There are some students out there who have dreamed of starting a business some day, but that is all they have done - dreamed.

The Center for Entrepreneurship has helped students make their dreams a reality. Its scholarship program gives students the opportunity to create and operate their own business during the summer.

Kara Forrest, a 21 year-old BYU student from Mesa, Ariz., is the owner and creator of Fro Yo. She participated in the program last summer and said it was a great experience.

"I was implementing a new product at the time, and we focused on how to create more revenue, retain more customers and improve employee satisfaction - pretty much all the aspects of a business," Forrest said. "Jerry Nelson, my mentor, has been there and done that, so he has great advice from a successful entrepreneurship standpoint. He makes time for the students."

In order to become a participant in this program, students are required to submit an executive summary of their business plan, said Melinda Maughan, the program assistant for the Center for Entrepreneurship. Twelve people are selected for an interview where the committee is able to learn more about the individual and their goals. Ten people are selected for the program.

"A lot of our students have actually started their own business, but they don't have the time to manage it because they are students," Maughan said. "This scholarship program provides them the opportunity to focus completely on their business."

The recipient must commit to running their full-time business during the summer, she said. Each entrepreneur is assigned a mentor who meets with him or her twice a month. The mentor works closely with the students to help them meet their goals.

After 15 weeks the students give an oral and written presentation. If they meet the requirements, then they receive fall and winter full undergraduate tuition.

"Many of our students that come out of the program go on to do their own business," Maughan said. "They feel more confident because they have had mentors help them in the past."

The Center for Entrepreneurship scholarship program provides students with a variety of resources:

* A personal mentor

* Old business plans to glean information and ideas from

* A library with material specifically for starting a business

* Networking opportunities with students who were previously in the program

* The option to enroll in a variety of basic entrepreneurship classes

"When students are paired up with a mentor they are educated in diverse areas, such as marketing and finance, so they can take their business in the right direction," Maughan said. "It is always fun to see how the students progress, where they start from and where they go, and that's what makes it worthwhile."

Jerry Nelson, one of the program mentors, said the scholarship program helps students advance their business, increase sales and learn how to finance all the aspects of their business. Having access to professionals enables the students to move their business along quicker.

"Doing a business is lonely and full of uncertainty, but this program helps alleviate some of those stresses," Nelson said. "They are bright, hard-working, creative people. They keep me on my toes."

He said the program is beneficial for anyone who would or has got a business going.

"I wish I would have had access to a mentor 20 years ago," Nelson said. "I would have loved it, and I wouldn't have had to learn it all through the school of hard knocks."



Copyright Brigham Young University 30 Mar 2006