We find this a very common way to deliver the program, by working with existing plans for the year. Looking at the feedback from previous years, one of the greatest strengths of the program was that it is incredibly flexible and adaptable to work with other lessons and subjects. Go for it! Keep us in the loop – we are always looking to collaborate!
Of course. The reason we encourage delivery in term 1, 2 or 3 is because the students will have enough time to run their businesses and apply for the awards that happen later in the year.
Of course! The more the merrier. We are seeing an increase year on year on community groups, alternative education and local organisations utilising the program with the young people they work with.
We do find this is the part of the process that schools struggle with the most as this is unheard of! We are one of the few programs that provide young people real money. During registration we request your schools bank details and then direct transfer the startup capital funds, your school then takes out the money and provides the cold hard cash to each student. If this process doesn’t work – we are able to explore other ways such as an invoice or potentially you can self-fund.
Each student will receive the $20 start-up capital, and then will pay that $20 back + $1 legacy fee, so there should be no financial input from the school (unless they are self-funding). We recognise not all students will be able to repay this money due to an unprofitable business venture. If so we are happy to discuss repayments on a school-by-school basis.
Great! You will still get access to all the great things the program has to offer. It still means you’ll be registered – access all full materials and be part of the community. If you need some help in working out how to self-fund, contact the team and we can help troubleshoot and share what other schools have done. It’s super easy.
To support the ongoing growth of the program, the expectation is that students pay back their $20 plus a $1 ‘legacy donation’ at the end of the challenge to keep the program sustainable and maintain a ‘bank’ to support future students.
This can also help students understand the concept of interest when taking out a loan.
After paying back their $1 legacy fee, we encourage students to donate any other profit made to a community organisation or charity of their choice, or they can reinvest the funds back into the business, or divest and split among the group.
The redesigned $20 Boss toolkit is prototype, which means that it is a work in progress. We are seeking teacher feedback on it across 2019 so we can responsively improve it for its official launch in 2020. We have chosen to hold off on creating a suite of student-focussed online resources so that we can be more agile in updating the toolkit as teacher feedback is received. We are intending to develop online resources to complement the finalised toolkit.
Ahead of choosing to fly solo, it is valuable for students and teachers to consider whether the identified business goals can be achieved with only $20 and without the ability to share the key tasks with others. It is also important to consider the opportunity to develop key enterprise skills such as teamwork, communication, collaborative problem-solving and project management through working as a team.
With the rise of internet platforms for small businesses to sell their wares, we’ve seen an increase of students continuing their businesses past the formal closure of the program; it’s completely up to the students.
Once you have registered for the program you will be invited to join our Facebook group where you will be able to share program experiences with other teachers delivering the program.