February 2009 Issue

February 2009 $2.50 US

FUTURE CEO STARS In This Issue “Creating My Own Path”

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The National Foundation for Teaching Entrepreneurship

Teaching Young People to Think Like Entrepreneurs The National Foundation for Teaching Entrepreneurship (NFTE) provides entrepreneurship education programs to young people from low-income communities through schools and community-based organizations. Since 1987, NFTE has worked with more than 186,000 young people. NFTE currently has programs in 21 states and 13 countries outside the U.S., and has more than 1,000 active certified teachers. For more information visit www.nfte.com.

Teaching Youth to Build Businesses

FUTURE CEO STARS In This Issue… 5 A “FISHY” Business... NY REAL 7 A Gift for Entrepreneurial Thinking NFIB YEH 8 Sharon’s Page 9 What’s in Your Hands to Create? Réseau des CJE du Québec 11 From My Experience AdVanz & PA State Leadership Team 12 Becoming An Entrepreneur University of Florida 15 Hand in Hand NFTE, Inc. 16 Creating My Own Path Devon Milholland 17 SWAK Designz Il Institute for Entre. Ed. 18 Ask GoVenture Media Spark 21 Entrepreneurial Speed Marketplace for Kids 23 Michael Loy National Museum of Education 25 Green Teens on Team Green NCEE 27 Our Sponsors

February 2009

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

Join us!

To Subscribe go to www.futureceostars.com

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]

A FISHY Business With a Promising Future!!! By Kip Doyle

The National FFA

Organization, formerly known as the Future Farmers of America, is a youth organization that helps prepare students for leadership and careers in the science, business and technology of agriculture – as part of local FFA chapters in all 50 states, Puerto Rico, and the Virgin Islands. Katlyn Santangelo of the Cuba-Rushford FFA Chapter in New York State was recently named the national winner Aquaculture – Entrepreneurship/Placement Award during the National FFA Convention, October 22-25, 2008. The award recognized outstanding student achievement in agribusiness gained through establishment of a new business, working for an existing company, or otherwise gaining hands-on career experience. Santangelo received her experience in aquaculture during her four years of high school working at the CubaRushford’s Middle/High School Fish Hatchery program under the leadership of Mr. Scott Jordan, Fisheries and Wildlife teacher. The hatchery was opened in 1996 and is one of the only working hatcheries at the high school level in the United States. During her senior year at Cuba-Rushford, Ms. Santangelo was manager of the hatchery, putting her in charge of feeding the fish, collecting data, and taking water samples, all while supervising her fellow students.

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February 2009

“I enjoyed having the responsibility,” she said. “It was difficult at times working with students the same age as me, but I gained their respect and it worked out for me.” To earn the award, Ms. Santangelo had to work her way up through a local and state application process. The winners from each state were then narrowed down to the top four and eventually to the final winner. During the event, “I was competing most of the time,” Ms. Santangelo said of her experience at the convention. “We all were interviewed by nine judges. After looking over our applications and our interview, they chose the winner,” which wound up being Katyln. The hatchery manager position that earned Ms. Santangelo the award is especially important at the hatchery, Mr. Jordan said, because it teachers highschool students what it’s like to work at a real job. “As students go out into the working world, they’re able to use their experiences from the hatchery as a reference for getting jobs,” he said. And it’s not just about being in charge of a hatchery. They’re in charge of people. They had people that had to answer to them. That’s what’s important.”

alive, she said, but they were 6 feet long. And Ms. Santangelo is taking that experience to the next level, majoring in environmental studies at State University of New York at Cobleskill. “I work not only with fish, but with all aspects of the environment,” she said. The Cuba-Rushford also offers Ms. Santangelo an opportunity to stay involved with her high school’s hatchery. SUNY Cobleskill is a partner with Cuba-Rushford, bringing in high-school students to help at the college facilities, and then giving back eggs and fingerlings – very young fish – to the high school’s hatchery. “In exchange for helping them, they give us some of the eggs to take home and raise in our hatchery,” Katlyn said. “Within our hatchery, we raise the fish and then we release them – when they get about 3 inches long – into local streams.” Additional information on the award and the Fisheries and Wildlife Program or live webcam videos from the facility may be found at

www.crcs.wnyric.org

Ms. Santangelo said she was especially excited when she recently returned to the school and found some paddlefish she released into the school’s 1-acre pond four years ago. Not only were they still

