Sherisse WoodleyG. AndersonCreativity in BusinessJuly 15,
2014Case Study 1 p.351. Prior to starting the EET, what types of
things did Michael and Sheena do to help themselves build
entrepreneurial knowledge/skills?Michael started his own business
in high school, and used online class scholarship which helped him
to learn more about running a business and helped him overcome fear
of public speaking. He also wrote his first book The Student
Success Manifesto. He got involved in teaching inner-city high
school students about entrepreneurship and decided to get his
education at NYU.
Sheena started at the age of 17 by working at GreenHills
Ventures.
2. What motivated Michael and Sheena to start the EET?They
wanted to help college students realize their dreams through
entrepreneurship.
3. How did Michael and Sheena determine that the EET was a sound
idea? Did they use a feasibility analysis? What ideas did they
discard before deciding on the EET?They first started but
publishing the book Michael wrote, but they came to the realization
that they needed to sell a lot of units in order to make publishing
profitable enough to support them full time. They started to look
for bulk purchasers and decided to talk to groups of students when
the schools purchased the books, which helped them discover that
people will pay them to speak.
4. What are the key messages that the EET delivers to
prospective entrepreneurs? Successful young How they did it stories
Dream/idea creation with action plan and accountability A tour
focuses either on entrepreneurship or dream action
5. Is the EET a business model that would be conducive to
franchising? Why or why not?It can, but I wouldnt want to franchise
it out. They could outsource their employees to different
locations, but franchising wouldnt be conducive to franchise.
Theyre not like a McDonalds, or restaurant chain.
6. EET is a family business. How do Michael and Sheena address
the issues of balancing the demands of the business with those of
the family?Specific times are set aside for work, family, and
personal time. They also decided beforehand if dinner is to discuss
work or just time to be together and have fun.
