Entrepreneurship

Breaking the 鈥榗old chain鈥�

lblouin — Mon, 05 Feb 2024 17:29:40 +0000

Breaking the 鈥榗old chain鈥� lblouin Mon, 02/05/2024 - 12:29

History will likely look back at the rapid development of the mRNA COVID-19 vaccines as one of modern medicine鈥檚 greatest success stories. Just one year after the coronavirus ignited a global pandemic, the first mRNA vaccines from Pfizer and Moderna were going into arms 鈥� breaking the previous vaccine development record, held by the mumps vaccine, by three years. Within another 12 months, tens of millions of people had received at least one dose, giving them highly effective protection against the virus. But this quick rollout of the most advanced vaccines was a story that mostly played out in higher-income countries. Part of that had to do with the high cost. But it was also rooted in logistics. Both of the mRNA vaccines required continuous cold storage all the way through the supply chain. The initial formulation of the Pfizer vaccine, in particular, required super cold storage of at least -60潞C from the moment it left the factory all the way to the pharmacy. When President Biden announced in June 2021 that the U.S. would send half of billion doses of Pfizer鈥檚 vaccine to the 100 lowest-income countries, it was understandably met with a bit of eye rolling in the NGO world and the Global South, since many countries on the list had extremely limited cold storage infrastructure. For example, NPR reported at the time that Sierra Leone, a country of almost 8 million people, had just one ultra-cold freezer. It was filled to capacity with Ebola vaccine.

This network of cold storage infrastructure 鈥� what鈥檚 known as the 鈥渃old chain鈥� 鈥� is essential not only for vaccines but a wide variety of medicines, especially modern biopharmaceuticals. It鈥檚 also necessary for storing biological samples for research, as well as reagents, which are a common ingredient in lab tests. The idea that refrigeration keeps things fresh is so intuitive, it鈥檚 easy to think cold storage is simply one of medicine鈥檚 immutable realities. But a few years ago, 51视频-Dearborn Professor Pravansu Mohanty began to question how absolute this truth was. What if there was some way to keep vaccines and medicines from degrading without cold temperatures? If there was, that could change all kinds of things we do in medicine and research. It also had the potential to remove one of the biggest hurdles to bringing vaccines and advanced medicines to places off the cold chain grid.

Mohanty is not a physician or medical researcher by training, though his mother did want him to become a doctor. He might have followed that path had he been better at biology, but chemistry and physics were his stronger subjects, so he chose to study materials science and engineering. Still, his interest in biology, and human medicine in particular, has colored an eclectic, adventurous research career. For years, the mechanical engineering professor ran an advanced 3D-printing lab at 51视频-Dearborn, where one of his flagship projects was developing a process for creating custom titanium artificial joints for U.S. military service members. He saw 3D-printing鈥檚 capability to create one-off, ad hoc components as an obvious fit for human medicine, given that each person鈥檚 body is a uniquely configured machine. When Mohanty began working on the cold chain problem, he approached it with similar engineering sensibilities. Yes, the vaccines and medicines he was interested in were biological in nature, but at the end of the day, they were 鈥渏ust molecules.鈥� In particular, they were mostly proteins. Proteins are often described as the 鈥渕achines鈥� of the cell, and it鈥檚 an apt metaphor. Just like human-engineered technology, a protein鈥檚 unique function owes a lot to its intricate hierarchical structure. 鈥淚f you change the shape of a protein molecule, even slightly, likely it will no longer bind to a particular site and it won鈥檛 do what it鈥檚 supposed to do in the body,鈥� Mohanty says. To preserve a protein, you have to preserve its structure.

This fact about proteins is what makes cold storage such an effective preservation technology. To jostle some memories from your high school physics course, temperature, on the molecular level, is fundamentally a measure of how much things are moving. At lower temperatures, atoms in materials move less than at higher temperatures, which is one reason why it鈥檚 easier for physical objects to maintain their shapes in colder conditions. In addition, cold slows down bacteria and chemical reactions that can degrade biological materials. But as a materials scientist, Mohanty knew that low temperatures weren't the only way to stabilize things. In particular, glass 鈥� not window glass, but glass as a class of materials with disordered molecular structure 鈥� can be an excellent stabilizer. In fact, glasses are often used to store very hazardous materials 鈥� even radioactive materials 鈥� because glass鈥� unique encapsulation power immobilizes things on the molecular level. Mohanty began to wonder if the right kind of glass could do the same for biological materials. That is, by surrounding the molecules of proteins with a glasslike substance, could he essentially immobilize their intricate structures, the way packing peanuts protect fragile items for shipping? Could he essentially 鈥渇reeze鈥� them in place 鈥� without the cold?

Even if he could, that would still only solve part of the problem. Since the goal was to preserve vaccines and medicines, his glass also couldn鈥檛 wreak havoc in the human body. And, of course, he鈥檇 also need a way of getting the desired proteins back out of the glass without damaging them. For years, he experimented with different materials and eventually found a group of polymers and sugar-based molecules with seemingly all the right properties. They could be used to form glass, and many were common vaccine preservation ingredients. Perhaps most interestingly, this glass could simply be dissolved in water. That meant releasing the biological materials wouldn鈥檛 require any special equipment or processes. It looked like a promising approach, though he says he was often filled with self-doubt. 鈥淵ou know, I鈥檓 not a formally trained biologist,鈥� Mohanty says. 鈥淪o my first thought was that this probably wasn鈥檛 real.鈥�

