Entrepreneurship in Action

Earlier this month, PVS Micro Village citizens, in grades 2 & 3, had the opportunity to bid for ownership of one of the 10 ventures within our society. Just as in the real world, bidders were required to complete an application package that included a business plan, budget and either proof of cash for purchase or a loan approval from Micro Village Bank. Each venture was assigned a minimum bid value, based on their profitability, and prospective buyers were expected to include a 10% deposit with their application. Finally, all bids were sealed and had a “not before and not after” submission date and time. This was to ensure all students had an equal opportunity to enter a potentially successful bid.

I am sure, that by this time readers may be thinking, “Oh my gosh, what a lot of work for the little ones”, or “Isn’t that so cute?”. Well, at first glance it is both. However, this is serious business for our students. As such, we needed to treat the process with the respect it deserves. The applicants were asked to go through a process that engaged them in reflecting on the business at hand, research the profitability of their business plan, be financially accountable, and in some cases, examine partnership viability. While 19 applications were picked up, only 10 were actually submitted. This is a testament to the work involved and the commitment of those students that chose to make a bid. In fact, two partnerships were unsuccessful in their first bid. One decided to complete the process to purchase an available venture (which, initially, did not receive any bids) and the second chose to move on. A case of clearly supporting MicroSociety’s mandate of giving students choice and managing the outcomes of their decisions.

As I visited the classrooms, talking to the students about the process, I was amazed by their insightful questions and felt privileged to be part of the discussions about the pros and cons of owning a venture. In one case, I was asked if partnerships were allowed. “Why, yes”, I said, as if it was the most natural thing, but in reality this was the first time I had considered partnerships. In my adult world, I only envisioned lone applicants. It took a student to think outside of “my box” and propose a new and viable idea; such is the beauty of MicroSociety and in our following the students’ lead. As a result, many of the ventures are now owned by partnerships.

I am hopeful that readers can now look at this process through the lens of the learners. When we look at the Cross-Curricular Competencies and 21st C Skills Wheel, it is clear this process has touched on many. While, it is only a handful of the students in the school that, by necessity, have this particular opportunity or have chosen to take advantage of this opportunity, it is the start of what we hope will become a lead-in to students proposing ventures, creating more student partnerships, and increasing their personal ownership of Micro Village. As this is only one area of leadership possibilities, it reminds us of the potential of Micro Village is limited only by the students’ imagination and will combined with our adult willingness to follow and support their lead.

On behalf of the PVS Micro Village community, I would like to send out a hearty congratulations to our inaugural venture owners and wish them the best of luck next year, as new venture owners!

Bugs & Berries Gift Shoppe……………………Emma (gr. 3)

Furever Pawrtners……………………………….Celeste & Hailey (gr. 3)

Italian Bistro……………………………………….Lailee (gr. 2/3)

Micro Media………………………………………..Parker & Easton (2S)

Picture It Salon……………………………………Brooklyn (gr. 2L) & Ellis                                                                             (gr. 2S)

ProLife Sports……………………………………..Dawson (gr. 2/3)

Sweet Treats Bakery……………………………..Ava, Alexandra & Lily                                                                                  (gr. 2/3)

Tech Check…………………………………………..Sam (gr. 3)

We hope you will continue to follow our story to see how the new year plays out. You can be guaranteed it will be exciting!

 

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