November 2007 Issue

NOVEMBER 2007 $2.50 US

In This Issue

Our Future Now

5

Center for Entrepreneurship & Innovation, U of FL

Full Steam Ahead

11

Utah State Office of Education / YEA Biz

Sweet Success

25

National Council on Economic Education

© Jeffrey Camp Photography

Cal Fore of Sweat Monkey

November 2007 In This Issue…

Celebrating Future CEO Stars!

4 They Get the Picture

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.

National Council on Economic Education

5 Our Future Now University of Florida

6 An Entertaining Enterprise NFIB Young Entrepreneur Foundation

7 Alexandra Courtis National Museum of Education

9 Being Your Own Advocate 10 Emily’s Advice 11 Full Steam Ahead YEABiz/Utah State Office of Education

13 Ask GoVenture MediaSpark

14 My Future Is Covered Youth Entrepreneurs of Kansas

15 A Moving Experience NFTE

16 Do You Speak Entrepreneurese? 19 Not Horsing Around Marketplace For Kids

20 Experience Is A Great Teacher IL Institute for Entrepreneurship Education

21 Putting “The Benjamins” to Work 22 NEW Challenges National Entrepreneurship Week 2008

23 Starting Out Rough NY REAL

25 Sweet Success National Council on Economic Education

26 A Product Is Born Réseau des CJE du Quebec

27 Life After DECA DECA Inc.

29 Business Ventures Home Builders Institute

31 Our Sponsors

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

Join us!

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

Sam Vanpool loving her work!

When customers book Forté Photography for their event/session they definitely come out smiling and have the pictures to prove it!

They Get the Picture BY LISA ADAMS

F

orté Photography was born from a dream in February of 2007 in Kansas City, Missouri. Two students, Sara Dawes and Sam Vanpool, came together and in a flash did amazing things. After several fast paced months of planning, hard work, and the help of Scott Beeson and Prominent Youth, Inc., Forté was up on its feet. Prominent Youth is an organization that works with teenagers to promote entrepreneurship and make their dreams a reality. If you ask the Forté partners they will tell you that this business is their dream job because it is all about fun! Fun yet professional because they definitely know how to make any photo shoot exciting and effortless. As previously stated, there are currently two members of the Forté Photography team: Sam and Sara. Sara Dawes, the lead photographer, has been taking pictures since she was eight. Her first camera was a basic 35 mm film Canon. She will tell you she got started as the photographer of all of her family vacations, family affairs and fun shots around the house. This August, Sara started her freshman year at Central Missouri State University. Although college keeps her very busy, she will still continue to be the company’s lead photographer; taking pictures when she is home and editing while back at school.

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The second member, Sam Vanpool, has also been interested in photography for quite some time. She brings to the partnership some very important talents in the form of marketing and bookkeeping skills. Her passion for modeling is also a great asset to the studio. Sam, as well, is off to her first year of college at Maple Woods Community College, but will continue to work around her school schedule to keep Forte flourishing. The scope of work that Forté has enjoyed all started with taking senior photos. According to the partners their motto when booking a student for a session is “It is all about you and we mean it!” When they schedule a shoot they find out all they can about the student’s likes, interests and passions before selecting the individualized site. Forté wants their senior pictures to exemplify the student’s individuality. This is a great departure from the typical photographer who reuses the same props over and over again for every student they shoot. Their sites have varied from downtown Kansas City to a field in the country, whatever was best for the senior at the time.

The future is very promising for the girls of Forté Photography, as they have the passion it takes to run a business and make it successful. With the recent addition of an awesome website and online ordering (www.fortephotos.com), Forté is really growing. They plan to hire two more photographers and eventually move into a bigger studio. For Forté the opportunity to follow their dreams as young people is being accomplished through hard work, dedication and fun!

Sara Dawes developing her dream.

Their passion for detail and concern for their customers has launched them into other areas of photojournalism. They now do family photos, newborns, children, sporting events, sports teams, engagements and even some weddings. They also have been known to photograph the occasional little “furry friend” as well.

Future CEO Stars

November 2007

Our Future Now BY CAL FORE

U

ntil this past summer, I had always wondered what it means to be an entrepreneur. I surely didn’t understand the process of becoming a social entrepreneur or a business entrepreneur in my community. I had the wonderful opportunity to be admitted into the “Young Entrepreneurs for Leadership & Change” summer program for high school students at the University of Florida. Of all the experiences of my life so far, this one had a lot of impact. The program took me on a great journey to find myself. It was a journey that was exciting, fun and of course, educational. The field trips were eye opening and we heard real life stories of successful entrepreneurial skills and opportunities. Local business leaders took the time to answer our questions – no matter the subject. Even though there was plenty of serious work to be done, the program included interactive community activities, educational field trips, and plenty of time for fun. For me, this experience helped me to understand what it means to be an entrepreneur, but most of all how we can make changes in our world. I am hopeful that my generation will be able to think for themselves and become involved with their communities to make a better future for us all. This program was a great inspiration for me. The staff worked harder than any staff I have known to provide us with the most inspirational program I have ever attended. When I was sixteen, I had the idea that I wanted to do something that would have a positive impact on my community and maybe the whole world. I got together with a few of my friends and then added more friends from five high schools in our area and we developed an organization and a website that would help us make positive changes – first in our city and then in our county. Our website, www.SweatMonkey.com , began as a search engine for volunteer service opportunities, for-pay jobs, career education, as well as resume formulation and governmental involvement. I wanted to help encourage others in our generation to become a changing force in the local community. The program, “Young Entrepreneurs for Leadership & Change”, showed me that individuals do make a difference and I intend to try my best to prove it. Now my determination is much stronger to see that my website is a success. It showed me the importance of hard work, determination, teamwork and the belief that the future is in each of our hands. Anyone who is a Junior in High School and would like a life changing summer experience – just send me an email because I have lots to say about this awesome program and its incredible staff. My name is Cal and my email is [email protected] Future CEO Stars

November 2007

Cal Fore

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M

y name is Andy Holt and I’m currently in my senior year in college. I am finishing up a dual major in Engineering at the University of Missouri in Columbia. When I graduate next May I will have a BS in both Electrical and Computer Engineering. Although I attend school in Columbia, my home town is Lee’s Summit, a suburb of Kansas City, Missouri.

