PowerPoint Presentation
Allowing young peopleto EXPERIENCE entrepreneurship.Stephanie S
Blevins, Ph.D., University of KYGriffin Blevins, 4-H Means Business
Entrepreneur4-H Means Busine$$
1Who taught you about: Money?Business?Finances?
4-H Means Busine$$
2Need for 4HMBMany young people are unskilled in managing their
personal finances, yet this crucial life skill will greatly affect
their future economic well-being (USDA, 2010, Retrieved on May 12,
2011 from:
http://www.csrees.usda.gov/nea/economics/in_focus/security_if_youth.html)
."Appalling ignorance" is a term used by the Joint Council on
Consumer Education to describe high school students understanding
of financial concepts.Two-thirds of those students could not even
define the term "profit" (Barrett, 1990). Thirty-one states have
"consumer education guidelines," but less than eight states require
consumer education topics on a competency exam prior to graduation
(National Coalition for Consumer Education, 1991).
4-H Means Busine$$
3Why They Want to Join1. Earn Money2. Hang out with Friends4Why
We Want Them to Join Skills$Customer Relations$Marketing$Record
Keeping$Advertising$Tracking Inventory$Counting Money$General
Banking$Communication$Terminology$Computer Programs$Financial Mgt.
Skills$Customer Relations$Marketing$Record
Keeping$Advertising$Tracking Inventory$Counting Money$General
Banking$Communication$Terminology$Computer Programs$Financial Mgt.$
ETC ETC ETC
Knowledge$Profit/Loss$Monopoly$Scarcity$Business
Plan$Budgeting$Wholesale/Retail$Gross/Net$Contracts$Risk$Surveys$Product
Development$ ETC ETC ETC
Social$Form Positive Adult Relationships$Create Networks$Develop
Generosity$Experience Independence$Customer Service$Make New
Friends$Mentoring$Leadership$Responsibility$ ETC ETC ETC54HMB
Program Objectives4-H Means Business Club Objectives:1. Allows
youth to DISCOVER OPPORTUNITIES through the exploration of
interests through product choice and development. 2. Encourages
youth to THINK LIKE AN ENTREPRENEUR by providing contextual
learning through state identified competencies. 3. Instructs youth
how to GROW/EXPAND THEIR BUSINESS by using teachable moments to
increase skills and knowledge.4. DEVELOPS SKILLS and KNOWLEDGE in
communication, financial management, marketing, public relations,
community service, leadership, and so much more. 5. Gives youth the
knowledge/skills needed to START THEIR OWN BUSINESS.
4-H Means Busine$$
6ConfuciusIf I hear, I forget.If I see, I remember.If I do, I
understand.
4-H Means Busine$$
7Model that drives 4HMBFigure 1. Experiential Learning Model
(Kolb, 1984, p. 42)
Experiential activities can make financial management education
more relevant, interesting, and fun (Koehler, Lawroski, and
Bischoff, 1995).4-H Means Busine$$
In experiential learning the role of the teacher is as a
facilitator.Relevance84HMB Experiential LearningAllow 4-Her to
select product(s)All products must pass jury systemLimited
instruction before first showUtilize shows to teach
competencies
Additional Opportunities: Field TripsMentoringConsignmentGuest
Speakers
4-H Means Busine$$
Not a craft Club. Choose something of interest to the child .
Explore avenues beyond first thoughtJury System form, sent to 3
others, responseInstruction bring money to make change and your
productCompetencies experiential learning94HMB Program
OverviewTermsProduct DevelopmentProduct PricingFinancial
ManagementRecord Keeping
Customer ServiceProduct MarketingBusiness ImageBusiness
SecurityExpansion & Review
4-H Means Busine$$
Terms go over and why those are importantProduct
Development10KeyRatingInterpretationComments9SuperbNo improvement
needed. You have reached this highest level.8OutstandingOnly minor
fine tuning needed to obtain superb. Outstanding
work.7ExcellentMentoring status. Excellent skills, knowledge, and
abilities.6GoodAbove average. Details can be addressed to improve,
good understanding, skills, performance. 5PassingGrasp
understanding and have the necessary skills, knowledge, and
abilities to perform.4Not to DateHave not had the opportunity to
gain skill, knowledge, ability. Time will provide
opportunity.3FairBasic understanding/ability. Needs time, role
play, and/or mentor to improve.2PoorPoor understanding/ability.
