August 2007 Issue

AUGUST 2007

Premier Issue “Workin’ Hard and Lovin’ It” Youth Entrepreneurs of Kansas

Growing My Own College Education NFIB Young Entrepreneur Foundation n

Mooo-ving Forward Marketplace for Kids

$2.50 US

WHERE IS YOUR INVENTION TAKING YOU?

www.YoungInventorsHub.com

August 2007 In This Issue… 4 Learning Hard Lessons NFTE

5 Standing with Hope National Museum of Education

6 Urban Hip IL Institute for Entrepreneurship Ed.

8 Ask GoVenture MediaSpark

9 “Workin’ Hard and Lovin’ It” Youth Entrepreneurs of Kansas

10 Passion 11 Real Property…Real Benefits Buchholz Entrepreneurship Academy

13 My Summer Startup YEABiz/Utah State Office of Education

14 Tea for Who? 15 Growing My Own College Education NFIB Young Entrepreneur Foundation

16 These Kids Mean Business PBS Special — August 30, 2007

19 Making A House A Home Home Builders Institute

20 Planning…To Get Ahead 21 NEW Ideas National Entrepreneurship Week 2008

22 Name Game 23 Mooo-ving Forward Marketplace for Kids

24 Emily’s Advice 25 Have A Dream? DECA, Inc.

26 Inventorpreneurship 27 Taking Charge Prominent Youth, Inc.

28 More Than Marshmallows National Council on Economic Ed.

29 Out of the Park NY REAL

31 Our Sponsors

For Tomorrow’s Leaders Today! The Consortium for Entrepreneurship Education has been providing leadership for over 25 years. Our primary focus has been assisting instructors, which has been quite successful, but we still felt something was missing…and that something was direct communication with the students. Knowing that “experience is the best teacher”, we decided that who better to communicate with potential young entrepreneurs than young entrepreneurs themselves! Thus, Future CEO Stars was born. Our mission is to create a monthly publication that features successful young entrepreneurs from Consortium member organizations…designed to generate the entrepreneurial mind-set! Each issue has feature articles dedicated to stories written by students that tell the secrets of their entrepreneurial success. Our hope is that this magazine will motivate, educate, and stimulate young people to follow their examples and chase their own dream. Founder of National Entrepreneurship Week, the Consortium for Entrepreneurship Education is a non-profit collaborative representing 90+ member organizations from national, state and local levels. Together we represent over 40,000 teachers and more than two million students. Our common bond is the philosophy that “to be successful in the emergence of a new global marketplace, entrepreneurship education should be a critical component of the overall education experience as a lifelong learning process.” We invite readers to meet the Consortium members at: www.entre-ed.org/_contact Learn about the Young Inventors Hub at: www.younginventorshub.com

Join us!

Published by The Consortium for Entrepreneurship Education 1601 W Fifth Ave. #199 Columbus, OH 43212 www.entre-ed.org [email protected] Publisher: Dr. Cathy Ashmore Editor: Michael Ashmore Graphic Design: MediaSpark Inc. Graphic Artist: Jeff MacNeil Publishing Advisors: Soorena Salari, Young Inventors Hub Al Abney, Consortium Advisory Council Annual Subscription Available - $25.00 Contact: [email protected]

Learning Hard Lessons BY MICHAEL SIMMONS

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was a sixteen-year-old, high school junior when I co-founded Princeton Web solutions with my best friend. It was 1998, the internet was the Wild West, and we were spurred on by stories in magazines of young people who became millionaires ‘overnight’. Most businesses had an unprofessional web page at best, and we knew that every business would be online in the future. It was an opportunity made in heaven! My friend and I learned how to design web pages via the internet and ‘how-to’ books, and spent only $70 to set up our web site. We hit the ground running with our first client—a company that found us while searching Yahoo. The contract was for $1,000! The next few years were both exciting and turbulent. We formed a partnership with another company and went to Chamber of Commerce events to get clients. We increased the price of our service to $100/hour and outsourced our contracts to a web development company in India that did all of the work for us at $25/hour. By our senior year, we had made over $50,000 and were named by YoungBiz Magazine as the top youth-run web development business in the country. Unfortunately though, the winning streak did not last forever. We lost almost all of our clients when the dotcom bubble burst, and we were cheated for $15,000 by a 38-year old CEO we brought on to help with the company. In the end, during our freshman year in college, my partner and I decided to close the company down. You could say we failed. Or could you? Actually, starting and running my own business was the best investment I ever made. I am still an entrepreneur. I have a life filled with passion, purpose, and prosperity, working full time on a new company called the Extreme Entrepreneurship Tour (www.extremetour.org). We have seven people working with us. I get to travel the country doing what I believe in. We’ve been recognized by Business Week as one of the top 25 entrepreneurs under 25, and in USA Today, the AOL homepage, ABC, NBC, and CBS. The best advice I can give is to…Start a business today. Whether it succeeds or fails, it will probably be the best investment you make and the best experience you have.

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Future CEO Stars

August 2007

©iStockphoto.com, Andreea Manciu

Michael Simmons and partner Sheena Lindahl.

“Standing with Hope” BY GAY EVANS

Grayson with his award-winning invention.

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nvention and innovation, key elements of many entrepreneurs’ success stories, require thinking out of the box. Well, Grayson Rosenberger, this year’s winner of Sealed Air Corporation’s first Bubble Wrap® Competition, actually used what

Grayson in Ghana. people throw away with it. Grayson ingeniously substituted Bubble Wrap® for very expensive prosthetic leg covers. By shaping Bubble Wrap® with a heat gun, Future CEO Stars

August 2007

he created “muscle like” shapes around the artificial limb’s traditional metal rods. Who would use Bubble Wrap® instead of the standard covers typically seen in the US? Many citizens of Ghana, Africa would and are grateful for it too. Grayson’s father’s organization, “Standing With Hope”, works with Ghana’s government to provide artificial limbs for its citizens who can’t afford them otherwise. Although they can walk with these limbs, they are still looked upon as outcasts due to their unnatural look. Prosthetic covers typically cost $1,000 or more and are unfortunately out of the question. Grayson’s solution is a practical, effective, and cost-efficient way to not only give Ghana’s amputee’s mobility, but also return their self esteem.

Pretty amazing for a 15 year old! It only goes to show that it is never too early to start working toward your future. The National Museum of Education is proud to have developed and administered the Bubble Wrap® Competition. It will now be an annual contest, with the due date for this year, on Thursday, November 1, 2007. This is only the beginning of many creative efforts for students grades 5-8. Check the website at www.nmoe.org for further details.

Grayson’s father and mother, who lost both of her legs in a car accident as a teenager, say they are astounded by Grayson’s ingenuity and his winning of the $10,000 savings bond given as first prize for Sealed Air’s annual competition.

