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“Workin’ Hard
and Lovin’ It”
Youth Entrepreneurs of Kansas
Growing My Own
College Education
NFIB Young Entrepreneur Foundation
n
Mooo-ving Forward
Marketplace for Kids
WHERE IS YOUR
INVENTION
TAKING YOU?
www.YoungInventorsHub.com
August 2007
13 My Summer Startup
YEABiz/Utah State Office of Education
Founder of National Entrepreneur-
ship Week, the Consortium for Entre-
Published by The Consortium for
14 Tea for Who? preneurship Education is a non-profit
Entrepreneurship Education
collaborative representing 90+ mem- 1601 W Fifth Ave. #199
15 Growing My Own College Education ber organizations from national, state
NFIB Young Entrepreneur Foundation Columbus, OH 43212
and local levels. Together we repre- www.entre-ed.org
16 These Kids Mean Business sent over 40,000 teachers and more mashmore@entre-ed.org
PBS Special — August 30, 2007 than two million students.
Publisher: Dr. Cathy Ashmore
19 Making A House A Home Our common bond is the philosophy Editor: Michael Ashmore
Home Builders Institute that “to be successful in the emer- Graphic Design: MediaSpark Inc.
gence of a new global marketplace, Graphic Artist: Jeff MacNeil
20 Planning…To Get Ahead entrepreneurship education should
21 NEW Ideas be a critical component of the overall Publishing Advisors:
National Entrepreneurship Week 2008 education experience as a lifelong Soorena Salari, Young Inventors Hub
learning process.” Al Abney, Consortium Advisory Council
22 Name Game
We invite readers to meet the Annual Subscription Available - $25.00
23 Mooo-ving Forward Consortium members at: Contact: mashmore@entre-ed.org
Marketplace for Kids
www.entre-ed.org/_contact
24 Emily’s Advice
Learn about the Young Inventors Hub
25 Have A Dream? at:
DECA, Inc.
www.younginventorshub.com
26 Inventorpreneurship
Join us!
27 Taking Charge
Prominent Youth, Inc.
31 Our Sponsors
Learning
Hard Lessons
BY MICHAEL SIMMONS
Urban Hip
BY ANGELA ROBINSON
carrying around my portfolio, I entered
Mr. Steward’s class in November of 06’
and got my chance.
to do a lot of networking and sometimes
it feels like it is never ending. Also, look
for resources and circulate your business in
Scott Steward, in my opinion, is the your community first. This really helped me
best entrepreneurship teacher at the to keep operating capital coming in. You
School of Entrepreneurship, on have to always put school first, and then
Chicago’s southeast side. He encour- concentrate on your business.
aged me to interview for the Illinois
Institute for Entrepreneurship Educa-
tion’s (IIEE) E-After School Program. The Illinois Institute for
The IIEE E-After School Program helped Entrepreneurship Education
me actualize my business and guided provides teacher training and
me through many of the challenges youth Entrepreneurship support
facing a new business owner. After going throughout the state of Illinois.
through the program, I was soon able to Their 2nd annual Youth
start designing and creating custom tee
Entrepreneurship Conference
shirts. They sold so well at our school
expo that I was soon receiving orders will be held May 1 -3 of 08’
and the next thing I knew I was hosting in Lincolnshire IL. For more
my own school fashion show. information or to enroll go
to www.iiee.org or call
One thing led to another to the point
Kandi at (312) 587-9296.
where I am now being mentored by
Erika and Monica Simmons of the
renowned Double Stitch Clothing Co.
Also my teacher has introduced me I am very excited about my future. I plan
to a manufacturer that currently works to attend Spellman College in Georgia,
with many well known hip-hop clothing major in Law or English, and minor in
lines. My designs are not only growing fashion design. In a lot of ways Atlanta
in popularity, and putting money in my is a long way from inner city Chicago
pocket, but have also helped me in other but I know with the work I have done to
ways. I was a finalist in the spring break prepare, I am ready.
business plan competition and took 3rd
You can contact me at
place in the annual city wide competi-
Aqutiewear12_co@yahoo.com
tion. In May, I attended the IIEE Youth
www.aqutiewear12.com
Entrepreneurship Conference for three
days at the Lincolnshire Marriott. I was
selected to compete in their Advanced
Business Plan and Expo Competitions
with students from all over the country.
