October 2007 Issue

OCTOBER 2007 $2.50 US

In This Issue Playing It Forward Illinois Institute for Entrepreneurship Education

Seeing The Light Buchholz Academy of Entrepreneurship

An “ARRAY” of Opportunities Prominent Youth

Cesserly Rice, Owner of CR Sports Management

Is Your Invention Sitting on the Shelf? Take it to the

HUB! www.YoungInventorsHub.com

October 2007 In This Issue…

Celebrating Future CEO Stars!

4 Hill’s Fabulous Bookmarks

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 Shaping My Future My Way Réseau des CJE du Quebec

7 Business Ventures Home Builders Institute

8 Emily’s Advice 9 Playing It Forward IL Institute for Entrepreneurship Education

10 It’s October…Merry Christmas! 11 My Big Fat Entrepreneurship Competition Arizona State Department of Education

12 Life After DECA DECA, Inc.

13 Building a Better Future National Museum of Education

15 Everyone Wins! Marketplace for Kids

16 Entrepreneurs Through History 18 Seeing the Light Buchholz Entrepreneurship Academy

19 Island Entrepreneurs NY REAL

21 Ask GoVenture MediaSpark

22 NEW Skills National Entrepreneurship Week 2008

23 A New Home…A New Perspective NFTE

24 What Do You Expect? 25 An Entrepreneur’s Life Lessons Youth Entrepreneurs of Kansas

27 Candy Kids of San Juan County Utah State Office of Education

28 Take Note NFIB Young Entrepreneur Foundation

30 An Array of Opportunities Prominent Youth, Inc.

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:

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]

www.entre-ed.org/_contact Learn about the Young Inventors Hub at: www.younginventorshub.com

Join us!

Cover page background photo ©iStockphoto.com, Greg Sachs

Hill’s Fabulous Bookmarks M

y name is Mahera Badat and I attend Emmett and Sarah Hill Intermediate School in the Aldine Independent School District in Houston, Texas. My school is a fifth and sixth grade magnet school that focuses on economics and entrepreneurial spirit. All of the students in my school have the unique experi-

Mahera Badat of Hill’s Fabulous Bookmarks ence of learning their core subjects and all about how to establish a profitable business at the same time. At Hill EXCEL Academy, my classmates and I are busy with economic lessons and projects. Last semester, I took an economics and entrepreneurship class. In this class my teacher, Mrs. Guy, taught us about economics and how to run our own business. My classmates and I experienced everything about operating a business including: product development, marketing, business accounting, and sales. We chose business partners

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to start our venture. Many different businesses were created by my classmates. Some students started a lotion and soap-making business and others started a student photography business. My partners and I decided to start a bookmark business. We called ourselves Hill’s Fabulous Bookmarks Inc. My company went through each step of business planning. Hill’s Fabulous Bookmark Inc. developed a written business plan. We researched and designed the bookmarks. We made sure that they were unique and of high-quality. Next, we set a competitive price for our product. Then, my partners and I planned all of the marketing for our business. We broadcasted catchy commercials over the school’s announcements and we hung ads all over the place. Finally, my school held a campus market day to sell the different student-created products. Students, faculty and staff were invited to go on a shopping spree at our market. My bookmark business had a profitable day. We sold more products than all of our competitors. The experience of running my own business will stay with me forever. I gained many valuable tools about economics and entrepreneurship. There is a big difference between learning from a book and actually doing it, which really drives a lesson home. I know it certainly did for me! I look forward to the future and plan to use what I’ve learned about the business world to be successful in everything I choose to do!

Hill Intermediate and the Texas Council on Economic Education (TCEE) have worked together to bring resources and high quality professional development to the staff at Hill. Through a three-day economics institute and a number of professional development sessions, TCEE has worked with staff at Hill to develop a working knowledge of basic economic principles and teaching strategies to introduce those principles to fifth and sixth grade students using materials created by the National Council on Economic Education (NCEE).

Future CEO Stars

October 2007

©iStockphoto.com, Joe Peragino

BY MAHERA BADAT

Shaping My Future My Way BY SAMY PERETZ

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was 12 years old when I got my first computer and right away learned about all the wonders it held; computers have been my passion ever since. I have always wanted to be my own boss, but I never knew that it was possible for me. There’s something great about being able to do what I love on a daily basis and making a living out of it. My business idea came to me from my friends and family. They would ask me to fix their computers and wanted me to teach them how their computer worked while I was doing it. I also discovered that many people buy electronic devices in order to simplify their lives but do not have the time to learn how to use them optimally. That’s where my business comes in, it’s called Spank Solutions and it offers training in computers and hand held items such as PDAs and PC repair. I started my business while I was still in school. It was hard at first, but I found many people ready and willing to help me get my business going. I graduated from a 3 month “starting your own business” course with the knowledge I needed to begin my career. I received the majority of the help and guidance I needed from going to my local Youth Center (Carrefour Jeunesse Emploi NDG). It was there that I was introduced to the Youth Entrepreneurship Challenge. I was able to speak with an entrepreneurship officer who steered me in the right direction. By guiding me and asking me questions that helped me tailor my business, I was able to get the help that I really needed. A typical work day for me starts early and ends late. Because of the nature of my business, I have my office at home where I do the PC repair. I also go to clients’ houses to do computer and PDA training. This gives me the advantage of not having to pay for rent or utilities. All the profit I make gets reinvested in my business so that it can grow. The days go by really fast, but because of what I do it never seems like work to me. There is a lot to be said for loving your work. Some of the challenges I have faced include being able to juggle my personal life with my business, and getting customers to trust in my abilities. It’s not always easy to get customers to trust a young entrepreneur but when they do they don’t regret it!

Samy Peretz

I am very excited about my future and cannot wait to see what it holds for me. If you dream of becoming an entrepreneur and work hard enough, you can do it; I did! You can contact me by going to my blog: spankpc.blogspot.com or my email: [email protected] 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

Lessons I have learned: • Believe in your business, others will follow; • Take advantage of all the free help around you (youth centers, after school programs, entrepreneurship centers); • Use the internet, there’s a multitude of free resources there; • Get a mentor. Future CEO Stars

October 2007

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Future CEO Stars

October 2007

Business Ventures in the Residental Construction Industry It’s Exciting! It’s Fun! It’s Challenging! A

re you in high school thinking about graduation? Will you be seeking employment, looking for technical training, attending community college or headed for a 4-year college or university? What is your unique talent? Want an industry that is financially rewarding, gives you the option of working inside or outside and allows you to become your own boss? It’s time you explored the numerous entrepreneurial career opportunities in residential construction. It is well known that construction offers more opportunities than most other industries for individuals who want to own and run their own businesses. There is something for everyone!

