01. SRB “Changed My Life” w/ Seth Godin

Full episode NOW LIVE (See below)!

Introduction

Seth Godin was one of my heroes growing up - I’m serious, I had his action figure (see below).

Imagine my surprise when I learned, just this year, that he founded one of the historic student-run business programs called Tufts Student Resources (TSR) in Cambridge.

Seth, this global phenom, serial entrepreneur, author with 20+ best sellers, and one of a small group of global, wise influencers is one of us!

His background is in marketing: Seth founded what he calls the first internet marketing company, and he has been innovating in the space since he was a teen. But he’s more than that. Seth has been a one-of-a-kind leader for decades, offering balanced wisdom, thoughful advice and surprising insights to aspiring founders, freelancers, changemakers and business progressionals.

I couldn’t have been more happy to spend an hour with Seth, exploring his experience with student-run businesses, how they shaped him personally, and gathering his specific advice for our members (students, staff, faculty, and more).

We’ll be launching this full conversation at SRBA Expo24 with teasers before-hand.

When it comes out, be sure to take a look - you’ll be challenged, entertained and surprised.

Let me know what you think!

Owen Raisch
President, SRBA
September, 2024

—-

Seth turned down a gigantic compensation packages (~$1bil in stock options alone), because he had other ideas . . .

Seth shares stories that can only come from life as a student founder

As the President of the Student-Run business Association (SRBA), I had the privilege of diving deep into Seth's journey, from his early days at Tufts University to his innovative projects and the principles that guide his work today. This blog post captures the essence of our conversation, offering valuable lessons for students, educators, and administrators alike.

The Early Days: Tufts Student Resources (TSR)

Seth Godin's journey began at Tufts University, where he took over the struggling Tufts Student Resources (TSR). This experience was pivotal, teaching him the essence of entrepreneurship and problem-solving. TSR was more than just a student organization; it was a laboratory for innovation, offering services ranging from a snack bar to a bagel delivery service.

"TSR changed my life. It was a great laboratory for a lot of us. We started a snack bar, a ticket agency, a travel service, a bagel at night in the dorm service, a coffee shop, a concert bureau, a birthday cake service. Every week or two, I would start something new," said Seth.

Key Lessons from TSR

1. Think Like an Entrepreneur: Seth emphasized the importance of thinking like an entrepreneur, solving interesting problems, and scaling operations without getting bogged down in daily tasks.
   "I realized if we were gonna have a typing service, I couldn't do the typing because I don't scale that way."
   
   
   

2. Fail Forward: TSR taught Seth the value of failure as a learning tool. He encouraged students to view their ventures as projects with a beginning, middle, and end, rather than permanent businesses.
   "The biggest message that I have for the people who are watching this is... if you're running the student-run business, you should fail and fail and learn and fail."
   
   
   

3. Generative Value: The focus should be on creating generative value—solutions that benefit everyone involved. TSR's various ventures aimed to solve genuine student problems, creating a win-win situation.
   "We could pay these students who were at eight o'clock at night double the minimum wage. Everybody comes out ahead."
   
   
   

The Role of Administrators

Seth provided valuable insights into the role of administrators in supporting student-run businesses. He likened their role to building roads that last a long time, while allowing buildings (businesses) to be swapped in and out as needed.

"You're building roads that are going to be around for a very long time. And you've got to be comfortable swapping in and out buildings."

Creating a Sustainable Model

To ensure the sustainability of student-run businesses, Seth suggested a structured yet flexible approach:

1. Cohorts and Challenges: Organize students into cohorts, challenge them to create original business plans, and provide minimal resources to get started.
   "I would figure out how to get 50 people into a cohort, run some orientation for them, and figure out how they could write original business plans."

2. Safe Failures: Create an environment where failure is safe and encouraged. If a business fails, no harm is done; if it succeeds, students gain valuable experience and recognition.
   "If it doesn't work, no one will know. And if it does work, you get all the credit."
   
   
   

Projects Over Jobs

Seth's career trajectory exemplifies the power of focusing on projects rather than traditional jobs. After TSR, he pursued business school at Stanford, not to learn, but to secure a bridge to entrepreneurship. This mindset of project-based work guided him throughout his career.

"I love doing projects. If I get someone to pay me to do projects going forward, I will work for anybody who will do that."

A Message to Students and Educators

Seth concluded the interview with a powerful message to students and educators, emphasizing the importance of embracing creativity, taking risks, and viewing education as a platform for experimentation and growth.

"If you can learn to do projects, it doesn't matter what the world throws at you. There's always going to be an interesting problem to solve."

Conclusion

Our conversation with Seth Godin illuminated the transformative potential of student-run businesses. By fostering an environment that encourages experimentation, values failure as a learning tool, and prioritizes generative value, educational institutions can unlock the full potential of their students. Seth's journey from TSR to becoming a successful entrepreneur offers a roadmap for students and educators aiming to make a lasting impact.

Relevant Reference Materials

1. Books by Seth Godin:

• Purple Cow: Transform Your Business by Being Remarkable

• Linchpin: Are You Indispensable?

• Tribes: We Need You to Lead Us - My personal favorite!

• The Dip: A Little Book That Teaches You When to Quit (and When to Stick)

• This is Marketing: You Can’t Be Seen Until You Learn To See

• The Practice: Shipping Creative Work

• This Is Strategy: Make Better Plans
  
  
  

2. Articles and Essays:

• Godin, S. (2012). Stop Stealing Dreams. Available at: Stop Stealing Dreams

• Godin, S. (2010). The Bootstrapper's Bible. Available at: The Bootstrapper's Bible
  
  
  

3. Websites:

• Seth's Blog - Reaching more than 1 million readers with daily posts from Seth
  
  
  

4. Podcasts:

• Akimbo: A Podcast from Seth Godin
   
  
  

5. Videos:

• TED Talk: Seth Godin - The tribes we lead. -> This talk is based on my favorite of Seth’s books, called Tribes. Highly recommended.

• TED Talk: Seth Godin: How to Get Your Ideas to Spread -> Seth’s most-watched TED Talk with nearly 8 million views

• TEDxYouth@BFS: Seth Godin - Stop Stealing Dreams -> From our conversation, Seth shares his thoughts on the history, challenges and potential of education. The insights in here can’t be beat and are proven right every day.
  
  
  

Call to Action

If you're inspired by Seth's insights, consider getting involved with the Student-Run Business Association (SRBA). Whether you're a student, educator, or administrator, there are countless opportunities to make a difference through student-run businesses. Visit the SRBA to learn more and get started today!

FULL EPISODE BELOW: