PRINT EVERYTHING TODAY!! YOU WILL PREPARE TO PRESENT & PRACTICE PRESENTING STARTING NEXT CLASS–You will have 2 classes to prepare & practice to present and th

SharkTank TV Show

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would y
    1. Read “It’s a Dog’s Life”
    2. Watch this: https://www.youtube.com/watch?v=RoytcBiOpDI&CFID=345212&CFTOKEN=34842412
    3. Read this: http://www.forbes.com/sites/dailymuse/2013/02/14/writing-a-business-plan-4-common-mistakes-to-avoid/?CFID=345212&CFTOKEN=34842412
    4. Bookmark this page: http://articles.bplans.com/writing-a-business-plan/?CFID=345212&CFTOKEN=34842412
    5. Answer these questions, to the best of your ability, in a Google Doc shared with me to help begin to organize your thoughts about your business idea: http://www.sba.gov/content/20-questions-before-starting-business?CFID=345212&CFTOKEN=34842412

    GOAL: Before you leave today you will have to opportunity to look at sample business plans and evaluate them.

    1. Watch this: https://www.youtube.com/watch?v=SMr_uLZV-eM&CFID=345212&CFTOKEN=34842412
    2. Go to: http://www.businesstown.com/planning/creating.asp?CFID=345212&CFTOKEN=34842412
      1. Click on Why Plan Your Business
      2. Go Back
      3. Click on Creating Your Business Plan
      4. Go Back
      5. Click on Outline of a Complete Business Plan
      6. Go Back
      7. Click on Developing a Business Plan
      8. Go Back
      9. Click on Rainbow Kites, Inc.–Use the Business Plan evaluation tool to evaluate it with a partner–Get it from your teacher.
    3. HOMEWORK:
      1. Go to: http://www.bplans.com/sample_business_plans.php?CFID=345212&CFTOKEN=34842412 and find a business plan resembles the type of business you are interested in starting
      2. Use the Business Plan evaluation tool to evaluate it.

    TURN IN YOUR HOMEWORK

    GOAL: Before you leave today you will have the opportunity to begin writing your business plan.

    1. Watch this: http://bizinnovator.com/assets/resources/BizKids/124.mp4?CFID=345212&CFTOKEN=34842412
    2. Bookmark this page to help you write the plan: http://www.sba.gov/writing-business-plan?CFID=345212&CFTOKEN=34842412
    3. Read this about how to write an executive_summary.
    4. Go to http://bizinnovator.com/index.cfm?fuseaction=student.previewMC&unit_id=1 and click on BizModel to start writing your plan. Remember this is a work in progress!!!

    Shark Tank Episodes

    Shark Tank Blog

    GOAL: Before you leave today you will know what is meant by an “elevator pitch” and you will know why it is important.

    Open this file: elevator_pitch

    Read: What is an elevator pitch?

    Watch:

    Create:

    • Create your own 3-minute elevator pitch. Use the Presentation Tips on the 2nd page of the elevator_pitch handout.

    GOAL: Finish creating your elevator pitch.

    READ AND WATCH: http://www.entrepreneur.com/article/228070?CFID=345212&CFTOKEN=34842412

    Read this to help you land a job: http://www.forbes.com/sites/nextavenue/2013/02/04/the-perfect-elevator-pitch-to-land-a-job/?CFID=345212&CFTOKEN=34842412

    Read this about creating the perfect elevator pitch: http://www.businessweek.com/stories/2007-06-18/the-perfect-elevator-pitchbusinessweek-business-news-stock-market-and-financial-advice?CFID=345212&CFTOKEN=34842412

    Watch this: https://www.youtube.com/watch?v=i6O98o2FRHw&CFID=345212&CFTOKEN=34842412

    Watch this: https://www.youtube.com/watch?v=XvxtC60V6kc&CFID=345212&CFTOKEN=34842412

    Watch this: https://www.youtube.com/watch?v=OcvqseDHmAo&CFID=345212&CFTOKEN=34842412

    Watch this: https://www.youtube.com/watch?v=glrgMC0o2UI&CFID=345212&CFTOKEN=34842412

     

    GIVE YOUR ELEVATOR PITCH: Your classmates will anonymously rate on a scale of  1-5 with 5 being GREAT IDEA and 1 being WHAT? I DON’T GET IT.

    Chapter 4 Business Plan Work

    1. On your own, do Build Your Business Plan Project on page 121–Share it with me in a Google Doc–you will need this for your Business Plan at bizinnovator.com
      1. Share the Google Doc with me.
      2. Send the Google Form to me (or the questions for the survey can just be typed in the Google Doc, if you do not know how to use a Google Form–TAKE APPS II TO LEARN!!!)
      3. Print the Competitive Analysis (it is the 2nd page in the Word file), complete it, hand it in

    Go to the http://bizinnovator.com/index.cfm site and work on the following sections in the Marketing Section:

    1. Competition Profile
    2. Customer Profile
    3. Review the Product & Service Plan and make adjustments, if necessary
    4. How to Write a Winning Executive Summary
    5. Review the Executive Summary and make adjustments, if necessary.
      1. Go to http://jacobsoninstitute.org/quickpitch/
      2. Scroll to the bottom
      3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!!
      4. Go back
      5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
    1. Review the Executive Summary and make adjustments, if necessary.
      1. Go to http://jacobsoninstitute.org/quickpitch/
      2. Scroll to the bottom
      3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
      4. Go back
      5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
    1. Review the Executive Summary and make adjustments, if necessary.
      1. Go to http://jacobsoninstitute.org/quickpitch/
      2. Scroll to the bottom
      3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
      4. Go back
      5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344

    TITAN

    1. Go to: http://titan3.ja.org/
    2. Watch the Intro video on the left
    3. Click LEARN MORE in the upper right corner and READ it
    4. Click BACK
    5. Click CLICK HERE to sign up for the FREE Public Version
    6. Fill out the forms…..here are some things to consider:
      1. WRITE DOWN YOUR ASSIGNED USER NAME
      2. Write down your password
      3. Use your school email
    7. Click FINISH
    8. Read the right side of your screen
    9. Click NEW PRACTICE GAME
    10. Leave all the settings the same
    11. Read the right side of your screen
    12. Click PLAY GAME
    13. After listening to the Board Member, click on your assistant
    14. Close the that little window
    15. Play the game once by yourself
    16. Set with a partner & play

    TITAN

    Lessons 1-3 Together

    Play the Game

    TITAN

    Lessons 2-3

    Play Game

     

     

    EVALUATING ENTREPRENEURIAL OPPORTUNITIES

     

    Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

    The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

    OR

    Your Entrepreneurial Opportunity 

    1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
    2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
    3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
    4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.

     

    STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

     

    Choose one of the following entrepreneurial opportunities or evaluate your own idea:

    • Painted light bulbs
    • Sandwiches that never get soggy
    • Wireless MP3 player
    • Digital display picture frame
    1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
    2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
    3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
    4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
    5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
    HOLIDAY INN: BEGINNINGS

     

    PARTNER ACTIVITY

    Assign each person in your group a job:

    1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
    2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
    3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

    Web Resources:

    Kemmons Wilson: America’s Innkeeper

    Holiday Inn Hotels and Resorts

    A STORY ABOUT OPPORTUNITY

     

    Read the following story about Opportunity Recognition:

    “Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

    Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

    Answer the following questions:

    1. How did Shannon know the kids would buy his snipe catchers?
    2. How do you know what your friends like and don’t like?
    3. Do your friends give you any clues?
    4. Could you use these same clues to identify possible money making opportunities in other situations?
    5. How can you evaluate money making opportunities?
    OPPORTUNITY ANALYSIS

     

    ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

    1. Increase sales of an existing product to a current market
      1. Improve distribution
      2. Cut prices
      3. Improved marketing
    2. Introduce existing products to a new market
      1. New geographic segment
      2. New markets
    3. Develop new products for an existing market
      1. New product
      2. Improve a current product
    4. Develop new products for a new market

    SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

    SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

    Day 2

    NEW VENTURE ANALYSIS

     

    TEMPLATE:

    Concept:

    Explain the business concept

    Product/Service Description:

    Describe the product/service that you will provide.

    Management Team:

    Who might be part of your management team?  Advisor(s)?

    Marketing:

    List a minimum of 3 items that could be used for marketing.

    Financials:

    Identify the costs and revenues of this business.

    Outlook:

    Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

    SAMPLE NEW VENTURE ANALYSIS

     

    Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

    Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

    Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

    Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

    Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

    Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

    Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

    Once the business idea is chosen, your group must complete the following:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

     

    SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

    SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

    Day 2

    NEW VENTURE ANALYSIS

     

    TEMPLATE:

    Concept:

    Explain the business concept

    Product/Service Description:

    Describe the product/service that you will provide.

    Management Team:

    Who might be part of your management team?  Advisor(s)?

    Marketing:

    List a minimum of 3 items that could be used for marketing.

    Financials:

    Identify the costs and revenues of this business.

    Outlook:

    Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

    SAMPLE NEW VENTURE ANALYSIS

     

    Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

    Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

    Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

    Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

    Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

    Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

    Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

    Once the business idea is chosen, your group must complete the following:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

    FINISH:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

    Day 3

    Present your business idea–Caleb, Jacob, Dalton

    SWOT ANALYSIS

     

    “SWOT” analysis is another method to evaluate potential business opportunities.

    “S”  = Strengths–The entrepreneur’s abilities and contacts.

    “W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

    “O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

    “T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

    Go to the following website:

    SWOT Analysis: How to perform one for your organization (5:22)

    SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

    1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

    Go to the following website:

    SWOT Analysis – Highly Brill Leisure Center

    1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

    FINISH:

    Present your business idea–Caleb, Jacob, Dalton

    SWOT ANALYSIS

     

    “SWOT” analysis is another method to evaluate potential business opportunities.

    “S”  = Strengths–The entrepreneur’s abilities and contacts.

    “W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

    “O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

    “T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

    Go to the following website:

    SWOT Analysis: How to perform one for your organization (5:22)

    SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

    1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

    Go to the following website:

    SWOT Analysis – Highly Brill Leisure Center

    1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
    BREAK EVEN ANALYSIS

     

    Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

    Watch this YouTube video: Breakeven Analysis – Charts

    Go to the following website and read for understanding: Break Even Analysis

    As you will notice, making a profit is necessary for a business idea to become an opportunity.

    Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

    Fixed Costs = $50

    Variable Unit Costs = $0.10

    Expected Unit Sales = 80

    Selling Price per Unit =        $1.00

    After completing a BE analysis with the above information, change the expected unit sales to 50 units.

    Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

    RETURN ON INVESTMENT

     

    Instructions: Read and evaluate the following information.  Answer the questions below.

    Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

    Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

     

    Incremental cash flow in $

    Year 1

    Year 2

    Year 3

    Year 4

    Year 5

    Total

    Total inflows

    233

    268

    229

    214

    215

    1,159

    Total outflows

    (339)

    (301)

    (115)

    21

    61

    (673)

    Given:

    Return on Investment = (Gains-Costs)/Costs

    What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

    What is the ROI for Year 4?

    What is the ROI for Year 5?

    What information is this telling you?  Would this be typical of a new business?

    **USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

     

    NTELLECTUAL PROPERTY

     

    Intellectual_Property PowerPoint

    Does anyone download music off the Internet.  Is this like shoplifting/stealing?

    What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

    Read “The Loud Noise Over ‘Free’ Music,” 

    How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

    Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

    Who will be able to produce new music if people cannot make money (a living) doing it?

