August 2008 Issue

August 2008 $2.50 US

FUTURE CEO STARS In This Issue Entrepreneurial Drive

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Future CEO Stars In This Issue… 5 My “Master” Plan NFTE, Inc. 7 Rising Stars in Ohio Ohio Dept. of Education 8 Extreme Social Entrepreneur NY REAL 11 Change Today..... University of Florida 13 Kaileigh Kirton National Museum of Education 14 Incubating Success Réseau des CJE du Québec 17 Ask GoVenture Media Spark 19 The Fab Five NCEE 20 Entrepreneurial Edge Il Institute for Entrepreneurship Ed 21 What Did You “REALLY” Say? 23 Marketplace Talent Search Marketplace for Kids 24 Minna Made It! NFIB YEF 27 Our Sponsors

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Celebrating Future CEO Stars! 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. Future CEO Stars is 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 100+ 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

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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: SPLASH Designs Publishing Advisors: Soorena Salari, Young Inventors Hub Al Abney, Consortium Advisory Council Annual Subscription Available - $25.00 Contact: [email protected]

Youth Leading Cooperative Enterprises By Danny Roy Translated by Josee Ann Cloutier Genevieve Ducharm, Danny Roy, Catherine Alaine-Sanche

©iStockphoto.com, martialwhite

Ever dream of accomplishing a goal or bringing an idea to life with a team of individuals who contribute their talents toward a common goal or vision? The cooperative movement in Québec is longstanding and an important thread in developing an economy based on values of mutual support and collaboration.

Teaching youth to participate in collectively-run youth projects is highly engaging and is made possible through the Fédération des coopératives québécoises en milieu scolaire- a partner of the Youth Entrepreneurship Challenge. To highlight an example of the many cooperative projects started in schools, youth from Montréal started, managed and put their democratic decision making skills into Toutifruits- an operation producing delicious smoothies! The guidance and support from their local Cooperative Entrepreneurship Awareness and Promotion Officer (CEAPO) led them through the various stages of the project’s development: choosing an idea, building an action plan, dividing tasks between group members and preparing follow up activities. The learning process brings to life the entrepreneurial qualities and skills necessar y to collectively run a group project and the CEAPO is a resource person who supports both the students and the teacher in incorporating cooperative skill building in a practical project.

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Toutifruits Youth Coop from Chomedey-de-Maisonneuve High School is made up of 15 students who struggled academically. For an entire school year, the students followed an entrepreneurship-based pedagogical model. They collectively decided that they wanted to offer the school community healthy snacks during breaks, so they started a cooperative ser ving fruit smoothies. A cooperative business framework allows for hands-on experimentation while developing the knowledge and experience needed to work with others harmoniously.

Before getting into action, the students questioned themselves on the values they wanted to project onto their working environment. With their CEAPO, they identified cooperative values such as solidarity and openness to others all the while learning about the cooperative enterprises. As in many coops, the tasks were divided between four different committees: accounting, marketing, finance, and production.

communicating without insulting others, listening and speaking in turn, offering constructive criticism and helping others express themselves.

The students admitted that prior to Toutifruits, they used to fight and argue much more. Now they are far more likely to talk things out with one another. Their teacher has commented on their increasing skills in assisting one another and asking each other questions. The important values and lessons learned from this project impact all aspects of the students’ lives and will ser ve them well in the future - personally, academically and in the work force. For most students, Youth Coop projects such as Toutifruits is a first time experience of working cooperatively in realizing a common goal.

Dividing the work between the committees helped to ensure the success of the project. Each student was a member of a committee and each committee made all decisions democratically. By following a cooperative organizational structure, the students learned business basics but based their work ethic on cooperative principles such as Future CEO Stars

August April 2008

Entrepreneurial Drive BY Ashley Smith

The A Team!!!!! A social entrepreneur is someone who measures their success based on how they have impacted society, someone who recognizes a social problem and decides to do something about it. It is not often that you find an extracurricular activity that allows you to go out in your community and really make a difference. When I was asked to be a member of our first Entrepreneurial Challenge team at Fillmore Central School and help put together a blood drive, the task interested me right away. I can honestly say that at first I had no idea what I was getting into. I knew that as a team we would be responsible for planning and putting on the drive ourselves, but I had no idea how much I would learn and grow as a result. As we began our planning, we were forced to think about what local businesses would be willing to do to help us out. Not only were we expected to talk to the people that we knew, but also the people that we didn’t know. For many of us, this was “out of our comfort-zone”, but we all found that the more people we talked with the more comfortable we became. We gathered plenty of donations, but our job wasn’t over yet. We were not only in charge of collecting the donations, we were also expected to put them all to use. As a group we put together a prize system so that each donor left Future CEO Stars

August 2008

not only satisfied by the three lives their blood would save, but also with a token of our appreciation for their effort. Another large task we had was the creation of a theme for our advertisements. We spent numerous lunchmeetings throwing out ideas until we finally decided on Mission: Possible. We knew that we could easily use this theme as the connecting thread between our print ads, our radio ad, and our video. We even ordered shirts that identified us as “Agents” so that we could be easily spotted at the blood drive.

