Spring Break
LeBow lecture discusses student entrepreneurship
Natasha Pande
Issue date: 2/27/09 Section: News
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Michalowicz discussed the progression of his career, from starting a company at 24 without any experience to its transformation into a multi-million dollar business.
Michalowicz said young entrepreneurs need to "go with their gut feeling" and use a formula of belief and focus, which will result in apparent action. According to Michalowicz, this formula will help those who make an effort but do not ultimately succeed because they do not believe in what they are doing. Michalowicz applied this to other aspects of life as well.
As an example of the need to destroy "limiting" beliefs, Michalowicz offered a hundred dollar bill to the audience, and gave it to the one student who went and took the money from him.
In his lecture, Michalowicz also said students should avoid making traditional business plans, because they do not work.
"Drexel students should be focusing on very short-term plans with a long-term vision," Michalowicz said. "Working in chunks and then reassessing where they are creates a dynamic planning strategy which helps one achieve more."
Michalowicz said there are young entrepreneurs, both men and women, who choose to work for themselves instead of established companies, and he wanted to be able to encourage that, and so began giving presentations in different colleges.
"Key to success is ultimately action; you can have the strongest beliefs and focus, but if you don't do any thing about it nothing comes about. When you feel it, it may not be perfect, but go for it," Michalowicz said.
According to the web site, the toilet paper entreprenuer is one who can clean "up in business, even if you are at the end of your roll."
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