An Entertaining Enterprise

My entrepreneurial endeavor has been the creation of my own mobile disk jockey company, DJAndyJ. My interest in this area began at an early age with an intense love for music. I played the piano, three types of saxophone, flute, guitar and drums. I also enjoyed writing and recording my own music as early as 7th grade at the age of 12. I converted a small room in my basement into a recording studio with egg-carton walls for best sound reproduction. I utilized my portable keyboard and guitar for recordings along with electronic sound effects. I made recordings for use at school functions and a local radio station. Like I said, my passion for music was my basis to establish my own business.

BY ANDY HOLT

With a loan from my parents I purchased some used CDs and quickly began to build my business. I shopped and bought two speakers and some lighting. At first I worked for some school functions and set up a teen night at a local VFW hall. The music caught on quickly and I started performing for weddings, reunions and parties. These initial business endeavors helped me to win a college scholarship from the National Federation of Independent Business Young Entrepreneur Foundation. Today I continue to run the business successfully. Most of my bookings are in the greater Kansas City area or my home town of Lee’s Summit.

©iStockphoto.com, Anna Bryukhanova

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A rewarding aspect of establishing my own business has been the monetary rewards. I have managed to pay for most all of my own living expenses from my DJ income. Although cash is a great thing, it is far from the only benefit I have received. I have also gained a great deal of experience in business management. It is amazing what you can learn from booking new jobs, contracting with customers, preparing tax returns, subscribing to new music, repairing equipment and meeting with customers (including emotionally strung out brides-to-be). Best of all, I actually ENJOY my work. I like meeting new people and working with groups to plan a successful party or event. Many of my friends say I have charisma as an entertainer when I am playing music at an event. Although I have explored several other possibilities to advertise my business, I have been fairly successful over the internet. My computer engineering skills have resulted in my success in building my own website which has attracted many of my new customers. You can check it out at www.djandyj.com. . I have considered expanding my business by purchasing more equipment, making more offerings to my customers and hiring additional people, but at this point in my life graduation will bring big changes and I am not certain what direction I will go. If asked to summarize my secrets for success I would simply say, “Work at something you enjoy doing, make a profit, and recognize that not all successful businesses have to be large ones.” One thing is certain — my overall entrepreneurial spirit and business experience will help me succeed in the business world no matter what challenges I face.

One of the conveniences of this business is that I have been able to devote adequate time to my studies both in high school and now in college, since most of the bookings (gigs) that I am contracted for take place on Friday and Saturday nights. This allows me to attend school and work weekends. This is not to say that the business always runs smoothly. One of my greatest challenges has been the conflict that I have in wanting to grow the business while managing my time to focus on my studies. Future CEO Stars

November 2007

Future CEO Stars

November 2007

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Being Your Own Advocate

©iStockphoto.com, Christopher Pattberg

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n business, as in life, we often have to be our own advocate. This basically means if you want something you have to ask, because no one is going to do it for you. You have to look out for your own interests. This may seem obvious to some, but in reality it may be a little trickier than you think. We start out in school doing just that, but over the years the behavior changes. In kindergarten, if you had to go to the bathroom, you definitely let it be known. The same was true if you were hungry, tired, or didn’t feel well. Most young kids just naturally speak up to take care of their needs, at first anyway. Then, for a myriad of reasons, the mixed messages from authority begin. Due to the need to accommodate a whole classroom, we are conditioned to wait. We are told things like “wait your turn”, “be patient”, “be thoughtful of others,” and “wait until recess”. For the good of the group we are taught to set aside our personal initiative. The result of all this conditioning often adds up to a mindset of sacrificing or at least putting off our own needs for others. While this type of thinking is excellent for military service or being just another “cog in the machine” of someone else’s company, it doesn’t serve an entrepreneur well.

Future CEO Stars

November 2007

Many successful entrepreneurs know that “looking out for number one” is the key to prosperity. Take Bill Gates for example. In the early 1980’s, IBM saw that personal computers were the wave of the future. They thought they were visionaries. Their whole mindset was on designing hardware that people could afford and buy for their own homes. They didn’t worry too much about the fact that the average citizen didn’t want to learn an operating language like DOS to be able to use a machine to balance their checkbook. Although IBM didn’t give operating systems much thought, Mr. Gates did. He saw that the real long term profits were in the software not the machines that ran it. Did Gates tell his IBM connections that their focus was in the wrong place? Of course not! Working as his own advocate he quietly had his Windows® operating system installed on all their machines before they went out the door. From this stroke of genius Microsoft® flourished and the rest is history. Of course no business operates in a vacuum. You have to be careful not to be so self-serving that you burn bridges that you may need to cross later. A balance needs to be found that, when operating in your own self interest, you create win – win situations with your partners. In the end you have to be your own advocate because when you are an entrepreneur “school is out” and no one is going to do it for you!

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Emily’s Advice E

Q&A

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]

Q

Dear Emily: I have often heard, and read, that it is a good idea to have a mentor when starting out as an entrepreneur. Although I do have some really good teachers in school they don’t seem to have all the answers I need. How do I know who to trust and where do I find them? Sincerely, Edward Visor

A

Dear Ed: First of all, congratulations on having the presence of mind to realize that you may need help outside of what has been your traditional peer group. All through school many students develop an attitude that the only people they can trust are those that are their same age. This attitude severely limits their ability to expand their circle of friends and confidants in the real world. Yes, I agree that it is a good idea to have mentors when going into an unfamiliar venture. Without dependable advice a lot of resources can be wasted making the same mistakes that others have experienced before you. Why waste time reinventing the wheel when you could be improving it? Your question is a good one and not as simple as it seems. In the business world competition can definitely alter how people behave. Some entrepreneurs have a very selfish mentality. They look at their field of potential customers as a limited commodity and are suspicious that others are trying to take a piece of their pie. This is unfortunate because their efforts would be better spent trying to expand the field itself. With this thought in mind you are right to realize that not all potential mentors have your best interests at heart. Any advice should be examined thoroughly and not blindly followed. It is wise to pay close attention to people’s actions. When they don’t match their words, be careful! Of course, not all entrepreneurs fall into this category. Many are beyond operating on a pure profit motive. They have reached a socially conscience stage in their career where they want to give back and help future generations. These are the people you want to find. They are often involved with Trade Associations, business clubs, and community groups. For instance, members of your local Rotary club tend to be successful entrepreneurs who are looking for ways to help others. Other good sources of potential mentors include members of your local chamber of commerce, the National Federation of Independent Business, the Small Business Administration/SBDC, EO (a national organization of successful entrepreneurs), your parents’ friends, or even local houses of worship. Many people truly do want to help. I hope you find them! Sincerely, Emily the Entrepreneur

