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YOUNG ENTREPRENEURS: Be Your Own Boss
Entrepreneurship is hot! A recent poll found that nearly 60% of teens aspire to start their own businesses.
Every year, Junior Achievement of New York holds a student business plan competition that provides training in business and entrepreneurship skills. We follow a group of hardworking high school students as they learn how to develop their ideas into business plans with the help of a volunteer and their teachers. The volunteer guides the teens through several steps: how to get an idea for a business, research information, develop a financial plan (including costs and expected profits), and divide responsibility amongst chief executive officers. We find out who makes it to the final competition and how the students benefited from participating in the program.
Along the way, we meet some ambitious, self-motivated young people who put these financial skills into action, turning their hobbies and passions into successful businesses: an accomplished magician; a musician who built his own recording studio; a thirteen year old jewelry designer; the owner of a sporting goods store; teens who design and sell colorful furniture; and an NFL hopeful who became a personal trainer. They share why they decided to become entrepreneurs, how they got their businesses off the ground, as well as the personal and financial rewards. They also offer advice to other young hopefuls on how to "be your own boss."