Running a business is a challenge and it
keeps me extremely busy. On a weekly
Angela shows her designs at the basis I have to juggle my obligations
with the Local School Council, Junior
Institute’s competition.
Leadership Team, the Sew-Sew sewing
club, school and business organizations
like IIEE. It’s all paying off and custom
orders are already pouring in for my fall
Future CEO Stars August 2007
6
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!
* What problem are you solving? Send your story, name, grade, school, and home ad-
dress to Mike Ashmore, editor of “Future CEO Stars” at
* How do you plan to get the money mashmore@entre-ed.org (please use the words “Student
you need to make it happen? Submission” in the subject line) or mail it to Consortium
for Entrepreneurship Education,
* Would there be any problems in 1601 W Fifth Ave. #199, Columbus, OH 43212.
making it happen?
Ask GoVenture FAST FACTS
”
about to go into business Slogan Company
1. Diamonds are forever DeBeers
together. Any advice? 2. Just do it
3. The pause that refreshes
Nike
Coca-Cola
4. Tastes great, less filling Miller Lite
Yes! First, clearly establish each person’s her role — either because of personal 5. We try harder Avis
role in the company by assigning choice or for reasons beyond his or her 6. Good to the last drop Maxwell House
7. Breakfast of champions Wheaties
responsibilities and expectations, and control — that there is a clear way to 8. Does she, or doesn’t she? Clairol
what the consequences are for not meet- dissolve their interest in the company. 9. When it rains it pours Morton Salt
10. Where’s the beef? Wendy’s
ing them. Write this down on paper in
The first shares of the new company
as clear language as possible for all the As selected by the editors of Advertising Age.
(called “founders’ shares”) and stock
business partners to sign.
options should be structured so that they
This is not because you don’t trust your are allocated based upon each partner’s
partners — if you didn’t trust each other
you wouldn’t be going into business
future performance.
For example, what happens if a partner
About GoVenture
together!
is given 30 percent of the company’s GoVenture is a line of award-winning
Do it for two reasons: first, make sure shares upon incorporation but that part- educational games and simulations,
there hasn’t been any miscommunica- ner decides to leave the company a including software, board games,
tion, which frequently occurs in such week later? mobile games, website, books, and
instances. And second, do it to make more.
You’ll stay friends longer if you have it on
sure that if a partner cannot fulfill his or
paper up front. GoVenture educational games and simu-
lations offer the fastest, most effective
and fun learning experiences ever!
www.goventure.net
Future CEO Stars August 2007
8
“Workin’ Hard and Lovin’ It”
BY JASON BAYLESS
I absolutely
love being an
entrepreneur. Few
With my 64 page maga-
zine in hand I was in
business, or so I thought.
career paths offer In my first week I was hit
the freedom that with major bad news.
comes with being My largest client, who
the purveyor of provided me with 20 pag-
your own success- es of listings, had decided
ful enterprise. In to drop me. This was my
my quest for knowl- first shot at real success
edge I discovered and failure was not an
that traditional option. It took a little time,
education provides and a lot of effort, but like
a lot of useful infor- a true entrepreneur I hit
mation but nothing the streets to fill the void
can replace actual that this potential disaster
experience. created.