©iStockphoto.com, Kativ

What you can do now! • Send in your entry to build your dream (play) house for Making a House a Home by December 2007 to win $200.00 for your entrepreneurship program. HBI will provide the playhouse plans. Here’s how: Ask your teacher to send the following information to C. Deanna Lewis via email [email protected] or fax 202-266-8999: • Name and address of school • Teacher’s name, department, phone and/or email • Student’s name (names of all partners if applicable) • Participation of a Home Builder Association, builder, contractor, etc.

There’s more: Start a NAHB Student Chapter. Become a bonafide member of the National Association of Home Builders (NAHB). Founded in 1942, NAHB is a federation of more than 800 state and local associations. About one-third of NAHB’s 235,000 members are home builders and/or remodelers. The remaining members are associates working in closely related fields within the housing industry, such as mortgage finance and building products and services.

The excitement continues! Experience each step of the home building process with Building Homes of Our Own, an interactive learning experience from the National Association of Home Builders. It’s a fun and challenging educational computer game that is FREE upon request to classroom educators. Ask your teacher to get a copy. It’s easy – just log on to http://www.homesofourown.com and make the request. Test your homebuilding skills as a developer, builder, general contractor, contractor, sub-contractor and supplier. It’s also an electrifying way to learn math, science and much more.

Answers to last month’s challenge Custom home builders generally: 1, 2, 5, 7, 8, 10, 11, 12 Production home builders generally: 3, 4, 6, 9, 13, 14

Find your local Home Builder Association at

Get information for Tools to Join and Starter Kit at

www.nahb.org/local_association_search_form.aspx

www.hbi.org/studentchapters

Future CEO Stars

October 2007

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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 an invention that I am trying to refine and put on the market. Unfortunately I need a lot of capital to make it happen. I have one source that is a venture capitalist. Can you tell me about what I can expect if I make this commitment? Sincerely, “Lookin F. Green”

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Dear Lookin: Venture Capital, as defined by Wikapedia, is “a type of private equity capital typically provided by professional, outside investors to new, growth businesses. [The capital is] generally made as cash in exchange for shares in the investee company…” Unlike Foundations and Angel Investors who typically back projects or organizations because they believe in the cause, venture capitalists are in it for profit (welcome to the real business world). So the first thing you should do, just like Micah Toll who had is own lawyer at 15 (see page 9), is seek competent legal advice. You need to realistically look at what you are getting versus what you are giving up. Having part of something is usually better than having all of nothing but you need to be sure that the part you have left is worth your effort. Venture capitalists are basically gamblers. In the definition of venture capital Wikapedia goes on to say, “…venture capital investments are usually high risk, but offer the potential for above-average returns.” These “above average returns” are what you are giving up, so be careful! Secondly, not all venture capitalists are the same. Some are more reputable than others. Do some research to find out what you can about who you are dealing with. The internet can be very helpful here. People who have had bad experiences will surely be sharing it as a warning for those who follow. Venture capital is not a bad thing. It goes a long way in helping the advancement of many things that would otherwise die in the idea stage. Just like the discovery and use of fire advanced mankind, venture capital can advance your invention. Also, as in playing with fire, be careful so you don’t get burned!

Sincerely, Emily the Entrepreneur

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Future CEO Stars

October 2007

©iStockphoto.com, Aloysius Patrimonio

Playing It Forward BY CESSERLY RICE

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acing changes can be very challenging for anyone. This is especially true for young athletes making the difficult transition from high school to college level. Many very gifted individuals fall through the cracks and throw away their opportunity to pursue their dream. Over whelmed by the daunting task of balancing academics with athletics, while maneuvering through the “who you know” network often associated with college sports, they tend to lose their positive mental outlook and give up. As an athlete myself, playing basketball and running track, I know that this situation is all too true.

Cesserly Rice, owner of CR Sports Management Often all that is needed to turn a seemingly hopeless situation into the start of an amazing college career is a push in the right direction, and that is where I come Future CEO Stars

October 2007

in. I seem to have a knack for motivating athletes. So I decided to turn my gift into a socially positive service that prepares young athletes for the challenges of the next level. My company, CR Sports Management, bridges this high school to college gap. We help our clients balance academics and sports, while maintaining a healthy lifestyle, and a positive mental outlook while they prepare for their college careers. I have always dreamed of working in the Sports Management field. Until very recently I always assumed that I would have to wait until I was much older to be able to get my start. Well, with the help of my Advanced Small Business Ownership teacher, Mr. Scott Steward, I discovered that there is no reason not to get started now. Even though I am currently only a senior at Gwendolyn Brooks College Preparatory Academy, I am also the owner of CR Sports Management. I charge my customers a small monthly retainer for my services. I have 3 clients with great potential to make it all the way to the NBA and I plan to be there every step along the way to help make it happen. As I had mentioned, I doubt that I would be where I am today without the mentoring of Mr. Scott Steward my Advanced Small Business Ownership teacher. Just like I help my clients achieve their goals through positive support he has played a critical role in helping me make my dream a reality. Mr. Steward is very involved with the Illinois Institute for Entrepreneurship Education. IIEE provides our class opportunities to network with other like-minded students throughout the state. It is also where I suspect Mr. Steward comes up with some of the great ideas he passes on to us.

In 2006 Mr. Steward was the IIEE Teacher-Preneur of the Year. If it were up to me he would win every time! I will graduate in June 2008 and I plan to go to the University of Illinois at Chicago and major in business and sports management. For more information, I can be reached by email at [email protected].

The Illinois Institute for Entrepreneurship Education (IIEE) invites young entrepreneurs and their instructors to register for the 2nd Annual IIEE Young Entrepreneurs Conference to be held May 1-3 of 2008 in the Chicagoland area. Students from around the country participate in: Business Workshops, Business Plan Competitions, The Young Entrepreneur Expo, The “E” College Tour, Networking with adult and young entrepreneurs, presentations from nationally known Keynote Speakers and more! For more information go to www.iiee.org or call IIEE at (312)587-9296.