I would also like to say that this experience will not only be useful to me if I decide to orchestrate a blood drive later in life, but with anything I do. Gathering information and opinions from community members and previous donors, using their ideas to make our blood drive more appealing, and reporting on the outcome of all of these things has taught me how much work is involved in running such an event and given me a glimpse of what work will be involved in starting or running a business later in life. Being a part of the Fillmore Entrepreneurship Challenge team has been a great opportunity to get hands-on experience in the business world.

Our blood drive went smoothly. We had twenty-seven donors and immense positive feedback. From the live entertainment to the fun facts we put up as décor, our blood drive was a hit. Our team left school early to set-up, ran the sign-in sheet, provided child-care, helped donors with their paperwork, and made sure to ask them what they thought while they were recovering. Overall, the day will stick out in my mind as a day when we really did something great for our community and a day when I learned that anyone who decides to make a difference in his or her community can do just that. Blood shortages are serious business and to be able to put on our own blood drive was an incredible experience.

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A New Spin on Pedaling..... Wares By Kelly Rapp RAGBRAI is an annual week long bike ride across Iowa. It was started in 1973 by two reporters from the Des Moines Register who wanted to find new stories across the state. Since then, it has grown into the largest bike ride in the world with over 10,000 riders. Many riding teams take old buses and create clever deck tops to carry their bikes. For many, RAGBRAI is a tradition where friends and families get together to enjoy a week of energizing riding, along with lots of delicious food and fun

I began by creating a plan. I decided it would help me to have a larger target market if more people came on our bus. To do this, I added an extra support vehicle with a trailer behind it which allowed more room on the bus for customers. I increased my market from 15 to 30 people. To promote the business I made a flyer and sent it to each team member. My first year, I purchased four tents with air mattresses and put up a total of 12 tents.

During the week of RAGBRAI we wake up at 5:30 and have tents down by 7:00. We load the trailer and drive to the next town. After finding a camp spot we unpack and pitch the tents then blow up air mattresses. By noon we are finished.

. My first three years of RAGBRAI were spent riding along side my dad with our team, Team White Bus. After three years I decided to work for one of the larger charter groups and help them with their tent service. We had over 70 tents to set up and take down everyday. The year I worked for them consisted of long hours, hard work, and low pay. Although this was not one of my most memorable experiences, I benefited by learning the business.

After RAGBRAI is over, I check the tents and air mattresses and make sure they are ready for next year before storing them for the winter. My business benefits me greatly because I have more freedom, opportunity, networks and knowledge from experiences. I have made wonderful friends from all over the USA.

In school I have taken many business classes including Marketing and Sales, Introduction to Business, Accounting, Sports and Entertainment Marketing, Keyboarding, and Business Applications. With help from these classes and my dad’s business knowledge and experience I decided to end my employment with the charter company and start my own tent business.

Future CEO Stars

August 2008

I am very busy in school with soccer, volunteering and being student body president of my high school so this job allows me to make my spending money during the summer. This year my business grew 33%. I also hired two friends to help. I love working for myself. Yes, I have more risk but the profit and benefit have been much greater. I would tell anyone who wants to go into business to “Go For It”.

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Audience The more you know about your audience, the better you will be able to understand their problems and how to best satisfy their needs.

The Presentation Pitch List your strengths, especially those that distinguish you from your competition, and be able to explain them quickly. Use visuals to demonstrate specific points, and provide handouts for your audience. Wrap up the presentation by summarizing the key points, and outlining any action items that were discussed.

Clarify Assumptions What are you assuming about the prospect? Do they have money? Are they ready to buy today? Are they talking with your competitors? Preparation You may want to provide useful information prior to the meeting. If you’re sending materials in advance, make sure they are well-prepared and visually attractive.

Follow Up Even if your sales pitch is not immediately successful, stay in touch because conditions constantly change.

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Growing My Own College Education BY JOE PASCARETTA

W

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. I have always had a passion for following companies and learning from their founders. Biographies, annual reports, and news stories taught me a lot about traits I am now glad I have. My objects of particular interest included the founders of Oracle, Cisco, and Hewlett Packard. What I learned from this “hobby” has been invaluable and spurred me on to reinvesting my income to the successful business we have today. In 1999 my friend Aaron Dowen and I were fascinated with computers and for fun learned software and computer programming. At the age of 11 we developed our first website. When we received positive response due to the professionalism of the site, we decided to enter the website development market. 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 some-

Mowing Joe! thing different from the competition, so we narrowed our profit margin, and offered incentives such as 24/7 customer support, complementary consulting services, and flexible finance options. That, along with our great products and services, drove Alps into what it is today. If we would have listened to other people’s advice, Alps and our successful joint ventures would have never been established. We began Alps as a website development company, providing Internet solutions to local companies. We also invested in a landscape contractor and horticultural service company. Beginning with a single commercial lawn mower, The Alps Lawn Company is one of Michigan’s most prestigious horticultural management companies. We now service over 60 residential and commercial properties, experienced a 239% growth spurt last year, and grossed over 1 million dollars. 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.

