5 Steps to Start Your Own Business

business administration degreeIf anyone knows how to start a business, it’s Bruce Evans and Dan DeJaeger. Business administration degree students enrolled in the Introduction to Business class at Globe University in Minneapolis were once again privileged to have fantastic entrepreneurs such as Bruce and Dan share their wisdom.

These two media experts spent years in marketing and event planning before starting their own company called BEDD Head, which provides clients with effective event marketing, media buying and promotions.

Bruce spent many years as the marketing director for ShopNBC, which the business class just recently toured.  He also was the marketing director at Market Place Events, which manages many Home and Garden shows around the country including the infamous Minneapolis Home and Garden Show!

business administration degreeDan began his career as Bruce’s intern while attending the University of Minnesota, which ultimately led him to a full time career as the marketing manager for Market Place Events – a very good reason to have an internship while attending Globe University!

Bruce and Dan’s passion was starting their own business.  They talked openly and candidly to the business administration students about making their business a reality, which included these 5 steps:

  1. Outline a high-level plan and a schedule (Which started out on a napkin for them!)
  2. Develop a business plan (Remember, it’s never real until it’s in writing.)
  3. Gather advice from mentors, peers and contacts (Don’t be scared to ask others for advice!)
  4. Prepare financially during the launch phase (Prepare for times with little or no income while you build your business.)
  5. Utilize partnerships and business relationships (You have to be willing to ask for the business – if you don’t ask you won’t receive!)

Thomas Callahan, a student who is majoring in Business Administration said, “Bruce and Dan gave me the confidence to become an entrepreneur. Globe University-Minneapolis has the best guest speakers!”

They also shared with the class 6 Ingredients to starting a business:

  1. Confidence – If you don’t believe in your business, who will?
  2. Partnerships – Connect with your existing connections.
  3. Ability to face challenges – It’s not easy but it’s worth it.
  4. Willingness to take chances and learn from mistakes – Staring your business is a risk and you will make mistakes – just learn from them and move on.
  5. Support network – Be sure to have encouraging people supporting you – eliminate the negative people.
  6. Beer and coffee – Most business meetings (and the best ones) happen over a happy hour or coffee.

To learn more about the business administration degree program at Globe University in Minneapolis, call 1-877-303-6060.