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Future CEO Stars

November 2007

Full Steam Ahead BY CLAYTON JENKINS

F

irst, a little bit about me. I’m seventeen years old and a senior at Davis High School in Kaysville, Utah. My favorite activities include skiing and editing music videos on the computer. Deciding to start my own business didn’t come to me overnight. I think the idea originated while working for other people. I would often come up with ideas that would improve the business and make lots of money for the “other guy.” It hit me one day that I could maybe, work for myself. While talking to my marketing teacher, he mentioned an organization that would provide me with a mentor, and some start up capital for my own business. I thought, wow, how great it might be to break the teenage mold and do

Get all of your closest friends and family involved. Half of the fun is sharing your (business) ideas with your peers, and getting their opinion. Keep the idea alive! Keep everyone excited! Begin taking steps towards getting started. Research in your free time on how to best complete that goal. Execute. This is where you learn to KISS, or Keep It Simple, Stupid! You need to reel in those crazy ideas that you conjured up earlier, and start easy.

something challenging for myself. Well, I followed through by completing the requirements for the organization’s (Young Entrepreneurs of America) application process, and was eventually accepted by the program. The YEA program was great. Four students were selected and given the chance of Future CEO Stars

November 2007

a lifetime – we each received a business mentor, several seminars guided by Brian Acord (head of YEA), limited start up capital, and a free dinner. I decided to launch my own boat detailing business called Premium Steam. YEA helped me contact Joyce Mathie, owner of a local store that sells steam cleaners called Sergeant Steam. Ms. Mathie and I arranged payment methods for the steamer, and I was off! I originally had two employees, my friends Tyler Voorhees, and Wes Bledsoe. I was told that hiring friends may be risky business, but I made sure that they knew a thick skin was required, and that I was the boss.

didn’t initially make a lot of money, we gained a lot of additional clients through word of mouth and social networking.

Finding the first clients seems to be the hardest thing about running a service business. And believe me, we were no exception. However, I think we really struck a niche and before we knew it, we had all sorts of clients calling. Sometimes when we would get a little slow, we would practically do our neighbors’ cars, boats, or RVs for free. Although we

This Article Sponsored by the Utah State Office of Education

At first we were making about $16.00 an hour. I was almost disappointed that we weren’t making more until I realized I had only been making 6.50 at my previous job. Also, while working for myself, I could hire my friends, make my own hours, and take two hour lunch breaks to go to our luxurious swimming hole, complete with a thirty foot rope swing and several secret fishing spots.

Starting my own business was probably one of the best decisions of my life. I now have that entrepreneurial spirit burning, and I don’t Never stop thinkbelieve I could ever ing like an enpermanently work trepreneur! Look for anyone besides for business ideas Clayton Jenkins myself again. This everywhere! The man coming spring I will who created the coin be launching a new multimedia business. counting machine and made millions My company will mostly concentrate thought up the idea while counting on video editing, flash website design, change. simple programming, scripting and logo design. Although it’s still in the planning Get the community involved. stages, my partners and I have already Send out small press releases come up with a name, we believe we to your local paper, talk to your have found a significant target market, neighbors and do what you can to and our website is already being built. get everyone talking about your Remember that being an entrepreneur is not only about making money, but it’s business! also about having a lot of fun, while still enjoying the people around you.

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The GoVenture Entrepreneur board game combines the best of your favorite board games into a business context where you run your own business and compete, collaborate, and negotiate with other players. Game play is expertly designed to recreate the real-life thrills and challenges of entrepreneurship in a fun and educational social learning experience. Ages 12 to adult. For 2-6 players each with their own business, or up to 12 players in teams.

Activities include • Buying, Pricing, and Selling Products (called “Gwidgets”) • Managing Employees • Paying Expenses • Managing Cash Flow • Investing in Product Quality and Marketing

• Interacting with other players through question and answer, drawing, charades, trivia, word puzzles, and more! • Evaluating success by calculating Equity • Preparation of Balance Sheet and Profit and Loss statements (optional)

• Negotiating with other players

• Accounting General Journal and General Ledger (optional)

• Balancing work and life

• and much more!

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Ask GoVenture

“

I need to work on my networking skills. Do you know any techniques I can use right away?

Business is all about relationships — the more you have, and the deeper they are, the more likely you are to succeed. Here are three quick tips on using networking to your advantage. • First, remember that time is at a premium, so find events where successful, connected people gather, and where you have the opportunity to interact, not just sit passively in an audience. • Second, ask questions and be a good listener. By encouraging others to talk about themselves, you will learn more about their interests and background and they will feel better about you.

”

Look for ways you can relate to the person you are talking to, whether it is with career, hobbies, family, etc. Think of ways you can build the relationship, not just by selling your services, but by offering information, an introduction, etc. • Third, follow up with any contacts you make. This could be an eMail, or a simple note to say you were pleased to meet. And keep in mind that when it comes to establishing mutually rewarding relationships, the broader your network of acquaintances and associates, the more you have to offer to the people you meet.

Crossword — Communication Skills 1 2 3 4

6 7

8

9

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ACROSS: 3. Whenever you communicate, make your understood 5. Your should be free of spelling and grammatical errors 7. Expanding this with new words will improve your speaking and writing skills 8. Speak clearly and professionally when using this 9. Communication that involves speaking and listening DOWN: 1. While speaking or listening, maintain contact 2. Term for the proper code of conduct when communicating online 4. A form of public speaking, often using visual aids 6. Non-verbal communication is called language 10. Always without interrupting

Across 3. message, 5. writing, 7. vocabulary, 8. telephone, 9. verbal Down 1. eye, 2. netiquette, 4. presentation, 6. body, 10. listen

Future CEO Stars

November 2007

Top five reasons people start businesses 1. 2. 3. 4. 5.

