Sponsored by: The Lassonde Entrepreneur Institute at the University of Utah is a launching pad for business success. Here, four U student entrepreneurs share their startup advice.
(University of Utah, sponsored) So you have a business idea? What now?
Are you sitting on a business idea not sure how to navigate the startup world? Here’s some encouragement—if college kids can do it, so can you. Thanks to the Lassonde Entrepreneur Institute at the University of Utah, students collaborate, innovate, and launch new business ideas almost daily, earning the U its ranking as 5th overall for Undergraduate Entrepreneur Program and 2nd for public schools in 2023 by US News & World Report.
Lassonde Entrepreneur Institute manages Lassonde Studios— a 400-bed residential community with 20,000 square feet of main floor area where students from any major can meet to connect, eat, test ideas and build prototypes . The institute also offers many programs including start-up support, workshops, business model competitions, networking events, scholarships, and innovation programs to provide unparalleled support to students in their business travel. And with the recent addition of the new Stena Center for Financial Technology at the U, students have another resource to explore business ideas in the financial technology sector.
If you need a little motivation to act on your business idea, here’s some practical advice from four U students who brought their ideas to market:
Susma Gurung, founder and CEO of Off the Rack
As a member of the local fashion community, Susma Gurung observed an increase in young fashion entrepreneurs starting their own businesses, which inspired her to start Off the Rack, a marketplace where new fashion founders can gather to sell their products and promote themselves.
“The main advice I would give to someone who wants to start their own business, is to just start,” said Garung, a marketing major with a minor in environmental and sustainability studies. “Not everyone can see your vision, that doesn’t mean it’s impossible. Learn from ‘No’ or rejection. The outcome is uncertain so learn from the process. “
He advises working hard to get to a position where you feel good about giving it your best. “No one can stop you but you,” he said. “Write down your goals, surround yourself with the right people and organizations, and be open and adaptable to the process.”
(University of Utah, sponsored) Susma Gurung, a student at the Lassonde Entrepreneur Institute.
Vivek Anandh, co-founder of Pure Solutions
While still in high school, Vivek Anandh founded Pure Solutions, a company that provides simple and effective testing for anyone concerned about the safety of their drinking water. The business idea won Lassonde’s 2022 High School Utah Entrepreneur Challenge, and the following fall, Anandh started at the U as a computer science major and a member of the Lassonde Entrepreneur Institute’s Lassonde Founders residential scholarship program.
“Identify a problem that you or others are facing and find a solution that is not currently on the market,” says Anandh. “This is how we came up with the idea for Pure Solutions.” Their product is well received by customers because it addresses a common issue faced by many people and provides a solution that was not previously available on the market, he explained.
“Many aspiring entrepreneurs often suffer from trying to come up with the perfect idea or business plan and it never works,” he said. My advice is to start with any idea you like and work. Don’t worry if it’s not perfect because you can always pivot and make changes as you go. Just get started, and be open to changes along the way. “
(University of Utah, sponsored) Vivek Anandh, a student at the Lassonde Entrepreneur Institute.
Angie Grover, co-founder of Metopio
Metopio provides easy-to-use data science tools so regular people can understand populations and places to make informed decisions. Metopia co-founder Angie Grover is a student in the Masters of Business Creation (MBC) Online program at the David Eccles School of Business at the University of Utah.
“To be cliché, I say ‘Just do it,'” Grover said. “As we know, not everyone is going to be a Google or the next Ulta Beauty Supply, so you have to know that starting your own business can be risky and it’s important to understand your own level of approval .Consider the worst case scenario and plan your way to the best outcome.”
Grover also suggests finding mentors because we all have blind spots and can’t be experts in all areas of the business. “Ask around and find the marketing expert you need or the business analyst or sales leader or whoever,” he said. “You’d be surprised who is willing to help.” And finally, he adds that it’s important to love what you do. “Being motivated every day, at least for me, comes from doing something I believe in.”
James Linton, co-founder of Chuck Rack
After James Linton and his co-founder, Charles McNall, experimented with different ski and bike racks, the duo came up with a new, family-adventure rack called the Chuck Rack. The Chuck Bucket Ski Rack, their first product, raised over $72,000 in pre-orders.
“My best advice for an aspiring entrepreneur is to think about where you want to go, even if it’s very vague, like ‘I want to be an entrepreneur,’ and then tell people that when they ask,” said Linton, a double major in communications and philosophy. “Always look for opportunities and people to connect with—they are your best resources.”
In Linton’s opinion, ‘self-made’ is a slight exaggeration. “It takes a lot of people, especially in the beginning, who are willing to trust you,” he said. “Try to find those people, whether they are friends, family, business associates, employees, professors, or whoever and invite them to help you or offer to help them. That was the biggest help to me by a huge margin. “
(University of Utah, sponsored) James Linton, a student at the Lassonde Entrepreneur Institute.