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©iStockphoto.com, Lisa McDonald

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Urban Hip BY ANGELA ROBINSON

y name is Angela Robinson and I am the CEO of Aqutie Wear 12, a fashion design company in the Greater Chicago area. I have always been interested in designing my own fashions. In fact, I have been drawing and building a portfolio since I was 12. I figured it would be fun to run my own company and create my own line. After years of carrying around my portfolio, I entered Mr. Steward’s class in November of 06’ and got my chance. Scott Steward, in my opinion, is the best entrepreneurship teacher at the School of Entrepreneurship, on Chicago’s southeast side. He encouraged me to interview for the Illinois Institute for Entrepreneurship Education’s (IIEE) E-After School Program. The IIEE E-After School Program helped me actualize my business and guided me through many of the challenges facing a new business owner. After going through the program, I was soon able to start designing and creating custom tee shirts. They sold so well at our school expo that I was soon receiving orders and the next thing I knew I was hosting my own school fashion show. One thing led to another to the point where I am now being mentored by Erika and Monica Simmons of the renowned Double Stitch Clothing Co. Also my teacher has introduced me to a manufacturer that currently works with many well known hip-hop clothing lines. My designs are not only growing in popularity, and putting money in my pocket, but have also helped me in other ways. I was a finalist in the spring break business plan competition and took 3rd place in the annual city wide competition. In May, I attended the IIEE Youth Entrepreneurship Conference for three days at the Lincolnshire Marriott. I was selected to compete in their Advanced Business Plan and Expo Competitions with students from all over the country.

Angela shows her designs at the Institute’s competition.

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line. I’m so excited because I’m actually hosting my first large fashion show next month at the Chicago Urban League. Although things are happening fast for me now, it took a lot of work to get here. My advice to anyone with a dream is to go for it, but remember your dream may take time to develop. It doesn’t happen overnight, especially in the fashion industry. You have to do a lot of networking and sometimes it feels like it is never ending. Also, look for resources and circulate your business in your community first. This really helped me to keep operating capital coming in. You have to always put school first, and then concentrate on your business.

The Illinois Institute for Entrepreneurship Education provides teacher training and youth Entrepreneurship support throughout the state of Illinois. Their 2nd annual Youth Entrepreneurship Conference will be held May 1 -3 of 08’ in Lincolnshire IL. For more information or to enroll go to www.iiee.org or call Kandi at (312) 587-9296.

I am very excited about my future. I plan to attend Spellman College in Georgia, major in Law or English, and minor in fashion design. In a lot of ways Atlanta is a long way from inner city Chicago but I know with the work I have done to prepare, I am ready. You can contact me at [email protected] www.aqutiewear12.com

Running a business is a challenge and it keeps me extremely busy. On a weekly basis I have to juggle my obligations with the Local School Council, Junior Leadership Team, the Sew-Sew sewing club, school and business organizations like IIEE. It’s all paying off and custom orders are already pouring in for my fall Future CEO Stars

August 2007

What’s Your Idea? Do you want to get your story in this magazine? How about a chance to WIN FREE STUFF? We know that sometimes students make the best teachers. Gaining knowledge off another’s experience is so much better than trying to learn from reading a boring old text book. And that’s why we want to hear your stories!! Do you have a product, invention, or business idea that you know the world needs? Or a story of pure success? Well…let us hear it!

We want to print your stories in this magazine! For your effort you could win prizes including magazine subscriptions, cash, or even the Grand Prize of a trip for two to the ‘08 National Consortium for Entrepreneurship Education Forum (location to be determined in November 07) to receiverecognition for your achievement.

Sound Good? What are you waiting for? All we need is 300 to 500 words telling your story. Here’s some of the information we’re looking for: * What is your GREAT Business Idea? * How do you plan to tell the world about it (Marketing Plan)? * What problem are you solving? * How do you plan to get the money you need to make it happen? * Would there be any problems in making it happen?

No idea is too big, or too crazy! Big Dreams Lead To Big Results! We look forward to reading and sharing your future success story, so get started! Also remember that all submissions could be printed so don’t share anything that you want to keep to yourself. Our goal is to help make your plan a reality, not to spoil your competitive edge. If you want to keep it secret, keep it to yourself until you have a patent, copyright, or trademark. Send your story, name, grade, school, and home address to Mike Ashmore, editor of “Future CEO Stars” at [email protected] (please use the words “Student Submission” in the subject line) or mail it to Consortium for Entrepreneurship Education, 1601 W Fifth Ave. #199, Columbus, OH 43212.

Ask GoVenture

“

My friends and I are about to go into business together. Any advice?

Yes! First, clearly establish each person’s role in the company by assigning responsibilities and expectations, and what the consequences are for not meeting them. Write this down on paper in as clear language as possible for all the business partners to sign. This is not because you don’t trust your partners — if you didn’t trust each other you wouldn’t be going into business together! Do it for two reasons: first, make sure there hasn’t been any miscommunication, which frequently occurs in such instances. And second, do it to make sure that if a partner cannot fulfill his or

”

her role — either because of personal choice or for reasons beyond his or her control — that there is a clear way to dissolve their interest in the company. The first shares of the new company (called “founders’ shares”) and stock options should be structured so that they are allocated based upon each partner’s future performance. For example, what happens if a partner is given 30 percent of the company’s shares upon incorporation but that partner decides to leave the company a week later? You’ll stay friends longer if you have it on paper up front.

GoVenture Activity 1

2

5

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ACROSS: 4. Borrowed amount, excluding interest 5. Fee charged to borrow money 8. Lender 10. Type of financing 12. Type of investor

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7 8 9 10 11 12

Top 10 advertising slogans Slogan

Company

1. Diamonds are forever 2. Just do it 3. The pause that refreshes 4. Tastes great, less filling 5. We try harder 6. Good to the last drop 7. Breakfast of champions 8. Does she, or doesn’t she? 9. When it rains it pours 10. Where’s the beef?

DeBeers Nike Coca-Cola Miller Lite Avis Maxwell House Wheaties Clairol Morton Salt Wendy’s

As selected by the editors of Advertising Age.

About GoVenture GoVenture is a line of award-winning educational games and simulations, including software, board games, mobile games, website, books, and more. GoVenture educational games and simulations offer the fastest, most effective and fun learning experiences ever! Similar to how pilots train using flight simulators, highly visual and realistic GoVenture programs enable youth and adults to gain years of business, money and life experience in minutes.

Business Financing

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FAST FACTS

DOWN: 1. Type of plan you should develop before seeking financing 2. Net Income 3. Another type of financing 6. Possibility of loss 7. Working 9. Startup financing 11. Cash

Become the CEO of a virtual business, a stockbroker trading on a virtual exchange, or navigate your way through the next 50 virtual years of your financial future. More than just fun and learning, GoVenture provides an experience that enables you to realize your potential, both in terms of what is possible and the wisdom of how to make it happen. GoVenture is used in homes, schools, universities, and businesses throughout North America and around the world. Visit the GoVenture for many more free resources!

website

Across 4. Principal, 5. Interest, 8. Bank, 10. Equity, 12. Angel Down 1. Business, 2. Profit, 3. Debt, 6. Risk, 7. Capital, 9. Seed, 11. Flow

www.goventure.net

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Future CEO Stars

August 2007

“Workin’ Hard and Lovin’ It” BY JASON BAYLESS

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absolutely love being an entrepreneur. Few career paths offer the freedom that comes with being the purveyor of your own successful enterprise. In my quest for knowledge I discovered that traditional education provides a lot of useful information but nothing can replace actual experience.

