Thursday, April 12, 2007

Taking a "Look-Look" into the world of young entrepreneurs

Look-Look, an online company dedicated to gathering information and research about youth culture believes that the youth culture has always been a subculture. According to the company’s website “Look-Look wants to share these subcultures with the rest of the world. We want people to be inspired by the creative and brilliant minds around the globe…” This company was launched by a group of young people who wanted to celebrate the dynamic and inspired youth culture. Check out their website at: http://www.look-look.com/ and you will instantly recognize that these people know what they`re talking about.

In America, young people, more than ever have the world at their finger tips. With endless opportunities, thanks to the successful and relatively wealthy generation of parents who raised them, young people are expected to do great things. Whether its in the business world, music profession or science lab, these days in order to make it young people must do something to make themselves appear special, more talented and better than the kid next door.

As part of a class challenge, Look-Look asked us to do some research and investigate into the recent shift of young people’s ( ages 19-35) values concerning work, careers, and happiness. According to Look-Look, one manifestation in the shift of values is the “proliferation of entrepreneurs who start their own businesses, industries and independent ventures”.

Here at SMU, this idea rings true as several successful business men and women have pioneered their way to the top before they could even rent a car. SMU is located in the ritzy upscale neighborhood of Highland Park, Texas and has a reputation for social networking that goes back hundreds of years. From the Cox family to the Hunt family, SMU is well connected and is known for having one of the top business schools in the country, producing many remarkable business success stories.

Kacky Pritchard is one of those success stories. At the age of 19 Pritchard decided to start her own company as she sat in her Accounting 101 class looking at financial statements and balance sheets.

“I started to think that it might be easier than I thought to run a small business.” said Pritchard.
Even though she already had the imagination and love for fashion, it was that moment in accounting class that sparked her to start her own business.

“Since I knew I wanted to do something with fashion and utilize my finance degree from SMU`s Cox School of Business, I taught myself to sew, made a few apron samples, got a tax ID, and started selling aprons out of my college bedroom,” said Pritchard. “It was fun and stress-free from day one.”

After a few years of sewing and a lucky encounter with designer Kate Spade, Pritchard was given the opportunity of a lifetime to come and work with Spade and her successful fashion empire. By her senior year, Pritchard was working at one of the oldest fashion wholesale showrooms in the country and it was here that she met her future business partner Lisa Barnes.

Fast forward just one year later and Kacky & Carl was opened as a unique mixture of women’s apparel, jewelry, art, home furnishings, and gifts. Located in the swanky Uptown neighborhood of Dallas the store targets women and men ages 20 to 50.

It is obvious that Pritchard is part of the proliferation of entrepreneurs who start their own businesses, industries, independent ventures. According to an article published on SMU`s Cox School of Business Pritchard advises aspiring entrepreneurs not to be pushy, but not to be afraid to just get out there.

“Go up to the Kate Spades of the world and tell them who you are, what you want, and that you`ll take any advice they have to offer,” she says, “No matter how many accolades, businesses, or employees a person has, they are still just a person like you and your parents. Approach them with respect and see if something, somewhere down the line, comes of it.”


For more information about Pritchard`s success story please visit:

http://www.businessweek.com/bschools/content/oct2006/bs20061030_322646.htm?chan=bschools_undergrad+24-7_undergrad+24-7

and to check out Kacky and Carl online visit:

http://kackyandcarl.com

1 comment:

College Bloggers said...

Very nice insight into SMU and one entrepreneur, however, this could use additional information in order to meet the different aspects outlined in the trend challenge.