Professional Documents
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Utah State Office of Education
In This Issue
Lemonade
Shlemonade 6
Bryan Sediqzad
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Are you getting ready for summer vacation? Well, so are we.
Future CEO Stars Magazine is not published during June
or July but, never fear, we will be back in August.
In the meantime go make lots of money, have fun, and
be entrepreneurial in all you do!!
Lights,
Camera, Success! My “Secrets to Success”
BY ANDREW NAPIER • Set goals and create a business
plan to accomplish them. For
example one of my goals was to
Q: What’s a good way to practice Our motive was to make a profit by Things I learned:
starting up your own business? buying snacks and beverages in bulk.
This business idea proved to be more • Importance of planning every aspect
A: Open up a lemonade stand
challenging than originally thought. One
• How easy it is to not keep every
Q: What’s the easiest way to practice of the major mistakes we made was not
minor detail in mind
starting up your own business? figuring the start-up costs in the equation,
which made a huge difference. • Lemonade stand is a great represen-
A: Open up a lemonade stand
We soon realized how important tation of what its like to run a real
Q: What’s the cheapest way to practice budgeting is for a business, especially business (key things involved are:
starting up your own business? during the start-up phase. marketing, planning, constructing the
product, working as team member,
A: Open up a lemonade stand
selling real life products to consumers,
Questions we should’ve asked
copyright issues)
before opening:
Three High School guys, each from • Although we chose to do a lemonade
different parts of the country, decided to • How much does location matter? stand, Ice Cold Inc., it was more of a
open up a lemonade stand after meet- learning experience to build upon and
• How could we keep the beverages at
ing at EntrePrep Summer Institute to learn helped me answer some of the ques-
a cold temperature for an extended
about entrepreneurship. tions I had about starting a business
period of time?
It showed me some of the real as-
EntrePrep Summer Institute, funded by the
• How could we get the same lem- pects of business that not everyone
Kauffman Foundation, was designed for
onade mix: water ratio exact every learns until it happens to them (sunk
the sole purpose of teaching high school
time? costs, start-up costs, etc.)
students more about entrepreneurship.
This camp-like experience explained • Would it help if we put signs up, or if • Making my own business, lemonade
every detail of starting up a business, we just had a good location to begin stand or not, took a lot more time and
more specifically, business management, with? effort than previously believed.
operating skills, and startup techniques.
• Should we have branched out into • I figured out that if I had another
Our mission was to start up and run a 3 lemonade stands with 1 group product that went along with the lem-
‘business-for-a-day’. We could choose member at each station to maximize onade it would’ve been easier to sell,
any business we want, operate on our profits? and could’ve made more profit.
own or in teams. We decided to try a
• Will there be other beverage stands • Location was more of a key factor
good old fashion lemonade stand.
around our location? than I had thought.
Secret of making money at a stealing there customers. They don’t my eyes and showed me that creating
have to pay for the products because a business is possible for anyone who
Lemonade Stand: it comes straight from the pantry. is willing to accept the challenge. I now
• Do it when you are 6 years old! They really don’t have to worry about feel that I am far more educated with
• For a 6 year-old all they have to advertising either, because people aspects of the business world than other
think about is making the lemonade driving by will definitely see a couple peers my age. I now know that being
and getting things ready to sell. They 6 year-olds on the side of the road. an entrepreneur is something that I can
don’t have to worry about location, All of these concepts were things we pursue with confidence as I mature.
because their parents aren’t going to had to worry about, and were things
allow them to sell it anywhere other that were setting us back, rather than
than their own street corner. Also they pushing us forward and making our
really don’t have any competition, business profitable.
which makes it a monopoly. Being a EntrePrep was very significant to me, and
monopoly, they can have pretty profit- allowed for many new insights. Before I
able prices, without worrying about attended EntrePrep, I had little idea of
someone making a better deal and career opportunities. This camp opened
Activities include
• Buying, Pricing, and Selling Products • Interacting with other players through Home Version
(called “Gwidgets”) question and answer, drawing, charades, $49
trivia, word puzzles, and more!
• Managing Employees
• Evaluating success by calculating Equity
• Paying Expenses Education Version
• Preparation of Balance Sheet and Profit
• Managing Cash Flow with teacher
and Loss statements (optional) resources
• Investing in Product Quality and Marketing
• Accounting General Journal and General
• Negotiating with other players Ledger (optional)
$129
• Balancing work and life • and much more!
“
while you’re young
What are vision and
The more time you have to save, the
mission statements
”
greater the returns you’ll earn through
compound interest. Consider this
and are they important? scenario:
Every business needs a defining direc- A vision statement tends to be less mea- Person A
Invests $1,000 per year from age 20 to 30.
tion and objective to strive for. Whether surable. Notice the term “leading” is not 7% annual interest.
you call this a vision or mission is not as exactly defined. A mission statement is Retirement income at age 65: $168,514
important as having a clear picture of the more specific and can be measured to Person B
end in mind. track progress. Invests $1,000 per year from age 30 to 65.
