5 Things I Learned from Youth Enterprise Day Camp
I recently had the opportunity to help Head Start in Business run their Youth Enterprise Day Camp for a week in Kenora. Youth Enterprise Day Camp is a camp for youth aged 9 - 13 and it introduces them to entrepreneurship through a variety of games and activities with the opportunity to run their own ‘Business for a Day’ at the end of the week. The campers come up with an idea for a business at the start of the week and then work through the logistics: sourcing materials, pricing, getting financing, production and marketing. It truly is a great experience for youth to introduce them to the world of business at such a young age and get them thinking about our world through a different lens. It was my first time attending the camp and being in that kind of environment, so not only was it a learning experience for the youth but myself as well!
Here are 5 things that I learned from participating in Youth Enterprise Day Camp:
1. The Drive to be an Entrepreneur Starts at a Young Age
Many people are often under the impression that you need to be an adult with a degree in business to be able to be a successful entrepreneur and that notion is simply not true. The drive to become an entrepreneur often starts from a young age and being a young entrepreneur doesn’t prohibit success. During the week we were able to visit Alexis Pernsky the owner of Sweet, Lake of the Woods a chocolate shop in downtown Kenora. Alexis told a story about starting her first business in high school, a bakery, and while it wasn’t the most lucrative of businesses it allowed her to do things other kids couldn’t and save up for university. Many of the campers had already dabbled in business ventures as well, some of them sold baked goods or had run lemonade stands in the summer. Again, while perhaps not the most lucrative of ventures, it allowed them to earn their own money and gain valuable lessons at the same time.
2. Passion is Key
While I wouldn’t say that this a concept I ‘learned’ at Youth Enterprise Camp I would say that this concept was highly emphasized and relevant during my week helping out. To start fleshing out some ideas for a business early in the week the campers were asked to share things they enjoyed doing or were passionate about with the group. It just so happens that some interests and passions are much more difficult to make into a viable business then others and some campers weren’t able to produce products that they were super passionate about. Once production day came around it became very evident which campers were super enthusiastic about their product and which ones were not. Those who were not had trouble staying focused while those who were were strictly business all day long and this was apparent in their finished products. Passion is key and your customers will notice the difference.
3. Technology is a Game Changer
Growing up we didn’t have access to the same technologies that youth do today. Youth today are very adept to using technology to their advantage. Once the campers had their business ideas they were tasked with figuring out how they were going to make these ideas a reality. This meant figuring out what materials they needed, what they cost and how to price their product accordingly. Almost every camper was able to bring in a ‘smart’ device, whether it was a laptop, tablet or a cell phone. With very little assistance the campers were able to research materials they needed, find them in online stores to figure out what they cost and then use the formula provided to figure out a price point for their product. I know numerous adults that would have struggled with this task. It was amazing to watch.
4. Be Prepared for your Idea to Not Work Out – Be Able to Adapt
This one has a pretty funny story every parent can probably relate to. One of the campers had decided to make tie dye socks as one of her products…great, good idea right? Turns out that in order to make tie dye socks you need to wash the socks beforehand so that the dye actually soaks into the material. After letting the socks dry overnight he camper woke up the morning of market day and her socks were unwearable. The dye from the socks soaked right into your skin when you tried to pick them up (her mom came in the morning and her hands were dark purple). Luckily she had created another product to sell but she improvised and also brought lemonade as a replacement for the tie dye socks. It was a sunny hot day and she was able to sell out and make a hefty profit. In business, things don’t always go as planned, be prepared and be able to adapt.
5. Dream Big
Often you hear people say ‘set goals that are achievable you don’t want to be disappointed if you don’t reach them.’ While there may be some merit to that there is also merit in dreaming big. When the campers were asked how much of their product they thought they would sell almost everyone replied ‘all of it!!!’ In reality, only a few campers were able to completely sell out of their products but everyone was still able to produce a profit. The ones that didn’t sell out weren’t disappointed but instead were thrilled that they had made some money that they could then go spend on things they wanted. Businesses often set very conservative goals in hopes of achieving them and meeting milestones, which is great but there is also room for the business owners that set the bar high and are still satisfied if they don’t meet it.
Cory Jones