Starting a business is no easy task, as St. John youth learned last week through the Young Entrepreneurz Solutions Business Plan Challenge. This is the first year the challenge, which is held in 25 US cities, London, St. Thomas, and the British Virgin Islands, have come to St. John. The winning teams from each regional competition, including the four St. John youth whose smoothie business won favor with local judges last week, will face off against one another in November on St. croix.
The YES Business Plan Challenge tasks sixth through 12th-graders with coming up with an idea for a new business. Each team of four decides who will fill the roles of CEO, CFO, and other leadership positions. They create a proposed business complete with a plan detailing the description of their venture; a marketing plan including their business’s goal, industry overview, target market, marketing strategies, and distribution channels; the business’s strengths, weaknesses, opportunities, and threats; technology plan; budget; and operation and organizational plans. On Friday, the classroom at the Julius E. Sprauve School where the challenge was hosted buzzed with nervous anticipation as students prepared to present their business plans to the judges, a collection of Love City business owners and community leaders.
“We’re trying to give them skills to help them win,” YES founder and executive director Ernest Ruffin, Jr., said of the Business Plan Challenge.
Ruffin’s competition was brought to St. John with the help of the Virgin Islands Police Department’s Sandra Colbourne, who previously hosted the YES Business Plan Challenge at her own summer program on St. Thomas. The St. John program was hosted this year by the Career Technical Education Summer Explorers Academy, led by Noelise Powell. Colbourne thanked Joycelyn Jacobs of the VI Domestic Violence and Sexual Assault Council, who encouraged her to bring the program to St. John, and the VI Tourism Department, which supported the St. John program.
“As a law enforcement officer looking at how we reduce crime, it’s done through education,” said Colbourne, who’s been with the VIPD for 36 years. “I see education as a key element. I know the capability of our youth. Let’s bring out their creativity and show that they can do what we know they can do.”
Business plans presented during Friday’s competition included a clothing company, a physical therapy business, a beauty boutique, and the first place finisher, Blend Bar smoothie business. Students who participated in the competition learned a number of lessons, including the challenges of working with technology and how to manage money.
“Overall, I learned more of the different steps to becoming a business owner and what it takes to actually own a business,” said Attori Charles.
“I learned that for certain jobs, you need a lot of materials, and you need a backup for everything just in case,” said O’Neya Thomas, a member of the winning Blend Bar team.
The judges offered advice to the participants on everything from working together as a team to speak in front of a crowd with confidence.
“You have to have confidence in yourselves,” said judge Pam Richards. “Look at us and make eye contact. It’s not easy. You have to know the product. Shout it to the rafters and let people know, ‘I’m proud of this company and it’s going to succeed. What questions do you have, because I have all the answers?’”
Judge Ian Samuel shared that he often focuses on one person in the audience and speaks solely to them when he’s presenting in front of a crowd.
“If you’re nervous, walk around,” said judge Dior Parsons. “Dress for the part because you are your brand. Dress how you want to be addressed.”
Blend Bar creators O’Neya Thomas, Mariah Belen, Ledisi Liburd, and Julia Franzua erupted into tears, shouts, applause, and hugs when their team was announced as the competition winner. The four will compete against winners from around the US on St. Croix on Nov. 2-5, when they’ll vie for the grand prize of $1,000 to be awarded to each winning team member.
