Week in YE Vol 4: A Recap

PROFILE: E-Smooth

E-Smooth – The Entertaining Entrepreneur

E-Smooth was always the class clown. Relationship building with other entrepreneurs is the most fulfilling to him. E-Smooth makes a living as a comedian now. After high school he decided that the most value he can create comes from delivering what the customer wants. He bought his own comedy club and employs 13 part time comedians and staff. 

Thanks to everyone who submitted responses to "How would you, as an entrepreneur, determine how to create value for your customers?" to E-Smooth last week. Here is a sample of our winner Danielle's entry. 

“Value is all dependent on the customer, so first to create value I need to determine the needs of the customers and locate my target audience. Another major factor that goes into creating value for customers is quality customer service. It is not only the quality of the baked goods I am providing but the experience customers have when they come into my bakery. It is important for me to stand out from my competition with superior taste and quality. All of these things combined are associated and important in creating value for society.”

Visit this page to see the definition of value creation E-Smooth uses. Thank you for all the submissions!

Week in YE Vol 3: A Recap

PROFILE: Hammerin' Hank the handyman

Hank enjoyed experimenting when he was growing up. He was always following his family around watching them work on cars or fix the air conditioner. That real life experience is paying off for Hank now that he’s a handyman. He’s been able to solve problems for thousands of customers over the 24 years he’s been in business for himself. 

Thanks to everyone who submitted "Why is FREEDOM important to entrepreneurship." to Hank last week. 

More about the definition of freedom Hank uses.

Many entrepreneurs have found it difficult to enter into markets due to restrictions and laws. The freedom to earn a living has been interrupted due to legislation favoring businesses who have friends in high positions. When entrepreneurs have the freedom to enter in markets and compete it makes everyone better off potentially; the customers, current businesses now forced to innovate and improve products/services, and the new business. Governments who institute regulations making it difficult for inspiring entrepreneurs become a disservice to those wanting to earn a living and create value for their communities. 

Week in YE Vol 2: A Recap

Week in YE Vol 2: A Recap

Erkel- The Educated Entrepreneur

Erkel was always fact checking his work in school. Thanks to his determination in high school he received a scholarship to attend a university. He studied finances and business and after graduating with a Bachelor’s degree he works for Fortune 500 business with goals of becoming the CFO. 


Visit this page to see the definition of compliance Erkel uses. 

Week in YE Vol 1: A Recap

Week in YE Vol 1: A Recap

PROFILE: Cowboy Eddy – The Easy-Going Entrepreneur

Cowboy Eddy grew up working in the family business. He started as a rancher in Dodge City, KS after high school. Cowboy Eddy believes that treating his business partners with respect and humility is the best way to build honest business relationships. 

Thanks to everyone who submitted "What INTEGRITY means to you." to Cowboy Eddy last week. Here is a sample of some of our entries including pieces of our winner Austin's entry. 

Having Integrity as an entrepreneur is more than just the basic meaning of the word. ... It’s making the customer feel like they’re a part of something great by the level of comfort you offer them as an entrepreneur which will in and of itself make you a profit. For example, when setting commitments to a customer you must follow through. When you’re late on a date or you don’t commit, you start to lose integrity. ... To keep a good name for your business while maintaining good integrity, I believe you must establish a system to treat everybody using your product with respect. ...Making a customer feel good about using your product keeps that Good Samaritan to keep your customers happy. In conclusion, having integrity as an entrepreneur means more than just having good righteousness, it’s having enough business knowledge and ethics to be able to be an over achiever in the integrity aspect and make the customer feel like family. 

Integrity is something not a lot of people know about, but should. I, myself, have a lot of experience and training with it because of my interest in the military. I've been in numerous programs allowing me to learn about this such as: the Young Marines, and JROTC. Integrity to start, is one of the 14 principle leadership traits. So, to be a good leader, you must posses integrity. Integrity is doing the right thing, even when no one is watching. It's about being honest not only to others but to yourself. In life, you have many times you can cheat, and know for a fact you'll do better than others, however in reality, your only cheating yourself by not working as hard, or if you did cheat, you will  not understand say, the material, later, when its useful. ... Besides integrity in school, this takes place a lot in everyday life. If your at the gym, or working out with a sports team, if you're suppose to do 20 reps, and you see everyone's starting to stop but you're behind and only at 10 ,and stop, you're simply killing yourself. You're not going to be as fast, strong, or ready for the season, because those 10 reps add up. Or even in relationships, Integrity is very important. Honesty with yourself and the other person. ... Last instance, in the business world. as a CEO, or even as a cashier, like myself, you're in control of hundreds, thousands, millions, of dollars. Its very tempting to take a couple dollars here or there but that's embezzlement, not just morally wrong, wrongful to your employer, but illegal! Integrity, honesty, to me means a lot in my everyday life. It takes place all the time, in many different circumstances. Without it, life will go downhill because, like my dad says, its only matter of time until someone figures it out. You'll loose your relationship, you'll loose the trust others have put in you, and will be behind, and loose jobs. 

Visit this page to see the definition of integrity Cowboy Eddy uses. Thank you for all the submissions!

