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Leverage Free Resources on Your Campus

One-on-one meetings with advisors, professors, alumni mentors, and peer mentors that you respect are extremely powerful and almost always under-utilized. Career, academic, and personal advisors allow you to set up meetings with them. Professors have office hours. Furthermore, the majority of schools have peer mentor programs and/or alumni mentorship programs that are extremely helpful.

Let me put it a different way: If you wanted to get consulting from a professor, receive mentoring from an experienced professional, get tutoring from a peer, or receive support from advisors, you’d normally pay over $100 per hour in the open market. In school, not only are these services free, you can set up as many appointments as you’d like. How amazing is that?! Furthermore, think of a peer mentor and/or alumni mentorship program. Normally, you’d have to somehow find someone who can help you. Then you’d have to get in the door. With a mentorship program, the searching has already been done and the door is open!

Perhaps, even more amazing, the advisors we’ve met at the schools we’ve spoken at almost always say their services are under-utilized by students! When people talk about the college experience, they often talk about classes, extra-curricular activities, and dorm life. Rarely do they talk about this incredible resource of mentorship that most schools provide.

1. Find the Right Ones. Every advisor, peer, peer mentor, alumnus, and professor you come across will not necessarily be a match made in heaven. Maybe you don’t have a rapport or maybe you don’t have similar backgrounds. Whatever the reason, keep on looking. Here are some techniques for finding the right people:
   
1. Go to your school’s bookstore to see if there is a section with books written by professors at your school. Purchase the books that interest you and then approach the professors during office hours.
2. Read your school’s newspaper and alumni magazine to look for interesting people.
3. Look for individuals who’ve won awards that you’d like to win.
4. See if any office in your school has an alumni or peer mentor program. If there is one, then build a relationship with the mentorship program coordinator so that he/she knows a lot about you and can match you with the best person.
5. If you’re in a dorm, refer to your RA.
6. Look up profiles on your school website or on the websites of the professors you’d like to meet. If they’ve published articles in journals, read those articles before approaching them.
7. Visit the alumni office to see if they have a database that you can gain access to. If you aren’t allowed to access it as an undergraduate, then see if you can meet one alumnus who trusts you enough to give you access.
8. Search the Internet for individuals with the background you’re looking for, and include the name of your school in the search query.
9. At the beginning of the semester, sit in on all the classes that you’re interested in. After the first few classes, you’ll get an idea of whether or not you want to take the whole course. If you don’t want to, you can simply drop the class and save yourself a lot of grief.
10. Sometimes, a professor is only teaching graduate courses, or you can’t take that particular class because you don’t have the proper pre-requisites. Another option you may want to consider is sitting in on the class during the semester and doing the readings if you have time.
11. Build your brand/reputation so that the right people can find you. One of the best ways to do this is by pursuing your dreams/passions and creating results.  Within the context of a college this could mean:
1. Winning awards
2. Developing a marketing system (i.e., online profiles, newsletter, blog, website, etc.)
3. Winning a business plan competition or an entrepreneur award
4. Winning any competition on campus
5. Having an article written about you in the school’s newsletters, newspapers, and magazines that go to prospective, current, and past students
6. Starting a club or getting involved on the executive board of a club
7. Getting elected to student government or council
8. Contributing to campus media (newspaper, TV, radio, etc.)
9. Becoming a member of the honors program

If you build a reputation in an area outside your dream, then you may receive resources that bring you closer to what you don’t really want. If you don’t create results and/or marketing systems, then people may have trouble finding you.

1. Build a Relationship. The last way you want to think about any resource is, “This service is a result of my tuition payments. Therefore, I’m entitled.” Although this may be true on some level, it is ultimately more beneficial for you to build a relationship from the ground up. This means that you should always:
   
1. Send thank you notes expressing your appreciation and explaining how their advice has helped you.
2. Respect the other person’s time by coming early and being prepared.
3. Take the time to get to know the individual personally so you get a better idea of how the person can help you and how you can help the person in return.
4. Give first. This may be easier to do with peers and peer mentors, but I’ve found that authentically giving to somebody is a very powerful way to build a foundation of trust and rapport. It will also set you apart from others, maybe even to the point where they start to tell others. I find that this principle is even more powerful when you go out of your way to help someone. At the very least, I think a good practice is to say, “Let me know if there is any way I can ever help you!”
2. Ask for Resources. Advisors, peer mentors, and professors are often gateways to more resources, such as awards, scholarships, others who are like-minded, and special courses/programs. If you’re on their good side, you will gain access to these resources first, you will get an endorsement/letter of recommendation, and you may even be able to get some strings pulled for you in times of need. Furthermore, professors have contacts with professors at other schools, which might help you if you’re interested in going to graduate school. A best practice that a mentor once told me is to ask for two introductions at the end of every informational interview.
   
