Maybe I should compile a list of inspiring OLD entrepreneurs. Not that we are that old, but there is a bumper crop of very talented moms that have homeschooled multiple children for 20+ years that are watching their students move on. In there is so much talent and ability that it seems natural to translate all that experience into an entrepreneurial venture..hmmmnn. Think on that.

Read  “10 Inspiring Young Entrepreneurs“

One Idea, Many Variations

Basically, it’s really one idea, with thousands of possible variations: Visit any business and watch how it works from the owner’s point of view. This may not sound too exciting, but if you determine to get inside the owner’s head and discover the passion behind his business, you may be surprised at what you find. Ask for a tour of the entire building, and see how much information you can draw out of the owner with questions such as:

• How did you choose this location?
• Did you have to do much to get it ready to do business in?
• How did you find where to buy your goods?
• What do you do in a typical day?
• What is your favorite/least favorite part of running your business?
• What do you do for advertising/increasing business?
• (If they have employees) Is is hard to find employees? What do you look for in a potential employee?
• What made you choose this type of business?
• Where do you hope to be in 10 years?

To round out the experience of understanding how different businesses work, visit at least one business in each of these areas:

• Manufacturing-a business that makes something and sells it to other stores
• Retail- a clothing store, grocery, etc.
• Service- Accounting service, construction office, cleaning service

Visiting more than one in each of these areas would be ideal, because it goes without saying that a business is only as good as the person running it. After your visit, discuss with your children what you think the different business owners could do to improve their businesses, or what you think they are doing best.

Do Your Homework

As a parent, if you aren’t sure what interest your child will have in a particular business field trip, you may want to call ahead and chat with the owner. Explain to them what your objective is in touring their business and ask what drew them to their field at the beginning.  Ask them what they think the most interesting part of their day might be to an outsider and for ideas to show what running their business is really like. Some businesses will be easier than others to enliven. It could be difficult to make much of a visit to an accounting office, but a short and sweet visit would still serve its purpose. Visiting a landscaping office won’t show you much about what really happens, but if you could meet the owner on a job and ask to watch (without interference) as they unload equipment and set about their task, that could be fascinating for many – especially teen boys. Make sure they still see that there are other parts to the job such as giving estimates and doing the billing. The idea is to show them the big picture, not just the fun part.

Absolutely every place you could possibly go on a field trip, even a park, is a business of some sort. You will give that entrepreneurial brain an even better workout if you answer these questions after any visit or field trip:

• If I wanted to start a (park, museum, theater, planetarium, store), what would be the first thing I would need to do?
• What kind of building or land would I need?
• How would I find the money to start it?
• What kinds of people would I hire?
• What are some of the items I would need to buy to start the business?
• How much would you charge?
• If it was your business, what would you do differently?

These are just a few to get you started, but the idea is to start your student thinking about all the details involved in running the variety of places they go everyday. Even government funded institutions like a school or a post office must be run in a business-like manner.

Your child may have zero interest in having their own business at this point in their life, but understanding how the world is run, one business at a time, will completely change their point of view. Once your child starts to view the working world from an entrepreneurial perspective, they will become infinitely more valuable as an employee. Every business owner wants someone working for them that sees the big picture, not just someone doing the minimum duties for a paycheck.

Take a Virtual Field Trip

If a field trip isn’t in the immediate future, the Food Network has a few shows that involve starting and running a business that could fill the gap on a rainy day. One is The 24 Hour Restaurant Battle which challenges 2 couples to start a restaurant within 24 hours. Obviously, it’s not realistic to think you could accomplish this in the real world, but it does give you an overview of many of the details of starting a restaurant. Be sure to mute the TV during commercials and use that time to discuss your teen’s opinions on what is going on and how they would do things differently.

Another show is The Great Food Truck Race. Food Network creates some crazy circumstances for these trucks to make the show more interesting, but many of them are great for illustrating what a real business owner might face. One of the shows put all the trucks in a city that none of the owners were familiar with. This created the challenge of finding good vendors of the supplies they needed. Watching how  problems like these are solved under stress and discussing them later is an excellent way to cultivate the entrepreneurial mind.