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.

Secrets of Success 1. Manage your time well; if you don’t it will manage you. 2. Don’t listen to detractors because they don’t understand your passion or how an entrepreneur thinks. 3. Research those that were successful before you. It is cheaper to learn from others’ failures than

The benefits reaped from being an entrepreneur are substantial. Of course having a successful business, or two, is

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Learning to Earn By Christina Smith What type of business will it be? Will I need a loan? Buy or rent? Where will it be located? What will the name be? These are few of the many questions you have to ask yourself (and your business partners) when looking to be an entrepreneur. During our Leaders of Tomorrow business development series, I have learned a lot about how to plan and start a small business.

Every meeting we would come together with our business partners and work on developing our business. Dr. Graeme Edwards once said, “It’s not the plan that is important, it’s the planning.” This is a very simple statement, but I think it’s very true. Once we had a plan to start a health fitness center, we had to start planning on how we were going to turn this plan into a business. Many people can come up with the same plan, but not all of them will work out the same way, because they all will have different ways of planning out the business. After learning how to estimate startup costs and how much we needed to take out for a loan, we became well educated on developing a business.

In school we learn about a business entity called a sole proprietorship, but there are other partnerships we should learn about also. In our meetings we learned about five types of legal structures for a business. The first is a sole proprietorship. Some of the advantages of a sole proprietorship are: easy to organize, less reporting,

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and no double taxation. Another is a general partnership, with few formalities, a combination of resources and talents, and personal tax benefits. With a limited partnership, general partners provide additional capital, limited partners have limited liability, there is an allocation of income and losses, and there are tax advantages. There are two types of corporations: an S-corporation and C-corporation.

Often times the owners are employees of the corporation as well. The only difference of the two is the tax treatment. The limited liability company provides limited liability without limits on management’s participation. It has flexible ownership and capital, there is no double taxation and tax benefits are allocated among members. Depending on the legal structure and the type of business you are looking to start, you can choose which type of structure would be the best to help the company succeed.

Another part of business development is looking at your competition. When entering an industry you must consider who your competitors will be. When we studied our competition, we examined their strengths and weaknesses to see what we could do differently that would make people prefer us over our competitors. We had to research things such as their prices, salary structure, benefits package, community involvement, etc. After gathering all of our research we had an idea of what our business would and would not offer.

After college I would some day like to own an accounting firm. The Youth Entrepreneur Academy business development classes and workshops presented by the Small Business Development Center (SBDC) at the Urban League have given me a greater understanding of owning a business. We learned how to work as business partners and agree on decisions for starting and running the business. One of the most important things we learned was how to write an executive summary - we had to look at every aspect of the business. This experience was very educational and also fun!

Got Hats? By Jillian Glen

Most teenagers spend their summers at summer camp,

Erika and I concluded that the location, the targeted on the beach, working and hanging out with friends. I audience and weather led to the disappointing result. spent a part of my summer in a different way - I found Our location did not have a large enough consumer myself in Hebron, Maine developing and implementing population. We had targeted children and men, howa business plan. This was because I participated in a ever, few visited our booth. Those who were interested did not even inquire about the price of this product; one week long entrepreneur camp called EntrePrep. they just leisurely browsed and strolled away. I even walked along the sidewalks with a full-size poster to At this camp, I together with fifteen other newly found elicit customer interest. Then it started to rain and we friends learned what it takes to become an entrepreneur. had to leave. Together, we spent our Maine days listening to speakers who detailed how to run a business. They taught us about marketing and accounting. We were given I re-evaluated the experience and attempted to identify worksheets that asked questions including: “What is what was needed to accomplish our goal. The followthe price elasticity of demand?” Overall, while having ing day Erica and I attempted to implement our idea. We found our target audience, set up our display table enormous fun we developed entrepreneurial skills. and succeeded in selling hats. I quickly realized that this introduction to business was designed to prepare me for actually carrying out a business idea. Throughout the week I had to craft a business plan which would be put into practice for a day at the end of the week. I was required to work with a partner, develop a business plan, list supplies and work within a given budget. A friend I made at camp, Erika, and I decided to create a “design your own hats” business. Who doesn’t enjoy decorating a hat? No one, at least that was what we thought, but we thought wrong! The day came to sell our product in Freeport, Maine, and we sold one hat. It was a tragedy, so we pondered the reasons for this outcome.

Overall, my experience taught me to turn what could have been interpreted as a failure into a success. I used my hindsight to reevaluate the situation and try again. The results were positive and I will take this lesson learned and apply it in the future.

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SELL 3 GET 1 FREE!!! Help promote Future CEO Stars magazine and earn cash in the process. Every fourth subscription you sell puts $25 in your pocket. Limited time offer so check it out now. For more info go to

www.FutureCEOStars.com or write to [email protected] with subject line “3 + 1 offer”

Do You Want to See Your Story in Print? Well, if it works for our magazine, we will print it.

