Year 1 Session 6 (5/8/21)
Hello Aim Families!
This week has been another one full of learning opportunities.
Some are seeing the rewards of several months hard work as they complete requirements to earn their badges. While others are finding the motivation and perseverance needed to finish strong.
In the Spark Studio, some additional works in Math and Language Arts were added and the young Eagles are diving in with enthusiasm. Some of these include hands-on work that supports the memorization of math facts, and learning the digraphs and blends for reading and spelling.
The Sparks are also beginning to lead their own discussions around excellence and expectations. In fact, one of the Sparks raised a question about the difficulty of a work so they discussed it, came up with possible solutions and voted on it. The guides were then informed about the change. True Leaders!
Within the Economics Quest, there have been many opportunities for Deep Learning:
- Several State "Natural Disasters" were triggered when an Eagle didn't have the funds to pay a fee due.
- And some explored how to support their fellow travelers within their state so it didn't happen again.
- Several sold items were bought or sold at the auction
- Many noticed the consequences of buying something for a high price and then selling it at a much lower price.
- We sold the real estate of desks and whiteboards this week. Some decided to not buy their own desk and keep renting. When their desk was bought by someone else, some of them had to pay more in rent than before.
- The real estate has since been changing hands at a fast pace! It has been interesting to see the real estate be valued as an asset for increasing wealth.
- One Eagle purchased 5 pieces of real estate and now collects rent.
- Many got a real taste of whether it is better to rent or to buy real estate.
- They worked through misunderstandings around products ordered and where to store it and indicate it is yours.
- They saw the power of compounding interest within their savings accounts.
- Experience was gained in managing time - deciding between earning money, spending money, working on your business or completing other Quest challenges.
- Learning that one of the consequences of waiting too long to get your business going or adding money to savings can be lost revenue or potential
- Several creative ideas have been implemented to increase sales such as offering free samples, gifting a handmade bracelet with purchase, and having fellow Eagles leave a review of their business.
- A couple Eagles have already reached $1,000 in savings!
- Owning a business is definitely its own Hero's Journey (whether here in-studio or within the real world).
- One Eagle decided to sell cookies but was worried that nobody would buy them even if they were only $2. This Eagle first considered doing a "Buy 2 get 1 free" deal. After calculating costs, the Eagle decided to sell them at $3 to be able to make a profit, but was still very hesitant to tell others the price. After selling most of them, the price was raised to $4 per cookie. When asked why the price went up, the confident reply was "because supply is low and demand is high!"
FYI - The Exhibition for this Quest will be at the Children's Entrepreneur Market in South Jordan on May 29th.
An email was sent to all Eagles with the link to register for a booth. Part of their badge requirements is to create their own business and sell a product to someone they don't know.
A couple things to keep in mind with the booth and exhibition (And just to be clear, these are recommendations, not requirements):
- Eagles pay for the registration (either from $$ they already have or as a loan from someone and they repay it at the end)
- Eagles do as much of the work as possible (figuring out costs, setting the price, making the signs, etc)
- Eagles pay for ingredients and other costs (again from their own $$ or on loan from someone)
- If your Eagle needs a table or canopy or other items for their booth, consider "renting" them the items if you own them.
- Eagles run their booth the day of the market
This Quest has been powerful in many ways. May the learning continue!
Kind Regards,
Guides at Aim Academy