3. Learn People’s Schedules. Every school has an academic calendar with predictable up-time and down-time. While career advisors might be most busy in the spring when students are looking for a job, academic advisors might be most busy near the end of the semester when students are picking classes for the next term. Learn the schedules of the people you will be working with, and try to work with them when they’re more available. In fact, summer may be the best time!

How to Set Up and Have a Successful Informational Interview

An informational interview is a meeting with a perspective mentor to ask questions that will help you achieve your goals.

Step 1: Contact Your Potential Mentor

Once you’ve identified the person you’d like to target, contact the person through email or telephone with a message that goes something like the following:

Hi [insert first name],

I read your [insert book, article, paper, etc.], and I really admire you because [insert reason].

My name is [insert name], and I [insert short background on yourself].

I know you’re very busy and you probably get asked this a lot, but would it be possible for me to have 15 to 20 minutes of your time, either in your office or over lunch, to ask you a few questions about my career? I think your experience as [insert relevant experience] would help me [insert specific reason on how it would help].

Are you available on any of the following days and times?

[insert dates and times]

Sincerely,
[insert your name]

This letter is effective because it shows that you:

• Research and care enough to learn more about the person.
• Respect the person’s time.
• Have specific areas that you want help with (people like to know that they can help).
• Are organized and have clear next steps.

Step 2: Follow Up with Your Potential Mentor and Set Up a Meeting

Over 80% of sales are closed after the fifth contact. The first contact should be the first step, not the last one. If the person you reached out to didn’t respond, the email might have been lost or the person might be really busy. Either way, it is better to be persistent than to be completely forgotten. If you aren’t able to get through to anyone, try some other people on your list until you’re able to set up an in-person or over-the-phone meeting. Below are a few thoughts to keep in mind when following up for the second time:

• Don’t show the person any trace of anger or try to make the person feel guilty.
• Try a different form of communication. If you called first, then email. If you emailed first, then call.
• Ask for a small amount of the person’s time – 15 to 30 minutes. How can anyone say “no” to that?
• Offer to meet the person wherever and whenever it is most convenient.
• See if you can get an introduction to the person through somebody in your network. When asking for the introduction, send a sample email that the individual can simply forward on. The easier you make it, the more likely and the more quickly the individual will do it.
• Think about why the person is meeting with you and how you can give back. You can ALWAYS help someone else, even if that person is much more accomplished than you are. Why else would the person be meeting with you? You can offer a fresh perspective, contacts, etc. If the person is meeting with you just to help you, then play to that. How can you show the person that you appreciate the help offered and make him/her FEEL GOOD about giving it to you?

Step 3: Plan the Meeting

Once you have the meeting set up, make sure you arrive at least 10 to 15 minutes early. Have questions prepared so that you protect yourself against delays, and come into the meeting with a calm state of mind. You only get one chance to make a first impression. Below are a few general questions that can help to break the ice:

• How did you get started?
• What do you think is the best way to maximize…
• What are the biggest mistakes that I should avoid?
• If you were me, what would you do? (Ask this after the person fully understands your particular situation.)

Also, take the time to research the person on his/her personal website, corporate website, online, and in the media. If the person has written anything, try to read it so you can comment on it or drop names when you meet.

Have a Great Meeting and Ask for More

During the meeting, write down important things the person says that you’d like to remember. This will also convey that you really appreciate what the person is saying and that you plan to apply it to your life.

Also, if you’re meeting over a meal, then seriously offer to pick up the tab to show your appreciation.

