Entrepreneurship with Pizzazz

1. Entrepreneurship with Pizzazz Annika RussellWessington Springs High School Wessington Springs, SD

2. A little about me. . . • Graduated from Dakota Wesleyan University with BA in History/Business Education • Received MA Degree from University of Nebraska-Lincoln • Curriculum and Instruction of Distance Education • Teaching Experience • Sanborn Central – 9 years • Wessington Springs/Mitchell 3 years • Also teach for the DIAL Virtual School • Coach volleyball and track at Wessington Springs

3. Topics Covered • Entrepreneurship Curriculum • Writing the Business Plan • Mentors • Projects • Interviews with Loan Officers • Questions

4. Entrepreneurship Curriculum • Use South-Western’s book called: Entrepreneurship: Ideas In Actions • Taught through WebCT to students throughout rural SD • Also meet 3 or 4 times via DDN • Weekly Assignments • Discussion board

5. Should You Become an Entrepreneurship What Skills Do Entrepreneurs Need? Entrepreneurs in a Market Economy Select a Type of Ownership Develop a Business Plan Identify and Meet a Market Need Finance, Protect, & Insure Your Business Choose Your Location & Set Up for Business Market Your Business Hire & Manage a Staff Record-keeping & Accounting Financial Management Meet Your Legal, Ethical, & Social Obligations Growth in Today’s Marketplace Entrepreneurship Curriculum

6. Cover Page Table of Contents Executive Summary The Business Describe business/product Regulations Barriers Management Ownership Composition Management Security Marketing Product/Service Target Market Competition Location Promotion Pricing Finances Summary of Financial Needs Start-up Cost Insurance Break-Even Analysis Statement of Cash Flow Business Plan Outline

7. Mentors • Contact businessmen/women from each community • Assign each student • Students are encouraged to meet with them once a week • The more students use mentors – the better their plan • Success Stories

8. Projects • Speakers via DDN • Potential employee interview • Go Venture Simulation

9. Speakers via DDN • All schools in South Dakota have the Digital Dakota Network • video conferencing equipment • Entrepreneurs from Mitchell speak of their experiences • Writing business plan vs. not writing a plan

10. Potential Employee Interviews • Develop a description of a position for their business • Develop questions for potential employees • Use mentors as a resource for these • Role play the interview with a friend/adult • Video tape

11. Go Venture Simulation • Computer simulation • Choose type of business and ownership • Choose who to hire, what to sell and how to price • Play for assigned number of days • Save file each time play • Submit in WebCT • Media Sparks • http://www.goventure.net

12. Interview with Loan Officer • Contact loan officer from a local bank • Students present business plan asking for a loan • Stress importance of appearance and knowledge of area • Semester Test • Recommend to Loan committee as it; with modifications; or not at all

13. Sammi, Sarah, and Chad would have received their loan; however, Drake would not have. Sarah Jordan.  Business plan omitted the zoning, etc. requirements which during the verbal interview she had completed, and the cash flow projects was weak especially in the utility area (electricity for computers and heating a warehouse in a northern climate in a warehouse)  Her business plan was superior in the strength, weakness, and competition area. – Ann Mackaben Chris was here at 11:00 just as scheduled. He was dressed appropriately and conducted himself  very well. The loan proposal was very thorough. Projections and cash flows were included. I wish some of our customers presented as well. Chris has a good concept on what it takes to operate a business. Although his numbers come from the "best senario", we know business doesn't quite work  that way. When asked questions, Chris answered well and with knowledge that comes from putting alot of time into this project. (Knowing his stuff!) His material, as presented, could easily be presented to loan committee. – Barb Metzinger Avery arrived on time for her appointment and dress very appropriately for her interview.  She presented her plan for "Ye Old Church Winery".  I loved it!!  Her plan was very well put together and easy to understand.  She has obviously done a lot of research for this project.  She seemed nervous but was able to answer the questions that I had for her.  She even brought in a list of questions with her to ask me - impressive.  -Lisa Creasy Michale was in as scheduled at 9:00 today and she had on blue jeans and a jacket which was fine . She told me what she wanted to borrow and what she wanted to borrow it for. She did not bring a business plan  nor any paper work . She did know what she wanted but I did not have an idea as for what the breakdown would be for her request of $50,000 without the projections,financial statement and business plan in general. I did tell her what all was needed to apply for credit and then a decision would be made after several meetings.  - Mark Knutson Comments from Loan Officers

14. Questions????

15. Annika Russell 301 W. 12th Ave Mitchell, SD 57301 Annika.russell@k12.sd.us arussell@santel.net http://russellswiki.wikispaces.com 605-996-3258 Contact Information