To do work I love To be my own boss To make more money To create something people need To pursue a challenge

Source: Yahoo

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GoVenture Activity

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www.goventure.net

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My Future is “Covered” BY KRISTEN BLODGETT

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hen reading this article, picture your dreams and goals, whatever they may be, as they are now. Have you accomplished them? Are you on your way to accomplishing them? If you answered yes, good for you! If you answered no, then maybe my story can help. I live in Topeka, Kansas. Topeka is a reasonable sized city with not much to do. In school, I never really knew what I wanted to pursue as a possible career.

1. Never give up. It may be cliché, but determination is a key quality of entrepreneurs. 2. Be passionate. Pick something you are truly passionate about. It makes working on it all that much easier. 3. Use your talents. Find what you are good at and go with it. 4. Don’t let people’s judgments stop you! Never let what others say bring you down.You can make your dreams happen. 5. Finally, be willing to work. Accomplishing your goals is usually not easy. Prepare yourself for a lot of work, but in the end it will be well worth it.

Sure, I had those dreams of being a veterinarian when I was 8, but as I grew older, my choices changed. I went from wanting to become an interior designer to an accountant. There were so many things that I loved to do that I didn’t want to have to choose just one and pursue a career out of it. Then, in my junior year, I signed up for an Entrepreneurship class. I only took

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it to cover a business credit needed for graduation, so I wasn’t looking forward to it. However, a couple weeks into the class, I knew that it wouldn’t be so bad. In fact, it was fun. We learned a lot of things about entrepreneurs and their qualities. We also learned about teen entrepreneurs. This inspired me. I thought it was cool that kids my own age were already starting a career and making a tidy profit from it. That was certainly better than my job as a hostess in a local restaurant. One day in class, my teacher, Ms. Northup, had us pick something to write a business plan about. It was back to the same question of career choice, and I was still as empty handed as ever. When it came down to crunch time, I randomly choose a business of making an invention I had thought up on a whim: instrument case covers. This choice turned out to be a major milestone in my life. When I was in the fourth grade I joined the orchestra. My violin came in the standard black case. The very first day of class, when I couldn’t figure out which instrument was mine, I realized everyone else’s did too. That day, when I took home another girl’s violin, I realized that something had to be done about the cases all looking the same. In comes my idea of making personalized, unique, fabric covers that would slip over the instrument cases. This simple idea turned into my future career choice.

Last May, I won the Youth Entrepreneurs of Kansas regional competition for my plan of making and selling instrument case covers. My plan was chosen to represent

Kristen, her teacher Lana Northup, and fellow YEK student Rosie Perkins. Kansas in the national competition held by the National Federation for Teaching Entrepreneurship in New York. It’s a lot of work preparing my plan for nationals, but I have wonderful mentors who are helping me. Also, along the way of making a fictional plan for a competition, I’m making a real plan for my job in the future. So, there you have it. Anyone anywhere can take a simple idea, no matter how far-fetched it may be, and make it into a career! So, to wrap it all up, I want each and every person reading this article to think long and hard about their biggest dream or goal and try to accomplish it. You can use my steps or ones of your own. Either way, keep trying, don’t give up and most importantly, have fun with it.

It’s odd how you can be wondering about your future one day, and the next, you know exactly what you want to do. With my business plan assignment came my future profession. Sure, I never really thought it would be possible to invent something and actually sell it, but I am currently in the process of doing just that.

Future CEO Stars

November 2007

A Moving Experience

Arel Moodie and his partner Bert Gervais.

BY AREL MOODIE

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n the spring of 2004 my best friend, Bert Gervais, and I were in college and wanted to move off campus. Together, with another friend, we had a horrible time finding a place. We searched for weeks until we found a decent three-bedroom apartment. Everything was fine until our third roommate let us know that he would no longer be attending school the following year. Since we now only needed a two bedroom place we had to do the whole process again. After going through this twice we figured there must be a better way. In discussing this with other students we found that we were not the only ones who went through this mess. My mentor once told me to never look for an opportunity, but look for a problem and work on its solution. Well here it was so Bert and I teamed up with another student, Matt Young, and decided to take action. We came up with the idea for placefinder.com, a website that deals specifically with finding off-campus housing, roommates and sublets for college students. We uncovered a huge need and a great solution, so then money would just come rolling in, right? Wrong! There was so much we didn’t know about business, and about building a website. We must have hit every single roadblock imaginable. We knew what we wanted to do, but we didn’t know how we were going

Through entrepreneurship education, NFTE, the National Foundation for Teaching Entrepreneurship (www.nfte.com), helps young people from lowincome communities build skills and unlock their entrepreneurial creativity. Since 1987, NFTE has reached over 150,000 young people, trained more than 3,700 Certified Entrepreneurship Teachers, and continually improved its innovative entrepreneurship curriculum. Future CEO Stars

November 2007

to do it. We just didn’t know enough. We thought if we built it, the customers would just come. We launched the business in 2005 when we were nowhere near ready. There were huge problems with the website: it didn’t work properly, it was not user friendly and there were many complaints. So we decided to take the site down and spent the next two years fixing it. While other students went out to parties on weekends, we were in our apartment working. It came to a point where I personally felt like I was in the business of trying to develop a business! We began seeking experienced mentors, planning our marketing strategies, and reading as many books on the subject of business that we could. Many times I felt like quitting. Here I was, supposed to be this big-shot businessman, but my friends were making more money working part-time in the dining hall. I felt like a loser until I realized something that changed my world. It’s just as impossible to flip a coin 100 times and get heads all 100 times as it is to keep trying and always fail. There is a huge correlation between how much one can fail and how much success one can have. The more you fail increases your likelihood for future success. I’m happy to report that the sun is starting to rise for placefinder. com. It is finally becoming a great success at Binghamton University — so much so that we have already expanded to other schools. Others must think so too because we were recently featured in USA Today. Even though it was challenging, I would not trade the last three years of work for anything. Not only did I achieve business success, but I gained confidence and self knowledge that I don’t suspect I could have found anywhere else.

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©iStockphoto.com, Davide Rossi

Do You Speak Entreprenese? When traveling to new places, to get the most out of the trip, it is best if you can speak the language. The same is true in becoming an entrepreneur. When entrepreneurs talk of their business it sometimes seems that they are speaking a language all of their own. To understand what they are talking about it helps to know “what” they are talking about.

Unscramble the Entreprenese below. Then read the definitions on the right and identify the number of the word to which each definition applies.

