1. RISK is not a 4 Letter WordExploring the Realm of Youth Entrepreneurship Presented by/Discussed with: Erin Scheel & Will MacMillanCollege Pro

2. Agenda What is Entrepreneurship? What is Risk? Attributes of successful Entrepreneurs? What is Risk to a student? How do people learn? How does hands-on learning compliment education? Career? 3. Outcomes Share and understand career educators and employers perspectives on risk and failure. Shed light on the educational & development value of entrepreneurship. Have an open conversation. 4. About Us Who are we? What do we do? Why are we talking about Youth Entrepreneurship? 5. Entrepreneurship: Defined Entrepreneurship is any attempt at a new business or new venture creation, such as self- employment, a new business organization, or the expansion of an existing business, by an individual person, a team of individuals, or an established business. As defined by The Global Entrepreneurship Monitor An Entrepreneur is a person who organizes, operates and assumes the risk for a business venture. 6. What is Entrepreneurship? we miss an opportunity to find these kids who have the entrepreneurial traits and to groom themCameron Herold Founder, BackPocketCOO Keynote Speaker, CACEE 2009 7. Entrepreneurship: Some Facts In the past 2 years, more than 25,000 small businesses began operating in Canada. In the past year, 45,000 more Canadians have become self-employed. 1 in 4 of these new business owners have a university degree (double from 1990). 8% of Canadians are currently self-employed (approx.2,700,000) - Statistics Canada & CIBC World Markets Research 8. Thoughts? 9. Risk: Defined Risk is defined as: exposure to the chance of injury or loss; danger; hazard. the possibility of incurring misfortune or loss; hazard 10. Risk: Young Entrepreneur Perspective Its not a risk its calculated. Vegas is a risk. Entrepreneurs dont take risk, we plan and then execute. You are the risk you make the decisions. The opportunity cost associated with pursuing a particular route. Failure, and the need to start over again. 11. What is Risk to a 20 year old? 12. What is Failure? Ive missed more than 9,000 shots in my career. Ive lost almost 300 games. 26 times, Ive been trusted to take the game winning shot and missed.Ive failed over and over and over again in my lifeAnd that is why I succeed- Michael Jordan 13. Young Entrepreneurs Lack experience How theyre raised? How theyre educated? Need depth of skill Skill + Experience = Performance, fast Limiting variables = Increased success Many student entrepreneurship opportunities take advantage of this: limited service, market, system 14. Experiential Learning - Ryan Bannerman Associates, Facilitating Powerful Learning Experiences, 2009 15. Experiential Learning & Retention WHAT ADULTS REMEMBER Percentage 72 HOURS LATER90%90% 80%70%70%60%50%50% 40%30% 30% 20%20%10% 10%0%READHEARDSAWSAW & HEARD REPEATED REPEATED & PERFORMED 16. 4 Areas of the Adult Learning Cycle Active Styles:Passive Styles: Active Experimentation &Abstract Conceptualization & Concrete Experience Reflective Observation Require interaction with another person Focus on individuals internalization, and are externally and action oriented. thinking and reflecting on their learning 17. Entrepreneurial Characteristicsthat stand out to Employers Assessment Testing: Leadership In assessment tests on over Financial Management300 students the strongest correlation to success was Time Management LEADERSHIP. Problem Solving Followed by: -Fostering Innovation & Change Delegation-Adapting to change & stress -Assertiveness Accountability These characteristics are Selling/Presentations both innate and learned. 18. Final ThoughtsEntrepreneurscanchangethe world