a philosophy of entrepreneurship

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Subject: The Philosophy of Entrepreneurship
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A Profile of Elliot McGucken, Ph.D.
Author and Professor, University of North Carolina at Chapel Hill

Elliot McGucken has an artful way of teaching entrepreneurship to
artists. He explains the entrepreneurial process, for instance, by
comparing it to the classic "hero's journey" in myths and epics.
Typically, in the first stage of the story, the hero embarks on a
quest that requires "separation" or "departure" from the familiar
world (here McGucken finds strong parallels to the decision to start a
company) . . . and after many twists, the journey ends with the hero's
"return" (the exit strategy).

"Every aspect of classical story, including antagonists, mentors,
reversals of fortune, and the seizing of the sword from the stone, may
be found in the realm of entrepreneurship," McGucken claims. And
there's more. The college course he designed=97open to students in any
major, working in any of the visual, literary, or performing arts=97
mixes classical concepts with cutting-edge practical advice, such as
how to use open-source digital rights management to keep the ogres
from snatching your profits.

"Ideals Are Real"
The course is called Artistic Entrepreneurship and Technology (AE&T)
101. First offered this past spring at the University of North
Carolina at Chapel Hill, with support from the Kauffman Campuses
Initiative, it has drawn rave reviews from students. The core message
of AE&T 101 is that "ideals are real," and in fact are practical: that
you don't have to choose between being a starving artist or selling
out. By starting a venture of your own that combines high artistic
standards with sound business principles, you can "rock your dreams,"
McGucken tells students; he says that in the arts, as in business,
pursuing "fundamental value" pays off.

McGucken began his career in science. In the late 1990s, he was a
promising young physics researcher with a faculty position at Davidson
College. But he wrote on the side and had long loved classical
literature, from the Greeks to the great novelists. Feeling that these
got too little attention nowadays he launched a Web site,
jollyroger.com, to host online forums about the "Great Books" and to
offer his own commentary. And lo, the quest drew eyeballs. Before
long, he says, "the advertising income from jollyroger was more than I
was making from my professorship."

By the 2005=9606 academic year, McGucken was involved with several
more
arts-related Internet ventures while teaching physics part-time at UNC
at Chapel Hill. There the Kauffman Campuses mission to teach
entrepreneurship in all fields inspired his creation of the AE&T
course, which immediately had the look of an idea whose time had come:
More than 110 students applied for forty seats.

Taking Steps to Success
Those chosen included undergrads from the liberal and fine arts, plus
artistically oriented computer-science students, masters of business
administration, and a law student. They combined their skills on
projects, actually starting arts ventures or moving them along. Some
showed up with ventures well under way, like Will Hackney, a freshman
with over a dozen local bands signed to a record label he'd started in
high school. Pierce Freelon, an African-American Studies major and
member of a hip-hop duo called Language Arts, was branching into
ventures ranging from a Web site on "blackademics" to the design of a
hip-hop curriculum for K=9612 schools.

By starting a venture of your own that combines high artistic
standards with sound business principles, you can "rock your dreams,"
McGucken tells students.

And some were talented artists who hadn't yet turned entrepreneurial.
Hannah Sink, a student filmmaker who had shot two documentaries in
Thailand with grant funding, recalls: "I just had the idea that one
day, maybe in fifteen or twenty years, I'd like to start my own
production company. What I learned is that I can start taking the
steps now. So for me this course was about homing in on a desire I
already had, and learning the tangible things: forming an LLC,
protecting your rights, using technology." During the course, Sink and
a colleague, Hope Blaylock, started Continuous Take Productions. The
firm is still embryonic but the main thing, says Sink, is that "this
is real. We know where we are in the process. If and when we take the
next steps, we know what we have to do."

Elliot McGucken, meanwhile, has carried AE&T 101 over to Pepperdine
University, where he's a visiting professor for 2006=962007.
Replication
and expansion of the course has thus begun, and McGucken has a larger
reason for hoping the effort will grow. He sees much of today's
cultural industry as being in a "decadent state," with big media firms
giving us low-grade movies, books, and other products even in the face
of declining revenues. "When you put the bottom line above high
ideals, both suffer," he says. But a new wave of artist/
entrepreneurs=97
armed with the skills to assert artistic control by starting and
controlling businesses=97could help turn things around. "There's an
opportunity," McGucken says, "for a cultural renaissance."

Elliot McGucken

Kauffman Foundation Weblog > Member List > Elliot McGucken

Elliot McGucken
Kauffman Campuses

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

Elliot McGucken=92s IT Conversations Podcast on Artistic
Entrepreneurship & Technology 101
Posted: Jan 24, 2008 1:46 PM CDT
Topic/Type:
Author: Elliot McGucken

http://itc.conversationsnetwork.org/shows/detail1887.html

Tired of being a starving artist? Dr. Elliot McGucken's Artistic
Entrepreneurship & Technology 101 puts together a new approach to
entrepreneurship and the arts through a fascinating application of the
classic journey of mythological heroes. McGucken, a physicist, has
taught the class at both UNC Chapel Hill and Pepperdine, and has
expanded the concept through blogs, a festival, and an upcoming book.

In this interview McGucken describes how the course applies the
structure of the monomyth, the fundamental pattern of the great hero
narratives throughout history, from Odysseus, Jesus, and Buddha to
Star Wars, Lord of the Rings, and The Matrix. Also called the Hero's
Journey, Joseph Campbell identified this pattern in his book The Hero
With A Thousand Faces. McGucken even takes it a step beyond, using
examples from modern real-life success stories like Richard Branson
and Kid Rock.

McGucken explains why the web's democratization of both the means of
production and distribution can be used by the big companies to
continue to exploit artists, or instead used by indie artists
themselves who preserve their own rights in their successful journey.
It's your choice, if you take it.

Elliot McGucken was born in Ohio, and grew up outdoors except for when
he was sitting in front of a computer. He received a B.A. in physics
from Princeton and a Ph.D. in physics from UNC Chapel Hill where his
dissertation on an artifical retina for the blind received several NSF
grants and a Merrill Lynch Innovations Award. The retina-chip research
appeared in publications including Popular Science and Business Week,
and the project continues to this day.

In 1995 McGucken founded Classicals & jollyroger.com LLC as a
technological tribute to the great books, and he has spoken at the
Harvard Law School concerning his authena.org project for Open Source
software for managing digital rights for artists. McGucken, known as
"Dr. E" to his students, teaches physics and programming at the
University of North Carolina at Chapel Hill, and has published a
poetry book, a novel, a collection of essays, several scientific
articles, and poetry in The Wall Street Journal.

McGucken founded the Hero's Journey Entrepreneurship Festival in
Malibu, CA. Keynote speakers have included John C. Bogle, the founder
and former CEO of Vanguard, and William Fay, executive producer at
Legendary Pictures. The festival pays homage to Joseph Campbell's Hero
With a Thousand Faces and the Hero's Journey in all walks of life.

From: http://itc.conversationsnetwork.org/shows/detail1887.html

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Kauffman Campuses

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Email this post:
Title: Artistic Entrepreneurship at Entrepreneur Magazine Blog
Author: Elliot McGucken
Description: http://www.entrepreneur.com/blog/0,6834,,00.html#1
Entrepreneur Magazine's Blog Mixing Art With Entrepreneurship Teresea
Ciulla of Entrepreneur Magazine writes, "Can you actually make your
passion your profession? According to Dr. Elliot McGucken, a professor
at the University of North Carolina, Chapel Hill, who's teaching the
university's first "Artistic Entrepreneurship & Technology 101" class,
the answer just may be yes. McGucken's class, which is comprised of a
group of 45 students majoring in law, business, art, computer science,
journalism and music, focuses on teaching students about creating
value over just making money, about letting their higher ideals guide
the bottom line. After all, as McGucken says, "Successful companies
aren't successful because they make money--they're successful because
they create value." Class projects range from a classical music video
to a hip hop curriculum and textbook to an online art gallery to a
freshman's record label that's signed more than ten bands to a social
network being programmed by three computer science majors. Students
are seeing that to the degree they succeed in creating useful art and
ventures, they'll be able to support their passions with a profitable
business. And isn't that what we're all really striving for? To find
an excitement in our work in order to beat back the dullness of the
typical 9-to-5 routine? Looks like McGucken's found a way to inspire a
new generation of artistically minded entrepreneurs to follow their
passions--and make a living. Check out: Mixing Art With
Entrepreneurship http://www.entrepreneur.com/blog/0,6834,,00.html#1

Kauffman Campuses

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
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please email Desiree Vargas.

Email this post:
Title: Artistic Entrepreneurship & Technology & Entrepreneurship @
Carolina
Author: Elliot McGucken
Description: Students find dream jobs In class, passions fuel business
plans By: Erin Wiltgen, Staff Writer, Daily Tar Heel For many,
childhood and adolescence pass in a blur of hobbies and passionate
adventures, activities seeped in a deep-seated excitement and love
inherent in a particular pastime. In UNC professor Elliot McGucken's
"Artistic Entrepreneurship and Technology" class, students and
teachers work to "make your passion your profession," transforming
students' dreams and interests into potential paths for the future.
The unique course allows students interested in fields such as
photography, video games, painting, classical music and film
production to explore commercial and social ventures in the arts. They
search for and create a plan based in entrepreneurship, which supports
and nurtures their individual visions. "A lot of times school tells
you that your dreams aren't important," says McGucken, a physics
professor. "But in reality dreams are the best thing you can have."
The class consists of an independent project that includes three
presentations, guest lectures and small-group collaboration. Sophomore
Phil Gennett's project is a clothing line, and he is trying to find a
manufacturer for his creations. He also intends to set up a talent
agency. "I want to blow it up into a new sort of entertainment, like
American Idol, but also as a social network for opportunities,"
Gennett says. Sophomore Ryan Dean is working on multiple projects. He
runs a graphic design company called Cellar Door Design. He also has
joined with a photographer in the class to create CD booklet artwork
for the second album by his band, The Anchor Comes Home. "What's most
helpful is meeting like-minded people," Dean says. "The best thing
about this class is establishing relationships with the other students
and collaborating with each other." Stefan Estrada, graduate student
and teaching assistant for the class, shares a similar view. "The
people in this class have ambition and a vision of things they want to
accomplish," Estrada says. "This isn't a class where you get something
done and forget about it. It continues to maybe become your career."
Continuing entrepreneurship in the real world is the goal of the new
and expanding entrepreneurship program at UNC, says Buck Goldstein,
the entrepreneur in residence at the Carolina Entrepreneurship
Initiative. "(The class) is a tiny piece of a much bigger picture," he
says. Goldstein is a key player in the development of the
entrepreneurship minor. "It's making entrepreneurship part of the
fabric of the University, and is a groundbreaking first effort in
understanding the needs of the artistic community." Goldstein points
out that the word "entrepreneurship" comes from a French word meaning
"to take action." He says entrepreneurship is about transforming the
ideas into reality and a way of thinking about opportunity - be it in
the social, artistic or scientific realm. "The popular view is that
(entrepreneurship) is about business," Goldstein says. "But our view
is that it's about opportunity and how to transform that opportunity
into reality." The new entrepreneurship minor comprises four courses,
with specialized classes in each perspective. In addition to
McGucken's class, social entrepreneur Jim Johnson is working toward
the social aspect of the entrepreneurship program. Meanwhile, Holden
Thorp, chairman of the chemistry department, is planning a scientific
entrepreneurship track. Although the project has yet to be approved by
the administrative board, Thorp says he has high expectations for the
class. He plans to cover material such as intellectual property, law
and venture finance. "A lot of our students end up working in small
companies," Thorp says. "The better we can prepare them for that
environment and for the challenges, the better off they'll be."
Goldstein says classes that focus on the different aspects of
entrepreneurship are "another initiative for entrepreneurship and
opportunity." "We give students some tools that will enable them to
compete in an increasingly entrepreneurial world." McGucken also says
that entrepreneurship classes give students a broader knowledge base.
"It's an irony that the University requires you to specialize when
people typically end up switching jobs five or six times and need to
know about a lot of different things," McGucken says. At 5 p.m.
Tuesday, the class will host a show at Local 506 on Franklin Street.
The show, called "Rocky Raccoon's High Tech Hollywood Hip Hop Hedge
Fund Hoedown and Fashion/Art/Photography/Video Games Showdown" will
feature musical and spoken-word performances, fashion shows, film and
video screenings and displays of visual art and photography. The show
is designed as a networking event and as a benefit for the Music Maker
Relief Foundation and three web sites - OSCommerce.com, Joomla.org and
Gallery.menalto.com. The Music Maker foundation works to help pioneers
of Southern musical traditions gain recognition and meet their
financial needs. One goal of the show, and the class itself, is "to
build new cultural centers," McGucken says. "The University has been
separated artificially," he says. "This class has naturally collapsed
all the barriers between business and art and law, putting all the
power in the hands of the creator."

