By: Estelle Reyes, NFTE Greater LA Executive Director
As we begin our 2012-2013 school year, we are excited about the new opportunities the school year brings to spark our students’ creativity and imagination about their future. We are continuing to see the impact of our students discovering entrepreneurship and pursuing opportunities that help them realize their full potential.
Through his experience working at Best Buy, our 2012 Greater LA Regional Youth Entrepreneurship Challenge Winner Vincent Quigg decided to utilize his expertise to create a business called “Tech World,” an electronic device repair service. In June, Vincent was honored as Ernst & Young’s Young Entrepreneur Of The Year, and in July he won a scholarship to USC’s Exploring Entrepreneurship Summer Seminar. Based on his entrepreneurial experience, he created a blog entitled “What Successful Entrepreneurs Have in Common.”
"Well I have been at USC for the whole month of July and I have had the honor of being able to listen to many amazing speakers and I wanted to share what most of the successful ones had in common. We listened to many companies’ Entrepreneurs from companies such as Cabo Chips, College Zoom, Roozt, and probably my favorite speaker was the owner of Mobile Roadie. Many had great stories on how they came about their business. This is what they all had in common.
1. A Passion
All of these entrepreneurs found a passion and found a way to blend business with a passion. If there is something you genuinely enjoy, go after it and see if you are able to capitalize on the market to make a product or service to meet demand to solve a pain. Even if that passion is something as simple as, “music”. Find a way to have fun and create a business surrounding your passion.
2. A Market
Every business needs a customer, without one a business fails, duh. Do some research, see if the business you are looking to do will attract a customer. Is the business you're doing have something unique that will set it apart from the same business up the street. Market is one the top 3 things you need to have when starting a business. (Idea and Entrepreneur is the other 2)
3. An Entrepreneur
Is the person behind the business passionate enough to make it successful? Why would I invest money into a business where the person behind it isn’t going to make the company the next Apple or Google? The entrepreneur least have the passion to want to do so. Many of the companies were run by passionate people with ever changing ideas to evolve their companies over time to satisfy their customer, and every entrepreneur should do so as well."
Vincent is the embodiment of all these traits and we are excited for him and the amazing things to come.
Editor's note: NFTE program offices will be providing regular updates this school year. Look for the next "Local Perspective" update on Monday, September 10th.