Volunteers Wanted!

Youth Entrepreneurs (YE) is on the hunt to identify 106 community volunteers for our 2013 Business Plan Competition. We need you as a volunteer to facilitate the competition for the capstone project that the YE students work on throughout the year. Consider it a tryout for your future role on Shark Tank!


What is it? 

2013 Youth Entrepreneurs Regional Business Plan Competition

Youth Entrepreneurs (YE) students (primarily high school juniors) are currently completing business plans in their yearlong YE course and will present them at the classroom level in early April. Classroom winners and qualified at-large competitors will compete regionally in both a written and oral presentation for their chance at $1,000, $750 or $500 in venture capital funding to apply to their business ideas or higher education. This competition also determines who moves on to The Finals competition.


When is it? 

At Large Written Judging: April 12

Written Judges: Read and score up to 10 business plans on your own between April 17 – May 1. (3-4 hours)

Kansas City Metro Region Oral Presentation: April 22, 8:30 – 3:00, hosted at Kauffman Foundation Conference Center, Kansas City

Topeka Region Oral Presentation: April 23, 8:30 – 3:00, hosted at Westar Energy, Topeka

Wichita Region Oral Presentation: April 24, 8:30 – 3:00, hosted in Wichita 

Southwest Region Oral Presentation: April 25, 8:30 – 3:00, hosted at High Plains Journal, Dodge City

The Finals Oral Presentation: May 30, 8:30 – Noon, hosted in Wichita


What can I expect as a Written Plan Judge?

You’ll be assigned to read 5-6 business to score and read from a web portal. We’ll give you a scoring rubric to track each competitor in the web portal. Scoring categories include Executive Summary, Business Feasibility, SWOT and Financials. The number of competitors varies by the region you judge. Multiple judges will score each plan and an average score will be calculated. The written score is then combined with the oral score to select regional winners.

What can I expect as an Oral Plan Judge?

YE will host 4 separate regional competitions. You’ll be assigned to a room with 3-4 other judges. Regional competitors will have 8 minutes to present their PowerPoint presentation for their completed business plan, followed by 5 minutes for judges to ask questions. We’ll give you a scoring rubric to track each of the competitors. Scoring categories include presentation skills, business feasibility & financial overview. The number of competitors varies by the region you judge. Multiple judges will score each presentation and an average score will be calculated. The oral score is then combined with the written score to select regional winners. Snacks and lunch will be provided during the day.  

Who typically participates?

We typically have a panel of community leaders who volunteers to serve as judges for each regional competition. We try to include a variety of industry professionals such as business analysts, bankers, CPAs, insurance professionals, lawyers and marketers. 

How can I sign up?

If you are interested, please email Jill and she will place you in an open role. After we confirm all of the judges, we will send you a copy of the scoring rubrics outlining how the presentation should be scored.

The Pursuit of Economic Knowledge Continues for YE Students

Many individuals and supporters of Youth Entrepreneurs are aware of our desire to develop entrepreneurs in our communities. Through our year-long program, students spend many hours learning the numerous principles involved with one day starting and running their own business. What many are unaware of, and what comes as a shock to our students at the beginning, is the importance of knowledge in basic economic concepts. From scarcity, supply and demand, and opportunity cost - to name a few of them - economic knowledge is crucial in developing a business plan. We are aware all of our students will not start businesses, but feel developing an economic way of thinking will be critical to any future success. Each school year, our classroom teachers typically begin the year diving into some basic economics. What has excited us at YE is that more students want more knowledge in economics! We have started new alumni programs over the course of the past two years, such as Scholars and Leaders and The Urban Economics Academy. These programs allow students to explore different mental models that deal with economics through readings and discussions. It is becoming more and more apparent; students want more opportunities!

So that brings us to this week! The Foundation for Economics Education (FEE) has partnered with Youth Entrepreneurs for more opportunities! Eight Youth Entrepreneurs alum from Wichita, Topeka, and Kansas City have traveled to The University of Utah in Salt Lake City, Utah to take part in FEE’s Freedom Academy. These academies are designed specifically for high school students to introduce them to basic concepts in economics, the role of liberty in the founding of America, and multiple special concepts in modern economics (recession, bailouts, etc).  The students will have the opportunity to make connections with hundreds of students across the country; students who desire to formulate their own opinions regarding what is taking place in our nation and sift through all the political rhetoric taking place during an election year. This is a tremendous opportunity afforded to them and we look forward to hearing their reflections at the conclusion of this experience!

YE Creates Lifelong Connections

You never know when you might meet a mentor who changes your life. The latest issue of Splurge Magazine features an article about a Youth Entrepreneurs student who formed a lasting connection with a volunteer in the YE classroom.

YE alumnus Paul Wemmer met then Business Plan Advisor Paul Attwater in his North High School classroom in Wichita in 1996. Attwater encouraged Wemmer and gave him valuable business advice. Wemmer then worked in a summer partnership at Attwater’s firm. Sixteen years later, Wemmer still credits Attwater as a valuable business mentor.

Read the full article for more details on how YE creates meaningful mentoring relationships.