DC TRUST Guide 1023 - Children & Youth Investment Trust ...

c. Program explores the opportunities, risks and demands of different kinds of business
ownership (e.g. sole proprietorships, partnerships, corporations).
d. Program examines the differences between short-term and long-term profits.
e. Program explores the relationship between supply and demand.
f. Program explores the role of government and how regulations relative to taxes, employees’
social security, workplace regulations, health insurance, etc., affect entrepreneurs.
g. Program provides the opportunity to choose a hypothetical product, identify a buyer’s
market, and then determine how much that market would be willing to pay for the
product.
5. Program offers young people practical experience in developing the basic
financial skills that are required in business.
a. Program teaches the basics of personal financial management (e.g. checkbook balancing,
creating and implementing a budget, record keeping, financial planning and comparison
purchasing).
b. Program explores why keeping good records is essential to both business and personal
success (e.g. personal taxes, tracking monetary transactions, documenting communications,
collecting contacts, preparing proposals, grant compliance).
c. Program identifies various types of business records and guides young people in their
application.
d. Program teaches how to create formal business statements from business records and
how to analyze and use the resulting data.
e. Program guides young people in tracking personal expenses for a specific time period
and examining what they have learned from the experience.
6. Program teaches young people specific business skills particular to
entrepreneurship.
a. Program teaches how to research and estimate the cost of manufacturing a product.
b. Program teaches how to identify and estimate start-up costs for an entrepreneurial
endeavor.
c. Program teaches how to identify and approach varied sources of funding (e.g. family,
friends, personal savings, grants, bank loans, venture capital).
d. Program teaches how to read annual reports of businesses to determine profit or loss.
e. Program teaches about buying in bulk and wholesale.
7. Program gives young people the opportunity to develop a business plan/proposal
for an entrepreneurial venture.
a. Program explores the differences between vision (why you’re doing it), goals (what you’re
going to do) and objectives (the steps you’re going to take to get there).
b. Program guides young people in developing a vision statement for their ventures and
monitoring the achievement of that vision.
c. Program guides young people in the creation of a business plan.
d. Program helps young people understand the roles necessary for fulfilling their vision and
how to engage others who will fill those roles.
Field Guide to OST Best Practices / High-Interest, Hands-On Activities / 29