Every summer the teens who join us at Camp Start-Up leave with new skills, new energy, and new ideas about how to take on the world. Sometimes it takes a couple of years for campers to begin realizing their entrepreneurial potential. But, other times, we get to hear from a campers who began implementing their entrepreneurial dreams as soon as they got home.

Emily Nordquist was one of those. Just months after the CSU 2011 alumnae got home, she began emailing us about her plans to launch TheTopGeneration.com, a blog by and for teenage trendsetters (and, as she wisely noted, a market research vehicle). But, just a week before the site was supposed to go live, the rug came out from under her as key partners dropped the project.

Emily wouldn’t be deterred. She reconfigured her plans and her vision and we’re proud to say Top Generation is now live. Below, Emily shares her story, and what she learned about the necessity of shifting on the fly when you’re an entrepreneur:

I have always been driven to start my own projects and make my visions come true. For me, Top Generation represents the way I approach life as young and determined individual.

The goal was easy: to promote and celebrate youth culture and provide a place for teenagers to laugh or think deeply and for adults to understand and appreciate reading about the younger generation. What made the blog different from the many other music, fashion, culture, and photography blogs, was that it combined all of these things together. What set the blog aside from other teen marketing research devices was the fact that the information was coming directly from unique, informed, and knowledgeable teen trendsetters. The cost was low, the design was simple, and the project had no major risks.So, I went ahead and assembled my team, wrote a business plan, and eventually worked on marketing and publicity tactics.

To my surprise, one week before the blog was supposed to go live, two of my senior writers as well as my web designer decided to drop the project. It appeared as though all the hard work had led up to failure. Six months of planning and strategizing, and one week for it all to fall apart. I had various conversations with other bloggers about how much individual work had to be put in to establish a successful blog, and how sometimes, you can only rely on yourself. A bit frustrated and disappointed, I found myself left with access to a blog engine and a domain name. So, just as any teenager with emotions to share, I began posting on my blog.

Although Top Generation does not contain the same content and design as I intended it to, I believe it still serves its original purpose of celebrating youth culture. The posts discuss, on a more personal level, issues and feelings regarding teenage life. I plan to feature other young writers interested in sharing their work and ideas, and let the blog serve as an outlet for other young and expressive people.

Throughout this process I have learned that business is always changing and that plans need to constantly be adjusted. Honestly, I have learned the challenges that come with teen market research, in terms of large scale trend shifts and finding balance through modification and alteration.

If the opportunity presents itself in the future, I plan to revisit the original business plan and bring life to the initial design of Top Generation. Yet, for now, I am proud to share a blog that hopefully sparks discussion within and between generations, provides a place for casual reading, and most importantly exposes the talent and power of young people.

Emily Nordquist
www.thetopgeneration.com

Every week (or so) we like to share the best articles and videos about financial education, stewardship, wealth, and next generation leadership. This week:

• Pamela Paul of The New York Times introduced us to Danah Boyd the “rock star emissary from the online and offline world of teenagers.”
• The New America Foundation offered a global perspective on financial education following two summits.
• The 2008 recession has left teenagers with an incomplete understanding of how the economy works and parents need to teach kids how to borrow safely, Fox Business reported.
• “Average is over,” Thomas Friedman from The New York Times opined, adding that if America is going to compete, it’s going to have to better educate.
• It’s over a month old now, but Robert Frank reported why the wealthiest families in America have trouble staying at the top in the Wall Street Journal.

Today’s teens are going to need to solve big problems. That’s what entrepreneurship is all about and that’s why I’m so proud to teach it at Camp Start-Up.

I write from experience. Back in 2002, my community in upstate New York lost its only department store. This meant driving 50 miles to get even a pair of socks. So, I got together with a cohort of volunteers to bring a store back to us, one that we would own as a community. It was a big challenge, but early this winter, we did it. Working with hundreds of local investors, we opened the first community-owned store in the state. The New York Times even put us on the front page of the Business Section.

At Camp Start-Up, all of our staff and each of our mentor brings stories like these. We have hands-on, practical experience in the world of business and finance and we’re excited about sharing this with teens. You can register or find out more on our website or follow us on Facebook and Twitter.

Every week we like to share the best articles and videos about financial education, stewardship, wealth, and next generation leadership. This week, we liked:

• The impact of donations via text is fleeting, the New York Times reported in a look at a study of those who donated to the 2009 earthquake in Haiti.
• Generation Y investors say they’re not comfortable investing in stocks. Here’s why young savers are so afraid of the market.
• A policy paper from the McGraw Hill Research Foundation found the relationship between financial literacy and the ability to make and stick with sound financial decisions is complex.
• The New America Foundation shared seven highlights from the recent Citi FT Financial Education Summit.
• Watch out or the boomerang generation will hit your wallet, the Wall Street Journal warned.

Occasionally, we like to share the best articles and videos about financial education, stewardship, wealth, and next generation leadership. This week, we liked:

• Seth Schiesel at the New York Times looked at how games have become a new way to connect with loved ones.
• In his always insightful blog, Carl Richards illustrated the Paradox of Choice through skiing.
• A financial adviser shared the six pieces of advice she gives clients who are stressed about their child’s college major.
• The New America Foundation discussed the importance of nudging in changing financial behavior.
• Author and journalist Frank Rose examined three qualities that led to Steve Jobs’ success.
• The Center on Philanthropy at Indiana University released a truly fascinating study on high net worth women and philanthropy.

