Seek experts to mentor your child learn from the experiences and mistakes of others…
People who know their craft and have established their own business are invaluable resources. In the popular TV show the apprentice, American billionaire Donald Trump is view as the ultimate mentor and guru of aspiring businessmen.
One of the biggest challenges that parents face is not knowing how to help their child. This is where mentors come in.
Let me tell you about three of our youth entrepreneurs in MI high school and the lesson they have learned from mentors.
Filipino and Japanese rolled into one
Love for Japanese food and patriotism inspired this group of teens to come up with fusion cuisine on the run, classmate and teachers served as their test market. Proud of their fusion concept, they sought the mentorship of Ricky Laudico of Mr. Kurosawa. They had very good concepts, but did not have a strong culinary background and missed out on the most important aspect of a great maki rice.
Lesson from the mentor: never stop improving the quality of your product. This will help keep your customers loyal
Laila: life in Literature and Art
Raw talent was the capital for this business venture. Behind it is a group of naturally talented teens, whose love for manga and drawing inspired them to publish their own graphic novel. They loved what they did but did not know how to publish or to make money out of this hobby. Enter Budgett Tan, founder of Alamat and a creator of comic books. He pointed them in the right direction, which was knowing their market. Budget told them that their product had a niche market, and unless they knew the market well, they will not have readership.
Lesson from the mentor:
Know your customers; they are the lifeblood of your business.
Pulse Radio: Teen Radio
Armed with love for music and solid ideas for programming, a group of teenagers wanted to start a teen radio station. But the teeners had questions and the answer could not be found in books: what did it rally take to put together radio program? How do you get funding? Where do you get sponsors? Michael Halili, executive producer of NU 107, generously invited them to observe a radio program at work, guided them on the feasibility of their ideas and finally helped them set realistic goals.
Lesson from the mentor:
Set realistic goals, but don’t let go of your dream.
Lesson from brother
Ben Chan: Chairman, Suyen Corporation *Beach
“Brother Carlos was instrumental in our venture into china. I consider him a visionary for having been able to successfully establish his business there. He started out early and was a head of everybody else when no one would take risks in a country that years later would become a major economic superpower. Today, his brand Oishi is an Established leader in snack foods, with a distribution and supply chain that covers the entire country.”
Carlos was able to help me nurture my business instincts through his leadership and foresight. He led by example and made me realize the vast opportunities that lay a head. He made it easier for me to identify potential growth areas for Beach.