Student Entrepreneur There's no place like college to meet a partner, make connections and start your own business BY LUIS SANCHEZ
Going to college was not a foregone conclusion in my household. In fact, when I graduated from high school, I went right to work. But after one hot Houston summer in a warehouse, I saw the need for both air conditioning and a college education.
While working a part-time job, I attended a local community college and earned an associate's degree. Then I set about finishing my undergraduate studies. I won a summer internship at Texas A&M University to study veterinary medicine but found myself drawn more toward business. Upon learning that the University of Houston's College of Business has a world-class reputation in a city that offers many job opportunities with several industry-leading firms I knew this was the school for me.
When I entered the University of Houston in 1995, the Internet was really just starting to become what it is today. I wanted to be a part of it all, so I majored in Management Information Systems. Then I found out about the Center for Entrepreneurship and Innovation, a program of only 30 students. I took the introductory course, was selected and signed the contract promising to finish the 1 1Ž2-year program.
CEI taught practical business applications as well as concepts. A CEO of a successful company and an academic instructor taught each course, covering all aspects of starting, running and growing a winning business. I learned a great deal about the importance of research before making a business decision and how to go about getting the right information.
One of the unique and most important aspects of CEI was the mentoring program, which focused on networking and building contacts within the business community. While in CEI I met Chris Clements, who shared my interests in starting a company. Through CEI we were able to get valuable support and advice on putting together a business plan for an automotive website, which won a prestigious International Business Plan competition in 1999. Chris and I worked hard to develop our idea from concept to completion with the help of one of our professors.
When we launched our site in 1998 as undergraduates, professors advised us on how to make business decisions in a variety of situations. When you're a new entrepreneur looking for investors and advice, you have to understand the business community and how it works. The contacts we made at CEI opened countless doors to help us get our initial funding.
Our used-car website fell through after a year, but Chris and I launched BigReferral.com, a pay-for-performance marketing site, after we graduated in 1999. In just five months we went from working out of our parents' homes to moving into a technology suite and hiring 10 employees. As the chief technical officer, I make strategic decisions regarding how the company will deliver its services electronically.
College taught me how to use information by understanding individual elements and tying them together. For me, education and business are related. My professors introduced me to my business partner and stuck by us. They also introduced us to many successful people with whom we conduct business today. Our relationships with students, professors, mentors and investors have been the reason for our success. Attending the CEI program at U.H. was a worthwhile investment, not just in education but also in life.