We want your story! S R A T S O E C E R FUTU

In This Issue

YOU

With the exception of cleaning up some grammar, spelling, and other technical stuff your English teacher wanted you to pay attention to, we’ll leave your message the way you send it to us. It is, after all, your message and this is your magazine. All we really need is one page (typed) with a picture or two (1500kb jpeg files or larger are best) about what you want to say. Of course, the articles and pictures you send become the property of the magazine and will not be returned. Also, they may be used for other promotional purposes by the magazine and its parent company, The Consortium for Entrepreneurship Education. If we use your story, we will get your final approval of all edits before we print it. To make it easy we even have a writing

A you running a successful Are business, or hope to, and want to tell others about it? Do you want to give acknowledgement or thanks to those that have helped you along the way? Could other students gain from learning about your successes or warnings about your mistakes?

instruction sheet to give you some suggestions on how to put your story together. Just write us (at the address below) and we’ll be glad to send it to you. What have you got to lose? Here is a free chance (there is absolutely no charge for students to submit their story) to get no cost advertising for your product, web page or service. Opportunities like this don’t happen often. This is your magazine. It’s reaching thousands of classrooms each month. This is your chance to help yourself and help others in the process. Change has to begin somewhere and often the best way to pay something back is to pay it forward!

Sincerely, Mike Ashmore Editor, Future CEO Stars Magazine [email protected]

Emily’s Advice

Q &A

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mily actually represents a group of entrepreneurs and educators who are willing to answer your business related questions. What do you want to know? What haven’t you been able to discover on your own? Emily is up to the challenge and wants to share her experience with you. Put Emily to the test. She is here for you! Submit your questions to [email protected]

Welcome Back!!!!! This page is here for you. We anxiously await your questions, the more challenging the better!!! Caitlin preparing a new batch of biscuits. What would you like to know about your future career choice?

Are you having trouble finding an answer you need? Ever wondered about the origins of any entrepreneurial vocabulary or concepts? Maybe there is just something that has been bugging you, it doesn’t matter and no question is too difficult, simple, or silly!! We are waiting and look forward to hearing from YOU!!!!

Emily

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Future CEO Stars

August April 2008

IN THE GAME!!! By Ryan Gray While strolling through the African World Festival in Milwaukee, WI last summer, Ryan Gray saw a group of young people busy working at a vendor’s booth. There was a lot of buzz around them and the young people seemed excited as they talked to everyone that passed by their booth. Ryan was curious as to what they were doing and went over to speak with them. The young people seemed so bold, so sure of themselves. Ryan wanted to know how he could join whatever program with which they were involved.

and sororities. One evening on his way to class he passed a conference room and noticed over 20 people in a meeting. Ryan’s salesmanship antenna went up. He asked his instructor Tyie Andino if he could tell the group about his product. They peeked in the room but the group told them to come back later. Ryan was disappointed but quickly realized he had time to practice his sales pitch. And what a sales pitch he made! The meeting was a group of individuals representing over eight church denominations. They were impressed with what seemed like an impromptu presentation. Ryan received suggestions on slowing down his presentation and plenty of praise for his courage. And he sold a few games! In May 2008 Ryan presented a workshop titled “Turning Your Hobbies Into a Business” at the Asset Builders of America Money Conference. Currently he has turned his attention to researching other products he thinks will sell in Milwaukee.

He learned that they were involved in a program called “Your Life is Your Business” offered through the Center for Teaching Entrepreneurship. He told his mother that he wanted to be a part of the group. Ryan stayed on his mother about calling CTE until he was enrolled.

Ryan’s mother Barbara Paige told the CTE staff that Ryan was always energetic and looking for things to do. She feels CTE keeps youth motivated, and gives them the outlook that there is a future for them. She says Ryan has been introduced to a lot of things By the fall of 2007, Ryan Gray was en- he would not have experienced othrolled in the “Your Life is Your Business” erwise until he was in high school. Program and within a few months was getting the urge to start his own busi- Ryan stated, “CTE’s teaching will help ness. Ryan launched his business, Bless- you make it in life. CTE gives you ing Zone Enterprises, selling the Bible good values, and helps you understand Speed board game. Ryan made presen- what things you should do and shouldn’t tations to educators, religious groups, do when starting a business.” Through Future CEO Stars

August April 2008

entrepreneurship he gets to put his energy into something positive. Ryan would like to thank his mother for her encouragement and Ms. Rodgers for starting CTE and creating opportunity for so many. Ryan has embraced CTE’s philosophy that he is the CEO of Me™ Inc. CTE is a partner with the Illinois Institute for Entrepreneurship Education and brought dozens of students to the IIEE Young Entrepreneurs Conference in May 2008.

