Monday, February 17, 2014
The trouble facing all young entrepreneurs
Karl Ulrich, an expert Wall Street Journal columnist, wrote a commentary speaking to the "make-1000" issue affecting young entrepreneurs. As we have discussed through our venture group projects, the vision and drive of an aspiring entrepreneur is perhaps the easy part. The challenge, writes Ulrich, "is taking delivery of the first batch of product available for sale." As our venture groups struggle with finding funding for our products, so do many millennial entrepreneurs in the real world. Ulrich cites a term called "Crowdfunding", like Kickstarter or Indiegogo, which urges the public to fund a product based on appeal and interest to the consumer. Could this be a good market research tool while also building revenue for the company?