It turned out, however, that his team was onto something. Now six years into development, Mohanty鈥檚 unique biopreservation method has become the foundation for a biotech start-up, Upkara, which has an explicit mission to advance 鈥済lobal health equity.鈥� Mohanty says starting Upkara, a Sanskrit word that loosely translates as 鈥済ood deed,鈥� has been a challenge unlike any he鈥檚 faced as a scientist and engineer. Over a more than two decade-long career, he鈥檚 won tens of millions of dollars in grants and earned many patents for his work. But starting a company has meant spending long hours trying to convince investors that this was indeed an idea that could have a profound impact on the world. 鈥淚 am the kind of person who doesn鈥檛 enjoy things once they become routine, so starting this company has been an interesting learning experience,鈥� Mohanty says. 鈥淚n the beginning, of course, you are everything. You are the president, and the strategy person, and the recruiter, and you are also the person running the lab. You have to get good at telling your story to people, who have a lot of ways they could invest their time and money. You have to convince them that you have the edge over your competitors. You have to convince people this is real. Now I have people to help with all of that, and I am very thankful for all the support I鈥檝e received, including from the university. I鈥檝e enjoyed the challenge, although I could definitely not see myself becoming a CEO.鈥� The curious scientist is still happiest in his lab.

For many startups, the ultimate goal is to score a big payday by selling the company to a bigger firm. But Mohanty has a different vision for Upkara. Rather than sell, they plan to license their biopreservation technology to anyone who wants it. Pharmaceutical companies have shown the strongest interest thus far, and Mohanty says Upkara, which currently operates from an incubation space on the 51视频-Ann Arbor campus, is on track to sign its first agreements with several clients this spring, including with at least one major American pharmaceutical company. However, by maintaining control of the core technology, Upkara will have the option to license it, at a sliding fee scale, to smaller entities, like government health agencies or NGOs in lower-income countries, which are in the singular business of helping people. If the company can make that vision a reality, it could potentially ease the cold chain problem by rendering it far less important 鈥� a remarkable achievement that would open up an alternative path for bringing advanced medicines to people in all corners of the world.

Mohanty says structuring the company around a social mission has surprised some of his friends and colleagues. 鈥淚鈥檝e had people literally ask me how much money I鈥檓 making from all this,鈥� he says. 鈥淏ut I鈥檓 not really someone who gets excited about the idea of selling something for a million dollars. For me, the thrill comes from creating, and the prospect that something can be so far-reaching. I mean, I鈥檓 happy with my life. The first home I bought when I became an assistant professor 24 years ago, that鈥檚 still my home. As a scientist, if I can make discoveries that help people, that鈥檚 plenty of satisfaction.鈥�

###

You can read more about Upkara at the company鈥檚 website. Story by Lou Blouin

College of Engineering and Computer Science

Mechanical Engineering

Off

Mon, 02/05/2024 - 17:24

Materials scientist Pravansu Mohanty has developed a way to eliminate the need for cold storage of vaccines and biopharmaceuticals. Could his startup be a game changer for bringing advanced medicines to lower-income countries?

51视频-Dearborn Professor of Mechanical Engineering Pravansu Mohanty. Photo by Emily Barrett-Adkins

For small business, how does the show go on?

Anonymous — Wed, 10 Aug 2022 14:44:11 +0000

For small business, how does the show go on? Anonymous (not verified) Wed, 08/10/2022 - 10:44

This article was originally published on March 23, 2020.

There鈥檚 a sign on the door of Paula and Tim Guthat鈥檚 independent movie theater in Detroit. The first words you read are 鈥淥pen 7 Days.鈥� But as your eyes continue down the Cinema Detroit sign, there鈥檚 a date: March 16. And then, 鈥淐losed temporarily.鈥�

After operating daily for nearly a decade and growing a loyal customer base, the small business owned by the couple 鈥� who met during Professor Emeritus Sidney Bolkosky鈥檚 film class at 51视频-Dearborn in the early 1990s 鈥� still has the faint smell of popcorn, but no one鈥檚 in the cushy red seats.

Last Monday, March 16, Governor Gretchen Whitmer issued an executive order that closed theaters and other "places of public accommodation" like gyms, restaurants and performance venues to enforce social distancing in an effort to slow the spread of the potentially deadly coronavirus. And at 12:01 a.m. Tuesday, March 24, the State of Michigan issued a Shelter-in-Place order, which restricts nonessential travel.

Paula Guthat says she understands the governor鈥檚 decisions 鈥� and the Guthats planned to close even before the first order was given based on the rapid increase in COVID-19 numbers in the U.S.

鈥淥ver the (March 13-15) weekend, things were starting to sound like they were evolving into 28 Days Later. It made us wonder if this virus was more serious than we were first led to believe,鈥� says Guthat says referencing the 2002 British post-apocalyptic film. 鈥淲e made the decision to close following our Sunday showings. Our theater was full and people wanted to be there. We were second-guessing if we made the right choice until the governor's March 16 announcement. So we were right in closing, but it doesn鈥檛 make this time less tough.鈥�

College of Business faculty member and entrepreneur Tim Davis says thousands of people are in the same position as the Guthats and 鈥渢here鈥檚 no easy answer.鈥� But there is a silver lining in this: 鈥淓ntrepreneurs are creative people who often come up with customer solutions. It鈥檚 who they are and what they do. When it comes to solving problems, entrepreneurial thinking is a good place to start.鈥�

In the past, Davis owned a construction business. He recalls being at a building site on Sept. 11, 2001 when a customer told him about the planes crashing into the World Trade Center. The COB assistant dean for Student Engagement and Success says he understands how a crisis may impact a small business, but also understands that what people are experiencing today is unprecedented. 鈥淚鈥檇 like to sound cheery, but this is a huge blow to our economy. We get why, but it still hurts.鈥� But his experience reminds him that small business owners are 鈥渘imble problem solvers, the jacks and jills of all trades.鈥�

With Davis as a guide, here鈥檚 some advice that may benefit your small business.

Offer your product in a new way.