With my 64 page magazine in hand I was in business, or so I thought. In my first week I was hit with major bad news. My largest client, who provided me with 20 pages of listings, had decided to drop me. This was my first shot at real success and failure was not an option. It took a little time, and a lot of effort, but like a true entrepreneur I hit the streets to fill the void that this potential disaster created.

My first taste of entrepreneurship came my senior year in high school when Jason and his son, Cohen, hard at work. I enrolled in an Entrepreneurship class sponsored by Youth Entrepreneurs For my class project I created an on line of Kansas (YEK). This class opened wedding planner business. It was such my eyes to career paths I never knew a success that not only did I win first existed. Free enterprise where anyone in the city in YEK’s annual competition, can buy, sell and create value for profit, but I also was able to partner with an what a concept! I was hooked from the actual web designer to create a fully funcfirst day. tioning site that is still in business today

Secrets of Success • Sell, Sell, Sell: It may take several attempts but persistence pays off. • Create Value: if you are not creating value for your customers they do not need you. • Sincerity & Integrity: Make sure you’re honest with your customers and work hard on their behalf. There is no better advertising than word of mouth.

Future CEO Stars

August 2007

(WichitaWeddings.com). I didn’t realize it then, but I now know YEK taught me the critical basics that I definitely needed in my future success. Soon after I completed my college education, by keeping my entrepreneurial eyes open, I found my first opportunity. A local franchise named The Real Estate Book, a magazine used to sell houses, was for sale so I checked it out to find out why. It appeared to me that the publication had grown stale and the owners hadn’t kept up with market changes created by the computer age. I knew from my YEK days that all this business needed was some Entrepreneurial hustle so I went for it.

Through continued effort, my company did more than merely bounce back. We have expanded to a 72 page publication and growing. Also, in keeping with the market trend that made this company available to me in the first place, we now provide our clients with extensive online exposure unmatched in our area. If you dream of becoming an entrepreneur, and you work hard enough, an opportunity will present itself. When you decide to chase your dream you will work harder and longer than you knew you could. The funny thing is, you really won’t mind and in fact you will find it hard to imagine doing anything else.

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©iStockphoto.com, Bülent Gültek

Passion W

hen people talk about being an entrepreneur you hear the word “passion” thrown around a lot. “You have to have a passion for it”, or “my passion for what I do is my driving force”, are common statements used by successful business owners but what do they really mean? Could someone actually be “passionate” about being an accountant or a mini mart owner? How about passion for waste removal? Could that really exist? Could someone really love picking up other people’s trash? Most likely not. Often times the passion is for one particular element of the whole entrepreneurial picture. It’s not that the accountant dreams of balance sheets but more likely enjoys working with numbers. The mini mart owner probably likes interacting with lots of different people more than constantly restocking shelves and the waste removal “tycoon” is probably very concerned with the environment. Of course, passion is not always the reason one chooses a particular livelihood. Often times a person’s career path is dictated by economic need, available resources, or experience. Kids in Oklahoma rarely grow up with the dream of becoming a crab boat owner in the Bering Sea. Doesn’t it seem to reason though if you could choose a career based around something you truly love you will be a happier person? This is

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one of the great advantages of learning about entrepreneurship early in life. You have time to discover, define, and develop your true passion. So, what do you love? Are you a musician, an artist, a class clown, a writer, or an athlete? Do you spend time solving puzzles, talking on the phone, or creating your own clothes? What can you do for hours on end and never be bored? The answers to these kinds of questions can steer you toward a very fulfilling and successful career. A person doesn’t have to work at a job they hate just to be able to afford to do the things they love in their off hours. It may take a lot of work, creative thinking, and overcoming of obstacles to create a career path out of your passion, but it happens every day. There are other types of passion that motivate entrepreneurs beyond those that are directly involved with the specific function of their chosen path. Maybe the accountant really loves the freedom that comes with being the boss. It could be that the mini mart owner truly is passionate about having the power to control what is in his or her store, and our waste removal tycoon might just be passionate about making lots of money. The bottom line is this: entrepreneurs typically spend a great part of their lives doing what they do, so it definitely helps to love at least part of it. Passion is a powerful motivator, what is yours? Future CEO Stars

August 2007

Real Property – Real Benefits BY ERIC HUNT

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ike many high school students I wasn’t exactly sure what my future held but I knew it would include college. While checking out my options I came upon the Academy of Entrepreneurship program at Buchholz High School, in Gainesville, Florida and decided it was for me. I was immediately taken with the freedom and excitement of being my own boss. This sounded like my path so I threw myself into it full force. In fact, I was so into it that I became the program’s vice president my junior year and CEO my senior. This experience opened my eyes to what my future really could be. Both through the program itself and the inspirational lessons I learned from my teacher, Dianne Lauramoore, I can’t say enough about how valuable it was. I know it’s an over-used expression but this program changed my life. Even though I was taken with the entrepreneurial spirit early on, I still continued

on to college. I didn’t look at entrepreneurship as an alternative to higher education; on the contrary, it was just the supplement necessary to make my college experience exactly what I needed. While continuing my pursuit of a public relations degree, I also acquired my real estate license on the side, an action I attribute directly to the Academy’s influence. In 2003 the opportunity arose for me to put my degree, license, knowledge, and experience from Buchholz to work. My grandmother, the owner of a real estate agency, wanted to retire. Due to my efforts I was ready to take over and knew I could handle it. I immediately incorporated a new website (www.RealtyResourceGnv.com), local television, and real estate publications into the marketing strategy of my new company and it has paid off quickly! In 4 short years I have become a multimillion dollar producer with my future, here in Florida, looking sunnier every day. The Academy of Entrepreneurship at Buchholz High was the start of it all. It helped me grow in ways I didn’t know were possible. If you have the opportunity to get involved in an entrepreneurship program , don’t hesitate. Even if it isn’t your ultimate educational goal, it will enhance whatever path you choose in remarkable ways. It did for me and it can for you!

Eric Hunt breaking new ground.

Eric Hunt and his sign of success.