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©iStockphoto.com, Lisa Thornberg

It’s October…Merry Christmas! H

alloween is here, are you prepared for the December holiday season? How about Valentines Day, Mother’s Day, or the 4th of July? They seem far away, right? Maybe so, but if your business is affected by them it’s best to be ready. Actually, if you see a Christmas boost in your demand, and you aren’t already prepared for it, you’re late. Have you noticed how early Christmas commercials start on television? It used to be that you didn’t see them until a week or two after Thanksgiving but today you might even see them before Halloween. Being prepared and thinking into the future are important attributes for entrepreneurial success. This may seem obvious but it is amazing how many new businesses fail to do it. That is until they learn the hard way. What does it take to be prepared for upcoming potential business surges? That really depends on the specific business you are in but there are some traits that are common. It is important to know your customers buying habits. For instance, if you create original exterior holiday decorations for people’s homes, when do they start buying them? This product certainly doesn’t fall into the category of the “week before Christmas gift rush”. More likely peak sales occur from late November until mid December. Now, of course some holidays fall more into the last minute category. Want proof? Go to any large grocery store

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on the evening of February 13th and see how many men are buying cards, candy and flowers for Valentines Day. In fact, to find the guys who really fail to plan, go on Valentines Day night. Getting to know your customer’s wants, needs and habits takes time, experience, and perception. Stay focused on what really happens instead of only paying attention to what you think “should”. Even if you think you know how and when your customers make their purchases you have to constantly stay in touch with trends in your market. Years ago there was a big craze for bean bag stuffed animals. There were designer ones, limited edition ones, cute ones, ugly ones, fuzzy ones, you name it and it was available. People were paying ridiculously enormous amounts of money for some of these toys called Beanie Babies®. Well, it seems all of a sudden these doll collectors woke up and the bottom fell out of this artificial market. People were buying as a supposed investment. They assumed that other people had value for these cute little toys; in many cases they were wrong and paid a big price. Customers can be fickle and markets constantly change. Staying in tune with trends can be tricky but is well worth it. Knowing your customers and your market can definitely take some of the uncertainty out of predicting what will happen. Even so, holiday surges can be unpredictable. It’s Halloween so, MERRY CHRISTMAS and HAPPY 4th OF JULY! Future CEO Stars

October 2007

My Big Fat Entrepreneurship Competition BY HEATHER LUVISI

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During my senior year in my advanced marketing class, part of our grade was to write a ten page business plan. To assist us in the preparation of the business plan we had a business partner work with us once a week for 8 weeks. She helped us learn how to structure the paper and how to find the information on the financial side for the business start-up costs. She was very knowledgeable about businesses and her insight helped us greatly. She then worked with us on presentation skills to prepare us for the Entrepreneurship competition. Once the paper was accepted, with my PowerPoint© presentation and notes, I traveled down to the competition held at the University of Arizona in Tucson. After each presentation the

Photo by Thomas Veneklasen

hroughout my high school career I have always had the ambition of operating my own business. I also have always admired how weddings are presented and arranged. With the combination of these two thoughts in mind, I entered the University of Arizona entrepreneurship contest held by the Arizona Department of Education’s CTE division. This competition, the Arizona Youth Entrepreneurial Awards, was coordinated and sponsored by the First National Bank of Arizona and the Eller School of Management (University of Arizona, Tucson).

Heather Luvisi presenting her plan.

judges asked questions regarding the structure and financials of each particular business. The questions were difficult. They required quick responses to show how knowledgeable I was on the subject I was competing in. It was amazing the talent level and the ideas that were presented by the final six high school students. It was very exciting to see the other presentations and competitors. I gained a lot of insight from their experience as well. While the judges were totaling the numbers, we got to watch the college level presentations. They had very progressive ideas and the competition was intense. The judges were really grilling them about their costs and the viability of their product in the marketplace. Their judges were venture capitalists and the students were competing for start-up financing. It was very high stakes and interesting to watch.

Photo by Thomas Veneklasen

This experience has given me great interest in owning my own business. I feel that more education under my belt will allow me to be more successful at creating my own business. I am thrilled to pursue my ultimate goal of becoming an entrepreneur. This article sponsored by The Arizona Department of Education.

Heather Luvisi, accepting her big check from Ken Zehm, Southern Arizona Market President, 1st National Bank of Arizona

Future CEO Stars

October 2007

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Life After DECA BY MICHELLE WALKER

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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…

1954, Inc.

©iStockphoto.com, Steve Dibblee

Delvin, with his friend,Tamika, graduating from Morehouse.

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Delvin Franklin graduated from Morehouse University in 2002 with a major in Business Management. Participation in DECA further developed his interest in marketing, networking and leadership, and speaking skills along with confidence to do anything he chose. Delvin started an investment holding company with two business partners, Nathaniel Irvin, III and Charles Joseph, called 1954, Inc–its name being a reference to the transformational and empowering decision of Brown vs. The Board of Education. Its primary purpose is investment and ownership of businesses specializing in intellectual property. 1954, Inc currently has 3 businesses and a non profit organization respectively called Wondaland Productions, 1Autumn, Blak Milk, and The Dark Tower Project. Wondaland Productions is a music production company that has produced for their signed artist Janelle Delvin Franklin (DECA Alumnus) -District President 1995– 1996; Texas DECA State President 1996–1997; National DECA President 1997–1998 DECA Chapter – Bryan High School, Bryan, TX 1994–1997

Verdict Systems Michael Hahn is currently the Chief Information Officer and co founder of Verdict Systems (www.sanction.com). Michael, along with co–founders Dan Bowen and Andrew Carpenter, started Verdict Systems in 1999 with the vision to change an industry. Legal technology was expensive and difficult to implement in 1999. They set out to develop a software package that was easy to use and affordable for any sized firm. Their primary focus is the development of Sanction, a legal presentation software package. In its simplest form, Sanction allows attorneys to organize and present their evidence from a computer in a trial. Their software is used nationally by the United States Attorneys Office and internationally by the United Nations. In addition, they are used by countless law firms of all sizes in all types of litigation. Currently, Verdict Systems has 15 employees and continues to deliver quality litigation software and services to an international list of clients. Michael Hahn (DECA Alumnus) - District II Vice President for Nebraska DECA 1987–1988; Central Region Vice President from 1988–1989 for National DECA, DECA Chapter - Columbus High School, Columbus, NE 1987–1989 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

Future CEO Stars

October 2007

Building A Better Future BY MICAH TOLL

Micah Toll

My advice for young entrepreneurs: 1. Brainstorm — the biggest companies started from the smallest ideas. 2. Listen to feedback from friends and acquaintances. They want to help. 3. Be prepared to spend some money before you start making money. 4. Seek out advice from professionals. There are small business administration offices located in many cities that can give you free or very inexpensive advice. 5. Invest in yourself and your ideas. You never know where your ideas can go until you try. Micah is an engineering student at the University of Pittsburgh and President of Disaster Rebuilding Solutions, LLC, an engineering research and development company that he founded to commercialize his invention for a new portable constructional beam. In October 2007, Micah was inducted into the National Gallery of Young Inventors and was a recipient of the first ever Edison Foundation Young Innovators Award. Micah can be contacted at [email protected] Future CEO Stars

October 2007

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n some ways I think that I have always been an inventor and an entrepreneur. The problem was that for years I came up with ideas that had already been invented. It was discouraging to come up with a great idea only to realize that I was too late getting there!