Look for ways to collaborate with another business to help each other. For example, maybe you own a cooking studio that鈥檚 closed and you know someone who owns a video production studio that may be slow on business. Work together with the support of a local grocer to make a video on how to cook up comfort food. Davis says working together 鈥� at a socially safe distance 鈥� and pooling together resources, expertise and customer bases can be a win-win.

Davis says it鈥檚 also important to reach out to your customers and check in with them on what services they鈥檇 like during this time. 鈥淟isten to the people around you and empathize. See what they need. You started your business because you saw there was a need and you filled it. Use your natural creativity and business savvy, your entrepreneurial thinking, to find ways to provide a value-added service. It鈥檚 a trying time, but small business owners often excel in this way of thinking.鈥�

Know there is help out there and apply if needed.

Davis shared a few financial aid links, including this one from Michigan Economic Development Corporation, that Michigan鈥檚 government is sending out to help mitigate the strain that the shutdown has on businesses. The Michigan Small Business Relief Program will provide more than $20 million in grants and loans to support businesses and the Michigan Small Business Development Center can provide resources. Many of the funds are expected to be available by April 1.

There鈥檚 also help for Detroit businesses through TechTown Detroit鈥檚 Detroit Small Business Stabilization Fund. Capital grants for qualifying business go up to $5,000.

In addition, Whitmer announced Thursday that the U.S. Small Business Administration (SBA) has a statewide Economic Injury Disaster Loan declaration through FEMA鈥檚 disaster assistance.

Stay on the minds of your customers.

Davis says there are many ways an entrepreneur can add and capture value. It may not be a monetary transaction, but there are still ways to add value and stay top of mind with your customers.

If you have the capital, you can invest in ideas that you鈥檝e had in the past, which you now may have more time to implement. If the money isn鈥檛 there 鈥� and many people are in this category 鈥� you can demonstrate what makes your enterprise unique and important by showcasing it through avenues that you already use. 鈥淚f you don鈥檛 have a virtual presence on social media because you haven鈥檛 had the time to manage one before, now may be an opportunity to strategize content and set one up.鈥�

Zoos are closed, but many are showing off what makes them great 鈥� their animals and highly-trained staff 鈥� through online educational videos that are aimed at children who are currently home. Concert venues are silent now too 鈥� so entertainers are creating recorded content to share through their social media channels. 鈥淢any businesses already have virtual audiences. Continue to use that as a way to interact with people, but refine your strategy. It鈥檚 a way to build trust and confidence with your customers.鈥�

The Guthats are using videos and social media, but they are using other approaches too. They are using online mailing lists to write customer-focused emails and finding new ways to offer their services (for example, adding to membership perks, offering 鈥渢ickets鈥� to virtual cinema screenings for arthouse films and opening the concession counter for carryout). She also says people have reached out to ask how they can support the theater, so Cinema Detroit began offering gift cards online.

鈥淲e know that shutting down is the right thing, but small businesses are more than a place of work for many of us, it鈥檚 our lives. So this is a scary time, but people want to help. They understand that small businesses are in a really tough spot, so it鈥檚 important for business owners to stay connected with customers and let them know how they can help if they鈥檇 like to. We are all in this together.鈥�

Cinema Detroit lobby/ Model D Media

On Friday, Paula and Tim Guthat went into their theater to create social media content and do some cleaning. But before they left, they changed their sign.

It now reads, 鈥淔riday, March 20...Intermission.鈥�

鈥淚鈥檓 still processing this, I鈥檓 trying to stay positive 鈥� so I changed the sign,鈥� Paula Guthat says. 鈥淲e want our customers to know that we鈥檒l be back. There are ways we, as business owners, can survive this and come out stronger on the other side. After all, the show must go on.鈥�

Coronavirus

Entrepreneurship

College of Business

Off

Mon, 03/23/2020 - 05:00

A College of Business entrepreneurship educator and Detroit small business owners talk about keeping businesses visible and viable when COVID-19 closes the doors.

People. Planet. Profit.

Anonymous — Thu, 14 Jul 2022 18:34:52 +0000

People. Planet. Profit. Anonymous (not verified) Thu, 07/14/2022 - 14:34

Marcus Harris is a Detroiter. Since his childhood, he鈥檚 seen neighbors in need. He鈥檚 known people who lacked the training needed to land a job. He grew up around innovative side hustles that helped people put food on the table.

鈥淚鈥檓 a Detroit Public Schools kid who grew up on Detroit鈥檚 lower east side. My grandma, God rest her soul, ran our local Junior Achievement Center and got me thinking about best business practices as a teen,鈥� he says. 鈥淭hat interest led me to a doctorate in business administration.鈥�

As an adult in the city, the College of Business faculty member has seen how all of these things 鈥� social need and hustle 鈥� can come together to create a successful business model that鈥檚 focused on community while still making a profit.

With life experience, entrepreneurial drive and an advanced degree in business, Harris created and teaches the College of Business鈥� Social Entrepreneurship, Community Leadership, and Social Impact course (ENT 403). The course is offered virtually in Winter 2021; registration is open.

鈥淚t鈥檚 all about learning how to change your community by solving social problems,鈥� he says. 鈥淪uccessful people have the ability to identify problems and develop innovative solutions. These skills will help you if you choose to pursue your own business venture. But problem solving is also an important skill to have in any field.鈥�

To make sure the class gains the understanding of social entrepreneurship, writing business plans, finding funding opportunities and more, Harris connects students with local businesses. That way, they can learn from the individual entrepreneurs' experiences and see how they are improving their communities while earning a living.