My first taste of en- Through continued effort,
trepreneurship came my company did more
my senior year in than merely bounce back.
high school when We have expanded to
I enrolled in an Jason and his son, Cohen, hard at work. a 72 page publication
Entrepreneurship and growing. Also, in
class sponsored by keeping with the market
Youth Entrepreneurs For my class project I created an on line trend that made this company available
of Kansas (YEK). This class opened wedding planner business. It was such to me in the first place, we now provide
my eyes to career paths I never knew a success that not only did I win first our clients with extensive online exposure
existed. Free enterprise where anyone in the city in YEK’s annual competition, unmatched in our area.
can buy, sell and create value for profit, but I also was able to partner with an
If you dream of becoming an entrepre-
what a concept! I was hooked from the actual web designer to create a fully func-
neur, and you work hard enough, an
first day. tioning site that is still in business today opportunity will present itself. When you
(WichitaWeddings.com). I didn’t realize decide to chase your dream you will
it then, but I now know YEK taught me work harder and longer than you knew
Secrets of Success the critical basics that I definitely needed you could. The funny thing is, you really
• Sell, Sell, Sell: It may take in my future success. won’t mind and in fact you will find it
several attempts but persistence Soon after I completed my college educa- hard to imagine doing anything else.
pays off. tion, by keeping my entrepreneurial eyes
open, I found my first opportunity. A local
• Create Value: if you are not franchise named The Real Estate Book, a
creating value for your customers magazine used to sell houses, was for
they do not need you. sale so I checked it out to find out why. It
• Sincerity & Integrity: Make appeared to me that the publication had
grown stale and the owners hadn’t kept
sure you’re honest with your
up with market changes created by the
customers and work hard on computer age. I knew from my YEK days
their behalf. There is no better that all this business needed was some
advertising than word of mouth. Entrepreneurial hustle so I went for it.
If you’re like most people you probably say Michael Dell didn’t know that putting together
something along the lines of “Not much, what’s computer components in his garage would make
new with you?” him a billionaire one day.
Well, there is now a better answer. Bill Bowerman was just trying to make a better
running shoe for his University of Oregon track
“New” is National Entrepreneurship Week, team when he used his waffle iron at home and
celebrated Feb. 23 thru March 1, 2008 created the first NIKE running shoe.
This annual week long celebration features Henry Ford tried to come up with a more ef-
successful entrepreneurs as well as education ficient way to build a car. Although his company
programs providing experiences designed to failed three times, he finally got the model T right.
encourage entrepreneurial thinking nationwide.
Do you have a NEW idea? Maybe it’s time to
NOW is the time to get ready for NEW, and make it a reality.
in the process, start creating your future.
Get involved with National Entrepreneurship
Week in your area TODAY! For more
information go to:
www.nationalEweek.com
CHALLENGE:
All of the boxes below contain the names of real ventures.
Think of at least 3 possible businesses that could have each name.
(The real business purposes are listed at the bottom of the page.)
1. 2. 3. 4.
ASSETS Lids Old Snip Its
5. 4
Mule 8.
6.
The Good 7. The
Cat’s Wheels ReStore Chop
Pajamas
10.
Chasing Shop
9.
e.e. cats the Dream
EXTRA CHALLENGES:
1. Grade each business A-F on the effectiveness of its name.
Justify your grade.
2. Come up with a better name for each type of business.
Q Dear Emily:
What exactly does the word “entrepreneur” mean and where
did it come from?
Sincerely,
“Bemused and Confused”
A Dear Bemused:
An entrepreneur (a loanword from French introduced and first defined by
the Irish economist Richard Cantillon) is a person who undertakes and
operates a new enterprise or venture and assumes some accountability for
the inherent risks.
According to David Gladstone in his book: Venture Capital Investing,
“The term entrepreneur has undergone a change in meaning since the
late 1800s, when it was used to refer to the “director or manager of a
public musical institution” (see The Oxford Universal Dictionary). Entrepre-
neur derives the French verb entreprendre (to undertake), which, however,
had already entered English many years earlier in the form of enterprise,
from enterpris, the past participle of entreprendre. Enterprise first appeared
around 1430 and was commonly used to refer to an undertaking of bold
and arduous nature. The person carrying out the enterprise was known as the
enterpriser but eventually lost ground to entrepreneur, the primary meaning
of which became “one who organizes, manages and assumes the risk of a
business or enterprises.”
Kristi Jo Webb (in pink jacket) and the other NYReal Goal Achievers outside of Stadium.
kids
classroom, letting students learn firsthand about
the risks and rewards of operating a small business.
TAKE TIME TO TEACH MENTORING PROGRAM