7% annual interest.
Vision and mission statements should Common mistakes: Retirement income at age 65: $147,913
clearly articulate why a business exists, Person A invested early and for only 10
• Not having a vision or mission years. Person B invested much later, so
and include a brief explanation of the even with 35 years of investing still ends
statement.
desired future state of an organization. up with much less money.
Let’s differentiate between them by saying • Mission statements which are too Source: .S. Department of Labor Employee Benefits
that a vision statement identifies where vague. Security Administration
My NFTE Experience
BY JULIUN KINSEY
©iStockphoto.com,
Giovanni Banfi
StudentsTeaching Students
BY SARA-ANN BALDWIN
onstruction offers more opportu- related classroom instruction. For for employment in a variety of
C nities than most other industries each year of the apprenticeship, positions in the construction in-
for individuals who want to own and the apprentice will receive 2,000 dustry. Graduates are employed
run their own business. Contrary to hours of on-the-job training and as construction planners, site
popular belief, you will not be able a minimum of 144 hours of supervisors, schedulers, and
to successfully start a construction related classroom instruction. contractors. Typically, courses
business without first gaining skill in the construction management
• Technical Certificate (TC)
sets specific to your area of interest. program are a blend of practical
programs provide education
Now, while you are in high school, is courses with emphasis on hands-
and training in conceptual and
the time to explore the varied number on experiences and classroom
technical skills for specific occu-
of options that may easily lead you based courses which emphasize
pations. Each program contains
to owning a thriving construction management principles, estimat-
a sequence of required courses
business. Give construction some ing and scheduling.
in a recognized specialty.
thought…trades contractor, builder,
The length of the program typi-
developer…there’s potential for a
cally varies from one to twelve
lucrative business. How do you get
months. Resources
started? Consider these options:
American Association of
• Associate of Applied Science
• Apprenticeship programs are Community Colleges (AACC)
(AAS) degree programs pre- www.aacc.nche.edu
commonly registered with the
pare students for careers, ca-
Federal Government. These American Council for
reer changes and career ad-
are called “registered appren- Construction Education (ACCE)
vancement. Completion of this
ticeship programs.” Registered www.acce-hq.org
program may preempt years of
apprenticeship programs meet
apprenticeship in the construc- U.S. Department of Labor
federally approved and indus- Employment U Training
tion field. Typically, a two-year
try-endorsed standards relating Administration
program.
to job duties, related classroom www.doleta.gov/OA/eta_default.cfm
instruction, wages, and safety • Associate of Science (AS) de-
and health conditions. gree programs prepare students
T IS
FIND A CAREER PATH THA
for careers and for transfer to UNIQUELY DESIGNED TO
FIT YOUR
• The length of an apprentice- PED TO FIT
four-year institutions. At some NEEDS DISTINCTIVELY SHA
ship program depends on the YOUR PERSONALITY
schools AS curricula can be tai-
complexity of the occupation. AND
lored to meet students’ specific
Apprenticeship programs range HAS OPPORTUNITIES IN LOC
ATIONS
transfer objectives. Typically, a STATES
from 1 year to 6 years, but the THROUGHOUT THE UNITED
two-year program.
majority are 4 years in length. RESIDENTIAL CONSTRUCTIO
N:
RK!
IT’S A GREAT PLACE TO WO
During the program, the ap- • Bachelor of Science (BS) degree N A BUSINESS!
IT’S A GREAT PLACE TO OW
prentice receives both structured, curriculum in construction man-
on-the-job training (OJT) and agement prepares graduates
For details contact: C. Deanna Lewis via
email at buildacareer@hbi.org or phone
at 1-202-266-8927
or write to mashmore@entre-ed.org
with subject line “3 + 1 offer”
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Dönge
Onur
.com,
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Social
©iSto
Entrepreneurship
BY KELLY MEJIA
A s I reflect
ct on my journey thus far through high school
I have experienced personal growth and maturity.
school,
With the exception of cleaning up some grammar, spelling, and instruction sheet to give you some suggestions on how to put
other technical stuff your English teacher wanted you to pay your story together. Just write us (at the address below) and
attention to, we’ll leave your message the way you send it to we’ll be glad to send it to you.
us. It is, after all, your message and this is your magazine.
What have you got to lose? Here is a free chance (there is
All we really need is one page (typed) with a picture or two absolutely no charge for students to submit their story) to get
(1500kb jpeg files or larger are best) about what you want to no cost advertising for your product, web page or service.
say. Of course, the articles and pictures you send become the Opportunities like this don’t happen often.
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may be used for other promotional purposes by the magazine This is your magazine. It’s reaching thousands of classrooms
and its parent company, The Consortium for Entrepreneurship each month. This is your chance to help yourself and help
Education. others in the process.
If we use your story, we will get your final approval of all edits Change has to begin somewhere and often the best way to
before we print it. To make it easy we even have a writing pay something back is to pay it forward!
Sincerely,
Mike Ashmore
Editor, Future CEO Stars Magazine
mashmore@entre-ed.org
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