How Is It Made?

I have always loved watching how things are made. If you do, too, then you will love this show. Unwrapped goes to the factory that makes your favorite food and shows you exactly how it’s made in mass quantity. Many times the show reflects on the food company’s early beginnings and how they made it to the big time.

I hope this encourages you to take a closer look at all the different places you visit every day from a entrepreneurial perspective. Take pictures of your adventures and we’ll post them here if you send them to us!

Anyone have other ideas for an entrepreneurial field trip?

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Financial Peace University

Financial Peace University, a 13 week course teaching you everything you need to be financially free, is what started it all. He’s written several books, hosts a popular talk radio show, and offers a subscription website called The Total Money Makeover. There’s more, of course, but you can browse through it at his website, http://www.daveramsey.com.

As a committed Christian, Dave is also very open about the value of biblical principles in everyday life-especially when it comes to finances. We are commanded to be good stewards of our money, which also means we are responsible to teach our children the same. He’s made it easy with his home study curriculum for children and teens, Foundations in Personal Finance for high school students, and Junior’s Backpack Activity Series for elementary students and one designed specifically for those that homeschool. He even has Foundations For Life and Money for young adults (college age).

Save at the Homeschool Co-op

I apologize for the short notice, but I just discovered that The Homeschool Buyers Co-op is offering a deal of up to 84% off this financial curriculum, but only until Aug 19th (2010). If you don’t make the deal in time, it’s still worth every penny. The Homeschool Co-op is always offering new deals and discounts, and has a website full of resources for any homeschooler. Last I looked, it was still free to join.

Anyone else know of a sale or discount on Dave Ramsey’s curriculum for kids?

*note: There are no affiliate links or opportunity for profit for HSE here-we just really believe in it’s value!

From: http://collaborationnation.wikispaces.com/Skills+Needed+for+the+21st+Century *

Can your students….

Make complex choices?

Benchmark a process?

Manage a negotiation?

Communicate clearly?

Motivate others?

Connect globally?

Organize information?

Cope with change?

Read a digital map?

Demonstrate innovativeness?

Resolve conflict?

Distinguish fact from opinion?

Respond to a blog?

Frame problems and solutions?

Sell ideas to others?

Give an effective presentation?

Set priorities and goals?

Lead a team?

Use technology well?

Learn outside the classroom?

Work effectively in teams?

This website was not targeting entrepreneurs in any way, but it seems to me that learning entrepreneurship will develop most of these skills quite nicely!

I’m sure there are more you could add to the list, would love to hear . . .

*note: Digging around this website wasn’t especially user-friendly, but there were several places that a homeschool teacher could find very useful.

The United States Constitution protects our right to free speech vigorously, so unless you write a very popular blog that someone wants to take down, your chances of being sued are slim. However, most writers want to comply to avoid any potential problems and . . . well, it’s just the right thing to do.

Many bloggers violate several basic laws simply due to ignorance. We all know that doesn’t make it OK, but I’ve been guilty, too. That’s why I thought it would be a good idea to not only make sure we all have our bases covered, but to make sure our children know what they should, too . One of the best resources available online on the subject is Electronic Frontier Foundation’s “Blogger’s Legal Guide” , an excellent (free) website.

If reading pages of legal-ese isn’t your idea of spending your afternoon, then skim this list of common questions and take a quick look to see if you are violating any basic blogging laws:

When can I borrow someone’s images for my blog post? (probably the most ignored question…)

Can I be sued for publishing somebody else’s private facts?

Can I sue if my site is wrongly taken down? (supporting the biblical grounds not to sue, you do want to know your rights so as to take action!)

Can my employer read my blog?

Can I be fired for whistle-blogging about my company’s violation of the law?

May I freely copy from federal government documents?

I found something interesting on someone else’s blog. May I quote it?

Is truth a defense to defamation claims?

Can bloggers get press passes?

Also, because some laws are different for student bloggers than they are for the general public, there is a list of questions that apply to student bloggers here. As a Christian, many of these questions could be a subject of family discussion and “reasoned together” from an ethical/biblical standpoint. I highly recommend having this discussion with your teens, especially if they blog.

