Students Create Their Own Businesses in Entrepreneurship Class

Knox College students created their own micro-businesses as part of a new entrepreneurship class, where they pursued profits while gaining hands-on experience about what it takes to build and run a startup business.

"We learned a tremendous amount from this project," said Anna Marquez, who teamed up with two other students to create the KnoxPicks business. KnoxPicks worked with Galesburg merchants to offer discounted deals to Knox students.

"One of the biggest takeaways for our whole group was the importance of understanding one's own strengths and areas of growth," Marquez added. "Entrepreneurship requires being adaptable, being creative, and being committed to the process, rather than the result."

Taught by Wagner Distinguished Chair in Business John Spittell, who also is professor and chair of business and management, the entrepreneurship class provided each team of students with $40 in seed money. Then it was up to the teams to decide what type of business to create and how to operate it.

In addition to KnoxPicks, the other teams were:

• Boxed, which sold different varieties of "care packages," including a study snacks pack that consisted of soft drinks, pain reliever, a granola bar, macaroni and cheese, and a short note, such as "Tough is your middle name!" Boxed made more than $400 in profits.
• Magic Pot, a late-night dining option that sold ramen noodle dishes and an assortment of soft drinks. Magic Pot made more than $600 in profits.

Students said they gained considerable experience and knowledge by running their own micro-businesses.

For example, after initially experimenting with advance orders and deliveries to customers, members of the Boxed team found that sales were better when they set up "pop-up stands" where customers could buy the packages on the spot.

"With a business, you just have to constantly find new ways to make more money or make the experience better," said Avinash Gurung of the Magic Pot team. "This project really helped me understand that."

(Photo at top of page: Members of the Boxed team put together study snacks packages that will be sold to customers.)