MESSAGE FROM THE BOARD OF DIRECTORS: A few months ago we spoke of a goal of the Southern Midocast Maine Chamber: to be more involved with the educational community. We suggested business owners and their employees take on teaching a Junior Achievement class and that’s just what we did. Halfway through the curriculum “Our Region,” we thought we’d ask you: Are you smarter than a third grader?

The students started out their sessions learning about who an entrepreneur is, what the difference is between an inventor and an innovator, and what a region is. An entrepreneur is a person who uses resources to start a business. We guessed who these entrepreneurs were (some weren’t guesses):

Do you know who Tony Hawk is? How about Walt Disney? Or Maria de Lourdes Sobrino? Or Lonnie Johnson? Which ones do you think the third graders knew?

After the class discussed these entrepreneurs they identified their business success traits. Do entrepreneurs need positive behavior traits to be successful in business? Do you have any of these: loyal, skillful, energetic and responsible?

Next we took at look at the map of the United States and all different kinds of resources. What are capital resources, human resources, and natural resources that the state of Maine has that can be used by an entrepreneur? Did you know that gravel is a natural resource of Maine? (It’s not just trees and lobster!) The students also learned these terms: goods and services. Can you give examples of the other resources? The students did!

Last week the students broke into groups and played the “Hot Dog Stand” game and learned about revenues and expenses, advertising, profit and loss, and making difficult decisions. They also learned about six tasks entrepreneurs need to accomplish. 1. Pay for resources you need for your business. 2. Get the word out about your product or service. 3. Set your price and sell your product. 4. Treat your customers well. 5. Make tough business decisions. And 6. Track your expenses and revenues.

Here’s what they learned: the importance of keeping an accurate account of a business’ financial information. It wasn’t a snap to learn the concept of revenues minus expenses and what happens if your hot dog stand has more in expenses than sales. Good people skills are necessary to get and keep customers, and to get and keep good employees.

They learned to define these terms: expenses, advertising, revenue, profit, loss.

Stay tuned for the information on the finale of this JA class and also for a new program that our Midcoast Educational Outreach Program is getting ready to produce this fall.

UPCOMING EVENTS:

— It’s the 50th anniversary year for Frosty’s Donuts and the public is invited to an open house on June 5, 3:30-5:30 p.m. at 119 Orion St., Brunswick Landing, Brunswick. Please R.S.V.P. to frostysdonuts@gmail.com.

— The public is invited to an open house to celebrate the newly completed Mid Coast Medical Group’s Bath Internal Medicine practice. The event is 5:30 p.m., Tuesday, June 9 at 108 Centre St., Bath.

— Learn a “5-Step System to Strategic Decision Making” at the next Small Business Success Seminar. The seminar is June 10, noon to 1 p.m. at the Topsham Public Library (25 Foreside Road). It is led by Angela Chute, of Authentic Compass, and there is no fee. Learn new techniques to take back to your business the very same day.

— Hear a recap of the most recent state legislative session from Dana Connors, president of the Maine State Chamber, and Peter Gore, VP of Government Relations at the Maine State Chamber. The Chamber Regional Luncheon is Wednesday, June 17, 11:15 a.m. to 1 p.m. at the Brunswick Hotel & Tavern (4 Noble St., Brunswick).

Please pre-register for all events at www.midcoastmaine.com.

OUR MEMBERS: We welcome the law office of Bradford Pattershall to our membership. This litigation firm concentrates in commercial disputes, personal injury and criminal defense.

SMMC proudly serves 700 businesses and organizations in the following communities: Arrowsic, Bath, Bowdoin, Bowdoinham, Brunswick, Dresden, Edgecomb, Georgetown, Harpswell, Phippsburg, Richmond, Topsham, West Bath, Westport Island, Wiscasset and Woolwich. Find them all on our website at wwwmidcoastmaine.com.