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A GIFT for Entrepreneurial Thinking

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y name is John Kirkpatrick, and I own a series of Internet marketing websites, most notably, ZeroPriceTags.com. I currently live in Beckley, West Virginia and just finished my first semester at Wake Forest University in Winston-Salem, North Carolina, this fall. I became involved in Internet marketing, more specifically incentive marketing, about three years ago. Incentive marketing is pretty much a fancy word for “free gift sites.” When I entered the market, I simply wanted to earn a Sony PSP, as I didn’t have the money to buy one. I therefore turned to online opportunities. I plunged headfirst into my first venture with a “free gift site,”, but quit halfway through the process due to doubt created by others about the legitimacy of my brainstorm. A month later, I renewed my efforts, fully determined to prove that all the people who questioned me were wrong and that this was a lawful and successful means to earn income. I successfully earned the PSP and decided that this was a legitimate business opportunity. From there, I set a goal to start my own “free gift site” as soon as I earned enough capital. After two years of earning gifts for myself, in January of 2007, I started ZeroPriceTags, Inc. Now I am assisting people in getting cash or free gifts online. The way my site works is that I connect potential customers, also known as leads, to big name advertisers such as Blockbuster, Netflix, Life Lock, and many others. The potential customers can sign up for a variety of memberships offered by the advertisers - almost all of the memberships involve a trial product or membership to a service. A credit card is required but contrary to the popular belief, by law, the companies have to lay out all charges in the terms and conditions located on the order page. In return, the advertisers pay me a commission for each person I bring to them. In turn, I give a lion’s share of the commission back to the user who signed up for the membership in the form of a free gift. Our network has sent over $900,000 in free gifts since opening last year.

Don’t always follow what other people to do when developing or creating your businesses. Don’t be a slave to form or conventional thought. If you become involved in something before everybody else, it is a bigger risk, but the reward will be considerably larger when you succeed. You’ve probably read or heard this hundreds of times, but have you actually applied it? Manage your time efficiently, especially if you have a full-time job or are a full-time high school/ college student. Keep an organized calendar and good notes tracking everything that you do. Don’t always turn to the computer when trying to develop business ideas, even if your business is based solely online. Sometimes ideas or concepts will flow from your mind, and you simply can’t configure them in a word processing program. Bubbles, arrows, sketches are all important additions to building up an idea.

If you would like to learn more about my business or have questions in general, feel free to drop me a line [email protected].

I plan to continue operating my online ventures as I work through the challenging curriculum at Wake Forest with the help of my dedicated customer service employee, Bonnie Kato of Janesville, Wisconsin. After I have been at college for a semester, I have learned the importance of loving your job. If I didn’t love my business/job, I doubt it would still be in operation right now. Future CEO Stars

February 2009

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Words to the Wise

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Check out Not Quite What I Was Planning: Six-Word Memoirs by Writers Famous and Obscure. The author asked people to write a six-word summaries of their lives. Let’s adapt the same six-word activity to venture creation! Try your own phrases and see what you can come up with! \ \

Here are some of my attempts:

All

Opportunity Recognition: it takes: idea and

money.

Financing: I get

money?

Now, you try:

Where

will

the

Your turn:

Challenge! Pick Your Own Topic!

Capture the essence of business.

Challenge A Friend!

Use these same topics and make phrases with more or less than six words! * By Rachel Fershleiser & Larry Smith Copyright 2008

Send me your best ideas at [email protected] Sharon L. Cabrera DFLI 2009

By: Ka atheriine Korak kakis n Quebec we have a day designated to entrepreneurship (November 16th ), where everyone and anyone can celebrate by holding events and doing activities. This year marked the third anniversary of NED and it was a tremendous success with a plethora of activities going on from the most rural parts of Quebec to the urban sector. NED is about creating an entrepreneurial culture in Quebec by promoting entrepreneurial values such as creativity, leadership, perseverance, self-confidence, team work, and autonomy. It’s a day to inspire, empower and take action, celebrate and recognize entrepreneurs, youth, educators, community organizations, and governments who contribute and support entrepreneurship in its many forms. For more information visit www.entrepreneurship-day.org This year, a memorable event that was organized was

Future CEO Stars

February 2009

a videoconference bringing youth together from across Quebec. This year, we added an additional component to our event, an easy to use computer simulation program called GoVenture, which ensured that all youth had a solid understanding of entrepreneurship before joining in the larger group discussion later in the afternoon. On November 18 in the morning, students in participating schools played Go Venture’s Micro Business simulation game and competed with other schools across the province, giving their results via videoconference at timed intervals. In the afternoon, students came together to hear a young entrepreneur talk about their experience, share what they learned in the morning, and talk about how they can apply their new learning both in their school and community life. The winners from the competition were announced at that time.

