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http://thelink.concordia.ca
Students make their own way with online
magazine
Tuesday, January 21, 2003
by Janet Forest
One evening last fall two Concordia students, Artashes Toumanov (management)
and Jean-François Numainville (finance), were imagining what it would be
like to be a CEO of a corporation. This casual conversation inspired by an
article in Fortune Magazine has since evolved into something much bigger.
"In the middle of a hot discussion, the conversation suddenly stopped," said
Toumanov. "I proposed to start a business."
To help limit expenses they immediately turned to the internet. They soon
agreed on the idea of a "very exclusive, high-quality online magazine."
"Back in Russia I even started a degree in journalism at Moscow State
University," explained Toumanov, "but it was actually the business of that
science that was appealing to me."
Numainville said he always had an interest in writing even though he is
pursuing a degree in finance.
Just one day after Toumanov and Numainville decided to put their plan into
action, two other students joined their team: Mitra Thompson (journalism)
and Marc-André Trottier (computer science at Université de Montréal). Now
with four executives -- Toumanov as founder and publisher, Numainville as
editor-in-chief, Thompson as copy editor and Trottier as web publishing
director -- The Mind Magazine, a completely student-run business, began to
take shape.
The group launched their website on Nov. 21, which included contact
information and application forms for the available positions.
Since then, over 200 students sent in applications and questions hoping to
play a role in The Mind Magazine. While they will always be on the lookout
for new writers, the executive positions -- marketing director, public
relations director, advertising director, etc. -- are limited.
Once Toumanov's exams ended on Dec. 5, he spent 14 hours a day answering
questions and looking at applications.
Numainville emphasized that students don't need any experience to be
eligible. "[Students] don't need experience because we don't have
experience. We're looking for anybody that has interest and is curious."
Student-started businesses with university
assistance
Toumanov said some of their motivation came from the programs offered by
American universities. "Ivy League schools in the United States invest in
their business students, giving them a small capital to start something for
the same cause," explained Toumanov.
Harvard University holds an annual business plan contest in which
participants are eligible up to $1,000 reimbursment for starting expenses.
The first prize winner walks away with $10,000 -- regardless of whether he
or she pursues the plan or not! And the three runners-up each get $5,000.
Chemex, a laboratory-supply web market and 3plex.com, an internet
correspondent between truckers and carriers, were both runners-up in the
Harvard contest, and both are still prospering.
Crosskate, a company that markets all-terrain back country skates was a
runner-up as a similar contest at MIT, and was featured in Time Magazine
last year.
Other universties are offering even more than contests. Houghton College in
New York renovated a residential building into an incubator for
student-started businesses. The university gives students an office, phone
lines and other necessities for running their new businesses.
No money from Concordia
The Mind Magazine crew has saved on expenses by publishing online, but as
the saying goes, you need to spend money to make money.
As of yet Concordia does not have any programs that assist students in
starting a business, which means all expenses for The Mind Magazine have
come from their pockets. But Toumanov said he never looked to Concordia as a
source for funding because he would rather face the challenge alone.
"I mean, if we sit around and seek help it's exactly what's going to make us
weak as a business."
Already the new business has made its first partnership. HostMatix.com has
agreed to host a website which the magazine will have unlimited use of.
On their own
Toumanov, Numainville, Thompson and Trottier are not the first students to
start a business completely on their own. "Do a little research and you will
find out that some of the biggest corporations were born this way -- by
students at colleges and universities," said Toumanov.
This is what a little search on Google turned up.
• Three students at the University of California at Berkley noticed a demand
for an affordable delivery service on campus. Joined by three other students
they started Calsnack. Now, students don't have to walk 20 minutes to the
grocery store or pay $4 for a carton of milk on campus. The student business
is raking in $500 to $800 per day.
• Mike Stern and Peter Venech, students at Yale University, created Aquarium
Ventured, a financial firm that assists students in starting their own
businesses. They provide them with office space, services like human
resources and anything else a new business needs.
• Probably the most reknowned student-started success story is about David
Filo and Chih-Yuan "Jerry" Yang. The two Stanford University students
decided late one night to create a website directory for their classmates.
They called the directory "Yahoo."
Come one, come all
Like Stern and Venech, The Mind Magazine is also giving back to the student
community. Running the publication will require a combined effort of
students from all different departments, including computer science,
journalism, business and commerce.
Toumanov and Numainville also plan to have a very broad readership
demographic. The magazine will cover current events from a new perspective.
One story they are currently working on is about the significant amount of
water that is wasted because water pipes are in poor condition, and how this
affects droughts and water shortages during the summer.
Numainville said their journalistic mandate is to "shed new light on
[topics] that people know about."
Although they have set high standards for their content, their financial
goals are secondary. "It's for students to improve their self opinion and
talents," said Numainville. "It's not about getting money, it's about
getting credibility."
Toumanov believes this "company-experiment" is a great opportunity. "How
cool would a ‘marketing director' or a ‘custom projects director' look on a
résumé?"
Interviews began yesterday and the two hope to have a team selected by the
end of January.
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