Look-Look/SMU trend challenge!

My class has been working with Look-Look, a trend-studying firm located in Los Angeleles, C, to research a growing trend at Southern Methodist University.

The Challenge:

The firm has noticed that young people (age 19-35) have redefined their values concerning work, careers and happiness. They believe that the values represent a shift from how previous generations defined their success. A manifestation of this shift has been the propagation of entrepreneurs. Look-Look has charged us with finding these "business-head youngsters" at – or alumni of – SMU.

The Place:

Southern Methodist University, the study-ground for my class’ research, is a private university with students often stereotyped as the spawn of well-to-do families. According to a report from the Princeton Review, “(T)he stereotype of an SMU student features ‘Louis Vuitton bags adorned with sorority pins, Daddy’s credit card, [and] bronzed tans year round.’"

Simultaneously, the Review also states that the university is among the “25 most connected campuses” (http://www.princetonreview.com/college/research/mostConnected.asp). I have also heard from various faculty and students that between 70-85% of all students are on scholarships.

Here’s my take as a current undergraduate…

The school definitely has a presence of the affluent, but these are accomplished students with big dreams and high goals. The university has a top-quality education and nurtures a creativity and independent mindset in its students. Such examples of nurturing that independent mindset includes: non-credit entrepreneurial programs; a crash-course business institute for recent graduates; and other programs and classes to help students stand out from the pack.

How and where have you seen New Entrepreneurs in your world?

As I mentioned before, Southern Methodist University is a breeding ground for nurturing an independent mindset. Although – and pardon my hazy knowledge of psychology – there are some that appear to be more of entrepreneur by “nature” instead of “nurture”. David Hanson, an SMU senior, is one of them. By the age of 17, Hanson was already running his own business for custom software entitled D.A. Hanson Consulting. A real estate finance major and political science minor, Hanson plans to “focus full time after graduation on his new business, Conduit Internet Systems, in addition to his consulting work” http://smu.edu/newsinfo/stories/entrepreneurs-29march2007.asp.

Other examples of such talent include young artists. Recent SMU alumnus Flip Caderao has used facebook to advertise sites that keep fans up-to-date on his budding band called Point 5 Covenant (http://www.point5covenant.com/, http://smu.facebook.com/profile.php?id=18803095). A graduate in the theater program, Caderao is able to market band merchandise, bios on Point 5 Covenant, and news on the band through this straightforward website.

Do you see a shift to a certain type of attitude toward work?

Because of the advancing communication technology of the internet, it is much easier for people to be their own boss.

How do you think this will change business in the future, if at all?

Shakespeare once said that “why, then the world is my oyster (w)hich I with sword shall open.” In my opinion, the computer has made for a very functional sword in that people no longer have to invest in a building and manpower when first starting out; it can all be done in the comfort of home!

Prove it. Whether it’s a specific example of a business, person, product, subculture, or anything else you can think of… Write a couple of paragraphs about why this trend is important and why you think it can make or (why it is making) an impact on your life and culture.

Opportunity is knocking, and it is only a few clicks away. People simply cannot afford to stay behind the times anymore. The notion of someone having to accumulate a small fortune before starting their own business is out the window. I believe that the early stages can be done with the right know-how, a computer, and plenty of internet access.

Something that I have not mentioned yet is how success stories such as these might make the generation feel entitled to a certain amount of money at the get-go. They may feel that success will happen instantly; but I think you have to be smart about how you reach for your goals. Reaching those goals may even take some soul-searching to find out what your strengths and weaknesses are. In my opinion, the best thing to do is get a solid job to take care of the bare necessities. Then during the off-time, throw yourself into your idea!