Thursday, December 8, 2011

Reslutions & Fashions Collective

Jeremy Pease is the co-founder of reslutions.com, a residential solutions website for on-campus housing for college students. He already owns about 2 to 3 companies and he is yet to complete his under-graduate degree. When he showed us some statistics that he pulled up about his work hours, he explained that he almost single-handedly coded the entire website. His achievements at his age are very much impressive.

Jeremy's strategy for starting up a company is simple; identify a problem, research for the solutions, analyze the market and competitors and then go ahead and build your solution. I found their ideas for companies very much practical and useful, which is very important when you are starting your own company. Most of the funding they received for reslutions was from a fellow student. He discussed about the problems they had with their third co-founder and explained how they handled a difficult situation successfully.

Jeremy too had similar advice for our class as most of the entrepreneurs we have met this semester, to keep working on projects that you have a passion for.

Our next speaker for that day was Elizabeth Schofield, the founder and editor of fashionscollective.com. Elizabeth spoke to us about how she came about to start her own popular fashion blog. She has only recently left her full time job and is now earning her income completely by herself through her consultant work.

Elizabeth talked about how she came to a decision about her career; and I personally found this very reassuring because I can relate to it. She has a mixed set of skills and interests which could never really fit into any one job profile but today, being the editor of fashionscollective, she has that opportunity to utilize all of her skills and knowledge to work on something she is truly passionate about.

Although her website does not earn her any money, she explained to us that it is extremely vital to gain the exposure that she needs for her consultation jobs. Knowledge is the main product rather than anything else that they offer to the public. She also spoke about the fashion industry lagging in the digital world in terms of marketing and advertising, especially the luxury brands.

Meeting a successful entrepreneur like Elizabeth, who never really intended to be one when she started off, was a very informative experience. It is reassuring in the sense that even if you don't start off with the idea of being an entrepreneur right out of school, there is still a chance to be a successful one even with a late start.