Future CEO Stars

August 2007

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My Summer Startup BY IAN ANDERSON

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have always wanted to start my own business. I thought that it would just somehow happen when I was an adult. Until recently, I didn’t realize I could get started during my high school years. In my mind, it just wasn’t a possibility that I had imagined. Well, I signed up for a program called YEA Biz, and suddenly got my chance. YEA Biz did a lot more than just teach me about the basics of being involved in a business start-up. Of course we covered a lot of that, but the program also opened my eyes to many of the business possibilities that are available to me right now. Before YEA Biz, I would look at a dirty carpet, and if I even noticed it, I would just think somebody needed to clean it. I certainly wouldn’t have seen it as an opportunity to put cash in my pocket. It’s funny how an experience can change your perspective. As Brian Acord, my YEA Biz Advisor, helped me devise my business plan for this program, I just couldn’t help but think of all the possibilities. Even though it seemed I had a lot of potential opportunities, when it came right down to it, I was nervous about choosing one. It’s kind of scary to pick a business to commit your efforts to, knowing that it might not be successful. I finally got over my fear and found one that I believed had the most potential for me, steam cleaning. Cleaning carpets may not seem exciting to most people, but for me it’s now just like picking cash up off the floor. Looking back on the night before I was to present my business plan to my YEA Biz mentors, I was pretty stressed. I remember that it was a late and frustrating night. All the ideas were there but I just couldn’t seem to put them down on

Future CEO Stars

August 2007

paper. Pitching a business plan isn’t exactly something I am used to doing. As I am sure most people my age understand it’s just a little outside of my comfort zone. Regardless of how I felt, I knew the outcome would be well worth it, so I did my best to finish it up. Presentation day was considerably more valuable than I could have ever imagined. I Ian Anderson, Carpet Cleaning CEO knew it was my chance to pitch my idea to business people that could help make it a reality. What I didn’t For more information on YEA Biz go to know was how valuable listening to the www.yeabiz.com or ideas and feedback of people that had www.blog.yeabiz.com. “been there and done that” could be. The This article sponsored by the Utah State amount of information was overwhelmOffice of Education. ing. I couldn’t believe how quickly they had brought up so many thoughts and ideas to improve my business in the little time they spent talking about it. I felt I was in the company of some of the most business savvy minds in Utah. I gathered loads of extremely helpful information and I couldn’t wait to get started! This information gave me the confidence I needed to know I would succeed. In one week I would be the owner of my very own thriving business, Stansbury Steamer.

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Tea For Who? I

magine being in high school and dreaming of owning your own business. Could it become a reality? It did for two sister Future Business Leaders of America (FBLA) members who have recently launched their new company, Flea Tea, Ltd. Julia La Roche, 18, and her sister Caroline La Roche, 17, were the winners of the Invention Showcase sponsored by the Electronic Retailing Association (ERA), in partnership with FBLA-PBL and sponsor Koeppel Direct. Both were members of FBLA at Fuqua School in Farmville, Virginia, and are on their way to success as they launch their new business. Since winning the Invention Showcase’s $20,000 grand prize, the sister team has incorporated with Julia serving as the chief executive officer and Caroline as the president. “The process for becoming an incorporated business varies by state,” Julia said. “We became incorporated by applying to the Virginia State Corporation

Commission and we received our corporate charter. Next, we got a tax I.D. number and then we became incorporated.” “Flea Tea is an herbal and mineral remedy bath tea made of a dozen ingredients from three different continents, and it is uniquely packaged in a large tea bag.” Julia said. “It safely and effectively kills fleas on cats and dogs without harmful side effects.” “We are currently marketing our product locally. Right now we have a Web site, www. fleatea.com. Hopefully, we will be able to expand soon.” The sister team is also business savvy—investing the $20,000 in a money-market account in hopes of making more in the future with Flea Tea.

Julie and Caroline backstage at Montel.

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They credit their cat Priscilla as the impetus for their product. “My

sister and I were inspired by our love of animals. We wanted to provide pets with something that was useful and necessary that was not on the market,” said Julia. While Priscilla is enjoying her flea-free life, these inventors and young business leaders have gained national attention after a recent taping for the Montel Williams Show. The show topic, “Young Kids with Big Ideas,” aired this past season. “Appearing on the Montel Williams Show was an incredible experience. When I first received the phone call, I was in disbelief,” Julia said. “I believe making an appearance on the show will help increase awareness about our product.” “We are proud of Julia and Caroline’s accomplishments,” said Jean M. Buckley, FBLA-PBL, Inc. president and CEO. “These young ladies are true examples of future business leaders and reflect the vision, mission, and values of our association.” According to Julia “If other FBLA members and young adults have an idea, I encourage them to go ahead, pursue it, and make it a reality. Also, it is extremely important that parents and advisers are supportive of kids’ ideas.”

Future CEO Stars

August 2007

Growing My Own College Education BY JOE PASCARETTA

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hat do lawn care, software design, and wolverines have in common? Me, I’m Joe Pascaretta, cofounder of ALPS Lawn Care, ALPS Technology International, and a full time student at The University of Michigan. To say that I stay busy is an understatement. It doesn’t bother me though, because being able to handle everything going on in my life, through effective time management, is an entrepreneurial skill I developed early on.

Our peers thought no one would purchase our services since we were so young. In the preliminary stages of establishing Alps, I sent an email to Aaron saying, “You build a website and I will sell the template and consulting services.” The overhead was very low for a start-up company. Because of our youth, we had to do something different from the competition, so we narrowed our profit margin, and offered incentives such as 24/7 customer support, complementary consulting services, I have always had a passion for followand flexible finance options. That, along ing companies and learning from their with our great founders. Biogproducts and raphies, annual Secrets of Success services, drove reports, and Alps into what 1. Manage your time well; if you don’t news stories it is today. If we it will manage you. taught me a lot would have lisabout traits I am 2. Don’t listen to detractors tened to other now glad I have. because they don’t understand your people’s adMy objects of vice, Alps and passion or how an entrepreneur particular interour successful thinks. est included joint ventures the founders of 3. Research those that were would have Oracle, Cisco, successful before you. It is cheaper never been esand Hewlett to learn from others’ failures than tablished. Packard. What to make the same mistakes. I learned from We began Alps this “hobby” has as a website been invaluable and spurred me on to development company, providing reinvesting my income to the successful Internet solutions to local companies. We business we have today. also invested in a landscape contractor and horticultural service company. In 1999 my friend Aaron Dowen and Beginning with a single commercial I were fascinated with computers and lawn mower, The Alps Lawn Company is for fun learned software and computer one of Michigan’s most prestigious programming. At the age of 11 we horticultural management companies. We developed our first website. When we now service over 60 residential and comreceived positive response due to the mercial properties, experienced a 239% professionalism of the site, we decided growth spurt last year, and grossed over 1 to enter the website development market. million dollars.

Future CEO Stars

August 2007

Mowing Joe! I discovered that it is difficult to be taken seriously in business when you are still young. I didn’t let this stop me though. In fact, it motivated me to break through this age/image barrier and prove that in fact, I know what I am talking about, and can do what I claim. I never have let detractors slow me down. There will always be people who try to discourage risk taking. Of course, they don’t think like entrepreneurs and can’t see the benefit of facing the challenge. Facing fear head on is the only way I know to conquer it, so that’s what I do. The benefits reaped from being an entrepreneur are substantial. Of course having a successful business, or two, is fantastic, no doubt about it. In reality, that would probably be enough for me, but I have been fortunate enough to receive even more. I am a recipient of the NFIB’s Young Entrepreneur Foundation’s Young Entrepreneur Award. Not only did this give me recognition that I am definitely doing the right thing, I also received $5,000 for college in the bargain. It’s a long way from an 11 year old with a lawnmower and it just goes to show it’s never too early to get started.

