College Pro Painters - Risk is not a 4 letter word

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College Pro Painters - Risk is not a 4 letter word

  1. 1. RISK is not a 4 Letter Word Exploring the Realm of Youth Entrepreneurship Presented by/Discussed with: Erin Scheel & Will MacMillan College Pro
  2. 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. 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. 4. About Us • Who are we? • What do we do? • Why are we talking about Youth Entrepreneurship?
  5. 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. 6. What is Entrepreneurship? “…we miss an opportunity to find these kids who have the entrepreneurial traits and to groom them…” Cameron Herold Founder, BackPocketCOO Keynote Speaker, CACEE 2009
  7. 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. 8. Thoughts?
  9. 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. 10. Risk: Young Entrepreneur Perspective • It’s not a risk – it’s calculated. Vegas is a risk. Entrepreneurs don’t 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. 11. What is “Risk” to a 20 year old?
  12. 12. What is Failure? “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life And that is why I succeed” - Michael Jordan
  13. 13. Young Entrepreneurs • Lack experience – How they’re raised? – How they’re 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. 14. Experiential Learning - Ryan Bannerman Associates, Facilitating Powerful Learning Experiences, 2009
  15. 15. Experiential Learning & Retention WHAT ADULTS REMEMBER Percentage 72 HOURS LATER 90% 90% 80% 70% 70% 60% 50% 50% 40% 30% 30% 20% 20% 10% 10% 0% READ HEARD SAW SAW & HEARD REPEATED REPEATED & PERFORMED
  16. 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. 17. Entrepreneurial Characteristics that stand out to Employers Assessment Testing: • Leadership In assessment tests on over • Financial Management 300 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. 18. Final Thoughts… Entrepreneurs can change the world

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