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. 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
them…”
Cameron 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
• 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. What is “Risk” to a 20 year old?

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. 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. Experiential Learning
- Ryan Bannerman Associates, Facilitating Powerful Learning Experiences, 2009

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. 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 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. Final Thoughts…
Entrepreneurs
can
change
the
world