Marisol Robinson - Business and Finance Lab

Hi! My name is Marisol Robinson and I have the opportunity to discuss my experience at the Center for Advanced Research and Technology (CART). I am a senior and along with attending CART I also attend Fresno High School in the afternoon. Fortunately, I was able to attend CART both my junior and senior years of high school. During my junior year, I took the Law, Order, and Policy lab, and I am currently taking the Business and Finance lab. 

This week, we have launched project 4, which is creating our own side hustle. After determining my group and the product we plan to sell, we had to give a 5-minute pitch. We needed to incorporate what we were selling, what resources we have for this side hustle, who we are working with, and the roles of each of our team members (manager, chief, financial advisor, and marketing). Thankfully, we got approved for this business, and now we are in the process of creating our partnership agreement. This agreement must be structured by determining how we will share profits, how we will divide the work, including a non-compete clause, dispute settlement, the duration of the agreement, buyout, and signatures/dates. We also learned about the different common business structures. A sole proprietorship is easy to form, gives you full control over your business, and can be a good choice for low-risk businesses and owners who want to test their business idea before producing a formal business. A partnership is the simplest structure for two or more people to own a business together, and is a good choice for businesses with multiple owners, professional groups, and groups who want to test their business as well. We also learned about a limited liability corporation, which has benefits for both a corporation and a partnership business structure. It protects you from personal liability in most instances, and they’re considered self-employed so they pay money towards Medicare and social security. 

Although the work we do can take a bit of time, it is all realistic and beneficial. I have gained new skills and knowledge, including how to use and make a budget on excel, how the stock market works, how to fill out a tax return, and how to start a side hustle business. These skills are needed for life after high school, and getting a head start on understanding how it works can put you in a better position compared to those who learn these skills later in life. We have also had many mentors come in from all over Fresno and give us advice on how to gain wealth through businesses. If you are interested in getting a head start on life, Business and Finance is the right place for you!