YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
In high school, Jordan Schanda was a motivated student. Some might have even called her a nerd.
When it came time to apply for college in 2008, that drive paid off. The Forsyth native racked up $50,000 in scholarships to the University of Arkansas.
But she looks back on that stressful time with regrets and wished she could have done things better.
“We decided to start writing down all the lessons I learned,” Schanda said.
What began as a helpful guide for her younger brother turned into a comprehensive organizer to guide families through the college application and scholarship process.
“We accidentally started a company,” she said of ScholarPrep, the joint venture with her mom, Christina, who has previously served on scholarship review boards.
Five years later, the company became profitable selling organizers and providing online courses to 300 families in 42 states and several countries. Schanda said she also expanded products to include custom scholarship lists.
She declined to disclose the company’s revenue but said sales jumped 325 percent last year.
“There were some weeks and months and years where I was pretty much working two full-time jobs,” said Schanda, who also worked as a sustainability coordinator at Missouri State University.
The mom and daughter duo self-financed the company with help from friends and family.
“It took more time just because it was just me self-teaching all of this information,” she said. “I think it really comes down to persistence … people wanted it, so we made it.”
And now, it’s time for another big change.
Schanda said she landed her dream job with The Association for the Advancement of Sustainability in Higher Education, and she decided to sell the company.
“I could just kind of keep it where it is and that would be OK, or I could give it to someone who would grow it,” she said. “I’m seeing the potential but know I’m not the person to get it there.”
It’s bittersweet, she said. When Schanda started the company, she didn’t make a plan for the future but expected one day a choice like this would come.
“There’s been times where I thought I want to build this business and that’s what I want to do full time,” she said. “But AASHE is where my passion is.”
By month’s end, she plans to have interviewed six vetted, potential buyers.
And she’s not just looking for the highest bidder.
“I want to know what their vision is for how they’ll use their products and the brand itself,” she said. “I’m not just selling an email list.”
Even with a dream role in the bag, she’s can’t completely shake that entrepreneurial spirit.
Schanda said she’ll likely start another business in the future.
“There were big stretches of time where I was not getting very much sleep ... spending 16-plus hours a day working,” she said. “I am very excited to take a bit of a hiatus.”
Guest columnist Donnie Brawner says many entrepreneurs stray from their original business ventures, which is often a recipe for success.