1. QUIDIL ESTSAS 2. NEGAL VENTISROS 3. RAGTET RAMKET 4. NOTEVIDIRCASIFI 5. RENTUNERPEER 6. GINSHINIMID SNURTER 7. SACH WOC 8. INGWORNKET 9. LORDW KRAMET 10. POPNUTOTIRY 11. SKIR RATKE 12. REDEMOF

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Future CEO Stars

November 2007

Where others see problems, often times this what an Entrepreneur turns it into. Their almost natural ability to recognize this is what sets a true Entrepreneur apart and is an important key to their success.

This is what is emerging due to the increased frequency of international trade. Historically the customers an entrepreneur could reach were typically limited by geography. With the advent of the internet and advancing technology this is becoming less of an obstacle all the time.

This character trait is part of the definition of bein ing an Entrepreneur. People with tthis his trait tend to take-on challenges tthat ha others try to avoid. It is called ““calculated” because they have confidence in their ability to meet the challenge.

Typically it is the Entrepreneur’s customer base. It is who they want to attract to their business. Marketing efforts, advertising, packaging, and even retail space should be designed with this group in mind.

This is an independent business person with special personality traits. These traits can include a positive outlook on life, a natural drive toward problem solving, willingness to take risks, and an independent spirit. Sound familiar?

This is anything that brings in disproportionately largee returns compared to its original al investment. Low maintenance, low w cost and very valuable; this is what you want grazing in your business field.

Unscrambled Answers

Definition Answers

1. Liquid Assets, 2. Angel Investors, 3. Target Market, 4. Diversification 5. Entrepreneur 6. Diminishing Returns 7. Cash Cow 8. Networking 9. World Market 10. Opportunity 11. Risk Taker 12. Freedom

Top Left 10. Opportunity, Top Right 11. Risk Taker, Middle Left 9. World Market Middle Right 3. Target Market, Bottom Left 7. Cash Cow, Bottom Right 5. Entrepreneur

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

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

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

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

Not Horsing Around BY KACEY TWEETIN

I

magine yourself in ten years…where are you and what are you doing? It’s exciting to think you can be your own boss, do something you thoroughly enjoy and get paid for it!! Marketplace for Entrepreneurs and Marketplace for Kids is an incredible organization to help you get started. I first participated in Marketplace for Kids when my sister was learning how to turn on all the lights and I was the lucky one who had to run after her and shut them off. Like any older sister I got tired

Kacey Tweetin of Little Missouri Veterinary Clinic at Iowa State University of it, so I started Kid’s Lights Out, a little contraption to Velcro onto the switch with a handle attached so she had to do it herself! This idea opened a dozen more for me; I wanted to be the next person to invent the Post-It note!! Really, imagine the money that person made! Later on I realized I could use what I learned in the “Kids” program and apply it to a real life business.

compete, you must have the ability to put together a feasible, well thought out business plan and be able to present that plan to potential investors with confidence. By doing this, I received valuable feedback on how I can improve my plan, as well as the judges insights and opinions of my work. That’s what is helping me today to continue working towards my goal.

Today, I’m a veterinarian in a rural west Texas town with a booming practice concentrating on equine surgery. While in vet school, I took a business class which focused on organizing a plan to start my own practice someday. I submitted my plan to the Marketplace BOSS Business Plan Competition and received first place for my efforts. During the competition I made contacts with people who make a living helping young entrepreneurs get started, individuals I will recruit to help me make my business plan and dream a reality. Between this class and the things I’ve learned in my first three months since graduation, I’m comfortable taking this plan to a small community in North Dakota and starting my own clinic.

I’m beyond excited when I think of the opportunities that are out there for younger people. I want to live in rural western North Dakota and practice equine medicine. At 27 years old, I have a solid, feasible business plan to carry that out. I have the deepest appreciation for Marketplace and Marketplace for Kids. With their help and support I’ve come a long way from Kid’s Lights Out.

Since the competition, I’ve made contact with communities in North Dakota who are interested in my plan and are willing to partner with me. As with any venture, I’m facing hurdles along the way such as the needed start up capital and experience in running a successful business. I’m taking steps to overcome these hurdles not only by practicing my trade, but also by taking notes and gaining valuable experience. One of the most valuable lessons I learned was through the Marketplace BOSS Business Plan Competition. To

Kacey Tweetin

Future CEO Stars

The Marketplace BOSS Business Plan Competition is held in conjunction with North Dakota’s Marketplace for Entrepreneurs. The competition seeks to encourage the region’s best and brightest, to help “Grow North Dakota from Within,” by starting a new business or considering self-employment as a viable career option. For more information, log onto www.MarketplaceForEntrepreneurs.org

November 2007

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©iStockphoto.com, Alejandro Raymond

Experience Is A Great Teacher BY PETER DONKIN

I

am currently a high school student from the Entrepreneurship Focus Program of Lincoln Public Schools in Lincoln, Nebraska. I attended the Illinois Institute for Entrepreneurship Education “Young Entrepreneurs” conference in May of 07. As a new entrepreneur working on a patented idea for the future, this conference was very useful. It helped me learn about the steps I need to take to get my product from being just an idea to being on the shelf in your local store. I am very interested in holistic medicine. I guess my father, Scott Donkin, being a Chiropractor was a pretty big influence on me in this regard. My business consists of developing a product from the Agave Cactus. Although Agave, when distilled, is the prime ingredient of Tequila, my product uses it in a completely different and more positive direction. It primarily helps prevent adults from experiencing liver disease and brain damage from alcoholic beverage consumption. The way I see it, if people are going to drink Tequila they might as well try to be healthy about it. I eventually plan to have a whole line of products with a variety of flavors to choose from. My future plans include attending college in Scottsdale, AZ and taking my company with me. After all, if your product is based on cacti it is best to be close to them.

Peter Donkin with his Expo display. As for the IIEE conference all I can say is WHAT AN EXPERIENCE! I have been a part of many entrepreneurship activities in the past, but nothing compared to IIEE. The culture of motivation and initiative of the hundreds of students who attended was fresh and rejuvenating. So far, I have not experienced an encouraging environment that would compare to this. They kept me quite busy but absolutely every speaker, function and activity was exactly what I needed.