That changed in 2002. I watched on TV the horrific images of the war in Afghanistan with streams of helpless refugees swelling miserable shantytown relocation camps into masses of people living in improvised tent and lean-to structures. I was immediately struck with a sense that I could do better; I could find a way to house people in decent shelters that would give these people a feeling of worth and value. After months of developing crude prototypes, my design for a new type of structural beam began to take shape. Over the next four years, I entered my continuously improving prototypes, which had evolved into corrugated plastic stress skins filled with expanded polymer closed cell foam, in science fair competitions. It became apparent that I was on to something—an idea that had not yet been invented and could fulfill an enormous humanitarian need. The reaction of people to my invention led me to talk to an intellectual property attorney. My parents joked that I was the only 15 year-old with an attorney that wasn’t in some kind of trouble with the law. Fours years later, my invention, Portable Constructional Beams, is patent pending and I am President of my own engineering research and development company, Disaster Rebuilding Solutions, LLC.

in sufficient amounts to build and test full-sized buildings, rafts, and pontoon bridges, I had to find some money. I developed three businesses to raise capital. I became a balloon twisting artist, mowed lawns, and then got the idea to sell the plans for the balloon pump I built to do balloon parties on the Internet. I learned a lot about business: marketing, shipping, customer satisfaction, budgets, and plain hard work. It all paid off. I have traveled all over the United States, presenting and defending my research. I am enormously fortunate to be a two-time Intel International Science and Engineering Fair winner, I have been honored by having a near Earth asteroid named after me, and have won scholarships and awards from the National Federation of Independent Business, Intel Science Talent Search, National Collegiate Inventors and Innovators Alliance, Merit Shop, Association of Intellectual Property Attorneys, Corvair Society Of America, American Society of Highway Engineers, and Junior Science and Humanities Symposium. I am also the recipient of a full tuition scholarship from the University of Pittsburgh Honors College and a University of Pittsburgh School of Engineering Scholarship. Most of all, I am proud to have developed a product that will hopefully one day help people to rebuild their communities and their lives.

The road to success was not straight or easy. To fund the patent process and to purchase the materials to build my prototypes

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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.

©iStockphoto.com, Ryan Burke

Everyone Wins! BY KALEENE GRUNEFELDER

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n July 25th 2007 during our State Fair in Minot, North Dakota I had the distinct honor of interviewing the Region 2 Minot Marketplace for Kids Entrepreneurship Project winners. During these interviews I expected to learn a lot about the student’s products. I was pleasantly surprised to learn a lot about the students in the process. The following are samples of what was shared that day. Taylor P. of Bowbells, N.D. made the Cookie Clam. She said the most unique thing about her project was that it’s small and easy to use. Taylor also loves that it deals with cookies, who wouldn’t? Her plan for the future is to sell it in stores and hopes to some day see it on T.V.

will actually help her own grandma. Due to her physical condition she can’t bend over. Using the Laundry Lifter, she won’t have to! She has no plans to sell it in the future although she is sure it would sell easily.

Devin S. of Minot, ND

Ashley W. of Minot, N.D. made the Ez-Slide. She thinks it’s unique because it’s the only invention she knows of that deals with making a mailbox more accessible. She says it is very user friendly and plans in the future to sell a lot of them. Jonas and Kailan H. of Minot, N.D. made the Solar Mower. This very environmentally friendly product cuts the grass using purely solar energy. Their future plans include selling the actual product on their own but will keep the rights to the idea

Shania M. of Minot, ND

Tessa W. of Makoti, N.D. made the Dog Mat. This unique product makes wiping your dog’s feet as it comes into the house obsolete. One problem she notes is teaching the dogs to remember to use it!

Taylor P. of Bowbells, ND Devin S. of Minot, N.D. made See Salt. She started thinking about her project when her dad put too much salt on his food. “It was disgusting! Then he started to have problems with his cholesterol.” She said it took her about a month to make it because she had to find a way to make colored salt without getting someone sick. Shania M. of Minot, N.D. made the Laundry Lifter. Her project is unique and socially conscious because it is designed to help people who are injured or impaired. One of her motivations is that it Future CEO Stars

October 2007

Tiana D. of Minot, N.D made the Back Seat Sun Visor. Her project is unique because you can use it anywhere and there aren’t a lot of them available currently. She loves that you can put it anywhere in your car and would like to sell it in the future.

Some of the day’s winners.

Brittany K. of Minot, N.D. made ChocoBites. Although her product contains an already famous candy that could cause her difficulty in actually selling it, she can always eat her inventory! This experience at the fair was great for everyone involved. Marketplace for Kids does a lot to encourage these young inventors. In fact, they weren’t the only ones who were encouraged; I left with a few potential ideas myself!

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Entrepreneurs Through History ©iS

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ave you ever thought about where mankind would be today without the help of innovative thinking from aspiring entrepreneurs throughout history? With the way that one thing leads to another, it’s hard to say what the world would be like if just one of our key early pioneers had decided to be a goat herder instead.

For instance, would Hungarian born _____________________1 and his brother Georg have invented the ball point pen in 1938 to be sold in Gimbel’s Department Store in New York City if _____________________2 had not invented his printing press to create bibles around 1440 first? His movable type printing press is attributed to bringing man into the modern age. It made written material accessible and affordable for everyone. Without its creation would we be reading like we do today? And if we couldn’t read, would we really need ball point pens?