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From My Experience... By Brian Linton

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rian Linton is a young entrepreneur and recent graduate of Temple University in Philadelphia, PA. He started his first company, Sand Shack (www.sandshack. com), his freshman year in college and has since grown it into a brand sold in over 100 stores across the east coast. Sand Shack is a resort apparel and accessories company with a central theme of the ocean and the conservation of it. He has also founded an organic coffee company, Kofi Coffee, in Philadelphia. Most recently Brian has been blogging about his entrepreneurial adventures and lessons on his website www. brianlinton.com. When I first started Sand Shack three years ago I was determined to succeed. But success in business isn’t as easy as just reading about it, and the best way to learn is to get out there and do it. Although the first years of operations have by no means been easy, they have been full of valuable lessons and experiences.

Sell Things Close to Home The biggest mistake an entrepreneur can make is to choose to sell a product or service they know nothing about or have no passion for. Just because selling something can make you money does not mean that it’s the right product or service for you to sell. It is so important to sell something you are truly passionate about, because if you aren’t passionate, your customers will know and your business will suffer. Use Your College and its Resources The Innovation and Entrepreneurship Institute (IEI) at Temple University have been an invaluable resource for my companies and me. The IEI hosts an annual business plan competition called the Be Your Own Boss Bowl, and this year I won grand prize. They’ve also provided me with numerous other opportunities and resources to help grow my business. Drawing on my positive experiences with the IEI, I encourage everybody to look at what their college (or future college) has to offer and do not be scared or ashamed to ask for help or use the resources they have. Don’t Make Excuses If you need to do something, don’t make excuses that inhibit you from doing it. For instance, when I have a sales meeting with a customer I don’t simply go home after the meeting is done. There is an unlimited amount of possible customers for Sand Shack’s jewelry, hats, belts, or flip-flops. You will be surprised at how much you can fit into a day if you don’t make excuses. Always Seek Great PR Nothing lifts you up or helps your business more than a positive story about you or your company. If you are a young entrepreneur there are plenty of media outlets that would love to broadcast your story to the masses. I’m always seeking out great PR, whether it be a newspaper, online blog, or magazine such as Future CEO Stars. PR in all forms is beneficial. Also, sign up for competitions and get your name out there. You will rarely be randomly approached to be in a story, you have to pitch your story to the media and get them interested in you. One example of a recent PR accomplishment is that Sand Shack was recognized as one of the top 20 collegiate businesses in the nation by StartupNation.com.

To read more about Brian, his current projects, and his entrepreneurial adventures and lessons, visit www.brianlinton.com. Brian may be contacted at [email protected].

Sponsored By AdVanz llc and the PA State Leadership Team Future CEO Stars

February 2009

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Becoming an Entrepreneur By Rob Castellucci

S

unday was always my favorite day of the week growing up in my small New Jersey town. It was the day that my father would teach my friends and me martial arts in our basement. It started when I was six years old and by the time I was ten, my father had over 150 students. That same year, I began instructing the beginner’s class and helping to handle the finances of his business, collecting class payments and balancing books. By being exposed to this entrepreneurial venture at such a young age, the seed had been planted and it would be another ten years before it began to blossom. Flash forward to my junior year at the University of Florida and my entrepreneurial potential had yet to be realized. As fate would have it, I became involved with the Center for Entrepreneurship and Innovation, participating in their workshops and listening to lectures. I had an interest in entrepreneurship; however I did not consider myself an entrepreneur. Another lucky move (with luck being where opportunity meets preparation) occurred when I became a Synogen intern. Synogen is a seed-stage venture fund that co-founds medical technology companies in conjunction with University of Florida patented technologies. I interned throughout the summer and then asked to stay for the fall since I enjoyed the work so much. Over the next two years, I had three promotions until I reached my current position as Associate. At Synogen, I get the opportunity to work handson with start-up companies developing technology that will change the world. Synogen’s portfolio companies offer everything from seizure prediction and nerve regeneration technologies to the world’s first non-invasive glucose monitor. The people at Synogen serve as a powerful reference group of entrepreneurs, a set of individuals that I model much of my behavior after. In fact, my co-worker Elena Casson took the great photo that you see above!

