Krissa was in Omaha pitching her venture, Cupcakes for Literacy, to the billionaire investor as part of a competition hosted by the animated television show “Secret Millionaire’s Club.” The fifth-grader at Bollman Bridge Elementary School in Jessup was one of 14 students selected to present their ideas to a panel of judges.
Krissa started Cupcakes for Literacy about six months ago. She and her friends bake cupcakes — generally chocolate, but sometimes red velvet, too — and sell them at school bake sales. Profits are donated to libraries and literacy programs.
Cupcakes for Literacy didn’t win the televised competition; the winning ideas were a wrist band with an elastic finger-holder that helps children learn how to correctly hold a pencil, and “Kidtrepreneur Kits,” monthly mailings with tips and ideas for students looking to start their own businesses.
The two winners — one individual entrepreneur and one group — won 10 shares of Buffett’s Berkshire Hathaway holding company conglomerate and $5,000 in seed funding to start their businesses. About 4,000 students between the ages of 7 and 17 applied.
Krissa said she applied for the contest because the winning prize of $5,000 would have helped her pay for the licenses she would need to distribute her cupcakes to area stores. For now, she plans to continue to sell them at local schools, as well as farmers markets.
Krissa was selected as a finalist in April. On May 18, she boarded a plane to Omaha to meet Buffett, a Cherry Coke fan whose firm’s holdings include the likes of Dairy Queen and See’s Candies.
“When I first found out, there was so much excitement going through my head,” said Krissa, who lives in Howard County. “I was nervous and excited, and there were so many emotions.”
Krissa prepared by making a PowerPoint presentation and practicing her handshake. The entire pitch lasted 15 minutes. There were eight judges, including Buffett, and a camera crew.
“I was very nervous,” she said. “But in the middle of the presentation, I calmed down.”
Krissa and her friends held their first bake sale at school in February. Within six hours, they had sold 150 cupcakes and racked up $258. (Cupcakes were $1.50, but some customers made extra donations.)
“I’ve been cooking for a long time and I love to read, so I thought of supporting reading programs with cupcakes,” Krissa said.
Before she went to Omaha, Krissa spent an hour with local entrepreneurs at the Maryland Center for Entrepreneurship.
Instead of memorizing a script, the team suggested Krisssa stick to a few main points. They helped her pare down her slides and reminded Krissa to stand still and smile.
“Here was somebody who had a good idea, who could really make something happen,” said Julie Lenzer Kirk, executive director of the Maryland Center for Entrepreneurship.
Next, Kirk says the organization will help Krissa expand her business and partner with area schools and companies.
“I told her, ‘Darling, we’re just getting started,’” Kirk said.

by Abha Bhattarai, The Washington Post

source: socialreader.com