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“A

lot of kids would like to start their own business of one kind or another, but they don’t know how. Most schools don’t teach it.” So says Clarence Page, Pulitzer Prize-winning columnist for the Chicago Tribune and essayist of THESE KIDS MEAN BUSINES$. Centered on budding entrepreneurs across the country and the programs created to foster their interest and understanding of the free market, this documentary tells the tale of underserved youth creating and living their own versions of the American success story. In the course of the documentary, viewers meet young entrepreneurs such as Eric and Derrick, 16-year-old twins in urban Milwaukee, as they promote their thriving lawn-care business; Laima, age 16, who makes sure her Web site development company in New York City doesn’t sacrifice good design and aesthetics for the latest special effects; and, west of the Blue Ridge Mountains, David Lawson of Wise County, Virginia, who began converting six acres of his family property to a vineyard after completing a high school entrepreneurship class several years ago.

These Kids Mean Busines$ Premiering on PBS Thursday, August 30, 2007 10:00-11:00 p.m. ET (check local listings)

“There might be opportunities outside of just getting to college and working for somebody. I’ve always wanted to be able to work for myself and be my own boss, but I wasn’t sure exactly how I could do that.” say’s David Lawson. David’s elective entrepreneurship class was through an organization called Rural Entrepreneurship through Action Learning, otherwise known as REAL. “This class was a good introduction for me to realize that it’s not so complicated in some respects to start your own business.” The stories in the documentary come from many parts of the country: Milwaukee, Wisconsin; South Los Angeles, California; Miami, Florida; Nashville, Tennessee; Chicago, Illinois; Wise County, Virginia; and New York City, New York. Among the organizations featured in the program are the National Foundation for Teaching Entrepreneurship, REAL Enterprises, Center for Teaching Entrepreneurship, Entrenuity, and the C. E. O. Academy. Academic experts interviewed in the documentary comment on their extensive

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Eric and Derrick working for their future.

For Entrepreneurial ideas, check out www.thesekidsmeanbusiness.org

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August 2007

research, which indicates that entrepreneurship education has a positive effect on the academic performance of at-risk students — as well as affecting attitude and behavior. Featured scholars are Andrew B. Hahn, Ph.D., Professor, Heller School for Social Policy and Management at Brandeis University; and Howard S. Rasheed, Ph.D., Associate Professor, Cameron School of Business, University of North Carolina at Wilmington.

REAL’s David Lawson in his vineyard.

“Entrepreneurship projects are, first and foremost, experiential education; they fill a vacuum that many young people feel that they need,” says Professor Hahn. “And they’re voting with their feet. They’re leaving school in droves, if you look at the dropout rate. And the principal reason for the dropout rate, according to research we and others have done, is that kids just don’t like the regimentation for school. And they’re crying out for experiential learning opportunities.” “What we are trying to do with Youth Entrepreneurship is bridge the gap. Teach life long skills, understanding the business concepts and economic processes, so that they can create, as opposed to be part of, a work force,” comments Dr. Rasheed. “So we’re not really training students to become consumers, or employees. We’re training them to be employers, and economic creators.”

Narrator Clarence Page with NFTE students.

THESE KIDS MEAN BUSINES$ is a production of the Corporation for Educational Radio and Television (CERT). Essayist: Clarence Page. Award-winning Producer and director: Zach Richter. Director of Photography: Naftali Larish.

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August 2007

In addition, life-long educator Rudy Crew, superintendent of Miami-Dade County Public Schools, talks about his plans to include entrepreneurship education as part of his secondary school reform policy. “We’re realizing that Miami Public Schools is the centerpiece of the economy for this entire region,” says Dr. Crew. “And to that extent, entrepreneurship has to be a part of the curriculum. We really do believe that how students make sense out of their world, how they actualize and realize their own dreams and goals by being participants in that world at an early age, all have a lot to do with their ability to be very successful later in life.” Clarence Page concludes THESE KIDS MEAN BUSINES$: “Even if these ambitious young entrepreneurs don’t launch their own company right away, they walk away with skills, values and experiences that can help them in other ways for the rest of their lives.”

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Future CEO Stars

August 2007

Making a House a Home Earn $200 While You Learn BY C. DEANNA LEWIS, HOME BUILDERS INSTITUTE

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pron, blankets, cap, collar and ribbon – are these construction terms? Definitely! My next question? How often have you watched a single home or an entire housing development spring up in a neighborhood and not give a lot of thought to what it takes to construct a home? Take a few minutes to think about how it happens and who makes it happen. There are over 100 occupations that contribute to building the house that you call home. Houses – come in all sizes, shapes and colors. Who does the work? Take a look behind the scenes. Have you ever thought about becoming a builder? Do you want to become someone who initiates or finances a new commercial enterprise? Do you want to assume the responsibility and the risk for a business operation with the expectation of making a profit? If you answer yes, you have captured the entrepreneurial spirit…more specifically, the entrepreneurial spirit necessary to enter the construction industry. Perhaps you are not ready to build a house, but something on a smaller scale, such as a playhouse, is definitely an option. Can you meet that challenge? Think about it! You can go into business by yourself or form a partnership with your classmates. With the right tools, you can construct your career path to join an exciting industry that is also financially rewarding. With the right tools you can build a career path that will open the door to owning your own business. Construction offers more opportunities than most other industries for individuals who want to own and run their own business. It is an ideal business for entrepreneurship!

Future CEO Stars

August 2007

Glossary Apron - A trim board that is installed beneath a window sill. Blankets - Fiber-glass or rock-wool insulation that comes in long rolls 15 or 23 inches wide. Cap - The upper member of a column, pilaster, door cornice, molding, or fireplace.

©iStockphoto.com, Alex Slobodkin

Collar - Preformed flange placed over a vent pipe to seal the roofing above the vent pipe opening. Also called a vent sleeve. Ribbon (girt) - Normally a 1x4 board let into the studs horizontally to support the ceiling or second-floor joists. Source: www.HomeBuildingManual.com

Education class. Win $200 for your Entrepreneur It’s exciting, it’s fun, it’s challenging!

ideal (play)house. Enter the Business Design, build, market and sell your e ction Industry’s Show of Homes. Hom Ventures in the Residential Constru the in d buil , now Plan awards in 2007. Builders Institute (HBI) will make 25 1, er emb Dec is e dlin today – your dea fall. Submit your intent to participate via tion rma info g win to send the follo 2007. Here’s how. Ask your teacher 2-266-8999) to C. Deanna Lewis: (20 fax or rg) email ([email protected] 1) Name and address of school ne and/or email 2) Teacher’s name, department, pho ners if applicable) 3) Student’s name (names of all part ciation, builder, contractor, etc. 4) Participation of a Home Builder Asso to teacher will receive a detailed easy When your entr y is submitted your den Resi the Business Ventures in the follow step-by-step format for entering be will Homes. Pictures of the winners tial Construction Industry’s Show of website at www.buildingcareers.org. posted on the HBI Career Services