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Title: Arts Entrepreneurship as An Academic Discipline
Author: Elliot McGucken
Description: ENTREPRENEURSHIP AS AN ACADEMIC DISCIPLINE a lecture
delivered in Dr. E=92s freshman seminar, October 2006 by Dr. Elliot
McGucken, BACK STORY =93When storytelling declines, the result is
decadence.=94 =96Aristotle, Poetics =93Flawed and forced storytelling
is
forced to substitute spectacle for substance, trickery for truth. Weak
stories, desperate to hold audience attention, degenerate into
multimillion-dollar razzle-dazzle demo reels. In Hollywood imagery
becomes more and more extravagant, in Europe more and more decorative.
The behavior of actors becomes more histrionic, more and more lewd,
more and more violent. Music and sound effects become increasingly
tumultuous. The total effect transnudes into the grotesque. A culture
cannot evolve without honest, powerful storytelling. When society
repeatedly experiences glossy, hollowed-out , pseudo-stories, it
degenerates. We need true satires and tragedies, dramas and comedies
that shine a clean light into the dingy corners of the human psyche
and society. If not, as Yeats warned, =91=85the center cannot
hold.=92=94=
=97
Robert Mckee, Story Yet while Vanguard too has emerged as a sort of
prototypical 21st century firm=97a virtual organization, enormous in
size, heavily reliant on process, on real-time communications and
computer technology, and managed largely by the contemporary numeric
standards of modern management=97its founding values remain intact. At
our core, we remain a prototypical 18th century firm, thriving on our
early entrepreneurship, on our simple investment strategies, on
eternal verities such as service to others before service to self, and
on putting the interests of shareholders ahead of the interest of
managers, doing our best to hold high the belief that ethical
principles and moral values must be, finally, the basis for any
enterprise worth its salt. =96John Bogle, Founder and former Chairman
of
Vanguard There's a difference between us. You think the people of this
land exist to provide you with position. I think your position exists
to provide those people with freedom. And I go to make sure that they
have it. =96William Wallace in Braveheart, by Randall Wallace Man
should
not be in the service of society, society should be in the service of
man. When man is in the service of society, you have a monster state,
and that's what is threatening the world at this minute. =96Joseph
Campbell, author of Hero With a Thousand Faces THE CALL TO ADVENTURE
The modern university can benefit vastly from the academic field of
entrepreneurship. Entrepreneurship serves the students by teaching
them that the classical, eternal precepts of a liberal arts education
are most useful tools. The field of entrepreneurship can exalt
universities to higher roles of leadership, where rather than costing
more via spiraling tuitions outpacing inflation to support esoteric
studies, education regains a practical spirit, becoming an entity that
creates wealth for the greater community, fostering small businesses
run by and employing students and professors. Entrepreneurship focuses
a liberal arts education on practical, meaningful results; encouraging
students to work for more than a grade=97to work for their future, to
take ownership in their lives and in investments of their time and
money=97to assess risk, call the bluff of the promised pension, and
make
their passions their professions. Artistic entrepreneurship can return
the moral premise=97that seed of every lasting work of art and epic
business venture, of faith and the family=97to Wall Street and Main
Street; to Hollywood and the Heartland. And the Academy can lead the
way. In the digital age, rather than just studying case studies in
entrepreneurship, the students can become the case studies on a small
scale. With little capital risk, they can register domain names, file
for copyrights and trademarks, and launch ecommerce sites. And when
students have ownership in their own projects and visions, the
textbook=92s case studies come to life. It=92s no longer merely
academic=97
suddenly the university is about acquiring the practical and aesthetic
tools to follow one=92s dreams. Entrepreneurship provides a method and
means to unite the professional schools and the classical liberal arts
disciplines that have become artificially separated on the modern
campus. Business, law, art, and technology congregate in the
classroom, just as they must in the real world so as to provide useful
and meaningful results such as the iPod and the xBox 360; and just as
they do when a freshman shoots a digital picture, defines her rights,
and uploads it for sale in a span of a few minutes. The field of
entrepreneurship can inspire the academy with an exalted rigor,
wherein students are inspired to read works such as the Constitution
and Great Books more deeply, while working more diligently so as to
further the projects they have ownership in. CROSSING THE THRESHOLD
The Artistic Entrepreneurship & Technology class I am teaching at
Pepperdine University and which I have taught at UNC Chapel Hill,
whose syllabus maries Joseph Campbell=92s Hero=92s Journey to the
entrepreneur=92s quest, offers an "artistic" and efficient way to
communicate the natural value of entrepreneurship's classic ideals.
Qualities such as character, honor, and integrity are perhaps the most
important assets in entrepreneurship, just as they are in enduring
literature, and there is no better way to teach them then via
classical myths. All law derives from epic storytelling, and
entrepreneurs such as Steven Jobs, Richard Branson, Randall Wallace,
and John Bogle of the Vanguard Group, have all followed the Hero=92s
Journey in their entrepreneurial quests, which students may be
introduced to via entities they already know, such as The Matrix, Star
Wars, and The Lord of The Rings, and Braveheart. Joseph Campbell=92s
Hero with a Thousand Faces makes an excellent central text for the
class. APPROACH TO THE INNER-MOST CAVE In addition to hosting guest
lecturers and successful entrepreneurs, in addition to case studies,
an academic discipline must seek out the eternal precepts and
principles of the field, which serve as practical tools when applied
in the student=92s living projects and ventures. Artistic
Entrepreneurship and Technology is where the rubber hits the road,
where Shakespeare, Homer, and Dante=97and Jefferson, Hamilton, and
Madison=97provide practical inspiration complementing Jobs, Bogle,
Branson, and Cuban. And over time a textbook may emerge, along with a
workbook, based on the general structure of the Hero=92s Journey,
showing the importance of the moral premise in all lasting ventures,
and offering accompanying workbooks and websites to help the students
along in entrepreneurial endeavors. MEETING THE MENTORS We need to
listen to distinguished mentors, both classical and contemporary, who
are calling upon us to place the higher ideals over the bottom line=97
those who have taken risks and bet on moral precepts that have become
blockbuster movies such as Braveheart and enduring ventures such as
Vanguard. In a speech entitled, Capitalism, Entrepreneurship, and
Investing The 18th Century vs. the 21st Century (January 25, 2006)
John Bogle, founder of the Vanguard Group, stated: But at its best,
entrepreneurship entails something far more important than mere money.
Please do not take my word for it. Heed the words of the great Joseph
Schumpeter, the first economist to recognize entrepreneurship as the
vital force that drives economic growth. In his Theory of Economic
Development, written nearly a century ago, Schumpeter dismissed
material and monetary gain as the prime mover of the entrepreneur,
finding motivations like these to be far more powerful: (1) "The joy
of creating, of getting things done, of simply exercising one's energy
and ingenuity," and (2) =93The will to conquer: the impulse to
fight, . . . to succeed for the sake, not of the fruits of success,
but of success itself.=94 In order to reform Wall Street, Bogle is
calling for nothing less than a literary renaissance, for as General
Macarthur said, =93It must be of the spirit if we are to save the
flesh.=94 On the first page of his book The Battle for The Soul of
Capitalism, Bogle quotes not an economist, but Joseph Campbell and the
Bible. . . . The most recent episode witnessed the culmination of an
era in which our business corporations and our financial institutions,
working in tacit harmony, corrupted the traditional nature of
capitalism, shattering both confidence in the markets and accumulated
wealth of countless American families=85 at the root of the problem,
in
the broadest sense, was a societal change aptly described by Joseph
Campbell: =93In medieval times, as you approached the city, your eye
was
taken by the Cathedral. Today, it=92s the towers of commerce. It=92s
business, business, business. We had become what Campbell called a
=93bottom-line=94 society. But our society came to measure the wrong
bottom line: form over substance, prestige over virtue, charisma over
character, the ephemeral over the enduring, even mammon over God. =96
John Bogle, The Battle for the Soul of Capitalism Bogle=92s Vanguard
mutual fund=97an entrepreneurial startup based on his senior thesis at
Princeton=97is the world=92s largest and most-revered. It is a
maverick
fund that bypasses the intermediaries and provides maximum returns for
small investors=97a fund that embodies entrepreneurship=92s central
maxim=
=97
the risk takers ought get the rewards. Wall Street will be reformed
when the Academy is reformed=97when the Academy again places the
higher
ideals over the bottom line and requires the study of the epic myths
and everlasting principles. And the academic field of entrepreneurship
could accomplish this. The immediate case studies will change over
time, and the student=92s projects will have to surf the cutting edge
of
their day=92s technology; but the textbooks on entrepreneurship must
be
founded upon those precepts that never change, from Homer=92s Odyssey
on
down=97the humble hero=92s journey. So it is that the class becomes a
core
institution, serving freshmen and business and law students=97teaching
all that the greater wealth is to be had by keeping he higher ideals
over the bottom line=97serving film students in a most efficient
manner
by teaching them that the story of their films, lives, and business
ventures=97all based upon common moral precepts=97are parallel
journeys.
FORMING THE FELLOWSHIP Entrepreneurship unites the professional
schools
=97the business and law schools=97with the undergraduate program, and
my
classes have included students from all, ranging from a freshman with
a successful record label to a third-year law student. All forty-five
of us learned from one-another and the classics, and even the student
who came in with an anti-capitalist bent soon agreed it was a good
thing that her favorite band get paid, so that they might make more
songs. We learned that just like the =93force=94 in Star Wars,
capitalism
can serve exalted or degraded purposes, and that its rightful role is
letting creators protect and profit from what they do; rewarding not
the bureaucracy nor the intermediaries nor the tech-transfer
departments, but the risk-takers=97the authors, inventors, investors,
and innovators on the front lines of entrepreneurship. Simply put, we
learned the US Constitution: The Congress shall have Power to promote
the Progress of Science and useful Arts, by securing for limited Times
to Authors and Inventors the exclusive Right to their respective
Writings and Discoveries; =97The United States Constitution, Section
8,
Clause 8 And I ask each class=97=93imagine what would happen if the
CEO of
Apple or Sony or Yahoo or Microsoft were to neglect the art, the
business, the law, or the technology. Imagine if you worked your whole
life for a pension that evaporated, whereas you could have invested in
your greatest asset=97your passions and dreams. Imagine if you could
endow video games with epic storytelling=97with a soul so that the
photo-
realism might gain a spiritual realism, so that video games might
become enduring art; thusly increasing their markets and enhancing
their brands. The world is yours for the making, and a renaissance is
yours for the taking.=94 THE ROAD OF TRIALS: TEST, ALLIES, AND ENEMIES
While MBA programs typically want the liberal arts students to walk on
over to the business school to learn about accounting and business
structures before launching ventures, MBAs have just as much to gain
by walking over to the arts and literature departments, to learn of
aesthetics and the everlasting principles expressed in Homer on down.
Would that more MBAs who ran the likes of Enron and Worldcom and the
countless other postmodern debacles had read classics such as
Dante=92s
Inferno and The Iliad, in which Achilles said, =93For as I detest the
doorways of Death, I detest that man, who hides one thing in the
depths of his heart, and speaks forth another.=94 Would that more
artists had read the classics too, so that we might have avoided the
recent scandals in NY publishing of plagiarism and fake memoirs, and
so that the Hollywood box office might be revived with classical
ideals performed in the contemporary context, rather than soulless
remake after remake after remake. As Aristotle said, =93When
storytelling declines, the result is decadence.=94 And so it is that
Artistic Entrepreneurship is after that higher exit strategy, that, in
Herman Melville=92s words, cannot be =93counted down in dollars from
the
mint.=94 The wealth of a renaissance might not show up on the
immediate
balance sheet of the day-trader or intermediaries seeking to maximize
transaction fees, but there is no better long-term investment for
civilization. Einstein noted, =93Not everything that counts can be
counted, and not everything that can be counted counts.=94 Too many
economists, by neglecting the family, literature, and our cultural
heritage; and instead focusing on obscure equations that the world=92s
greatest investors=97such as Bogle and Buffett=97deem as useless at
best
and devious at worst, end up as siphoners of wealth instead of
creators of wealth. The field of entrepreneurship must recognize the
source of wealth=97the individual creators and those systems,
recognized
by classic economists such as Adam Smith=97that benefit and bolster
the
individual creator. The study of entrepreneurship must be a study of
those systems that recognize and protect the natural rights of every
person to say what they want and own what they do. In his 1906 address
concerning copyright delivered to Congress, Mark Twain paid homage to
these natural rights, citing two fundamental documents which are
either ignored or taught only to be deconstructed: I am aware that
copyright must have a limit, because that is required by the
Constitution of the United States, which sets aside the earlier
Constitution, which we call the decalogue. The decalogue says you
shall not take away from any man his profit. I don't like to be
obliged to use the harsh term. What the decalogue really says is,
"Thou shalt not steal," but I am trying to use more polite
language. . . The laws of England and America do take it away, do
select but one class, the people who create the literature of the
land. They always talk handsomely about the literature of the land,
always what a fine, great, monumental thing a great literature is, and
in the midst of their enthusiasm they turn around and do what they can
to discourage it. So it is that in seeking to teach entrepreneurship,
we must be careful of not discouraging it. =93Can entrepreneurship be
taught?=94 is a question that echoes of Socrates=92 classic
question=97 =93=
Can
virtue be taught?=94 Socrates wasn=92t sure, and his humility should
serve
as a guiding beacon in devising curriculums on entrepreneurship, as it
did for Benjamin Franklin, whose thirteenth precept was, =93Humility:
Imitate Socrates and Jesus.=94 The eternal aspects of art are no
stranger to the world=92s greatest investor. Warren Buffett claims,
=93I
am an artist=97not an investor.=94 And too, he says that his favorite
time
for holding a stock is eternity=97that would be the very same eternity
Shakespeare and Dante wrote for, based on the very same classical
entities Buffett studies=97the fundamentals of truth and beauty=97of
simple, honest arithmetic over convoluted, pretentious, postmodern,
and ultimately devious financial chicanery with but one intent=97to
transfer all the wealth to the intermediaries and the all risk to the
investors, workers, and creators. =91Tis a world inverted, and it
brings
to mind Hamlet=92s words, =93The time is out of joint: O cursed spite,
That ever I was born to set it right!=94 Buffett says, =93It has been
helpful to me to have tens of thousands students turned out of
business schools taught that it didn=92t do any good to think.=94
Buffett
is making his point in a comic manner, as one laughs that one might
not weep, but there has been tragedy too. As John Bogle points out,
the lack of higher, exalted knowledge amongst the MBAs on Wall Street
has not benefited the common working man=97the teachers, preachers,
and
firemen=97who trust Wall Street with their savings, investments, and
pensions. Indeed=97it is not Wall Street that creates wealth=97it are
the
people of this country and the world living the free market system and
taking the risks=97the workers, business owners, natural
entrepreneurs,
and visionaries. As Buffett acknowledges, =93too much intelligence and
energy is being devoted to scraping the crumbs off the table of
capitalism instead of preparing the meal.=94 The academic field of
entrepreneurship must be devoted to recognizing, bolstering, and
empowering those rugged individuals who are =93preparing the meal.=94
THE
APOTHEOSIS The field of entrepreneurship has a wonderful power to
focus diverse academic pursuits on a common goal=97it calls upon
education to focus on practical, tangible, and useful results=97to
render lofty ideals real, thusly emphasizing the great value of a
liberal arts education in all pursuits. And it calls upon students to
focus their energies on their passions and dreams, whereby they learn
that a big trick of success is =93working hard at what you love,=94 as
Steve Jobs suggested in his 2005 Stanford commencement address. In
many ways a class on entrepreneurship is a study of American History,
bringing in the founding documents on the first day, showing the
students the words that stipulate that they get to say what they want
and own what they do. Entrepreneurship, rather than displacing the
liberal arts as some might have feared, exalts the liberal arts to a
guiding role and calls upon the students to take the classical
precepts to heart. For just as the liberal arts are the center and
circumference of that most enduring business plan by which all modern
business plans are written=97the United States Constitution=97so it is
that the liberal arts must be the center and circumference of any
curriculum devoted to entrepreneurship. Classic entrepreneurship has
ever been about holding the higher ideals above the bottom line, about
creating value as opposed to making money. And this is a lesson best
taught by the enduring poets and prophets of yore=97to be introduced
in
classes devoted to entrepreneurship, answering the natural yearning in
every student=92s heart and soul to serve a greater purpose, and
create
wealth via exalted meaning. A man is rich in proportion to the number
of things which he can afford to let alone. --Henry David Thoreau In
seeking out its defining precepts, the academic field of
entrepreneurship looks towards those classic stories told over and
over, with similar themes but ever-changing characters. From
Braveheart, to The Matrix, to The American Founding, it's always about
=93we the people=94 stepping up and creating =93a better form of
government,=94 or business, or enterprise in the context of property
rights where one gets to profit from the fruits of one=92s labor,
where
integrity and honor walk hand-in-hand with owning what one creates;
where freedom comes with the responsibility to do something useful
with it. It's about long-term investing paralleling Odysseus's
journey=97
forgoing the temptations of the Lotus Eaters and Sirens to serve
one=92s
men=97one=92s employees and shareholders and customers=97to make it on
home=
.
Entrepreneurship emphasizes value-investing as do Buffett and Bogle=97
investing one's time in worthwhile pursuits that have solid
foundations
=97based in truth, beauty, and duty=97based in service not of the
bottom
line, but the higher ideals. Based in service not of the managers, but
of the customers. THE ULTIMATE BOON The world is ready for a
renaissance, and entrepreneurship as an academic discipline can lead
the way. The higher ideals must be placed above the bottom line on
Wall Street and in Hollywood, on Main Street and in the heartland. And
who better to accomplish this than today=92s Academy=97by
communicating
the vast opportunities of applying classical ideals, to every student?
So it is that the academic discipline of entrepreneurship could exalt
and entertain the contemporary culture, taking it to a better place.
Thinking entrepreneurially can also help students in the context of
established companies and institutions=97all of which must serve the
customer in novel, ever-changing ways that surf the cutting-edge of
technology=97all of which must seek to continually reward the risk-
takers and reign in the bureaucracy. Entrepreneurship can provide the
student with the basic tools to launch new ventures centered around
the novel, useful ideas that their boss=92s bureaucracy rejects. While
most business schools hold business plan competitions and teach
classes on entrepreneurship, they don't always do a great job at
reaching out to the natural entrepreneurs=97artists, coders, web
designers, creative writers, science grad students, and local small-
business owners=97those reluctant heroes who=92re following their
passions
and dreams and who possess the natural integrity and idealism that
will allow them to follow those dreams come hell or high water=97on
past
all those hurdles=97on towards rendering sustainable ventures, as the
rugged precepts in their souls become the character of their
enterprises. Such naturals need to meet one-another=97they need a
class
or two providing them with all the fundamentals of incorporation and
intellectual property law. That is the purpose of Artistic
Entrepreneurship and Technology 101. I knew so many indie labels in
Chapel Hill, so many coders running small but profitable ventures=97so
many grad students with cool ideas who never made it over to the
business school=97true entrepreneurs who could benefit from an
efficient, useful class that taught of entrepreneurship=92s immortal
precepts and the practical tools of the trade. Who would benefit most
not from handing over their creations to the bureaucracy of the
technology-transfer departments, but from networking with one-another,
and learning how to incorporate, leverage technology, and protect and
profit from their intellectual property. Who would benefit not from
studying venture capital, which is oft little more than a lingering
legacy of a bygone era which corrupted entrepreneurship by making it a
tool of elite insiders to profit off of fake companies in 1999, but
who could benefit from learning about entrepreneurship from that
original American entrepreneur=97Benjamin Franklin=97who emphasized
virtues first and foremost=97virtues such as frugality and humility.
For
what does it profit one to gain the world and lose one=92s soul? THE
ROAD HOME So I created a business class for artists and an art class
for MBAs=97a class for the creative types across all disciplines, as
every artist is an entrepreneur and every entrepreneur is an artist=97
and I based the class on Joseph Campbell's Hero's Journey. The classic
hero=92s journey speaks to all levels, to all cultures, to all
religions. There are multiple parallels between the entrepreneurial
journey and the classical myth that pervades movies ranging from The
Matrix to The Lord of The Rings to Star Wars=97the call to adventure
(seeing an opportunity), refusal of the call (it's too hard=97somebody
else would have done it=97working a corporate job with a pension is
safer), meeting the mentor (finding the angels/professors/books/
coaches/leaders/entrepreneurs who can help), crossing the threshold
(the point of no return=97signing the lease/hiring employees), seizing
the sword from the stone (getting the patent/raising funds), the
showdown/ordeal (facing down competitors), tests, allies, and enemies
(collaborators, competition, and shapeshifters). And even after all
that, even after the patent has issued and the funds have been raised,
there's still the classic road on home (getting the product to
market!) and the return with the elixir=97the exit strategy. And too,
there's the belly of the whale (Steve Jobs being kicked out of Apple
by the MBAs and into the darkness of NEXT) and the resurrection (Steve
Jobs returning on home, reinventing Apple with the iPod, and leading
it to new heights). And it's always the least likely suspect=97the
reluctant hero=97who somehow succeeds by keeping the higher ideals
over
the bottom line=97Frodo was just a little Hobbit, Neo was a lowly
cubicle worker=97and Jobs, Branson, and Gates have not a college
degree
between them. The class teaches that failure isn't failure, so much as
a small step along the greater journey. In tirelessly testing
different filaments, Edison said, "I have not failed 1,000 times. I
have successfully discovered 1,000 ways to NOT make a light bulb." The
rigor of the Great Books and Classics is present every step of the
way, along with practical applications of that wise rigor. We read the
US Constitution wherein the only place the word =93right=94 is
mentioned
is with respect to the right of the creator to own what they do. And
then we surf over to the uspto.gov website to see how simple it is to
conduct trademark and patent searches, and to find the forms for
patents, copyrights, and trademarks. The class mixes the eternal,
abstract principles of entrepreneurship=97most of which can be found
in
the classics=97with cutting edge, living examples. RETURN WITH THE
ELIXIR Again, the field of entrepreneurship serves the typical liberal
arts students first and foremost, as it calls on them to contemplate
the eternal precepts and wisdom of the classics they are reading; and
it brings the ideals to life by having them apply them to real-world
scenarios in the form of their living ventures. So it is that their
projects become the primary case studies, and suddenly =93textbook=94
case
studies come to life with more pertinent meaning. Entrepreneurship
calls upon the student to take ownership in their ideas and their
future, and it teaches that to lead is to serve=97that the best way to
get rich is to create wealth. AE&T comes to life in the classroom, and
developing the curriculum is akin to asking, =93What eternal
principles,
books, and resources can form a lasting syllabus and course of study?
=94
It's about respecting those things that never change, and once arming
students with those ideals, telling them that they've got to respect
that the state of life and business is constant change, and then
encouraging them to go forth and capitalize on that change, as they
take the responsibility of manifesting the eternal ideals in maverick
manners on their very own Hero's Journeys. The greater risk is not in
following dreams and ideals, but forgetting them. Too often the
liberal arts are viewed as a useless pursuit, and a Great Books
education is thus replaced by business and marketing classes that
offer but =93cliffsnotes=94 versions of the fundamental principles by
which all business and art last. To often entrepreneurship is viewed
as the art of exploitation=97MBAs marching into companies and exiting
with the pensions and investments of the duped workers and
stockholders
=97and humanities students are rightly discouraged from walking over
to
the business school, for in the wake of all the corporate scandals,
what business school has ever passed judgment or apologized? Sure,
they offer a class on =93ethics=94 here and there, but does that apply
that accounting can be done without ethics? Sadly enough, accounting
without ethics has time and again proven to be far more profitable to
the short-term investors and insiders who do not get caught=97and all
too often to those that do. So it is that they earn a reputation that
the main requirement is not a pursuit of the truth=97the classic
calling
of the vast majority of students=97but a tacit circumvention of it.
And
the students they attract further reinforce the atmosphere. How ironic
it is that in this era of celebrated and revered business books such
as Built to Last, nothing lasts. The family, like the pension and
postmodern politician=92s promise, are as ephemeral as the modern
movies
Hollywood produces and hypes, which less and less people are seeing.
To build meaningful ventures that truly last, the moral precept must
be returned to the center and circumference of every institution. This
is the role of rugged entrepreneurs. And vast opportunities exist for
those bold enough to lead the renaissance that places the higher
ideals above the bottom line. Tying entrepreneurship to classical myth
is a lot of fun, and if the students don't quite know who Richard
Branson or John Bogle is yet, if Joseph Campbell seems a bit esoteric,
they know Frodo and Neo and Luke Skywalker=97a farm boy who felt there
was something more out there=97who heard that call to adventure and
went
on to save the universe. If they=92ve not yet heard of Randall
Wallace,
the author of Braveheart, they yet know William Wallace, who lived a
parallel journey. And the class reminds them that life is a great
adventure to be lived with a brave heart and a free spirit. During the
most recent class the students discussed how they're watching movies
and reading books differently=97how they're extracting the eternal
principles=97the classic call to adventure, the meeting with the
mentor,
the road of trials, tests, allies, and enemies, the showdown/ordeal,
and the return on home. And how they=92re growing to see the act of
following moral precepts are why the very same plot points appear in
Steve Job's and Branson's careers. In reading both The Odyssey and The
Battle for The Soul of Capitalism, they see that it was simple moral
precepts that guided Odysseus on home, and which inspired John Bogle
to found Vanguard based on higher ideals that countered Wall Street's
wisdom=97the higher ideals he had felt as a senior at Princeton=97that
paying people to manage money was by and large a waste for the
investor. Regarding Vanguard, Bogle writes, The first invention took
place only months after we began, when a simple thought, indeed one
that had first occurred to me when I wrote my senior thesis at
Princeton University in 1949-51, began nagging at my mind. If mutual
funds as a group fail to deliver stock market returns by the amount of
their heavy costs, why not own the entire market at the minimal cost
we were prepared to deliver? Then, investors could capture almost 100%
of that annual return, rather than the 70%-80% fraction that would
likely be achieved by our peers. This banally obvious insight quickly
led to the simple invention that has been the most powerful
manifestation of Vanguard's philosophy=97the first index mutual fund
in
history. Today, "Bogle's Folly"=97now Vanguard 500 Index Fund=97is the
largest mutual fund in the world. Bogle was a common worker on Wall
Street for twenty years, just like Neo in The Matrix, before he
finally launched Vanguard; to follow that ideal that he alone saw,
that nobody could ever convince him wasn=92t real=97that fundamental
moral
premise that the risk takers ought to reap the rewards of their
investments. Bogle was lost his job on Wall Street during the
seventies recession; forcing him to finally follow the youthful
idealism of his thesis and found Vanguard, just as Randall Wallace was
fired from his job in TV before being =93forced=94 to write his very
first
feature film=97Braveheart. So it is that failure and setbacks are
contextualized=97they become steps along a greater journey, where one
trades ones job for one=92s higher ideals; which although they pay
nothing today, are infinitely better long-term investments. I recently
heard Randall Wallace speak, and he said, =93I had never written a
feature-length screenplay before. But I decided that I would go down
swinging. I was going to write what I wanted to write, and if
Hollywood decided it wasn=92t good enough, that was how I was going to
go out=97swinging.=94 And Braveheart, as you know, won numerous
Academy
Awards, including best picture and best director. Wallace was
nominated for an Academy Award. So there it is=97in the personal
journeys of Bogle and Wallace=97they lived epic myths centered about a
moral premise, and created enduring ventures in their wake. One might
call them risk-takers, but look closer, and each knew that the bigger
risk was in forgoing one=92s moral premise to merely =93go with the
flow.=
=94
So it is that entrepreneurial risk has nothing to do with the roulette
wheel that Wall street has become=97it has nothing to do with MBAs
risking pensions in hedge funds=97but risk has everything to do with
the
lone individual following higher ideals=97providing true leadership in
going against the establishment; and creating lasting wealth for all.
Wallace had lost his job in TV after telling his boss that Hollywood
could do better=97that Hollywood could aim higher and voyage deeper.
The
producer had said, =93If we tried for anything deeper, the backwoods
folks in Nebraska wouldn=92t get it.=94 To which Wallace said, =93I am
from
the backwoods folks from Tennessee, and not only would they get it,
but they would love it. And it is our duty to give it to them.=94 And
that very same exchange became the moral premise of Braveheart,
There's a difference between us. You think the people of this land
exist to provide you with position. I think your position exists to
provide those people with freedom. And I go to make sure that they
have it. =96William Wallace in Braveheart, by Randall Wallace And too,
it is the moral premise of Vanguard: Just as my book points out,
mutual funds are the paradigm of the triumph of managers' capitalism
over owners' capitalism. Yet the winning strategy ultimately is held
by the firm that provides a community advantage that serves
shareholders and owners, simply by taking the lion's share of those
oppressive costs out of the investment equation. It is hard to imagine
that Dr. Franklin, reborn in our age, wouldn't have sought to serve,
not himself, but the community in exactly the same way. =96John Bogle,
Capitalism, Entrepreneurship, and Investing=97The 18th Century vs. the
21st Century, Founder and Former Chairman, The Vanguard Group At the
Greater Philadelphia Venture Group January 25, 2006 And too, it is the
moral premise of Joseph Campbell=92s life and works=97of the Hero=92s
Journey: Man should not be in the service of society, society should
be in the service of man. When man is in the service of society, you
have a monster state, and that's what is threatening the world at this
minute. =96Joseph Campbell, author of Hero With a Thousand Faces And
when students hear these epic stories, courage is gained=97the courage
to fail for the moment, or get fired=97but only because one is
adhering
to higher principles while dreaming of an exalted goal=97of freedom as
it was meant to be. The courage to believe in and follow Jefferson=92s
eloquent words, =93We hold these truths to be self-evident, that all
men
are created equal, that they are endowed by their Creator with certain
unalienable rights, that among these are life, liberty and the pursuit
of happiness.=94 The courage to build those better ventures based on
those higher ideals. Such courage will be needed to lead a
renaissance; and I see that courage in each and every student I meet.
May the Academy embrace it, and never stand in its way.