Teaching It

The Electronic Frontier Foundation (referenced above) lends itself nicely to writing your own questions for your student to find the answers to. If you would like it all done for you, an excellent resource to create your own mini-homeschool course on copyright law can be found at http://www.teachingcopyright.org/curriculum/hs . There you can find five lessons designed to take approximately 60 minutes each along with additional resources, handouts, quizzes and a glossary. Very nice.

Creative Commons (dot org) offers a free tool that you can license your work yourself at http://creativecommons.org/choose/ Be sure to read “Before Licensing” to be sure you understand what you are doing and what each of the individual choices mean. If you are using this as a Homeschool Entrepreneur lesson, or simply want to learn more on your own, there are many case studies that can be helpful in understanding what different companies need in the way of licensing and copyrights.

Above all, since many of the issues talked about in these websites are essentially judgement calls, it’s excellent fodder for discussion with your teens about where do you draw the line? When is it right to ‘legally’ report the truth when it could harm someone? Is it OK to let something slide because it’s such a minor infraction, yet takes time to do it right? Do you blog anonymously so you can say things you wouldn’t if people knew who you were?

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The editor of this article had an excellent point: How will this affect them when they grow up and want to start a business? Encouraging entrepreneurship in our youth is the future of our country… this isn’t helping! Taking steps to have that ordinance changed would be a good place to start.

Read more: http://www.business-opportunities.biz/2010/08/05/please-sir-dont-kill-my-dream

Business-Opportunities.biz – Take One Daily

As one of my favorite blogs, if you are interested in starting a home business or teaching your children to do so (which is why you are reading this blog, I’m assuming..) this is a blog you will find very useful. I thought I’d show you just a small sample of what you will find relevant to teaching your teens – or yourself – how to start a business:

14 Year Old Sets Up Coffee Shop – if you have a business already and have been trying to think of a way to also set up your teen in business, read this.

Teens Sew Up Duct Tape Contest – add this to your list of uses for duct tape!

A College Student T-Shirt Entrepreneur - inspiration for dorm room entrepreneurs

August is National Inventor’s Month – now we know…let’s get inventing!

Family First – Making At-Home Businesses Work – a must read.

Working Moms and Little Helpers Helps Moms Work at Home – there are more articles like this to read.

Don’t forget to check out their..

CLASSIFIED ADS

After you have read your fill, check out their CLASSIFIED ADS. If you have a business, you can buy one for just $5. When you sign up for their newsletter, you often receive coupon codes for a free one. Not a bad deal.

Last, but not least, if you have a blog, check out the  “How much is your blog worth” widget. You never know-too bad it doesn’t include a check for the projected  amount! Business Opportunities.biz is worth almost 10 million. Perhaps we can think of blogging as a retirement account?

Do YOU have a blog you’d like us to feature?

If you are a home school parent or teen that has a blog, email me at deb@homeschoolent.com with your details and I’ll get back to you promptly. The widget above that predicts what your blog is worth is primarily based on back links to your blog, which is what  featuring your blog on this blog will give you!

For those of you not familiar with how it works on Amazon for sellers, here’s the lowdown on their fees:

Amazon Fees as of August 2010

Upon sale of a book, Amazon credits the seller the amount of the book sold and the shipping fee the customer paid-which varies by type of shipping. The most common are: Standard-$3.99; Expedited-$5.99; International-$12.49.

THEN, Amazon charges the seller: (hold on…)

Referral fee: 15% of the cost of the book.

Variable Closing Fee: $1.35

*Fixed Closing Fee: $ 0.99

(If you have a “Pro Merchant Account”, the *Fixed Closing Fee of .99 is waived. So if you sell over 40 books a month, the $39.99 Pro Merchant Account is worthwhile for you.)

Makes you wonder why anyone sells books on Amazon, doesn’t it? Some sellers prefer selling their books on Ebay, but I did the math about a year ago and the bottom line wasn’t much different. Free listing is the biggest advantage that Amazon has in addition to the massive exposure it provides for every seller. However, prices and policies change on both vendors quickly (depending on how you are set up), so do your own research if it’s important to you.