    Go to these copyright web sites and examine several copyright infringement cases:

    Sonic Outlaws

    Visual Infringers

    Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

    Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

     

     

    TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

    Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

     

    FINISH!!!

    TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

    Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

    MAKE UP DAY

    MAKE UP DAY

    BUSINESS PLANNING UNIT

    Unit Objectives:

    1. Explain the purpose of a business plan
    2. Identify the parts of a business plan
    3. Assess a business plan
    4. Construct a business plan
    5. Evaluate a business plan
    6. Present a business plan

    ORDER OF EVENTS:

    1. Business Plan Introduction PowerPoint
    2. READ THIS ARTICLE
    3. BizKids Crash Course on Starting a Business
    4. Have a Plan Stan
    5. Identify parts of the business plan–Business Plan Graphic Organizer

    GOAL: Understanding the purpose of a business plan. 

    1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
    2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
    3. Share your evaluation with the class.
    4. Get with a partner and repeat steps 1 – 3 above AND do the following:
      1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
    5. Identify parts of the business plan–Business Plan Graphic Organizer

    GOAL: Write a business plan

    ONLINE BUSINESS PLAN

    GOAL: Write an executive summary.

    Writing an Executive Summary

    What Is an Executive Summary?

    An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

    A one-page Executive Summary MUST include the following:

    • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
    • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
    • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
    • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
    • Business Revenue Model—How will your business generate a profit/make money?
    • Current Stage of Business (e.g. Start-up/New or existing business)
    • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

    Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

    Goal: Learn how to present your business plan.

    Business Plan Template

    Guidelines for Judges

    Judges Scoring

     

    THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

    YOU WILL PRESENT YOUR ELEVATOR TODAY

    GOAL: Create an elevator pitch.

    Giving an Elevator Pitch Presentation

     

    What Is An Elevator Pitch?

    An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

    Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

    -Give Your Pitch

    Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

    Examples

    Online Resources

    Video

    Articles

    GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

    READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

    READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

    READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

    1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

    CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

    1. Primary Contact is you
    2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
    3. Upload your Executive Summary Word file.

    Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

    MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

     

     

    Brainstorming for Business Opportunities in Google Groups–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea. More detailed instructions are in the Google Group post.

    QUESTIONS FOR SCHECKEL’S–PRINT THEM WITH YOUR NAME ON IT–Think of at least 5 question about the business–Look up Scheckel Construction on the Internet (Josh Scheckel is the owner)

    Opportunity_Recognition PowerPoint

    1. OPPORTUNITY RECOGNITION EXAMPLE #1
      1. Hay In A Box Google Group Post
    2. OPPORTUNITY RECOGNITION EXAMPLE #2
      1. Mark Zuckerberg’s Facebook Story Part 1!
    3. OPPORTUNITY RECOGNITION EXAMPLE #1
      1. Sara Blakely, Speaker, Entrepreneur & Founder of SPANX
      2. Read this about Sarah Blakely
    4. Why did you learn from the video clips and articles today that you can use in your life either now or in the future?

    QUESTIONS FOR SCHECKEL CONSTRUCTION

     

    ABC’S SHARK TANK – WOULD YOU INVEST?

     

    Instructions:  Go to c.

    Step 1 :

    Choose an available Shark Tank episode: SharkTank TV Show

    Step 2:

    Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

    Step 3:

    Class discussion:

    • Do you think this idea has merit?  Why or why not?
    • Do you think people would purchase this product/service?
    • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
    • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

    Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

    • Overview of Idea
    • Outcome from Shark Tank (did the investors invest; how much?)
    • Student’s Impressions of Idea and Investment Opportunity – What would you do?
    • Where is the company today?
      • Search for company – does it exist?  Are they selling products?
    • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.

    FIELD TRIP TO HORIZON LANES

     

    THANK YOU TO HORIZON LANES–GOOGLE GROUP POST

     

    Shark Tank Google Group Activity

    FINISH: Shark Tank Google Group Activity

    MAKE UP WORK

    EVALUATING ENTREPRENEURIAL OPPORTUNITIES

     

    Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

    The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

    OR

    Your Entrepreneurial Opportunity 

    1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
    2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
    3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
    4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.

     

    STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

     

    Choose one of the following entrepreneurial opportunities or evaluate your own idea:

    • Painted light bulbs
    • Sandwiches that never get soggy
    • Wireless MP3 player
    • Digital display picture frame
    1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
    2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
    3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
    4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
    5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
    HOLIDAY INN: BEGINNINGS

     

    PARTNER ACTIVITY

    Assign each person in your group a job:

    1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
    2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
    3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

    Web Resources:

    Kemmons Wilson: America’s Innkeeper

    Holiday Inn Hotels and Resorts

    A STORY ABOUT OPPORTUNITY

     

    Read the following story about Opportunity Recognition:

    “Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

    Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

    Answer the following questions:

    1. How did Shannon know the kids would buy his snipe catchers?
    2. How do you know what your friends like and don’t like?
    3. Do your friends give you any clues?
    4. Could you use these same clues to identify possible money making opportunities in other situations?
    5. How can you evaluate money making opportunities?
    OPPORTUNITY ANALYSIS

     

    ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

    1. Increase sales of an existing product to a current market
      1. Improve distribution
      2. Cut prices
      3. Improved marketing
    2. Introduce existing products to a new market
      1. New geographic segment
      2. New markets
    3. Develop new products for an existing market
      1. New product
      2. Improve a current product
    4. Develop new products for a new market

    SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

    SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

    Day 2

    NEW VENTURE ANALYSIS

     

    TEMPLATE:

    Concept:

    Explain the business concept

    Product/Service Description:

    Describe the product/service that you will provide.

    Management Team:

    Who might be part of your management team?  Advisor(s)?

    Marketing:

    List a minimum of 3 items that could be used for marketing.

    Financials:

    Identify the costs and revenues of this business.

    Outlook:

    Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

    SAMPLE NEW VENTURE ANALYSIS

     

    Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

    Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

    Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

    Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

    Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

    Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

    Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

    Once the business idea is chosen, your group must complete the following:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

     

    SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

    SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

    Day 2

    NEW VENTURE ANALYSIS

     

    TEMPLATE:

    Concept:

    Explain the business concept

    Product/Service Description:

    Describe the product/service that you will provide.

    Management Team:

    Who might be part of your management team?  Advisor(s)?

    Marketing:

    List a minimum of 3 items that could be used for marketing.

    Financials:

    Identify the costs and revenues of this business.

    Outlook:

    Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

    SAMPLE NEW VENTURE ANALYSIS

     

    Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

    Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

    Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

    Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

    Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

    Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

    Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

    Once the business idea is chosen, your group must complete the following:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

    FINISH:

    1. A short paragraph explaining the business concept.
    2. A short paragraph describing the product/service.
    3. An explanation of who could be a part of the management team.
    4. A list of a minimum of 3 items that could be used for marketing.
    5. Identify what costs and revenues would be involved in the financials.
    6. What you would see as a future outlook for this business.
    7. You will present this next class to the class. Create your presentation using one of the following:
      1. Animoto
      2. WeVideo
      3. Pixorial
      4. Prezi
      5. PowToon
      6. Google Presentation

    Day 3

    Present your business idea–Caleb, Jacob, Dalton

    SWOT ANALYSIS

     

    “SWOT” analysis is another method to evaluate potential business opportunities.

    “S”  = Strengths–The entrepreneur’s abilities and contacts.

    “W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

    “O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

    “T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

    Go to the following website:

    SWOT Analysis: How to perform one for your organization (5:22)

    SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

    1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

    Go to the following website:

    SWOT Analysis – Highly Brill Leisure Center

    1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

    FINISH:

    Present your business idea–Caleb, Jacob, Dalton

    SWOT ANALYSIS

     

    “SWOT” analysis is another method to evaluate potential business opportunities.

    “S”  = Strengths–The entrepreneur’s abilities and contacts.

    “W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

    “O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

    “T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

    Go to the following website:

    SWOT Analysis: How to perform one for your organization (5:22)

    SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

    1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

    Go to the following website:

    SWOT Analysis – Highly Brill Leisure Center

    1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
    BREAK EVEN ANALYSIS

     

    Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

    Watch this YouTube video: Breakeven Analysis – Charts

    Go to the following website and read for understanding: Break Even Analysis

    As you will notice, making a profit is necessary for a business idea to become an opportunity.

    Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

    Fixed Costs = $50

    Variable Unit Costs = $0.10

    Expected Unit Sales = 80

    Selling Price per Unit =        $1.00

    After completing a BE analysis with the above information, change the expected unit sales to 50 units.

    Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

    RETURN ON INVESTMENT

     

    Instructions: Read and evaluate the following information.  Answer the questions below.

    Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

    Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

     

    Incremental cash flow in $

    Year 1

    Year 2

    Year 3

    Year 4

    Year 5

    Total

    Total inflows

    233

    268

    229

    214

    215

    1,159

    Total outflows

    (339)

    (301)

    (115)

    21

    61

    (673)

    Given:

    Return on Investment = (Gains-Costs)/Costs

    What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

    What is the ROI for Year 4?

    What is the ROI for Year 5?

    What information is this telling you?  Would this be typical of a new business?

    **USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

     

    NTELLECTUAL PROPERTY

     

    Intellectual_Property PowerPoint

    Does anyone download music off the Internet.  Is this like shoplifting/stealing?

    What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

    Read “The Loud Noise Over ‘Free’ Music,” 

    How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

    Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

    Who will be able to produce new music if people cannot make money (a living) doing it?

    Go to these copyright web sites and examine several copyright infringement cases:

    Sonic Outlaws

    Visual Infringers

    Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

    Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

     

     

    TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

    Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

     

    FINISH!!!

    TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

    Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

    MAKE UP DAY

    MAKE UP DAY

    BUSINESS PLANNING UNIT

    Unit Objectives:

    1. Explain the purpose of a business plan
    2. Identify the parts of a business plan
    3. Assess a business plan
    4. Construct a business plan
    5. Evaluate a business plan
    6. Present a business plan

    ORDER OF EVENTS:

    1. Business Plan Introduction PowerPoint
    2. READ THIS ARTICLE
    3. BizKids Crash Course on Starting a Business
    4. Have a Plan Stan
    5. Identify parts of the business plan–Business Plan Graphic Organizer

    GOAL: Understanding the purpose of a business plan. 

    1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
    2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
    3. Share your evaluation with the class.
    4. Get with a partner and repeat steps 1 – 3 above AND do the following:
      1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
    5. Identify parts of the business plan–Business Plan Graphic Organizer

    GOAL: Write a business plan

    ONLINE BUSINESS PLAN

    GOAL: Write an executive summary.

    Writing an Executive Summary

    What Is an Executive Summary?

    An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

    A one-page Executive Summary MUST include the following:

    • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
    • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
    • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
    • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
    • Business Revenue Model—How will your business generate a profit/make money?
    • Current Stage of Business (e.g. Start-up/New or existing business)
    • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

    Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

    Goal: Learn how to present your business plan.

    Business Plan Template

    Guidelines for Judges

    Judges Scoring

     

    THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

    YOU WILL PRESENT YOUR ELEVATOR TODAY

    GOAL: Create an elevator pitch.

    Giving an Elevator Pitch Presentation

     

    What Is An Elevator Pitch?

    An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

    Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

    -Give Your Pitch

    Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

    Examples

    Online Resources

    Video

    Articles

    GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

    READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

    READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

    READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

    1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

    CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

    1. Primary Contact is you
    2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
    3. Upload your Executive Summary Word file.

    Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

    MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

     

     

    Business Ideas for Young Entrepreneurs

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    • Define entrepreneurship.
    • Recognize the role entrepreneurs play in the U.S. economy.
    • Determine the reasons that businesses succeed or fail.

    Order of Events:

    1. Entrepreneurial Advice from Billionaires
    2. BELL RINGER: Read page 3 and answer the 3 questions in a Google Doc–share it with me (tracyweber@bellevue.k12.ia.us). USE GOOD WRITING SKILLS!
    3. Read page 4 and we will discuss the following questions together:
      1. How do you feel about working for someone else?
      2. Do you know anyone who operates their own business?
      3. What do you know about that business?
      4. Name some businesses in our community. What needs are they meeting?
    4. With a partner, discuss what you think is the most important reason to start your own business. Be prepared to share with the class.
    5. Read pages 4-7 together. In small groups, answer the following questions:
      1. What is the definition of an entrepreneur?
      2. What do entrepreneurs try to do?
      3. Explain the difference between an employee and an employer.
      4. Why do people become entrepreneurs?
      5. What does it mean to conduct business with integrity and ethics?
    6. Use www.whitepages.com to look up the following:
      1. What are the four types of entrepreneurial businesses? Provide an example of each. Try to think of local businesses.
      2. Provide local examples of agricultural and mining & extracting businesses.
      1. Explain the growth potential for green entrepreneurs.
      2. Why are many businesses going “green”?
    7. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer this question: What are some local examples of each type of entrepreneurial business?
    8. Read pages 7-11 and watch these videos: Howard Schultz and Starbucks’ Entrepreneurial Heritage | Inc. MagazineInterview with the Founders of Home Depot by OPEN Forum
    9. In small groups, answer the following questions:
      1. How do entrepreneurs strengthen a country’s economy?
      2. Are you surprised by the number of small businesses in the United States?
      3. Explain why you think some small businesses grow into corporations like Starbucks and The Home Depot.
    10. Read the Famous Entrepreneur section & WATCH THIS VIDEO CLIP:
      1. What kinds of obstacles did Walker have to overcome to succeed in that era?
      2. Why is it important for entrepreneurs to make contributions to their community in addition to offering a product or service? Provide some local examples of this.
      3. Why do you think Madam C. J. Walker became such a successful entrepreneur?
    11. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer these question:
      1. Describe how one of the entrepreneurs discussed in this section of the chapter recognized an opportunity to develop a successful business.
      2. Do most new businesses succeed? Explain.
      3. What are the major factors to success for a new business?
      4. What factors contribute to helping a business succeed?

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    • Define entrepreneurship.
    • Recognize the role entrepreneurs play in the U.S. economy.
    • Determine the reasons that businesses succeed or fail.

    Order of Events:

    1. WATCH THIS VIDEO CLIP ABOUT THE IMPORTANCE OF ENTREPRENEURSHIP TO THE US ECONOMY
    2. Observing the Small Business Code of Ethics–WATCH THIS–What does he suggest small business owners use to help them make decisions high in integrity and ethically moral? Create a Google Doc and share it with me.
    3. Critical Issues in Business Success and Failure–Watch this–Why do businesses fail? What can be done to help prepare for success? Read page 10 in your book also.
    4. Textbook page 11, Make Academic Connections: Do #5 & #7 and Think About It: Do #2 & #3 in the Google Doc. At the end of class we will share what we learned with the class.
    5. Do you have a hobby you are passionate about? Do you wish you could turn that hobby into a career? David and Wendi Kast turned their hobby into a profitable business doing what they love. Read about the Kasts’ experiences and then answer these questions in the Google Doc: What is the name of David and Wendi’s business? What convinced them to turn their hobby into a business? What was the biggest challenge they faced as they started their business?

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    • Identify the characteristics of successful entrepreneurs.
    • Identify the characteristics of good team members.
    • Assess whether you have what it takes to succeed in your own business.

    Order of Events:

    1. Finish the lesson plan from last class. We will discuss your responses together.
    2. COMMON CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
    3. BELL RINGER: Read “Think It Through” on page 12  and with a partner, discuss the Work As A Team section.
    4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us). Create a 2-column table. In the first column list your strengths (what are you good at or what do you like to do) and in the second column, list your weaknesses (what do you need more practice or education in).
    5. Read pages 12-13 and be prepared to answer the following questions:
      1. Compare your list of strengths and weaknesses with page 13. How are you alike and different?
      2. Why is it important for business owners to stay up to date on the latest technology?
    6. Read pages 14-17 and be prepared to answer the following questions:
      1. Why are team-building skills important to entrepreneurs?
      2. What are the positive characteristics of team members?
      3. How can participation on a sports team help prepare you to become an entrepreneur?
      4. In the “What Went Wrong” section of page 15, answer the 3 think critically questions.
      5. How can a self-assessment help you determine if you are right for entrepreneurship?
      6. What are some of your interests? What businesses could be started in our community from those interests?
      7. What is the difference between interest and aptitude?
      8. What are some advantages and disadvantages to being an entrepreneur?
      9. What kinds of assessments should you make to determine if entrepreneurship is right for you?
    7. In small groups, come up with 10 possible jobs for each item on the job attributes checklist on page 16. Be prepared to share with the class.

    Chapter Objective: Should You Become an Entrepreneur? Today’s Goals:

    • Define entrepreneurship.
    • Recognize the role entrepreneurs play in the U.S. economy.
    • Determine the reasons that businesses succeed or fail.

    Order of Events:

    1. 3 Keys to Successful Goal Setting
    2. Finish the lesson plan from last class.
      • BELL RINGER: Workbook page 3–answer them in a Google Doc. We will check them together.
      • Textbook page 17, Make Academic Connections: Do #5–get the handout from me!!
      • Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    • Identify sources for new business ideas.
    • Recognize different business opportunities.
    • Identify your own personal goals.

    Order of Events:

    1. Mark Cuban Documentary
    2. BELL RINGER: Read “Find An Idea” on page 18  and with a partner, Complete the Work As A Team section.
    3. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
    4. Read pages 18-19 and be prepared to answer the following questions:
      1. What should every new business do for the community in order to be successful?
      2. How important is it for a business idea to meet a need/want?
      3. How can opportunities and ideas lead to the start of a new business?
      4. How can hobbies, interests, past experiences, and discoveries or inventions may suggest the type of business to start?
    5. Read page 20 and be prepared to answer the following questions:
      1. What are some sources for investigating opportunities?
      2. What is the SBA and what is it’s purpose?
      3. Can an entrepreneur simply identify a business opportunity that appeals to them? Why or why not? What else must be done?
      4. How can you find out about various business opportunities?
    6. Read and do the Be Your Own Boss section on page 20. Respond in a Google Doc shared with me (tracyweber@bellevue.k12.ia.us).
    7. Read pages 21-22 and be prepared to answer the following questions:
      1. What is a SMART goal?
      2. Why is it important to write SMART goals?
      3. Why must financial goals be realistic?
      4. Why are financial goals important?
      5. Name some nonfinancial goals an entrepreneur may have.
    • BELL RINGER: Workbook page 5–answer them in a Google Doc. We will check them together.
    • Textbook page 22, in the Think About It and Make Academic Connections: Pick one from each section and respond in a Google Doc shared with me.
    • TEAMWORK: Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

    Chapter Objective: Should You Become an Entrepreneur?

    Today’s Goals:

    • List the six steps of the problem-solving model.
    • Describe ways to improve your problem-solving skills.

    Order of Events:

    1. The Essential Skills Series – Problem solving through creativity

    2. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
    3. Read pages 23-25 and be prepared to answer the following questions:
      1. What happens when an entrepreneur makes decisions casually, basing them on faulty assumptions or illogical thinking?
      2. How can a formal decision making model help business owners solve business problems?
      3. Why is it benefical to quantify the problem in step one?
      4. How can the sources you use help you gather the right information?
      5. Why is it important to identify all possibilities before making a final decision?
      6. Evaluate Dan’s problem. Can you think of other solutions?
      7. Can alternatives always be quantified by costs and benefits?
      8. What should be done once the best alternative is chosen?
      9. Why is step 6 so important?
    4. Read page 26-27 and be prepared to answer the following questions:
      1. What are some ways to improve problem-solving skills?
      2. What does it mean to be a good communicator?
      3. How can brainstorming be used?
      4. Should ideas be evaluated during the brainstorming session?
      5. What do success entrepreneurs do when they make a mistake?
      6. How can good communication skills help you succeed in business?
    5. Page 27 #4–Get with a partner & follow the 6 step problem solving processing………record your responses in the Google Doc for today.
    • Review for the test

    Order of Events:

    1. BELL RINGER: Workbook page 9–answer them in a Google Doc. We will check them together.
    2. Read page 34–does this interest you?
    3. Textbook: page 33 DO IT!!! We will use this the rest of the semester!!
    4. Textbook: read pages 28-29 and do the Try It Out on page 29 in Word. Print your letter. Include a letterhead.
    5. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 1 Study Guide
    6. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    TEST NEXT CLASS

    CHAPTER 1 TEST:Entrepreneurship Chapter 1 Test:

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    After the test–create a new Google Doc shared with me–read and do page 33 in your textbook

    You and your partner need to get ready to share with the class your 6 Step Problem Solving solution…….SHARE IT WITH ME AGAIN!!

    Watch this if time permits: Mark Cuban Documentary

    Enroll in the online version of this course:  login.cengagebrain.com

    Enter this code: CM-9781111964290-0000072

    Chapter Objective: What is the entrepreneurs role in a market economy?

    Today’s Goals:

    • Distinguish between needs and wants.
    • Describe the types of economic resources.
    • Explain the role of entrepreneurs in the U.S. economy.

    Order of Events:

    1. Wants Vs. Needs
    2. BELL RINGER: Read “Do you want it or need it?” on page 38  and with a partner, complete the Work As A Team section.
    3. As a class, let’s read page 37 together.
    4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
    5. Read pages 38-40 and be prepared to answer the following questions:
      1. What is economics all about?
      2. According to Maslow’s Hierarchy of Needs Pyramid, which needs must be met first and why?
      3. Are all needs the same for everyone? Explain.
      4. Explain the difference between economic wants and noneconomic wants.
      5. What is the difference between a need and a want?
    6. Read the NET Bookmark and do as it instructs.
    7. Economics Resources
    8. Read page 40-43 and be prepared to answer the following questions:
      1. What makes it impossible for you to meet all of your wants and needs? Explain.
      2. What is the purpose of economic resources?
      3. What kinds of resources are used for farming?
      4. What are 3 factors of production?
      5. What are some examples of natural resources?
      6. Which natural resources are unlimited? Explain.
      7. Provide examples of human resources. How do entrepreneurs provide human resources?
      8. Explain how specialization and division of labor can improve a business’s productivity.
      9. What are some examples of capital resources?
    9. Law of Diminishing Returns
      1. In our economy, what happens when supplies are limited and the demand is high?
      2. Explain the law of diminishing returns.
    10. Supply & Demand
      1. Why do some people believe that entrepreneurs are the backbone of the U.S. economy?
      2. How do entrepreneurs help meet the demands of consumers?
      3. What are some things entrepreneurs contribute to the U.S. economy?

    Chapter Objective: What is the entrepreneurs role in a market economy?

    Today’s Goals:

    • Distinguish between needs and wants.
    • Describe the types of economic resources.
    • Explain the role of entrepreneurs in the U.S. economy.

