by Luc Wagner ‘11, MBA in Global Management
Vic Cherubini of epic software, inc. recently wrote a flattering piece about hiring me as an intern when I was 16 years old. Vic had graduated from the University of Houston with his MBA and, having written the business plan while in school, set out to redesign the way people used catalogs — he felt they should be interactive and not simply one-sided. With the advent of the web, it turns out he was right, and epic moved into web design — a natural progression from interactive catalogs. From the beginning, Vic foresaw that interns were going to become a necessary requirement to success in a rapidly-changing technology environment. Therefore, he built it into his business model from the ground up.
Any small business counselor will tell you that one of the most common mistakes that entrepreneurs do when creating a business plan is to downplay the idea of hiring people. The mental rationale goes something like this: “With limited resources, limited time, and plenty of adrenaline, who needs people cluttering up the business?” It neglects to consider a time when a battle-weary entrepreneur, long having lost his adrenaline buzz, comes to work each day even more behind than the last. He will work harder and harder, sometimes all seven days, until it seems to be impossible to continue. He simply burns out.
I would like to encourage anyone who might be traveling down that same path while constructing his or her own business plan to consider hiring an intern.
There are so many things that interns can do much better than entrepreneurs can, like maintenance tasks. How many entrepreneurs enjoy logging QuickBooks entries or counting inventory? In the example of Vic, his business model required cutting-edge technology and cutting-edge creativity. He realized, early on, that he could not personally be on the edge of tech, production, strategy, compliance, and accounting all at once. Vic tells me his interns put passion into the projects they are assigned, they help him stay current with the latest trends, and they give the company an overall creative edge when it comes to handling skeptical execs who want to be “wowed” by the results coming from his modest North Houston studio.
The stumbling block for entrepreneurs hiring interns is typically because they either don’t want to manage people or that they don’t want to manage people — especially younger people. Even in Vic’s report of me at 16 years old, he coyly jokes that I was so brilliant that I “reprogrammed the computer” in a way that he “didn’t appreciate”. While I am a little hazy on the details of that, it certainly makes a good story — at least, it impressed my wife.
When I have done consulting for small businesses about their operations, when appropriate, I have suggested bringing interns into the mix. The way I explain it is like this: interns are a way to leverage talent that is in the process of becoming great. It is a gloriously inefficient market and you will strike out a few times — sure, you will have some bad interns. I have certainly had my share of terrible interns. However, you will also find some amazing talent. One of my interns I hired straight from college and taught how to run operations is now Vice President of Operations at a Fortune 500 company. How great was it to be able to utilize his talents at a such a reasonable rate? For my company at the time, it was the difference between being in the red and being in the black. I was able to bring the start-up company to profitability within mere months.
My late grandfather used to say that the young were “full of beans”, connoting that they are filled with life, vigor, and energy, but that they also use that energy toward foolish things. I wasn’t exempt from it, nor was Vic, nor have been the interns we both have hired in our seventeen years since we worked together, however, hiring an intern is generally win-win. You’re giving your enterprise new skills, you’re giving your intern new skills, and you might even learn a thing or two, as well.