Among the businesses the course partners with:

Peaches & Greens, a produce store that creates fruit baskets and other gift items along with providing inner-city Detroit residents a low-cost place to get fresh fruits and veggies; they also have an ice cream truck-styled produce vehicle that brings healthy food options into the neighborhoods.
Fit and Fold, a Detroit laundromat with exercise equipment inside so people can be active while they wait for clothes to wash and dry. They also do additional community programs like job training for people with no or limited job experience, and have offered free tutoring services for children while parents clean items.
Oliver鈥檚 Biscuits, a local dog treat company that uses nutritious local brewery byproducts like used hops 鈥� which would otherwise be thrown away 鈥� and gives a portion of their profits to local humane societies. They also employ sex trafficking survivors to give a safe and steady employment environment.

Harris also brings in guest speakers like Michelle Smart, who founded Detroit鈥檚 Bags to Butterflies. Her business model employs previously incarcerated women as handbag and jewelry designers 鈥� which are then sold at her shop 鈥� to give the women transitional employment, confidence and a support system. And they create the items by using repurposed items from Detroit鈥檚 demolished homes.

鈥淪ocial entrepreneurs think about the triple bottom line 鈥� planet, people, profit," Harris says. "They build social impact into their business plan. More and more people are seeing the value of this and I want our students to know how important business ventures like these are to the community and how they can be done successfully. It鈥檚 a partnership of purpose and profit.鈥�

Urban and Regional Studies major Erie V. Nash says she previously took the course because of her personal interest in entrepreneurship. 鈥淭his class gave me a hands-on approach to the resources involved in creating a self-reliable career for myself.鈥�

Nash, who partnered with Fit and Fold for the course, says, 鈥淟earning how to create a business plan for a real social venture was a memorable experience for me. I am currently interning with the nonprofit Eastside Community Network. Because of Dr. Harris and the ENT-403 course, my understanding of community development and social impact could not be any clearer about social outcomes through social entrepreneurship.鈥�

In this early March 2020 photo, Erie V. Nash, second from left, takes a social entrepreneurship bus tour of Detroit in her ENT 403 course. The bus tour is on hold this semester, but Professor Harris will connect students to social entrepreneurs virtually

Senior Ali Bazzi, who is pursuing an Entrepreneurship Certificate, says Harris鈥� teaching style and experience 鈥� along with Harris鈥� Detroit business connections 鈥� makes this course a must-take for students.

鈥淒r. Harris kept us involved. He asked questions to make sure we felt like we were part of the lesson and encouraged us to be ourselves and speak our minds,鈥� Bazzi says. 鈥淗e wanted us to learn and truly understand how businesses can put their profits towards building a better future for the people in our society.鈥�

And Harris says that鈥檚 what it鈥檚 all about: Creating a better future for all involved.

鈥淓ntrepreneurs know how to solve consumer problems. Now we are using that thinking for social good too,鈥� he says. 鈥淚t鈥檚 changing the world for the better鈥� and still being able to make money while doing it.鈥�

ENT 403: Social Entrepreneurship, Community Leadership, and Social Impact is a College of Business course offered during the Winter 2021 semester. For questions regarding the course, contact Harris.

Off

Mon, 12/07/2020 - 06:00

51视频-Dearborn business professor Marcus Harris teaches students how to create sustainable success in his social entrepreneurship course.

Graphic by Violet Dashi

How a new campus lab supports students from the classroom to the boardroom

tinahu — Wed, 23 Feb 2022 19:53:59 +0000

How a new campus lab supports students from the classroom to the boardroom tinahu Wed, 02/23/2022 - 14:53

Employers need effective communicators 鈥� that鈥檚 the bottom line. So the College of Business recently opened a business communication lab to assist students in strengthening their business communication skills.

鈥淲hether you are leading a team or working on a team, how you communicate is a reflection of your professional presence,鈥� said College of Business faculty member Christine Fischer, a longtime business communication educator who teaches BA 330: Managerial Communication, among other courses. 鈥�Effective communication is a skill employers want their employees to have. At the end of the day, your communication skills will differentiate you in the business world.鈥�

To help connect 51视频-Dearborn students with a dedicated business communication campus resource, a prominent Michigan alumnus鈥� family estate gifted $250,000 to establish the John H. and Patricia W. Mitchell Business Communication Lab. This gift was then matched with $250,000 from other gift funds in the College of Business to create a $500,000 endowment to support the lab.

Archive photo of Patricia and John Mitchell

The gift honors the legacy of Columbia Pictures Television Founder John H. Mitchell (A.B. 鈥�39) and his wife Patricia Mitchell. John Mitchell was an entertainment industry executive who served as president of Columbia Pictures television division from 1968 to 1977. Under his leadership, he produced shows that include The Flintstones and Bewitched. He also served three terms as president of the Academy of Television Arts & Sciences.

鈥淭he Patricia W. Mitchell Trust supports the College of Business鈥� vision of evolving our business writing curriculum into a comprehensive business communication lab,鈥� said Raju Balakrishnan, dean of the College of Business. 鈥淏usiness communication plays a vital role in who succeeds. Our students will benefit because of John H. and Patricia W. Mitchell鈥檚 generosity 鈥� both now with this enhanced educational experience and into the future.鈥�

Fischer, who is the director of the John H. and Patricia W. Mitchell Business Communication Lab, previously worked at U-M鈥檚 Stephen M. Ross School of Business, meticulously researched and developed lab plans for nearly two years. She surveyed campus faculty and students, and looked at prominent business schools 鈥� like Ross, University of North Carolina鈥檚 Kenan-Flagler Business School and others 鈥� to see what they offered when it came to business communication development. She then tailored offerings to meet Dearborn Wolverine needs.

Student services include providing feedback on written assignments, evaluating slide presentations, giving presentation rehearsal assistance, and more. Faculty resources in development include a business communications writing module and a communications best practices presentation that they can share with students.

