Young entrepreneurs learn about running businesses

WINSTED — A CEO roundtable meeting for nine students enrolled in the Young Entrepreneurs Academy (YEA!) took place on Wednesday, Feb. 4, at the Northwestern Connecticut Community College’s (NCCC) Draper Conference Center.

According to YEA! Director of Programs Lauren Smith, the program takes students from grades six to 12 through the process of starting and running real businesses during a 30-week course.

“They’ve all written their business plans, and tonight they are meeting with local CEOs to hear about how they started their businesses and what they do on a day-to-day basis,” Smith said. “They will get to ask the CEOs questions. In a couple of weeks they’re actually going to present their businesses to a panel of investors who are going to invest real money to help them start their businesses.”

Smith said that most of the students in the program are from Torrington Middle School and Torrington High School.

“There is a cost of $395 per student to join the class,” she said. “There is an interview process, and they have to fill out applications, write essays and come in for a personal interview. This is our second year for this project, but YEA! is all over the country.”

Smith said the Northwest Corner’s program is the only one in the state.

Young entrepreneur Phillip Koenig, 13, said that all of the students will receive a Doing Business As (DBA) certificate at the end of the class.

“Those will show that we are certified businesses in the state,” Phillip said. “My business is helping out the animals. I sell T-shirts to help offset the shipping costs of boxes I send out to shelters, kennels and pounds all over the United States. So far I’ve sent out 25 boxes.”

Phillip said that his business has been continuously growing since it started.

“Eleven of those boxes are in my house waiting to be shipped out right now,” he said. “The boxes contain blankets, sheets, towels, dog and cat treats, pet toys and more. Every once in awhile a shelter will send a letter thanking me and telling me the animals send howls and licks.”

Phillip said he started  his business when he was 10 years old.

“I had a birthday party with all adults and I told them I didn’t want any presents, only money,” Phillip said. “I raised $150 that day and gave that money to Little Guild of Saint Francis, my favorite place on Earth. I also give some of my boxes to them. I’ve done a lot of stuff there with my church as well. I go to Wamogo, and I’m starting to do small fundraisers there for my business.”

Philip said more information about his business can be found at www.helping-usa-animals.weebly.com.

Young entrepreneur Emily Jury, 11, is the owner of Jump for Joy Dog Treats.

“I bake and sell all natural, limited ingredient, American-made dog treats,” Emily said. “The ingredients are pumpkin puree, eggs, dry milk powder and flour. The pumpkin has many health benefits. My dog Joy has jumped up on the counter and eaten batches of them when they were raw. I sell them at local county fairs. A customer who had bought the treats came back and told me she had them in her purse on the table and her dog got her purse off the table, took the treats out and walked out of the room with them.”

Emily said she also donates 20 percent of her profits to various local pet shelters.

“I came up with this idea after noticing that on the big brand dog treat boxes there were always so many ingredients and half of them were byproducts and junk that I had no idea what it actually was,” she said. “I wanted to make my dog, Joy, better treats. I wanted something really healthy for her.”

For more information on the dog treats email jumpforjoydb@gmail.com.

The CEO guest speakers for the event were Barbara Douglass, president of NCCC; Susan Suhanovsky, president of Torrington Water Company; Gary Capitanio, vice president of Borghesi Building & Engineering Co. Inc.; Kristen Roberts, owner of The Roberts Tax Group; Robert Persechino, owner of Heart to Heart Home Care, Jimmy’s Store, North Elm Pizza and Green Woods Country Club Restaurant; Craig Snyder, president of Wesson Energy; and JoAnn Ryan, president and CEO of the Northwest Connecticut Chamber of Commerce.

Persechino advised the students that as a business owner, you are only as good as the people who you hire.

“You can’t do everything yourself,” Persechino said. “The most challenging thing is the competition level. There are a lot of businesses. If you open a lemonade stand, it’s not like you’re the only lemonade stand around. Go around town and there’s 20 of them. You have to find that little niche that makes you separate from the person next to you. It takes time and knowledge to do it, but once you find that niche you’ll be set for the rest of your life.”

When asked what they would change if they had a chance to go back in time, Roberts said she would have brought on a partner sooner.

“I’ve been doing my work by myself for a long time, which is great, but I never get a break,” Roberts said. “About two years ago I brought a partner on, and it’s been such an awesome thing. I wish I had done that sooner. I wish I had brought someone on earlier to share ideas and make changes.”

For more information on YEA!, go to www.yeausa.org.

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