SAC Presenters: Peter and Kim Schultz, Alumni Entrepreneurs
The Kettering Student Alumni Council welcomed alumni Peter and Kim Schultz to talk about their very interesting life journey, leading them to “living the dream”, owning their own business’s based in Traverse City. The duo met with about 50 students and faculty, taking them through their lives as corporate employees, their early entrepreneurial efforts, and the continued ventures they have embarked on. Peter explained that there was a specific moment in his life, where his attitude towards climbing the corporate ladder had completely changed. No longer excited by the upper management positions he saw himself working towards, Peter knew it was time to do something to make him be truly happy. Peter told the audience, “The first opportunity for me came in the form of jam, literally the jelly spread. I was skeptical, but after running the numbers, it was actually a very profitable business model!”
After deciding to drop everything they have known, the Schultz family moved to Traverse City, one of the most beautiful places in the Midwest, to grow their business. Peter went on to say, “We had a great community, a beautiful landscape, and I finally had the flexibility to spend more time with my kids.” Some important business concepts the group learned are summarized:
Don’t Hesitate to Borrow Ideas There are some great ideas that you might not have thought of, but this doesn’t mean you can pursue them and create a business around them. Just be sure your not infringing or have gotten approval if the ideas are protected!
Diversify Yourself The Schultz live in an area that is sustained by a lot of tourism, or seasonal business. To make sure you don’t fall into traps of debt, leverage other non-seasonal business ventures to create cash flow for the off-season.
A Closed Window Can Open A Door The couple experienced many setbacks as entrepreneurs, but explain that some of them have actually put them further ahead. Keep your head up in bad situations, and create strategies to get out.
Peter and Kim’s latest venture is Acts of Love Home Companions, an in-home care service. If you have any questions about the Peter and Kim Schmitz, or about Student Alumni Council, be sure to visit their website and get in touch.
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