Free Help for Founders

I probably get at least one email a day from a founding entrepreneur that is at an early phase of development.  Oftentimes it's not a fit for me for whatever reason, but I wish I could send them someplace or to somone that could help them right away. 

Many business schools have established entrepreneurship courses; some have whole departments, endowed professorships, and even venture funds.  Few people know or leverage the fact that these schools almost all have online job posting boards for MBA candidate business school student interns who are willing to work for free or very little money.  The two online job boards that I am most familiar with are NYU's Stern School's job board and Columbia Business School's job board.  However, I am certain you will get a quick response from virtually every business school in the country.  Post an intern position ("Intern: Financial Analyst, Market Analyst, Strategy Analyst, etc"), and you will be surprised with the level and quality of interest.  If you have a vision that is compelling, and a real opportunity, it's a total no brainer to leverage local talent like this.  If there is no graduate school locally to you, oftentimes schools do have undergraduate programs in business as well with undergrads that might be helpful as well.

My only caution here is that it is a two way street, like everything in life, so that the less money you put into it, the more time you will need to put into it, to make it valuable for the student to continue their internship with you.  They have to get something of value out of the deal too, and if you are not willing to give them a challenging problem that can really move your business or a task that is pretty interesting and compelling (which shouldn't be hard to do as you are a visionary at an exciting startup, right?), then don't waste your time.   These people are pretty sharp (probably smarter than you and me! ), so make it interesting.

Another way to get into the flow of entrepreneurial wisdom, is to connect with a professor of entrepreneurship that is local to you.  Do a google search "professor", "entrepreneurship" and "business school" and your town or state and the odds are high you will be able to fine some one.   They might have a base of students that would be a fit for you or might be willing to make your company a part of their class projects. 

For instance, if you are reading this, and it's still 2006, check in with an old business school professor of mine, and sometime advisor, Murray Low, Director of Columbia Business School's Eugene M. Lang Center for Entrepreneurship, about a program he is launching to leverage the enthusiasm of Columbia's business school students for venture backed entrepreneurship.   If you are an entrepreneur that could use some help in the venture capital raising process please do apply to be a part of his Masterclass.  Students will be assigned to help promising startups during their VC pitch process this winter and spring.    It will be a selective process, and 24 companies will be selected.  I understand that the deadline has been moved to December 15th but I think there is some flexibility with that date.  (For more info: http://entrmasterclass.angelgroups.net)

The dirty little secret is that, without even having a prestigious business degree, posting an intern spot or connecting with a local professor of entrepreneurship is an cheap and easy way to tap into this kind of know-how and help.   Frankly, the help I got from Washington University in St. Louis' Olin School and Columbia Business School are a couple of the bigger reasons why I am writing today on this blog about entrepreneurship and venture capital.  I couldn't have pursued an entrepreneurial career without the encouragement of not just my professors and peers while I was in school, but more importantly these students and advisors were actually more important after I graduated and had started my first company and my venture capital firm.  With a startup, every inch counts, and these institutions are a great way to leverage more out of your resources than almost any other way I know.