Entrepreneurship Education in Oklahoma

1. Entrepreneurship Education in Oklahoma Presented by: Glenn Muske muske@okstate.edu 405-744-5776 Other authors: Billie Chambers, Oklahoma State Nancy Stanforth, Kent State Michael D. Woods, Oklahoma State Hong Yu, Oklahoma State

2. Objectives • Explore entrepreneurship and role of small business in communities • Examine what makes an entrepreneurial climate • Introduce 3 Entrepreneurship Curriculia: • “An Exploration of Entrepreneurship” • “Learn to Earn: Lawn Care and the Environment • “Visual Merchandising”

3. Creating a Vibrant Community & Economy 4 Required Elements • Enhance human capital • Create an entrepreneurial climate • Build the digital capacity • Expand civic engagement + in Rural areas • Change the criteria for success – look beyond a single focus • Speak with one voice for all rural • Build from inside out

4. Creating an Entrepreneurial Climate • Entrepreneurship must be an explicit economic development strategy • Community must embrace and nurture entrepreneurs • Access to quality workers/consultants/mentors • Supportive public policies

5. Common Questions/Issues • 2 primary 1. What can I do? – Opportunity - Don’t ask “Do I have what it takes?” or “What are my skills and talents?” 2. Where can I get a grant? – Funding - Often no idea about what business they they want to start, their own ability to provide some capital, their own credit record or what they need.

6. The numbers • Small businesses – 16 million nonfarm • 50% of private workforce • Create 2/3 of all new jobs • 52% of all nonfarm output

7. The numbers • Family businesses – 13.8% of households • South – 3.2 million - $109 billion transferred • Home-based businesses – 5% - 10% of hh • Range – 4% NY urban to 18% Vermont rural (IA-10%)

8. More “So What” • Home-base businesses • 1/3 of all companies started • Original foundation for all economic activity • Family businesses • 50% of business revenue • Disproportionately large in plains & rural areas • Families have higher than average income

9. An Exploration for Entrepreneurship Part 1: Turning your passion into a career Part 2: Making a living from your passion An introduction to the skills needed to operate a successful business. Includes PowerPoint slides with accompanying lecture notes, video clips of entrepreneurs on various topics, and activities.

10. An Exploration of Entrepreneurship: Turning Your Passion Into a CareerCourse Syllabus Course description: Study of the process of getting the idea for the business, honing that idea into a workable business, finding a target market, and promoting the business. Course Objectives: Identify characteristics associated with small business entrepreneurs. Develop the ability to use current skills to identify viable opportunities for entrepreneurship. Evaluate business profiles and plans. Identify steps in the design and production processes. Develop and evaluate promotional plans. Specific topics will be: Qualification and characteristics of entrepreneurs Personality traits Ownership goals, objectives and risks Opportunity Spotting How to find hidden opportunities in your field Business Profiles and Plans Type of business: service, value added, retail Market analysis Business image, location, projected sales Product/Service Development Design process Production process and work flow Advertising and Promotion Establishing objectives Promotional budget Creative concept, projected image

11. An Exploration of Entrepreneurship: Making a Living From Your PassionCourse Syllabus Course Description: Getting from a business idea to operating a successful business requires focused hard work. “Making a Living” identifies several of the major business elements required in a profitable business. Course Objectives: Identify and evaluate various management philosophies used in small businesses; Develop and evaluate a business plan; Develop skills used by entrepreneurs to manage a firm; Identify the various financial aspects involved in a small business; Financial record keeping and accounting Systems; Financing; Profitable pricing; Evaluate the various business structure. Brief Course Outline Management Decisions Organizational culture and management philosophy Creating the Organization The 80/20 Rule Organization and layout of business facilities Business Planning Business plans Customer service Business Structure and Legalities Business structure Licensing and permits Taxes Contracts Intellectual property Great Employees – A Key Business Factor Assembling the team Supervision Job descriptions, salaries, benefits and training, and performance reviews Service/Merchandise Plan Merchandise plan – stocking, buying, & inventory control Pricing and Break-even Financial Management Financing Financial record keeping, statements, and forecasts Capital development: personal debt, equity, and venture

12. LEARN TO EARN Lawn Care and the Environment

13. Designed to teach youth, ages 12-15, how to open their own lawn care business. Focuses on mulching as a niche market. Includes PowerPoint slides, leader notes, activities and promotional material.

14. Visual Merchandising: The “Silent Salesperson” Hong Yu, Glenn Muske Oklahoma State University

15. Program Overview • Getting Started: Visual Merchandising Basics • Exterior • Interior Display • Materials for Successful Visual Merchandising • Ideas and Techniques for Getting Customers’ Attention • Other areas of Visual Merchandising • Summary

16. Visual Merchandising Defined • Visual merchandising is the actual selling of merchandise through a visual medium. • “This is who we are and what we stand for”. Pegler, M. M., Visual Merchandising & Display

17. Reminders! Visual merchandising: • Practice, practice, practice • Need not be expensive • Adds the “silent salesperson” to your staff • Must be a continuous process REFRESH! REFRESH!!! REFRESH!!!!! • Everything you try may not work, just keep trying • Keep displays neat, clean and simple