During this conference IIEE puts on a public exhibition called “The Ultimate Expo” which allows students to set-up product booths. The purpose of this is two-fold. First of all, it gives students the opportunity to explain their business plan. Secondly, we could actually demonstrate and sell our products. Being an expo participant, I got The Illinois Institute for Entrepreneurship Education great practice at (IIEE) invites young entrepreneurs and their instructors to describing my register for the 2nd Annual IIEE Young Entrepreneurs Conbusiness’ mission ference to be held May 1-3 of 2008 in the Chicagoland area. statement directly Students from around the country participate in: Business to those who may Workshops, Business Plan Competitions, The Young Entreprebe interested. neur Expo, The “E” College Tour, Networking with adult and I also saw first young entrepreneurs, presentations from nationally known hand how others have planned Keynote Speakers and more! For more information go to the fi nances and www.iiee.org or call IIEE at (312)587-9296. operations of their businesses. Most

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details that these plans included were perfect examples of the critical thinking that is necessary to run any business. Being new to the conference, my teacher only brought a few of us. After the conference she said she wished she had brought the entire program. This was a great experience for both students and teachers to experience together. The speakers and sessions were very valuable and memorable. The environment of IIEE was amazing. Everyone is so upbeat and positive. I would recommend this conference for anyone interested in entrepreneurship or networking. Being around such positive vibes helped me to become truly excited about not only my own project, but also the projects of others. If you’re going to take part in IIEE’s 08’ event I’ll see you there because personally I can’t wait!

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November 2007

Putting “the Benjamins” to Work I

t goes by many names - moola, cash, bling, green, assets, dead presidential trading cards, cabbage, dinero, legal tender - but regardless of what you call it, money is important. For some it is a score card for measuring success and for others it is merely a means to do the things in life that they enjoy. For entrepreneurs it is the life blood that keeps the entrepreneurial spirit moving toward success. It is a tool that must be used to ensure business growth. In other words “you have to spend it to make it” and you need to learn how to manage it. Believe it or not, you can have a reasonably successful operation and still end up “out of business” if you don’t vigilantly keep an eye on your cash flow. Seasonal down-turns, market fluctuations, unforeseen costs, and even too aggressive expansion can be devastating if you aren’t ready for them. Regardless of whether you think things will get better soon or not, the landlord, the power company, your suppliers and your employees still have to be paid. Also, don’t forget Uncle Sammy. Guess who gets paid last? That would be you. After you are past the beginning stages of your company’s life cycle, and actually are making a profit, there are many resources available to help you with financial planning. From high dollar consultants to free information on the web, there is a lot of advice out there. It is important to remember that financial advice can vary greatly and you need to use a reliable source. One good place to start is the National Council on Economic Education’s website www.ncee.net. It is not the intention of this article to give advice on how to make your money work for you. That would take far too long and is way too specific to review in general terms. That being said, it is important to remember that you are an entrepreneur. By definition that means

Future CEO Stars

November 2007

you are willing to take risks that others would avoid. One of these risks is, in fact, to let your money really work for you instead of putting it in a reasonably safe fund to grow at a snail’s pace. To be able to invest in solid opportunities that suddenly arise you have to have ready capital. Assets that can be quickly converted to cash when necessary can be the entrepreneur’s best friend. In fact, this is probably one of the best advantages you as an entrepreneur have over your larger and more powerful corporate competition. As an entrepreneur you have the freedom to react quickly when necessary. This is a definite advantage over large companies that have to have meetings, get approvals, work within corporate guidelines and basically, when it comes to progress, move about as fast as a Three Toed Sloth (according to Wikipedia, the Three Toed Sloth is famously slow-moving – it travels at a top speed of 0.15 mph). Sometimes “reacting” means investing assets now to ensure future returns. So be sure it’s available when you need it. Regardless of what you call it, how you use your money is very important. It can be the difference between an idea or dream and a successful venture. Learn what you can about managing your cash now so later, when you actually have some, you will make the most of it!

©iStockphoto.com, Lucilu

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“What’s NEW?” Are You Ready To Face NEW Challenges? The difference between an insurmountable problem and a difficult challenge is often merely a matter of perspective and attitude. Take for example Cal Fore of Sweat Monkey (page 5). His socially conscious website brings together a network of Florida’s young people to share their resources and work toward solutions of a myriad of problems. He faces challenges head-on and knows that solutions don’t come overnight. Step by step he takes on what others look at as unsolvable problems and creates solutions. Sometimes a challenge seems small until you take it on, at which point it seems to grow with each solution. Clayton Jenkins (page 11) started his company by accepting the summer challenge of YEA Biz to do so. As each challenge was solved a new one arose to take its place. He had to finance equipment, and then secure customers, followed by finding employees. He then learned about hiring friends, probably the hard way, followed by learning the tricks to build a positive reputation. The list goes on and on.

Often times the specifics of taking on a certain challenge my require you to alter your original plan. The girls of “Sweet Success” (page 25) originally wanted to work with Mallorie Hoke’s dream of opening a bakery. The scope of this undertaking was far too large for the limited start up capital and timeframe of the EntrePrep camp they attended. So they decided to focus on one specific product of their potential line and start from there. They put their heads together and “A Cookie in A Jar” was born! The way in which a person defines and addresses a challenge is, in many ways, the true definition of Entrepreneurial Spirit. Having a positive “never say die” attitude is the driving force that makes an entrepreneur a success. Although original plans may be altered and solving problems sometimes seems to be the norm rather than the exception, true entrepreneurs welcome the challenge! Put your skills to work - get involved with National Entrepreneurship Week in your area today! To learn how, go to:

www.nationalEweek.com

Feb 23 to Mar 1, 2008

Starting Out Rough BY STEVE PETTENATI

“H

ello, and welcome to Sally’s Retail Store!” Thus, started our business ventures experience in our Cattaraugus Allegany BOCES Career and Technical Education media communications class. We all became involved in a great business simulation experience. We became so involved that we couldn’t wait to present in front of each other. In this environment creativity was the norm and teamwork was not only essential - it came naturally. We had so much fun with it that we were glad to do it again and again to gain more experience. Believe it or not we were even eager to borrow money and pay back the loans! Our business and entrepreneurship experience began with exposure to Making Cents International’s “Start Out!” materials. We were introduced to the many challenges of starting out a new business called “Sally’s Retail Store”. Among many other business development challenges, “Sally’s” was looking to purchase new products to sell in its store. That’s when our interest really began to grow. We organized ourselves into teams and then attacked challenges that many retail businesses face each day. They ranged from creating new products, banking, financing, having to rent manufacturing space, risk-taking, adding value, selling, assessing market needs, working with customers and competitors, making purFuture CEO Stars