Introduction to The Hero=92s Journey: Tales of Entrepreneurial Faculty
Posted: April 12, 2006 3:57 PM CDT
Topic/Type:
Author: Megan Storm

I have had almost a month to reflect on our Kauffman Artistic
Entrepreneurship and Technology Brainstorm in Austin, and I would like
to pick up where Desiree left off in her previous post with
entrepreneurial faculty. Let me first admit my bias: I LOVE teachers.
You know which teachers I'm talking about: the dedicated, passionate
teachers who shape, nurture, and inspire the students of today. I'm
talking about the teachers who are smart. The teachers who are savvy.
The teachers who make things happen.

It's these teachers who alter the course of our lives directly (by
connections, letters of recommendation, and academic advising) and
indirectly (by their knowledge, questions, and kindness). I have been
shaped by so many good teachers that I cannot fathom who I would be
without their care and guidance.

As an aside, I'm actually less worried about entrepreneurial students.
Yes, students are important, but many students (myself included) are
usually ornery and curious enough to naturally gravitate toward
entrepreneurial opportunities. Call it the constructive rebellion of
youth. The entrepreneurial faculty are the true heroes because while
they are investing enormous energy into their students and research,
they must battle a system that creaks and groans with their every
move. The workload can become overwhelming, especially when it is
wasted in bureaucracy. Students graduate and move on. The
entrepreneurial faculty must hang in there if they want to keep
reaching students.

But never fear! Our heroes march on!

In that spirit, I thought it would be fun to interweave findings and
comments from our Austin meeting into the same monomyth structure
(otherwise known as the Hero's Journey) that Elliot McGucken uses for
his Artistic Entrepreneurship and Technology class. As we travel,
comments are always welcome.

Adventure calls! Stay tuned...

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Thursday, March 30, 2006
Arts, Technology and Entrepreneurship
Posted: March 30, 2006 5:11 PM CDT
Topic/Type: Faculty perspective; New entrepreneurship courses
Author: Desiree Vargas

On March 13, a group of us from the Foundation headed down to the
South by Southwest Interactive Media Festival in Austin, Texas to host
a mini-workshop about Arts, Technology and Entrepreneurship.

One of the main reasons we decided to host the meeting was that Megan
Storm, an intern in our Advancing Innovation department, fell in love,
like the rest of us, with Elliot McGucken's approach to teaching arts
entrepreneurship. We went down not knowing what to expect. Partially
we hoped Elliot's class would inspire some of the other professors to
teach students about the varied forms of wealth and the value that
artists bring to existing industries--basically break down the
dichotomy of the starving artist and the international sell-out.

After several hours of the 25 attendees sharing what they have been
working on in the field of arts entrepreneurship, Megan broke us up
into groups to brainstorm what an ideal arts entrepreneurship program
would include. While we may not have designed a concrete framework for
the curriculum, we learned a lot about the power of bringing together
faculty under a common theme for a directed discussion.

The group was an eclectic mix of engineers, physicists, filmmakers,
screenwriters, gallery librarians, musicology students, business
school faculty, you name it. I'm not sure if they came because the
topic inspired some of them or if they were sent as spies by the
powers that be on their campuses. Either way, it made for a wonderful
group. The unanimous echo at the cocktail hour after the meeting (Saba
Blue Water Cafe on 4th St. really hooked us up, by the way), was that
one of the greatest take-aways from the meeting was the connections
people were able to make thanks to the open dialogue the meeting
encouraged. We hope that these connections will lead to collaborations
between universities across disciplines.

For Kauffman, the greatest take-away was reaffirming what we already
knew to be true--that entrepreneurship education can thrive in any
environment. It just has to be encouraged on multiple levels through
multiple media. We've often thought that if we could get a few
evangelists from disciplines besides business to present at
conferences of their professional associations then our message would
eventually be spread, grassroots style, and then percolate up (or down
depending on whether you're using an old espresso pot or standard drip
pot metaphor) down to the students and up to the university
administrators--much like entrepreneurship has done in the engineering
fields. (See Stanford's Roundtable on Entrepreneurship Education for a
wonderful example)

I think this conference opened our eyes both to how much work is left
to be done, but also, how much faculty have already accomplished
without the encouragement of university administrators. Often faculty
express gratitude for the Kauffman Campuses grants because it gives
them some additional funding to create or pursue an interest they had
had for a while. The gratifying part for us is that the faculty
members don't need the encouragement of the administration to think up
entrepreneurial courses in the first place. They do, however, need
administrators' support to take the professional risks to pursue a
passion. They need the resources, which in some cases just means
permission to focus some of their time on their own interests.
Basically, they need Angel investors for their intellectual
entrepreneurship.

Now more than ever, we realize that the better part of our efforts in
entrepreneurship education has to be put towards awakening the
entrepreneurial spirit of our faculty just as much, if not more, than
awakening that spirit in our students. The faculty are the ones that
last on a campus beyond the terms of deans, provosts, or presidents.
They set the tone for the campus. They mobilize the students. They
open the doors to industry.

So, my take-away from all of this? Create an environment that lets
faculty grow and push their limits. Nurture their creative energies,
and they will have no choice but to pass those lessons on to their
students.

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Friday, March 10, 2006

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

More Required Reading: Mark Cuban=92s Blog
Posted: Jan 15, 2007 4:59 PM CDT
Topic/Type:
Author: Elliot McGucken
Mark Cuban provides a rare voice in today's "ironic" business
settings. Whenever and wherever "group think" and the "wisdom of
crouds" arise to save us from lone innovators and entrepreneurs, Mark
steps forth to remind us that logic, rugged independence, service, and
hard work are yet the true founts of enduring wealth.

Cuban provides a rare voice in today's "ironic" business settings--he
shoots from the hip and tells it like it is. And he gets it right--
Digital Rights Management is important for the innovator--from the
lone documentarian to the major studio.

And thus, like Homer's Odyssey and John Bogle's Battle for The Soul of
Capitalism, Cuban's blog is required reading in my AE&T class.

Both Cuban and Bogle call the Wall Street bluff in their works, and
Cuban gives great advice on investing: your best investment is
yourself--your pasions and dreams.

MARK CUBAN ON WALL STREET/INVESTING:

"So what to do if you want to invest your money? What to do if you
want to end this year with more than you started with?

Simple, avoid risk.

Risk is what Wall Street lies about every day. Risk is what they try
to sweep under the covers knowing that we all are addicted to the
dream of financial freedom. Risk is the poison that is masked by the
commercials.

When you see a commercial for a brokerage, they are telling you in a
very subtle way that they remove risk. Invest with them and the risks
regarding investing that you have heard about will be reduced or
eliminated because they are so smart. All of which they say before
they rush through all the disclaimers that confirm that everything
they just said is nonsense, that they cant really avoid risk.' " --
Mark Cuban

And here is some invaluable advice that forms the center and
circumference of AE&T:

"3. Invest in yourself. Do the things that can get you closer to your
goals and dreams. It won't come from a brokerage commercial. It will
come from preparing yourself, working hard, and standing apart from
your competition. You Inc. is the best stock you can ever buy... if
you are willing to do the work." --Mark Cuban

When you buy a stock, or sock money away in bank, you are generally
giving someone else your capital to follow their dreams. Do you
really think that their dreams are more important, better, and more
worthy of fulfillment than yours?

And all too often these days, when you buy a stock or invest in a
mutual fund, you are funding scandals and deceit--you're funding Wall
Street marketing schemes that never tell of that simple reality--Wall
Street is a negative-sum game. In every transaction, there is a
buyer, a seller, and an intermediary who gets a cut. Thus Wall Street
loves the daily churn, as that's how the house makes its money. There
is one underlying theme in all their machinations--they transfer the
wealth to themselves and the risk to you.

John Bogle, the founder of the $700 billion Vanguard Fund and the
classic Wall Street innovator wrote,

"That=92s the substance of The Battle, so now for a little background.
As I mentioned at the outset of my remarks this evening, many of the
ideas in my book are consistent with the ideas of some of our best and
brightest economic thinkers. My central criticism about investment
management, for example, is that a huge portion of the $400 billion
that our financial system consumes each year is a dead-weight drag on
the returns earned by investors as a group. After all, when we deduct
from the gross returns produced in the stock market, the costs that we
pay to our investment intermediaries, we investors actually receive
only what remains. We investors dine, in fact, at the bottom of the
financial food chain. It=92s pretty simple, and it=92s
incontrovertible."

Cuban provides the wisest of all advice--call the bluff, and invest in
your own ventures and dreams.

Warren Buffett gives us practially the same advice--invest in those
businesses that you yourself can understand. And since we'll never
know anyone else's business better than our own, entrepreneurship is
the best investment one can make.

Your artistic and entrepreneurial endeavors are superior to the Wall
Street Casino--which Bogle, Buffett, and Cuban all lament, as does
Lord Keynes.

In his classic The Wall Street Casino, Bogle writes, "Today's stock
trading frenzy ill serves the investor. It brings to mind Lord
Keynes's warning that ''when the capital development of a country
becomes a byproduct of the activities of a casino, the job is likely
to be ill-done.'' Investors who stay out of the casino and hold stocks
for the long term stand the best chance that their own job of capital
accumulation will be well done."

Warren Buffett says, "Risk comes from not knowing what you're doing,"
and sending your money off to some mutual fund who invests it goodness
knows what, and takes a cut, and commissions, and fees, and pays taxes
on the churn, constitutes "not knowing what your're doing."

Cuban writes, "If you play poker, you are playing against the other
players, and the house only takes its commission. Just like your
broker takes its commission. Unlike the stockmarket, you know the
rules exactly. You know without question, the house is going to play
by the rules. The gaming commission appears to actually enforce rules
of play, unlike the SEC. And then there are sports bets. Like any
other investment or bet, the question always come down to whether
there is good information available, who knows how to use it better,
and who is the competition and are they smart or not. Honestly, I
don't know if the best and brightest go to Wall Street or Vegas. I
don't know the number of gamblers via sports books in vegas vs the the
number of gamblers, I mean investors, in the stockmarket."
For while Wall Street is a zero or negative-sum game, your passions
and dreams are capable of vast returns. Starting with little or
nothing, you can create a lasting work of art--a song, a symphony, a
film, a book--something with eteral life--or a humble venture that
actually serves customers with a useful product.

Why send your hard-earned money to distant MBAs so they can play
negative-sum games trading stocks of suspect companies that are making
up the accounting rulse as they go along, all the while placing the
lion's share of the risk on you, while granting themselves the lion's
share of the rewards?

Also, Cuban echoes the underlying premise of Arts Entreprenuership &
Technology--as your passions and dreams are yoru most valuable assets,
sweat equity is the most valuable equity there is:

MARK CUBAN ON BOOTSTRAPPING: Rule #1: Sweat Equity is the best start
up capital.
"The best businesses in recent entrepreneurial history are those that
have been started with little or no money. Dell Computer, MicroSoft,
Apple, HP and tens of thousands of others started in dorm rooms, tiny
offices or garages. There weren't 100 page long business plans. In all
of my businesses, I started by putting together spreadsheets of my
expenses, which allowed me to calculate how much revenue I needed to
break even and keep the lights on in my office and my apartment. I
wrote overviews of what I was selling, why I thought the business made
sense, an overview of my competition and why my product and/or service
would be important to my customers, and why they should buy or use it.
All of it on a piece of yellow paper or in a word processing file, and
none of it cost me more than the diet soda I was drinking while I was
writing it up." --Mark Cuban

MARK CUBAN ON THE FUTURE OF HOLLYWOOD: Coming soon . . .

MARK CUBAN ON DIGITAL RIGHTS MANAGEMENT: "Property owners have every
right to do whatever they think is necessary to protect their
property. Homeowners can build walls and add security. Content owners
can add copy protection schemes to their digital content.
Unfortunately for content owners, digital rights/copy protection
schemes have always proven crackable. No matter how smart the good
guys think their programmers are, the bad guys have programmers that
are just as smart. More importantly, the good guys have to build the
perfect protection scheme, impenatrable by any of infinite number of
possible attacks. The bad guys only have to find out where the good
guys screwed up. Its a lot easier to be the bad guys and crack the
copy protection. Which is exactly why every effort to fully protect
digital content has failed."

So check Mark's blog out.

Permalink | Email This |
Comments:

Nice Post! I felt it was very informative, Wall Street seems very
messed up these days.
Posted by stock trading on 10/11 at 05:59 PM

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I have read many article regarding to this topic and done lots of
research for the same. but here i get something new.thanks for
sharing.
Posted by MBA Colleges on 10/27 at 08:53 AM

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mark cuban gives some great info, start a company with little cost
Posted by humble apartments on 10/28 at 02:11 PM

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Page 2 of 2 pages < 1 2

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

Artistic Entrepreneurship & Technology as an Academic Discipline
Posted: Jun 01, 2008 9:19 PM CDT
Topic/Type:
Author: Elliot McGucken

Artistic Entrepreneurship & Technology as an Academic Discipline

artsentrepreneurship.com herosjourneyentrepreneurship.org

by Dr. Elliot McGucken

Universities, founded as entrepreneurial institutions that would help
create the new, no longer are. Bureaucracy has set in. Universities
have forgotten, or, worse, repudiated the entrepreneurial imperative
that created the fortunes that allowed their benefactors to start them
in the first place. =96The Entrepreneurial Imperative, by Carl J.
Schramm

If we are to go forward, we must go back and rediscover those precious
values - that all reality hinges on moral foundations and that all
reality has spiritual control. =96Martin Luther King Jr.

For better or worse, my youthful idealism=97the belief that any truly
sound business endeavor must be built on a strong moral foundation=97
still remains today, at least as strong a it was all those years ago.
--John C. Bogle, Founder of The Vanguard Group

Artistic Entrepreneurship & Technology seeks to serve students,
artists, and entrepreneurs with the tools to make their passions their
professions=97to protect and profit from their ideas=97to take
ownership
in their creations and careers. For Adam Smith's invisible hand
enriches all when happiness is pursued by artists and innovators=97
society's natural founts of wealth. Jefferson eloquently expressed
the entrepreneurial premise:

We hold these truths to be self-evident, that all men are created
equal, that they are endowed by their Creator with certain inalienable
rights, that among these are life, liberty and the pursuit of
happiness. =96The Declaration of Independence

The only clause in the main body of the United States Constitution
that mentions "Rights" states the following:

The Congress shall have power to . . . promote the progress of science
and useful arts, by securing for limited times to authors and
inventors the exclusive right to their respective writings and
discoveries; --The United States Constitution

Couple these two passages together, and one has the moral premise of
Artistic Entrepreneurship & Technology. Every student ought be given
the tools to create new ventures--to protect their intellectual
property, and to pursue and profit from their dreams on their "Hero's
Journey" into entrepreneurship. For it is along that journey that the
long-term "wealth of nations" is generated.

Entrepreneurship has aspects of art--creation and the pursuit of
higher aesthetics; and science--economics, finance, engineering, and
physical invention. How these aspects, and many more--from
intellectual property to corporate structures--combine to generate
wealth, are part of an Epic Story that is told whenever an individual
sets out to render their ideals and dreams real. Thus a most efficient
way to study entrepreneurship--to unite its diverse aspects--is via
Joseph Campbell's Hero's Journey.

"The (AE&T) class is the first of its kind to incorporate art,
technology and business." =96Chapel Hill Herald, May 2006

As a new cornerstone in a classical liberal arts education, Artistic
Entrepreneurship is for those seeking to make their passions their
professions. This festival is dedicated to all those embarking on the
"Hero's Journey" to create enduring wealth, be it a new venture, video
game, indie film, record label, book, DRM system serving artists and
musicians, or course.

The Artistic Entrepreneurship & Technology program aims to create
lasting resources serving students and professors with curriculums
devoted to entrepreneurship. By marrying the study of
entrepreneurship and pursuit of entrepreneurial visions to the
=93hero=92s
journey,=94 both a lasting skeleton and soul is given to the academic
field of entrepreneurship.

By focusing on the unchanging precepts and common laws that
entrepreneurship across all disciplines has in common, AE&T seeks to
create an academic discipline rooted in higher principles, and brought
to life each and every semester on the cutting edge of innovation
found within the students=92 projects.

All students encounter Joseph Campbell=92s Hero With a Thousand Faces,
The Odyssey, and John Bogle=92s Battle for The Soul of Capitalism on
the
first day of class. Right there the class reaches out across all
disciplines and across thousands of years, exalting the students by
reminding them that they are part of a great story=97an epic that they
get to write. And by taking ownership in one=92s life, in one=92s
destiny while seeking to serve both higher ideals and one=92s peers,
so
often it is that wealth is created=97both monetary and spiritual.

The various stages outlined in Joseph Campbell=92s Hero=92s Journey
make
an ideal backbone for a semester=92s syllabus devoted to
entrepreneurship, and The Hero With a Thousand Faces makes an ideal
companion, guide, and mentor for the rest of the students=92 lives.
Arts entrepreneurship sees the classical liberal arts as a most useful
tool, and it invites all students to partake in the fellowship of the
living story.

