Hope to See You at the USASBE Conference in January!
We are proud to announce that Sigma Nu Tau Entrepreneurship Honor Society will be a
sponsor and exhibitor at the 2016 USASBE Conference,
to be held in San Diego, California from January 8-12! The mission of the United States Association for Small Business and Entrepreneurship® is "to provide the network to advance knowledge and foster business development through entrepreneurship education and research." USASBE's mission is perfectly aligned with the mission of Sigma Nu Tau and targets a similar group of entrepreneurship faculty members and students.
The exciting conference program includes:
- Career Services Registration
- Doctoral Consortium
- Mentor Luncheon
- Social Entrepreneurship Certificate modules
- Technology Certificate modules
- Keynote Speaker Donald Kuratko of Indiana University
- Preconference Tours of San Diego Artistry, Craft Breweries, and Baja, Mexico
- Baylor Case Boot Camp - Case Teaching Practicum
- Special Interest Group Meetings
- Paper Presentation Sessions
- Deans' Panel
- USASBE Awards & Gala
- Post-Conference Winery Tour
Looking forward to seeing many of our current Sigma Nu Tau faculty advisors again as well as meeting many new faculty members to tell you more about Sigma Nu Tau!
Interested in Starting a Sigma Nu Tau Chapter at your school?
Would your university like to be the first in your state or region to establish a Sigma Nu Tau chapter on your campus? You will gain a competitive advantage by being able to offer special programs and awards to your students!
If you would like to establish a chapter at your university so that you can recognize outstanding students, faculty members, entrepreneurs, and honorary members, please visit our website (SigmaNuTau.org) and check out our Facebook page to learn more about the process. Or give me a call to discuss it!
Wishing you all a wonderful Thanksgiving!
Nancy J. Church, Ph.D.
President and Executive Director
Sigma Nu Tau Entrepreneurship Honor Society
P.S. Does your school have any news that you would like us to include in the next issue of our e-newsletter? If so, please send it to me at email@example.com or SigmaNuTauEntHonorSociety@ gmail.com or post your news on the Sigma Nu Tau Facebook page!
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Shopify and NYSE Launch the World's Largest Entrepreneurial Competition
Shopify teams up with famous, iconic entrepreneurs to host the world's largest entrepreneurship competition. The competition registration runs from September 22, 2015 to March 31, 2016, but you can sign up at any time.
Entrepreneurs must start an entirely new business on www.shopify.com/build and sell their product on the Shopify website in order to participate. After you register, only complete calendar months between October 1, 2015 and May 31, 2016 will be used in the calculation of gross sales.
This competition is truly survival of the fittest. The top five online stores that sell the most over a two-month period will travel to New York City to ring the Opening Bell at the New York Stock Exchange. Then they'll be interviewed live by CNBC, followed by a trip to the Oheka Castle (the Great Gatsby mansion) for a five-day retreat including mentorship by entrepreneurial icons, personal development, and professional growth. Hard as it seems, participants aren't completely on their own -- The website features special announcements and resources to help contestants along the way.
Entrepreneurial icons who will be present at the mansion include Daymond John, FUBU, Shark Tank; Russell Simmons, Media Mogul, Philanthropist; Mark Hoffman, President of CNBC, and several others. Referring to the competition, Tobi Lutke, CEO of Shopify said, "This year...we want to help anyone with a great idea turn it into a million dollar company in a really short time."
Current Entrepreneurship Articles of Interest
Jessica Herrin began her entrepreneurial journey as an MBA student, at Stanford University in 1998, when Dave Whorton, an associate partner at the blue-chip venture capital firm Kleiner Perkins Caufeild & Byers, approached her about her online wedding gift registry business plan. With Whorton's backing, Herrin launched her business and stayed with her company until 2001.
The experience taught her that she wanted more from a start-up. She didn't want to sell out, she wanted to last and last. So after she approached Whorton for another backing, they put their brains together with Chris Alden, co-founder of Red Herring magazine, and found 30-40 entrepreneurs who had the same mindset and goal: "...remaining private, independent, and unsold for a long time." The name of the company?
They also established a network of investors interested in providing "patient, long-term, and non- controlling capital for profitable and growing evergreen businesses called
Read more about the start-up
October 2015 issue, pg. 32]
Three Main Crossroads
of your Entrepreneurial Journey
A panel, moderated by Roger Lee
, general partner at Silicon Valley VC firm
, at the "BrightEdge Share15" conference in San Francisco
agreed that the entrepreneurial journey was long with multiple paths. Additionally, the success at the end of the journey depended on which path you chose at each of the three crossroads:
1. Crossing the Ideation Chasm- Panelist agree that there was not one "aha" moment but there were several. They point out that many entrepreneurs look for investments in single products or features instead of ones which can be scaled into full blown companies. That should be the goal--Where do you see your product in 10 years?
