The University of Michigan is rated #1 for entrepreneurship. We are so fortunate that Eric Fretz, professor of Entrepreneurship and Creativity, is on our forth episode of The Studentpreneur Show!

On this episode Taegan interviews Eric Fretz about the innovation stirring up at University of Michigan, tips for starting a business while in college, and character traits of successful people.

While this is an episode on entrepreneurship and creativity you need to listen to in full, here are a few take aways from our time with Professor Fretz:

The success of the overarching Innovate Blue program that spans across the entire campus.

Innovate Blue offers both breadth and depth and cultivates the entrepreneurial spirit of students across all fields. Professor Fretz  has the opportunity of interacting with every single student earning the minor, which is one branch of Innovate Blue. Of these students he has seen over 20 students start businesses that have been incorporated. These businesses range in focus from energy drinks to tutoring, including a laser toaster!

The benefit and beginnings of the Entrepreneurship minor.

Professor Fretz was part of the founding team of this minor and has been teaching the core course of this minor, Entrepreneurship and Creativity, since the beginning four years ago. In his class students learn about creativity, team work, and leadership. He also offers them an unlimited opportunity to explore ideas during this course.

We also learn about Eric’s non-traditional background that led him to business.

He has a dual PhD in psychology and education, has started businesses and non-profits and retired from the Navy.

Success stories of his students and trending traits of successful business people.

His experience follows the research on this topic. Business leaders who are great team members and have low agreeableness are often among the most successful.

His top tip for starting a business while in college is dual-sided.

Professor Fretz shares: don’t be afraid to test your ideas. On the flip side know that you’re going to fail, but failure is simply part of the process.

In addition to the great advice above, Eric leaves us with one of the best pieces of advice. You have to listen to the end to find out!

Listen to the full episode HERE!