ENTREPRENEURSHIP
WHAT IS ENTREPRENEURSHIP?
The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. At M.O.RE of Baltimore Homeschool, we teach students the
CORE 4 Concepts of Entrepreneurship.
Why we teach the CORE 4 Concepts of ENTREPRENEURSHIP...
We teach students that having your own business is not the same as being an entrepreneur. A “business owner” is someone who is self-employed. They provide products and services to customers for money. However, that does not mean they are an “entrepreneur.” In many cases, they have simply created a job for themselves.
ENTREPRENEURS are DIFFERENT!!
An entrepreneur is someone who understands and employs the CORE 4 Concepts. They follow these steps:
1. CULTIVATE 2. CREATE 3. COMMUNICATE 4. COLLECT
WE BELIEVE that everyone has the potential to be an entrepreneur and have a great impact on their community.
CORE 4 Concepts of Entrepreneurship
1. CULTIVATE an idea
2. CREATE the product/service
2. CREATE the product/service
If there's a problem to be solved - your idea might be the solution...And that solution is a business. Devote time and thought into creating a product or a service.
2. CREATE the product/service
2. CREATE the product/service
2. CREATE the product/service
Develop a product or service that can deliver something other companies don’t (or deliver the same thing, only faster and cheaper).
3. COMMUNICATE in person and online
3. COMMUNICATE in person and online
3. COMMUNICATE in person and online
Now that you have that great idea...Don't keep it to yourself, let everyone know! Marketing and advertising can be done in person or online. Always use cost-effective or free ways to advertise your new business.
4. COLLECT payments
3. COMMUNICATE in person and online
3. COMMUNICATE in person and online
It's great to offer a few products or services for free (at first). But without making sales and collecting payments, you may not have a business - it may be a hobby. Entrepreneurs make sales!
Youth Entrepreneurship Opportunities
Kerrington and Kensley presented and won an award for their Beauty Bar business at the Howard County Children’s Business Fair on May 21, 2022.
M.O.R.E of Baltimore Homeschool students/parents are encouraged to apply to the Children’s Business Fair in their area. As new events are scheduled, we’ll add info here.
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