Toys by Teens, LLC was formed by the not-for-profit group Teen Entrepreneur Boot Camp to create a real-working business model to teach students about entrepreneurship. Dr. Howard Wexler, inventor of the game Connect Four, donated a new invention to the project for the students to launch into the marketplace. The eventual revenue earned from sales will be used to offer this free program to new teams of students.
Monday, July 26, 2010
Ground Booty Day 4
Today was an eventful and knowledgable day. Our schedule was jam packed with three speakers. John, the owner of the frying pan, spoke to us first about the legal ins and outs of a business. We were informed about employee regulations, payrolls, and taxes. We also spoke about the numerouse different insurances necessary to be a "legal" business. Who would have known that an owner has to pay disability incase a workers severly injure themselves on the job!?!? After John spoke, Michael Hoefier came to talk about the importance of signage. Together we walked around the pier to find good places for our advertisements. We decided on doing a large poster for the bow of the ship. Once we reassembled, Michael told us about his job. He goes around the country, hired by one business, to make sure that the signange in each place is the same. This helps for a customer to know what is part of the business and what isnt. His example was, "How do you know if the valet service is provided by the four seasons? " He told us that fonts and colros help categorize a business by allowing the customers to know what is theirs and what is not. After this lesson we took our unch break. At the end of the day JC, a third professional who helped us with our press release, came by to start work. We sat down together and brainstormed spitball points which must get across in the release. Unfortunately it was 5:00 and not much of the release was finished. Tomorrow we will finally finish and advertise our business!!!
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