EAST HANOVER, N.J.- Mr. Jamie Ott, Hanover Park International Business Practice Firm teacher, and his students attended the Virtual Enterprises International Youth Business Summit, in New York. It was the fourth trip Ott has made with his IBPF students where 40 countries were represented through entrepreneurial spirit and innovation.
For four years, Ott has inspired his students, with the opportunity to create. The IBPF classes are run like a virtual business. Once a concept for the business is decided upon, company roles are filled. Administration, marketing, finance, human resources, legal, sales and technology departments make up the team to effectively run the company. This year, Luxury Lifts and inSpyre were created by Ott's students.
Once the structure is in place, the business is ran virtually, charting profits and loses, managing employee performance and the hope to be accepted to participate in trade shows. The VEI event is attended by over 4000 students and features hundreds of student businesses.
Luxury Lifts offers the opportunity to drive exotic cars for events or for a specific period of time. inSPYre is a market place for the latest in survailence equipment. Both enterprises earned an opportunity to occupy a booth at the VEI Youth Business Summit in April. Along with displaying and selling their wares, the also competed for best booth and marketing competitions. "The kids really took ownership and always seem to take away so much from the event," Ott shared.
Mike Rella, inSPYre Public Relations Director, gave TAPinto an account of the trade show. In his words
Recently, inSPYre, an virtual enterprise started by the students of International Business Practice Firm period 1 at Hanover Park High School and supervised by teacher Jamie Ott, traveled to New York to display and sell its unique products at the NYC Trade Show Fair. As regarded by senior design team member John Garcia, “it was a riveting experience; one where we were able to socialize and connect with everyone along with expanding our company’s horizons”. As the members of inSPYre stood and observed the fair, they learned important skills for future trade show events. “Companies used food or vibrant colors to lure customers in. For future events, we should employ these strategies so we can reap even more success” noted senior sales team member Michael Boeckel. No matter how the competition looked, inSPYre did not back down selling many products in the trade show while more importantly getting its name out to the public. “ As a small company, we did not expect many sales, but getting our name out was important in expanding our company as many people will know who we are. We are a monopoly in a field not very large so it is important to get our name out there” regarded member Brandon Budoo. As a whole, inSPYre and its members have learned a lot from their successes at the trade show and are poised to make great leaps and bounds!
More student reflections from the event included the desire to go into advertising, how much it takes to be an entrepreneur, and the value of the information for later in life,