Once you have a meeting with someone, having good rapport with no follow up is not worth it. You don’t use the time to just meet with people. Play to win! If you decide that you want to build a relationship with this person, then consider doing the following “asks”:

• Referral. “Based on our conversation and what you know about me, are there two or three people you’d be willing to introduce me to?” If the person says yes, then ask what the best way to follow up on this is. Should you contact them directly? If so, what is their contact info? Will you be introduced via email? After the meeting, write the person sample emails that can be forwarded on to those contacts. Remember, make it easy for the person, knowing that he/she wants to help but is busy.
• Another Meeting. “Thank you very much for your advice. I specifically appreciate your advice to do XYZ. Can I follow up with you once I do that to report on the results and get your feedback again?” If the person says yes, ask what the best way to follow up is. Is it email or phone? Is it directly or through an assistant?
• Other Resources. “I’d really like to know more about the industry. Are there any events that you’d recommend I go to that you could get me into? I’d be happy to volunteer.” If the person says yes, then ask who the best person is to set that up with, and ask for that person’s contact information.

Step 4: Follow Up

After the meeting, follow up with a thank you letter. I like to send hand-written notes, which are more personal and memorable. In the note, if the person offered to make an introduction for you, then thank him/her for introducing you to [insert people’s names] and ask if there is anything you can do to move the process along. This shows just how much you appreciate the person’s time and effort on your behalf.

Action Steps

• Contact your potential mentor
• Follow up with your potential mentor and set up a meeting
• Plan the meeting
• Follow up

How to Set Up and Have a Successful Informational Interview

An informational interview is a meeting with a perspective mentor to ask questions that will help you achieve your goals.

Step 1: Contact Your Potential Mentor

Once you’ve identified the person you’d like to target, contact the person through email or telephone with a message that goes something like the following:

Hi [insert first name],

I read your [insert book, article, paper, etc.], and I really admire you because [insert reason].

My name is [insert name], and I [insert short background on yourself].

I know you’re very busy and you probably get asked this a lot, but would it be possible for me to have 15 to 20 minutes of your time, either in your office or over lunch, to ask you a few questions about my career? I think your experience as [insert relevant experience] would help me [insert specific reason on how it would help].

Are you available on any of the following days and times?

[insert dates and times]

Sincerely,
[insert your name]

This letter is effective because it shows that you:

• Research and care enough to learn more about the person.
• Respect the person’s time.
• Have specific areas that you want help with (people like to know that they can help).
• Are organized and have clear next steps.

Step 2: Follow Up with Your Potential Mentor and Set Up a Meeting

Over 80% of sales are closed after the fifth contact. The first contact should be the first step, not the last one. If the person you reached out to didn’t respond, the email might have been lost or the person might be really busy. Either way, it is better to be persistent than to be completely forgotten. If you aren’t able to get through to anyone, try some other people on your list until you’re able to set up an in-person or over-the-phone meeting. Below are a few thoughts to keep in mind when following up for the second time:

• Don’t show the person any trace of anger or try to make the person feel guilty.
• Try a different form of communication. If you called first, then email. If you emailed first, then call.
• Ask for a small amount of the person’s time – 15 to 30 minutes. How can anyone say “no” to that?
• Offer to meet the person wherever and whenever it is most convenient.
• See if you can get an introduction to the person through somebody in your network. When asking for the introduction, send a sample email that the individual can simply forward on. The easier you make it, the more likely and the more quickly the individual will do it.
• Think about why the person is meeting with you and how you can give back. You can ALWAYS help someone else, even if that person is much more accomplished than you are. Why else would the person be meeting with you? You can offer a fresh perspective, contacts, etc. If the person is meeting with you just to help you, then play to that. How can you show the person that you appreciate the help offered and make him/her FEEL GOOD about giving it to you?

Step 3: Plan the Meeting

Once you have the meeting set up, make sure you arrive at least 10 to 15 minutes early. Have questions prepared so that you protect yourself against delays, and come into the meeting with a calm state of mind. You only get one chance to make a first impression. Below are a few general questions that can help to break the ice:

• How did you get started?
• What do you think is the best way to maximize…
• What are the biggest mistakes that I should avoid?
• If you were me, what would you do? (Ask this after the person fully understands your particular situation.)