Needs time, role play, and/or mentor to improve.1UnacceptableDoes
not understand concepts and cannot perform actions.4-H Means
Busine$$
11TermsCompetenciesThe following competencies assess the 4HMB
owners:Ability, Expertness, Aptitude, Skill,Capability,Strength,
Qualification,TalentLevel of
Readiness123456789LowestToHighestCompetencies - For every
independent study goal met, the 4-Her will receive a 4-H pin that
can be attached to their banner. 1. TerminologyIs the 4-Her able to
define/explain the following
terms:123456789EntrepreneurshipScarcityMonopolyOperating CostsNet
Profit v/s Gross ProfitOpportunity CostUnit PricingWholesale v/s
RetailDirect MarketingCapital v/s CreditSole Proprietorship v/s
PartnershipSupply & DemandTotals:Leader Signature:Date
Passed:
12Product Development2. Product Development123456789Does 4-Her
understand why it is important to spend time on product
development?Has the 4-Her worked with a Leader/4H Mentor on product
ideas?Has the 4-Her identified a product with a niche market?Has
the 4-Her selected a product that is within their ability to
produce/secure?Has the 4-Her demonstrated that they gathered
information about their product prior to producing/securing a
prototype?Has the 4-Her weighed the risks of producing/securing
this product?Has the 4-Her demonstrated they understand the
profitability of the product?Has the 4-Her mentored another club
member in this area?Totals:Leader Signature:Date
Passed:CompetenciesThe following competencies assess the 4HMB
owners:Ability, Expertness, Aptitude, Skill,Capability,Strength,
Qualification,Talent123456789LowestToHighest
13Pricing3. Pricing123456789Does the 4-Her understand why it is
important to price their product correctly?Has the 4-Her considered
the cost of producing their product when deciding on a retail
price?Has the 4-Her worked with a Leader/4H Mentor on how to
determine a price for their product(s)?Does the 4-Her understand
both fixed and variable costs?Does the 4-Her have a written budget
including expenses when deciding on a price for their
product(s)?Has the 4-Her considered their competition when pricing
their product(s)?Does the 4-Her have a plan in determining price
elasticity?Has the 4-Her used a marketing tool to determine the
price of their product?Does the product price allow for the
opportunity of a profitable business?Did the 4-Her consider their
time and/or employee expenses when pricing their product?Does the
4-Her continue to monitor their competition and customer demand in
order to determine if their pricing is correct?Has the 4-Her
mentored another club member in this area?Totals:Leader
Signature:Date Passed:
14Financial Management4. Financial Management123456789Does 4-Her
understand why it is important to know how to count back
change?Does 4-H have access to starter cash?Has the 4-Her worked
with a Leader/4H Mentor on how to count back change?Has the 4-Her
worked with a Leader/Adult/4H Mentor on how to organize their
money?Has the 4-Her demonstrated that they can make correct
change?Has the 4-Her demonstrated the proper way to count back
change before placing the customers larger bill in their till?Has
the 4-Her demonstrated that they can keep their money organized in
their money box?Has the 4-Her demonstrated that they can cash out
their till?Does the 4-Her have a written plan of how their business
income will be allocated?Has the 4-Her demonstrated they can manage
their cash flow?Has the 4-Her mentored another club member in this
area?Totals:Leader Signature:Date Passed:
15Record Keeping5. Record Keeping123456789Does 4-Her understand
why it is important to keep records about their business?Does the
4-Her have a system of record keeping?Has the 4-Her worked with a
Leader/4H Mentor on how to keep accurate records?Has the 4-Her
demonstrated that they can keep record of their business?Has the
4-Her demonstrated that they can use their records to gain a better
understanding and/or improve their business?Does the 4-Her use
technology to keep their records?Has the 4-Her mentored another
club member in this area?Totals:Leader Signature:Date Passed:
16Customer Service6. Customer Service123456789Does 4-Her
understand why it is important to provide good customer service?Can
the 4-Her give an example of business that provides good customer
service?Has the 4-Her participated customer service role
playing?Can the 4-Her list principles of good customer service?Has
the 4-Her worked with a Leader/4H Mentor on how to provide good
customer service?Has the 4-Her demonstrated that they can perform
good customer service by both welcoming and thanking their
customers?Does the 4-Her provide a way for their clients to reach
them after the sale?Does the 4-Her provide refunds/replacements for
