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A group of BYU students is heading home from New York City after receiving a prestigious honor. The student efforts to start a new business has landed them on the front cover of a national magazine, beating out entries from the nation`s best business schools.
Inside a humble looking cinderblock building on Provo`s south side could be some of America`s rising business stars. Now gracing the cover of Fortune Magazine`s small business edition, employees of Property Solutions got a big surprise this week when friends started calling.
Ben Zimmer, Property Solutions: "She said one of her friends had already seen the cover and that we were on it."
Along with gracing the front cover of the magazine, the prize includes a 50-thousand dollar check, handed out in New York City.
The company started as part of a contest at BYU`s business school. An idea surfaced when founder David Bateman`s wife came home complaining about her job managing an apartment complex.
David Bateman, Property Solutions Founder:: "I looked at the list of things that were bothering her and realized that just about everything could be solved with a better piece of management software."
From that Bateman and his partners developed what`s become an online computer software package to help manage apartment complexes. The students, not all of whom have graduated, plan to re-invest their prize money in the company and use the national exposure to springboard into the property management marketplace.
Jeramy Morrill, Creative Director: "I think we`re just going to go up and up. I actually left a job, it seems like here it is such an opportunity"
Better yet, Property Solutions is already making a lot of money, but they say they are earning every penny they make.
David Bateman: "Hard work is what makes it happens. Everybody here has been very dedicated to the business."
Still, with a national award in hand these entrepreneurs are off to a great start. The company`s software is already being used by 45 companies in several states. Incidentally, the company`s founder is still 18 credit hours short from earning his degree from BYU.
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