    Order of Events:

    1. BELL RINGER: Workbook pages 11-12–answer them in a Google Doc. We will check them together.
    2. Read the “Choose between alternatives” section on page 44 and with a partner answer the question in the “Work as a team” section.
    3. Economic Systems
    4. Read pages 44-50  and be prepared to answer the following questions:
      1. What are the 3 questions all economies must answer?
      2. If all economies must answer the same questions, what makes the economies different?
      3. Who makes all the decisions in a command economy? How does that affect the consumer? Provide a country as an example of this economy.
      4. In a market economy, who makes the decisions? Provide a country as an example of this economy.
      5. Explain what a traditional economy is and where it can be found.
      6. What is a mixed economy? Provide a country as an example of this economy.
      7. How does a country’ economic system affect consumers’ product choices?
      8. How does the type of economy affect the way the basic economic questions are answered?
      9. Why do you think Paul Revere was a successful entrepreneur?
      10. How important do you think it is to have a skill that you can use when starting a business? Provide examples of skills you possess.
    5. What is the Economic System in the US?
      1. What makes our economic system different from other countries?
      2. How do capitalism and free enterprise provide freedoms for businesses?
      3. What 4 basic principles is the U.S. economic system based on? Explain each.
    6. Scarcity & Opportunity Cost
      1. How does scarcity affect what is produced and how much something will cost?
      2. What decision did you have to make recently? What was the opportunity cost to that decision?
      3. What factors affect economic choices?
      4. If you have a skill, is it important to know how to apply that skill to business? Explain and provide an example.
    7. Functions of Business
      1. What are the functions of business?
    8. Read and do the Be Your Own Boss section on page 49. Share your thoughts with me in a Google Doc.
    9. On page 50, do #5 and #7 explain how you came up with each answer.

    Chapter Objective: What is the entrepreneurs role in a market economy?

    Today’s Goals:

    • Recognize how supply and demand interact to determine price.
    • Describe how costs of doing business affect the price of a good or service.
    • Explain the effect of different market structures on price.

    Order of Events:

    1. BELL RINGER: Workbook page 13–answer them in a Google Doc. We will check them together.
    2. Read the “Does supply match demand?” section on page 51 and with a partner answer the question in the “Work as a team” section.
    3. Supply, Demand, Equilibrium
    4. Read pages 51-54  and be prepared to answer the following questions:
      1. Under what circumstances might a company wish to expand or reduce production?
      2. What circumstances are you willing to buy more of a good? Less of a good?
      3. Provide examples of goods with elastic and inelastic demand.
      4. What is the equilibrium point? What does it represent?
      5. What affect do supply and demand have on price?
      6. Provide examples of fixed and variable costs.
      7. Which type of business is a higher risk–one with mostly fixed costs or one with mostly variable costs? Explain.

    Look up an entrepreneur that interests you. Write 2-3 paragraphs about what you learned and share it with me.

    Chapter Objective: What is the entrepreneurs role in a market economy?

    Today’s Goals:

    1. Recognize how supply and demand interact to determine price.
    2. Describe how costs of doing business affect the price of a good or service.
    3. Explain the effect of different market structures on price.

    Order of Events:

    1. Marginal Cost & Marginal Benefit
      1. How does the marginal benefit measure the advantages of producing one more unit while marginal cost measures the disadvantages of producing one more unit?
    2. Economies of Scale
      1. How do economies of scale affect consumers?
    3. Read and do the Want Went Wrong section on page 54. Answer the questions in a Google Doc shared with me.
    4. Market Structures
    5. Read pages 55-56  and be prepared to answer the following questions:
      1. How do the prices of products under perfect competition compare?
      2. Explain the difference between monopolistic competition, oligopoly competition and monopoly competition.
      3. What kind of competition do you think a TV manufacturer faces? Why?
      4. How does the market structure affect the price of a good or service?
    6. On page 56 read and do the Teamwork section. Be prepared to share your responses.
    7. With a partner, choose to complete one of the following TODAY:
      1. Page 57–must present today
      2. Page 60–Apply What You Learned #22 & 23
      3. Page 60-61–Make Academic Connections #24-26
      4. Page 61 What Would You Do? AND page 62
    8. On your own, do Build Your Business Plan Project on page 61.
    9. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
    10. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    TURN THIS IN:

    1. With a partner, choose to complete one of the following TODAY:
      1. Page 57–must present today
      2. Page 60–Apply What You Learned #22 & 23
      3. Page 60-61–Make Academic Connections #24-26
      4. Page 61 What Would You Do? AND page 62
    2. Read, Reflect, Write
    3. Monopoly
    1. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
    2. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
    3. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
      1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
      2. Page 61–DO #1-3 in the My Business Idea Doc
    4. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.
    5. Test tomorrow.

     

    For the first five minutes: Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Entrepreneurship Chapter 2 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    AFTER THE TEST:

    1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
      1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
      2. Page 61–DO #1-3 in the My Business Idea Doc
    2. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.

    FINISH TODAY:

    1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
      1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
      2. Page 61–DO #1-3 in the My Business Idea Doc

    TURN IN YOUR HOMEWORK PAGES 33 & 61–SHARE IT WITH ME & THE HANDOUT FROM LAST CLASS.

     

     

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • Explain the purpose of writing a good business plan.
    • Describe the importance of a business plan.

    Order of Events:

    1. BELL RINGER: Read the “Look before you leap.” section on page 66 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 65 together.
    3. Read pages 66-69  and be prepared to answer the following questions:
      1. What is a business plan and what is it’s purpose?
      2. Why would potential investors want to see your business plan?
      3. What are the 4 reasons to develop a business plan?
      4. Should lack of capital stop a great business idea from being developed? Explain.
      5. If you were a lender or an investor what would you look for in a business plan?
    4. Read the Famous Entrepreneur section on page 69. Answer the questions in a Google Doc shared with me.
    5. On page 70 read and do the #5 Communication section. Be prepared to share your responses.

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • List and describe the basic elements of a business plan.
    • Describe how to pull a business plan together.

    Order of Events:

    1. BELL RINGER: Workbook page 19–answer them in a Google Doc. We will check them together.
    2. Read the “Create interest in your business plan” section on page 71 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 71-80  and be prepared to answer the following questions:
      1. What are the 5 basic elements of a business plan?
      2. What should be included in the Introduction?
      3. What would the inclusion of long-term goals indicate to potential lenders and investors?
      4. What are the 3 types of business ownership? Provide an example of each.
      5. Why would lenders and investors want to know the qualifications of the leadership team and those working in the business?
      6. Why would a lender want to know the business’s competitive advantage?
      7. What should be included in the Marketing section of the business plan?
      8. What do you think should be emphasized in the marketing section: how a product is similar or different from other products? Explain.
      9. How important is it to research market conditions and prospective customers?
      10. What factors might make a difference to an investor if a business is trying to enter a declining market?
      11. Why is location important?
      12. What should be included in the Financial Management section of the business plan?
      13. Will citing potential problems hurt or help your chances of getting financing? Explain.
      14. What types of financial statements should a new business provide? How does this differ from an existing business?
      15. What should be included in the Operations section of the business plan?
      16. What will investors most like to see in this section?
      17. What is meant by harvest strategy and why would an investor want to see it in the business plan?
      18. What should be included in the Concluding Statement section of the business plan?
    4. Read the What Went Wrong section on page 57. Answer the questions in a Google Doc shared with me.
    5. Read pages 77-80  and be prepared to answer the following questions:
      1. What introductory elements need to be included with a business plan?
      2. In what order should everything be in for a completed business plan? Should you have a COVER PAGE? If so, what should be on it?
      3. What is the main purpose of the executive summary?
      4. What could be included in the appendix of your business plan?
      5. Why should you include supporting documents in your business plan?
    6. On page 80 read and do the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • Describe resources available for researching your business plan.
    • Name common mistakes to avoid in business planning.

    Order of Events:

    1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
    2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 81-85  and be prepared to answer the following questions:
      1. Why is it important to conduct thorough research when writing a business plan?
      2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
      3. Why is it a good idea to seek the help and advice of others when writing a business plan?
      4. What are other sources of help?
    4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
    5. Read pages 84-85  and be prepared to answer the following questions:
      1. What are the most common mistakes when creating a business plan and how can you avoid them?
    6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
    7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • Describe resources available for researching your business plan.
    • Name common mistakes to avoid in business planning.

    Order of Events:

    1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
    2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 81-85  and be prepared to answer the following questions:
      1. Why is it important to conduct thorough research when writing a business plan?
      2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
      3. Why is it a good idea to seek the help and advice of others when writing a business plan?
      4. What are other sources of help?
    4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
    5. Read pages 84-85  and be prepared to answer the following questions:
      1. What are the most common mistakes when creating a business plan and how can you avoid them?
    6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
    7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 23–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 90 #21
      2. Page 91–What Would You Do?
      3. Page 92
    3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 3 Study Guide
    4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Chapter Objective: Develop a Business Plan

    Today’s Goals:

    • Review

    Order of Events:

    1. On your own, do Build Your Business Plan Project on page 91.
    2. Test tomorrow

    Entrepreneurship Chapter 3 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    EXAM OVER BUSINESS PLANS: Work on your ONLINE BUSINESS PLAN–you will get a grade on what you accomplish this time!!

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Identify a target market by analyzing the needs of customers.
    • Explain how market segmentation can help an entrepreneur analyze a target market.

    Order of Events:

    1. What is Marketing?
    2. BELL RINGER: Read the Find Your Target Market on page 95 and Who is your customer?” section on page 96 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 96-100  and be prepared to answer the following questions:
      1. What is the danger of being too focused on the product or idea?
      2. How do you determine who your customer is?
      3. What questions should you ask when identifying your target market?
      4. Why should a market be segmented?
      5. What types of data should be researched to complete a customer profile?
    4. Read the What Went Wrong section on page 99. Answer the questions in a Google Doc shared with me.
    5. On page 100 read and do the #7 Marketing section. Be prepared to share your responses.
    6. RESOURCES:
      1. 10 Questions to Ask Before Determining Your Target Market
      2. Market Segmentationa
    1.  RESOURCES:
      1. 10 Questions to Ask Before Determining Your Target Market
      2. Market Segmentation

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Explain the role of market research.
    • Identify the six steps involved in market research.
    • Explain the role technology plays in marketing research.

    Order of Events:

    1. Netflix
    2. Netflix Hub
    3. Coca Cola Campaign

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Explain the role of market research.
    • Identify the six steps involved in market research.
    • Explain the role technology plays in marketing research.

    Order of Events:

    1. Science of Persuasion
    2. BELL RINGER: Workbook page 27–answer them in a Google Doc. We will check them together.
    3. Read the “Get to know your market” section on page 101 and with a partner answer the question in the “Work as a team” section.
    4. Read pages 101-104  and be prepared to answer the following questions:
      1. What will investors what to see when looking at your market section of your business plan?
      2. What is the difference between primary and secondary data? Provide an example of each.
      3. What kinds of questions are typically asked in a survey?
      4. In what other situations might observation be useful?
      5. What types of questions should be asked of a focus group?
      6. Why is secondary data an important part of market research?
    5. Read the Did you know? on page 103. Did you realize this?!
    6. Most Unforgettable Ad Campaigns of 2013
    7. Read the Famous Entrepreneur section on page 102. Answer the questions in a Google Doc shared with me.
    8. Read pages 104-109  and be prepared to answer the following questions:
      1. Why is the first step in marketing research so important?
      2. How can you determine the data needed?
      3. How can data be collected?
      4. What is important to consider when developing a survey?
      5. What can you learn from analyzing data?
      6. How can you use the data from market research?
      7. Why should entrepreneurs evaluate the actions they take?
    9. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me.
    10. Bad Customer Service
    11. Read pages 107-109  and be prepared to answer the following questions:
      1. Explain CRM. What is the goal?
      2. Explain EDI.
      3. How can technology be used in the market research process?
    12. Customer Service Quiz
    13. On page 109 read and do the Teamwork section. Be prepared to share your responses.
    14. MARKET RESEARCH RESOURCES:
      1. US Census Bureau
      2. County Business Patterns
      3. Hoover’s Databases
      4. Easy Demographics
      5. Barron’s
      6. Buyers & Suppliers
      7. Greenbook–Marketing Research Companies
      8. Bureau of Labor Statistics
      9. US Securities & Exchange Commission
      10. IPL2–Online Database/Library
      11. Investigative Resource Center
    1. Science of Persuasion
    2. Take notes on how you can apply this to your business.

