Friday, February 10, 2012

Terry enterprise team teaches money matters

By on April 23, 2009

Imagine 13-year-olds running Wall Street.

The University’s “Stock Dawgs” program taught Hillsman Middle School students the ins and outs of investing in just four weeks this semester. Organized by members of the University’s Students In Free Enterprise team, the program used games to help middle schoolers gain interest in the stock market.

“It’s not so much just teaching them the fundamentals of the stock market, but really planting that seed,” said Reece Layman, a junior from Ellijay and the team’s treasurer. “We like going out in the community and showing [disadvantaged] kids, you are just as smart as everyone else.”

“Stock Dawgs” is just one of SIFE’s many projects that aim to provide financial services and information to the Athens community.

“We volunteer around our community and try to better it through the teaching of aspects of business,” said Adam Ames, a senior from Dunwoody and the team’s president.

Unlike other service organizations, SIFE focuses more on education. Layman compared the group’s philosophy to the idea that if you give a man a fish, you feed him for one day – but if you teach him to fish, he will always be able to eat.

Rather than simply providing food or money to those in need, SIFE works with a wide range of people to teach market success skills, entrepreneurship, financial literacy, business ethics and environmental sustainability.

One program, “Junior CEOs,” was co-sponsored with the Boys and Girls Club of Athens. The program taught children basic business skills over the course of several weeks.

“What is a profit, what is a loss, how do you make money?” Ames sought as examples. “We taught them the principles of business.”

Another program was “Buffet Budgeters,” named after Warren Buffet.

“We went to a local Goodwill and helped [customers] understand budgeting,” Layman said.

SIFE’s “Visiting Entrepreneur Series” brought local entrepreneurs from Terrapin Beer Co., Jittery Joe’s Coffee and EvoShield to speak at blue card events for University students and faculty. The entrepreneurs discussed the skills needed to start a business and offered advice on what it takes to be successful. The series also provided an opportunity for University students to network and learn about internship opportunities.

In addition to planning service projects, SIFE has been busy rebuilding its team this year.

Last year, the SIFE team had only six members, many of whom graduated in spring 2008. This year, the team has grown and will compete in the SIFE United States National Competition, held on May 10 in Philadelphia. Next year, the team hopes to advance to a global competition – the SIFE World Cup.

“All year working with SIFE, you work toward competition . so at the end of the year, we have something to present,” Ames said. “It is based on a showcase of what we’ve done throughout the year … [The judges] decide if our improvement in our community was greater than other SIFE teams.”

The team will turn in a four-page report and will give a 24-minute presentation for the judges.

“We’re preparing a presentation for nationals,” Layman said. “Basically we’re just revamping our regular one and fixing a few problems that we had.”

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