defective products? Does the 4-Her provide their customers with a
small token of appreciation?Has the 4-Her mentored another club
member in this area?Totals:Leader Signature:Date Passed:
17Product Marketing7. Product Marketing123456789Does 4-Her
understand why it is important to market their product(s)?Does the
4-Her produce or resell a valued product?Can the 4-Her name
SOURCES?...TECHNOLOGY?....to use in developing a marketing plan for
their product?Has the 4-Her worked with a Leader/on how to market
their product(s)?Has the 4-Her demonstrated that they have taken
efforts to market their product(s)?Has the 4-Her changed/improved
their product image since they opened for business?Does the 4-Her
ask if the customer would like anything else or suggest another
item?Has the 4-Her demonstrated that they engage in active
listening (looking for key words by customers that could make or
increase their sale)?Does the 4-Her have a written marketing plan
for their product?Has the 4-Her increased the value of their
product through value-added efforts?Has the 4-Her developed
advertising for their product?Has the 4-Her mentored another club
member in this area?Totals:Leader Signature:Date Passed:
18Professional Image8. Professional Business Image123456789Does
the 4-Her understand why it is important to maintain a professional
personal and product image?Does the 4-Her dress appropriately for
their business product?Does the 4-Her speak in a professional
manner?Does the 4-Her make a good first impression on their
potential customers?Does the 4-Her ask the advice of leaders/other
club members on how they can improve their professional image?Has
the 4-Her demonstrated they can remain calm with difficult
customers?Has the 4-Her demonstrated that they treat their
customers with respect?Has the 4-Her demonstrated that they
understand what creates a professional image (ie not: chewing gum,
eating, ignoring their customers, speaking harshly but, being
attentive, standing, listening, assisting)?Has the 4-Her mentored
another club member in this area?Totals:Leader Signature:Date
Passed:
19Security9.Security123456789Does the 4-Her understand why it is
important to be aware of the need for securing their money and
product(s)?Has the 4-Her participated in role playing where
security issues arise?Has the 4-Her worked with a Leader/4H Mentor
on how to secure their money and product(s)?Does the 4-Her
understand the importance of only handling their money and not
becoming involved in another business financial transaction unless
asked to do so by the business owner?Does the 4-Her have a plan to
keep their business income & product(s) safe?Does the 4-Her
have a plan to deal with large bills/large sums of money?Has the
4-Her demonstrated they use care when making a money
transaction?Has the 4-Her demonstrated that they take precaution
when caring for their starter cash prior to and setting up for a
show?Has the 4-Her demonstrated that they keep their money either
locked or secured throughout a show?Has the 4-Her demonstrated that
they take precaution when caring for their income at the end of a
show?Has the 4-Her mentored another club member in this
area?Totals:Leader Signature:Date Passed:
20Business Expansion & Review10. Business Expansion &
Review123456789Does the 4-Her understand the importance of business
expansion? Does the 4-Her have a written business plan?Does the
4-Hers business plan include both short and long term goals?Does
the 4-Hers business plan include a timeline for growth, goals, and
strategies?Has the 4-Her outlined their businesses strengths?Has
the 4-Her outlined their businesses weaknesses?Has the 4-Her
outlined their businesses opportunities?Has the 4-Her outlined
their businesses threats?Has the 4-Her demonstrated they are using
their business plan to grow/improve/alter their business?Has the
4-Her demonstrated that they are actively reviewing their business
plan annually?Has the 4-Her mentored another club member in this
area?Totals:Leader Signature:Date Passed:
214HMB Program OverviewIndependent StudyForm DevelopmentClub
PresentationMentoringNon-Club PresentationSchedule Field Trip
Secure SponsorshipWrite ArticleInvite Friend to Club MeetingJob
ShadowingCommunity ServiceOfficer * Years in Business
4-H Means Busine$$
22How 4-Hers Join4HMB Owners:1) To set up and sell as a 4HMB
owner, you must first contact your 4-H agent in your county.2) You
need to come up with a business idea. Its better if you pick a
product that you like and would buy yourself.3) You must find the
supplies and/or a supplier for the items that you would like to
sell.4) You must submit your items to your leader to go through a
jury process and you will get feedback.