The Illinois Institute for Entrepreneurship Education (IIEE) invites young entrepreneurs and their instructors to register for the 3rd Annual IIEE Young Entrepreneurs Conference to be held in May of 2009 in the Chicagoland area. Students from around the country participate in: Business Workshops, Business Plan Competitions, The Young Entrepreneur Expo, The “E” College Tour, Networking with adult and young entrepreneurs, presentations from nationally known Keynote Speakers and more! For more information go to www.iiee.org or call IIEE at (312)587-9296.

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Future CEO Stars

April 2008

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 someone to do the dirty work

one who hired

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.

Sisat Igzao

Future CEO Stars

April 2008

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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MAYBERRY RFG by Joni Webb Petschauer

Entrepreneurship and civic engagement is alive and well in the Appalachian mountains of North Carolina. Take our example – we are two enterprising high school students from Mt. Airy High School in Surry County. Looking to serve our community and to earn extra cash for college, we began a recycling business called Mayberry RFG in June 2008.

Implementation of our business plan was made easier with a $1,000 start up grant from the “Dream Big” Business Competition sponsored by the Northwest Piedmont Council of Government. Both of us took a business entrepreneurship class in high school and developed business plans as part of the course requirements. The recycling business reflects our second effort at developing an idea to put into action. The first idea – a taxi service - was dropped after meeting with Mt. Airy town officials and discovering that insurance liability considerations were too difficult to overcome. However, further conversation led to the notion that a recycling service would make a terrific contribution to the community since Mt. Airy did not have one.

To begin our business, we decided to pilot our services in June with full service beginning in July. The service costs $30 for three months with a yearlong fee of $100; two recycling bins are

Future CEO CEO Stars Stars Future

August 2008 April 2008

provided at a cost of $10.00. Currently, rounds occur every other Saturday with homes in the city limits receiving pickup on the first and third Saturdays and outlying areas on the second and fourth Saturdays. As we understand more fully the process and the amount of time it takes, we hope to add more homes.

Since both of us are good students and athletes (tennis and football), we are committed to full schedules of leadership preparation, physical training, and academics. Fitting a part-time business into our lives reflects both our self-discipline and commitment to our community. Some of the lessons we have learned include: You have to have a good attitude. Setting up a business is time consuming, especially in the beginning. Learning about record-keeping, taxes, and marketing have been bonuses but it takes time away from recycling. It helps to create a professional appearance. We have shirts with our logo and magnetic signs for our truck.

Learning about and using community resources can help cut expenses. We have been allowed a dedicated office space in the local business and education resource center. Access to a desk, mailing address, laptop computer and communication services is key to our success.

Receiving the start-up grant really boosted our confidence. It let us know that our idea was reasonable and that we had a good chance at success. Sustainability of the business is already an issue for us to consider. Since Bryce will graduate from high school next year and head to college (Brooks is a junior), there will only be one of us at home next year to keep a close watch on the business. We’ve been discussing how to we will run the business. One possibility: we have been approached by a group of students who are interested in partnering with us and possibly using some of their profits to pay for organized student group trips.

There have been interesting side benefits to the business venture. Recently we were recognized with a “Great Idea Award” by the Western NC Network for Access and Success, an educational partnership serving the Appalachian region of North Carolina and funded by the Appalachian Regional Commission, Appalachian State University, University of North Carolina-Asheville, and Western Carolina University. It lets us know that there is a lot of encouragement for young entrepreneurs and this will not be our last business effort.

Sponsored By the Appalachian Regional Commission

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What Are You Afraid Of? F

ear. Did you notice that tingle in the back of your spine when you read the word? Fear is such a powerful emotion that just thinking about it can trigger feelings of apprehension. Unfortunately, many people go through their whole lives only dreaming of what could have been instead of taking a chance on pursuing their dream. What stops them? You’ve got it — fear. Of course, fear can often be a logical response to a dangerous situation. Whether based on experience or instinct, it can be a useful mechanism for self preservation. Fear (and common sense) keeps people from jumping out of windows and wrestling bears. This is rational fear. There is a distinct difference between this type fear and the irrational variety. Irrational fear, although often just as powerful, comes from perceptions and projections rarely based in reality. Fear of change, the unknown, or taking a reasonable risk often is irrational.

According to Henry Ford, the father of mass production, “Failure is the opportunity to begin again, more intelligently.” He would have known, because his first attempt to start a company that mass produced affordable automobiles, while paying his workers high wages, failed miserably. It started in 1899 and was dissolved in 1901. Think of the historic ramifications had Ford just quit and went back to running his family farm like his parents expected him to do.

It takes effort and diligence to overcome irrational fear. Society is constantly bombarding us with messages that failure is unacceptable. This attitude trains people not to try. With very few exceptions, everyone that has achieved entrepreneurial greatness has failed at least once. Failure, or better said, “life lessons”, is just part of the process. It shouldn’t be feared. On the contrary, it should be embraced because every unsuccessful attempt moves entrepreneurs one step closer to success!