Director Christine Fischer

She said the communication lab was a priority because research shows there is a widespread disconnect between how students view their written and oral skills versus how employers view those skills. For example, according to a National Association of Colleges and Employers survey, nearly 80% of students believed they were competent in oral and written communication, while only 42% of employers indicated that students were successful in those areas.

The Mitchell Business Communication Lab offers online and in-person appointments where communication consultants 鈥� who are business professionals or high-achieving COB students 鈥� work one-on-one with students in 30-minute sessions. In-person appointments take place in Fairlane Center South room 152.

鈥淢emos, emails and reports are different from a research paper. People get a lot of messages each day and we want our students to get their point across clearly in their business deliverables,鈥� Fischer said. 鈥淚n the business world, clear concise communication saves time and builds goodwill because time is money.鈥�

If you鈥檇 like to learn more about the John H. and Patricia W. Mitchell Business Communication Lab, please reach out to Fischer at chrisfis@umich.edu.

Academic Excellence

Careers or Internships

COB Graduate Programs

COB Undergraduate Programs

Off

Wed, 02/23/2022 - 19:53

The College of Business John H. and Patricia W. Mitchell Business Communication Lab supports 51视频-Dearborn business students by providing feedback on written assignments, evaluating slide presentations, giving presentation rehearsal assistance and more.

Illustration showing the variety of services available at the College of Business' new John H. and Patricia W. Mitchell Business Communication Lab. Graphic by Violet Dashi

Help Wanted: Business professor advises how to navigate the latest economic challenges

stuxbury — Mon, 15 Nov 2021 23:55:56 +0000

Help Wanted: Business professor advises how to navigate the latest economic challenges stuxbury Mon, 11/15/2021 - 18:55

鈥淥ut of stock" messages on websites have risen 250 percent compared to pre-pandemic levels. Almost half of small business owners say they are finding it harder to find employees with the right skill sets to fill their positions. Heading into the holiday season, the optimism felt earlier this year isn鈥檛 as shiny and bright.

College of Business faculty member Patrick Keyes, who teaches 51视频-Dearborn鈥檚 Small Business Management course and has owned a business, understands struggles associated with ownership and wants people to know that there are ways through them.

鈥淥ur local economy is still being impacted by pandemic-related challenges. The U.S. economy as a whole is out of equilibrium. The country is working to correct it, but we鈥檒l continue to feel these swings 鈥� having too much or too little 鈥� with each correction until the right balance is found,鈥� he says. 鈥淭hings like Small Business Saturday (which is Nov. 27) and help getting access to capital are good, but those don鈥檛 really address the larger issues.鈥�

Talking with Keyes recently, he shared a few tips on how to navigate challenges and find success within the ever-present change.

Find partnerships in the community.

At one time, businesses did not talk to their competition. That鈥檚 no longer the case 鈥� Keyes says people need to put aside old thinking and find ways to work with other businesses in your area, even if they offer similar products and services.

Here鈥檚 why: You want to learn what鈥檚 working for them and what鈥檚 not. It鈥檚 also important to see what they offer and learn how you can help each other.

For example, if a customer calls your restaurant to inquire about a large lunch order, but your hours start at 4 p.m., refer the caller to a restaurant that鈥檚 open. Or if your schedule doesn鈥檛 work for a potential client鈥檚 fast-track project, connect them with another person whose services may be a fit. That creates a solution for the customer from a trusted source, and may give a financial boost to a small business in the community, and pave the way for that owner to reciprocate the referral.

鈥淚t is always better to have half of something than all of nothing,鈥� Keyes says. 鈥淭his is an uncertain time for a lot of people. Remember that you aren鈥檛 alone in this. Other businesses are feeling it too.鈥�

He says partnerships can lead to more than customer referrals. There鈥檚 also cross-promotional marketing, shared costs for events, larger talent pool reach and more perspective when it comes to idea generation. 鈥淲e need to be working together. Business partnerships are critical for local economies.鈥�

When it comes to relationship building, focus your attention online.

Keyes says before people patronize or work for a business, they often are already familiar with it. 鈥淧eople typically don鈥檛 buy big-ticket items or hand a $300,000 contract to just anyone. Those go to people who are trusted.鈥� He says it鈥檚 all about long-term relationships. Those take time, but the good news is that anyone can cultivate them.

This typically begins online by hearing about someone鈥檚 positive experience or seeing a business鈥� social media posts. 鈥淲ithout a relationship, you are just another store or service,鈥� Keyes says. Active social media channels and thought-out social strategies are a must for relationship cultivation. (51视频-Dearborn students are often looking for opportunities like these for internships. Contact the Internship and Career Management Center if interested.)

Also important? Maintaining an updated 鈥渟torefront鈥� presence where people can browse and purchase, and an employment area for people to see available positions and apply. For small businesses that don鈥檛 have the resources to create a comprehensive website at the moment, Keyes says there are alternatives like an Etsy Shop or Amazon Storefront for retail and DoorDash Storefront or Grubhub for restaurants. For general services that don鈥檛 have direct up-front ordering, like construction work or consulting, post to local Facebook Marketplace sites or create an Upwork.com profile. If owners are looking for talent, sites like Flexjobs or Indeed can help.

No matter what you do, Keyes says look for ways to expand your web presence and budget for it. 鈥淭here are third-party sites that are good to use, but if you can bring people to one place 鈥� like your website 鈥� to interact with you, that鈥檚 even better. If you have a well-managed online presence, it builds credibility and trust.鈥�

Trust also plays a major role in hiring and employee retention. In general, loyalty isn鈥檛 the same as it once was on either side of the employer/employee relationship, Keyes says. Today employees are ultimately looking for the highest wage available and flexible remote work, but employers can鈥檛 always offer those. Even when owners have financial and location constraints, transparent and trusted workplaces make up a lot of ground.