Serving Student Demand

Students long for a cross-disciplinary field of study that
leapfrogs over the bureaucracy that all too often marks ever-narrowing
academic fields, where semblance replaces soul, formalities are
substituted for deeper meanings, and the letter of the law is held
superior to the spirit of the law. Artistic Entrepreneurship &
Technology unites the formerly disparate academic fields of business,
law, art, and technology in a living, breathing class, endowing the
subject matter with a spirit and soul, and granting entrepreneurship
and enduring mythology. For we are born to live out stories=97not to
serve bureaucracies as academia all too often focuses upon
teaching.

A vast demand exists for the classical ideals performed in the
contemporary context=97for honor, integrity, courage, and
committment=97on
Wall Street and Main Street, in Hollywood and the Heartland, in
Academia and Government. And thus opportunity abounds for
entrepreneurs who keep the higher ideals above the bottom line=97for
humble heroes in all walks of life.

Artistic Entrepreneurship & Technology aims to be a most useful field
of study for students, teachers, and anyone starting or launching a
venture related to any field of study. The same classical values
guiding the rising artistic renaissance will protect the artists'
intellectual property. The immortal ideals which guide the story of
blockbuster books and movies such as The Matrix, Lord of the Rings,
Braveheart, The Chronicles of Narnia, and Star Wars, are the very same
ideals underlying the United States Constitution. These classic
ideals--which pervade Homer, Plato, Shakespeare, and the Bible--are
the source of both epic story and property rights, of law and
business, of academia and civilization.

It is great to witness classical ideals performed in Middle Earth,
upon the Scottish Highlands, long ago, in a galaxy far, far, away, and
in Narnia, but too, such ideals must be perpetually performed in the
contemporary context and living language.

The digital media revolution has collapsed the distance between art,
business, law, and media technology programs, and students are longing
for those general permanent principles found within the pages of the
Great Books. In many ways, an AE&T program founded upon the classics,
would become a flagship in reviving the lost art of the liberal arts
education.

Throughout the greater culture, there exists a longing for
contemporary heroes and heroines in literature reflecting those brave
men and women wearing uniforms in real life--there exists a longing
for epic stories in our books, movies, and video games, and for
digital rights management software and systems based on the Founding
Fathers' idealism. And thus there exist vast opportunities for rugged
artistic entrepreneurs to lead renaissances on all fronts.

For a time many have been tempted to forget classical ideals, valuing
short-term profits over long-term wealth, exalting the bottom line
over the higher ideals; but the nascent brilliance of the
technological revolutions can only achieve its fuller potential via
Story. While many will suggest that the best solution to digital
rights management is to remove story from movies--as Hollywood has
dedicated itself to as of late--thusly removing incentive to pirate
them, I counter that classical ideals can enhance both the
storytelling within movies and the DRM that protects them.

Just as the Founding Fathers complimented property rights by providing
everyone with the right to bear arms, a novel software system that
provides all creators with a turnkey choice from a full spectrum of
digital rights management would foster a renaissance in the creation
and distribution of intellectual property and art. The name of this
software is the 45 Revolver, and the killer app could lead next-
generation social networks and content portals that would benefit
Hollywood.from the indie filmmakers to the major studios. Let's build
it. Let's build tomorrow's ecommerce portals=97tomorrow's books,
movies,
video games, and culture=97upon classical ideals.

That distant wave has been a long time coming, and the new fashions
will be about performing the classical ideals in the contemporary
context. The rising generation will lead a renaissance in
storytelling; a renaissance in the composition, production, and
distribution of art=97a renaissance in business, culture, and
civilization=97in academia and entrepreneurship. For that is the
artistic entrepreneur's duty.

John Bogle, who founded Vanguard=97the world's largest and most-
trusted
mutual fund=97upon the idealism of his senior thesis at Princeton
University, writes:

Let's begin with Franklin's entrepreneurship. It was not only
remarkable for his era; it was remarkable for any era. While in
today's grandiose era of capitalism the word "entrepreneur" has come
to be commonly associated with those who are motivated to create new
enterprises largely by the desire for personal wealth or even greed,
the fact is that entrepreneur simply means "one who undertakes an
enterprise," a person who founds and directs an
organization. But at its best, entrepreneurship entails
something far more important than mere money. Please do not take my
word for it. Heed the words of the great Joseph Schumpeter, the first
economist to recognize entrepreneurship as the vital force that drives
economic growth. In his Theory of Economic Development, written nearly
a century ago, Schumpeter dismissed material and monetary gain as the
prime mover of the entrepreneur, finding motivations like these to be
far more powerful: (1) "The joy of creating, of getting things done,
of simply exercising one's energy and ingenuity," and (2) "The will to
conquer: the impulse to fight, . . . to succeed for the sake, not of
the fruits of success, but of success itself. =96John C. Bogle,
Capitalism, Entrepreneurship, and Investing. The 18th Century vs. the
21st Century Remarks by John C. Bogle Founder and Former Chairman, The
Vanguard Group

The Small Liberal Arts University as a Major Research Institution

Dr. Elliot McGucken=92s AE&T Research/Books/Patents

=93Our business schools have the chance to take the lead in shaping
the
future. But they will need to change radically to do so.=94 =96Carl
J.
Schramm, The Entrepreneurial Imperative

Not only has the digital revolution empowered the individual and small
business, but it has also empowered small universities and classical
liberal arts institutions. No longer are multi-million-dollar labs
and vast buildings needed to foster innovation and encourage student
entrepreneurship, but simple access to digital tools and the web can
provide students with a solid entrepreneurial foundation. Thus Dr.
E=92s class was able to build wikientrepreneur.org using the same
software that powers the world=92s largest encyclopedia=97wikimedia.

This past year, as he honed his AE&T book due out in 2007, Dr. Elliot
McGucken filed one provisional and three final patent applications=97
three for rights management systems for artists and creators. Here
are the final applications=92 titles and abstracts:

SYSTEM AND METHOD FOR CONTENT MARKETPLACE, DRM MARKETPLACE,
DISTRIBUTION MARKETPLACE, AND SEARCH ENGINE: THE DODGE CITY
MARKETPLACE AND SEARCH ENGINE

The present invention offers novel and superior means for creating a
content marketplace. The present invention allows technology
companies to compete to meet and serve the creators=92 rights. Just
as
reverse auction systems allow consumers to name their price, with
service providers competing to meet the price, the present invention
allows artists, creators, and content owners to define their rights,
whereupon content aggregators, record labels, social networks, DRM
providers, device manufacturers, search engines, and others compete to
bets meet the creators=92 needs. This innovation reflects the fact
while technology companies are commodities, and thus artists ought
declare their independence, and ascend to their natural place in the
universe=97those who take the risks and create the wealth on their
Heroes=92 Journeys ought reap the rewards. The Dodge City
Marketplace
will lead to greater revenue and rights for artists, superior search
engines, distribution, and art, and trusted standards for DRM.

22NETS: METHOD, SYSTEM, AND APPARATUS FOR BUILDING CONTENT AND TALENT
MARKETPLACES AND ARCHIVES BASED ON A SOCIAL NETWORK

The novel social network described herein allows those
who create and upload content, as well as those who aggregate content
and build the network, to profit in novel manners. A method and
system allows users, who create content archives and marketplaces in
which individuals and content in the database are connected by
mutually defined relationships determined by the content creators/
owners, uploaders, aggregators, and/or viewers of said content, to
better profit from the networks they build. Higher-quality archives
and marketplaces result. A tiered commission system, proportional to
the degrees of separation in the network, provides a revenue share for
creators and viewers who participate in and create content and/or
marketplaces. Information inherent within the nodes is mined so as to
afford a tiered revenue-sharing system. An improved method of content
distribution empowering creators of content and participants is
disclosed herein, along with a superior social network.

SYSTEM AND METHOD FOR ALLOWING CREATORS, ARTSISTS, AND OWNERS TO
PROTECT AND PROFIT FROM CONTENT: THE 45 REVOLVER

The present invention offers novel and superior means for protecting
and profiting from digital content. The rights-centric, creator-
centric digital rights management application will lead to greater
revenue and rights for artists, and a new era of creator's
entrepreneurship, as opposed to the dominant aggregator's
entrepreneurship. The present invention offers a simple interface
for creators, artists, users, and owners to define rights, select from
a plurality of DRM options, advertising options, watermarking options,
thumbnailing options, syndication options, and publish, share, sell,
and distribute their content in a plurality of manners. This
invention has far-ranging ramifications, as it causes DRM providers,
device manufacturers, web companies, social networks, and content
marketplaces to more directly compete with one-another to provide the
creator and content owner the best compensation for their work.
Creators can bypass the traditional and new middlemen, define their
rights, sell their content, and enhance profits.

MORALITY SYSTEM AND METHOD FOR VIDEO GAME: SYSTEM AND METHOD FOR
CREATING STORY, DEEPER MEANING AND EMOTIONS, ENHANCED CHARACTERS AND
AI, AND DRAMATIC ART IN VIDEO GAMES

This present invention pertains to introducing morality and epic
storytelling into the realm of video games, resulting in video games
with superior, deeper game play, expanded markets, and longer-lasting
brands. The ability to render deeper emotion, story, and exalted
dramatic arts within the realm of video games has been a long sought-
after =93holy grail=94 throughout the video game industry. The prior
art
demonstrates how others have failed and are failing to deliver more
meaningful and engaging games endowed with epic storytelling. This
present invention provides the missing key to realizing epic
storytelling, deeper emotional involvement, and higher art in video
games.

Teaching and research are inseparable, and the patent topics, the
process of patenting, and the basics of intellectual property are all
brought forth in the living context of the classroom. When Dr. E
worked on an artificial retina for the blind, it continually aided in
physics class=97as a practical application, it was an inspirational
tool
to inspire the students to learn something. And now, the research in
patents in video games, social networks, and digital rights management
are continually incorporated in the AE&T class.

The beauty of Einstein=92s research was that its end results could
always be communicated in simple equations and geometrical pictures.
The beauty of the Declaration of Independence and Constitution is that
they may be readily understood, and read in their entirety in a few
hours. Too much modern academia as sacrificed clarity for pretended
profundity, for what Nietzsche described as =93muddying my waters so
as
to appear deeper.=94

As entrepreneurship is rooted in providing useful, tangible results,
it continually exhorts education to teach practical, useful entities;
and it encourages professors to join the students in every class as
everyone vigorously pursues their ventures. The humble Hero=92s
Journey
unites us all, but just as the Knights of The Round Table, each must
find their own unique path through the forest.

The most eloquent expressions of entrepreneurship=92s precepts=97of
the
ubiquitous Hero=92s Journey that cuts across all cultures and all
time=97
are the Great Books and Classics=97from The Odyssey on down. So it is
that a classical liberal arts education is a most useful entity, as
John C. Bogle, the creator of the world=92s largest mutual fund,
demonstrated.

The proper role of intellectual property transfer departments should
be to give inventors and innovators the tools to protect and profit
from their creations. AE&T=92s spirit sees creation as the magical
act,
and the creator as the rightful, natural, and primary owner; and thus
it become the MBA=92s and JD=92s duty to serve the innovator=97not to
take
the innovator=92s private property, but to communicate the tools
necessary to take the innovation to market. AE&T aims to dispel the
myth that it is one type of person suited to creating and another type
of person suited to owning, by giving all students the fundamental
tools to protect and profit from their creations=97to embark on their
very own hero=92s journeys.

AE&T supports an IP transfer protocol modeled off of Stanford=92s
=93hands
off=94 approach to technology transfer. The duty of IP departments
ought to be to serve the inventor and creator with the knowledge they
need to protect and profit from their invention. When the creator
benefits, they are inspired to keep on creating; and thus it is
important to address the rights and interests of innovators and
inventors, for they are society=92s natural founts of wealth.

And so it is that Artistic Entrepreneurship & Technology seeks to give
students, artists, and entrepreneurs the tools to make their passions
their professions=97to protect and profit from their ideas=97to take
ownership in their careers and creations. For Adam Smith's invisible
hand enriches all when happiness is pursued by artists and
innovators=97
society's natural founts of wealth.

Artistic Entrepreneurship & Technology in the Press

Business Week Online reported

Where Entrepreneurship Connects to the Classics

Elliot McGucken, a professor of entrepreneurship at Pepperdine
University, bemoans that "a lot of schools have dismissed the idea of
teaching the great books." In a recent lecture at Pepperdine, McGucken
points out that that one lesson of the classics is, "Chance favors the
prepared mind.. Instead of viewing risk as a bad thing, we can also
view it as a good thing." The classics inspired America's
Declaration of Independence, which McGucken sees as an entrepreneurial
document. Life has a way of "calling us to adventure," he concludes.
Though many entrepreneurs launch businesses based on some "whimsical
occurrence," it's their educational and life backgrounds that enable
them to recognize the opportunity. Thus, John Bogle was able to found
Vanguard based on a business-magazine article, while actually pursuing
a "higher ideal" associated with making stock ownership available to
large numbers of people. See this blog for more information and a
related video. --BusinessWeek Online
http://www.businessweek.com/smallbiz/content/mar2007/sb20070305_370422.htm?=
chan=3Dsmallbiz_smallbiz+index+page_getting+started

From Beethoven to Bob Dylan

"Every artist is an entrepreneur." So argues Dr. Elliot McGucken, a
visiting professor at Pepperdine University, in an online video
introduction to his course, Art Entrepreneurship & Technology 101,
which has the professor lecturing from the shore of a small lake.
Among his suggestions for artists who want to be more entrepreneurial:
launch a blog (see BusinessWeek.com, 5/18/06, "The ABCs of Beginning
Your Blog", prepare a one-minute presentation on "your mission," write
a 20-page business plan, and be prepared to work for a long time "for
free." For information on courses in entrepreneurship geared toward
artists, take a look at http://www.ae2n.net. It's still in its
formative stages but eventually will feature reading lists and course
evaluations. =96BusinessWeek Online
http://www.businessweek.com/smallbiz/content/oct2006/sb20061002_056758.htm?=
chan=3Dsmallbiz_smallbiz+index+page_getting+started

Former investment CEO discusses moral capitalism

JAIMIE FRANKLIN

Assistant News Editor

http://graphic.pepperdine.edu/news/2007/2007-03-01-bogle.htm

Pepperdine welcomed investment giant John C. Bogle to campus Tuesday
evening as the keynote speaker for National Entrepreneurship Week USA.
Bogle spoke on how businesses have abandoned true ethics and the
importance of classical values and a liberal education in the
today=92s
world and attested to his humble beginnings and how they shaped his
life to come.

As founder and former CEO of the Vanguard Group, the second largest
mutual fund company in the world, Bogle was recognized as one of the
world=92s 100 most powerful and influential people by TIME Magazine in
2004. He was also hailed as one of the investment industry=92s four
=93Giants of the 20th Century=94 by Fortune magazine in 1999.

Dr. Elliot McGucken organized the event. McGucken teaches a class in
artistic entrepreneurship in which Bogle=92s 2005 book, =93The Battle
for
the Soul of Capitalism,=94 is required reading alongside Homer=92s
=93Odyssey.=94

The theme of a hero=92s journey, therefore, permeated Bogle=92s
presentation.

=93Classical precepts are the most useful tools throughout life,=94
McGucken said. =93Ideals are a great a long-term investment, because
they never change.=94

Bogle reached out to students, urging them to pursue an education and
to become a citizen characterized by ethics and ideals.

=93Dream, but act too,=94 Bogle said. =93You have nearly all of your
own
odyssey before you=85 if you are truly strong in will to strive, seek,
find, and not to yield.=94

Many students found the presentation to be valuable and could relate
to Bogle=92s assessment of the business world.

=93I thought it was pretty interesting, especially with the moral
aspect
to see such a wealthy man and how he founded his business,=94 said
freshman Maurice Collins.

Freshman Kamron King agreed.

=93To see his humble beginnings makes acquiring that much wealth seem
tangible,=94 King said.

Events will come to a close Saturday with an online lecture by
McGucken. Entrepreneurship Week USA is a nation-wide event
established by the Ewing Marion Kauffman Foundation and sponsored by
The New York Times and Inc. magazine. --http://graphic.pepperdine.edu/
news/2007/2007-03-01-bogle.htm

Festival to promote business creativity

RICHARD NAVA

Staff Writer , the Graphic:

http://graphic.pepperdine.edu/news/2007/2007-03-29-festival.htm

The excitement of the epics of the past can be utilized to promote
creativity and entrepreneurship, according to the organizers of the
first Hero=92s Journey Entrepreneurship Festival, held Saturday.

Seaver College will host the event at the Pepperdine School of Law.

The festival will include several professionals in the arts and
humanities field including Flint Dille and John Zuur of the award
winning =93Chronicles of Riddick=94 and David Whatley, the CEO of
Simutronics. The festival will also include a keynote speech by
William Fay, who is the executive producer of films such as =93The
Patriot,=94 =93Superman Returns=94 and the current blockbuster movie
=93300=
.=94

=93The Hero=92s Journey Entrepreneurship Festival seeks to give
students,
artists and entrepreneurs the tools to make their passions their
professions,=94 said Dr. Elliot McGucken, visiting professor of
business. =93The rising generation is longing for epic story across
all
mediums.=94

McGucken=92s growing popularity is clearly visible not only in his
students, but also fellow members of the Pepperdine staff and faculty.
Vice Chancellor Michael Warder, for example, said the concept of
spreading entrepreneurship and business to artists of all types is
part of McGucken=92s genius.

=93I think he speaks to creative students who are steeped in the
digital
revolution in a very powerful and responsible way,=94 Warder said.

McGucken said he originally had the idea for the festival in the fall.
McGucken=92s work is supported by a $125,000 grant that Pepperdine
received from the prestigious Ewing Marion Kauffman Foundation to
further curriculum development for Artistic Entrepreneurship and
Technology; a curriculum that has many students eager to participate.

Pepperdine student Dylan Vandam was asked to be a volunteer for the
festival and said he immediately wanted to get involved.

=93I want to network with other students, faculty and professionals to
pursue and to incorporate the knowledge imparted from the leaders at
the festival into my everyday life,=94 Vandam said.

As a student volunteer, Vandam has contributed to the festival by
designing the t-shirts that will be worn and given away March 31.
Vandam hopes to use his education in pursuing a life based on strong
values, which he says he has learned as a Pepperdine student.

Junior Michelle Petty is also a participant and student volunteer for
the festival. Petty is a creative writing major and said she was
excited when she first heard about the event through Facebook.

Petty says she will have a multi-faceted role in the festival as an
usher, liaison, and clean-up crew member.

=93Even though doing this will take up a lot of my Saturday writing
time, I know it will be an edifying experience,=94 Petty said.

The festival will begin at the Law School at 8 a.m. and will include
lectures and speeches throughout the day. It will not conclude until
after 8 p.m. at The Malibu Inn where there will be special musical
quests.

All are welcome to volunteer and participate in the festival this
Saturday, and also in the volunteer meeting that will be held today at
7 p.m. in the Atrium. For more information please contact Dr. McGucken
at Elliot.McGuc...@Pepperdine.Edu, or visit the festival=92s Web site
at
http://www.herosjourneyentrepreneurship.org.

http://graphic.pepperdine.edu/news/2007/2007-03-29-festival.htm

[shakespea...@gmail.com]

THE PEPPERDINE GRAPHIC

New business class connects student passion with capital

AIRAN SCRUBY News Editor

Students from a variety of majors are coming together in a classroom
setting to make their dreams come true.

The class, Artistic Entrepreneurship and Technology, is listed through
the Business Division, but all students may participate.

The course was added to Pepperdine=92s curriculum this year, and is
taught by a visiting professor, Dr. Elliot McGucken. McGucken
previously taught a similar course at the University of North Carolina
at Chapel Hill, and has implemented the course in his new post at
Pepperdine.

The course is being offered in two forms: as a freshman seminar course
and as an upper-division class, comprised mainly of juniors and
seniors.