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For instance, many people are very afraid of public speaking. They go through their whole day talking their heads off but when you put them in front of an audience, even of the same people they chat with, they freeze up. When asked why, many respond, “I don’t know why I’m afraid, I just am,” indicating that their risk analysis of the situation is faulty or non-existent. Their answer to the question “What is the worst thing that could happen?” isn’t based in reality or hasn’t even been well thought out. The truth is, your audience won’t eat you and if they laugh it is usually with, and not at you.

People operating with an Entrepreneurial mindset typically deal with irrational fear in a positive manner. They take what others see as a problem and look at it as a challenge. They view what nonentrepreneurs call a failure as simply a learning experience. For a true entrepreneur, being knocked down is an opportunity to practice getting up. It is often this positive attitude about irrational fear that makes the difference.

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amb Brett L

According to a Gallop survey, two thirds of high school students when asked the question “What do you want to do for a living?” respond “Run my own business”. Obviously there is a large gap between this response and what really happens. Often these “would be” Entrepreneurs end up stuck in a career working for someone else, someone who didn’t let their irrational fear control their destiny.

Future CEO Stars

August 2008

Fashion Sense By Ib tihaj Amatu l-Wadud

My name is Ib ti haj Amatu l-Wadud , but e ver yone ca l ls me Ippy. I am 19 years old and the th ird y oung est of 1 0 kid s . I l ive in Spring f ie l d , Ma ss a chusetts and I am the proud owner of Ippy ’s Is lam ic Fa sh ions . My business se ws custom Is lam ic cloth ing for women and g irl s . I a lso ma ke other f a sh ions up on re quest. As a l ittle g irl , a lmost e ver yone sa id I had a knack for creativit y and the m ind of an entrepreneur. I wa s constantly com ing up with d ifferent th ing s to ma ke and sel l off of my front p orch . I had th e wildest ima g ination and create d the o ddest th ing s, b ut th e y sold ! A s I g re w old er, I b e came re a l l y intere ste d in learn ing how to se w. My mother taug ht me how when I wa s 10 years old. Af ter having a fe w years of exp eri en ce in se wing , other Musl im lad ies b e g an to notice my cloth ing and wante d me to se w for them a s wel l . It ’s d ifficu lt to find Islam ic cloth ing g iven that the attire of a Musl im woman is more mo dest than what the avera g e Am erican cloth ing store carries . Also, since th ere aren’t any Musl im cloth ing stores in the Ma ss a chusetts area , most Musl im women have to travel to Ne w York or Ne w Jerse y. Thoug h se wing wa s just a h o b by f o r m e , I s aw a n e e d f o r my s er vi c e s and de cide d to tend to it. When I wa s 16 I attende d the Excel len ce in Yo uth Entrepreneursh ip (EY E) pro g ram at Spring field Te chn i ca l Commun it y Col l eg e (S TC C). The pro g ram help e d me to de velop a business plan and g ave me the opp or tun it y to officia l ly star t my b us in e ss . I p l a c e d 2 n d in th e Young Entrepren e uria l S cholar ( Y E S !) business plan comp etition held at the end of the pro g ram, wh ich enable d me to move on and par ticipate in The Nati ona l Fo un da tion for Teach ing Entrepreneursh ip (N F T E) Ne w Eng land business plan comp etition, where I place d th ird . Just re c entl y I wa s o n e o f th e entrepren e ur s awa rd e d th e N F T E G l o b a l Young Entrepren e ur o f The Year 2008 Award , wh ich wa s an absolute honor. In Ju ly of 2007, I wa s one of approx imately 20 entrepreneurs worldwide to b e chosen to attend th e N F T E Advan ce d Entrepren eurs h ip S em inar. The N F T E sem inar re a l ly help e d me to advance my business plan and a l lowe d me to broaden my knowl e d g e a b o ut suc c e ssf u l l y r unn ing a b us in e ss . We ha d th e p l e a sure o f m e e ting b us in e ss own er s , who told us stories of their cha l leng es and success es . Their word s were strong , pa ss i o nat e a n d ver y en coura g ing to me.

Future CEO Stars

August 2008

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A Bright Idea BY JUSTIN ZICH

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As an entrepreneur, I have often felt as though I was stumbling around in the dark. Trying to do anything for the first time is always an exciting and stressful experience. With a new business, there are a lot of firsts: your first product, first customer, and first sale. It is never the daily grind. Talking to and meeting other entrepreneurs at Marketplace for Entrepreneurs was a great thing. In fact, before attending, I don’t believe I would have even thought to call myself an entrepreneur. There have been plenty of bumps along the way. Running your own business doesn’t just affect your work life; it affects your entire life. If you don’t agree, apply for a home loan and watch the terror in your loan officer’s eyes when you put “entrepreneur” down for your occupation.

was working nights and used my pickup a lot. I had a truck bed cover which completely blocked my factory cargo light from lighting up my pickup box. I decided I would purchase a light that mounted under the cover and would light up the box when the tailgate was open. I searched and searched, but was astonished when I was not able to find any such light. I still wanted the light so I decided to make one for myself, and the Automatic Cargo Light was born. Our product has undergone a lot of refinements since that original prototype, but the basic idea has remained the same. The light must be durable, light up the box automatically when the tailgate is opened, be able to be turned off if needed, and allow full function of the pickup.