Market and sell what you do have.

Billions of dollars in supplies are sitting in backed up U.S. ports. It鈥檚 wreaking havoc on many of the country鈥檚 industries and economists say the effect of this will likely be felt into mid-2022. Keyes understands the frustration of overcoming challenging situations...just to find more obstacles.

However, small businesses have entrepreneurial thinking on their side, he says. The strategy and creativity that led to business development will help get them through this challenging chapter.

One Dearborn business, I Say It with Cafe, expanded its coffee-themed gift item selection when some of the farm-sourced Puerto Rican coffee beans, a staple product, was temporarily out of stock. Hookah Love, another locally owned business, created a mobile party service that travels to businesses or homes so people can more easily gather in ways that are comfortable for them. Having a mobile service also reduces overhead costs that go with a brick-and-mortar location.

鈥淒on鈥檛 be too focused on the hurdles or trying to go back to the way things were prior to the pandemic. If you do that, you will miss opportunities. I promise there are opportunities out there, but to get them you probably need to change how you do things. What that looks like depends on your business and its goals,鈥� says Keyes, who says COB faculty can assist business owners with change management and new business strategies. 鈥淏ut what鈥檚 the same for all of us is knowing that our lives have forever changed. What worked for you three or four years ago doesn鈥檛 always work for you today. It鈥檚 the same for your customer. Embracing change is the best way forward.鈥�

Article by Sarah Tuxbury. Want assistance with your business? Reach out to the College of Business iLabs Center for Innovation Research or email Professor Keyes directly.

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Mon, 11/15/2021 - 23:42

Lecturer Patrick Keyes, who teaches 51视频-Dearborn鈥檚 Small Business Management course and is an entrepreneur, understands struggles associated with business ownership and has a few ideas on how to work through them.

A graphic that features Lecturer Patrick Keyes and his business expertise.

Taking care of business

stuxbury — Mon, 23 Aug 2021 17:37:14 +0000

Taking care of business stuxbury Mon, 08/23/2021 - 13:37

Ida Gonz谩lez says coffee speaks to her soul 鈥� it鈥檚 a gift and an experience. When her family moved to the Midwest from Puerto Rico, she couldn鈥檛 find the smooth, sweet coffee flavor that she grew up with. So the attorney and mother of two young boys decided to start a small business to bring the coffee she loves to Dearborn and beyond.

Gonz谩lez had the passion, coffee connections and the expertise to start I Say It With Cafe. But she lacked a comprehensive business plan and digital marketing experience.

And that鈥檚 where 51视频-Dearborn stepped in. Gonz谩lez worked with College of Business (COB) Lecturer Patrick Keyes and his BPS 441: Small Business Management course, a capstone class in the Small Business Management major. The students helped create a social media plan, identified I Say It With Cafe鈥檚 audience and potential market reach, gave ideas for expanding its online presence and more.

Photo of Lecturer Patrick Keyes

鈥淭he students presented their information to me right before COVID started and I was able to put it in play at the right moment. When there was a rise in online business, I was ready,鈥� said Gonzalez, who has a partnership with a local coffee roaster and conducts direct trade from a coffee farm in Puerto Rico. Her business features specialty organic coffees from Caribbean and Latin America countries, as well as coffee gifts. 鈥淚 learned how to strategically manage my social channels, got a better understanding of my audience and what they want, and gathered marketing data. It was a great experience and I鈥檝e used about 70% of what the students shared with me.鈥�

51视频-Dearborn has a longstanding relationship with downtown Dearborn business organizations like the Downtown Dearborn Authority and the Dearborn Chamber of Commerce, which is how Gonz谩lez first got connected with campus.

鈥�I started at farmer鈥檚 markets, but wanted to continue to grow. However, I had limited resources when starting out like most small businesses. That鈥檚 why it is so important to look for support and talent in the networks that are out there,鈥� said Gonz谩lez, who also mentioned that her nine-year-old son created her logo. 鈥滻 know I love coffee because it brings people together. Have something to celebrate? Let鈥檚 go get coffee. Are you sad? Sit down and let鈥檚 talk over coffee. But I wasn鈥檛 exactly sure how to market that. The students helped me identify my target audience so I could focus on providing something unique for them.鈥�

To strengthen partnerships and continue to find ways to support local businesses, Downtown Dearborn developed a Business Assistance Team. College of Business Lecturer Tim Davis, who is the Assistant Dean for Student Engagement and Success, has served as a university point person in meetings.

鈥淭he College of Business sees experiential learning as a foundation to understanding the nuances of business and how each company has to prepare and react based on their specific goals and customers. That is why we love to have students connect with professionals in every subject and around a variety of problems,鈥� Davis said.

College of Business Small Business Management and Marketing dual major Alex Davalos said she took Keyes鈥� BPS 441 class and worked as an intern for I Say It With Cafe. She said during that time I Say It with Cafe鈥檚 revenue increased by 10% in a four-month period based on social media strategy changes and marketing efforts. But how to increase sales numbers wasn鈥檛 the most valuable lesson that Davalos learned.

鈥淚 saw the amount of work and dedication Ida put into her business. She was constantly thinking about what is next, constantly networking, constantly anticipating what her customers will want. She has the fire needed to get a start up off the ground,鈥� Davalos said. 鈥淚 eventually want to own my own business, and I saw all of the behind-the-scenes work needed to get one up and running.鈥�

In addition to finding ways students could get plugged in with downtown business leaders, Davis seeks ways to connect entrepreneurs with university assistance. One of the projects 鈥� in addition to the class-based connections 鈥� was a COB iLabs Center for Innovative Research survey that looked at how local businesses pivoted their offerings and services to weather the pandemic and what effect that had on their outlook.