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Planning … To Get Ahead Do you remember “grown ups” asking you, when you were young, “What are you going to be when you grow up?” So, do you have a real answer for that question yet? Let’s face it, there aren’t a lot of positions available in the want ads for astronauts, runway models, cowboys, millionaires or presidents. It really is very important to plan where your life takes you, especially if being satisfied with what you do, or in other words “being happy”, means anything. Think about it. Do you think the person who delivers portable outhouses aspired to one day hold that position? It’s possible that they did, if they previously held the job of the person who had to clean them out, but odds are pretty good that neither of those “lofty positions” required much planning. The person who planned

in that company is the one who hired someone to do the dirty work so they could keep their own hands clean. Older people love to declare about how fast time flies. Unfortunately, even though it may not seem like it during some classes, study hall, or detention, they are right. Those who don’t plan for their future tend to be directed by their circumstances. Yes, someone has to clean out the portable outhouses of the world, but do you really want it to be you? Okay, so if planning is important, the next question is, what can you do about it? Well, a good place to start is to take a real good look at what you like and don’t like right now. Of course, careers in sleeping, playing video games, eating and generally doing nothing don’t pay all that well so you need to look beyond the obvious. Which classes interest you most? What hobbies do you enjoy? What are your interests? What do you look forward to doing (besides sleeping, playing video games…etc, etc)? JK Rowling loved to journal when she was young, Bill Gates was a total computer geek before computers could do anything, and it is a safe bet that Oprah has always loved to talk. Focusing on what you really like seems like a “no brainer” but there are a lot of steps to be taken between enjoying something and making it pay off. To keep them straight and know your next move it is best to have a formal (that means written) plan. This plan needs to be flexible enough to adapt to changes beyond your control yet firm enough that it clearly lines out the path to success. There are tons of books on how to create a great plan, but that is beyond what we are talking about here. The important part to remember is that you can’t build a solid plan on a weak foundation, so really knowing what you really like is critical. This requires looking at all aspects that would go into making your interest a profession. Time is short so plan now. Focus on what you like in life and be sure to examine it closely. As the old saying goes, “those that fail to plan, plan to fail”.

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Future CEO Stars

August 2007

” ? W E N s “What’ How many times a day do you hear this question?

So do you have NEW Ideas?

So how do you usually respond to it?

Many NEW Ideas start small, some merely with a dream, a thought, or a problem that needs solving.

If you’re like most people you probably say something along the lines of “Not much, what’s new with you?”

Michael Dell didn’t know that putting together computer components in his garage would make him a billionaire one day.

Well, there is now a better answer.

Bill Bowerman was just trying to make a better running shoe for his University of Oregon track team when he used his waffle iron at home and created the first NIKE running shoe.

“New” is National Entrepreneurship Week, celebrated Feb. 23 thru March 1, 2008 This annual week long celebration features successful entrepreneurs as well as education programs providing experiences designed to encourage entrepreneurial thinking nationwide. NOW is the time to get ready for NEW, and in the process, start creating your future.

Henry Ford tried to come up with a more efficient way to build a car. Although his company failed three times, he finally got the model T right. Do you have a NEW idea? Maybe it’s time to make it a reality. Get involved with National Entrepreneurship Week in your area TODAY! For more information go to:

www.nationalEweek.com

Feb 23 to Mar 1, 2008

Most often, a successful business name has at least one of the following characteristics: ™ It’s memorable ™ It communicates its purpose or focus ™ It’s meaningful ™ It attracts attention or is catchy ™ It’s unique ™ It’s 4-8 letters or short enough to fit on one line of a business card ™ It identifies the owners

CHALLENGE:

All of the boxes below contain the names of real ventures. Think of at least 3 possible businesses that could have each name. (The real business purposes are listed at the bottom of the page.) 1.

ASSETS

2.

The Cat’s Pajamas

6.

5.

Lids

3.

4

Good Wheels

Old Mule

7.

ReStore Chasing the Dream

10. 9.

e.e. cats

4.

Snip Its 8.

The Chop Shop

EXTRA CHALLENGES:

1. Grade each business A-F on the effectiveness of its name. Justify your grade. 2. Come up with a better name for each type of business. Answers: 1. Builders 2. Baseball Caps 3. Towing Service 4. Children’s Haircuts 5. Catsitting Service 6. Used Car Sales 7. Car Detailing 8. Barber 9. Entrepreneurship Education, Creativity Applications, Teaching Strategy Consultants 10. Youth Entrepreneurship Camp From Chase the Dream! ©Delaware Financial Literacy Institute

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[email protected]

Future CEO Stars

August 2007

Mooo-ving Foward BY LACY FRIESTAD

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eing born just five miles from each other in rural North Dakota, Tyler Lang and Kari Heaton aren’t strangers to the farm and ranch life. Tyler’s family has been ranching since 1906, mainly focusing on Simmental Cattle, while Kari’s family raises the Black Angus breed. When the two ended up in the same Agribusiness class at Bismarck State College, they decided to pair up to create a business plan, never thinking it would win a state competition. Were they ever wrong! Tyler and Kari’s business plan, H & L Feedlot, took the grand prize of $3,000 in the Business Opportunity and Self-Employment Search (B.O.S.S.) Business Plan Competition, held at Marketplace for Entrepreneurs in January, 2007. “B.O.S.S. encourages all students to consider self employment, to start an enterprise or to commercialize an idea or innovation,” said U.S. Senator Kent Conrad and North Dakota Agriculture Commissioner Roger Johnson, the Organizing Sponsors of Marketplace for Entrepreneurs. “Learning to write business plans helps young people exercise their creativity and develop critical thinking and organizational skills, the very skills they will need most, no matter what their future occupation.” Over twenty teams from colleges and universities in North Dakota and Minnesota competed in the B.O.S.S. Competition. Tyler and Kari were surprised at their win, because they are students at a two-year college, and were competing against teams from four-year universities. The competition consisted

Future CEO Stars

August 2007

Kari and Tyler at their feedlot.

of an oral round and an elevator round, and Tyler and Kari had their business plan well prepared. “We may have won because our plan would help the whole state, and the feedlot would employ about 15 people,” Tyler said.

do it for yourself,” Kari says. “Even if it seems like a far-fetched idea, go for it,” says Tyler.

H & L Feedlot is still a work in progress, with the cost of land and materials a setback, but Tyler and Kari are determined to succeed. Tyler even used his winnings to add to his growing herd of cattle. “The key is to not do something because someone else wants you to do it, but to

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Emily’s Advice W

e are pleased to introduce Emily the Entrepreneur’s Advice Column. Emily, actually, is a group of several business educators and entrepreneurs that have agreed to field your questions. They represent over 125 years collective experience. Therefore if you can think of it, they have probably been through it.