software to student apartment complexes and university housing divisions. With RoomBug, students will no longer have to worry about the “nightmare college roommate” and instead, can choose their own roommate online using Facebook. I started this company because I have worked in the leasing industry and saw the problems with the current matching system and I am also enamored with Facebook. The education that I have experienced over the past year has been phenomenal. Synogen and U-Match have been synergistically linked to serve as catalysts in my professional development. I did not view myself ever becoming an entrepreneur, even a year and a half ago. According to the Kaufmann Foundation, 70% of college graduates will start a business sometime in their lives, making it as likely as getting married or having children. So if you are reading this, thinking that you are not an entrepreneur, perhaps one day you will blossom into one.

With the confidence and knowledge accrued through my education at the University of Florida, CEI and Synogen, I co-founded U-Match last summer. Our first product is called RoomBug, which offers roommate matching

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Future CEO Stars

February 2009

Hand In Hand Using Entrepreneurial Skills to effect Social Change By Nadia Campbell

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y name is Nadia Campbell, I am 25 years old and I live in Brooklyn, New York. In September I accepted the position of Generalist at a senior center in Manhattan. My role there is to assist the Directors with the daily management of the center, its programs and members.

corporation papers, formed a board and then applied for 501(c)3 nonprofit status. Over the years, we have been able to help bridge the gap between seniors and youth in the community. And we continue to enhance awareness and respect for our elderly among younger generations.

Prior to that position, I opened a Day Spa in Crown Heights, Brooklyn. Our services included Facials, Massage and Nail Services. I had a great staff and consistent clientele, but I had too many complications with our landlord and decided to close. Even though things did not work out as planned, we had a great year and we made a difference in the community and the lives of our clientele. We hear that people still stop by and ask if we will be opening another location, so that must mean we did something right!

I was fortunate to have the opportunity to participate in The National Foundation for Teaching Entrepreneurship’s (NFTE) Biztech program in 2002. NFTE has given me opportunities to network with like-minded entreprenuers of all ages. I have also been able to have access to helpful resources and attend exclusive events.

In addition to holding the roles mentioned, I have still maintained my most meaningful role of CEO & Founder of The Victorian Hands Foundation. TVHF is a nonprofit organization that I started after I saw a special on elder abuse and neglect. I was only 11 years old, but I knew I wanted to do something to help. So I started volunteering at a local nursing home by simply spending time talking with the residents.. I then started encouraging other students and friends to volunteer with me on Sundays. People starting asking us who we were, so I came up with the name The Helping Hands Club. In 1998 I renamed the organization The Victorian Hands Foundation, in honor of my late aunt Victoria. She was very giving and was a nurse and foster mother, in addition to having three biological children.

TVHF has also received numerous grants, awards and recognition from organizations such as the New York Mets and Bank of America. We’ve been featured in several publications, including The New York Times, the Daily News and on Fox Business News. My main secret of success is engaging in things that I am passionate about, and getting others to become passionate as well. For more information on TVHF, please visit www.tvhf.org. To find out more about me and to request me as a speaker, visit www.havehopespeak.com. My work will be featured in the February issue of Essence Magazine as well as on the cable TV channel TNT.

Our supporters saw the need and encouraged me to take the organization to the next level, which I did. I filed the inFuture CEO Stars

February 2009

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Creating My Own Path By Devon Milholland

I

t was not until my senior year in high school that I discovered Entrepreneurship. Until this great discovery, I was uncertain of my career path. I was sure I wanted to have a career that would fulfill my dreams of making a meaningful impact for my family and society. My senior year in high school I enrolled in an Entrepreneurship program titled B.O.S.S. (Business Opportunities for Self Starters). This was a course designed by Professor Tim Scales from Indiana University East and funded by the state of Indiana. The purpose of the course was to teach Entrepreneurship to high school students. I had no idea that the course would become my career. In just six months I have graduated from High School, started college at Indiana University East where I study Entrepreneurship, started several small business ideas and have had a positive impact on many lives throughout the United States by teaching workshops. My first product that I designed for the B.O.S.S. program is an all in one broom and dust pan that I call the, E-Z Sweep “Squeez”. It is a product I designed and have been developing to assist restaurant workers make their job easier and more efficient. I also have a similar product I designed called the, E-Z Sweep “Swoosh”, it is to assist shop owners and workers in their clean-up activities. As my college career began, Professor Scales suggested that if I was a real entrepreneur, I would have many ideas and interests. He is correct and he suggests I form a parent company for my developing ideas. I have recently formed a parent company, Noved Designs.