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Explain the role of market research.
    • Identify the six steps involved in market research.
    • Explain the role technology plays in marketing research.

    Order of Events:

    1. Read pages 101-104  and be prepared to answer the following questions:
      1. What will investors what to see when looking at your market section of your business plan?
      2. What is the difference between primary and secondary data? Provide an example of each.
      3. What kinds of questions are typically asked in a survey?
      4. In what other situations might observation be useful?
      5. What types of questions should be asked of a focus group?
      6. Why is secondary data an important part of market research?
    2. Read the Did you know? on page 103. Did you realize this?!
    3. Most Unforgettable Ad Campaigns of 2013
    4. Read pages 104-109  and be prepared to answer the following questions:
      1. Why is the first step in marketing research so important?
      2. How can you determine the data needed?
      3. How can data be collected?
      4. What is important to consider when developing a survey?
      5. What can you learn from analyzing data?
      6. How can you use the data from market research?
      7. Why should entrepreneurs evaluate the actions they take?
    5. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me. THIS IS EXTREMELY USEFUL FOR YOUR BUSINESS PLAN!

    6. In a Google Doc shared with me:
      1. Describe IN DETAIL your customer (female, 30-50 years old, $50,000 HH income, married, 0-2 children, Caucasian, little disposable income, lives in town, physically fit, etc.)
      2. Use the information found on the NETBookmark to provide real statistics about your customer in the actual market you will be conducting business–PROVIDE NUMBERS!!
      3. Explain how you will use the information to make smart business decisions.
    1. Bad Customer Service
    2. Read pages 107-109  and be prepared to answer the following questions:
      1. Explain CRM. What is the goal?
      2. Explain EDI.
      3. How can technology be used in the market research process?
    3. Customer Service Quiz
    4. On page 109 read and do the Teamwork section. Be prepared to share your responses.
    5. LOOK AT THEM/SKIM THEM. THESE ARE MARKET RESEARCH RESOURCES YOU MAY NEED THESE FOR YOUR MARKETING PLAN SECTION OF YOUR BUSINESS PLAN:
      1. US Census Bureau
      2. County Business Patterns
      3. Hoover’s Databases
      4. Easy Demographics
      5. Barron’s
      6. Buyers & Suppliers
      7. Greenbook–Marketing Research Companies
      8. Bureau of Labor Statistics
      9. US Securities & Exchange Commission
      10. IPL2–Online Database/Library
      11. Investigative Resource Center
    6. Go to the BizInnovator website and work on the Marketing Section of your Business Plan.
    7. With 5 minutes left in class, send me an email message describing what you did today and how much of your business plan you completed.

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Explain the importance of knowing and understanding your competition.
    • Prepare a competitive analysis.
    • Describe strategies for maintaining customer loyalty.

    Order of Events:

    1. Marketing–Lemonade Challenge
    2. BELL RINGER: Workbook page 29–answer them in a Google Doc. We will check them together.
    3. Read the “Who is your competition” section on page 110 and with a partner answer the question in the “Work as a team” section.
    4. Read pages 110-116  and be prepared to answer the following questions:
      1. What is the US economy based on?
      2. Explain why it is important to find a market segment whose needs are not being met.
      3. Explain the difference between the 2 types of competition.
      4. How can you use secondary data resources to identify your competition?
      5. How can similar businesses compete for customers?
      6. Why do businesses need to be concerned about indirect competition?
      7. Why is it difficult for small businesses to compete with large retailers?
      8. Why is it important to understand the competition your business faces?
      9. What is purpose of a competitive analysis?
      10. How can you locate your competitors?
      11. Why is it important to know the strengths and weaknesses or your competition?
      12. How can a business use surveys to help maintain customer loyalty?
      13. What is the foundation of a successful business?
      14. What are some strategies for maintaining customer loyalty?
    5. Read the Be Your Own Boss on page 115.  Answer the questions in a Google Doc shared with me.
    6. On page 116 read and do the #5 Communication section and the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Identify and Meet A Market Need

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 31–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 117
      2. Page 120 #22
      3. Page 121 #25
      4. Page 121 “What Would You Do” and page 122
      5. Page 123
    3. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
    4. TEST NEXT CLASS

    Entrepreneurship Chapter 4 Test

    1. CLOSE EVERYTHING EXCEPT THE WINDOW OF YOUR BROWSER THE TEST IS LOCATED IN
    2. Answer all True/False and Multiple Choice
    3. Do the Numeric Section for extra credit
    4. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    MAKE UP DAY

    Chapter Objective: Market Your Business

    Today’s Goals:

    • Explain the importance of marketing a business.
    • Discuss how to develop a marketing strategy for a business.
    • Describe what information is included in a marketing plan.

    Order of Events:

    1. BELL RINGER: Read the “Is a marketing plan always necessary?” section on page 126 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 125 together.
    3. Read pages 126-129  and be prepared to answer the following questions:
      1. What is the main purpose of marketing?
      2. Why is marketing important to a business?
      3. What is included in the marketing mix?
      4. Why is it important to address all parts of a marketing strategy?
      5. What are the differences between short, medium, and long term goals?
      6. Why is goal setting important when developing a marketing strategy?
    4. Read the Famous Entreprener section on page 128.
    5. Read pages 130-1131  and be prepared to answer the following questions:
      1. Why is it important to write down your marketing plan?
      2. What questions should a marketing plan answer?
      3. What kinds of information should be included in a marketing plan for a small, locally owned lawn care business?

    Chapter Objective: Market Your Business

    Today’s Goals:

    • Explain how the marketing concept affects decisions regarding the product mix.
    • Define and describe the importance of product management.

    Order of Events:

    1. Branding
    2. BELL RINGER: Workbook page 35–answer them in a Google Doc. We will check them together.
    3. Read the “Does location affect image?” section on page 132 and with a partner answer the question in the “Work as a team” section.
    4. Viral Marketing
    5. Read pages 132-136  and be prepared to answer the following questions:
      1. Describe the marketing concept and explain why it is the preferred approach in today’s consumer-driven market.
      2. How does a business’s product mix help to satisfy customers?
      3. How does the marketing concept affect decisions made about the product mix?
      4. What are the differences in brand, package, and label?
      5. Why is product management important?
    6. Read and do the NETBookmark section on page 134. Answer the questions in a Google Doc shared with me.
    7. Snowball Effect
    8. Read the What Went Wrong section on page 135. Answer the questions in a Google Doc shared with me.
    9. On page 109 read and do #5 and the Teamwork section. Be prepared to share your responses.

     

    Chapter Objective: Market Your Business

    Today’s Goals:

    • Identify pricing objectives for a business.
    • Calculate the price for products using various methods.
    • Discuss factors to consider when pricing services.
    • List and describe various pricing strategies.

    Order of Events:

    1. BELL RINGER: Workbook page 37–answer them in a Google Doc. We will check them together.
    2. Read the “What price should I charge?” section on page 137 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 137-144  and be prepared to answer the following questions:
      1. How do you know if your price is set too high?
      2. How can each price objective be achieved?
      3. What is return on investment and how is it computed?
      4. How is market share computed?
      5. What is the market share depended upon?
      6. How can a business increase market share?
      7. How can networking contribute to a business’s success?
      8. Why is it important to determine pricing objectives before pricing goods and services?
      9. What is the difference between demand-based pricing, competition-based pricing, and cost-based pricing?
      10. When would a business mark down prices?
      11. What must a business be aware of when they are marking down a price?
      12. What are markups and markdown prices based on/
      13. What must a service business consider when setting prices?
      14. Name two strategies used in introductory pricing and provide an example of each.
      15. Explain psychological pricing and provide an example.
      16. What are the different types of discount pricing and provide examples of each.
    4. Read the Be Your Own Boss section on page 143. Answer the questions in a Google Doc shared with me.
    5. On page 144 read and do #5 and the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Market Your Business

    Today’s Goals:

    Review

    Order of Events:

    BELL RINGER: Workbook page 39–answer them in a Google Doc. We will check them together.

    With a partner, choose to complete one of the following TODAY:

    1. Page 145
    2. Page 149 #30
    3. Page 148 #28 AND page 149 #31
    4. Page 149 “What Would You Do” and page 150
    5. Page 151

    Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Entrepreneurship Chapter 5 Study Guide

    Entrepreneurship Chapter 5 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    Order of Events:

    1. On your own, do Build Your Business Plan Project on page 149–share your responses with me through Google Drive
    2. Bizinnovator–work on your marketing plan….

    Chapter Objective: Distribution, Promotion, and Selling

    Today’s Goals:

    • Describe the four basic options of channels of distribution.
    • Apply channels of distribution to the specific needs of various types of businesses.
    • List factors to consider in the physical distribution of products.

    Order of Events:

    1. BELL RINGER: Read the “Avoid distribution mixups” section on page 154 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 153 together.
    3. Read pages 154-156  and be prepared to answer the following questions:
      1. What is supply chain management and why is it important? Give an example.
      2. What are channels of distribution? Give an example.
      3. What are the differences between direct and indirect channels of distribution?
      4. What are the four options for channels of distribution? Which is the most cost effective?
      5. Which channel of distribution allows more customers to be reached, but is more expensive? Explain.
      6. Which channel of distribution reaches an even larger market, but has additional costs?
      7. Which channel of distribution is most often used for global marketing?
    4. Read the Be Your Own Boss section on page 156. Answer the questions in a Google Doc shared with me.
    5. Read pages 156-159  and be prepared to answer the following questions:
      1. Why are channels of distribution different for different types of businesses?
      2. What factors are important to consider in the physical distribution of products?
    6. Read and answers questions 1-3 on page 159 in a Google Doc shared with me. Use good writing skills.

    Chapter Objective: Distribution, Promotion, and Selling

    Today’s Goals:

    • List the many forms of advertising and discuss advantages and disadvantages of each.
    • Define publicity and describe ways to use publicity as a promotional tool.

    Order of Events:

    1. BELL RINGER: Workbook page 43–answer them in a Google Doc. We will check them together.
    2. Read the “Know the costs of promotion” section on page 160 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 160-168  and be prepared to answer the following questions:
      1. What is a promotional mix? Provide an example.
      2. What is advertising, why is it important to new businesses, and what must be considered when choosing the method of advertising?
      3. What are some different types of online advertising?
      4. What are the different ways to pay for online advertising?
      5. Why might some people overlook Internet ads?
      6. What are the advantages and disadvantages to television, radio, newspaper, telephone directory, direct-mail, transit, and social networking advertising?
      7. Why are magazines an effective advertising medium when you are trying to reach a specific target market?
      8. How can outdoor advertising be used effectively?
      9. Why is promotion important to a business?
    4. Read and do the NETBookmark section on page 163. Answer the questions in a Google Doc shared with me.
    5. Read the What Went Wrong section on page 167. Answer the questions in a Google Doc shared with me.
    6. Read pages 168-170  and be prepared to answer the following questions:
      1. What are the advantages and disadvantages of publicity?
      2. How can a company create public awareness and make its name more visible?
    7. On page 170 read and do the Teamwork section. Be prepared to share your responses.

