Activity to Rocket -- Money Makers Workshop: Exploring Income Opportunities

 

Welcome to the Money Makers Workshop, where young entrepreneurs like yourselves will explore different ways to earn income and make informed decisions about your financial future. Get ready to roll up your sleeves and dive into this hands-on activity!

 

Step 1: Income Idea Brainstorm

Let’s start off by brainstorming ideas for earning income. Think about your skills, interests, and talents. What are you passionate about? What are you good at? Brainstorm a list of potential income-generating activities, such as tutoring, pet sitting, selling handmade crafts, or starting a small business.

 

(A list of possible ways to earn income as a child)

 

Step 2: Income Potential Evaluation

Once you have your list of income ideas, evaluate the income potential of each one. Consider factors like demand, competition, and potential earnings. Use a scale from 1 to 5 to rate each idea based on its income potential. Discuss your evaluations with your groupmates and share your insights.

 

(A scale of how these ideas provide certain factors like demand, competition and potential earnings)

 

​

Step 3: Income Shock Simulation

Prepare for the unexpected by simulating an income shock scenario. Imagine you lose your main source of income suddenly. How would you cope with this income shock? Let’s create a plan to prepare for unexpected income shocks. Think about emergency savings, alternate sources of income, and budgeting techniques to weather the storm.

 

​

 

Step 4: Income Plan Creation

Finally, create your own income plan based on what you've learned. Choose one or more income-generating activities from your brainstorming session and outline a plan to pursue them. Include details such as start-up costs, marketing strategies, and potential earnings. Present your income plans to the group and receive feedback from your peers.

 

​

 

​