Designs, and Devōn Accessories: candles, jewelry, and pin stripping cars. Becoming an Entrepreneur has been fun for me. It’s a lot of work and has required many hours of my time. I am very excited about the future of Entrepreneurship and what it can offer others as well as myself. I feel I am making a difference in my future while assisting others. I will be providing employment for workers, making a positive impact on the economy, and representing my family name with pride. In addition to the products I am delivering through Noved Designs, I’m working with Professor Scales to instruct entrepreneurship and economics to teachers, students and community members. I am active in leading workshops titled “Build A Rock”. In just three months I have assisted in training over 150 teachers in Indiana and nearly 2,000 students about creating entrepreneurship and market economics. During the same time period, we have traveled with the workshop to New Mexico, Arizona, Maryland, Nevada and Texas teaching at schools and the Boys and Girls Clubs. I am also the producer of a television show about entrepreneurship titled, “In Your Business” and I host a podcast program titled, “Whose Idea was It?”. I have joined the Rotary International club so I could start a Rotaract group on my campus to serve college students who are interested in Business and Entrepreneurship. I am also serving as the program assistant for the 2009 B.O.S.S. program for high school students. I am an excited and eager Entrepreneur.

My parent company, Noved Designs now has products in addition to E-Z Sweep, Noved Clothing

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Future CEO Stars

February 2009

Entrepreneurial SPEED!!!! BY NIC CRUZ

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hen I was young, it was always my dream to start my own business. No alarm clock to yell at me every morning, no one to boss me around all day, Nic Cruz and his CiNcity crew and extra-long weekends would be the life for me! At age 28 though, I’m quickly learning that dreams are just that. What I wouldn’t give to have a free weekend now. Just a single day when I’m not maintaining my website or playing catch-up on my hundreds of unanswered emails. When I had an employer, I actually had time to golf and even had a season pass. This year, after starting CiNcity Designs, I can count on both hands how many times I’ve hit the greens! Something isn’t right here, I tell myself. You’re your own boss now, Nic! Go see a movie, or take a vacation. Even my wife tells me that I work too hard. The truth of the matter is that I am a victim of my own success. There are too many people now that depend on me to make decisions and keep this E-train (as I call it) moving full steam ahead. The secret to my success is simple. A full-on marketing blitz using everything I know about the market I’m selling to. I live in a small town and cater to a specific community of car lovers. The kind of car lovers that live, sleep, and communicate on the Internet. They’re part of the car clubs that only exist online and share everything about their car with anyone who will listen. Using this knowledge, I build my custom headlights for cars for the biggest online following and post pictures of them on my website. I have many unique designs and it was only a matter of time before people from these online car communities found them and began circulating them around the internet—free advertising! Also, since I enjoy the product I create so much, and enjoy sharing with others, I’m going to have a booth at Marketplace for Entrepreneurs in January, 2009, to display some of my custom head and tail lights. My website came online and started recording traffic levels on the last day of May, 2008. Right away it started recording respectable amounts of traffic by way of web hits, or clicks. Starting with a couple thousand a week in the month of June, to a commanding 330 million in just the past twelve days! Web site hits do not translate to money in my pocket, of course, but it does mean that what I’ve done so far is working. People are coming to my website, looking at what I’ve done, and are telling people about it. A lot of people! All of this may sound good, and it is, but new problems now occur, like having to buy a dedicated server so that my website never slows down because of high traffic volumes, hiring employees to keep up with order demands, deciding where the next step in growth will be, and overall time management. Owning my own business has brought me great joy. I’ve been able to watch my small project grow from out of my tiny condo and into a 1500 square foot shop with five employees in just a few short months. My faith in God and the support of my wife help me keep my sanity when I feel like the pressure is more than I can handle. My friends and family have been supportive as well, which helps make it that much easier to wake up every day and truly love what I’m doing. Also, the support of my community and the help from those who have walked this path before me have been very helpful! I’ve only been my own boss since the second week of June, 2008, so I don’t feel I can really give anybody solid advice about starting their own business, but if I could share one thing, it would be to make sure your dedication is there. This is hard work and it’s going to require your constant attention. I don’t have any children yet, but I liken a business to having a baby and nurturing it until it can sustain itself without 24-hour care; there are no hours of operation, there isn’t a pause button when things move faster than you’d like, nor is there is there a fast-forward button when things aren’t moving quickly enough. Be prepared for the journey you’re about to face, but most of all, have fun! This is yours, and you deserve it! Future CEO Stars

