Experiences of Successful Center Directors - Baylor University

■ What are the strengths and weaknesses of my team, my
community and my university?
■ Where can we add value in outreach?
■ Where can we develop competence in research?
■ What curriculum exists, and how will we integrate entrepreneurship
into it?
■ Using your team and advisory board, develop:
■ Vision Statement
■ Mission Statement
■ Goals
■ Strategic Plan with Action Steps
■ Raise money.
■ Develop a governance structure which allows you to avoid
red tape and bureaucracy.
■ Successful programs recruit a committed champion to direct the center. A
number of schools are following the lead of the University of Colorado at
Boulder and hiring a non-Ph.D. as director. The director does not teach or
engage in research, although he or she may facilitate both.
■ The director gains the support of the dean, president and board of trustees.
■ Successful programs have the support of the academic community, specifically
of faculty throughout the school and across various areas of the university.
■ The director accomplishes much of his/her work by developing a team of
entrepreneurs, faculty and students who will work to make this a reality.
■ The director develops a board of advisors to give input on start-up and
management.
■ The most successful directors have practical experience in the entrepreneurship
area. Starting a center or program is akin to starting a business,
and, therefore, all of the entrepreneurial skills apply.
■ The director should use alumni as a base of support, as funding sources
and as guest speakers.
BEST PRACTICES IN FUNDING
■ Successful programs have three sources of funds:
■ Endowment: Don’t try to run your program on a shoestring. You will
always be hustling for money instead of teaching, researching and
helping entrepreneurs.
■ Grants and contracts
■ Outreach programs
30