Problem solving is a huge part of everyone’s life. Having grown up on a family farm, I have certainly done my fair share of it. I remember being amazed as a child watching my father and grandfather work on equipment and often times making or inventing things just to get the job done. One day I discovered I had a problem that needed solving. I

We originally looked into licensing

our product to a larger company. There was some very strong interest initially, but nothing that worked out the way we wanted it to. So we decided to make them ourselves. During the design process, naming our product became a huge issue. We knew how important a name is and we worked a long time to get it right. We had a huge list of names we didn’t like when we realized we had been calling it the perfect one all along - the “Automatic Cargo Light.” That was it! It was perfect and explained what the product did in the name. Our business name was not as clever. We have four members in our LLC, our last name starts with the letter “Z,” and we make products. So we went with 4Z Products. Our future plans change by the day or sometimes by the minute. Some days I dream of expanding the business, being able to open a factory in a small town, and support the local economy. Then there are other days where I hope some big company buys us out and writes us a nice fat check with royalties to follow. I have no secrets to share, no life changing advice. Just hard work, lots of help from friends and family, and the use of whatever resources are available. Like most anything worth doing, it is a struggle. Sometimes it’s great and sometimes not so much. But there are very few days I would rather be working for someone else.

Future CEO Stars Future CEO Stars August April2008 2008

ART IS ALIVE AND WELL....... .......(and Living in Cleveland!!) What would it be like to have your art displayed beside one of the great masters? That is a question you could ask of nine students, grades 6-12, who were selected by a jury of artists to feature their various art pieces from black and white drawings, black and white and colored photographs, ceramics, a self-portrait, a mobile in the style of Leonardo da Vinci and a life-size dress made of candy wrappers. The National Museum of Education was honored to announce these talented nine student artists’ work at the grand opening of the National Gallery for America’s Young Artists™ at a formal reception and ceremony on Wednesday, July 23, 2008 at the world-renowned Western Reserve Historical Society in conjunction with the magnificent “Vatican Splendors” traveling exhibit, which is on display in Cleveland, Ohio until September 7. The 200 amazing artifacts, some of which have never been seen before outside of the Vatican), will then move to St. Paul, Minnesota in late September. The works of the nine students who were selected represent many mediums and were graciously sent for consideration by their families or their teachers: Shannon Bowman, David Curry, Lori Lefevre Johnson, Floyd Juszli, and Felice Troutman. The encouragement and inspiration of these teachers and parents was critical to the creation of these fine art works. They include: “A Place in Time” by Jennifer Fenkanyn; “Coffee in the Morning” by Courtney Innocent; “Morning Walk” by Lauren Kahler; “St. Bernard’s Cathedral, by Ben Louis; “Self-Portrait” and “Would You Like Fries With That” by Emily Mitchell; “Not Spoken For” by Danielle Pieper; “Candy Wrapper Dress” by Elizabeth Rintels; “Take Flight” by Jason Spargo; and “Ohio State Fair” by Zachariah Szabo.

Future CEO CEO Stars Stars Future

August 2008 April 2008

The student art will have the opportunity to become a part of the online public National Gallery for America’s Young Artists™. This art gallery will hold art from K-12th grades. For this new National Gallery, schools will submit digital images of selected student art, which will be chosen for exhibit online. Corporations, universities and private collectors nationwide will then have the opportunity to purchase art for display in their company foyers and board rooms. This has the potential to become the largest national art gallery for youth! The student artist will receive the entire purchase price. (The National Museum of Education, which will administer this new National Gallery for America’s Young Artists™, will accept absolutely no portion of the sale.) The sale of the art will result in a critical resume builder for the young artist. A piece of art prominently displayed in a company’s foyer is a great foundation for a future art career.

For further information, to purchase student art, or to enter your own digital art, view the website at www.nmoe.org, or email info@ nmoe.org.

Emily Mitchell and her self portrait

There are many incredible young artists in America. Fortunately there are also organizations which honor student art—some of which provide monetary awards, ribbons, certificates, and even recognition ceremonies. The National Gallery for America’s Young Artists™ will do all of the above as well as archive and preserve the honored art. This way the beautiful, unique, original pieces which America’s young artists have made will have a permanent home. Who would have believed the creative sense that Elizabeth Rintels had when she made something beautiful from a variety of colorful candy wrappers of different sizes and textures? Now, at only 11 years of age, she has a dress- a true work of art - hanging at the entry to the “Vatican Splendors” exhibit. She, and eight other artists, have the beginning of an art career.