    Chapter Objective: Distribution, Promotion, and Selling

    Today’s Goals:

    • Explain the role of selling in a business.
    • Determine how to meet customer needs and wants.
    • Discuss other types of promotional activities.
    • Evaluate the effectiveness of promotional campaigns.

    Order of Events:

    1. BELL RINGER: Workbook page 45–answer them in a Google Doc. We will check them together.
    2. Read the “Expand the business” section on page 171 and with a partner answer the question in the “Work as a team” section.
    3. Selling Strategies
    4. Top 5 Online Promotional Strategies
    5. Promotional Mix
    6. Read pages 171-175  and be prepared to answer the following questions:
      1. Why is selling important to a business?
      2. What skills/knowledge help to make a sell?
      3. Why is it important to meet customer needs and wants in the selling process?
      4. How is determining what an individual customer needs or wants is different from market research?
      5. What is the difference between rational and emotional buying?
      6. What is the purpose of sales promotion?
    7. Read the Famous Entrepreneur section on page 174. Answer the questions in a Google Doc shared with me.
    8. Read pages 175-176  and be prepared to answer the following questions:
      1. How can you determine the effectiveness of promotional activities?
    9. On page 176 read and do #4. Be prepared to share your responses.

    COMPETITION

    Chapter Objective: Distribution, Promotion, and Selling

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 47–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 177
      2. Page 180 #24 7 #25
      3. Page 180#26 7 #29
      4. Page 180 #27
      5. Page 180 #28
      6. Page 181 “What Would You Do” and page 182
      7. Page 183
    3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 6 Study Guide
    4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Chapter Objective: Distribution, Promotion, and Selling

    Today’s Goals:

    • Review

    Order of Events:

    1. www.bizinnovator.org
      1. make it your own!!
      2. get into it!!
      3. pretend you will actually do this!!’
    2. Test tomorrow

    TAKE THE FIRST 10 MINUTES OF CLASS TO REVIEW

    Entrepreneurship Chapter 6 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

     

     

     

     

     

    Chapter Objective: Select a Type of Ownership

    Today’s Goals:

    • List advantages and disadvantages of purchasing an existing business.
    • Describe how to evaluate a franchise opportunity.
    • List advantages and disadvantages of joining a family business.
    • List advantages and disadvantages of starting a new business.

    Order of Events:

    1. BELL RINGER: Read the “How can we get this dough rising?” section on page 186 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 185 together.
    3. Read pages 186-193  and be prepared to answer the following questions:
      1. When would seeking the services of a business broker be useful?
      2. What are the advantages and disadvantages to purchasing an existing business?
      3. What should you consider when evaluating a franchise opportunity?
    4. Read and do the NETBookmark section on page 192. Answer the questions in a Google Doc shared with me.
    5. Read pages 193-195  and be prepared to answer the following questions:
      1. What are some advantages and disadvantages of entering a family business?
      2. Why is it more difficult to start a new business than to take over an existing business or purchase a franchise?

    Chapter Objective: Select a Type of Ownership

    Today’s Goals:

    • List advantages and disadvantages of a sole proprietorship.
    • List advantages and disadvantages of a partnership.
    • List advantages and disadvantages of a corporation.

    Order of Events:

    1. BELL RINGER: Workbook page 51–answer them in a Google Doc. We will check them together.
    2. Read the “Establish ownership” section on page 196 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 196-199  and be prepared to answer the following questions:
      1. Why are sole proprietorships the most common form of business ownership?
      2. Name some of the advantages and disadvantages of a partnership.
    4. Read the What Went Wrong section on page 199. Answer the questions in a Google Doc shared with me.
    5. Read pages 200-202  and be prepared to answer the following questions:
      1. What is the main benefit of setting up your business as a corporation?
    6. Read the Be Your Own Boss section on page 201. Answer the questions in a Google Doc shared with me.
    7. On page 202 read and do #4. Be prepared to share your responses.

    Chapter Objective: Select a Type of Ownership

    Today’s Goals:

    • Recognize how laws promote competition.
    • Describe how entrepreneurs protect intellectual property.
    • Identify regulations that protect the public and how they affect business.
    • Describe when and how a business owner should seek legal advice.

    Order of Events:

    1. BELL RINGER: Workbook page 53–answer them in a Google Doc. We will check them together.
    2. Read the “Why are there regulations?” section on page 203 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 203-207  and be prepared to answer the following questions:
      1. How do laws promote competition?
      2. How does antitrust legislation affect pricing?
      3. How can entrepreneurs protect itellectual property rights?
    4. Read the Famous Entrepreneur section on page 206. Answer the questions in a Google Doc shared with me.
    5. Read pages 207-210  and be prepared to answer the following questions:
      1. What laws protect the public?
      2. Name legal issues of which entrepreneurs should be aware.
    6. On page 210 read and do #5. Be prepared to share your responses.

    Chapter Objective: Select a Type of Ownership

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 55-56–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 211
      2. Page 214 #25-27
      3. Page 214-215 #28 &  #32
      4. Page 215″What Would You Do” and page 216
      5. Page 217
    3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 7 Study Guide
    4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Entrepreneurship Chapter 7 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Identify options for locating a retail business.
    • Discuss factors to consider when choosing a location.
    • Identify the benefits of locating a business online.
    • Describe steps to take in selecting a site.

    Order of Events:

    1. BELL RINGER: Read the “Good locations come at a price.” section on page 220 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 219 together.
    3. Read pages 220-227  and be prepared to answer the following questions:
      1. What are the advantages and disadvantages of locating a business in a shopping mall?
      2. What are the main options for locating a retail business?
      3. Why do you think the number of home-based businesses is growing?
      4. What are some of the factors to consider when selecting a location for a non-retail business?
      5. What are some benefits of having a virtual or online business?
      6. What are some of the factors you should consider when selecting a site for your business?
    4. Read the What Went Wrong section on page 226. Answer the questions in a Google Doc shared with me.
    5. On page 227, with a partner, choose to do either #5 or the Teamwork section.

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Compare purchase and lease options.
    • Describe layout considerations for different types of businesses.

    Order of Events:

    1. BELL RINGER: Workbook page 59–answer them in a Google Doc. We will check them together.
    2. Read the “Store layout results in walking inventory.” section on page 228 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 228-233  and be prepared to answer the following questions:
      1. Name three kinds of commercial leases.
      2. What are the major considerations for choosing a layout for a business?
    4. Be sure to read the Did You Know? on page 230.
    5. Read the Famous Entrepreneur section on page 231. Answer the questions in a Google Doc shared with me.
    6. Read and do the NETBookmark on page 232. Answer the questions in a Google Doc shared with me.

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Explain how to find and choose vendors for your business.
    • List factors that determine the needed level of inventory.

    Order of Events:

    1. BELL RINGER: Workbook page 61–answer them in a Google Doc. We will check them together.
    2. Read the “Set up shop.” section on page 234 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 234-238  and be prepared to answer the following questions:
      1. What should you consider when selecting vendors for your business?
      2. What kinds of inventory might a bakery have?
      3. Why should you keep track of your inventory?
      4. How do you determine the amount of inventory to keep in stock?
    4. Read  the Be Your Own Boss on page 237. Answer the questions in a Google Doc shared with me.
    5. With a partner, do either #5 or the Teamwork activity on page 238.

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 63–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 239 & page 242 #22
      2. Page 242 #25
      3. Page 242 & 243 #23 & #26
      4. Page 243 “What Would You Do” and page 244
      5. Page 245
    3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 8 Study Guide
    4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Review

    Order of Events:

    1. On your own, do Build Your Business Plan Project on page 243.
    2. Test tomorrow

    Entrepreneurship Chapter 8 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    Chapter Objective: Plan and Track Your Finances

    Today’s Goals:

    • Estimate your startup costs and personal net worth.
    • Identify sources of equity capital for your business.
    • Identify sources of debt capital for your business.

    Order of Events:

    1. BELL RINGER: Read the “Line up your financing” section on page 248 and with a partner answer the question in the “Work as a team” section.
    2. As a class, let’s read page 247 together.
    3. Read pages 248-255  and be prepared to answer the following questions:
      1. Why is the net worth of an entrepreneur important to potential investors in the business?
      2. What are some ways entrepreneurs can get equity capital?
      3. What are the pros and cons of borrowing money from family and friends?
      4. Where can entrepreneurs look for debt financing?
    4. Read the Famous Entrpreneur section on page 253. Answer the questions in a Google Doc shared with me.
    5. Read and do the NETBookmark. Answer the questions in a Google Doc shared with me.
    6. On page 255, with a partner, do #4& #5. Be prepared to share your work.

    Chapter Objective: Plan and Track Your Finances

    Today’s Goals:

    • Prepare a pro forma cash flow statement.
    • Prepare a pro forma income statement.
    • Prepare a pro forma balance sheet.

    Order of Events:

    1. BELL RINGER: Workbook page 67–answer them in a Google Doc. We will check them together.
    2. Read the “Show me the money!” section on page 256 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 256-262  and be prepared to answer the following questions:
      1. What does a cash flow statement show?
      2. Why should a business estimate the amount of revenue it expects to earn?
      3. What does an income statement show?
      4. Name on example each of a current (liquid) asset, a fixed (illiquid) asset, a current liability, and a long-term liability.
    4. Read and do the Teamwork section in a group of 3. This is due today!!

    Chapter Objective: Plan and Track Your Finances

    Today’s Goals:

    • Differentiate between alternative methods of accounting.
    • Describe the use of journals and ledgers in a recordkeeping system.
    • Explain the importance of keeping accurate and up-to-date bank, payroll, and tax records.

    Order of Events:

    1. BELL RINGER: Workbook page 69 & 70 (do only #1 on page 70)–answer them in a Google Doc. We will check them together.
    2. Read the “Keep it all straight.” section on page 263 and with a partner answer the question in the “Work as a team” section.
    3. Read pages 263-270  and be prepared to answer the following questions:
      1. What is the main difference between the cash and accrual methods of accounting?
      2. What is the difference between a journal and a ledger?
      3. How can you balance your checking account?
      4. Why is it important for a business to carefully estimate its taxes?
      5. What kinds of bank, payroll, and tax records do you have to keep?
    4. Read the What Went Wrong section on page 267. Answer the questions in a Google Doc shared with me.
    5. Read the Be Your Own Boss section on page 269. Answer the questions in a Google Doc shared with me.
    6. Read and do #4 & #5 on page 270 with a partner. This is due today!!!