McGucken said the goal of the class was to help students pursue their
passion in their careers, and to keep in mind their artistic vision
and ethics over the bottom line in business ventures.

=93Ideals are real,=94 McGucken said.

McGucken=92s class at UNC gained media attention as an exciting
opportunity for students looking to market their artwork, or to make
business an art.

=93Looks like McGucken=92s found a way to inspire a new generation of
artistically minded entrepreneurs to follow their passion, and make a
living,=94 wrote Teresea Ciulla in Entrepreneur Magazine.

Matt Llewellyn, a senior advertising and marketing major who is
enrolled in the class, said McGucken=92s youth and experience make
him
an effective professor.

=93I think he relates to students, because he=92s fresh and new,=94
Llewellyn said.

McGucken himself is an entrepreneur, who won a Merrill Lynch
Innovations Grant for his artificial retina for the blind, runs
several websites, and has several patents pending on topics ranging
from video games to digital rights management.

Artie Calhoun, a senior economics major, said McGucken=92s experience
brought an extra dimension to the class.

=93Dr. McGucken seems to be very experienced in the field of
entrepreneurship and quite possibly has a lot to offer to students
like myself,=94 Calhoun said.

Llewellyn started a company which sells bottled water in downtown Los
Angeles, with packaging written in Spanish. He said he wishes he had
taken the class before he started his venture.

=93I think as the class goes on, I=92m going to learn a lot from
[McGucken],=94 Llewellyn said.

Llewellyn and Calhoun agreed students should take the class,
regardless of their major.

=93This class teaches about the advantages of thinking outside the box
and keeping an open mind about the world around you,=94 Calhoun said.
=93Entrepreneurship can be found in every profession.=94

Here=92s what the Entrepreneur Magazine Blog had to say about AE&T:

Mixing Art With Entrepreneurship, by Teresa Ciulla: Can you actually

make your passion your profession? According to Dr. Elliot McGucken, a
professor at the University of North Carolina, Chapel Hill, who's
teaching the university's first "Artistic Entrepreneurship &
Technology 101" class, the answer just may be yes. McGucken's class,
which is comprised of a group of 45 students majoring in law,
business, art, computer science, journalism and music, focuses on
teaching students about creating value over just making money, about
letting their higher ideals guide the bottom line. After all, as
McGucken says, "Successful companies aren't successful because they
make money--they're successful because they create value." Class
projects range from a classical music video to a hip hop curriculum
and textbook to an online art gallery to a freshman's record label
that's signed more than ten bands to a social network being programmed
by three computer science majors. Students are seeing that to the
degree they succeed in creating useful art and ventures, they'll be
able to support their passions with a profitable business. And isn't
that what we're all really striving for? To find an excitement in our
work in order to beat back the dullness of the typical 9-to-5 routine?
Looks like McGucken's found a way to inspire a new generation of

artistically minded entrepreneurs to follow their passions=97and make
a
living.

UNC's Daily Tar Heel Reported in March, 2006

Students find dream jobs In class, passions fuel business plans

Erin Wiltgen, Staff Writer

For many, childhood and adolescence pass in a blur of hobbies and
passionate adventures, activities seeped in a deep-seated excitement
and love inherent in a particular pastime.

In UNC professor Elliot McGucken's "Artistic Entrepreneurship and
Technology" class, students and teachers work to "make your passion
your profession," transforming students' dreams and interests into
potential paths for the future.

The unique course allows students interested in fields such as
photography, video games, painting, classical music and film
production to explore commercial and social ventures in the arts.

They search for and create a plan based in entrepreneurship, which
supports and nurtures their individual visions.

"A lot of times school tells you that your dreams aren't important,"

says McGucken, a physics professor. "But in reality dreams are your
most important asset."

The class consists of an independent project that includes three
presentations, guest lectures and small-group collaboration.

Sophomore Phil Gennett's project is a clothing line, and he is trying
to find a manufacturer for his creations.

He also intends to set up a talent agency.

"I want to blow it up into a new sort of entertainment, like American
Idol, but also as a social network for opportunities," Gennett says.

Sophomore Ryan Dean is working on multiple projects. He runs a graphic
design company called Cellar Door Design. He also has joined with a
photographer in the class to create CD booklet artwork for the second
album by his band, The Anchor Comes Home.

"What's most helpful is meeting like-minded people," Dean says.

"The best thing about this class is establishing relationships with
the other students and collaborating with each other."

Stefan Estrada, graduate student and teaching assistant for the class,
shares a similar view.

"The people in this class have ambition and a vision of things they
want to accomplish," Estrada says.

"This isn't a class where you get something done and forget about it.

It continues to maybe become your career." .. . . McGucken also says

that entrepreneurship classes give students a broader knowledge base.

"It's an irony that the University requires you to specialize when
people typically end up switching jobs five or six times and need to
know about a lot of different things," McGucken says.

At 5 p.m. Tuesday, the class will host a show at Local 506 on Franklin
Street.

The show, called "Rocky Raccoon's High Tech Hollywood Hip Hop Hedge
Fund Hoedown and Fashion/Art/Photography/Video Games Showdown" will
feature musical and spoken-word performances, fashion shows, film and
video screenings and displays of visual art and photography.

The show is designed as a networking event and as a benefit for the
Music Maker Relief Foundation and three web sites - OSCommerce.com,
Joomla.org and Gallery.menalto.com.

The Music Maker foundation works to help pioneers of Southern musical
traditions gain recognition and meet their financial needs.

One goal of the show, and the class itself, is "to build new cultural
centers," McGucken says.

"The University has been separated artificially," he says.

"This class has naturally collapsed all the barriers between business
and art and law, putting all the power in the hands of the creator."

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

Email this post:
Title: Celebrating Entrepreneurship Week with John C. Bogle, Founder
of Vanguard
Author: Elliot McGucken
Description: Celebrating Entrepreneurship Week with John C. Bogle,
Founder of Vanguard & Hero=92s Journey Entrepreneurship by Dr. Elliot
McGucken, Pepperdine University herosjourneyentrepreneurship.org
=93The
stock exchange is a poor substitute for the Holy Grail.=94 =96Joseph
Schumpeter Come hear John C. Bogle deliver the keynote speech for
Pepperdine=92s Entrepreneurship Week at 7:30 PM on February 27th in
Caruso Hall at the Pepperdine University School of Law. Across the
country, colleges and universities will celebrate Entrepreneurship
Week (February 24 to March 3, 2007) with lectures and special programs
reflecting on the significant role entrepreneurship plays in creating
=93the wealth of nations.=94 Typically thought of as a venue for
business
and industry, entrepreneurship=92s ideals and precepts can be found in
all realms of a classical liberal arts education=97in every epic story
based on the classic Hero=92s Journey, from The Odyssey, to the
American
Founding, to Wall Street entrepreneur John Bogle=92s founding of
Vanguard. Campbell=92s Hero=92s Journey tells of the reluctant hero
hearing a =93call to adventure.=94 They embark on a =93road of
trials,=94
ascend the mountain, and =93return on home with the elixir=94=97ideals
rendered real in the service of others. And classic entrepreneurs like
Bogle, who keep the higher ideals above the bottom line as did
Odysseus, are needed on Wall Street and Main Street, in Hollywood and
the Heartland, in academia and government=97such is the call to
adventure in Artistic Entrepreneurship & Technology 101. Bogle first
heard the =93call to adventure=94 in 1949, when, while searching for a
senior thesis topic at Princeton, he came across a Fortune Magazine
article which stipulated that money managers rarely beat the market.
Why then=97he applied common sense to the obvious=97the same common
sense
which let Einstein, Shakespeare, and Twain spin gold from the
obvious=97
are we paying money managers? Bogle=92s 1951 senior thesis set his
ideals in stone, =93The principal function of mutual funds is the
management of their investment portfolios. Everything else is
incidental . . . Future industry growth can be maximized by a
reduction of sales loads and management fees . . . Mutual funds can
make no claim to superiority over the market averages . . . funds
should operate in the most efficient, honest, and economical way
possible.=94 Walter L. Morgan, founder of the famous Wellington Fund,
read Bogle=92s thesis and became his =93mentor=94 and boss. Bogle
=93crosse=
d
the threshold=94=97taking the train from Princeton to Wall
street=97and wen=
t
on to replace his mentor as head the Wellington Fund, whence he
assembled a =93fellowship=94 of whiz-kids who had achieved an
extraordinary record over the previous years. They accompanied him on
the =93road of trials=94 as they lead Wellington to new heights. But
then,
during the market decline in the early seventies, Bogle found himself
fired in a =93reversal of fortune.=94 In the darkness of the =93belly
of th=
e
whale,=94 he saw opportunity. He would ride back into town for a
=93showdown.=94 Bogle writes, =93The Company directors who fired me
comprised a minority of the board of Wellington Fund itself, so I went
to the Fund Board with a novel proposal: Have the Fund, and its
then=97
ten associated funds (today there are 100), declare their independence
from their manager. It wasn't exactly the Colonies telling King George
III to get lost, as it were, in 1776. But fund independence=97the
right
of a fund to operate in the interest of its own shareholders, free of
conflict and domination by the fund's outside manager=97was at the
heart
of my proposal.=94 Bogle won this battle, and he implemented the moral
premise of his Princeton senior thesis in the form of the world=92s
first index fund, returning on home with the =93elixir=94 that is
Vanguard, enriching the common investor with =93the ultimate boon.=94
Managing the Wellington fund by hiring partners based on past
performance had been a =93refusal of the call=94 he had heard back at
Princeton=97a =93temptation from the true path.=94 But our humble
hero,
buoyed by the eternal ideals of service, simplicity, and common sense,
was =93resurrected=94 in Vanguard, stronger than ever. Bogle humbly
describes the apotheosis: =93The magic, such as it may be, of the
index
fund is simply that it gets the croupiers largely out of the game: No
sales charges; no management fees; tiny operating costs; virtually no
transaction costs; high tax efficiency. Anyone could have had=97and I
imagine many others did have=97this banally simple, completely obvious
insight.=94 So it is that many hear the =93call to adventure,=94 but
all to=
o
often the story ends with the =93refusal of the call.=94 Like
Odysseus,
Bogle sailed it on home. Some controversy surrounded Bogle stepping
down as Vanguard=92s chairman, but by then our veteran voyager had
demonstrated that there was but one who could string the bow. The
Vanguard brand retains its value via Bogle=92s senior thesis, books,
and
speeches=97by his words, just as the Odyssey has voyaged over 2800
years
by Homer=92s words. Ideals are real, and thus make excellent long-term
investments. Just as Odysseus was opposed in his own home, Bogle has
oft been opposed by Wall Street Lotus Eaters who prefer short-term
temptations=97the Sirens of speculation and Wall Street=92s
casinos=97over
the long-term wealth that is generated by the prudent allocation of
capital towards rugged innovation, integrity, and classic
entrepreneurship=97the kind of investing that the world=92s greatest
investor=97Warren Buffett=97also happens to favor. The common sense
premise of classic entrepreneurship=97the risk taker ought get the
reward
=97resounds throughout all of Bogle=92s works. While Odysseus was
risking
his life, serving his country in battle, the suitors to his wife
Penelope stayed back home, partying and depleting the wealth of his
estate, just as the ironic, managerial class is depleting the wealth
of our savings, investments, and cultural heritage. In the opening
words of The Odyssey, Homer tells us why we ought to read Bogle=92s
Battle for the Soul of Capitalism: He saw the townlands and learned
the minds of many distant men, and weathered many bitter nights and
days in his deep heart at sea, while he fought only to save his life,
to bring his shipmates home. But not by will nor valor could he save
them, for their own recklessness destroyed them all children and
fools, they killed and feasted on the cattle of Lord Helios, the Sun,
and he who moves all day through heaven took from their eyes the dawn
of their return. Of these adventures, Muse, daughter of Zeus, tell us
in our time, lift the great song again. Battle is a most optimistic
book, beginning with a call to the rising generation =93To begin the
world anew.=94 Bogle =93lifts the great song again,=94 reminding us
that
entrepreneurship is a hero=92s journey=97an art that must be performed
in
the context of immortal ideals. Bogle writes, =93In retrospect, I
believe that idealism=97the dream of a better world; fairness to one's
fellow human beings; focus on simplicity; emphasis on
stewardship=97has
driven my life from Blair Academy to Princeton, and then through my
long career. Happily, I've learned that the link between idealism and
economics is a powerful one. Indeed, both Vanguard's structure and the
index fund concept are classic examples of the fact that enlightened
idealism is sound economics.=94 As we celebrate entrepreneurship week,
we must celebrate those Great Books and Classics that have bestowed
upon us the everlasting wealth that exalts the better angels of our
nature. The soul is defined not via science, but via Epic Story, and
thus the soul of capitalism derives not from economics, but rather
economics derives from story=97from hero=92s journey entrepreneurship
performed both in living ventures and immutable classics. By studying
artistic entrepreneurship, students will see the vast opportunity that
abounds in the humble service of higher ideals=97in owning the risk of
the renaissance.

Kauffman Campuses

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

Email this post:
Title: Celebrating Entrepreneurship Week with John C. Bogle, Founder
of Vanguard
Author: Elliot McGucken
Description: Celebrating Entrepreneurship Week with John C. Bogle,
Founder of Vanguard & Hero=92s Journey Entrepreneurship by Dr. Elliot
McGucken, Pepperdine University herosjourneyentrepreneurship.org
=93The
stock exchange is a poor substitute for the Holy Grail.=94 =96Joseph
Schumpeter Come hear John C. Bogle deliver the keynote speech for
Pepperdine=92s Entrepreneurship Week at 7:30 PM on February 27th in
Caruso Hall at the Pepperdine University School of Law. Across the
country, colleges and universities will celebrate Entrepreneurship
Week (February 24 to March 3, 2007) with lectures and special programs
reflecting on the significant role entrepreneurship plays in creating
=93the wealth of nations.=94 Typically thought of as a venue for
business
and industry, entrepreneurship=92s ideals and precepts can be found in
all realms of a classical liberal arts education=97in every epic story
based on the classic Hero=92s Journey, from The Odyssey, to the
American
Founding, to Wall Street entrepreneur John Bogle=92s founding of
Vanguard. Campbell=92s Hero=92s Journey tells of the reluctant hero
hearing a =93call to adventure.=94 They embark on a =93road of
trials,=94
ascend the mountain, and =93return on home with the elixir=94=97ideals
rendered real in the service of others. And classic entrepreneurs like
Bogle, who keep the higher ideals above the bottom line as did
Odysseus, are needed on Wall Street and Main Street, in Hollywood and
the Heartland, in academia and government=97such is the call to
adventure in Artistic Entrepreneurship & Technology 101. Bogle first
heard the =93call to adventure=94 in 1949, when, while searching for a
senior thesis topic at Princeton, he came across a Fortune Magazine
article which stipulated that money managers rarely beat the market.
Why then=97he applied common sense to the obvious=97the same common
sense
which let Einstein, Shakespeare, and Twain spin gold from the
obvious=97
are we paying money managers? Bogle=92s 1951 senior thesis set his
ideals in stone, =93The principal function of mutual funds is the
management of their investment portfolios. Everything else is
incidental . . . Future industry growth can be maximized by a
reduction of sales loads and management fees . . . Mutual funds can
make no claim to superiority over the market averages . . . funds
should operate in the most efficient, honest, and economical way
possible.=94 Walter L. Morgan, founder of the famous Wellington Fund,
read Bogle=92s thesis and became his =93mentor=94 and boss. Bogle
=93crosse=
d
the threshold=94=97taking the train from Princeton to Wall
street=97and wen=
t
on to replace his mentor as head the Wellington Fund, whence he
assembled a =93fellowship=94 of whiz-kids who had achieved an
extraordinary record over the previous years. They accompanied him on
the =93road of trials=94 as they lead Wellington to new heights. But
then,
during the market decline in the early seventies, Bogle found himself
fired in a =93reversal of fortune.=94 In the darkness of the =93belly
of th=
e
whale,=94 he saw opportunity. He would ride back into town for a
=93showdown.=94 Bogle writes, =93The Company directors who fired me
comprised a minority of the board of Wellington Fund itself, so I went
to the Fund Board with a novel proposal: Have the Fund, and its
then=97
ten associated funds (today there are 100), declare their independence
from their manager. It wasn't exactly the Colonies telling King George
III to get lost, as it were, in 1776. But fund independence=97the
right
of a fund to operate in the interest of its own shareholders, free of
conflict and domination by the fund's outside manager=97was at the
heart
of my proposal.=94 Bogle won this battle, and he implemented the moral
premise of his Princeton senior thesis in the form of the world=92s
first index fund, returning on home with the =93elixir=94 that is
Vanguard, enriching the common investor with =93the ultimate boon.=94
Managing the Wellington fund by hiring partners based on past
performance had been a =93refusal of the call=94 he had heard back at
Princeton=97a =93temptation from the true path.=94 But our humble
hero,
buoyed by the eternal ideals of service, simplicity, and common sense,
was =93resurrected=94 in Vanguard, stronger than ever. Bogle humbly
describes the apotheosis: =93The magic, such as it may be, of the
index
fund is simply that it gets the croupiers largely out of the game: No
sales charges; no management fees; tiny operating costs; virtually no
transaction costs; high tax efficiency. Anyone could have had=97and I
imagine many others did have=97this banally simple, completely obvious
insight.=94 So it is that many hear the =93call to adventure,=94 but
all to=
o
often the story ends with the =93refusal of the call.=94 Like
Odysseus,
Bogle sailed it on home. Some controversy surrounded Bogle stepping
down as Vanguard=92s chairman, but by then our veteran voyager had
demonstrated that there was but one who could string the bow. The
Vanguard brand retains its value via Bogle=92s senior thesis, books,
and
speeches=97by his words, just as the Odyssey has voyaged over 2800
years
by Homer=92s words. Ideals are real, and thus make excellent long-term
investments. Just as Odysseus was opposed in his own home, Bogle has
oft been opposed by Wall Street Lotus Eaters who prefer short-term
temptations=97the Sirens of speculation and Wall Street=92s
casinos=97over
the long-term wealth that is generated by the prudent allocation of
capital towards rugged innovation, integrity, and classic
entrepreneurship=97the kind of investing that the world=92s greatest
investor=97Warren Buffett=97also happens to favor. The common sense
premise of classic entrepreneurship=97the risk taker ought get the
reward
=97resounds throughout all of Bogle=92s works. While Odysseus was
risking
his life, serving his country in battle, the suitors to his wife
Penelope stayed back home, partying and depleting the wealth of his
estate, just as the ironic, managerial class is depleting the wealth
of our savings, investments, and cultural heritage. In the opening
words of The Odyssey, Homer tells us why we ought to read Bogle=92s
Battle for the Soul of Capitalism: He saw the townlands and learned
the minds of many distant men, and weathered many bitter nights and
days in his deep heart at sea, while he fought only to save his life,
to bring his shipmates home. But not by will nor valor could he save
them, for their own recklessness destroyed them all children and
fools, they killed and feasted on the cattle of Lord Helios, the Sun,
and he who moves all day through heaven took from their eyes the dawn
of their return. Of these adventures, Muse, daughter of Zeus, tell us
in our time, lift the great song again. Battle is a most optimistic
book, beginning with a call to the rising generation =93To begin the
world anew.=94 Bogle =93lifts the great song again,=94 reminding us
that
entrepreneurship is a hero=92s journey=97an art that must be performed
in
the context of immortal ideals. Bogle writes, =93In retrospect, I
believe that idealism=97the dream of a better world; fairness to one's
fellow human beings; focus on simplicity; emphasis on
stewardship=97has
driven my life from Blair Academy to Princeton, and then through my
long career. Happily, I've learned that the link between idealism and
economics is a powerful one. Indeed, both Vanguard's structure and the
index fund concept are classic examples of the fact that enlightened
idealism is sound economics.=94 As we celebrate entrepreneurship week,
we must celebrate those Great Books and Classics that have bestowed
upon us the everlasting wealth that exalts the better angels of our
nature. The soul is defined not via science, but via Epic Story, and
thus the soul of capitalism derives not from economics, but rather
economics derives from story=97from hero=92s journey entrepreneurship
performed both in living ventures and immutable classics. By studying
artistic entrepreneurship, students will see the vast opportunity that
abounds in the humble service of higher ideals=97in owning the risk of
the renaissance.