Q

Q&A

So what do you want to know? No question is too simple or too challenging! This is your opportunity to ask those questions that you have been wondering about or could make or break your business.. Submit your questions to [email protected]

Dear Emily: What exactly does the word “entrepreneur” mean and where did it come from? Sincerely, “Bemused and Confused”

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Dear Bemused: An entrepreneur (a loanword from French introduced and first defined by the Irish economist Richard Cantillon) is a person who undertakes and operates a new enterprise or venture and assumes some accountability for the inherent risks. According to David Gladstone in his book: Venture Capital Investing, “The term entrepreneur has undergone a change in meaning since the late 1800s, when it was used to refer to the “director or manager of a public musical institution” (see The Oxford Universal Dictionary). Entrepreneur derives the French verb entreprendre (to undertake), which, however, had already entered English many years earlier in the form of enterprise, from enterpris, the past participle of entreprendre. Enterprise first appeared around 1430 and was commonly used to refer to an undertaking of bold and arduous nature. The person carrying out the enterprise was known as the enterpriser but eventually lost ground to entrepreneur, the primary meaning of which became “one who organizes, manages and assumes the risk of a business or enterprises.”

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Future CEO Stars

August 2007

Entrepreneurship events available through DECA include: • Entrepreneurship Promotion Project

Have a Dream? DECA Can Take You There BY MICHELLE WALKER, PH.D. AND JOE WITTNEBEN

• Learn and Earn Project • Internet Marketing Business Plan Event • Entrepreneurship Written Event • International Business Plan Event • Entrepreneurship Participating Event

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ow does it feel to be recognized as one of the top high school students in the world in entrepreneurship? Ask finalists of DECA’s Business Management and Entrepreneurship Events how it feels. Exhilarating, rewarding, and worthwhile might be some of the words that come up, but a more common response is, “You just can’t understand unless you’re there.” There actually means everywhere. In classrooms from Puerto Rico to Germany, in all fifty states, and in its division on college campuses, DECA’s 180,000 members have more opportunities to diversify their entrepreneurship education than any other student organization. Why? Participation in DECA sponsored events incorporates multiple business strategies into each project. It’s all there. Marketing, public relations, finance, and technology are essential to every budding entrepreneur and, therefore, to each business plan that members create. Specific events allow members to focus on special interest areas like designing a new business in an international setting, creating a new internet-based business, promoting entrepreneurship to the general public, or tracking and analyzing store products and promotions.

direction there is for you, DECA can be a guide. This year, DECA members will attend leadership conferences in great cities like Atlanta, Boston, San Antonio, and Seattle, with many more held at the state and district level. At these conferences, members have the opportunity to unveil their hard work, share ideas with other members, and get sound advice from business professionals with years of experience in entrepreneurship. These trips are not the only avenue for realizing your goals. Success starts in the classroom and DECA’s co-curricular model allows young entrepreneurs ample opportunities to learn as students inside the classroom while they excel as DECA members everywhere else. To find out more about becoming a young entrepreneur as a member of DECA and participating in events that develop young entrepreneurs, visit www.DECA.org.

There can mean different things to each person – graduation, early retirement, opening day of your first business. Whichever Future CEO Stars

August 2007

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Inventorpreneurship W

ho do you think of when asked “who is the Father of Modern Electricity?” Thomas Edison, right? Well, Nikoli Tesla, the actual inventor of alternating current, might have had a little problem with that. What is the difference between these two great men? They both were geniuses when it came to invention but Edison was also an excellent Entrepreneur. His marketing skills, drive, amazing ability to acquire publicity, showmanship, knowledge of patent laws, and business savvy insured his place in history. There is no doubt that being a good inventor can be a very important part of becoming successful. Ingenuity and creativity are wonderful assets in their own right and certainly should not be discounted. Unfortunately a “Great Idea” is merely that if it never gets out of the inventor’s workshop. In reality some of the best inventions ever created have probably died with their inventor while, in the meantime, everyone knows what a Pocket Fisherman is. Of course you don’t have to invent anything to be a successful Entrepreneur, PT Barnum proved that, but if you’re an inventor it is probably wise to sharpen your Entrepreneurial Tools. Good inventions need to be protected, marketed, publicized, refined, manufactured, and promoted to become Great ones. Henry Ford didn’t invent the automobile but he knew how to get them to market. Bill Gates didn’t invent the computer but he sure did make them user friendly. PT Barnum didn’t invent anything but he certainly became famous selling “hum bug”. Have you ever heard of Vladimir Zworykin or Philo Farnsworth? Many credit them as the combination of inventors who invented Television, great Inventors with poor Entrepreneurial skills destined to fall off the pages of history.

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Future CEO Stars

August 2007

Taking Charge BY DAN KARR

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nnovative passion is the driving force behind this student-run organization. Society’s general consensus regarding the success of a high school student assumes that we will not find success in the business field until after college graduation. However, Prominent Youth, Inc. (PY) has created a fighting opposition to this status quo. My name is Daniel Karr and I am a recent graduate of Park Hill South High School, soon to be a freshman at Park University, majoring in International Business. By serving as the President of PY, I have learned how to change my interests into business profits. Prominent Youth, Inc. is a non-profit organization that pays students to create their own businesses with the help of guiding mentors trained in correlating fields. PY began in May 2005 with a small group of Kansas City, MO teens and mentors. The goal was to have students develop their own income stream by creating, developing and selling their own business ideas. PY partners believe that young adults do not have to wait until we finish our education to finally begin developing our passions. We have the capabilities and knowledge to find achievement now. All business professionals understand that it is an immensely competitive world – so PY is giving a headstart to America’s future leaders. In May 2007, PY held its second annual Trade Show and Job Fair in Kansas City, MO, planned by myself and the Vice President, Amanda Allison. Allison is a senior of Platte County R-III High School, and we worked together to organize this monumental event. Together, we initiated meetings as early as five months prior to the Trade Show to ensure that tasks were completed on time. We worked with a team of Administration and other PY students to delegate tasks for the entire organization of more than fifty students. Future CEO Stars

August 2007

Dan and Allison present a gift to Scott Beeson (Founder of PY). Also pictured are Alisha Russell and Heidi Pratt. With our combined efforts, we encouraged more than a dozen of PY’s student owned businesses to set up their own informational booths. Over 900 guests from around the community were invited. PY also recognized its 24 sponsors through advertisements and special booths. Jay Wolfe Toyota – Scion and Midway Ford also featured two of their newest car models. Jim Ferrell of Ferrellgas highlighted the evening’s events by serving as our guest speaker. Mr. Ferrell spoke of his personal business experiences in hopes of inspiring all guests that success in entrepreneurship takes ingenuity, diligence and passion.

Perseverance, organization and communication, according to Allison, are the hidden ideals that will guide any entrepreneur to accomplish his or her biggest aspirations. For more information, visit www.prominentyouth.com or call PY at (816) 550-5303.

Allison and I helped the Prominent Youth organization to apply Ferrell’s qualities in their efforts in their businesses. I believe that determination, passion and hard work are the secrets to business achievement.