    Chapter Objective: Plan and Track Your Finances

    Today’s Goals:

    • Review

    Order of Events:

    1. BELL RINGER: Workbook page 71 & 72 (do only #2 on page 72)–answer them in a Google Doc. We will check them together.
    2. With a partner, choose to complete one of the following TODAY:
      1. Page 271
      2. Page 274 #24 & #25
      3. Page 274 #26 & #27
      4. Page 275″What Would You Do” and page 276
      5. Page 277
    3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 9 Study Guide
    4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

    Chapter Objective: Locate and Set Up Your Business

    Today’s Goals:

    • Review

    Order of Events:

    1. On your own, do Build Your Business Plan Project on page 275.
    2. Test tomorrow

    Entrepreneurship Chapter 9 Test

    1. Answer all True/False and Multiple Choice
    2. Do the Numeric Section for extra credit
    3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

    Chapter Objective: Select a Type of Ownership

    Today’s Goals:

    • Review

    Order of Events:

    1. On your own, do Build Your Business Plan Project on page 215.
    2. Test tomorrow

    THE PROFIT/SHARK TANK

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Create an account at https://www.sba.gov/tools/business-plan/1 (write down your username and password)
    2. Under COVER PAGE (1) read the INTRODUCTION
    3. Click the COVER PAGE tab and fill it out. You can always go back and change it.
    4. Create a LOGO for your business.
    5. Create a business card for your business.
    6. Create a website for your business.
    7. Click SAVE

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. In the HELP WITH THIS SECTION click USING THIS TOOL
    3. When you see a green checkmark next to COVER PAGE, click EXECUTIVE SUMMARY
    4. Read the Introduction
    5. In the HELP WITH THIS SECTION click the following and read them:
      1. Executive Summary Example 1
      2. Executive Summary Example 2
      3. Executive Summary Definitions

    BIZINNOVATOR PITCH CONTEST

    PITCH IT TO WIN IT COMPETITION

     

    BIZINNOVATOR PITCH CONTEST

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to EXECUTIVE SUMMARY, click COMPANY DESCRIPTION
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:
      1. Company Description Example 1
      2. Company Description Example 2
      3. Company Description Definitions

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to COMPANY DESCRIPTION, click MARKET RESEARCH
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:
      1. Market Research Example 1
      2. Market Research Example 2
      3. Market Research Definitions THIS MIGHT HELP

     

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to COMPANY DESCRIPTION, click MARKET RESEARCH
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:
      1. Market Research Example 1
      2. Market Research Example 2
      3. Market Research Definitions THIS MIGHT HELP

     

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to MARKET RESEARCH, click PRODUCT/SERVICE LINE
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:
      1. Product/Service Line Example 1
      2. Product/Service Line Example 2
      3. Product/Service Line Definitions

     

    READ THIS AND WATCH THE VIDEO

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to PRODUCT/SERVICE LINE, click MARKETING & SALES
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:
      1. Marketing & Sales Example 1
      2. Marketing & Sales Example 2
      3. Marketing & Sales Definitions

     

    GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

    1. Go to https://www.sba.gov/tools/business-plan/1 and log in
    2. When you see a green check mark next to MARKETING & SALES, click FINANCIAL PROJECTIONS
    3. Read the Introduction
    4. In the HELP WITH THIS SECTION click the following and read them:

    JA TITAN TOURNAMENT–LAST DAY!!

    JA TITAN ASSESSMENT–You have today to finish this at the top of your Google Doc for this class

    Answer the following questions to the best of your ability. Your response will be measured on your ability the EXPLAIN WHY you have chosen your prices.

    1. You obtained funding for a portion of your business’ operating costs. Because of this venture capital, your production cost/unit (cost to produce on Holo-Generator) is $5. You must charge at least $25 per Holo-Generator. If you want to make more money to expand your business, you can choose to charge more. However, before setting a price, think about what people will pay for your Holo-Generator. Price?
    2. You fund your business with your personal savings. Your production cost/unit (cost to produce one Holo-Generator) is $17. You must charge at least $25 per Holo-Generator. If you would like to make more money to expand your business and rebuild your savings, you can choose to charge more. However, before setting a price, think about what people will pay for your Holo-Generator. Price?
    3. You borrowed money from friends and family to pay for your business’ start-up costs.  Your production cost/unit (cost to produce one Holo-Generator) is $14. You must charge at least $25 per Holo-Generator. If you would like to make more money to expand your business and repay your friends and family sooner, you can choose to charge more. However, before setting a price, think about what people will pay for your Holo-Generator. Price?
    4. You fund your business with your personal savings. Your production cost/unit (cost to produce one Holo-Generator) is $17. You must charge at least $25 per Holo-Generator. If you would like to make more money to expand your business and rebuild your savings, you can choose to charge more. However, before setting a price, think about what people will pay for your Holo-Generator. Price?

    VIRTUAL TEAM CHALLENGE–TASK 1–FINISH TODAY

    If it isn’t loading at all or when you are dones with Task 1, work on answering the following questions in your Google Doc for this class. After that, go to www.sba.gov to work on your business plan.

    Be sure you can answer the following questions (use the handouts for Task 1):

    1. Why are businesses formed?
    2. Which of the following is a business?
      1. Your local church
      2. Your local public high school
      3. A professional sports franchise
      4. All of the above
    3. Which of the following is an economic goal?
      1. Keeping production costs low in order to make a profit
      2. Selling higher quality goods for higher prices in order to make a profit
      3. Increasing sales to achieve profit growth year after year
      4. All of the above
    4. When does a business report a profit?
    5. Which of the following is an example of a merchandising business?
      1. A supermarket
      2. Your high school
      3. A doctor’s office
      4. Rockwell
    6. Which of the following is a feature of a merchandising company?
      1. Merchandising operations have inventories.
      2. Merchandising operations primarily perform activities, jobs or duties for other businesses or individuals.
      3. Merchandising operations convert raw materials or components into finished products.
      4. Merchandising operations have 3 or fewer employees
    7. Which of the following is an example of a manufacturing business?
      1. A supermarket
      2. Your high school
      3. A doctor’s office
      4. Rockwell
    8. Which of the following is a feature of a manufacturing companies?
      1. Manufacturing operations have merchandising inventories.
      2. Manufacturing operations primarily perform activities, jobs or duties for other businesses or individuals.
      3. Manufacturing operations convert raw materials or components into finished products.
      4. Manufacturing operations have 3 or fewer employees
    9. Which of the following is an example of a service business?
      1. A supermarket
      2. Your high school
      3. A doctor’s office
      4. Rockwell
    10. Which of the following is a feature of a service organization?
      1. Service operations have inventories.
      2. Service operations primarily perform activities, jobs or duties for other businesses or individuals.
      3. Service operations convert raw materials or components into finished products.
      4. Service operations have 3 or fewer employees
    11. When would a business recognize revenue?
      1. When the business receives payments from its customers
      2. When the business receives more revenue than it incurs expenses
      3. When profits are excessive
      4. When the business incurs more profit than it does expenses
    12. Which of the following best describes a mission statement?
      1. A one or two sentence statement that summarizes the intent of an organization
      2. An overall guideline that serves to guide strategy for the organization
      3. A short description of an organization’s high-level goals
      4. All of the above
    13. Which of the following would be included in a business plan?
      1. An executive summary
      2. Market research
      3. A mission statement
      4. All of the above
    14. Acme Widgets reports the following information for the 2016 fiscal year: Sales, $320,000. Rent expense, $42,000. Salaries expense, $198,000. Raw materials used in production, $6,000. Supplies, $17,000. Given this information, which of the following would be true?
      1. Acme Widgets reported revenues of $320,000 and $246,000 of expenses for fiscal year 2016.
      2. Acme Widgets reported revenues of $320,000 and $240,000 of expenses for fiscal year 2016.
      3. Acme Widgets reported revenues of $320,000 and $263,000 of expenses for fiscal year 2016.
      4. None of the above

    Virtual Business Challenge–Please read this–it is reflections written by people who have played this in the past–LEARN from & UTILIZE what they have to say!!!

    Use these hints–scroll down to VBC Management Hints

    Virtual Business Challenge–Please read this–it is reflections written by people who have played this in the past–LEARN from & UTILIZE what they have to say!!!

    Use these hints–scroll down to VBC Management Hints

    LOOK AT THE RANKINGS–ONLY 1 FOR IOWA–WEST DELAWARE………

    Contemplate these questions:

    1. What does the income statement show? How can you use this to help your business be more profitable?
    2. What does the balance statement show? How can you use this to help your business be more profitable?
    3. How can the design process diagram help you?
    4. How can you use the cost info to make your business more profitable?
    5. What does the daily production report show? How can you use this information?
    6. What did you find out when you checked the Comments & Messages?
    7. How can you bid jobs so that you win the bid AND make a profit?
    8. Can the layout of the office, process, and raw materials floors affect production and profit? How?
    9. How can you use the Actions Journal to help you make better business decision?
    10. In this simulation, what are the 2 main things you control?
    11. What should you consider doing when your bids start to come faster?
    12. Your goal is the earn the most WHAT over 6 months?

    Virtual Business Challenge–Please read this–it is reflections written by people who have played this in the past–LEARN from & UTILIZE what they have to say!!!

    Use these hints–scroll down to VBC Management Hints

    LOOK AT THE RANKINGS–ONLY 1 FOR IOWA–WEST DELAWARE………

    Answer these questions in the class Google Doc:

    1. What does the income statement show? How can you use this to help your business be more profitable?
    2. What does the balance statement show? How can you use this to help your business be more profitable?
    3. How can the design process diagram help you?
    4. How can you use the cost info to make your business more profitable?
    5. What does the daily production report show? How can you use this information?
    6. What did you find out when you checked the Comments & Messages?
    7. How can you bid jobs so that you win the bid AND make a profit?
    8. Can the layout of the office, process, and raw materials floors affect production and profit? How?
    9. How can you use the Actions Journal to help you make better business decision?
    10. In this simulation, what are the 2 main things you control?
    11. What should you consider doing when your bids start to come faster?
    12. Your goal is the earn the most WHAT over 6 months?
    1. WORK ON YOUR EXECUTIVE SUMMARY–BE SURE TO INCLUDE ALL THIS INFO–Save it in a WORD file–print it & turn it in to me
    2. SUBMIT YOUR EXECUTIVE SUMMARY TO THE CONTEST WHEN YOU ARE DONE–Here is some info that might help you when filling out the application:
      1. YOU are the PRIMARY CONTACT
      2. My name: Tracy Weber
      3. My email: tracyweber@bellevue.k12.ia.us
      4. My phone number: 5636631344
      5. LET ME SEE YOUR APPLICATION BEFORE YOU CLICK SUBMIT!!

