Allowing young people to EXPERIENCE entrepreneurship.

1. 4-H Means Busine$$ Allowing young people to EXPERIENCE entrepreneurship. Stephanie S Blevins, Ph.D., University of KY Griffin Blevins, 4-H Means Business Entrepreneur

2. Who taught you about: Money? Business? Finances? 4-H Means Busine$$

3. Need for 4HMB “Many young people are unskilled in managing their personal finances, yet this crucial life skill will greatly affect their future economic well-being” (USDA, 2010, Retrieved on May 12, 2011 from: http://www.csrees.usda.gov/nea/economics/in_focus/security_if_youth.html) . "Appalling ignorance" is a term used by the Joint Council on Consumer Education to describe high school students’ understanding of financial concepts.” “Two-thirds of those students could not even define the term "profit" (Barrett, 1990). Thirty-one states have "consumer education guidelines," but less than eight states require consumer education topics on a competency exam prior to graduation (National Coalition for Consumer Education, 1991). 4-H Means Busine$$

4. Why They Want to Join 1. Earn Money 2. Hang out with Friends

5. Why We Want Them to Join Skills $ Customer Relations $ Marketing $ Record Keeping $ Advertising $ Tracking Inventory $ Counting Money $ General Banking $ Communication $ Terminology $ Computer Programs $ Financial Mgt. $ ETC ETCETC Knowledge $ Profit/Loss $ Monopoly $ Scarcity $ Business Plan $ Budgeting $ Wholesale/Retail $ Gross/Net $ Contracts $ Risk $ Surveys $ Product Development $ ETC ETCETC Social $ Form Positive Adult Relationships $ Create Networks $ Develop Generosity $ Experience Independence $ Customer Service $ Make New Friends $ Mentoring $ Leadership $ Responsibility $ ETC ETCETC Skills $Customer Relations $Marketing $Record Keeping $Advertising $Tracking Inventory $Counting Money $General Banking $Communication $Terminology $Computer Programs $Financial Mgt.

6. 4HMB Program Objectives 4-H Means Business Club Objectives: • 1. Allows youth to DISCOVER OPPORTUNITIES through the exploration of interests through product choice and development. • 2. Encourages youth to THINK LIKE AN ENTREPRENEUR by providing contextual learning through state identified competencies. • 3. Instructs youth how to GROW/EXPAND THEIR BUSINESS by using ‘teachable moments’ to increase skills and knowledge. • 4. DEVELOPS SKILLS and KNOWLEDGE in communication, financial management, marketing, public relations, community service, leadership, and so much more. • 5. Gives youth the knowledge/skills needed to START THEIR OWN BUSINESS. 4-H Means Busine$$

7. Confucius… “If I hear, I forget. If I see, I remember. If I do, I understand.” 4-H Means Busine$$

8. Model that drives 4HMB Figure 1. Experiential Learning Model (Kolb, 1984, p. 42) Experiential activities can make financial management education more relevant, interesting, and fun (Koehler, Lawroski, and Bischoff, 1995). 4-H Means Busine$$

9. 4HMB Experiential Learning • Allow 4-H’er to select product(s) • All products must pass jury system • Limited instruction before first show • Utilize shows to teach competencies • Additional Opportunities: • Field Trips • Mentoring • Consignment • Guest Speakers 4-H Means Busine$$

10. 4HMB Program Overview • Terms • Product Development • Product Pricing • Financial Management • Record Keeping • Customer Service • Product Marketing • Business Image • Business Security • Expansion & Review 4-H Means Busine$$

11. Key 4-H Means Busine$$

12. Terms

13. Product Development

14. Pricing

15. Financial Management

16. Record Keeping

17. Customer Service

18. Product Marketing

19. Professional Image

20. Security

21. Business Expansion & Review

22. 4HMB Program Overview Independent Study • Form Development • Club Presentation • Mentoring • Non-Club Presentation • Schedule Field Trip • Secure Sponsorship • Write Article • Invite Friend to Club Meeting • Job Shadowing • Community Service Officer * Years in Business 4-H Means Busine$$

23. How 4-H’ers Join 4HMB Owners: 1) To set up and sell as a 4HMB owner, you must first contact your 4-H agent in your county. 2) You need to come up with a business idea. It’s better if you pick a product that you like and would buy yourself. 3) You must find the supplies and/or a supplier for the items that you would like to sell. 4) You must submit your items to your leader to go through a jury process and you will get feedback. 4-H Means Busine$$

24. Pinnacle To Show at the Kentucky State Fair: I certify that the 4HMB owner: _________________________ : 1….is not selling a perishable or consumable item, 2….has set up and worked in their business at 2 separate shows, 3….is a member of our registered 4HMB Club, 4….is a member in good standing of the 4HMB Club, 5….has passed a minimum of 50% of each competency, 6….submitted their product(s) and passed our county’s jury process, 7…will personally work in their business at the fair, 8…and will be chaperoned at a 1 adult for every 2 youth ratio. 4-H Means Busine$$

25. What 4-H’ers Worry About… • “You have to constantly think about what you can do better or what you should change.” (Marketing) • “Worry when at a show you can’t leave your booth without someone watching it or else someone could steal something.” (Security) • “It’s kind of like you have to be ready to sell whenever a customer wants to buy something because you don’t want to offend them and you want to make the sale.” (Customer Service) 4-H Means Busine$$

26. 4-H Means Busine$$ Show Name: _______________________________________________ Date: _______________ Location: ______________________________________ Length: ___1 day ___ 2 days ___3 days Show contact:_______________________________________phone:___________________________ Comments: _________________________________________________________________________ Total Number of Item(s) sold: ____________ Consider Participating in this Show Again: ___YES ___NO $_____________ - $_______________ = $________________ Starter Cash) Ending cash Gross Profit $________________ - $________________ = $ _________________ Profitable Show: Y N Gross Profit All Expenses Net Profit Itemized Record of Sales

27. Income Contribute - Required 10% Spend - Re-Invest - Save - 4-H Means Busine$$

28. Technology Point of Sale Square Up 4-H Means Busine$$

29. 4HMB Owner Created Form 4-H Means Busine$$ Created b Giffin Blevins, May 2011

30. Certificate of Establishment This Certificate confirms that Bailee Watson Boyle County 4-H’er Is a Kentucky 4-H Means Business Certified Member in Good Standing Doing Business As ____Charmed______ Established ___2009___ _________________________________________ ______________ Kentucky 4-H Assistant Director for 4-H Youth Development Date _______________________________________________________ Kentucky 4-H Youth Development Specialist, Entrepreneurship Coordinator Date _______________________________________________________ Kentucky 4-H Youth Development Agent, Boyle County Date

31. Businesses Develop & Grow