Also, take the time to research the person on his/her personal website, corporate website, online, and in the media. If the person has written anything, try to read it so you can comment on it or drop names when you meet.

Have a Great Meeting and Ask for More

During the meeting, write down important things the person says that you’d like to remember. This will also convey that you really appreciate what the person is saying and that you plan to apply it to your life.

Also, if you’re meeting over a meal, then seriously offer to pick up the tab to show your appreciation.

Once you have a meeting with someone, having good rapport with no follow up is not worth it. You don’t use the time to just meet with people. Play to win! If you decide that you want to build a relationship with this person, then consider doing the following “asks”:

• Referral. “Based on our conversation and what you know about me, are there two or three people you’d be willing to introduce me to?” If the person says yes, then ask what the best way to follow up on this is. Should you contact them directly? If so, what is their contact info? Will you be introduced via email? After the meeting, write the person sample emails that can be forwarded on to those contacts. Remember, make it easy for the person, knowing that he/she wants to help but is busy.
• Another Meeting. “Thank you very much for your advice. I specifically appreciate your advice to do XYZ. Can I follow up with you once I do that to report on the results and get your feedback again?” If the person says yes, ask what the best way to follow up is. Is it email or phone? Is it directly or through an assistant?
• Other Resources. “I’d really like to know more about the industry. Are there any events that you’d recommend I go to that you could get me into? I’d be happy to volunteer.” If the person says yes, then ask who the best person is to set that up with, and ask for that person’s contact information.

Step 4: Follow Up

After the meeting, follow up with a thank you letter. I like to send hand-written notes, which are more personal and memorable. In the note, if the person offered to make an introduction for you, then thank him/her for introducing you to [insert people’s names] and ask if there is anything you can do to move the process along. This shows just how much you appreciate the person’s time and effort on your behalf.

Action Steps

• Contact your potential mentor
• Follow up with your potential mentor and set up a meeting
• Plan the meeting
• Follow up

Set Goals

The following article was excerpted from The Student Success Manifesto.

The pursuit of a goal brings order in awareness because a person must concentrate attention on the task at hand and momentarily forget everything else. These periods of struggling to overcome challenges are what people find to be the most enjoyable times of their lives.
—Mihaly Csikszentmihalyi, author of Flow

Goals are outcomes you would like to achieve. Goal setting is the process of finding and pursuing what is of value to you.

If you do not know clearly what you want and how you are going to get there, you will be more susceptible to what others consciously or unconsciously want you to do or be. The clearer you make your own goals and vision, the less likely you will be deterred from your path. As the saying goes, “If you don’t know where you are going, then any road will take you there.”

Assuming the majority is right and just following along can be a major risk. While the majority might be correct, there are many times when it is not. Following the majority at these times could cost you some of the best opportunities of your life. A few months ago, I was in a long line with a throng of people waiting to go up one staircase. There was an empty staircase right next to the one full of people. My first assumption was that it must have been off limits, but immediately following that I thought to myself, “Oh what the hell, why don’t I just try it? What is the worst that can happen?” When I ventured up the empty staircase unimpeded, I realized that the only reason people had not been taking it was that nobody else was. Then upon looking back, I realized that there were actually people following me up, thus confirming my conclusion. My question is, do you want to take the unused staircase and make a path for others to follow, or do you want to push and shove with the majority just to get up the staircase everybody else is already on?

In many ways, you can see the evolution of a person’s growth by looking at what that person wants to achieve. Goals usually reflect people’s beliefs and values and, more generally, their personal growth.

You must not only consider what you want to do, but also how you are going to do it. Some examples of goals are:

Money: To have $5,000 (living expenses for six months saved by “x” date).

Branding: To win next year’s “Entrepreneur of the Year Award.”

Networking: To shadow the CEO of ABC.com for one week next summer.

Health: To drink eight glasses of water every day.

Learning: To improve my writing so that I can publish an article in the school newspaper.

Growth: To generate a list of 20 values that I would like to bring into my life, create posters featuring them, and post them around my house by next week. 

