Opening a business and setting personal hours and wages may sound like the easy life. But many who have gone through the ups and downs of starting a small business, including ISU alumni, say being an entrepreneur involves a great deal of time and hard work.

Michael Morris, visiting professor from Syracuse University and the 2006-07 Dean Helen LeBaron Hilton Endowed Chair, defines entrepreneurship in his own way. In a lecture for the College of Human Sciences in September, he said entrepreneurship is the process of creating value by bringing together a unique combination of resources to exploit an opportunity.

He also discussed the lesson of learning to be comfortable taking risks, a sentiment some ISU alumni getting into the business world may share.

“[Morris] talked about how entrepreneurs take calculated risks, weighing both positives and negatives before making a decision,” said Allyson Walter, ISU alumna and owner of The Savvy Shopper, 310 Main St. “It’s taking a risk, but not a blind risk; you have to know what your options are.”

Walter opened the boutique in March of 2003 after having entrepreneurial experiences all over the country. She recommends the business-savvy skills Morris spoke on to students who are interested in entrepreneurship because she believes that students should have training in diverse types of jobs – small, independent, large, corporate – before entering the entrepreneurial world.

Walter said another key to the career world is networking. She said it is always good to have those in your life who can help mentor you.

Currently, Walter employs six ISU students – all apparel merchandising, design and production majors – in addition to offering internships.

Allison Niksich, senior in apparel merchandising, design and production, was one of Walter’s merchandising interns during the summer of 2005 and is one of her current employees at The Savvy Shopper.

“We have meetings, talk about problems and how to solve them, do promotions and implement them into the company,” Niksich said. “I feel like I have a really good idea of what it feels like to be an entrepreneur.”

To Wendell Mosby, another alumnus of Iowa State, the key to establishing a business isn’t all in the people you know, but in the passion you have for what you’re starting. Mosby, a 2001 graduate in the apparel merchandising, design and production program, also received a minor in entrepreneurial studies.

Beginning his venture while still in high school in the town of Chicago Heights, Ill., Mosby created Wimp Wear Phations, a clothing store inspired by his childhood nickname for being small and fair-skinned.

The process of starting his company, Mosby said, was a labor of love, and created his business with the intention of having fun line with substance.

“Remain focused and insulate yourself with positive people,” Mosby said.

For those not as far along in their business ventures as Mosby, however, Walter said surrounding yourself with the right people is a good place to start.

“The key is learning what you’re comfortable with and who you can rely on to help you,” Walter said.