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Young Entrepreneurs | 24-28 June, 2024 | St Clements School

Day 5: 

Hi everyone!

We had an amazing week! We all finalised our products and went through the last stage of the sales funnel, which is advocacy. This refers to when customers spread the word about your products! 

Thank you all for a great last day, and have a great rest of your summer!

Mahveen :)

Day 4:

Hi everyone

Today we designed marketing posters to go up on the Explorer Hop Instagram page - check our page @explorerhop later today to see them!

We have been working extremely hard, and our product pages will be up and active very soon! Check your emails for a notification of when our products are for sale!

We went over the loyalty aspect of the sales funnel, meaning when a customer is loyal and dedicated to our business, and we went over how we could go about achieving this.

See everyone tomorrow!

Day 3:

Hi all!

Our group worked extremely hard today, and we got a lot done!

First, we reviewed our Google Form survey to see if we had any other feedback for our product planning. After this, most of our time was focused on actually creating our business products, and finalising what kinds of bundles and deals we will be offering.

We took small breaks from working on our products by learning about how the conversion aspect of the sales funnel, which is the part where customers actually decide to give our product a try! 

We also discussed what a SWOT analysis is - this stands for Strengths, Weaknesses, Opportunities and Threats. This helped us further consider how to carefully create our product keeping in mind what the strengths and weaknesses of our businesses are, for example the fact that our products are all unique (posters with hand drawn details, hand drawn stickers, personalised and authentic cooking recipes), but also the fact that we are starting with no money and must run our business 100% online! We also considered what opportunities we could take advantage of, such as which groups of people we can cater our products to, and threats such as competitors who have products which have other unique features.

I'm excited to work with this bright group again tomorrow!

Mahveen :)

Day 2:

Hi everyone!

We had a great second day of building our start-ups and so many great ideas came to us today! 

We began by doing activities in our booklets about customer awareness and customer consideration when buying a product. We brainstormed what we usually consider when buying a product so that we can think not only from a business owner's point of view, but also from a customer's point of view before they decide if they want to buy our product!

We then looked over our Google Forms surveys to see if we got any responses, and based on the responses we did get, we were able to get a better idea of what our potential customers would be looking to purchase from us! We then created multiple different options for our products.

Coco - different types of stickers (e.g. animals), individual stickers and bundles 

Sharon - short breakfast, lunch, dinner and treats cook books (with about 3 recipes in each)

Elise - posters of animals in different habitats

Now that we knew exactly what we would be creating, we started looking at how our competitors (other companies and small businesses producing the same goods as us) were pricing their products. We analysed what the average price was for our product, and decided what price our start-ups should sell our goods for, and whether we should have any special offers or bundle deals.

To add on to that, and to finish our class off, we looked at the concept of supply and demand, and how these factors affect product pricing. 

Same as yesterday, please send out the market survey Google Form to as many people as you can! This will help our young entrepreneurs perfect their products!

See you all tomorrow!

Mahveen :)

Day 1:

Hello all!

We had an amazing first day and I was so excited to meet our bright young entrepreneurs! Today, we went through all the basics of starting a business, including our operations plan and product plan. We decided what businesses we are going to create, why we are choosing to sell the products we picked, and which charities we are donating the proceeds to!

Coco - Coco's Stickers - proceeds going to Sunnybrook Hospital

Sharon - Creative Cookbooks - proceeds going to Daily Bread Food Bank

Elise - Peaceful Posters - proceeds going to Sick Kids

Today, we also created a Google Forms survey to be sent out to as many people as possible - this is part of our market research! The survey is designed to gain insight into what kinds of specific products people would want to buy. Parents, please ask your young entrepreneur for the link to their Google Form and send this to as many friends and family members as you can so that we can help our start-ups grow!

We looked at the first aspect of the sales funnel - this is the process of gaining a loyal customer base, from the moment people become aware of our products all the way to when people advocate for our products and spread the word about our amazing service!

We also touched on the importance of great customer service, and how this is one of the best ways to grow our companies by making our customers feel welcomed and heard!

Disclaimer

We understand that most people don't read the fine print when they enrol in a program, so we wanted to let you know about photos: the instructor may take photos during the class. Rest assured, these photos are never sold or commercially traded. We may use your child's photo on our blog, newsletter, or social media to celebrate their achievements, but we'll never use their full name, school, or other identifying information unless you give us permission. If we post photos during camp, we'll inform you so you can share them with friends and family.

I look forward to seeing everyone tomorrow!

Mahveen :)

Welcome to Young Entrepreneurs!

Welcome to the thrilling world of startups! 🌟

Have you ever wanted to start your own business or wondered how people do it? Well, you are about to find out! Through lots of hands-on activities, you will develop an idea, create a digital product, and learn how to launch it! 🚀💼 We focus on digital products because that is the future!

Before our first class, your challenge is to brainstorm ideas for businesses. This week, our classes are small, so our young entrepreneurs can choose to either collaborate on a business together or take on the exciting challenge of creating one on their own—which does require a bit more work.

All proceeds from your businesses will be donated to a registered charity of your choice, so you’ll be making a difference while learning how to become an entrepreneur!

Get ready for an exciting adventure in the world of entrepreneurship!

See you soon!

Meet your Instructor

 

Your instructor this week is Mahveen Khalil.  Mahveen has been teaching our programs in schools for more than a year and is very much loved by the students.  She is studying psychology at the University of Toronto.  She has lived in more than 4 countries and brings a very international perspective to her classes.  

She can be reached via email: Mahveen@explorerhop.com

  

Program time and location

Date: June 24-28, 2024

Program Time: 9:00am - 12 noon

Address: St Clements School, 21 St. Clements Ave, Toronto, Ontario M4R 1G8

Student arrival time: 8:50am    

The instructor will meet all the students at the gate at 8:50am and take them to the class.  There is a lot of construction in the area, so please allow for traffic and subway delays. The facility has informed us that the gates will close at 9am so we strongly urge you to be on time.  

Student dismissal time: 12 noon

Students will meet their parents / guardians at the entrance gate at 12 noon.  Please be at the gate on time so that the pickup is seamless.  

What should young investors bring

  • Device - as the young entrepreneurs are making a digital product, it would be useful for them to bring a device.  Students are responsible for their own devices. 
  • Snack - the usual nut free, peanut free rules apply along with no-sharing of snacks due to allergies. 
  • Water Bottle

Topics Covered

TOPICS COVERED

  • Create Business Ideas

  • Develop Business Plans

  • Create Marketing Campaigns

  • Implement Operations Plan

  • Develop Product Pricing

  • Create Financial Plans

  • Develop Products

  • Launch Your Own Business!

Allergies/ Health Issues

If your child has any health issues, learning concerns or allergies (including if they use an EPI pen) please email mahveen@explorerhop.com and let her know.  Due to insurance reasons, our instructors cannot dispense medication or epi pens but will call the parent and 911 in the event of a medical emergency. 

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