Over the last 10 years we have sold books online on a small scale. In that time,  Amazon’s shipping credits always seemed to be more than enough to cover postage unless it was a very heavy book. It was a no-brainer to simply add a little to the price to books like that, usually textbooks. However, we have had several ordinary books ordered lately that needed to be shipped internationally and we have lost money on the shipping on every single one. As you can see from the fees that Amazon collects that a bookseller’s profit margin isn’t very big to begin with, let alone losing money on the shipping each time.  It doesn’t take a rocket scientist to figure out that to continue to ship books at a loss wasn’t smart! Every book I shipped out this way included grumbling, complaining and a resolve to take the time to research a better solution. Surely others were having the same problem, right? Was missing something?

It turns out that I was missing several things. A little searching online and RE-examining the ever-changing fee structures of both Amazon and USPS, a few details came to light.

Watch your weight

If a book doesn’t fit into the International Flat Rate Envelope, the alternative is International First Class, which is charged both by weight and the country it’s going to. The rate chart for First Class International is calculated by the ounce up to 8 ounces, then it’s by 4 ounce increments. Case in point: we had one book that was just over 20 ounces, so we replaced the original packing of 2 pieces of cardboard with bubble wrap and it lost enough weight it to qualify for the under 20 oz rate. This brought the postage from $13.45 to $11.78. That’s the difference between having postage left over ($ 1.67!) and losing almost a dollar on shipping. Don’t sell books online without a reliable postal scale. (can be found for under $20)

Check your options BEFORE you take it to the post office

We usually just take our books to the US Post Office and let them post the packages because you can’t print Media Mail postage online-which is how the majority of books are sent. Priority (expedited) packages and International Priority Flat Rate Envelopes are always cheaper to print online. It’s easy (and free) to set up a “ClickN-Ship” account with the US Post Office, and by printing the postage yourself it’s $12.78. If USPS does it for you, it’s $13.45. Hey, 67 cents is 67 cents.

Be choosier on what books will list with the  international shipping option

First Class International  rates are divided into 4 different Country Groups, depending on where it’s going. Amazon’s international shipping credit is a flat $12.49 regardless of where it goes, so I decided that I would only ship books internationally weighing under one pound, unless it fit into the Flat Rate Envelope. Since the Country Group 6-9 is the most expensive, and costs $11.78 to ship 20 ounces (I allowed for packing materials), I figured that was a good rule of thumb. As for losing $ 0.29 on the Flat Rate Envelope shipping cost (and that’s by printing it myself), I figure I’ll compromise – after all, USPS did provide the envelope….

Weighing your books as you list them might take a little extra time, but you will know the feel of a book over a pound fairly quickly. We realized the reason for the surge of overweight international book sales were a result of our helpers over the summer. We had two college students listing books and we didn’t think to tell them not to check certain shipping options on heavier books. Live and learn.

Change your Amazon Store default settings

Although we still offer shipping overseas, we changed our international shipping default settings to “NO”. If you aren’t sure how to do this, simply go to your Seller Account Page. Under “Settings” (the last heading in the list) click on “Store Settings”.  Once there, click on the ‘Edit’ button on the Shipping Settings header. Change “Will Ship Internationally” to “No”; hit “Submit” on the bottom of the page and you’re done. You can still choose to ship a book internationally when you list it, this just prevents you from automatically listing it as such.

Why not eliminate the international shipping option on ALL of our books?

Actually, eliminating the international  option is where I was headed, until I read the seller forums on Amazon Services. Reading the different scenerios of other sellers made me realize that it would be a foolish act of frustration to never offer the international option. Many sellers reported that a large percentage of their business

was international and actually made money on the shipping of lighter weight books and DVDs. So, until rates change again, hopefully some of the details we have adopted will keep us out of the red.

I hope that some of this comes in handy for you, too. I did read that some of the postal services like Stamps.com and Endicia offer a discounted international parcel rate. These services are typically good for high volume sellers, and I couldn’t find evidence to support that. If you have experience with any of these services, we would love your comments! Share your knowledge and leave us a link we can visit your site. Thanks!

