Forbix Paves the Way for Young Entrepreneurs in the Local Community
LOS ANGELES, Feb. 13, 2019 /PRNewswire/ -- Forbix is a company built by entrepreneurs. The California based real estate advisory firm that prides itself on its innovative lending style and desire to partner with its clients for the long term is used to taking the unconventional route. It was no surprise that when they wanted to give back to their community, young entrepreneurs were at the top of their list. CEO Emil Khodorkovsky knew he wanted to reach young adults that had great business ideas but not a lot of opportunity to share them. After some discussion, it was decided that Forbix would like to reach young entrepreneurs between the ages of 14-17. That special age where teenagers are full of creative ideas but not quite old enough to enter the workforce.
The idea was simple. What motivates adults and young adults? Money. Forbix wanted a vehicle that would allow young adults to showcase their entrepreneurial ideas and be rewarded like true entrepreneurs. Forbix decided to pledge to invest up to $5,000 in the winners' business ideas. Any profits made from the venture would be split 50/50 between the young entrepreneurs and Forbix. The young entrepreneurs would keep their money and Forbix would roll their profits back into the program. The vision was that the students would succeed and that this program would become a self-perpetual mechanism where young people's amazing ideas would continue to regenerate and grow the program organically.
They'd settled on the demographic, focused in on age group and a program strategy, but how would they be able to connect with the students? Forbix decided to start with an organization that's been helping children for over a hundred years—the local Boys and Girls Club. Forbix approached the Boys and Girls Club of the West Valley and told them about their strong desire to start a program that fostered the development of young entrepreneurs. Luckily, the Boys and Girls Club had just the right partner in mind--the Network For Teaching Entrepreneurship or NFTE.
NFTE is in the business of teaching and training young students the tenets of innovation and self-reliance through entrepreneurship. Forbix's investment helped bring NFTE's training program to the Boys and Girls Club of the West Valley. Over a period of several months, a group of fifteen students learned all about the entrepreneurial mindset and how to develop their ideas. The program culminated with the creation and presentation of a business plan that would be evaluated by a panel of judges from Forbix.
Some of the Forbix staff helped the students polish their presentations the day before the big pitch. The students worked on the formal presentation of their business plans as well as their "elevator pitch." When the day of the contest arrived, the young adults from the Boys and Girls Club were ready. A panel of five Forbix staff members sat in wonder as these young entrepreneurs articulated their business ideas like seasoned pros. In the end, three cash prizes were awarded to the best presentations.
What started with Forbix's desire to give back to their community, developed into a successful program for young entrepreneurs. Forbix has found a long-term partner in The Boys and Girls Club and NFTE. Together, they've developed a program that will be built and grown by the energy and ideas of the next generation of entrepreneurs.
Press Contact: Anna Grigoryeva
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Forbix.com
SOURCE Forbix
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