Students in Whitefield's Principle of Business class recently traveled to the University of Georgia Terry College of Business for an all-day seminar on entrepreneurship, taught by Chris Hanks. Hanks, a lecturer in UGA's Management Entrepreneurship program, explained how to develop new business ideas as well as proactive ways to pitch those ideas to investors.
"We talked about how to judge business ideas as if they were investors," said Hanks, "if someone is asking you to spend your hard earned money on their new business, how you decide whether or not you are going to do it?"
Following a morning of instruction, Whitefield students acted as a judges' panel, reviewing and critiquing MBA students in the Terry Entrepreneurial program as they pitched their start-up ideas.
"Whitefield students provided exceptional feedback which in the end influenced my MBA students' grades," said Hanks. Whitefield students also met with actual investors later in the day, learning what motivates them to invest in particular businesses.
The idea for this unique educational partnership was birthed in conversations between Hanks and Whitefield faculty member Harrison Powell. Powell, an alumnus of Whitefield, graduated from UGA with a business degree specializing in finance and is now teaching the Principles of Business class at the school. He has participated in several business start-ups of his own, including Torad Engineering, a company which builds systems to recover waste heat and convert it into electricity.
"This event was a perfect addition to our current curriculum," said Powell "because my students are beginning to develop plans for their own start-up companies. The earlier students are exposed to entrepreneurial training, the better. Even if students don't plan on starting their own businesses in the future, they will have a higher chance for personal success when they know how businesses work. This was the reason we created the Principle of Business class at Whitefield; to expose students to the various aspects of business and equip them with the ability to start their own."
"The University of Arizona did a study and found that students with entrepreneurial training make 27 percent more than their peers after graduation," added Hanks. "Whether or not students start their own companies, students with this kind of train develop creative problem solving skills, and learn to take initiative, which is hugely important to employers. Employers are looking for students who take charge of their own destiny and have an entrepreneurial mindset. This experience will forge these students into better people, give them networking skills, and boost their confidence. It's the kind of experience that can't be replicated in a classroom."
"We talked about how to judge business ideas as if they were investors," said Hanks, "if someone is asking you to spend your hard earned money on their new business, how you decide whether or not you are going to do it?"
Following a morning of instruction, Whitefield students acted as a judges' panel, reviewing and critiquing MBA students in the Terry Entrepreneurial program as they pitched their start-up ideas.
"Whitefield students provided exceptional feedback which in the end influenced my MBA students' grades," said Hanks. Whitefield students also met with actual investors later in the day, learning what motivates them to invest in particular businesses.
The idea for this unique educational partnership was birthed in conversations between Hanks and Whitefield faculty member Harrison Powell. Powell, an alumnus of Whitefield, graduated from UGA with a business degree specializing in finance and is now teaching the Principles of Business class at the school. He has participated in several business start-ups of his own, including Torad Engineering, a company which builds systems to recover waste heat and convert it into electricity.
"This event was a perfect addition to our current curriculum," said Powell "because my students are beginning to develop plans for their own start-up companies. The earlier students are exposed to entrepreneurial training, the better. Even if students don't plan on starting their own businesses in the future, they will have a higher chance for personal success when they know how businesses work. This was the reason we created the Principle of Business class at Whitefield; to expose students to the various aspects of business and equip them with the ability to start their own."
"The University of Arizona did a study and found that students with entrepreneurial training make 27 percent more than their peers after graduation," added Hanks. "Whether or not students start their own companies, students with this kind of train develop creative problem solving skills, and learn to take initiative, which is hugely important to employers. Employers are looking for students who take charge of their own destiny and have an entrepreneurial mindset. This experience will forge these students into better people, give them networking skills, and boost their confidence. It's the kind of experience that can't be replicated in a classroom."