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Taking this idea one step further would __________________3, the force behind “user friendly” computer operating systems, be where he is today if our reading hadn’t improved through the need to find a more efficient way to produce Bibles? There was a shortage of professional copiers, known as scribes, because they were wiped out by the Black Plague. This shortage made the press’ invention a necessity for book makers to be able to stay in business. It might be a bit of a stretch to say that the Black Death (aka the Bubonic Plague), that killed between one third and one half of Europe’s population in the 1400s is responsible for Microsoft Word©, but it is safe to say the connection is there and Entrepreneurs made it happen. Another far reaching example is the relationship between the German Adolph Hitler’s attempt at world domination in the 1930’s and 40’s and the large variety of delicious pizzas we have available to

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be delivered to our homes today. During World War II many American men were sent off all over the world to defend against German and Japanese aggression. This left a void in the American workforce which was temporarily filled by the women they left behind. Prior to this period women didn’t typically work outside of the home. This solution worked fine until the war ended when the soldiers returned and wanted their jobs back. Many other issues arose from this situation but the bottom line here is many women continued to work. Since they weren’t staying home and cooking meals from scratch anymore there was now a void in the kitchen. An aspiring entrepreneur came up with a solution designed around the current fad of watching a new invention, television. The entrepreneur _____________________‘s4 solution in 1954 was Swanson TV Dinners. This was the start of a myriad of “heat and eat” meals that we still see Future CEO Stars

October 2007

Another example of the long reaching effects of entrepreneurial decisions is the case of the world’s first independent billionaire and founder of Standard Oil, _______________6. When ___________________7, founder of Ford Motor Car and father of mass production was designing his first car he had to make a decision on what fuel it would use. Prior to his fateful decision to select gasoline, cars ran on a variety of fuel types including kerosene, alcohol/ethanol and even steam. Our future billionaire convinced the car manufacturer that a by-product of the kerosene he produced for lamp oil, called gasoline, was a great option. It was plentiful, cheap, and could be standardized for consistency across the nation. The rest is history and today our dependence on outside oil sources for gasoline production is at an all time high.

Finally, not all entrepreneurial successes come from world changing events or have long lasting effects. Such is the case of __________________8, a German immigrant to America in the 1780’s and the world’s first independent millionaire. There was a demand, especially in Europe, for the skins of animals from exotic lands. Top hats made from such pelts were highly prized. America, being the New World, was the current source of these stylish treasures and this entrepreneur satisfied the need. So in the end the first millionaire entrepreneur made his fortune because people thought it was cool to wear beavers on their heads!

©iStockphoto.com, Emrah Turudu

and use today. In fact, his inspiration for these meals came from the mess kits he himself used in World War II. After a few years of these “tasty” meals Americans grew to depend on the convenience but wanted more variety. In 1960 another Entrepreneur came up with a plan. ___________________5, the founder and co-owner (with his brother Dominic) of Domino’s Pizza of Ann Arbor Michigan saw an opportunity for their restaurant to sell more pizzas by expanding their service. They offered free delivery instead of the typical carry out and dine in options of the day. Within 10 years this became the industry standard but back then they were the first. Therefore World War II started the chain of events that, inspired by enterprising entrepreneurs, provides us all with a variety of “home cooked goodness” at the touch of our finger tips.

These are but a few examples of the roles entrepreneurs have played in the history of mankind. To find more you don’t have to look very hard. On the other hand, name me one rich or famous GOAT HERDER!

Multiple Choice List John Jacob Astor

Lazlo Biro

Johannes Gutenberg

Henry Ford

John D. Rockefeller

Gerry Thomas

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©iStockphoto.com, Cory Thoman

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Tom Monaghan

Bill Gates

Answer Order 1. Lazlo Biro, 2. Johannes Guttenberg, 3. Bill Gates, 4. Gerry Thomas, 5. Tom Monaghan, 6. John D Rockefeller, 7. Henry Ford, 8 John Jacob Astor Future CEO Stars

October 2007

17

I

became interested in being a businessdirected student through joining the Academy of Entrepreneurship at Buchholz High School, Gainesville, Florida. Of course, the school itself is one of the top schools in Florida, but the Academy was something that stayed constant through my experience in high school.

Three key ideas that have helped me toward success are: 1. Never be afraid of stepping out of your boundaries. I had to get over my fear of talking to new people in order to succeed. Being able to accomplish this has helped me in every aspect of my life. 2. Take risks. As shy as I was I never pictured myself in a career where making new friends and having parties played a big part in my success. Had I never taken the risk I would have never seen the opportunity. 3. Always have goals. If you don’t have something to shoot for your business will be no more stable than a candle in the wind.

Sara’s candles from Partylite

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In the beginning I was shy and not sure of myself. During the four years I spent in

In any business there are always problems or “bumps in the road” along the way to success. One obstacle that I ran into was just getting my name out to people. Already having a part-time job and being a full-time student, it was difficult to promote that I was a Partylite Consultant as well. Fortunately I have found that just having more and more Partylite parties helps to expand my network through word of mouth. A person

Seeing The Light BY SARA CLARK the Academy that changed dramatically. I came to know, understand and enjoy business, in all of its aspects, which definitely brought me out of my shell. In fact, my senior year in the Academy took me further than I ever expected I could go - straight to DECA Nationals! My hard work, perseverance and intelligence brought me and my team all the way to Nationals in Dallas, Texas. After my senior year I had higher goals and aspirations for my future

who attends a party ends up wanting to host her own and so it grows. I have many plans for the future. I hope to expand my business even more by having more parties every month than I currently do now. I plan to hold a community show for people to walk in and look at the Partylite products and sign up for parties. This I know will help expand my business even more, because, like I said before, the key to being successful is having more and more Partylite shows.

Because of my successful experience with DECA throughout my years in the Academy of Entrepreneurship, I decided to take on my own business. Today, I am a Partylite Candle Consultant. It is important that I make the distinction that I work with Partylite, not for them. I sell candles to my own customers and I own every aspect of my business. I have total control and make all the decisions. Partylite is merely, in a sense, my wholesale supplier. It is the perfect business for me because I can either make it my hobby or do it full-time. Through my business not only have I expanded my network of friends, but I have also put the lessons I learned from the Academy to practice. I feel successful just knowing I was able to take the first step to having my own business. I am still in the process of expanding my customer base in Gainesville, Florida where I currently live. I started my Partylite business in November 2006, and have been growing ever since.