Characteristics of Goals

1. Goals Transform Your Present-Moment and Give It Direction and Inspiration. By taking the time to think about what you want in the future, you will learn more about yourself and what is important to you. As a result, you will begin to realize the new path you must take and the new ways you must be and act to achieve your goals. So, even though your goals will change, you will still have spent time going down a path that excites and inspires you.
2. Goal Setting Is a Process, Not an End. In the same way goals for a business change, as new information arises, so it should be in your personal life. By setting and pursuing goals, you are reflecting on what is important to you. There is a high probability that as you pursue a goal, you will realize it is wrong for you. This will be a profound realization that is part of the process. In fact, without pursuing the goal, you may not have realized that having “x” number of dollars and “y” number of friends isn’t important to you. By realizing what is not important, you can concentrate on the goals that are worthy of your pursuit. You cannot fool anybody. If you choose a goal just because you think you should, then you will not be inspired.
3. Goals Should Be Ends as Well as Processes. In other words, you should plan where you want to go and how you want to get there. For example, an end goal could be earning a million dollars before the age of 30. A process goal could be maximizing your love for yourself and others so you don’t consistently get angry at the people closest to you.
4. Goals Should Be Specific and Clear. It is easy to simply say: “I want a lot of money.” This may be a good starting point. However, as you think more about what is important to you, the goal should become more specific. What is “a lot of money”? Is it $100,000 or $1 billion? Why do you want it? When do you want to achieve it by? When you are 30? Or 60? Each end will require different means. Furthermore, each end will require different actions in the present-moment and, therefore, different paths.
5. Goals Should Be Magic in the Long Run. There is something powerful in creating long-term goals that seem as if magic would be the only way to achieve them.  Christopher Columbus had the magical goal of sailing around a world that others believed was flat. The Wright brothers believed they could create a machine that could fly in the air, around the time the first car was being invented. The whole way your mind thinks is transformed by magical goals and you become inspired. Although you may not believe you can achieve the goal at first, the process of achieving it might get you somewhere in between. Falling short of $1 million by $100,000 is not too shabby.

   Choosing a goal that you greatly desire and that you are willing to work hard enough to achieve is crucial. You do not want a goal that is so unchallenging that you become bored. Some people make the mistake of classifying themselves as “unmotivated.” However, everybody has the potential to be motivated. Have you ever been really hungry for a specific food and were determined to get it? Have you ever been really afraid of something and were motivated to avoid it? Everyone at some point or other has been extremely motivated either toward or away from something. Both positive and negative motivation can be effective, depending on the individual. A key to Extreme Entrepreneurship is consciously choosing what you want to go after in life and avoiding what you do not want to go after.

   A goal should not be something that would just be nice to achieve. If a goal is only “logical” or “nice,” than you will not have the firepower to pursue it when times are tough and you need inspiration the most. For your goals to be effective, you will have to realize their importance at your core and be emotionally stirred. The more emotion you involve, the better. What are your worst habits, the ones you cannot seem to shake? Take a second to imagine how much opportunity you would lose if you kept this habit for the next year, ten years, twenty years, or the rest of your life. How would these habits negatively affect your money, brand, network, health, development, and growth over time? Is this acceptable to you? If it is not acceptable to you, what are you going to do about it? What compelling goals are you going to create?

6. Goals Should Be Measurable.  If you cannot measure your goals, you cannot measure how effective your current plan is. And if you cannot measure how effective your current plan is, you cannot make corrective measures. As a result, you will both stagnate and fit the following definition of insane: “An individual who keeps on doing the same thing expecting different results.”
7. Goals Should Blend with Each Other. Another important part of goal setting is establishing relations between your goals. By blending your goals, you will make it possible to work on more than one at a time. For example, in a marketing research class I took, I was able to do the major market research project on my business. Thus, I was essentially able to work on my business and school goals at the same time.

   How can you connect your goals so that achieving one helps achieve another? The answer is a “goal hierarchy” (see example below). This will give you the big picture of all your short-term and long-term goals in areas such as money, brand, network, health, development, and growth. With this long-term view, you can get a better picture of how your goals are working together to create your life plan.

   To create a goal hierarchy, you first have to take time to create a vision for your life, which will go in the center of the chart. Your life vision will very likely change over time. However, by going through the process of deciding what your vision is, creating a plan to achieve it, and then taking action on your plan, you can see if the vision is right for you.