鈥淎 community research project like this gives businesses an outlet to share their experiences, helps us keep our students aware of what鈥檚 happening in the local community, and provides data to the city 鈥� it鈥檚 a win-win-win,鈥� said iLabs Project Manager Kari Kowalski when speaking about the survey project.

But much of the business assistance 鈥� like what Gonz谩lez received 鈥� starts in the classroom. Keyes said College of Business faculty members always have their radar up for experiential learning opportunities.

鈥淥ur focus was twofold with this particular initiative: to provide the students experiential learning applying the concepts learned in the entrepreneurship and project management classes, as well as work with Downtown Dearborn to provide local businesses with support as they adjust their business model to successfully function in the world of COVID,鈥� he said.

Even in the virtual environment, Keyes鈥� classes continue to evaluate start-up businesses and provide pointers, including a presentation to a new local business, Hookah Love, last week. Keyes says giving support to businesses when they need it leads to relationships down the road that will benefit students. 鈥淲e create internship and job pipelines when business owners see the value that our students bring and the strength of our programs. We aren鈥檛 only here to give lessons 鈥� we guide students in applying what they learn too.鈥�

Gonz谩lez agrees. Entering her third year of business, she鈥檚 expanded her offerings to a variety of corporate gifts and virtual experiences like a Coffee Masterclass. She鈥檚 hired five 51视频-Dearborn interns through campus鈥� talent pipelines like the Internship and Career Management Center and the Career Services offices and looks forward to what the future holds. Now as a more established business owner, she鈥檚 interested in speaking with classes and helping students where she can. For example, she鈥檚 written letters of recommendation for a few of the students.

鈥淭hanks to the great experience I had with the college, I was able to implement new ideas to keep my business growing,鈥� she said. 鈥淭he students I鈥檝e met are driven. They helped me meet my goals. I want to help them meet theirs.鈥�

Article by Sarah Tuxbury. If you are a business interested in partnering with a College of Business opportunity, please reach out to umd-ilabs@umich.edu.

Entrepreneurship

Student Success

Volunteer or Community Service

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Mon, 08/23/2021 - 17:35

To strengthen community partnerships and help students gain experience, College of Business initiatives continue to support local businesses throughout COVID changes and help entrepreneurs succeed.

Business owner Ida Gonzalez, center, started a coffee company. She's pictured with her two children.

eCities annual study recognizes 206 communities in Michigan

stuxbury — Wed, 21 Oct 2020 21:10:34 +0000

eCities annual study recognizes 206 communities in Michigan stuxbury Wed, 10/21/2020 - 17:10

Graphic for eCities

If you are looking for entrepreneurial growth and innovation in Michigan, eCities, the annual research project conducted by iLabs, 51视频-Dearborn鈥檚 Center for Innovation Research, has a list of 206 communities for you to check out.

The communities, located throughout all corners of the state, are recognized with four and five stars for their efforts that influence entrepreneurship, economic development and job growth.

鈥淓ach year, the eCities project aims to highlight the successes and continued commitment of cities and townships to grow business and support entrepreneurship within their communities,鈥� said Kari Kowalski, iLabs project manager.

The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets, and tax rates, which can demonstrate the growth, investments, and cost of doing business within the community. For example, over the five-year period of 2015-2019, these communities increased their capital assets by an average of 2.4 percent per year by investments such as library equipment, building, water, and sewage improvements, and street renovations, while property tax rates increased by less than 1 percent on average per year.

Although accounting for less than 20 percent of the State鈥檚 cities and townships, the 277 communities analyzed are home to 70 percent of Michigan鈥檚 population and 87 percent of the state鈥檚 commercial property.

Local communities who participate in the project receive benchmarking reports showing their performance at creating inviting business environments and encouraging entrepreneurial growth. The focus of the project is to learn and share community success stories to attract entrepreneurial development and create business growth. Understanding these success stories, or best practices, and utilizing these concepts across Michigan can positively impact the state鈥檚 economic future.

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Wed, 10/21/2020 - 21:09

Researchers focused on the five-year changes in property values, community assets, tax rates and cost of doing business within the community.

Looking for entrepreneurial growth and innovation in Michigan? Check out these communities.

lblouin — Tue, 29 Oct 2019 14:04:15 +0000

Looking for entrepreneurial growth and innovation in Michigan? Check out these communities. lblouin Tue, 10/29/2019 - 10:04

Five communities across the state of Michigan have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study. The study, conducted by iLabs, University of Michigan-Dearborn鈥檚 Center for Innovation Research, identified the cities of Hillsdale, Houghton, Saginaw, Tecumseh and Hartland Township as 2019 eCities Honored Communities for their successes and efforts in contributing to Michigan鈥檚 growth. In addition, 178 communities were named five- and four-star performers.

鈥淲hile accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to 70 percent of the population and 85 percent of the state鈥檚 commercial property,鈥� said Tim Davis, the College of Business鈥� assistant dean for student engagement and success. 鈥淏y analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.鈥�

For example, over the five-year period of 2014-2018, these communities increased their capital assets by an average of 2.25 percent per year by investments such as road and parking structure improvements, water main and streetscape upgrades, as well as police, fire and computer equipment, while property tax rates increased by less than 1 percent on average per year.

Entrepreneurship

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Tue, 10/29/2019 - 14:00

The annual eCities study recognizes 183 cities and townships for contributing to Michigan鈥檚 economic growth.