Sara Clark

Future CEO Stars

October 2007

Sara, Bethany, and Colleen with their Island Entrepreneurs

Island Entrepreneurs BY SARA PANCIO

M

y unforgettable journey began in January of this year when I was given the opportunity to travel from St. Bonaventure University, NY to Grand Bahamas Island to complete a seven-week student teaching practicum at St. Vincent De Paul Primary School. Along with my teaching responsibilities, four other student teachers and I engaged in social entrepreneurship projects through after-school and community service projects at the Young Men’s Training Association (YMTA) building in Hunters, Grand Bahamas. During those seven weeks, we served as mentors, tutors, and supervisors for the local youth. Due to the impact that the children had on us, and we felt we had on them, we had high hopes of coming back during the summer to organize a summer camp at the YMTA building. Our main goal was to provide a safe, educational and enjoyable facility for the children. We used skills developed through our work in St. Bonaventure’s Students in Free Enterprise (SIFE) organization to design our plans. Our vision became a reality with the assistance of the Rotary Club of Freeport, GB. The Rotary became a large Future CEO Stars

October 2007

factor in providing resources needed to return and run the camp. Generous support was also provided through community leaders in Hunters. In June 2007, I and two other St. Bonaventure students, Bethany Ryan and Colleen Irving, began week one of the six week summer camp we had hoped for. We quickly organized several educational and recreational activities for the broad age range of campers. Activities included math and writing exercises, science experiments, computer training, character education and the Rotary four-way test. The four-way test was developed for employees to follow in their business and professional lives. It is a guide for sales, production, advertising, and relations with customers.

concepts was introduced to the campers as they split up into groups to create their very own lemonade stand. They created posters advertising their business, came up with a slogan to help sell their product and decided on a price. The campers then ventured out into their community to sell their product. The project was a huge success, as the students profit doubled what they had invested. It’s safe to say that I am going to truly miss the students’ smiling faces running through the doors of the YMTA building each and every day. Thanks to the Rotary Club of Freeport, NY REAL, Cattaraugus County BOCES, and St. Bonaventure’s SIFE organization for their continuing encouragement and for helping make a better tomorrow.

Our primary focus for the first hour and a half of camp each day was preparing the campers for their upcoming school year. Students then engaged in activities such as basketball, relay races, scavenger hunts, water activities and various outdoor games. Students were also given the opportunity to experience what it is like to run a small business through Operation Lemonade. A short session on business

19

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)

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I’m having an important business dinner and need a crash course on etiquette — help!

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ere are some customary protocols: be punctual (not too late and not too early). Introduce people according to job title: lesser title to more important title, rather than the other way around. The napkin goes on your lap as soon as you sit down and stays there even after you are finished eating (but don’t take it with you when you leave). Your solids (bread) are on the left and beverages (glassware) are on the right. In a multi-course meal,

”

use cutlery from the outside in (furthest from the plate first). Don’t order difficult-to-eat foods or the most expensive meal on the menu. Start eating only after everyone is served. If you need to cut your food, cut three bites at a time. Warm up the conversation by trying to make a personal connection before you discuss business. The person who suggests the dinner meeting usually pays for the meal (unless they are your customer).

FAST FACTS 10 occupations projected to grow fastest in the United States from 2004 to 2014 1. Home health aides 2. Network systems and data communications, analysts 3. Medical assistants 4. Physician assistants 5. Computer software engineers, applications 6. Physical therapist assistants 7. Dental hygienists 8. Computer software engineers, systems software 9. Dental assistants 10. Personal and home care aides

56% 55% 52% 50% 48% 44% 43% 43% 43% 41%

Source: America’s Career InfoNet

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GoVenture Activity Word Search — Career and Life Skills

GoVenture educational games and simulations offer the fastest, most effective and fun learning experiences ever! Similar to how pilots train using flight simulators, highly visual and realistic GoVenture programs enable youth and adults to gain years of business, money and life experience in minutes. Become the CEO of a virtual business, a stockbroker trading on a virtual exchange, or navigate your way through the next 50 virtual years of your financial future. More than just fun and learning, GoVenture provides an experience that enables you to realize your potential, both in terms of what is possible and the wisdom of how to make it happen. GoVenture is used in homes, schools, universities, and businesses throughout North America and around the world.

Directions: Circle these words in the puzzle above. Words may be in any direction and backwards or forwards. Future CEO Stars

ADAPTABLE ANALYTICAL COMMUNICATION CONFIDENT COOPERATION GOAL ORIENTED LEADERSHIP

October 2007

ORGANIZATION POSITIVE RESPONSIBLE RISK MANAGEMENT TEAMWORK TIME MANAGEMENT TOLERANT

Visit the GoVenture website for many more free resources!

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” ? W E N “What’s Do You Have The Skills You Need? Becoming a successful Entrepreneur requires mastering a large variety of skills. Even if you are a “Natural” in the service you provide, that’s only part of the job. There is still a lot of other business that needs to be done. Cesserly Rice (see page 9) is naturally good at motivating athletes. What about what it takes to promote her service to new customers? How about keeping track of the accounts receivable department? These are skills that need to be acquired for long term success. Sometimes even the most basic of skills needed to perform the job must be learned to get started. Overcoming fear can be a big part of the challenge.

did she learn this skill, she has mastered it to the point that each candle party she has brings her new friends and new business. Sometimes, when going into a new business, the skills that you need to get it done don’t even surface until you are well underway. In cases like these the only place to learn these skills is on the job. To get a feel for on-the-job skill mastering, take the case of Carra Abbott (see page 30). The “arrayKC” team had to learn a lot about promotion, distribution, page design, and generally putting a magazine together, before they could even think about meeting deadlines. It is important to know what skills you have, what skills you need, and to stay alert for needed skills that haven’t even surfaced yet.

For example, just look at what Sara Clark (page 18) faced. Overcoming shyness to being able to host parties for complete strangers is a big feat! Not only 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

A New Home and A New Perspective BY OLEKSANDR V. MALYUGIN

T

here is no suchthing as a free lunch, but who cares? As long as you can get something for free you are happy! That is one of the essential ideas of Long Range Communications, Inc (LRC). LRC (www.lrcommunications.net) provides free wireless Wi-Fi internet to residential buildings. No, we are NOT a not for profit corporation so we DO charge the landlord for having this luxury in their buildings, but the price of the service is so small that landlords are happy to pay! My name is Oleksandr V. Malyugin, and I started LRC in 2003. I started this company because changes in my life allowed me to see a different perspective. Almost a year before I opened LRC my family moved to America from the Ukraine. Moving to another country is a huge challenge! You have to learn the language and at the same time adapt to the new environment. It was during this process of adapting, that I came upon my big idea. I noticed that many of my friends were still using dial-up to gain Internet access. I had been following news about wireless technology even before I left the Ukraine. The idea hit me to get an expansive line, split it apart and distribute it over a wireless network within a building. I decided to start by setting up this type of wireless network in my house. Once I