   After you realize what your life vision is, you can create supporting goals to help accomplish them. From these supporting goals, you will develop others, until finally you will come down to specific tasks that you can do right now. The chart below is an example of a hierarchy in the form of a “mind map” and is an easy way to create your goals and link them together. The chart shows only two levels of the mind map. If you were to continue, then each goal would be broken down into the specific steps needed to achieve it.

 

 

According to a 1997 Gallup study, 7 out of 10 high school students say they want to start their own business. And why not? Starting and running your own business while still in school is a great opportunity to grow, learn, network, and accumulate wealth. However, only a tiny proportion of students actually start a business.
Because of a lack of direct experience with entrepreneurship, students develop unfounded beliefs about it that can stop them from starting a company. In this article, I will address the "The 7 Myths of Student Entrepreneurship":

1. I don’t have enough money - Many of America’s largest corporations started on a shoestring budget out of somebody’s garage. A successful Web development company a friend and I started in high school cost only $80 to set up. To compensate for a low budget, you have to be creative, resourceful and make realistic plans. To get in the right frame of mind, you may want to read Seth Godin’s e-booklet, The Bootstrapper’s Bible, available on Amazon.com.
2. I don’t have enough time - Many of America’s largest corporations were started in people’s spare time. Perfect examples are Hewlett-Packard, Microsoft, and Dell, all of which were started on part-time schedules. All of us have 24 hours in a day. If the business is important to you, you will prioritize it over less important activities and create a business model that fits your schedule. For example, one student at California State University started a business teaching financial skills to high school students during summers. With the money he earned from starting the business, he is putting himself and his brother through school in addition to paying off all of his other expenses.
3. I’m not smart enough - Says who? SATs and grades have very little correlation to people’s potential to be successful entrepreneurs. In fact, "50% of millionaire entrepreneurs never graduated college and 75% of U.S. presidents were in the lower-half club in high school," according to Mathew Lesko in his book, Free Money to Change Your Life. Some examples of businesses started by individuals while still in school are Microsoft, Dell, Napster, Netscape, Fedex, Apple, Tripod, and TheGlobe.com.
4. I’m not creative so I can’t come up with good ideas - There are many books in the library or book store with low-cost business ideas. One specific book of ideas for student entrepreneurs is Generation Inc.: The 100 Best Businesses for Young Entrepreneurs. Or you can find young entrepreneurs at your school or in the media and ask them how they came up with their business idea. Networking with other youth entrepreneurs will also adjust your own mindset to be open to ideas for a business. Also, there are a lot of business ideas already out there that work, that you could replicate or modify slightly.
5. I can’t because the economy is bad - Many of the most successful corporations were started during recessions. During recessions talent is easier and cheaper to find, rent is lower, and there is less competition. All of this adds up to recessions being one of the most opportune times to start a business.
6. I don’t have enough experience - Microsoft, Dell, Kinkos, and Yahoo are just a few of the many successful companies started by people with no business experience. Your experience can certainly affect the success of your company, but you have to start somewhere. If your first business fails financially, then you still will have gained the unique experience, learning, network and growth from running the business that will give you an edge over your peers. I’ve heard many people say they’d rather employ somebody with a failed business than somebody with no experience at all. Companies would rather you fail and learn on your dime than on their dime.
7. I can’t because I’m afraid of failing - According to most statistics, the majority of businesses fail financially after the first few years. In fact, the most successful people in the long-term often have the most failures in their life. So, it is OK to fail. The key is whether you fall forward. You can fall forward in front of your other classmates with the network, experience, and personal growth you got from starting your business. According to Napoleon Hill, a bestselling author who researched the habits of extremely successful people such as Andrew Carnegie, Thomas Edison, and Henry Ford, "Every failure has within it the seeds for equal or greater success." It is your decision whether you plant these seeds.

Action Steps
Now that you are more aware of unfounded beliefs that you or others may have, you are more prepared to make the decision of whether or not student entrepreneurship is right for you. Below are resources to take advantage of as you begin your journey:

• Youth Venture
• Students in Free Enterprise
• Collegiate Entrepreneurs’ Organization
• Service Corps of Retired Executives
• The Student Success Manifesto
• Professors, mentor networks, or entrepreneurship centers at your school

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