There鈥檚 more to COB student Michael Smith鈥檚 burgeoning sportswear line than just a large social media following

admin — Mon, 25 Feb 2019 14:27:12 +0000

There鈥檚 more to COB student Michael Smith鈥檚 burgeoning sportswear line than just a large social media following admin Mon, 02/25/2019 - 09:27

Michael Smith, TITAFit

When Michael Smith didn鈥檛 like the material or fit of his workout clothing, the 51视频-Dearborn men鈥檚 soccer player decided to create his own. And thanks to social media and a marketing mind, the College of Business senior鈥檚 sportswear business has grown substantially since he founded it during his freshman year.

Smith鈥檚 company, TITAFit, has nearly 19,000 followers on Instagram, which is where he does 90 percent of sales. More than 450 athletes globally serve as brand ambassadors, representing the brand online in exchange for discount merchandise and presale access. And Smith, a marketing major, takes hundreds of orders each week in between balancing studies and playing defense for the soccer team.

鈥淚鈥檝e always loved helping others reach their fitness goals through sharing advice or being a part of a team. I saw creating clothing as another way to help people achieve their fitness goals,鈥� said Smith, who researches clothing materials through wear, looking for qualities like effectiveness in wicking sweat. He also designs for fit and look. The men鈥檚 soccer team recently ordered team stadium jackets that Smith鈥檚 company made.

His business has experienced a level of success early on 鈥� but he was nearly sidelined after receiving a cease and desist letter from a well-known sportswear and outerwear company earlier this year.

Smith started his company at age 18 with a tax ID and LLC, but didn鈥檛 look too much into trademarking the name. 鈥淢y company鈥檚 original name contained the word 鈥榯itanium,鈥� which this company had trademarked when used on clothing and sporting materials. I didn鈥檛 realize you could trademark an element name. But I learned quickly that you can.鈥�

Smith 鈥� who attributes growth to a nearly 24/7 focus on maintaining his social media channels and having brand ambassadors post photos wearing his merchandise 鈥� said he needed to keep his profitable company in tact, but wanted to avoid a legal mess and conflict with a large-scale brand.

鈥淚 started this business by reaching out to everyone I knew through social media and personal connections. I grew this fitness community organically over the past few years and didn鈥檛 want to lose what I worked so hard to build.鈥�

So what was Smith鈥檚 next step? Getting advice from COB faculty.

鈥淩ight after I received the letter, I went up to [Marketing Lecturer] Jeremy Sutton and we talked for a half hour after my digital marketing class. He spoke on trademark and patents during lecture the week before. The timing was incredible,鈥� he said. 鈥淚 still lost a couple nights of sleep over this, but I am grateful for his help. He gave me a contact in a trademark office and pointed me in the right direction.鈥�

Smith successfully rebranded to TITAFit Co. in late January. He said TITA means 鈥淭eam is Together Always,鈥� which signifies the feeling of durability and strength that he was going for in the original company name.

鈥淚t ended up being a very smooth transition. I had the right people available to answer questions,鈥� he said. 鈥淭his experience has taught me the importance of trademarking 鈥� even if you think it is something that鈥檚 fair use. I appreciate getting that lesson now. This experience and the advice I鈥檝e gotten from my professors will only help me grow even stronger as a business owner.鈥�

Entrepreneurship

Experiential Learning

College of Business

COB Undergraduate Programs

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Mon, 02/25/2019 - 14:23

Smith, a senior marketing major, has the support of his professors and uses lessons learned in the classroom to help him grow TITAFit, the business he launched during his freshman year.

These Michigan cities are driving entrepreneurial growth and innovation

admin — Thu, 29 Nov 2018 13:11:13 +0000

These Michigan cities are driving entrepreneurial growth and innovation admin Thu, 11/29/2018 - 08:11

Annual eCities study

Four communities across the state of Michigan have been identified for the strategies they employ to foster entrepreneurial growth and economic development, according to the annual eCities study. The study, conducted by iLabs, University of Michigan-Dearborn鈥檚 Center for Innovation Research, identified the cities of Charlevoix, Hillsdale, Marquette and Sault Ste. Marie for their successes and efforts in contributing to Michigan鈥檚 growth.

鈥淔or more than a decade, the eCities project has highlighted how local governments from across the state of Michigan are cultivating and supporting economic development. These communities show how local governments can work in distinct and strategic ways to energize public spaces, while investing in businesses and job development,鈥� said Tim Davis, director, iLabs.

The eCities study analyzed publicly available data from 277 communities from 54 counties in Michigan. Researchers focused on the five-year changes in property values, community assets and tax rates, which can demonstrate the growth, investments and cost of doing business within the community. For example, over the five-year period of 2013-2017, these communities increased their capital assets by an average of 2 percent per year by investments such as street and building improvements, technology, and emergency vehicles and equipment.

鈥淲hile accounting for only about 15 percent of the cities and townships in Michigan, the 277 communities analyzed are home to 70 percent of the population and 85 percent of the state鈥檚 commercial property,鈥� Davis said. 鈥淏y analyzing these high-performing communities, our goal is to showcase what cities and townships are doing to spur growth and how we can continue to support their efforts in developing business and encouraging entrepreneurs.鈥�

Additionally, 26 communities answered optional, open-ended questions about recent business climate improvements, future development goals, and small business attraction.

鈥淭he responses from communities that resonated most with reviewers included a clear, but brief, explanation of the business community,鈥� said Davis. 鈥淭his wasn鈥檛 done with a list of demographic details; it was with a specific example of how a policy helped business, or a point in time that helps define the community.鈥�

The communities 鈥� as well as 181 communities named five- and four-star performers 鈥� were recognized today during the Executive Speaker Series panel discussion, which discussed Michigan鈥檚 economic growth, including key areas such as capital, infrastructure, industry, and the ecosystem.

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Thu, 11/29/2018 - 13:09

The annual eCities study recognizes 181 Michigan communities 鈥� including four standouts 鈥� developing a positive entrepreneurial climate.