Future CEO Stars

October 2007

knew it worked, I started planning my busi business model, transforming my hobby into an actual company that could ould sustain itself. But that all was just a beginning! eginning! I spent weeks and weeks of improving proving business concepts, developing a state of the art technological base on the e equipment, and finally I focused on building ng my network. I would not say that I know now everything, so I went and registered for entrepreneurship classes with an organization anization called National Foundation for or Teaching Entrepreneurship (NFTE). They helped me improve my model and get legal help. I won the NFTE Entrepreneur neur of the Year award for my progress. As time has gone on, my company has gotten better and better. I am at the point where I can go to a landlord, dlord, open my laptop and show them how it works, and they’re convinced they hey cannot have their building operating ng without our Wi-Fi service. Entrepreneurship is contagious. agious. When I opened my business allll of my friends thought I was crazy. Now, w, most of them have followed my lead d and opened their own! If you have ann idea you can’t let fear, obstacles, or other challenges get in your way. Use the resources avail-l able to you. In the United States they are plentiful so there is no reason not to go for it.

Olexsandr V. Malyugin

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What Do You Expect? I

mage is a critical element to any business’s long term success. Have you ever decided not to eat at a specific restaurant because you did not like the way it looked on the outside? How about not even looking in a certain clothing store because you knew they wouldn’t have anything you wanted - the décor didn’t reflect your style? If so, you aren’t alone.

brilliantly. So you get your start up capital from a wealthy backer whose feet you also saved. Where are you going to open your shop? How about that trendy little building in the artsy section of the local campus? You could hang out in all the coffee shops. Or you could browse the other curio shops, book and music stores. You’d have plenty of time to do it too, because you won’t be selling shoes! Even if you called it “Gran-

©iStockphoto.com, Julie Felton

Many people say they don’t judge based on appearance but their actions definitely tell a different story. They say they shop based on value alone and all their purchases are based on logic. Well, if that were true thrift stores would be all the rage and malls wouldn’t exist.

©iStockphoto.com, Milorad Zaric

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ny’s Sole” it isn’t going to work because the area’s image doesn’t fit your market.

Regardless of the business you’re currently in or are planning to start, the image you portray is critical for long term success. The thing about image is it has to match what your target market expects. If you are too far outside of their expectations you won’t get a second look regardless of the quality of your product or service.

So let’s say you find a good location near an aging middle class neighborhood situated well between an orthopedic hospital and a whole lot of churches. Perfect, right? Not if you stick with that trendy name. Nobody is going to trust “Granny’s Sole” with their feet. You need to portray an atmosphere of safety, security, and medical experience if you want to get your hands on granny’s feet. Other good ideas include playing soft music from your audience’s generation and putting emphasis on good quality service. It would also pay to be prepared to patiently listen to long stories about grandchildren and pets because that comes with the territory.

For example, and it’s a ridiculous one but it proves this point, let’s say you have invented the world’s best orthopedic support shoe. Your grandma’s feet were your motivation, and you succeeded

Image doesn’t happen by accident. Many companies have either adapted their look or perished from their own rigidity. You have to match what your customer expects if you want their business.

Future CEO Stars

October 2007

An Entrepreneur’s Life Lessons BY JENNA SAVILLE

I

started my entrepreneurial career at a very young age. I was the type of child who grew up running several businesses out of my parent’s home. I once had a pizzeria in my basement, along with a grocery store and a lemonade stand on my street. The stand was only marginally successful because we lived on a cul-de-sac, but it taught me the importance of having a good location. I guess I am a bit unusual because, at the age of 10 when other kids were asking for bikes and toys, my Christmas present was my first real cash register. Needless to say, business is in my blood and I love everything about it. While growing up, there was not much emphasis on business or entrepreneurship in the basic education offered in my school. The question on the school counselor’s career survey was always, “What do you want to be when you grow up?” but there was never an option for “business owner.” My formal background in entrepreneurship began my senior year when someone told me about a class being offered called Youth Entrepreneurs of Kansas. The YEK class was described to me as a fun course where you sold stuff during lunch breaks to make money and went on a lot of field trips to buy supplies. What the course turned out to be was much different. Creating and starting a business from an idea is hard work. It requires a lot of planning and research which is exactly what YEK taught. I learned important lessons that, to this day, I still use. In fact, the support I received from my teachers and the YEK staff didn’t stop when I graduated. Even through college they were there to help with my entrepreneurship classes. I have found that this camaraderie and willingness to help is also quite common among entrepreneurs in general. It seems to come from the common bond of facing similar struggles and not wanting others to make their same mistakes.

Future CEO Stars

October 2007

You can never be too ready! Jenna Saville With the companies I have actually started, three out of six have failed. I have written business plans for eight others that most likely will sit in my desk drawer because something is missing, the market is not ready, or there is no desire for the product or service. Failing in a business venture is obviously the last thing you want to happen. From my education I have learned it is still something that I need to incorporate into my business model. If you assume that everyone will want your product or service and that sales are going to sky rocket you could be setting yourself up for disaster. There are always pitfalls and unforeseen challenges.

Use Available Resources! Contacting local business owners, past teachers, non-profit organizations and small business support organizations, definitely is very helpful. Also use the library as well as the internet. A key point here is to validate your sources. Not everything you read is true, especially on the net.

Know Your Product! Another area to look at is the actual need or desire for your product or service. Is it a fad, is it a onetime purchase item and is it cost effective? I had a very elaborate and desired product that was extremely labor intensive and costly to make. It forced me to either price the product at an amount beyond what the customers would pay or break even every time I sold one. Even though the demand was high it was pointless to continue.

Love Your Work! In the end it is important to find something that makes you happy. Entrepreneurs spend a great part of their lives devoted to their careers. It is very important, at least to me, to love what I am doing. I have found that if I don’t, I don’t do it for very long!

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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 receiverecognition for your achievement.

