RISK is not a 4 Letter Word
Exploring the Realm of Youth Entrepreneurship
Presented by/Discussed with:
Erin Scheel & Will MacMillan
• 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
• 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.
• Who are we?
• What do we do?
• Why are we talking about Youth
• 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
– As defined by The Global Entrepreneurship Monitor
• An Entrepreneur is a person who organizes,
operates and assumes the risk for a business
What is Entrepreneurship?
“…we miss an
opportunity to find
these kids who
traits and to groom
Keynote Speaker, CACEE 2009
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
• 1 in 4 of these new business owners have a
university degree (double from 1990).
• 8% of Canadians are currently self-employed
- Statistics Canada & CIBC World Markets Research
Risk is defined as:
• exposure to the chance of injury or loss;
• the possibility of incurring misfortune or loss;
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
• You are the risk – you make the decisions.
• The opportunity cost associated with pursuing a
• Failure, and the need to start over again.
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
• 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
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
that stand out to Employers
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
These characteristics are
• Selling/Presentations both innate and learned.