February 2009

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“

Ask GoVenture

What are phishing and email scams and how can I avoid them?

”

Phishing is a type of fraud unique to the world of computers and the Internet. Phishers steal your personal account information and passwords by convincing you to share it with them. They do it by sending you an email that looks like it is coming from a legitimate source you trust (like your bank), or from a desperate stranger offering to share great wealth with you. These bogus emails require you to “confirm” your personal information over the Internet.

Phishers typically send you emails that begin with the words:

In this confidence game, you offer your credit card numbers, passwords, account information, or other personal data in good faith, only to have it stolen. The con artist quickly uses your accounts and passwords to purchase goods, apply for instant credit, and steal your savings.

• “Click the link below to gain access to your account.”

• “Dear Valued Customer” (generic salutation, without your name). • “Verify your account.” • “Your account has been compromised.” • “If you don’t respond within 48 hours, your account will be closed.”

Always question emails requesting personal information — or offers from desperate strangers. Remember, if an email message looks suspicious, it probably is.

GoVenture Educational Games and Simulations

for entrepreneurship, business, marketing, accounting, personal finance, investing, math, economics, career and life skills, and more! Perfect for home or school. Visit our website for product information, demo videos, free trials, and more!

GoVenture Activity Matching Terms — Small Business Match the following terms with the correct definitions by placing the letter that corresponds to each term next to the definition you think best describes that term. A. Balance Sheet

A business owned by one person.

B. Franchise

Shows the entire cumulative financial position at the end of an accounting period.

C. Brand Loyalty

A word, symbol, a design, or a combination of these, used to distinguish the wares or services of one person or organization from those of others in the marketplace.

D. Income Statement

Measures the operating activity (sales and expenses) that has occurred during a specific accounting period.

E. Patent

The act of calling something to the attention of the public, usually for the purpose of trying to sell a product or service.

F. Sole Proprietorship

Someone who manages, operates, and assumes the risks of a business or enterprise.

G. Advertising

The more people know about a business, the more likely they are to visit that business if it has what they need.

H. Bookkeeping

Describes where a company is now and where it wants to go.

I. Business Plan

A business that is actually owned by someone else, but you own and operate a location of that business.

J. Trademark

Helps protect your invention from being exploited by others.

K. Brand Recognition

If someone purchases a product and is very satisfied with the purchase, they are likely to return as a customer in the future.

L. Entrepreneur

The act of maintaining accurate and detailed financial records while running your business.

Answers:

Entrepreneur Board Game Learn about business and accounting with a unique and fun group learning activity. For home or school. Ages 12 to adult.

Educational Games and Simulations toll

free 1-800-331-2282 Future CEO Stars February 2009

www.goventure.net

A. F, B. A, C. J, D. D, E. G, F. L, G. K, H. I, I. B, J. E, K. C, L. H

www.NationalEweek.org This Announcement is Sponsored by the Consortium for Entrepreneurship Education, a 501(c)(3) non-profit corporation

GREEN TEENS ON TEAM GREEN By Tiffany Brown EntrePrep is a week long Summer Institute for students who want to learn about economic entrepreneurship education. This is a great program; allowing participants to get hands on experience in owning and running a business. Most kids our age don’t get such an opportunity! We learned how hard it is to market and sell great ideas. I am Tiffany Brown, a junior at Paul M Hodgson Vocational Technical High School majoring in business technology. I participated in the EntrePrep program on August 3 - 9 2008, at the University of Delaware. I started a company called Team Green with Jahmya, Jamie, Lauren and Ciera that focused on a trend and market need to keep environmental issues and the ‘Go Green’ concept at the forefront of everyone’s mind. We worked hard and played hard, enjoying extreme ultimate Frisbee while talking about our ideas. Team Green’s objective was to sell merchandise that encouraged consumers to save the planet by ‘going green’, raise awareness about recycling and have a better understanding about what causes global warming. We sold canvas bags and T-shirts that had clever phrases with pretty handmade designs using environmentally safe products. We also handed out flyers with facts about global warming and how consumers can help prevent it. After making our product we had to find a place to advertise and sell. We were fortunate to find “Peace

