We congratulate Lily DeBell, 13, an eighth grader at Roland Park Elementary / Middle School in Baltimore City, who won the National Youth Entrepreneurship Challenge. She was named the national winner at an Oct 9 day-long event at the Computer History Museum in Mountain View, Calif.
“I am thrilled and honored to have won the National Youth Entrepreneurship Challenge,” she said in a press release.
The national challenge is sponsored by the Network for Teaching Entrepreneurship. Lily’s business plan topped 40 other finalists, most of whom are already in college or at least high school. Her company, Lily’s Legwarmers, makes clothing for dancers and has shipped between 50 and 75 units so far. It’s already turning a profit, so it must have been an effective business plan, not just a winning one.
“I’ve learned so much from my teachers, classmates, and fellow competitors,” Lily added. “I can’t wait to get back to work on getting my great product to great dancers around the country.”
And the publicity of winning a national award isn’t going to hurt that goal. Her award-winning business plan shows how making all-natural, hand-made, customizable dancewear for young dancers can become a profitable enterprise that serves its customers well.
Lily’s winnings include $5,000 cash, a $5,000 college scholarship, and business and technical products and services totaling about $25,000.
Since 1987, the Network for Teaching Entrepreneurship has taught and inspired thousands of young people to pursue educational opportunities and start successful businesses. By providing entrepreneurship education programs relevant to the real world, the organization empowers students to own their education.
Describe the formatting and presentation requirements of a business plan, and explain why sticking to them is a good idea. See Common Core English language arts writing standard WHST.11-12.1.D for more information.