[shakespea...@gmail.com]

Kauffman Campuses

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

MBAs need MFAs as much as MFAs need MBAs
Posted: May 22, 2006 5:20 PM CDT
Topic/Type:
Author: Elliot McGucken
Not only would it be great see more arts departments encouraging their
students to walk over to the business and law schools, but it would be
cool to see the business and law schools encourging their students to
walk over to the arts departments. More and more business schools,
ncluding Harvard and Stanford, are teaching courses on ethics that are
rooted in the classics. So it is that artists--those who study and
live higher aestehtics--have great potential for leadership.

"I am not a businessman—I am an artist." –Warren Buffett

Too often it seems modern academia tries to pigeon-hole people,thereby
undermining the full range and potential of anyone with a dream that
transcends the program. We're told that it's one kind of person who
does science, another who does art, another who does law, and then
another who does business. It's as if once you learn how to walk,
you're never supposed to talk--you have to get someone from a
different department. But in the real world, in order to lead and
innovate, you have to both walk and talk--you've got to get your hands
into everything. Is it law that makes the iPod successful? Is it
art? Is it technology? Is it business? It are all of these things,
and Steve Jobs' didn't first have to get degrees in art, technology,
business, and law. But he did sit in on a Calligraphy class after he
dropped out. In his own words at the Stanford commencement:

"Reed College at that time offered perhaps the best calligraphy
instruction in the country. Throughout the campus every poster, every
label on every drawer, was beautifully hand calligraphed. Because I
had dropped out and didn't have to take the normal classes, I decided
to take a calligraphy class to learn how to do this. I learned about
serif and san serif typefaces, about varying the amount of space
between different letter combinations, about what makes great
typography great. It was beautiful, historical, artistically subtle in
a way that science can't capture, and I found it fascinating." (Jobs)

"None of this had even a hope of any practical application in my life.
But ten years later, when we were designing the first Macintosh
computer, it all came back to me. And we designed it all into the Mac.
It was the first computer with beautiful typography. If I had never
dropped in on that single course in college, the Mac would have never
had multiple typefaces or proportionally spaced fonts. And since
Windows just copied the Mac, its likely that no personal computer
would have them. If I had never dropped out, I would have never
dropped in on this calligraphy class, and personal computers might not
have the wonderful typography that they do. Of course it was
impossible to connect the dots looking forward when I was in college.
But it was very, very clear looking backwards ten years later." (Jobs)

The arts--aesthetics--are of huge value to the business world--now
more than ever.

Artistic entrepreneurs--those who see the value of keeping the higher
ideals above the bottom line--will be a great assett to tomorrow's
mutual funds and Hollywood studios alike. For long-term investors
must always navigate by the higher ideals.

Here's Donald Trump on business & art:

"I view my business as an art, which it is. You should view your work
that way too. . . Here's why. Artists are known for their
dedication, to their ideals, to their muse—whatever that might be—and
for their perseverance in getting things just right. Those are
admirable traits to possess. They will go to great lengths to achieve
the desired result. Just recently a Beethoven manuscript was
discovered in a library. He had made so many changes and scratches on
it that he had punctured holes in the pages in some places. This work
was done towards the end of his life, so he wasn't a novice at writing
music at that point. That was just how he worked. Beethoven was a
perfectionist, who wouldn't settle for less than his best. He didn't
need to impress anyone except himself. That's a good way to be,
whether you're a businessperson or a musician." –Real World Art: The
Canvass that is Business, Donald J. Trump, Chairman, Trump University

Well it'll be fun to create programs where artists and entrepreneurs
not only hang out, but where artists are entrepreneurs, and
entrepreneurs are artists.

Art is a great unifier--it naturally transcends so many false
boundaries. Arts curriculums are thus great vehicles for manifesting
IE. When graduate students are given full opportunities to reach
their potential, everyone wins.

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please email Desiree Vargas.

MBAs need MFAs as much as MFAs need MBAs
Posted: May 22, 2006 5:20 PM CDT
Topic/Type:
Author: Elliot McGucken

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Email this post:
Title: Introduction to The Hero’s Journey: Tales of Entrepreneurial
Faculty
Author: Megan Storm
Description: I have had almost a month to reflect on our Kauffman

Artistic Entrepreneurship and Technology Brainstorm in Austin, and I
would like to pick up where Desiree left off in her previous post with

entrepreneurial faculty... In that spirit, I thought it would be fun

to interweave findings and comments from our Austin meeting into the
same monomyth structure (otherwise known as the Hero's Journey) that
Elliot McGucken uses for his Artistic Entrepreneurship and Technology
class.

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[shakespea...@gmail.com]

On Apr 4, 11:28 pm, shakespearephys...@gmail.com wrote:
> Path: g2news2.google.com!postnews.google.com!
> v5g2000prm.googlegroups.com!not-for-mail
> From: epic westerns <epicweste...@gmail.com>
> Newsgroups: Path: g2news2.google.com!postnews.google.com!
> v5g2000prm.googlegroups.com!not-for-mail
> From: epic westerns <epicweste...@gmail.com>
> Newsgroups:Path: g2news2.google.com!postnews.google.com!
> v5g2000prm.googlegroups.com!not-for-mail
> From: epic westerns <epicweste...@gmail.com>
> Newsgroups: alt.philosophy,alt.entrepreneurs,alt.business
> Subject: The Philosophy of Entrepreneurship
> Date: Fri, 9 Jan 2009 14:34:39 -0800 (PST)
> Organization:http://groups.google.com
> Lines: 2213
> Message-ID: <ef7afce8-6c36-4b66-a227-

> a4634146e...@v5g2000prm.googlegroups.com>

> Entrepreneurshiphttp://www.entrepreneur.com/blog/0,6834,,00.html#1

> related video. --BusinessWeek Onlinehttp://www.businessweek.com/smallbiz/content/mar2007/sb20070305_37042...

> chan=3Dsmallbiz_smallbiz+index+page_getting+started
>
> From Beethoven to Bob Dylan
>
> "Every artist is an entrepreneur." So argues Dr. Elliot McGucken, a
> visiting professor at Pepperdine University, in an online video
> introduction to his course, Art Entrepreneurship & Technology 101,
> which has the professor lecturing from the shore of a small lake.
> Among his suggestions for artists who want to be more entrepreneurial:
> launch a blog (see BusinessWeek.com, 5/18/06, "The ABCs of Beginning
> Your Blog", prepare a one-minute presentation on "your mission," write
> a 20-page business plan, and be prepared to work for a long time "for
> free." For information on courses in entrepreneurship geared toward

> artists, take a look athttp://www.ae2n.net. It's still in its

> formative stages but eventually will feature reading lists and course

> evaluations. =96BusinessWeek Onlinehttp://www.businessweek.com/smallbiz/content/oct2006/sb20061002_05675...

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UNC faculty weave entrepreneurship with diverse disciplines
Posted: Oct 19, 2005 9:52 PM CDT
Topic/Type: Faculty perspective; University of North Carolina - Chapel
Hill
Author: Desiree Vargas

Click to play video (requires RealPlayer)

As you may have experienced, entrepreneurship isn't universally
embraced by all faculty. Often professors have difficulty seeing the
intersection of their disciplines with entrepreneurship. But at UNC,
that's hardly the case for Buck Goldstein, John Stewart, and Elliot
McGucken.

Buck, a successful entrepreneur turned professor, and John, director
of undergraduate studies and professor of economics, are an example of
collaboration at its finest. Merging personal experiences and years of
experience in academia, these two co-teach courses for the
entrepreneurship minor for non-business majors. Hear from them as they
discuss the benefits of collaboration and the success of the minor.

Click to play video (requires RealPlayer)

Elliot comes from a somewhat different background. A physicist by
training, a computer whiz, and a serial innovator, it's hard to know
how he has enough time to invent courses like "Artistic
Entrepreneurship and Technology." When talking to him, it's difficult
not to be impressed by his dedication to his students and to the
creative process, but you really must see his site (linked above) to
understand the brilliance of this course. Here he tells us about the
popularity of the course and describes his motivations.

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please email Desiree Vargas.

Email this post:
Title: Artistic Entrepreneurship & Technology : The Class\’s Final
Lecture : Class Begins Today
Author: Elliot McGucken
Description: Teaching is all about inspiring people to realize their
full potential, and in that sense, AE&T was filled not with students,
but teachers. Every artist is an entrepreneur. Every entrepreneur is
an artist. And all artists and entrepreneurs are teachers. Think about
the immense amount you learned from your peers in this class. A guest
professor from Computer Science sat in on Tuesday's class, and she was
vastly impressed with the presentationsb the professional photography,
the classical music video, the PR firm, Charlie & Stephen's technology
startupb all of them. And that was but the tip of the iceberg of all
the class's talent. Perhaps the greatest trait of this class was the
rich idealism and exalted values expressed throughout the
semesterb the immense faith that the world is yet to be born, that we
can do better, that movies can more aptly signify the depths of our
souls, that music can better exalt our higher aspirations, that visual
art and sculpture carry a unique, precious value that can be found in
no other medium and which must be revived or lost; that we could use a
renaissance in storytelling across the boardb in NY publishing and
Hollywood and Video Games, that Wall Street would be better off
focusing on the higher idealsb long term investing in Truthb s
Beautyb as opposed to the bottom line marketing and hype that afflicts
so many contemporary ventures from Mutual Funds to Music. That we
could build better systems for digital rights management, wherein
artists chose their rights, thus realizing the full beauty of the
cutting edge technologies as well as the classical rights laid out in
the Constitution. That art, business, law, and technology could better
be served with a simple, age-old, philosophyb Ideals are Real. What I
witnessed in class was leadership at its highest level. People
committed to their craft, to their ideals. Not leadership presented in
power point presentations nor recognized with high ceremony, but that
quiet, consistent, humble leadership that always ends up getting
everything done. The very hallmark of that classic, rugged American
spirit that's perfectly happy to take one small step at a time on
towards that infinite goal. You guys are artists, and after spending a
semester with you, it makes sense that you're seeking to make your
passions your professions, as your passions abound. And there is no
greater value you can give to the world. This class is a fellowship.
We shall all meet again, but for now we must part way to pursue our
own venturesb to embark on our own private Hero's Journeys, as the
true class begins. Take the good spirit and cheer of the class with
you. Know that you are in good company when you're filling out the
grant proposals, finishing that photography exhibit, setting up that
art show, or writing those short stories that are begging to be
written, to be turned into a novel, to be shot as a movie. And keep in
mind that the artistic life is ironicb there is nothing that is more
encompassing of all of humanityb there is nothing that crosses so many
barriers and bordersb there is nothing that more deeply touches the
heart and soul, the mind and spirit, all simultaneouslyb there is
nothing that brings us closer together than books, movies, music, and
art; and yet, at times, there are few endeavors as lonely. For all
great art, as all lasting leadership, comes from some individual
staring off alone. But take the light side of this irony to
heartb although you labor alone for the moment, you're in very good
company in doing so. In the deep of night, as you finish that final
cut all bleary eyed, know you're part of a vast Fellowship. T.S. Eliot
called it the community of eternal souls, and it is that unique
individuality by which you stamp all your work that exalts all of us
in our own unique individualities, setting us free from the madding
crowds. The arts are yours for the makingb the renaissances and
revivals are yours for the taking. And by the taking, I mean seizing
that sword from the stone, claiming that treasure at the pinnacles of
your journeys, and bringing them on back for the rest of us to see.
For that is the artist's jobb to seize those distant treasures and
share them with her audience. It ain't easy, climbin' that mountain.
And it's been inspiring watching all of you doing it. From all the
talent in Language Artsb from the raw charisma and music, all the way
to Pierce's natural leadership and quiet faithb the living, ineffable
poetry that will take him far in all he does. Such qualities resounded
throughout the class, and know thisb it is that deep-down poetry that
is your most valuable asset in all you do. Never trade it, sell it,
nor forget it. In all business, law, and technology, it is the art
that must lead, as art is the manifestation of the higher idealsb art
is the immortal parts of our souls setting themselves free. Art is
what resounded throughout the classb Amanda Smith's rockin' music and
Nashville dreamsb she will be there. The Black Swamp Bootleggers'
sense of destiny that we all now shareb did you guys know that they
just formed in January? That they just bought their very first PA
system? That they got radio airplay, performed for the Chancellor, and
booked gigs throughout the summer? And that they just bought a
Greyhound tour bus? Well, not just yet. Daniel Heath's immense talents
and humble postings reminding us of that Higher faith from which all
other value derives, and the good humor of so manyb will Daniel be a
successful entertainment lawer? A singer/songwriter? A producer? All
those are just names for jobs, and Daniel will be something that
transcends them allb an artistic entrepreneurb exalting us and fellow
artists in all he does. Charlie's & Stephen's professional business
plan that would bring jobs and value and wealth to Chapel Hill would
but some Angel investor see itb Franklin Street longs for such
ingenious startups to attract and employ talentb maybe there's room to
build it over Players; Travis's interests in everything and genuine
enthusiasm that'll open doors in evey venture he pursuesb video games,
moviesb next-gen storytelling; James heading off to LA to dance with
Janet Jackson after the first lecture, Lauren & Triple Threat's cool
dreams of starting a school to help artists rock their
dreamsb starting in Charlotte, and then heading up to NY, Candy's firm
faith that artists ought to be paid, that artists must be paid, that
artists will be paidb backed up with the action of setting up two art
showsb one for the Chancellor; Rebbecca/Kelly/Jane's exploration of a
PR firm that they'll be continuing in internships and jobsb watch for
Rebecca's VH1 "Where are they now?" special about our class. Will
Hackneyb the class's only freshmanb most rockin' record labelb Trekky
Records. Sweater Weather's and the Anchor Comes Home's rockin' music
and the multiple talents of Bobby Sweat & Ryan Deanb artists,
musicians, poets, and natural entrepreneursb just rockin' every day
and in every way as they were born to do. Jessica's hard work & talent
in shooting & editing the videos, Jordan's answering her call to join
the world of film, accepted into the screenwriting program, and
Hannah's professional award-winning documentary and inspirational
spiritb all threeb Jessica, Jordan, and Hannah will be heading to LA
over the summer. Kaushal Shah's thirty year plan rockedb he's got the
music, the site, the spirit, he kicked off Rocky Raccoon's, and was
one of the first business students to get in on AE&Tb send us a link
to your thirty year plan! Michael Woods' immense energy and plans to
light up the Chapel Hill and Triangle nightlife with events at La
Rezb he's on the right track here to something huge. This area needs
more rockin' arts, fashion, and music showsb and Michael's gonna throw
some video gaming in there as wellb the Triangle's hungry for this,
and where there is demand, there lies a business. Hannah lived the
Hero's Journey in shooting her documentaryb the call to adventure, the
magic flight/escape from Thailand, the numerous cuts/editing and
complete changes of direction, and the final delivery of a film that
rocked the Full Frame festival and PBS the same weekend. Tiera's
rockin' promotional company, Loose Bricks clothing to help charities,
Billow's future fashion line, and Phil Gennet's myriad ventures, all
united under Phil's "can-do" spirit. Everyone keep an eye on Philb I
bought four suits from him, and so did the Chancellor. Summer & Gail's
rockin' classical music videob the first time they ever picked up a
camera and edited something, and they blew us all away with the first
classical music video ever shot. There's a solid business thereb they
could get financing to produce upscale classical music videos and sell
them throughout the worldb educational & beyondb rock those dreams
Summer & Gail. Brooke's rockin' fashion designs and the awesome dress
she had made and modeledb so many ways Brooke can be a player in the
fashion industryb it was cool watching her approach it from every
angle, looking for the best way on up that mountain. Thatb s what
schoolb s all about, as when you graduate, thereb s going to be more
pressure to choose a definitive path. Crystal's most inspiring
photography and her wise adviceb b when you make contactsb don't just
talk shopb hang out with them too." Bill & Max rockin' the myspace
page and plans for law schoolb we need more lawyers with artist's
souls, as when you read the Declaration of Independence or
Constitution, you'll note a profundity and eloquence that could only
have been rendered by classical poets. Keep runnin' with it. Keep
rockinb it. That dream that the world has not yet seen. That new
vision. You've never done it before. But don't be scared. Because
nobody has. By following our dreams long enough, we become them,
embodying the abstract ideals we once saw upon that distant horizon. I
haven't mentioned nearly everyone in this, but there wasn't anyone in
the class who doesn't have what it takes to direct. To shoot. To
build. To sculpt. To record. To rock. To rap. To teach. To promote. To
create. To make your passion your profession. They're gonna tell you
nob especially in this day and age that all too often emphasizes group-
think, marketing, and hype over intrinsic value, but you gotta call
the bluff. You see the cards you're holding. And those things that
make you youb your ideals and dreams and truth and beautyb are four
aces. And donb t ever let anyone talk it down, b cause know thisb the
cards call themselves. I've said it a hundred timesb there is nothing
more valuable that your passions and your ideals. They are you. The
biggest risk you face is not dreaming big enough, not working hard
enough. Not believing that it is your right, as it is your duty, to
dream until your dreams come true. The biggest risk you face is being
somebody else. You are surfing a giant, unstoppable wave. It is called
time. You are on its cutting edgeb the present. You've got to take
chancesb you've got to weigh the odds now and then, look for the
opening, and do what you've got to do to ride his wave as you were
born to do. Youb ve gotta know your limitations, but you canb t fear
them. And those chances you take in testing your full potential aren't
risksb if you stop taking chances on that cutting-edge waveb if you
opt out, the wave will wash right on over you. You've got to think on
your feetb one wrong move, one suspect second, and you could wipe out.
But you'll get back up. And do it again. And you'll know what it takes
next time. The greater risk is in not following your ideals, in not
remaining loyal to your deep-down dreams. The greater risk is in
taking no risks. The greater risk is folding while holding four aces.
As Wayne Gretskyb the NHL's all time leading scorerb said, "I missed
every shot I never took." You get what you put in. And people get what
they deserve. Thanks to each and every one of you for teaching us all
this semester. Define the world with your higher idealsb with your
music & poetry & art & living literatureb or it will define you via
its bureaucracy. You were born into a most rare era, and a most unique
country, where you get to say what you want and own what you do. But
with these rights come dutiesb the duty to inspire. Ideals are Real.
Rock those Dreams. And so it is that this class ends. And AE&T begins.

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What are the challenges of teaching entrepreneurship across the
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ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

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Most Recent Posts

Artistic Entrepreneurship & Technology as an Academic Discipline

Hero’s Journey Renaissance : Second Annual Hero’s Journey
Entrepreneurship Festival
Elliot McGucken’s IT Conversations Podcast on Artistic
Entrepreneurship & Technology 101

[shakespea...@gmail.com]

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Arts, Technology and Entrepreneurship
Posted: Mar 30, 2006 5:11 PM CDT

Comments:

Posted by Kimberly Loui on 04/03 at 01:21 PM

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Thursday, May 11, 2006
Challenges, but promising signs in El Paso region
Posted: May 11, 2006 3:34 PM CDT
Topic/Type: Community outreach; University of Texas-El Paso
Author: Keith Mays

Two centers under the CEDARS umbrella lead efforts to have an impact
on entrepreneurship in the El Paso region.

Click to play video (requires RealPlayer)

Brooks Vandivort is director E-Corps, which gives students projects to
help local entrepreneurs, and other community outreach activities. In
this clip, right, he talks about how he is encouraged by the amount of
activity in the area, particularly in the cooperation and discussion
between various local entities, as well as CEDARS's emerging role as a
facilitator.

Click to play video (requires RealPlayer)

Dr. Santiago Ibarreche is the director of the Center for Hispanic
Entrepreneurship, which has goals of furthering knowledge, networks
and dialogue around Hispanic entrepreneurship. He talked about the
uniqueness of the El Paso region, both because of its physical
location and because of the culture, and how that affects efforts to
expand entrepreneurship.