Future CEO Stars

February 2009

A Pizza” whose theme went along with our Go Green concept perfectly! On the morning of our business-for-a- day we set up our stand and began selling our products. We had to come up with a way to make people stop, so we started saying things like, “Save the planet”, or, “Save the trees”. Once we got someone’s attention we explained our mission. Some people stopped and listened, and others just walked away. Marketing is not easy but at the end of the day we made a profit and sold most of our items. The best part about the program was creating the product, learning how to work as a team and handle differences of opinions. The worst part was selling the product. People didn’t even care; they just kept on walking, and they didn’t even want the free information sheet. We learned a lot of lessons that can be applied to the real working world. We also have a better understanding of what it takes to get a business going. Even if you have a good idea, message, product or service you still have to get the message out to the market place and work even harder to try and get other people to ‘act’ on behalf of the mission or buy the product or service. Good thing we were able to learn this lesson in a fun environment with friends, mentors and teachers! Thank you Jim O’Neill, Delaware Council on Economic Education, Carrie McIndoe and University of Delaware.

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Future CEO Stars

February 2009

SWAK SW DES D ES IGN IG NZ Z The SWAK TEAM

I

n May of 2008 SWAK Designz had the opportunity to compete for the first time at the IIEE Conference held on May 1 in Illinois. “Before we could get to the conference it was necessary for us to function as a group” says James Hearn, one of the key members of SWAK DESIGNZ. “The business part almost seemed to come second.” However, the key component that each person had is that they were dedicated, willing to work hard and believed in the product that they had to offer. In the fall of 2007 Janell Allison, James Hearn, Brandon Rector and Randell Lewis were juniors and first year students at Crockett Career and Technical Center in Detroit Michigan. Each one came from a different high school and had no idea of what was to happen or the journey that they would soon embark upon within the next nine months. Ms Regina Cosey, their advisor, asked “Who wants to do business?” Only four people were willing to step up to the challenge. Without knowing what was to lie ahead they delved in head first learning and absorbing the essentials of how to start and run a business. “I remember sitting around the table and having to come up with a variety of ideas that we could do as a business. My brain would sometimes hurt. We had to learn how to listen and not discount what may seem like a foolish idea”, says James. “Finally after a few meetings we came up with SWAK DESIGNZ, a gift purchasing business that offers a variety of stuffed coffee mugs to potential customers of any age. Our slogan is “Let Your Gift Be Sealed With A Kiss.” As the days became longer, we knew

that the time was near and our debut was around the corner. We had so much to prepare for. I was nervous about speaking in front of strangers. Other than my teammates I wouldn’t know anyone,” says Janell. SWAK DESIGNZ would compete in the Jump Start grant competition. “On the day of competition, I wasn’t nervous about presenting in front of a group of people. I just didn’t want to forget my lines or speak too fast. We have a good product - I just wanted to give it my best show.” James Hearn and Tyshay Williams presented in front of four judges who gave them rave reviews on their presentation. They were awarded $150.00 in the Jump Start Grant Competition. “It was a wonderful learning experience for me. I met a lot of new people and was inspired after seeing all of the creative businesses by other students,” says Tyshay, a 2008 senior. “I hope I can come back and volunteer in 2009.” Ms. Regina Cosey is very familiar with entrepreneurship. Since 2002 she has had groups such as Wright Graphics (awarded Best Business Plan 2003), Design Tec, Memories of a Lifetime and SWAK DESIGNZ. “One thing that I love about business is that you can always begin again!” As SWAK DESIGNZ prepares for a new year the lessons learned by the group will not be forgotten. Each one is up for the challenges they will face and bringing a few new people on board.

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.

Future CEO Stars

February 2009

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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!!! 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 Ohio Department of Education

Future CEO CEO Stars Stars Future

February 2009 October 2008 May 2008

education.ohio.gov

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