Zach Quinn and Brian Keller already have learned Rule One about building a business.
Break the rules.
Quinn, 20, and Keller, 19, are sophomores in Jay Ebben's Foundations of Entrepreneurship course at the University of St. Thomas. As he does every semester, Ebben issued his fall 2012 students his Lemonade Stand challenge. Team up and get to work creating a brand built on the lemonade-stand model, including a business plan and revenue stream.
You have three months.
"You're asking us to do what?" most students ask Ebben. "This is the first course undergraduates take as they consider building a business from scratch," he said. That's why he advises them to think small.
Quinn and Keller didn't listen.
Inspired by the altruistic buy-one-give-one model created by TOMS Shoes founder Blake Mycoskie (www.toms.com), Quinn and Keller looked up instead of down. They designed a line of 100 percent cotton hats for kids undergoing treatment for cancer.
"We talked to hospitals and found out that people donate big boxes of hats for kids, but they don't always fit," Quinn said. "We wanted to design a product that anyone can wear." And feel really good wearing. They envisioned hats in fun, bright colors -- turquoise and violet, forest green and gold.