MIDLAND, TX. (KMID/KPEJ) — A local man is making it his priority to teach children how to become successful entrepreneurs.

He’s doing it through an after-school program called Project L.A.M.B.O.

Midlander Joseph A. Norman is a successful entrepreneur and founder of Project L.A.M.B.O.

“Income statements, balance shoots, assets liabilities, those familiar terms that they need to get familiar with in order to make it in the business world,” says Joseph.

He teaches students valuable skills once a week at Jane Long Elementary in Midland. Right now the program is for 4th graders.

“I didn’t even know what an asset was until I came here,” says 4th grader Shaylee.

Besides just important business terms, students are learning the value of a dollar. They get their own money, called Lambucks, which can be used to buy stuff at the Project L.A.M.B.O. store.

“They wear their shirt, they’ll get Lambucks,” says Joseph “If they do something courteous for their fellow students they’ll get Lambucks. We developed that to build character, build morals. They also get to buy snacks with Lambucks.

Project L.A.M.B.O. could be expanding to more schools soon. Joseph says he hopes to take it to other schools within the next year, because he says these skills are invaluable for students.

“We want to fill-in the gap where they’re missing in the education system. They’re not teaching financial literacy, we want to fill that gap and develop entrepreneurs.” said Joseph.

There will be also be L.A.M.B.O. camp from June 6th-10th where local children can come out and learn about how to be successful entrepreneurs. For more on Project L.A.M.B.O., click here.