Compare international shipping rates on USPS.com

1. Send a survey to everyone you know. Zoomerang has a free survey creation tool that you can put together in minutes. Just ask the questions like you would if you were talking to your friends…and then send it to all your friends and relatives. Everyone loves to be asked their opinion.

www.zoomerang.com

2. Ask a SCORE representative. It still surprises me how many people don’t realize one of the best free business tools is only an email away. Receive counsel and opinion from experts in your idea’s field.  www.Score.org

3.Google’s Keyword Tool is an excellent way to determine the popularity of your idea. Not sure how to do this? Entrepreneur.com has a great article on testing business ideas with Google’s keyword tool-

http://www.entrepreneur.com/ebusiness/ebusinesscolumnist/article206188.html

Now, once you know your idea is a good one, what do you do next? Most would say write your business plan. You can find all the info you need on writing a business plan including a free online workshop at http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

Or-you could ask your SCORE representative….

Just do it.

For those of you new to the site, Homeschool Entrepreneur started with a dream of seeing entrepreneurial education as a required part of every balanced educational program. As a veteran  homeschool parent, naturally I saw the homeschool environment as an ideal springboard for this ‘out of the box’ idea. The flexibility of homeschooling coupled with the progressive nature of most that embrace this alternative educational environment, seemed to be a perfect fit. I was sure others like myself would see the benefits. What I didn’t realize was it turned out to be an idea before it’s time. Inc’s article encouraged me that maybe that time is finally here. Now, that’s exciting!

Education, much like religion, is fraught with tradition. Many homeschool parents will tell you they have had a hard time breaking away from the traditional model of “school” and ended up simply doing ‘public school at home’ – especially at the beginning. I’m not saying that is a bad thing, but when the true nature of homeschooling is embraced, the experience is so much richer. Likewise, entrepreneurial education has yet to break out of it’s stereotype and become the educational tool it can truly be. (more on that soon!)

Maybe, just maybe, the  understanding that entrepreneurial education isn’t just for business geeks has finally made it to the big presses. Inc Magazine is one of the first I’ve seen to embrace this possibility. I’m not talking about those that deal directly with entrepreneurial education like  The Kaufman Foundation and our own Homeschool Entrepreneur. The number of college-level entrepreneurial programs has certainly increased substantially, as well as a sprinkling of high school level programs. However, it’s still considered education solely for the imminent start-up. Think of all the courses you have had to take throughout high school and college that had nothing whatsoever to do with what you were aspiring to do in life. All in the name of a balanced education. Somewhere along the line the entrepreneurial mindset was completely washed out.

Several years ago it was the chatter among entrepreneurs and some economists that small business would be the key to America’s economic recovery. So, why hasn’t America quite recovered yet? I think Inc’s Reviltalization Plan included a few statistics that might shed a little light on why the power of free enterprise hasn’t quite lifted us out yet.

Why entrepreneurs have not pulled us out . . . yet:

A quote from this Inc Magazine special report:

Young companies — those younger than six years old — provide the bulk of new jobs; in 2007, they accounted for 64 percent of them, according to a 2009 survey by the Kauffman Foundation that looked at start-up formation since the 1970s.  (italics ours)

. . . Unfortunately, creating new companies is easier said than done. The rate of business creation has remained stubbornly constant over the years. Since the early 1990s, the number of start-ups has hovered at about 500,000 a year, according to a survey by the Kauffman Foundation. This has been the case during booms and busts, whether taxes were rising or falling, and whether venture capitalists were irrationally exuberant or largely recalcitrant.

“Clearly, some new thinking is required.”

OK, so what is this new thinking? It’s proven out that increasing the availability of entrepreneurship courses in universities has had no effect. The fact that the increase of schools offering relevant courses from 500 in the 1970’s to over 2000 schools in 2005 resulted in little or no increase in the number of start-ups speaks for itself. What Inc did point out were two programs that offer hands on training that are making an impact:  The Launch Pad at the University of Miami and MIT’s Entrepreneurship Center.

Simply offering more practical training is only part of the solution to this ‘new thinking’ to encourage business start-ups, but I believe Inc hit on something that even they may not realize the impact of – Get them while they are young.

