Dan Medow is creating change through his chain of local community newspapers in S.E. Michigan.
"Everything I learned at the SBA, I've applied to my work life - the technology, the skills, the way I manage my business."
-Dan Medow, SBA '71
Lynn Jacob, SBA '81, who opened his Associated Packaging Inc. business in 1978, offers advice to those who dream of starting their own business. "Go with your gut hunches and never wonder what would have happened 'if', because when you're 75 or 80 years old looking in the mirror, it's too late."
Now, in addition to advice, he and his brother are offering students scholarship support to help them acquire the skills they need to start their own businesses.
For brothers Bruce and Lynn Jacob, who come from a long line of entrepreneurs, creating the Norman and Irene Jacob Endowed Scholarship is a way to honor their parents, as well as assist an Oakland student and future entrepreneur. Their great-grandfather was an early entrepreneur in Detroit, establishing M. Jacob & Sons, a packaging and bottle distribution company, 121 years ago. The business continues to be family-operated.
"Our mother had a teaching degree, and our father never went to college, but both believed strongly in education," said Lynn Jacob. A gift to help students learn how to create their own businesses reflects on his parents' values: "This is a meaningful way to honor them."
The Jacobs are donating $50,000 to endow a scholarship that will be awarded annually to an undergraduate SBA student. Applicants must submit a short essay about their interest in entrepreneurship.
"If a student wants to be an entrepreneur, and there's something they can learn from the educational system, by all means, I want to help them," said Lynn Jacob. "I learned everything by trial and error. So if a young person can pick up some knowledge and tips, and be better prepared to take the big leap of faith, the better off that person will be."
Bruce Jacob, D.P.M, is a podiatrist, but also spends time working at Associated Packaging with Lynn.
Dr. Jacob hopes the scholarship and Oakland education will help provide students with the knowledge they need to start their own businesses and inspire "something new, creative and innovative," he said.
-Lynn Jacob, SBA '81 Associated Packaging Inc.
My name is Marvin Stone. I am 53 years old. I am a graduate of Oakland University with a degree in Business Management. I currently own and operate 2 Ace Hardware stores. My family has been in this business since 1951 and I have been in this business all of my life. Being in business for yourself is an amazing and rewarding experience. The one thing that makes an entrepreneur different from most others is the fact that they acted on their desire. Many people want to be in or dream of being in business for themselves but they never act on their desire. To act on the desire is to create your dream. Study your discipline, plan, predict, anticipate your probability of success and then act. Your dreams can come true.
-Marvin Stone, BS Management Owner Ace Hardware