November 2007

chasing decisions, product positioning, promotion, and many other surprises. Personally, I like the creativity and flexibility the “Start Out” experience offered us. We learned the terminology of entrepreneurship as well as gained actual experience through activities and projects. The “Start Out” program was a lot of fun, except we went bankrupt. We took some big chances and the next thing we knew, everything that could go wrong, did. From what I understand, that definitely can happen in business and more often than you think. Even Donald Trump has gone “belly up”. The test of a true entrepreneur is what you gain from the experience and whether you take on the challenge again afterward. We learned some great lessons and according to Annastasia Bunk, a junior in the media communications program, “It’s so much fun that I can’t wait to get started again.”

Mr. Pettenati and Kassie Perry

Making Cents International “Start Out” materials (www.makingcents.com) are available to schools in our region, on-loan, through the Cattaraugus Allegany BOCES and New York REAL (www.nyreal.org).

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YOUR INVENTOR CENTER

www.YoungInventorsHub.com

Sweet Success BY JENNIFER HUGGINS, MALLORIE HOKE AND JANET DELGADO

T

he experience of launching a business was an eye opening one that broadened our perspective of what it takes to be an entrepreneur. Seeding a passion, recognizing an opportunity, developing an idea, launching and operating a company profitably took all the resources and individual ingenuity that our team pulled together to successfully create “Passion Sweets”.

Our team, Jennifer Huggins, Mallorie Hoke and Janet Delgado headed to Hebron, Maine in the summer of 2007 (not having a clue where this was or what to expect). We flew from Houston TX to Manchester ME, via Pittsburgh, and then got on a bus for a long ride to Hebron, Maine. We knew opportunity was knocking at our door and we went for it!

As students in Houston, Texas we were fortunate to have a tremendous marketing teacher, Mrs. Daigle at J. Frank Dobie High School. She selected us as candidates to hone our entrepreneurial skills at an intensive week long entrepreneurship camp called EntrePrep.

After a short meet and greet we were told of the plan to start up our own business that week using the $50 they provided as start-up capital. Many speakers educated us on all aspects of what is required to open a business including legal issues, thinking

©iStockphoto.com, Lucilu

through the business plan process, and risk analysis. We discussed finances, the ups and downs of businesses, and learned the importance of choosing the right partners. One of the major economic principles we learned was “opportunity recognition”. We brainstormed for days and ultimately decided to capitalize on Mallorie’s passion for starting up a bakery. Obviously we couldn’t start a whole bakery with only $50 so we focused on developing one specific product – cookies! Recognizing the opportunity and then actually developing a viable idea had us using all our available resources to work quickly and efficiently as a team. “A Cookie in a Jar” was created! We had to source all our products, develop recipes, add all the dry ingredients and compact them in a jar. The idea alone was not enough. One of the goals of the EntrePrep camp was to make a profit during its one day sale known as “business-for-a-day.” We achieved this by paying special attention to packaging and pre-selling our product. Our ultimate learning experience came from recognizing the opportunity and following Mallorie’s passion to make it a reality. We returned home with a much broader perspective of what it really takes to be an entrepreneur and all the risks that are involved in starting up a business. We are very proud of our success in creating a business and are now able to call ourselves actual entrepreneurs.

Jennifer Huggins, Mallorie Hoke, Janet Delgado

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November 2007

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©iStockphoto.com, Olivier Lantzendörffer

A Product Is Born BY BRIGETTE LIEUTENANT

A

good entrepreneur requires audacity, boldness, originality, and confidence that your product or service is a practical necessity in your customer’s lives. My family and personal life provided the drive and inspiration to launch my business “En attendant mon bébé” translated as “Waiting for my baby”. I graduated with a Bachelor degree in Social Service that led me to work with a family focused organization for a few years. Following that, I worked for 8 years in a Réseau Carrefour jeuness-emploi du Québec (employment agency for youth) where I had various responsibilities that provided a good foundation for me to start a business.

I came up with the idea for my business while I was hospitalized at l’ Hôspital Sainte Justine, while pregnant with my twins. Statistics showed that I only had a 5-10% chance of giving birth in the nine month time frame. I decided to create a weekly calendar to keep track of every week that passed. Every Monday I would check a box that corresponded to another week of pregnancy passed. It dawned on me during my three month stay in the hospital that I could create a calendar for other pregnant women and their families to help them keep track of their pregnancy!

has been verified by a doctor. It measures 12 inches X 18 inches and comes with magnets for the fridge. It offers important information on the development of the fetus at each stage along with some helpful hints for the future “mom to be”. Additional space is also provided for taking note of any useful information. My greatest hope is that it will be a useful and practical tool for pregnant women and their families, by keeping a record of each stage over the course of each week passed. The calendar offers images, a keepsake, and most of all the enjoyment of checking off the weeks passing by as the baby grows.

This project started during and after the birth of my twins Coralie and Gabriel born in very good health June 2005 at 37 weeks. That same year, I spent my time exploring, researching and analyzing the feasibility of my business. In 2006, I worked on more concrete plans and as a result received financing from the Fond d’emprunt communautaire féminin and, in February 2007, the first batch of calendars came out. I was feeling both nervous and excited, hoping that the calendars would be useful in filling a need. The marketing and promotion kick off began with an exhibition at “Salon Maternité Paternité Enfants, followed by a review in the magazine “Tout simplement Clodine” in 2007.

The calendar is presently offered only in French. It will be translated into English in 2008 and potentially other languages if the demand is there. As for distribution, I’m presently evaluating the possibility of selling in large scale bookstores and smaller publishing companies. The sky is the limit! For more information where to buy the pregnancy calendar, see: www.enattendantmonbebe.com. It is also available for purchase online. Interested distributors may reach me by email: [email protected]

Brigette Lieutenant

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Finally, it is important that I acknowledge the support and help received from my co-workers, my friends, my family, and my partner, who is the father of my kids. An entrepreneur is never alone in their adventure! Thanks to all who believed in me! If you would like more information about the Youth Entrepreneurship Challenge, please consult the following websites: www.defi.gouv.qc.ca www.jnce-ned.qc.ca www.cjereseau.org

The calendar is innovative, exclusive and Future CEO Stars

November 2007

Life After DECA BY MICHELLE WALKER

H

ave you wondered what happens to DECA entrepreneurs after high school or college? With the skills, mind set and drive acquired through their DECA experience many go on to highly successful careers. Here are a couple of examples…

Sassy Tails

Heather and Kim Madden of Sassy Tails.