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

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

From left to right: Jordan Dayish, Andrew Dayish, Shelby Yellow,Tya Manygoats, Creedence Sampson and Nicole Keith

Candy Kids of San Juan County

S

top by any day after school and you will find a little candy store in Blanding, Utah, packed with students filling their mouths with sweet treats made and sold by the kids of Lickity Split Chocolate. The best thing of all…the store hasn’t even officially opened yet! Our grand opening will be on November 10th, but we have a great location and kids like to stop here after school,” says Andrew Dayish, one of the youth owners of Lickity Split. Andrew is a sixteen year old high school student and CEO of the company. He, with his youth board of directors, has been working to build this kid-owned and operated company for three years. And build it they did! The gross sales of this little business are expected to exceed $25,000 this year alone. Up until this point Lickity Split has only been an internet business. They make and sell chocolate in Native American designs on their website www.lickitysplitchocolate.com. The kids come up with product ideas, create molds, make chocolate, package and sell the candy. Andrew boasts that they have customers all over the world from Europe to New Zealand. He also employs adults to keep up with production demands when the kids are in school. According to Andrew, “We started out as a small internet business, and have bloomed into a company that is changing the world.” The kids did it all on their own without major funding of any kind. “We were just a group of kids who wanted to earn money to go to the movies”, says 14 year old Tya Manygoats who is the Production Manager. Tya, Andrew and four other Lickity Split kids make up the Board of Directors. They make all the important decisions about the company on their own. Recently, Tya told the following story about Lickity Split to a scientist at a regional candy convention. “It all started three years ago when a number of neighborhood children knocked on the door of a community volunteer, Elaine Borgen, who later became Future CEO Stars

October 2007

BY ELAINE BORGEN

our business mentor. We wanted to borrow money from her to go to the movies. Little did we know she was a business executive who didn’t believe in short-term solutions. She helped us identify what kind of business we could do and then did all the legal work with the state and federal government to get our business registered.” She went on to say “We didn’t know anything about making chocolate so we used the internet and researched what we needed to do. We had fun learning. At first we made simple chocolate lollipops that anyone can do. We sold these to family and friends. Little by little we learned more and gained more customers. Elaine helped us make a website and our business began to grow. We became more experienced at chocolate making and purchased our first machine from the profits of a big sale. Now we are opening a store. It will be a good investment we can tell already.” The only condition to remain being one of the “Lickity Split Kids” is they have to do well in school. They can’t continue as owners of the company unless they have a 2.8 or better grade point average. The youth board of directors must keep a 3.0 GPA. Just like with their business, they take their school work seriously. They pay themselves through profit sharing. They add up their sales for the month, pay taxes, subtract expenses, and what’s left over they divide up. According to Andrew “Sometimes we have good months and get a lot of money and sometimes we make very little. But, we always have fun making chocolate, and being with friends!” This Article Sponsored by the Utah State Office of Education

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Take Note! BY MICHAEL KURLANCHEEK

W

elcome to the American Dream. I am the 20 year old co-founder and president of operations at IUNotes, Inc, a nationwide academic support company that sells midterm and final exam review packets to college students. In 2005, I was awarded the National Federation of Independent Business Free Enterprise Scholars Award to aid my pursuit of becoming a small-business owner and entrepreneur. Currently, I attend the Kelley School of Business at Indiana University. The idea to start a note-taking service came on a whim, when two of my best friends and I began to discuss how frustrating it can be to study for exams when information is missing or inaccurate in lecture notes. With no help in site, we decided to create a solution to our own problems. Later that night, we purchased the URL to www.IUNotes.com and a dream was born. The company’s business plan is simple: hire reputable students to take high quality notes, upload the notes to a master server, market them to students taking those courses, and distribute them over the internet in protected PDF files. An online interface would allow us to minimize costs. If we were feeling frustrated with academic pressures, surely other students were too. After countless months of coding, the website was complete with a sophisticated credit card payment option and order pick up system. Next, we hired several note-takers and began to run trial advertising campaigns to see if the notes would sell. The response was overwhelming. IUNotes now employees over 100 note-taking employees per year and sells hundreds of notes in just about any subject you can think of. Notes sell anywhere from $4.99 per test to $24.99 for a full course review packet. Through marketing and word-of-mouth, the site has grown and at a phenomenal rate and gained the admiration of universities across the nation. To give back to the University, IUNotes donates free lecture notes and exam review packets to the Indiana University Department of Disability Services for Students. This allows students with disabilities to have free access to the IUNotes. com database. Recently, IUNotes opened its first franchise, www.UMDNotes.com, based out of the University of Maryland. We are currently in negotiations to open at several additional universities.

Michael Kurlancheek

Finding success requires perseverance and a lot of hard work. To future business owners, I would recommend that you treat your environment as a valuable asset to be utilized. If you have a dream…there is a way. You can contact me at [email protected]

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Future CEO Stars

October 2007

y name is Carra Abbott and I am a high school

M senior at Platte County High School in Platte County,

MO. We came up with the idea for array KC magazine almost two years ago in my then mentor’s kitchen. array KC would be a magazine that was put together, from beginning to end, by high school teens with a target audience of girls and guys from 14-22. This is something that Kansas City doesn’t have, that is to say until now.

An Array of Opportunities

In the first days, we met at my mentor’s house every week and discussed story ideas; it all seemed far-fetched to BY CARRA ABBOTT me then, but super-cool. We asked Mr. Scott Beeson, hat pays the President of Prominent Youth, a program that students to develop their own business and gives actual entrepreneurship opportunities, to fund our operation. He sought out financial backing for all of our computer programs, computers and the printing of the magazine. He helped us get our business up and running. Today we are creating our fifth issue. Working g at array KC is my dream job. I make my own n hours—which are normally still every day, y, because I love it that much. Before I took the job b at array KC, I had no idea what I wanted to do o with my life. Once we finished our first issue, and nd I had the satisfaction of knowing that I created ed something that cool, I decided that I wanted to be a journalist for the rest of my life. rse I am the Layout and Design Editor and of course it’s not easy. I am in charge of making sure all of ing the stories are handed in on time and for laying out each and every page in each issue. There are always stories that don’t get turned in, and last minute glitches that make me want to pull outt my hair, but I have to understand that this is part off the job. Journalism isn’t all glamour, it’s hard work. The feeling of completing an issue is a natural high. It’s great to look at all of the endless hourss I’ve g and spent for the past two months, constantly fixing owing reworking stories to make them perfect, and knowing that it paid off. The best feeling I get is when azine. people actually pick up a copy of the magazine. eading I get a great feeling knowing that they are reading what I have to say. Creating array KC has changed my life. I could have worked at any fast food joint in town, but instead I decided to use my creativity in a way that was productive. I have found my career as a seventeen-year-old student, which not many people can say. I couldn’t ask for anything more.

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October 2007

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

Arizona State Department of Education

www.ade.az.gov/cte

Buchholz High School

www.bhs.sbac.edu

The Coleman Foundation

www.colemanfoundation.org

Distributive Education Clubs of America

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

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