2. Choosing the Right Partner for the Long Haul: CEOs agreed it's important for someone to "have your back." It's more advantageous to have someone with a like mind early in the start up of your business, instead of hiring them later, to bounce ideas off of and help shape the direction of the company.
Funding Your Journey Wisely:
Potential backers may become confused about what their return on investment (ROI) may be but pitches will become easier after the founders cycle through a number of meetings. Once your company starts to speak for itself, investors will come knocking on your door.
There isn't a set formula to reach success but all panelists agreed that it is how an entrepreneur navigates the main crossroads that impacts the likelihood of their success.
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. . . . . .
Mission of Sigma Nu Tau:
"To promote, recognize, honor, and reward academic excellence in entrepreneurship and to encourage and recognize the practice of principled entrepreneurship"
4 Types of Membership:
Sigma Nu Tau Chapters
#1 - SUNY Plattsburgh
#2 - Kent State University
#3 -Belmont University
#4 - California State University-San Bernardino
#5 - Clarkson University
#6 -High Point University
#7 - Claflin University
#8 -Suffolk University
#9 - Middle Tennessee State University
#10 - Baruch College
#11 - John F. Kennedy University
#12 - Rowan University
#13 - Illinois Institute of Technology
#14 - University of Baltimore
#15 - New York Institute of Technology
#16 - The George Washington University
#17 - Husson University
#18 - York College of Pennsylvania
#19 - University of Iowa
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"I don't like investors. When you take money, you're typically setting the stage to get out. It's about multiples and math at that point. It's not about product. It's not about customers. It's just about growth. And that, to me, is a perverted sense of what business is about. Business to me is about making something great, treating your employees great, treating your customers great, adding something good to the world that wasn't there before."
Founder of Basecamp
(Project management software company)
[Source: "Built to Last",
Bo Burlingham, Author, Columnist, Inc. Magazine, Issue October 2015]
"Choose something that has a 'runway,' to let you make mistakes, then work out how you as a leader bring the organization
together to focus on a single goal and change the world."
[Source: "The Road to Entrepreneurship Is a 10-Year Journey: CEO Success Stories From Silicon Valley,"
October 1, 2015,
Founder and Principal Strategist at Delightful Communications, Entrepreneur.com]
Forbes' 10th annual ranking of the "Best States for Business" analyzes states across 40 metrics related to costs, labor supply, regulatory environment,economic
climate, growth prospects and quality of life. Here are the states with the 10 best and 10 worst business climates:
Top 10 best in rank order:
- North Carolina
- North Dakota
- South Dakota
Top 10 worst in rank order:
- New Jersey
- Rhode Island
- New Mexico
- West Virginia
"Best States for Business and Careers 2015," October 21, 2015, Kurt Badenhausen, Forbes Staff,
Gary Schoeniger, Chief Content Developer at the Entrepreneurial Learning Initiative, says:
"Business skills, somewhat controversially, may, in fact, get
in the way of entrepreneurial
thinking. Teaching business plans and financial projection 'may be
doing more harm than good.'
"While these skills may be
important for managing an
existing business with a proven
product or service, they often
inhibit the entrepreneurial
process--the process of searching
for a problem-solution fit."
-Amy Rosen, Contributor
[Source: "Business Skills vs. Entrepreneurial Thinking," October 16, 2015, Entrepreneur.com]
While you're there,
we hope you will become a fan and "Like us!" It is chock full of great quotes about entrepreneurs and entrepreneurship as well as photos from our newest chapters! Why not add a photo or two from your chapter?
Follow us on Twitter, and learn more about entrepreneurship.
Visit Our Website
Our streamlined website offers easy-to-find honor society forms and introductory information pages. The website now has a Chapter Directory page, a map of where our chapters are located, and step-by-step instructions for petitioning to establish a collegiate chapter of Sigma Nu Tau Entrepreneurship Honor Society at your college or university.
Visit sigmanutau.org today
and see it for yourself!
To obtain materials to petition to start a chapter at your university & for more information about Sigma Nu Tau's mission, constitution, bylaws, or general information on the benefits of starting a chapter,
Leadership Campaign Donors
Mrs. Diane R. Carroll
Mr. Richard Chase III
Dr. Nancy J. Church
Dr. James Csipak
Dr. Richard Gottschall
Dr. Lise Heroux
Mr. Mark Kaiser
Dr. Augustine Lado
Mr. Rick Leibowitz
Ms. Karen Stehlin
Ms. Rebecca Van Auken
Mr. Fiorenzo Villani
Coming Up in
Next Month's E-Newsletter
(1) Our new student Video Pitch
(2) Our new chapter referral incentive
Nancy J. Church, Ph.D.