By JOHNIE TOLMAN
The growth of entrepreneurship in Utah Valley is being fueled by BYU students, making Utah County one of the fastest growing areas in the nation for business.
According to an article by Time Magazine, Utah now boast’s the nation’s youngest, best-educated and most productive work force. An aggressive economic development program to create new jobs at a rate of 30,000 a year is projected, and companies and individuals from across the nation are eager to be a part of Provo/Orem’s economic success.
Utah County’s dramatic growth in business can primarily be attributed to the motivation of young entrepreneurs.
According the Journal of Business Colleges of Utah, eight out of 10 graduates express the desire to work for themselves — to run their own company within 10 years. At BYU, nine out of 10 graduates expressed the desire to start their own business.
“Our entrepreneurship program is successful because our entrepreneurs are motivated people with good work ethics, which enable them to be leaders of change,” said Donald H. Livingstone, director of the Center for Entrepreneurship at BYU.
Livingstone said BYU students are successful as entrepreneurs because they have the skills required to succeed: the ability to sell or market ideas, whether it be selling the concept, recruiting financial resources or key individuals.
“Most of our graduates and undergrads have served 18-month or 24-month missions for the Church of Jesus Christ of Latter-day Saints, covering every major country of the world,” Livingstone said. “This experience has given them the confidence and abilities to sell, to market, to communicate with others and to serve and put back into the community.”
“Additionally, nearly half of our student body speaks a foreign language fluently and have lived in foreign countries during their missionary experience. As the world moves to a global economy, and as entrepreneurism expands internationally, this language and skill experience is proving invaluable,” he said.
Livingstone said that in Utah, because of the influence of LDS leaders, there is a basic understanding of hard work and a strong will to succeed, which has contributed to making it an entrepreneurial state.
John Coon, a MBA graduate student from Provo, said the success of a business depends on the character and personality of the entrepreneur.
“I have learned in life that you can’t just sit around doing nothing if you want good things to happen,” Coon said. “In the business world you need to be self-motivated, a real go-getter, you have to set goals and then do everything in your power to reach them.”
Coon, an entrepreneur as of 2 years ago, came up with the idea of 1-800-CONTACT, a mail order service that enables people who wear contacts to call in their orders directly to his business without the hassle of making an eye appointment.
“This year our estimated gross will be $6 million to $7 million, and we know that it will not stop there,” Coon said.
Coon attributes a lot of his success to the entrepreneurship program at BYU.
“The Center for Entrepreneurship provided me with the opportunity to gain valuable education and to take that knowledge with me into the work place,” he said.
In 1995-96, Success magazine rated BYU as one of the 25 best schools for entrepreneurship.
Rick C. Farr, assistant director for the Center of Entrepreneurship at BYU, said, “Seventy percent of students who attend our 381R course are not business majors. When you compare these percents to other colleges in the nation, where 60 percent of entrepreneurs are business majors, it shows that our students are excited about being entrepreneurs.”
Farr said the mission of the Center of Entrepreneurship is to provide education and practical experience to any qualified student on campus, regardless of a student’s major or level of study.
“Several of the students at BYU who graduate and who are entrepreneurs feel it is a privilege to give back to the college and community, which would explain why our immediate geographic area is one of the leading areas in the country for entrepreneurship in height technology,” Farr said.
Heidi Lazerson, a graduate in fashion design, is the president and head designer of a million dollar company, Snaps `n’ Snails, which designs boys clothing. Snaps `n’ Snails clothing is being sold in several prestigious department stores, including Niemann Marcus, Nordstroms, Fifth Avenue and Dillards.
“After graduating from BYU I felt that I was prepared to start my own business, thanks to support from some of my friends and professors. I wanted to give back to the community that has so richly blessed my life through my business,” Lazerson said.
Snaps `n’ Snails was recently featured in USA Today for winning a prestigious fashion design award, named “The Ernie,” which was won by Ralph Lauren the previous year.
“When we received the award I was so proud to hear the name of Provo, Utah mentioned as home sight for such a successful entrepreneurial business,” Lazerson said.
Lazerson said she hopes that her company will bring much success and recognition to Utah, and especially to BYU.
