2. How it became a business idea…… Bart Aslin, the CEO or The SME Education Foundation placed an order for 500 whistles to be manufactured by students at Austin Polytechnical Academy (APA). A total production run of 700 whistles was initiated including Bart’s order for 500, Bob Isossi’s (SME Chapter 5) order for 100 and an additional 100 for CLCR funders. 5 Students were provided a summer job producing whistles in the machine shop. CPS paid the students a stipend as part of their summer jobs program.
3. Dan Swinney, Executive Director of CLCR “By working within a legitimate contract to manufacture an item of value, students learn real-world economics, manufacturing and business skills. We are looking forward to working with the SME Education Foundation as we pursue other opportunities to replicate this applied learning program. Maintaining the flow of work for hands-on experience is key to preparing APA students for leadership in advanced manufacturing,”
4. How it becomes a business …… Trial the product idea Determine costs and manufacturing steps Investigate market opportunity (will they sell?) How much does the product cost to make and how much can it be sold for? Create a full business plan investigating all aspects of the business
18. Who will have fiduciary responsibility for the business?
19. Can you create a separate class just to write the business plan and learn about business?
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21. Resources: SBA Small Business Planner http://www.sba.gov/smallbusinessplanner/index.html -- Click on "Finance Start-Up" -- Then click on "StartUp Costs" -- Then click on "Business Know-How StartUp Calculator" Citibank Small Business Guide Series http://financialeducation.citigroup.com -- Click on "Becoming an Entrepreneur"
22. Learning to make a product, provide a service and start and run a business will help our students be entrepreneurs and business leaders!