4-H Means Busine$$
23Pinnacle To Show at the Kentucky State Fair:I certify that the
4HMB owner: _________________________ : 1.is not selling a
perishable or consumable item, 2.has set up and worked in their
business at 2 separate shows, 3.is a member of our registered 4HMB
Club, 4.is a member in good standing of the 4HMB Club, 5.has passed
a minimum of 50% of each competency, 6.submitted their product(s)
and passed our countys jury process, 7will personally work in their
business at the fair, 8and will be chaperoned at a 1 adult for
every 2 youth ratio.
4-H Means Busine$$
24What 4-Hers Worry AboutYou have to constantly think about what
you can do better or what you should change. (Marketing)Worry when
at a show you cant leave your booth without someone watching it or
else someone could steal something. (Security) Its kind of like you
have to be ready to sell whenever a customer wants to buy something
because you dont want to offend them and you want to make the sale.
(Customer Service)
4-H Means Busine$$
254-H Means Busine$$
Show Name: _______________________________________________ Date:
_______________ Location: ______________________________________
Length: ___1 day ___ 2 days ___3 daysShow
contact:_______________________________________phone:___________________________Comments:
_________________________________________________________________________Total
Number of Item(s) sold: ____________ Consider Participating in this
Show Again: ___YES ___NO $_____________ - $_______________ =
$________________ Starter Cash)Ending cash Gross
Profit$________________ - $________________ = $ _________________
Profitable Show: Y NGross Profit All Expenses Net ProfitItemized
Record of Sales
ItemNumber SoldSelling Price $(The individual price of each item
sold)Unit Cost $(Cost of each item)Unit Profit $(Selling
price-cost= the amount of money you made on each item.)
26IncomeContribute - Required 10%Spend - Re-Invest - Save -4-H
Means Busine$$
27TechnologyReceiptNo.101Payee Name: Address:City, ST ZIP
Code:Just For You115 Old Bridge RoadDanville, Kentucky
40422DateDescriptionAmount10-4-10Green and White Pandora Style Cuff
Bracelet with Spacers Subtotal Total Designs By:Griffin l
blevins
Point of SaleSquare Up
4-H Means Busine$$
28
4HMB Owner Created FormCreated b Giffin Blevins, May 20114-H
Means Busine$$
29Certificate of EstablishmentThis Certificate confirms that
Bailee WatsonBoyle County 4-HerIs a Kentucky 4-H Means Business
Certified Member in Good StandingDoing Business As
____Charmed______ Established ___2009___
_______________________________________________________Kentucky
4-H Assistant Director for 4-H Youth
DevelopmentDate_______________________________________________________Kentucky
4-H Youth Development Specialist, Entrepreneurship
CoordinatorDate_______________________________________________________Kentucky
4-H Youth Development Agent, Boyle CountyDate
30Businesses Develop & Grow
31
