Southern Entrepreneurship Program

SOUTHERN ENTREPRENEURSHIP PROGRAM

Master Teacher of Entrepreneurship (MTEnt) ProgramJames B. WilcoxCenter for Economic and Entrepreneurship EducationThe University of Southern Mississippi

Overview of the Training Program Day 1 – Entrepreneurship

Fundamentals Southern Entrepreneurship Program Objectives State Entrepreneurship Curriculum What is Entrepreneurship? STAR Profile Recognizing Opportunity Building Local Coalitions Building Business Plans Assessment

Overview of the Training Program Day 2 – The Competitive Advantage

The Building Blocks of Business Types of Businesses Return on Investment Supply and Demand Innovation and Entrepreneurship Developing a Competitive Strategy Customer Service Civic Responsibility Business Plan Review 30-Second Business Plan Presentation (The

Elevator Pitch) Assessment

Overview of the Training Program Day 3 – Marketing and the Business

Plan Working with Mentors Understanding Effective Marketing Advertising and Publicity Successful Selling International Opportunities The Exit Strategy Working with Local Boards/Business Plan

Review Engaging Entrepreneurs in the Classroom 3-Minute Business Plan Presentation Assessment

Overview of the Training Program Day 4 – Business Finance

QuickBooks Business Financing Cash Flow Investing Insurance Protecting Your Credit Panel Discussion: “Where’s the Money?” (Debt

and Equity Financing) 7-Minute Business Plan Presentation Assessment

Overview of the Training Program Day 5 – Corporations and

Management Incorporation Taxes Franchising Doing Business Day-to-Day Managing Employees Assessment

Expectations for the Course

Instructor On time, on task, and on board

Participants ?

State of Mississippi and MCEE Pass the five MTEnt assessments Create and submit two lesson plans (TOY

award at annual MCEE Forum) Participation in two additional

programs/trainings IC3 ?

Today

Day 1 – Entrepreneurship Fundamentals Southern Entrepreneurship Program

Objectives State Entrepreneurship Curriculum What is Entrepreneurship? STAR Profile Recognizing Opportunity Building Local Coalitions Building Business Plans Assessment

SOUTHERN ENTREPRENEURSHIP PROGRAM“BUILDING FUTURES, CHANGING LIVES”

SEP Overview

Why? The Mid-South Region has a long history

Pervasive poverty (United States Census Bureau, 2008) U. S. 12.7% Alabama 16.1% Arkansas 15.6% Louisiana 19.2% Mississippi 19.3%

Less-skilled workforce Most of the region’s businesses have fewer

than 50 employees or less

SEP Overview

Why? The Mid-South Region has a long history

Educational underachievement Brain drain Manufacturing Decline – from 21% to 10%

from 2000-2010

SEP Overview

Why? Project background

Result of work started at Delta State University

No youth were involved in entrepreneurship programs in the region

Ready and willing partners existed

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What? High school-based program

Capitalized on existing core classes: Personal Finance Entrepreneurship

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Piloted in 4 high schools in 2007-2008 Hattiesburg Petal Gulfport Laurel

Expanded to 8 schools in 2008 Expanded to 16 schools in 2009 Expanded to over 20 schools in 2010When?

During the regular school year

SEP Overview

Program implementation Met with school superintendents, boards,

principals, and teachers (top-down, bottom-up)

Generated support from local communities Economic development organizations Chambers Civic organizations

Started with a lot of faith and phone calls

SEP Overview

Program Objectives – Objective 1 Identify one or two classes of fifteen

students per school district to participate in the nine-month training program Juniors preferred

School districts engage in training using existing classes—entrepreneurship and personal finance

Each school and partner encouraged to make it “your” program

SEP Overview

Program Objectives – Objective 1 “Embedded” Entrepreneurship concept

(Lauer, 2005) results: Strong economic ties Strong community network Development of a small business network Promotion of local business development

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Outcomes – Objective 1 In 2007-2008, of the four schools, 64 of 70

students that started the program finished it (91%) Only two dropped out in a state that has a 38%

dropout rate (Mississippi Department Education, 2008)

In 2008-2009, no students dropped out of the program or school

In 2009-2010, no students dropped out of the program or school

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Outcomes – Objective 1 Seven businesses functioning (2007-08) Fourteen businesses functioning (2008-09) Twenty-four businesses functioning (2009-

10) Additional certifications needed

Nearly half of the high school students indicated that they no longer wanted to be entrepreneurs

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Outcomes – Objective 1 Ice Cream marketing

Tropical Concoctions (strawberry daiquiri sherbet)

College Connections (based on college colors)

Death By…. (dark chocolate ice cream from Hell)

Peanut Butter Heaven (ice cream sandwich)

Southern Belle (vanilla bean, red velvet bon bons)