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More Than Marshmallows! BY MOLLY MCINDOE

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hat did you do over the summer? I went to a week long camp and came home an actual entrepreneur. I have always been curious about what it would take to run my own business. In looking for something to do over my summer vacation I came across EntrePrep Summer Institute held at the Hebron Academy in Maine. It sounded like fun to me, so I thought I would give it a try. In the end I came away with a lot more than I ever thought I would; the camp was all about entrepreneurship education—learning it, seeing it, using it and applying it!

During the week, I attended seminars that taught me entrepreneurial skills, economic concepts, business planning, marketing, sales, advertising and opportunity cost and recognition. I participated in hands-on activities that helped me understand how the business world works. The last two days of the program involved launching and operating a business for one day and giving a presentation detailing the experience.

Secrets of success come from hands on experience: • Start your business with an open mind and be sure you are passionate about it • Talk to people about your idea, get feedback, find mentors • Always listen to what your customers say

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But it wasn’t all about being stuffed in a room all day listening to non-stop speakers—I actually got to experience Maine and open a business at the same time. I went canoeing, swam in a lake and also got to sneak in a trip to a movie. There was plenty of free time to chill out, Molly, on the right, discovered that even in roll down the grassy the rain, sales were brisk. hills, play basketball, work out in the gym or go to the library. On top of all of that, I came home with B as to sales location! Although we were great new friends and experiences that I basically rained out, our product was a hit with the other girls at the camp and will remember for a lifetime. we were able to sell all of our inventory. In this program I started a successful jewelry business with my best friend, craft- In the end, not only did we walk away ing handmade necklaces using marbles, with a profit, but we learned it is very beads and fabric. We were coached important to never assume anything. on the legal aspects of our business and Don’t start a business with unrealistic provided financial advice and funding expectations because, in the real world, it may not turn out perfectly or even close while being guided by mentors. to your expectations. This is the spirit Initially we were confident with our idea of entrepreneurship—you have to be and thought that it would be a piece of ready for anything. I now have a better cake, but we were very, very wrong. understanding of how the business Sourcing materials took longer than world works, and the skills to become a we expected. Mass production of our successful entrepreneur. My partner and product forced us to solicit help from I will be continuing the business back at others since we couldn’t afford a sewhome in North Carolina, since we now ing machine and ended up manually actually have some wholesale orders. making each necklace. Let’s just say we were up very late hand sewing necklaces and bracelets. Perhaps we could have spent more time scouting locations for the Grand Premier of our product line because on the morning of our ‘businessfor-a-day’ it was pouring rain and we were out in the middle of it! Time for Plan Future CEO Stars

August 2007

It’s Out of the Park! BY KIP DOYLE

Kristi Jo Webb (in pink jacket) and the other NYReal Goal Achievers outside of Stadium.

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hen it comes to achieving success, personally or in business, there is no trait more important than being goal-oriented. This was the lesson passed down from Michael Lastoria, a Fillmore, NY native, CEO and cofounder of Innovative Ads, a multimillion dollar advertising company, to a group of seven goal-achieving Allegany County, NY high school students. Last spring, after competing in a NYREAL marketing plan competition, successful students went on a Cattaraugus Allegany BOCES-sponsored field trip to New York City, where they met Mr. Lastoria, 26, at his offices. During the meeting, Mr. Lastoria made a challenge to the students: set concrete goals, write them down on paper, and achieve those goals by next year. If the students met them, they would be rewarded with a round trip to New York City to attend a Yankees game. Out of the 20-plus students, seven were able to reach their goals and attend the game on May 27th. Each made good on their goals, which included raising their grade point averages and being on the honor roll. The morning flight to JFK was the first-ever plane ride for Kristi-Jo Webb, who said she had been inspired by her previous meeting with Mr. Lastoria. “I was struggling a lot in almost all of my classes,” she said. “Now, I am almost at the top of my class.” Future CEO Stars

August 2007

At one time unsure of what she wanted to do after graduation, Miss Webb is now looking forward to college and a career in business thanks to her experiences with Mr. Lastoria and with NYREAL. “Mike inspired me in a lot of ways. Setting goals is part of what it takes to make a career,” she said. Seated behind home plate, the students witnessed top Yankees players like Alex Rodriguez and Derek Jeter take on the California Angels in the last game of a weekend series. Although a lifelong Cleveland Indians fan, Mr. Lastoria explained that the Yankees represent success, not just as a team, but as a company. As a star athlete in high school and college, Mr. Lastoria understands the similarities between achieving in sports and achieving as an entrepreneur, where both success and failure are often determined by work ethic. For more information, please go to www.nyreal.org.

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Does your class need money? Is your teacher looking for an effective way to raise funding for a class project? ©iStockphoto.com, Scott Hancock

Are you tired of selling cookies or candy? Do you want to avoid the hassle of having to deliver what you sell?

We have your solution! For more information have your teacher contact The Consortium for Entrepreneurship Education: [email protected]

The Consortium for Entrepreneurship Education is a qualified 501(c3) non profit corporation and, therefore follows all rules, laws, and requirements pertaining to maintaining this status.

Our Sponsors W

e would like to thank the sponsors of Future CEO Stars whose forward thinking, support, and generous contributions made this publication possible. It is organizations like these that keep your education focused, moving forward, challenging, and potentially profitable. To learn more about what they have to offer please feel free to visit their websites listed below.

When an organization really cares,

it shows!!!

Future CEO Stars

Appalachian Regional Commission

www.arc.gov

Buchholz High School

www.bhs.sbac.edu

The Coleman Foundation

www.colemanfoundation.org

DECA, Inc

www.deca.org

Home Builders Institute

www.hbi.org

Illinois Institute for Entrepreneurship Education

www.iiee.org

JA Worldwide

www.ja.org

Marketplace for Kids

www.marketplaceforkids.org

MediaSpark

www.mediaspark.com

National Council on Economic Education

www.ncee.net

National Museum of Education

www.nmoe.org

NFIB Young Entrepreneurs Foundation

www.nfib.com/yef

NFTE

www.nfte.com

NY REAL

www.nyreal.org

Prominent Youth, Inc.

www.prominentyouth.com

The University of Florida

www.cei.ufl.edu

Utah State Office of Education

www.schools.utah.gov

Youth Entrepreneurs of Kansas

www.yeks.org

Yourhomework.com

www.yourhomework.com

August 2007

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THE NFIB YOUNG ENTREPRENEUR FOUNDATION

Help kids get it.

The NFIB Young Entrepreneur Foundation provides FREE programs that allow teachers to equip students with the information they need to know to start their own companies. ENTREPRENEUR-IN-THE-CLASSROOM CURRICULUM Brings real-life stories of entrepreneurs into your classroom, letting students learn firsthand about the risks and rewards of operating a small business. TAKE TIME TO TEACH MENTORING PROGRAM The T3 program allows our NFIB members to share their wisdom with your students through real-world experience. JOHNNY MONEY - COMING SOON! This online simulation game lets kids expolore the risks and rewards of business ownership in an engaging platform perfect for class and homework assignments.

To download this FREE CURRICULUM or for more information, visit www.NFIB.com/eitc (800) 552-6342