Children these days are more focused and ambitious than ever before. Everyone these days wants to start a business of their own and do something big. As part of teaching and training children to be successful entrepreneurs, Grade 6 students of my school are part of a major entrepreneurship project, which is a stepwise project where the kids get hands-on experience about starting a business venture of their own.
1. The programme starts with the kids forming groups of five or six among themselves and distributing different roles. They brainstorm as a group and come up with a product that they wish to manufacture and sell.
2. Once the product is fixed upon, they list out the raw materials that would be required for the same. The teachers are merely guides and look upon the process leaving the decision making to the children.
3. Once the raw materials are decided, each group member does a market research to find out the best prices for their raw materials.
4. They do the costing, estimate profits and finally make a presentation in front of their venture capitalists – their parents, explaining to them about their product, costing and the profits with the help of slides and advertisements strategies.
5. Once the parents are convinced, they lend the required money to the children which is used by them to manufacture their products.
6. The programme finally culminates with a Market Day where these products are sold by the children using different marketing strategies and offers.
7. At the end of it, the money borrowed from parents is returned to them and the profits collected goes to charity.
Truly a noble way of nurturing future entrepreneurs, don’t you think??