Future CEO Stars

November 2007

©iStockphoto.com, Steve Dibblee

Derek Tracy of New Ends.

Even in personal conversations, it’s clear that no one is more surprised about the entrepreneurial journey called Sassy Tails (www.sassytails.com), than Kim Madden. With a background in not–for–profit and corporate leadership, Kim was enjoying the demands of a career and her young family. The corporate experience had offered Kim the opportunity to interact closely with the leadership of Fortune 500 companies like Dell, Kodak, BMW, and Target. But in the autumn of 2003, all of that changed. When faced with the personal challenge of what to do with her daughter’s hair, Kim and Heather, her daughter, launched a business quite by accident. Kim knew instinctively that she and Heather needed a solution they could BOTH agree on and it had to help them actually make it to school and work on time! Out of this quandary arose first the product and then the company known as Sassy Tails. Today Sassy Tails enjoys sales in more than 38 states and is branching out beyond the borders of the US. Kim energetically heads Sassy Tails while dedicating much effort and enthusiasm to helping other women launch their dreams into realistic business organizations. Her staff, including 9 year old Vice President, Heather Madden, consistently remark about the speed at which Kim moves but they just as faithfully share the enthusiasm that she has instilled in them.

DECA Accomplishments – South Carolina State Reporter from 1985–1986; Winner of the National American Spirit Award in 1986; Attended national conferences in Atlanta, GA and San Francisco, CA. Chapter – Lexington Technology Center 1984–1986 Lexington, SC.

New Ends Skateboard Co. Derek Tracy, founder & CEO of New Ends Skateboarding Co., started New Ends in 1997, with the vision of creating a company that would impact the skateboard industry. His ambition and drive for success has shown others his will and determination to overcome obstacles with his high energy and vivacious attitude towards business. Derek’s company works side by side with the music, art and fashion industry to help market and articulate the company’s direction. With a creative contracting team of artists and designers the company is constantly working on new designs. New Ends products are available at skateboard shops as well as their website’s online store (www.newendsskateboarding.com). Chapter – Sunrise Mtn. High School 2004–2006, Peoria, AZ For many more DECA success stories check out www.deca.org/whoswho.html Do you know an existing or former DECA/Delta Epsilon Chi member who has excelled in their career and should be included among DECA’s many successes? If so tell us about them at www.deca.org/pdf/whoswhonomination2.pdf

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Business Ventures in the Residental Construction Industry

©iStockphoto.com, Andriy Solovyov

Food For Thought

STOP — Know the Law!

Now is the time to be introduced to some of the aspects of planning for a self-owned business in the home building industry. Keep in mind, there is math in designing, constructing, selling and buying a home. Scientific principles are critical to the architect, the landscaper and the painter. History, communication, graphic design, computer design and basic skills such as problem-solving and critical thinking all have a connection to home building. Hit the books to make the big bucks!

So you want to build a house. Before you “start to dig” make sure you have all the necessary documents to start your project. There are several government agencies that will assist you to make sure your project is in compliance with area building codes and zoning ordinances. Frequently, there is a building official who reviews the plans, inspects construction and issues permits for construction and occupancy. There are also several pre-design surveys such as environmental assessments, land surveys, soil surveys and topographic surveys that are required. It’s important to know the county regulations prior to making any land purchases.

Plan! Plan! Plan! Know what makes your business exemplary. If you want to start a business, you must first develop a good business plan. Before embarking on the journey give some thought to how you will describe your business. Planning should answer these questions and many more. Make your goals realistic: • What products or services are you providing?

What is required for you and others to complete your project? Do you need a business license, building permit/license, contractors or sub contactors license/registration? Is there an exam you need to take? Is the exam taken annually to renew your license? Are you required to take continuing education courses annually to maintain your license?

• Who is your target audience/customer? • How did you select the location? • Who is going to operate the business? • Do you need employees?

Residential Construction Prepare for a career with a salary that meets your financial needs

• What is your marketing strategy?

Align your skills and interest with the job that fits you

• How much will it cost to start and run the business?

You get to choose from a list of over 100 career

• Can you project revenue, expenditures and profit? • How will you get the money to finance the business?

Future CEO Stars

November 2007

options

Set your sights on a great industry – Residential Construction

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

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

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

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

Our Sponsors W

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

When an organization really cares,

it shows!!!

Future CEO Stars

Appalachian Regional Commission

www.arc.gov

Buchholz High School

www.bhs.sbac.edu

The Coleman Foundation

www.colemanfoundation.org

DECA Inc.

www.deca.org

Home Builders Institute

www.hbi.org

Illinois Institute for Entrepreneurship Education

www.iiee.org

Junior Achievement Worldwide

www.ja.org

Marketplace for Kids

www.marketplaceforkids.org

MediaSpark

www.mediaspark.com

National Council on Economic Education

www.ncee.net

National Museum of Education

www.nmoe.org

NFIB Young Entrepreneur Foundation

www.nfib.com/yef

NFTE

www.nfte.com

NY REAL

www.nyreal.org

Prominent Youth, Inc.

www.prominentyouth.com

Réseau des CJE du Quebec

www.cjereseau.org

The University of Florida

www.cei.ufl.edu

Utah State Office of Education

www.schools.utah.gov

Youth Entrepreneurs of Kansas

www.yeks.org

Yourhomework.com

www.yourhomework.com

October 2007

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National Entrepreneurship Week is a Celebration of the American Entrepreneurial Spirit. It was established and confirmed by the US House of Representatives (HR 699) in 2006. It was created to provide a chance to show the world what you and Entrepreneurship Education are REALLY all about. As an Entrepreneur you know an opportunity when you see it, so get involved in your community today…

To Learn More go to ww ww.nationaleww ww.com

Feb 23 to Mar 1, 2008