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Future CEO Stars August April2008 2008 Future CEO Stars

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

Future CEO Stars

April 2008

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Nearly two years ago, in the fall of 2006, Shams Naim, Yousef Ezz and Michael Donaghy were just three normal freshman students, majoring in engineering, business and IT respectively. Today, a year and a half later, they are the leadership behind the Drexel Entrepreneur Association, a student organization they started after sensing a need for an entrepreneurial group for the ambitious and like-minded at Drexel University. Within a few months, they were the founding members of the Drexel Entrepreneurial Association. The group’s growth and success over this past year has been tremendous. They have worked closely with Philadelphia’s Empowerment Group and actively sponsored a keystone event during Philadelphia’s Entrepreneurship Week, a city-wide initiative attended by nearly 1000 people. They even hosted a breakfast event bringing together four generally separated groups: undergraduate students, graduate students, Philadelphia’s business community and Drexel University’s entrepreneurial staff and faculty, with hopes of future synergy and collaboration. As a result, they have since linked up with a variety of Philadelphia networking groups such as the Philly Startup Leaders and the Sustainable Business Network. During the year, they brought in a myriad of entrepreneurs and investors, all of who spoke of their passion and struggles en route to achieving success. The culmination of the group’s hard work came when they were awarded the Dean’s Cup by the LeBow College of Business, an honor bestowed only to the best business organization at Drexel University. Even during the summer months the DEA is busy, building relationships and planning for the future. They are currently actively involved in Global Entrepreneurship Week, a week of interdisciplinary events to be held in November 2008.

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The group’s success is based upon an entrepreneurial process that has existed for centuries: mentorship. Housed within the Laurence A. Baiada Center for Entrepreneurship, the group is constantly surrounded by young entrepreneurs, many of whom have won business plan competitions that are hosted annually by the Baiada Center. This entrepreneurial community that exists within the center not only helps

the students, it also allows the mentors to further their own understanding of and goals in entrepreneurship. Through this community, many of the DEA’s members were offered internships with local startups such as PhindMe, a recent mobile-integration startup. The group’s two advisors, Terri McIllhenny and Mark Loschiavo, also work in the Baiada Center as the Director of Programs and Services, and Executive Director respectively. When you ask anyone about entrepreneurship, they’ll say “networking is key!” At the Baiada Center networking is facilitated, as everyone is eager to introduce you to others and foster interaction. The Baiada Center also helps students like Shams, Mike and Yousef grow as entrepreneurs. The center holds a variety of programs during the year, including business plan workshops, entrepreneurial skills workshops, competitions, breakfast

forums and mentorship programs. The entrepreneurial infrastructure of Drexel University has tremendously increased the educational value for many students, such as Shams. As an engineer, he never thought that he would be entrepreneurial. Today, he sees himself en route to applying his domain expertise as an engineer to startup companies in the nanotechnology and alternative energy fields. For others, the Baiada Center and entrepreneurship offer a unique connection between academics and personal pursuits, regardless of major. One such example is the Lathes for Africa Project started by a few Drexel engineering graduates whose objective is to help Africa by instilling economic empowerment within certain communities. The project emerged out of a Senior Design Project, and is actively working to achieve its goal. Without the entrepreneurial infrastructure at Drexel, which encourages a passion for entrepreneurship as well as opportunities to apply such passion, such projects would end at an idea and never be taken advantage of. For more information about the Drexel Entrepreneur Association, visit their website at www.DrexelEntrepreneurs. com or visit their Facebook page ‘Drexel Entrepreneurial Association’. Information on the Baiada Center can be found at www.lebow.drexel.edu/Baiada.

Article Sponsored By The PA Entrepreneurship Leadership Team and AdVanz

Future CEOCEO StarsStars August Future April2008 2008

Our Sponsors When an organization really cares,

it shows!!! 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.

Appalachian Regional Commission

www.arc.gov

Buchholz High School

www.bhs.sbac.edu

The Coleman Foundation

www.colemanfoundation.org

E*TRADE Financial

www.etrade.com

Illinois Institute for Entrepreneurship Education

www.iiee.org

Marketplace for Kids

www.marketplaceforkids.org

MediaSpark Inc

www.mediaspark.com

National Council on Economic Education

www.ncee.net

National Museum of Education

www.nmoe.org

NFIB Young Entrepreneur Foundation

www.nfib.com/yef

National Foundation for Teaching Entrepreneurship

www.nfte.com

NY REAL

www.nyreal.org

Réseau des CJE du Quebec

www.cjereseau.org

University of Florida

www.cei.ufl.edu

Yourhomework.com

www.yourhomework.com

USA Today

www.usatoday.com/educate

Small Business Development Center

www.ohiosbdc.com

AdVanz, LLC Insight Ohio Entrepreneurship Coalition

Future CEO Stars

August 2008

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COMING THIS FALL

Johnny Money Online Game Introduce your students (JMOG) is an interactive to entrepreneurship small business simulation through my small business designed to enhance high simulation game. school students’ exploration of entrepreneurship. The game allows youth to learn about day-to-day functions of an entrepreneur and operating a small business. ® An engaging and modern educational supplement ® Internet based for easy incorporation into existing lesson plans ® Use in-class or as a homework assignment ® Great addition to homeroom, advisory or after school programs

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