SEP Overview

Program Objectives – Objective 2 Provide entrepreneurship training to the

participants Program includes basic accounting and

marketing training and also results in the development of a business plan

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Outcomes – Objective 2 Student readiness for core testing in the

high school program and for participation in business competitions

Guest lecturers Entrepreneurs Representatives from financial institutions Business development professionals

(incubator directors and Small Business Development Center representatives)

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Outcomes – Objective 2 New networks Presentation skills FBLA entrepreneurship competition

Gulfport HS – 2nd place in state competition

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Program Objectives – Objective 3 Provide students with QuickBooks

training enabling them to be more effective in their fledgling business efforts

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Outcomes– Objective 3 Students created accounts for their

fictional and actual businesses 2 schools used student-run businesses

established in the high schools Students used QuickBooks to monitor

sales, track inventory, and issue purchase orders

Bootstrapping contest was born

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Program Objectives – Objective 4 Increase the likelihood of new

entrepreneur success by engaging existing business leaders who serve as mentors for the program participants Ideally, program participants are partnered

with mentors in similar business fields

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Outcomes – Objective 4Fall – “Getting Connected”

What is entrepreneurship? Who are entrepreneurs?

Winter – “I Am My Own Boss!” Getting funded Staying in business

Spring – “Building My Future, Today” Business plan competition

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Program Objectives – Objective 5 Provide stimulants for new business

development by providing program graduates opportunities to obtain private funding options Participants present business plans

constructed in the program to panels of funders for funding consideration

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Outcomes– Objective 5 Business plan competitions for high school

students were held with awards and support services provided to award winners

One business plan per high school received one year’s free rent and services at local business incubator This will hopefully continue with future

program participants as available.

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Outcomes– Objective 5 (cont.) Business plan competition (2007-2008)

Uniform Corner Sea Flight The Snow Shack

Uniform Corner

Sea Flight

The Snow Shack

SEP Overview


The Stained Rainbow i-Cook Fat Daddy’s Seafood H & A Enterprises

The Stained Rainbow

i-Cook

Fat Daddy’s Seafood

H & A Enterprises

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Bay City Lawn Service Personalize MarkIT Boards by Kristen Formalities Tuxedo Wear O.W.L.S.

Bay City Lawn Service

Personalize MarkIT Boards by Kristen

Formalities Tuxedo Wear

O.W.L.S.

SEP Overview


HairDo Headbands Petal Afterschool Program BPace Productions Simply Sunless: Custom Airbrush Tanning

HairDo Headbands

Petal Afterschool Program

BPace Productions

Simply Sunless: Custom Airbrush Tanning

SEP Overview

Program Objectives – Objective 6 Conduct on-going evaluation efforts

throughout the program development and implement processes to assure that all tasks in the effort are completed in an efficient and effective manner

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Outcomes – Objective 6 Evaluation measures

Pretests Posttests Results to be distributed back to the schools

and to the communities Results used for program enhancement

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Outcomes – Objective 6 www.theSEP.org

Designed with the students and participants’ assistance

Created with the end user in mind Highly adaptable Best practices

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Program Objectives – Objective 7 Enhance and sustain the work of SEP

partners by enhancing their ability to maintain an ongoing entrepreneurial development program with local funds

SEP Overview

Outcomes– Objective 7 SEP began with no external funding Any external funds identified were used to

augment the ongoing efforts Funds were raised from the business

community Support the schools’ attendance at SEP

symposiums Purchase texts

Additional symposium sponsorships

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Outcomes– Objective 7 Sustained financial support

Line-item budget Additional support will continue to be

sought at the local level from the business community

Affiliated with the Mississippi Council on Economic Education (MCEE) and Mississippi Department of Education

Why SEP and Why Now?

What does it take to be involved? Teacher(s) Texts Training Commitment from project partners Willing students Travel to symposiums/workshops Identification of mentors


Why will SEP work? Ready need Ready support from government, business,

educational, and civic organizations “Let’s be honest—it’s dang sexy.” - Brent

Hales Students get it

Use of electronic media


Can SEP work for me? Use of regional partners

Community Colleges WIRED* Initiative – The Montgomery

Institute Economic Development Organizations Chambers School Boards Media

*Workforce Innovation in Regional Economic Development


Lessons Learned People/entities want to help Involvement of regional partners Networks matter Involvement of mentors Economic development organizations First generation college students

Seniors dually enrolled in community college Higher educational expectations

Resources / Inputs

Resources provided by Center for Economic and Entrepreneurship Education (CEEE)/USM

Capital: My/Brent’s time Graduate Assistant Travel to sites for in-class participation Assistance for retreats Telecommunications and printing

Southern Entrepreneurship Program

Documents

Transcript of Southern Entrepreneurship Program