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Tuesday, May 02, 2006
In a rich cultural stew, stir in some entrepreneurship
Posted: May 02, 2006 2:52 PM CDT
Topic/Type: Introductions; University of Texas-El Paso
Author: Keith Mays

Laid out before me on this warm Texas night, a valley filled with
lights to the horizon. It's a short taxi ride from the airport to the
Camino Real hotel in downtown El Paso. Perhaps I have a misperception
about the size of El Paso? It wouldn't be my first incorrect
assumption of the trip. I'd also thought it would be a short hop to El
Paso from Houston, where my connecting flight was. But, it took almost
as long to get from one Texas city to another, as it did to get from
Kansas City to Houston.

It turns out that El Paso, the home of Kauffman Campus the University
of Texas-El Paso, is pretty much as far west as you can go in Texas.
More significantly, the vast population I see before me is actually
Ciudad Juarez, the Mexican sibling of El Paso, separated by a border,
but always part of the conversation. The population of this region is
around 2 million and growing, with about two-thirds of that on the
Mexican side. A 2001 Time magazine article on the border summed it up
with the headline: "Two Countries, One City: El Paso and Juarez only
seem separate. They share the same air, same water and the same
destiny."

Frank Hoy, at Cattleman's
This blending of cultures is a theme that runs throughout our visit.
Dr. Frank Hoy, our host and director of CEDARS (Centers for
Entrepreneurial Development, Advancement, Research and Support) at
UTEP, is a native of the area, married to Patricia, who was born in
Mexico. On our last evening, they take us on a tour of the area, which
includes stops at Spanish missions, a Mexican bakery and Cattleman's
Steak House, which seems about as Texan as you can get (even though it
was started by a German). On our tour, we pass through some of the
most impoverished areas in the United States, emphasizing the need for
new businesses to create jobs.

Tougher border security since 9/11 has tested the strength of the
bonds of the two parts of this community. An estimated 10 percent of
the student body of UTEP endures crosses the border from Mexico each
day, which can unpredictably take as long as two hours. Going in the
other direction, it is now more difficult for American entrepreneurs
to do business across the border.

It is in this rich and challenging environment that the CEDARS staff
is going about its work. Entrepreneurship is not an academic exercise
at UTEP. Entrepreneurship at UTEP is uniquely directed outward to the
community, with goals of business creation and growth, leading to
regional economic development.

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Wednesday, April 12, 2006
Getting Started: before you plan your program, know your faculty
Posted: April 12, 2006 4:00 PM CDT
Topic/Type:
Author: Desiree Vargas

One question we get more than any other is "How do you start an
entrepreneurship program on a campus?" Unfortunately, my answer often
disappoints. The truth, which may be obvious, is that there is no one
way. Entrepreneurship education has changed so much since it was first
offered at Harvard in the 1940's that it is difficult to really
explain why some schools have been more successful than others at
initiating and sustaining a cross-campus program. Of course money
always helps, so our first eight Kauffman Campuses may not be quite as
replicable as we had hoped. But beyond that, I think the answer lies
in finding out a few things before you even start the planning phase.

Do a cultural diagnostic of your campus

This I am borrowing mostly from the University of Illinois at Urbana-
Champaign. Before they ever got started they sent out a survey to
faculty and students to gauge how receptive these groups would be to
an entrepreneurship program. In doing this they not only collected a
baseline to which they could compare future surveys, but they were
also able to find some unexpected champions in departments far removed
from the business school, which leads me to my next suggestion:

Discover your champions

You would be surprised how many faculty members on your campus have
thought about or been entrepreneurial without even recognizing it.
This seems to be true for every single campus we have visited. Whether
the professor is from biomedical engineering, theater studies, or
English, there is most likely someone on your campus who has launched
a venture, started a non-profit, or acted entrepreneurially within
your institution by pushing through a new major, minor, etc. (think
intellectual entrepreneurship). Get them involved early.

At Wake Forest University, for example, an anthropology professor (and
self-proclaimed socialist) is now an advocate for entrepreneurship
education after recognizing how her work in the Free Trade, Fair Trade
world fits into the mission of the program--helping students to
identify and pursue opportunities that create value for society. One
can only imagine the ripple effects of having someone like her on
board among a skeptical liberal arts community.

Learn to say "entrepreneurship" in several languages

No, I do not mean in Japanese, Russian and French (cheap shot--sorry,
GW). What I do mean, however, is learn to speak the language that your
audience is most comfortable with and define entrepreneurship as
broadly as possible. There is a reason liberal arts faculty shy away
from entrepreneurship. Most "model" curriculums include terms like
"market feasibility research," "cost/value assessment," "cash flow,"
and "exit strategy," none of which speaks to the interests or
expertise of the humanities, fine arts, or sciences. Instead, whoever
is leading the initiative must look at the entrepreneurial skill sets
that will resonate with the different audiences on his/her campus. For
example use the language of creativity and design for faculty in the
arts and sciences. Generate a discussion about where creativity lies
in the artistic process. An idea is just an idea until someone puts it
on canvas, builds it or experiments with it, but they only do that if
they see some potential value in the final product. This is
opportunity recognition--choosing which ideas to pursue.

But just experimenting or painting a portrait does not necessarily
mean that the idea has value. Even art in its purist form has little
value if there is no one but the artist to see it. An artist cannot
sit in her studio waiting to be discovered. Similarly, research for
the sake of research is wonderful and pushes the limit of our current
understanding, but if no one reads that researcher's paper how will it
ever make a difference? In order for there to be value in these ideas
they must be shown to someone besides the original creator. Finding
ways to do this with the greatest impact requires the allocation of
resources (intellectual and capital) and includes marketing,
advertising, and networking (of one's self and his/her venture).

I have heard the argument from faculty that they do not want to dilute
the discipline by teaching in business terms. But really that is not
what entrepreneurship embedded within a discipline is. It is a tool by
which to teach students how to take their passions and create value--
social value, monetary value, personal value. And it is a way for us
to help students take what they have learned in the variety of courses
they study and apply that knowledge to real world problems and
solutions. This is what students are looking for. This is what keeps
them engaged and inspired.

Remind your faculty that this is why they do what they do...or at
least it should be.

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Introduction to The Hero’s Journey: Tales of Entrepreneurial Faculty

Adventure calls! Stay tuned...

Ambiguity and entrepreneurship education
Posted: March 10, 2006 3:22 PM CDT
Topic/Type:
Author: Desiree Vargas

My boss has been cleaning her office. Normally this would not be cause
for excitement by anyone's standards, but it just so happens that the
cleaner her office gets the more cluttered mine becomes with hidden
gems that I would never have seen otherwise.

This week's pearl was an article by Yusra Laila Visser called
"Ambiguity in Learning: Issues and Implications for Instructional
Design." Initially, the title did not appeal to me, and I almost filed
it away without reading it. But I stopped and asked myself why I was
so averse to the title. I realized that it was the word "ambiguity"
that I was afraid of. The article immediately reminded me of the 45
page paper I had to read on the word "habitus" in college with its
vague, theoretical language that really only makes sense to academics.
But I decided to prove myself right by reading it nonetheless.
Fortunately, I was wrong. Instead of presenting intangible concepts,
the article led me to a wonderful personal epiphany.

According to Visser there are 8 definitions for ambiguity: 1) multiple
meanings, 2) vagueness, incompleteness or fragmented, 3) a
probability, 4) unstructured, 5) lack of information, 6) uncertainty,
7) inconsistencies and contradictions, and 8) unclear. He goes on to
describe the difference between relative and absolute ambiguity--
relative results from lack of information and absolute relates to
permanent uncertainty. He superimposes these to education saying,
"Where ambiguity is the result of a lack of knowledge, there is a need
for assisting learners in developing the strategies for gathering and
analyzing additional sources of information, while ensuring that the
existence of the ambiguity does not hamper the effort in attaining
such information. In the case where ambiguity is of an absolute
nature, there is above all a need for ensuring that the learner is
able to reconcile the existence of the ambiguous state, and that the
learner can develop the strategies for further exploring the reality
within the contradictory or ambiguous state."

This, to me, defines the role of the professor--to help students
clarify the relative ambiguity of entrepreneurship while at the same
time giving them tools to navigate its absolute ambiguities.

There are a hundreds of questions that make up the relative and
absolute ambiguities of entrepreneurship that may guide us in creating
appropriate curricula. Here are just a few.

Relative ambiguity (lack of information): 1. What is entrepreneurship?
2. What kind of entrepreneurship exists? 3. What is entrepreneurship's
role in society? 4. What societal constraints/tools are there to
obstruct/promote entrepreneurship? 5. How has entrepreneurship shaped
our society/economy/politics? The list continues.

Absolute ambiguity (uncertain): 1. Where do opportunities lie? 2. How
does one create a new venture? Secure funding? Grow the venture? 3.
Where are the appropriate support systems? 4. What are the legal and
financial requirements of starting a venture? 5. How does one make a
profit? 6. What is a long-term sustainability strategy? 7. When is the
best time to exit? 8.When is the appropriate time in one's life to
start a venture? 9. What are the common mistakes of starting a
venture?

In answering the "relative ambiguity" questions there are thousands of
courses that could be developed, none of which would require the word
"entrepreneurship" to even be in the title. They are questions that
lend themselves to the embedding of entrepreneurship in our current
curricula. Professors could instruct their existing courses through
the lens of entrepreneurship, making it a theme that does not dilute
or take away from the core lessons of that discipline.

The "absolute ambiguity" of entrepreneurship, on the other hand,
cannot, or maybe should not, be embedded into another discipline. The
answer to most of those questions is "it depends," which creates a
ubiquitous uncertainty. Because the questions surrounding starting a
venture are universal, they do not change fundamentally when an artist
or an engineer is asking them.

The challenge that these ambiguities pose is defining the role of the
professor. In courses dealing with the relative ambiguity of
entrepreneurship, the traditional sage on the stage method seems
appropriate. But in courses relating to absolute ambiguity, the
professor must be willing to enter uncharted territory and learn along
with his students. In order to effectively help students "navigate"
the ambiguity, the professor or mentor must give students tools to
explore the uncertainty so that it becomes less daunting.

Maybe one of the reasons that engineering students and art students
have been so quick to adopt entrepreneurship is that its ambiguity
falls within their academic comfort zones. An engineer or scientist is
asked to solve problems. The problem itself can be ambiguous, and the
student goes into the investigation knowing that there may be many
solutions. Some are simply better than others.

For an artist there is no solution. There is only feedback. They enter
every performance, show, exhibit with complete uncertainty about how
their audience will react. They also have very little to work with in
terms of strategy. Professors teach techniques that help students
master their craft, but ultimately the creation of the artwork comes
from the artist's creativity, mettle, and willingness to push new
boundaries.

The Socratic method of teaching the majority of liberal arts courses
does not easily lend itself to this same ambiguity in creation.
Students are taught the basic themes of literature, history,
philosophy, economics, and so on, but the product of their study is
usually a paper or presentation that is the internalization of the
lessons from their professors and texts. The challenge, of course, is
to think critically about the world and identify patterns, which
teaches students to be knowledgeable, thoughtful and questioning
citizens, but where does the ambiguity lie in this education? And how
can we introduce it so that students are less ambiguity averse?

So, the epiphany is: Maybe the reason we are having so much resistance
from liberal arts faculty in entrepreneurship education stems from
their own discomfort with the ambiguity of the subject matter.

What do you think?

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Thursday, March 09, 2006
Lessons Learned
Posted: March 09, 2006 3:53 PM CDT
Topic/Type:
Author: Desiree Vargas

So far we have been using this space to relay to all of you some of
the activities that are happening at our 8 Kauffman Campuses. But that
really only tells a portion of the story.

As many of you know cross-campus entrepreneurship has become the major
focus of our collegiate grant-giving. We have been in the "business"
of entrepreneurship education since our inception, seeding programs in
business schools where we thought entrepreneurship would have the
greatest potential for academic legitimacy. But it was not until some
of us talked to Amar Bhide of the Columbia Business School that we
found out that only 15% of the founders of Inc.500 Companies had an
M.B.A. in 1998 but 83% had college degrees (The Origin and Evolution
of New Businesses, 2000). Needless to say, entrepreneurs are educated,
they just aren't being taught entrepreneurship.

Our initial thought during the late `90's dot com boom was that the
new ventures were being created by scientists and engineers whose
research and technology was fueling the innovation of the next
millennium. All we needed to do was teach these engineers how to start
businesses and "bull's-eye!" we could guarantee our nation's continued
economic and cultural prowess. But the growing capabilities of Asia,
the mounting U.S. deficit, and the less than speedy adoption of our
fool-proof plan had us looking for plan B.

Our answer was the Kauffman Campuses Initiative (KCI). In December of
2003 we selected 8 schools to receive a total of $25 million to fund
efforts that would take entrepreneurship across the campus, ultimately
creating greater student awareness of the importance of
entrepreneurship and giving students the skills to pursue ideas that
would bring value to society. Following or current strategy of funding
sustainable and scalable programs, we chose diverse schools that we
hoped would become models for other colleges and universities. But
what we have learned along the way is that no matter how similar two
schools look on paper, there is no one way to spread entrepreneurship
on a campus.

Below you will find a list of some of the Lessons Learned that we
collected from the campuses at a meeting at Florida International
University in November. Please add to this list. The success of
entrepreneurship education requires your collaboration.

Lessons Learned

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Friday, February 17, 2006
Student-owned businesses offer real-world experience
Posted: February 17, 2006 12:47 PM CDT
Topic/Type:
Author: Keith Mays

Click to play video (requires RealPlayer)

A high-visibility example of entrepreneurship in action on the
Washington University campus is the Student-Owned Businesses program.
When the Gregg Hall dormitory was opened in 1999, the first floor was
set aside as space for student shops. These businesses cater mostly to
student needs: bike rental, water delivery, screen printing -- nine
physical shops currently, with online ones popping up, also. These are
not merely mock exercises in running a business. The outlay and return
of money is real. One consolidated student-owned business recently
reported annual revenues of more than $300,000. Julie Thornton,
director of Student Activities, oversees the program and explains in
this clip how demand is outstripping physical space. She also talks
about steps the university is making to integrate this program with
other entrepreneurship activities on campus. You'll also hear from
Teddy Purnomo, a student business owner who is connecting talented
students on campus with clients in the community.

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Monday, February 13, 2006
Entrepreneurship initiative strengthens community
Posted: February 13, 2006 2:33 PM CDT
Topic/Type: Leadership; Washington University in St. Louis
Author: Keith Mays

Click to play video (requires RealPlayer)

For Washington University Chancellor Mark Wrighton, the Kauffman
initiative has meant an opportunity to strengthen community – at
several different levels. First, in an institution in which deans
operate fairly autonomously, controlling their own budgets, the
initiative is a rare opportunity to create ties and collaboration
within the university. Second, it has opened doors to working with
other area institutions, such as the University of Missouri-Columbia
and the Missouri Botanical Garden. Last, Wrighton sees the initiative
as helping to improve the community that Washington University is a
part of, by engaging St. Louisans in entrepreneurial activities and by
drawing talented people to the area.

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Monday, February 06, 2006
Scattering the seeds of entrepreneurship widely
Posted: February 06, 2006 10:20 AM CDT
Topic/Type: Washington University in St. Louis
Author: Keith Mays

Click to play video (requires RealPlayer)

Founded in 1853, Washington University in St. Louis might be expected
to have settled into a comfortable existence, as do many organizations
over time. Why challenge the traditions that made this a respected
institution?

James McLeod believes the entrepreneurship initiative is causing his
university to stretch in new ways, but is also a way to come back to
the values that made it great place of higher learning in the first
place. McLeod, vice chancellor for students and dean of the College of
Arts & Sciences, chairs the curriculum sub-committee for the Kauffman
initiative at Washington University. He spoke of how he believes the
key to the adoption of entrepreneurship on campus is to have its seeds
sprinkled throughout the institution, so that it will be rooted in a
diverse and sustainable way.

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Friday, January 13, 2006
A profound cultural shift in the making
Posted: January 13, 2006 1:33 PM CDT
Topic/Type: Business school role; Washington University in St. Louis
Author: Keith Mays

One theme we've heard often while on our visits is that cross-campus
entrepreneurship initiatives are starting conversations between
faculty, staff and students who normally wouldn't have talked much
before. By nature, an entrepreneur must know a certain amount about a
lot of things — science, law, management, marketing, and finance, as
examples — to start and run a business successfully. So, it makes
sense that people from different disciplines around campus need to mix
to effectively integrate entrepreneurship curriculum.

Click to play video (requires RealPlayer)

Mahendra Gupta is dean of the Olin School of Business and Geraldine J.
and Robert L. Virgil Professor of Accounting and Management. He talked
eloquently about the cultural change he sees at Washington University
due to the cross-campus initiative. While the transformation isn't
complete, he believes profound changes are occurring at the university
because of the collaboration between individuals and groups previously
content in their silos.

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Thursday, January 05, 2006
Where do ideas for new companies come from?
Posted: January 05, 2006 2:34 PM CDT
Topic/Type: Washington University in St. Louis
Author: Keith Mays

Click to play video (requires RealPlayer)

It's great to have a business plan, but where did that idea come from
in the first place? Through his research and a course he is
redesigning, Washington University associate professor Keith Sawyer
aims to help entrepreneurs and business majors understand the creative
process better. For many years, he has taught The Psychology of
Creativity through the College of Arts & Sciences, drawing mostly
students from the arts, psychology and education. In part with
Kauffman Foundation funding, he is transforming this class into one
called Creativity and Innovation, with more emphasis on how ideas for
new businesses and products come about.

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Wednesday, January 04, 2006
School of Social Work integrates entrepreneurship
Posted: January 04, 2006 9:11 PM CDT
Topic/Type: Social entrepreneurship; Washington University in St.
Louis
Author: Keith Mays
While "social entrepreneurship" is a well-established term,
surprisingly few university schools of social work are exploring this
approach – usually this topic is taught under the auspices of business
schools. However, at Washington University's George Warren Brown
School of Social Work, entrepreneurship concepts are actively being
integrated. The need for non-profit leaders to have entrepreneurial
skills is recognized at Washington University. However, the Social
Entrepreneurship class co-taught by the university's school of social
work and the Olin School of Business focuses "on the opportunity to
create innovative 'earned income' revenue solutions to funding mission
based social organizations."

Click to play video (requires RealPlayer)

Barbara Levin, coordinator of the Alliance for Building Capacity,
talks about social entrepreneurship efforts at the university and the
realities of working entrepreneurially in non-profit setting, right.
The Alliance for Building Capacity, which is contained within the
school of social work, provides consulting to St. Louis-area non-
profits.

Click to play video (requires RealPlayer)

Jess Geevarghese, a graduate student earning degrees in business and
social work, had the opportunity to work as a social entrepreneurial
for a San Francisco landscaping company last summer. She talks about
that experience as well as what she sees as an emerging awareness of
social responsibility among business students and her involvement in
the NetImpact organization.

Click to play video (requires RealPlayer)

Another MBA/MSW student, Thomas Stehl, has become involved with a
challenging opportunity through the Alliance for Building Capacity.
Together with a local doctor who does work in Haiti, he is looking at
ways to best distribute an enriched peanut butter to malnourished
children in that country. Part of his process will be to make this
challenge a project for the Hatchery, a business school course in
which student teams develop business plans for traditional and social
entrepreneurs.

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Sunday, December 11, 2005
Community outreach central to Washington University efforts
Posted: December 11, 2005 9:20 PM CDT
Topic/Type: Community outreach; Washington University in St. Louis
Author: Keith Mays

Click to play video (requires RealPlayer)

Without connections to the community, entrepreneurship would be an
abstract concept for students. Students at Washington University have
many opportunities to experience entrepreneurship first-hand through
numerous channels into the St. Louis community. Through internships
and consulting relationships, students can put their growing
entrepreneurial skills to use with area business and non-profits;
entrepreneurs from the community participate in lectures and business
plan competitions.

