Entrepreneur Article Post

By reading the articles about the young people who started their own businesses or invented something on their own I learned that young people are very capable of starting a new business and also that while living with their parents they really have nothing to lose by do so. Two different teens started their own small businesses that helped them make a very good amount of money. I found that starting these small businesses as a teen is a very good idea. The teen who started the heart exam for a cell phone had literally nothing to lose and a lot to gain. This child invented something that will most likely benefit her in the long run. In conclusion being a young entrepreneur is a very good idea and has a small chance of actually hurting you financially.

Entrepreneur

In my opinion, the best way for a young adult to understand how a business can be important is for him or her to start their own business. Starting their own business can help them become more responsible and also more understanding of finances. Starting a business that is small and practical would be the best way to go so that you can be your own boss and still be alright financially. Starting a large business at a young age will usually cause a inexpierienced entrepreneur to be either bankrupt or in very large debt in only a few years. Doing this can help someone out in many ways though, making money, learning responsibility, and being honest when it comes to customers. Many young people may have the problem of starting too large but they will soon learn and down grade which will help them out immensely. In conclusion, the best way for a teen to get out and see the world and how it works is to start a business in my opinion.

Credit Card Video Summary

I think that there was three very interesting things about the credit card video. The first is that most students will spend all of there money during college and not actually try to save for after college. The second one is that most students are offered many different kinds of credit cards and will aften take them which can cause them to go into big debt and also have a very bad affect on their credit score. The final fact that I found interesting is that during college more students drop out because of financial problems than do because of grades.

Journal Week One

For the first week of investopedia I decided to buy the stock Anheiser Busch. Anheiser Busch has a been continually been making a profit for the last five years and according to the estimated end of year stock cost it will be up even more. Judging by the statistics that I researched about Anheiser Busch I figured that it would be a very good stock to buy. I bought 200 shares at $97.75 a share.

Lemonade Stand Blog

After playing the lemonade stand game i ended up making a larger profit of $100 which was the goal. My net profit was decent and my production cost per cup of lemonade was 14 cents per cup. At 14 cents per cup i could make anywhere from 2 to 22 cents per cup depending upon the weather. Buying an excess of perishable goods would aften hurt the ammount of money you made. The ice would often melt, the lemons would aften spoil, and the sugar would get bugs in it. So buying the right ammount helped you save money because nothing was wasted. For example, if you bought 500 ice cubes and used 250 you would waste half of them because the rest would melt. Because of this i tried to buy the correct ammount each time, i bought 100 cups, 50 lemons, 56 sugars, and 1000 ice cubes. i normally did not see anything perish so i figured i had figured out the best amount of goods to help keep me from loosing money. the weather was a very large variable also in this game. the temperature was very big and also the type of day, the day was either clear, sunny, rainy, overcast, or hazy. having so many different variables of weather made it so that you had to know exactly how many goods to buy and also how much each cup should cost. the last determining factor of how i was able to make over $100 was that by the end of the game i had a very good popularity. at the begining of the game my popularity was low but by the end i was near a 100% popularity making it so that i sold lemonade easier and made a better profit. by having a higher profit the willingness of people to buy my lemonade went up.

Business Idea Blog

One business idea that I have been thinking of is a sporting goods store. Owning a sporting goods store in Wyoming where there are a lot of outdoors kind of people I believe I could attract a lot of different customers if I sold the correct things. I am interested in owning a sporting goods store because I hunt, camp, fish and do many outdoors activities and I know how nice it would be to have a store in your home town that you could buy all of your outdoor needs at and not have to go somewhere else when you are getting ready to go to the outdoors. I think with the right inverntory I could earn a good income because many people in Wyoming are outdoors people and if you sell the correct thing these people will normally buy them. My dad and one of my dad's friends could both be helpful in starting this business because they both do a lot of hunting and other outdoor activities and they would know the correct thing for me to have in my store in order for me to make a profit and be a succesful business.

Candy Stock Blog

Yesterday I came to class and we were not allowed inside until Mr. Kapptie opened the door and said head in. I really didn't know what was going on but I was told that we were supposed to collect as much money and candy as possible. I ran in and gathered all the money and candy that I could and I put it in a pile on my desk still not knowing exactly what was going on. Mr. Kapptie went to the board and wrote each piece of candy on the board and wrote down what each one of them was worth. At this point I had began to find out that we were supposed to be buying and selling candy in the form of stocks. Every couple of minutes Mr. Kapptie would change the value of each piece of candy just as stocks did, the value went up and down. During this time we had two candy companies merge as one candy company, we had one candy company do a 2 for 1 split meaning that for every one piece of candy you had it was worth 2 times the stock value, and we also had one candy company file for bancrupcy causing the price of it's stock or candy to go down by a lot and be worth almost nothing. As the time went on some people were buying the candy that was worth the most money and others were trying to sell all of their candy for a good price so that they had a lot of money. This activity was just like the stock market in the way that each piece of candy was considered a stock and at any given time the worth of that stock could go up or down. By the end of class we had all down some trading trying to earn better stocks and more money. This activity taught me a lot about how the stock market works and how you need to be careful with what stocks you buy and sell because some can earn you a lot of money and some can lose you a lot of money.