Occasionally, we like to share the best articles and videos on the web about financial education, stewardship, wealth, and next generation leadership. This week, we liked:

• Author Lewis Schiff discussed innovation and wealth creation in this video from 2008.
• Bruce Bartlett looked at the challenge of defining who’s rich.
• Veronica Dagher at the Wall Street Journal examined the rise of financial therapy.
• Stephanie Brun de Pontet from the Family Business Consulting Group began to reconcile two prevailing and opposing views on family businesses.
• The Consumer Financial Protection Bureau released a clearer (and more beautiful) model credit card agreement.
• …at the same time The Financial Security Project pointed us to a fascinating study on the puzzling effect of credit card minimum payments on consumer behavior.

We’ve just set our plans for Camp Start-Up 2012 and I’m excited to share the news that we’ll be offering two sessions next year:

• Session One: June 24–30, 2012, at Paul Smiths College, Saranac Lake, NY
  Nestled in the heart of the beautiful high peaks region of the Adirondack Mountains, this is the perfect setting for our seven-day session of Camp Start-Up that will focus on developing and applying entrepreneurial skills to create local, sustainable business models.
• Session Two: July 27 – August 5, 2012 at Wilbraham & Monson Academy, Wilbraham, MA.
  In addition to exercising their entrepreneurial muscles, campers attending our 10-day session will have the chance to experience the excitement of trading stocks in real time in the Academy’s start-of-the-art Trading Center.

Open to teens between the ages of 14 and 18, Camp Start-Up is our summertime entrepreneurial experience. We emphasize doing over dry classroom presentations, with workshops led by leading-edge entrepreneurs and graduates from top business schools and behind-the-scenes field trips to innovative companies. For additional information, please visit our website. You can also follow us on Facebook and Twitter.

Though most of our work these days is with private families, every now and then we are invited to participate in an open program. Our latest is Clifford Swan Investment Counsel’s Young Stewards Program—an introduction to managing one’s financial and human capital for teens and their parents.

The program is set for Sunday, September 11, at the Huntington Library in San Marino, CA. Take a look at the invitation and if you are interested, give us a call!

Another season of Camp Start-Up came to a close in the midst of the wildest market volatility since 2008. What a teachable moment that was!

No doubt your financial advisers were sending updates as stocks mimicked those bouncing balls in old fashioned sing-a-longs on TV (OK, I’m dating myself). So, imagine the financial calisthenics our Camp Start-Up counselors went through as they tried to explain what was happening in the midst of what had started out as a straight forward session on investing.

Whether you have a teen who was with us this summer or not, the gyrations of the market offer a ripe moment not to be missed. Here are some messages shared with Camp Start-Up teens and their families that are relevant to all:

• Financial education is economic self defense—and a lifelong process, not an event. The more you know, the less you’ll panic when economic trends seem indecipherable.  One 16-year-old told me a few years ago that she was “too young to think about financial things” (though presumably her spending habits did not apply). In fact, there is no such thing as too young when it comes to financial education. While preaching the time/value of money to 6-year-olds is excessive, like learning any new language or skill, early is easier. Inculcating financial values, vocabulary, and expectations in the youngest of children pays off in young people who mature as thoughtful stewards and responsible managers of family assets—human and financial.

• Nurturing entrepreneurial spirits early helps develop enterprising adults. Unemployment rates are not going to ease up any time soon.  Last year a camper so liked her business plan that she decided to create her own internship to explore the concept further.  Lilli’s vision was to develop a “vegan shoe company.”  She created an internship proposal, searched online for companies that might be a good match for her idea and sent her proposal out. She landed a plum internship this summer that added to the experience she started at Camp. Take the next gen seriously. Offer seed funding as an alternative to a summer job if they produce a sensible business plan. Unemployment among teens is so high that making a job, rather than taking a job, may be the best way for kids to acquire work ethic and gain experience in a passion of their choosing.

• While they are well ahead of us in the Facebook, Twitter, and social media dimensions of life, that does not always translate to great relationship skills. Invite their friends to special events or holiday celebrations. After the 2008 meltdown, one camper used the social network of her Camp experience in her search for her next career move. In spite of a new MBA from a top business school, she needed the most extensive network she could assemble to land  her current position in a top NY-based foundation.

• Share business news. After the 2008 meltdown kids who had never given the stock market a thought were suddenly asking “are we poor?” Talk with them about how you handle market instability. A weekend subscription to the WSJ may go unread, but won’t go unnoticed. That’s a start.

What a time to teach market principles. It may be an optimal time to introduce the wisdom of buying when stocks are down. Time is on their side and a little experimentation now will go a long way. Helping kids learn to take risks is another way to use this teachable moment.

We hope this summer’s experience was a good one and that you will see growth continue over the coming year. If there is any way we can support your efforts or if you have questions, please feel free to give a call.

Looking for more notes from Joline? Check out her blog.

Camp Start-Up 2011 has officially wrapped up, but we wanted to share another video introducing another staffer: Camp Start-Up counselor Amanda.

Amanda didn’t know what she’d find when she signed up for her first year as a Camp Start Up counselor. But she said she found an exceptionally bright group campers from all corners of the country who were excited to accept the challenges of producing a thorough mock portfolio and business plan presentation with a very limited amount of time. Here she shares her excitement and admiration of the campers’ creativity and dedication.