Chris Dornfeld is Entrepreneurship Collaboration Director for the
Skandalaris Center. Through his years of public, private and non-
profit experience in St. Louis, Chris has an established network of
contacts in St. Louis. In this clip, Chris talks about the importance
of outreach efforts.

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Introducing Washington University in St. Louis
Posted: December 11, 2005 8:37 PM CDT
Topic/Type: Introductions; Washington University in St. Louis
Author: Keith Mays

Washington University in St. Louis was the next stop on our tour of
Kauffman Campuses. Founded in 1853, this tree-lined campus featuring
Collegiate Gothic architecture is a fixture of central St. Louis.
Steep admission standards and an emphasis on teaching and research
have helped establish Washington University as a top-tier institution
nationally, comparing favorably with many other private universities
that may have more name recognition. Washington University is
consistently recognized as being among the top-ranked schools for
number of doctoral degrees awarded, federal research grant funding
received and endowment funds held. The Schools of Medicine and Social
Work are regarded as among the handful of best programs in the
country. Balancing academics is an emphasis on community outreach,
with a high proportion of students involved in volunteer projects.

Click to play video (requires RealPlayer)

While the John M. Olin School of Business was dedicated in 1988, the
study of entrepreneurship only began to emerge in the 1990's, through
the evolution of the Olin Cup into a business plan competition. In
2001, the founding of The Skandalaris Entrepreneurship Program and the
Hatchery Seed Capital Fund, both within the business school, marked an
expansion of entrepreneurship education at Washington University. The
Kauffman Foundation grant, in 2003, served to help make
entrepreneurship cross-campus, along with establishment of the
Skandalaris Center for Entrepreneurial Studies, a campus-wide
operation reporting to the Chancellor.

Ken Harrington, a seasoned executive in entrepreneurial companies, has
been the point person as managing director of the Skandalaris Center
and has overseen the increase of entrepreneurial activities over the
past few years. In the clip above, Ken talks about Washington
University's initial approach to the Kauffman Foundation grant and how
efforts have evolved in the past two years.

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Page 7 of 8 pages « First < 5 6 7 8 >

[shakespea...@gmail.com]

Kauffman Campuses

What are the challenges of teaching entrepreneurship across the
campus? This blog's mission is to give a voice to faculty forging
ahead in this new territory. If you'd like to share your experiences,
please email Desiree Vargas.

More Required Reading: Mark Cuban’s Blog

Simple, avoid risk.

"That’s the substance of The Battle, so now for a little background.

As I mentioned at the outset of my remarks this evening, many of the
ideas in my book are consistent with the ideas of some of our best and
brightest economic thinkers. My central criticism about investment
management, for example, is that a huge portion of the $400 billion
that our financial system consumes each year is a dead-weight drag on
the returns earned by investors as a group. After all, when we deduct
from the gross returns produced in the stock market, the costs that we
pay to our investment intermediaries, we investors actually receive
only what remains. We investors dine, in fact, at the bottom of the

financial food chain. It’s pretty simple, and it’s incontrovertible."

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Comments:

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I have read many article regarding to this topic and done lots of
research for the same. but here i get something new.thanks for
sharing.
Posted by MBA Colleges on 10/27 at 08:53 AM

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mark cuban gives some great info, start a company with little cost
Posted by humble apartments on 10/28 at 02:11 PM

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Artistic Entrepreneurship & Technology as an Academic Discipline

Hero’s Journey Renaissance : Second Annual Hero’s Journey
Entrepreneurship Festival
Elliot McGucken’s IT Conversations Podcast on Artistic
Entrepreneurship & Technology 101

Hero’s Journey Entrepreneurship : Opportunity Abounds
Pepperdine Summer MBA Arts Entrepreneurship Class
John Bogle at Pepperdine
Entrepreneurs and Higher Education: Catalysts for Advancing
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Institute for Regenerative Medicine at Wake Forest University
Celebrating Entrepreneurship Week with John C. Bogle, Founder of
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Title: Elliot McGucken’s IT Conversations Podcast on Artistic
Entrepreneurship & Technology 101
Author: Elliot McGucken
Description: http://itc.conversationsnetwork.org/shows/detail1887.html

Tired of being a starving artist? Dr. Elliot McGucken's Artistic
Entrepreneurship & Technology 101 puts together a new approach to
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taught the class at both UNC Chapel Hill and Pepperdine, and has
expanded the concept through blogs, a festival, and an upcoming book.
In this interview McGucken describes how the course applies the
structure of the monomyth, the fundamental pattern of the great hero
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examples from modern real-life success stories like Richard Branson

and Kid Rock. McGucken explains why the web's democratization of both

the means of production and distribution can be used by the big
companies to continue to exploit artists, or instead used by indie
artists themselves who preserve their own rights in their successful
journey. It's your choice, if you take it.

http://itc.conversationsnetwork.org/shows/detail1887.html

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http://itc.conversationsnetwork.org/shows/detail1887.html Tired of

being a starving artist? Dr. Elliot McGucken's Artistic
Entrepreneurship & Technology 101 puts together a new approach to
entrepreneurship and the arts through a fascinating application of the
classic journey of mythological heroes. McGucken, a physicist, has
taught the class at both UNC Chapel Hill and Pepperdine, and has
expanded the concept through blogs, a festival, and an upcoming book.
In this interview McGucken describes how the course applies the
structure of the monomyth, the fundamental pattern of the great hero
narratives throughout history, from Odysseus, Jesus, and Buddha to
Star Wars, Lord of the Rings, and The Matrix. Also called the Hero's
Journey, Joseph Campbell identified this pattern in his book The Hero
With A Thousand Faces. McGucken even takes it a step beyond, using
examples from modern real-life success stories like Richard Branson

and Kid Rock. McGucken explains why the web's democratization of both

the means of production and distribution can be used by the big
companies to continue to exploit artists, or instead used by indie
artists themselves who preserve their own rights in their successful
journey. It's your choice, if you take it.

http://itc.conversationsnetwork.org/shows/detail1887.html">
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Search

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Monthly Archives

Choose Month: Complete Archives June 2008 March 2008 January 2008

October 2007 June 2007 March 2007 February 2007 January 2007 November
2006 October 2006 September 2006 August 2006 June 2006 May 2006 April

2006 March 2006 February 2006 January 2006

Blog Authors

Ann Abbott (2)

Bhavan Suri (1)

Desiree Vargas (1)

Elliot McGucken (38)

eWeek Faculty Blogger (7)

Most Recent Posts

Artistic Entrepreneurship & Technology as an Academic Discipline

Hero’s Journey Renaissance : Second Annual Hero’s Journey
Entrepreneurship Festival
Elliot McGucken’s IT Conversations Podcast on Artistic
Entrepreneurship & Technology 101

Hero’s Journey Entrepreneurship : Opportunity Abounds
Pepperdine Summer MBA Arts Entrepreneurship Class
John Bogle at Pepperdine
Entrepreneurs and Higher Education: Catalysts for Advancing
Sustainability web cast
Institute for Regenerative Medicine at Wake Forest University
Celebrating Entrepreneurship Week with John C. Bogle, Founder of
Vanguard
The Entrepreneurial Educator

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On Sunday, 5 April 2009 at 08:01:52 UTC+1, shakespea...@gmail.com wrote:
> On Apr 4, 11:53 pm, shakespearephys...@gmail.com wrote:
> > You have reached the cached page forhttp://blog.kauffman.org/index.php/campuses/P90/
> > Below is a snapshot of the Web page as it appeared on 11/1/2008 (the
> > last time our crawler visited it). This is the version of the page
> > that was used for ranking your search results. The page may have
> > changed since we last cached it. To see what might have changed
> > (without the highlights), go to the current page.
> > Live Search is not responsible for the content of this page.
> >
> > Kauffman Campuses
> >
> > Welcome to the Kauffman Perspective blog for the Kauffman Campuses
> > program.
> >
> > Thursday, May 11, 2006
> > Challenges, but promising signs in El Paso region
> > Posted: May 11, 2006 3:34 PM CDT
> > Topic/Type: Community outreach; University of Texas-El Paso
> > Author: Keith Mays
> >
> > Two centers under the CEDARS umbrella lead efforts to have an impact
> > on entrepreneurship in the El Paso region.
> >
> > Click to play video (requires RealPlayer)
> > Brooks Vandivort is director E-Corps, which gives students projects to
> > help local entrepreneurs, and other community outreach activities. In
> > this clip, right, he talks about how he is encouraged by the amount of
> > activity in the area, particularly in the cooperation and discussion
> > between various local entities, as well as CEDARS's emerging role as a
> > facilitator.
> >
> > Click to play video (requires RealPlayer)
> > Dr. Santiago Ibarreche is the director of the Center for Hispanic
> > Entrepreneurship, which has goals of furthering knowledge, networks
> > and dialogue around Hispanic entrepreneurship. He talked about the
> > uniqueness of the El Paso region, both because of its physical
> > location and because of the culture, and how that affects efforts to
> > expand entrepreneurship.
> >
> > Permalink | Email This | Trackbacks (0) | Comments (0)
> > Tuesday, May 02, 2006
> > In a rich cultural stew, stir in some entrepreneurship
> > Posted: May 02, 2006 2:52 PM CDT
> > Topic/Type: Introductions; University of Texas-El Paso
> > Author: Keith Mays
> >
> > Laid out before me on this warm Texas night, a valley filled with
> > lights to the horizon. It's a short taxi ride from the airport to the
> > Camino Real hotel in downtown El Paso. Perhaps I have a misperception
> > about the size of El Paso? It wouldn't be my first incorrect
> > assumption of the trip. I'd also thought it would be a short hop to El
> > Paso from Houston, where my connecting flight was. But, it took almost
> > as long to get from one Texas city to another, as it did to get from
> > Kansas City to Houston.
> >
> > It turns out that El Paso, the home of Kauffman Campus the University
> > of Texas-El Paso, is pretty much as far west as you can go in Texas.
> > More significantly, the vast population I see before me is actually
> > Ciudad Juarez, the Mexican sibling of El Paso, separated by a border,
> > but always part of the conversation. The population of this region is
> > around 2 million and growing, with about two-thirds of that on the
> > Mexican side. A 2001 Time magazine article on the border summed it up
> > with the headline: "Two Countries, One City: El Paso and Juarez only
> > seem separate. They share the same air, same water and the same
> > destiny."
> >
> > Frank Hoy, at Cattleman's
> > This blending of cultures is a theme that runs throughout our visit.
> > Dr. Frank Hoy, our host and director of CEDARS (Centers for
> > Entrepreneurial Development, Advancement, Research and Support) at
> > UTEP, is a native of the area, married to Patricia, who was born in
> > Mexico. On our last evening, they take us on a tour of the area, which
> > includes stops at Spanish missions, a Mexican bakery and Cattleman's
> > Steak House, which seems about as Texan as you can get (even though it
> > was started by a German). On our tour, we pass through some of the
> > most impoverished areas in the United States, emphasizing the need for
> > new businesses to create jobs.
> >
> > Tougher border security since 9/11 has tested the strength of the
> > bonds of the two parts of this community. An estimated 10 percent of
> > the student body of UTEP endures crosses the border from Mexico each
> > day, which can unpredictably take as long as two hours. Going in the
> > other direction, it is now more difficult for American entrepreneurs
> > to do business across the border.
> >
> > It is in this rich and challenging environment that the CEDARS staff
> > is going about its work. Entrepreneurship is not an academic exercise
> > at UTEP. Entrepreneurship at UTEP is uniquely directed outward to the
> > community, with goals of business creation and growth, leading to
> > regional economic development.
> >
> > Permalink | Email This | Trackbacks (0) | Comments (0)
> > Wednesday, April 12, 2006
> > Getting Started: before you plan your program, know your faculty
> > Posted: April 12, 2006 4:00 PM CDT
> > Topic/Type:
> > Author: Desiree Vargas
> >
> > One question we get more than any other is "How do you start an
> > entrepreneurship program on a campus?" Unfortunately, my answer often
> > disappoints. The truth, which may be obvious, is that there is no one
> > way. Entrepreneurship education has changed so much since it was first
> > offered at Harvard in the 1940's that it is difficult to really
> > explain why some schools have been more successful than others at
> > initiating and sustaining a cross-campus program. Of course money
> > always helps, so our first eight Kauffman Campuses may not be quite as
> > replicable as we had hoped. But beyond that, I think the answer lies
> > in finding out a few things before you even start the planning phase.
> >
> > Do a cultural diagnostic of your campus
> >
> > This I am borrowing mostly from the University of Illinois at Urbana-
> > Champaign. Before they ever got started they sent out a survey to
> > faculty and students to gauge how receptive these groups would be to
> > an entrepreneurship program. In doing this they not only collected a
> > baseline to which they could compare future surveys, but they were
> > also able to find some unexpected champions in departments far removed
> > from the business school, which leads me to my next suggestion:
> >
> > Discover your champions
> >
> > You would be surprised how many faculty members on your campus have
> > thought about or been entrepreneurial without even recognizing it.
> > This seems to be true for every single campus we have visited. Whether
> > the professor is from biomedical engineering, theater studies, or
> > English, there is most likely someone on your campus who has launched
> > a venture, started a non-profit, or acted entrepreneurially within
> > your institution by pushing through a new major, minor, etc. (think
> > intellectual entrepreneurship). Get them involved early.
> >
> > At Wake Forest University, for example, an anthropology professor (and
> > self-proclaimed socialist) is now an advocate for entrepreneurship
> > education after recognizing how her work in the Free Trade, Fair Trade
> > world fits into the mission of the program--helping students to
> > identify and pursue opportunities that create value for society. One
> > can only imagine the ripple effects of having someone like her on
> > board among a skeptical liberal arts community.
> >
> > Learn to say "entrepreneurship" in several languages
> >
> > No, I do not mean in Japanese, Russian and French (cheap shot--sorry,
> > GW). What I do mean, however, is learn to speak the language that your
> > audience is most comfortable with and define entrepreneurship as
> > broadly as possible. There is a reason liberal arts faculty shy away
> > from entrepreneurship. Most "model" curriculums include terms like
> > "market feasibility research," "cost/value assessment," "cash flow,"
> > and "exit strategy," none of which speaks to the interests or
> > expertise of the humanities, fine arts, or sciences. Instead, whoever
> > is leading the initiative must look at the entrepreneurial skill sets
> > that will resonate with the different audiences on his/her campus. For
> > example use the language of creativity and design for faculty in the
> > arts and sciences. Generate a discussion about where creativity lies
> > in the artistic process. An idea is just an idea until someone puts it
> > on canvas, builds it or experiments with it, but they only do that if
> > they see some potential value in the final product. This is
> > opportunity recognition--choosing which ideas to pursue.
> >
> > But just experimenting or painting a portrait does not necessarily
> > mean that the idea has value. Even art in its purist form has little
> > value if there is no one but the artist to see it. An artist cannot
> > sit in her studio waiting to be discovered. Similarly, research for
> > the sake of research is wonderful and pushes the limit of our current
> > understanding, but if no one reads that researcher's paper how will it
> > ever make a difference? In order for there to be value in these ideas
> > they must be shown to someone besides the original creator. Finding
> > ways to do this with the greatest impact requires the allocation of
> > resources (intellectual and capital) and includes marketing,
> > advertising, and networking (of one's self and his/her venture).
> >
> > I have heard the argument from faculty that they do not want to dilute
> > the discipline by teaching in business terms. But really that is not
> > what entrepreneurship embedded within a discipline is. It is a tool by
> > which to teach students how to take their passions and create value--
> > social value, monetary value, personal value. And it is a way for us
> > to help students take what they have learned in the variety of courses
> > they study and apply that knowledge to real world problems and
> > solutions. This is what students are looking for. This is what keeps
> > them engaged and inspired.
> >
> > Remind your faculty that this is why they do what they do...or at
> > least it should be.
> >
> > Permalink | Email This | Trackbacks (0) | Comments (1)
> > Introduction to The Hero’s Journey: Tales of Entrepreneurial Faculty
> > Posted: April 12, 2006 3:57 PM CDT
> > Topic/Type:
> > Author: Megan Storm
> >
> > I have had almost a month to reflect on our Kauffman Artistic
> > Entrepreneurship and Technology Brainstorm in Austin, and I would like
> > to pick up where Desiree left off in her previous post with
> > entrepreneurial faculty. Let me first admit my bias: I LOVE teachers.
> > You know which teachers I'm talking about: the dedicated, passionate
> > teachers who shape, nurture, and inspire the students of today. I'm
> > talking about the ...
> >
> > read more »
> You have reached the cached page for
> http://blog.kauffman.org/index.php/campuses_faculty/email_this/elliot_mcguckens_it_conversations_podcast_on_artistic_entrepreneurship_tech/
> Below is a snapshot of the Web page as it appeared on 11/3/2008 (the
> last time our crawler visited it). This is the version of the page
> that was used for ranking your search results. The page may have
> changed since we last cached it. To see what might have changed
> (without the highlights), go to the current page.
> Live Search is not responsible for the content of this page.

> Kauffman Campuses
> What are the challenges of teaching entrepreneurship across the
> campus? This blog's mission is to give a voice to faculty forging
> ahead in this new territory. If you'd like to share your experiences,
> please email Desiree Vargas.
> Email this post:

> Title: Elliot McGucken’s IT Conversations Podcast on Artistic
> Entrepreneurship & Technology 101
> Author: Elliot McGucken
> Description: http://itc.conversationsnetwork.org/shows/detail1887.html

> Tired of being a starving artist? Dr. Elliot McGucken's Artistic
> Entrepreneurship & Technology 101 puts together a new approach to
> entrepreneurship and the arts through a fascinating application of the
> classic journey of mythological heroes. McGucken, a physicist, has
> taught the class at both UNC Chapel Hill and Pepperdine, and has
> expanded the concept through blogs, a festival, and an upcoming book.
> In this interview McGucken describes how the course applies the
> structure of the monomyth, the fundamental pattern of the great hero
> narratives throughout history, from Odysseus, Jesus, and Buddha to
> Star Wars, Lord of the Rings, and The Matrix. Also called the Hero's
> Journey, Joseph Campbell identified this pattern in his book The Hero
> With A Thousand Faces. McGucken even takes it a step beyond, using
> examples from modern real-life success stories like Richard Branson
> and Kid Rock. McGucken explains why the web's democratization of both
> the means of production and distribution can be used by the big
> companies to continue to exploit artists, or instead used by indie
> artists themselves who preserve their own rights in their successful
> journey. It's your choice, if you take it.

> http://itc.conversationsnetwork.org/shows/detail1887.html
> Your First Name:
>
> Your Last Name:
>
> Your Email Address:
>
> Message:
> Recipient's E-mail:
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> http://itc.conversationsnetwork.org/shows/detail1887.html Tired of
> being a starving artist? Dr. Elliot McGucken's Artistic
> Entrepreneurship & Technology 101 puts together a new approach to
> entrepreneurship and the arts through a fascinating application of the
> classic journey of mythological heroes. McGucken, a physicist, has
> taught the class at both UNC Chapel Hill and Pepperdine, and has
> expanded the concept through blogs, a festival, and an upcoming book.
> In this interview McGucken describes how the course applies the
> structure of the monomyth, the fundamental pattern of the great hero
> narratives throughout history, from Odysseus, Jesus, and Buddha to
> Star Wars, Lord of the Rings, and The Matrix. Also called the Hero's
> Journey, Joseph Campbell identified this pattern in his book The Hero
> With A Thousand Faces. McGucken even takes it a step beyond, using
> examples from modern real-life success stories like Richard Branson
> and Kid Rock. McGucken explains why the web's democratization of both
> the means of production and distribution can be used by the big
> companies to continue to exploit artists, or instead used by indie
> artists themselves who preserve their own rights in their successful
> journey. It's your choice, if you take it.

> http://itc.conversationsnetwork.org/shows/detail1887.html">
> << Back to main page
>
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