Finding the Bill Gates of the sixth grade?

Inc’s report targeted middle school aged students as the ideal age group to teach entrepreneurial principles. Personally, I think the younger the better, while appropriately increasing the level of education as the child grows. While Inc’s ideal is to find the Bill Gates of the sixth grade, I think we need to find the hidden gold in each of our children at the earliest possible age. Creating real life work scenerios in the form of mock or real business as educational projects can reveal a child’s inner talents faster than any other extracurricular activity. Why? Because the rewards of such activities are very real, measurable, and are directly related to what they see in their everyday life. A boy may love cars, but how does he translate into productive, real life work?

Inc’s bottom line on educating young entrepreneurs:

“Putting ideas into action may be the biggest challenge for entrepreneurs. Teaching youngsters how to do it is among the best investments we can make.”

Homeschool Entrepreneur’s bottom line:

Making practical entrepreneurial education a relevant part of every child’s education from a young age does much more than teach them how to create a new  business. It provides children with an understanding of how the economy actually works, because every job either involves running a business, or working for someone that does. Would it make a difference if everyone understood how business success or failure affects everyone, especially our economy? We study history to  learn from the past to avoid repeating historic mistakes. To study entrepreneurship in the same manner will encourage a new mindset – a mindset that is mindful of building America’s economy by either building strong businesses that create good jobs, or being an employee that does the best they can to help their company grow resulting from the belief that their contribution really does make a difference. Entrepreneurship education isn’t just for business owners, because a strong economy also relies on good employees supporting those businesses. When everyone understands what is at stake, some ‘new thinking’ will naturally take place. Then, if a time comes that anyone wants to start a business, they will know exactly where to start and success will be much more likely. Replacing the ‘worker bee’ mentality with a dedicated attitude towards success. Creation of business incubators, launch pads and practical start-up resources will be encouraged and common place, easy to find, and a valid tax deduction.  The knowledge void that currently plagues many would-be entrepreneurs will be a thing of the past.

Please read the entire article on Inc’s Revitalization Plan. I realize I was a little biased by only elaborating on the educational aspects. Their take on providing more practical tools to encourage start-ups are inspirational. Matching ideas and investors, tax incentives to help all involved, and wait till you read about the TechShop in Menlo Park, California. We could use one of those in every major US city. Let me know what you think of the article, and your ideas about how we can start teaching our children now how they can impact our economy by thinking entrepreneurially.

Dear Homeschool Group Leaders:

It has come to our attention that multiple homeschool leaders have received phone calls from a person falsely saying he is from the Home School Foundation.

This caller, who is believed to be male but identifies himself as a woman, will often claim to be calling from the Home School Foundation and indicate that you have been nominated for a grant or award of some sort. This individual usually states that “she” has 10 children and a degree in psychology, before proceeding to ask questions about your family’s homeschool practices to follow up on the grant/award that you have been “nominated” for. The questions quickly get around to your disciplinary methods and practices. Please note, HSF has no need to ask you about your disciplinary methods with your children!

If you are ever on the phone with someone saying he or she is from HSF and you become even slightly suspicious, or if the questions don’t directly relate to the work of the Foundation (i.e. helping families homeschool through hard times), please ask for a name and number and offer to call back. The Foundation’s number is (540) 338-8688. If you are given a different number and/or receive a call from an individual who fits the above description, please alert us immediately!

We are trying our best to find out who this caller is and stop him from harassing homeschoolers in our name. This is not actually a new issue; we had a similar situation many years ago and came close to finding the caller before he went underground. This may be the same person.

If you receive such a phone call, write down the date, time and as much information as you can about the caller. Personal information disclosed by the caller and the questions he asked would be helpful. Also collect any information displayed on your caller ID or obtained from tracing the phone number (often by dialing *69). Contact HSLDA or HSF with this information and we will collect it to help authorities in their attempt to track this individual down.

If you have any details that may help us find out more about this caller, please email them to info@homeschoolfoundation.org with “impersonator” in the subject line.

Also, please forward this email on to other homeschool leaders you know—if people are aware of the issue ahead of time, we are more likely to stop it.

Thank you,

Mike Smith, President