    VIRTUAL TEAM CHALLENGE

    End Task 1

    BEGIN TASK 2–READ THIS:

    portable-skills-handouts
    environmental-awareness-handouts
    problem-solving-handouts

    BEGIN TASK 2–READ THIS:

    portable-skills-handouts
    environmental-awareness-handouts
    problem-solving-handouts

    Be sure you can answer the following questions:

    1. Which of the following describes the word ethics?
      1. Moral standards and guidelines that regulate ‘right’ and ‘wrong’ conduct.
      2. Ideas about what an individual feel is ‘right’ and ‘wrong’ conduct.
      3. A discipline in philosophy containing several branches, including normative ethics and meta-ethics.
      4. All of the above
    2. Who coined the term ‘ethics’?
    3. Which of the following best describes ethical principles?
      1. Inner beliefs, morals, values, that one turns to when making difficult decisions.
      2. Explicit guidelines that people use when deciding which course of action or behavior would be ‘the right thing to do’ in a given situation.
      3. Codes of personal conduct derived from the Ten Commandments and the Golden Rule that are intended to govern behavior
      4. All of the above
    4. Which of the following is an example of an ethical principal?
      1. The belief that video games are evil.
      2. The belief that one should always tell the truth.
      3. The belief one should never take no for an answer.
      4. The idea that everyone should be equal in the eyes of the law.
    5. Which of the following is NOT an example of an ethical principle?
      1. The belief that torture is wrong.
      2. The idea that one should always treat others as they’d like to be treated.
      3. The idea that one should always act the same way as others would, given the same circumstances.
      4. The belief that one should always do what is in the best interest of everyone involved.
    6. Which of the following is an example of a positive duty?
      1. The obligation to refrain from lying.
      2. The obligation to not steal items from a grocery store.
      3. The duty to treat one’s parents and teacher respectfully.
      4. The duty to never cheat on exams.
    7. Which of the following is an example of a negative duty or right?
      1. The obligation to pay taxes.
      2. The obligation to pay for items and not steal them.
      3. The obligation to clean one’s room and take out the garbage.
      4. These are all negative duties.
    8. The moral rights principle states that the best decision is one that………what?
    9. The practical principle states that the best decision is……..what?
    10. The utilitarian principle states that the best decision is one that……what?
    11. Which of the following is NOT true about ethics?
      1. Ethics considers moral standards and guidelines that regulate right and wrong conduct.
      2. People use ethics to describe ideas about what an individual feels is right and wrong conduct.
      3. Ethics is a discipline in philosophy containing several branches, including normative ethics and meta-ethics.
      4. All of the above statements about ethics are true.
    12. What statement is true about negative duties and ethical obligations?
      1. Negative duties are those which one does not necessarily want to perform.
      2. Negative duties are those that are damaging to the individual.
      3. Negative duties are usually optional.
      4. Negative duties entail that one should refrain from certain actions and behaviors.

    ou invest in this company?  How much?  How much equity would you expect to have in the company?

  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

VIRTUAL TEAM CHALLENGE

BEGIN TASK 3

Be sure you can answer the following questions:

  1. What is decision-making?
  2. What is cost-benefit analysis?
  3. The break even point is always equal in value to
    1. The cost associated with pursuing a decision option.
    2. The benefits associated with pursuing a decision option.
    3. The costs associated with pursuing a decision option, minus its benefits.
    4. The benefits associated with pursuing a decision option, minus the costs.
  4. What statement is true about the costs of a decision?
    1. They can be one-time occurrences, or they can occur periodically.
    2. They usually accrue over time.
    3. They can always be measured in dollar terms.
    4. The costs of an ethical decision are always equal to the benefits.
  5. What statement is NOT TRUE about the benefits of a decision?
    1. They can be one-time occurrences, or they can occur periodically.
    2. They usually accrue over time.
    3. They can always be measured in dollar terms.
    4. The costs of an ethical decision are always equal to the benefits.
  6. Which of the following is not necessarily performed in a cost-benefit analysis?
    1. Quantifying the costs associated with a decision.
    2. Quantifying the benefits associated with a decision.
    3. Determining the payback period and/or break-even point
    4. Determining which decision offers the most benefit, and which offers the least cost.

You’ll Never Hear Successful People Say These 15 Phrases

WORK ON YOUR BUSINESS PLAN & WEBSITE

GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

  1. Go to https://www.sba.gov/tools/business-plan/1 and log in
  2. When you see a green check mark next to MARKETING & SALES, click FINANCIAL PROJECTIONS
  3. Click PREVIEW, choose PDF, save it to your Google Drive
  4. Click EXPORT SPREADSHEETS
  5. PRINT EVERYTHING

 

10 Timeless Tips for Giving Successful Presentations

GOAL: FINISH your business plan with www.sba.gov

  1. Go to https://www.sba.gov/tools/business-plan/1 and log in
  2. DO THIS TODAY!!! You can always come back and change things later. I want to see what you have. EVERYONE needs to do this TODAY:
    1. Click PREVIEW, choose PDF, save it to your Google Drive
    2. Click EXPORT SPREADSHEETS
    3. PRINT EVERYTHING

EVERYONE PRINT THE ABOVE TODAY!!!!

 

7 Habits of Highly Effective People 

GOAL: Before you leave today you will start to format your business plan.

HERE IS HOW IT WILL BE SCORED:

 

Network Marketing

WEEK OF CODE

GOAL: Before you leave today you will start to format your business plan.

HERE IS HOW IT WILL BE SCORED:

This is a work in progress. Do as much as you can now. This IS your FINAL PROJECT that you will present to the class during the last week of this class!! (and potentially to Mr. Meyer, Mr. Recker, and other business people)

Work on Your Website (the presentation will be your FINAL PROJECT at the end of the semester–right now it is a work in progress.)

GOAL: To analyze your business idea and/or compare it to your competition to show that you are prepared to face your competitors and that your business idea has a competitive advantage.

SWOT ANALYSIS

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

GOAL: To analyze your business idea and determine your break even point.

BREAK EVEN ANALYSIS

 

  1. Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:
  2. Watch this YouTube video: Breakeven Analysis – Charts
  3. Go to the following website and read for understanding: Break Even Analysis
  4. How to Calculate Variable Cost
  5. As you will notice, making a profit is necessary for a business idea to become an opportunity.
  6. Using the BE Calculator on the Break Even Analysis website create a break-even analysis for a lemonade stand given the following information:
    1. Fixed Costs = $50
    2. Variable Unit Costs = $0.10
    3. Expected Unit Sales = 80
    4. Selling Price per Unit = $1.00
    5. What is the BE Point?
    6. After completing a BE analysis with the above information, change the Selling Price per Unit to $2.
    7. What is the new BE point? What is the highest Sales Revenue?
    8. Try this: Change the Selling Price per Unit back to $1 and change the Expect Unit Sales to 50
    9. What is the BE point? What is the highest Sales Revenue?
    10. Change the Expected Unit Sales back to 80 and change the variable unit costs to $.20
    11. What is the BE point? What is the highest Sales Revenue?
    12. Change the Variable Unit Cost back to $.10 and change the Expected Unit Sales to 280.
    13. What is the BE point? What is the highest Sales Revenue?
    14. SHARE THIS WITH ME: Write a summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. What is the break even point for YOUR OWN BUSINESS? Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us
  7. IF TIME PERMITS: work on your business plan:

HERE IS HOW IT WILL BE SCORED:

GOAL: Before you leave today you will start to format your business plan.

 

HERE IS HOW IT WILL BE SCORED:

TEST GRADE: Include your analysis’ in the appendix of your lesson plan. Follow these steps:

  1. Go to zamzar.com
  2. Choose your business plan–you downloaded it as a PDF from the sba.gov website
  3. Convert it do a .docx document
  4. Type in your email address
  5. Choose convert or ok
  6. Go to your email, click the link, and download it.
  7. Open your business plan that is now a Word file.
  8. Include the following at the end in the Appendix section:
    1. SWOT analysis
    2. Break Even analysis
    3. ROI analysis (extra credit–the following will help)

GOAL: Before you leave today you will know how to determine return on investment.

WATCH THIS

Perform a ROI for your business and include it in your Appendix of your business plan.

RETURN ON INVESTMENT

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total Profit

233

268

229

214

215

1,159

Total Investment Costs

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Profit-Investment Costs)/Investment Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be a good investment?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

 

GOAL: Before you leave today you will continue to format your business plan.

HERE IS HOW IT WILL BE SCORED:

Put Page Numbers & Your Business Name on Each Page of Your Plan:

  1. Open your business plan in Word
  2. Insert–Page Number–Top–Plain Number 3–Type the name of your business and hit space bar 1 time

Change Your Margins

  1. Page Layout–Margins–Normal

Focus On Your Marketing Section:

GOAL: Before you leave today you will know the meaning of the 4 P’s of Marketing, Market Penetration, Market Research.

  1. WHAT IS MARKETING?
  2. READ THIS ANSWER THESE QUESTIONS IN A GOOGLE DOC SHARED WITH ME (ANSWER THE QUESTIONS FOR EXTRA CREDIT)
  3. Market_Research_Analysis–Download, open, save it to your Google Drive & READ IT!!
  4. Market_Penetration–Download, open, save it to your Google Drive & READ IT!!
  5. Use the resources in the PowerPoint presentations (websites) to work on your Marketing Section.

GOAL: Before you leave today you will start to format your business plan.

HERE IS HOW IT WILL BE SCORED:

This is a work in progress. Do as much as you can now. This IS your FINAL PROJECT that you will present to the class during the last week of this class!! (and potentially to Mr. Meyer, Mr. Recker, and other business people)

4 P-s Activity

4 P’s of Marketing

 

Watch this YouTube Video describing the 4 P’s of Marketing:

Marketing: A New Look at the 4Ps of Marketing–WATCH THIS

Assignment:

Individually or in teams, develop an effective marketing mix for a brushless car wash in your neighborhood including product, price, promotion and placement.

Work on the Marketing Section of your business plan

 

GOAL: Before you leave today you will continue to work on your business plan.

HERE IS HOW IT WILL BE SCORED:

This is a work in progress. Do as much as you can now. This IS your FINAL PROJECT that you will present to the class during the last week of this class!! (and potentially to Mr. Meyer, Mr. Recker, and other business people)

Work on Your Presentation (the presentation will be your FINAL PROJECT at the end of the semester–right now it is a work in progress.)

What is Marketing?

Marketing & Brand Strategy

Viral Marketing

Positively Outrageous Customer Service

Seinfeld Bad Customer Service

Market Research & Marketing Unit

INTRODUCTION TO MARKETING RESEARCH

 

Using the following resource, read about Puerto Vallarta Auto, and discover appropriate market research methods for identifying who your customers are.

Activity Link

http://www.marketingteacher.com/the-six-living-generations-in-america/

Note* There are three links at the top of the page (Lesson, Exercise, Answer).

  1. Read and do the LESSON tab first
  2. Next, read and do the EXERCISE tab–type your responses in a Google Doc shared with me
  3. Last–compare your ideas/responses with the ANSWER tab

Work on your Marketing Plan

 

GOAL: Before you leave today you will continue to work on your business plan.

HERE IS HOW IT WILL BE SCORED:

This is a work in progress. Do as much as you can now. This IS your FINAL PROJECT that you will present to the class during the last week of this class!! (and potentially to Mr. Meyer, Mr. Recker, and other business people)

Work on Your Presentation (the presentation will be your FINAL PROJECT at the end of the semester–right now it is a work in progress.)

Activity: Competitive Matrix/Business Demographic Evaluation

How does your business compare?

GOAL: You will evaluate and compare your business opportunity with the competition.

Objective: To learn how to compare the strengths and weaknesses of your business and to identify your business’ competitive advantage.

Instructions:

Get a handout. You should compare your business to your competitors.  There are a couple of ways that you can use the handout/chart:

  1. You can place X’s (or determine rank) in the boxes identifying strengths of your business and your competitor’s businesses.
  2. You can write specific information about your business and your competitor’s businesses into the boxes and then compare.

Take a look at these established products or services and evaluate the demographic group these products or services try to reach–HANDOUT

 

 

 

 

 

 

THE FOLLOWING IS THE TEST FOR THE MARKETING UNIT

Activity: Competitive Matrix/Business Demographic Evaluation

How does your business compare?

GOAL: You will evaluate and compare your business opportunity with the competition.

Objective: To learn how to compare the strengths and weaknesses of your business and to identify your business’ competitive advantage.

Instructions:

Get a handout. You should compare your business to your competitors.  There are a couple of ways that you can use the handout/chart:

  1. You can place X’s (or determine rank) in the boxes identifying strengths of your business and your competitor’s businesses.
  2. You can write specific information about your business and your competitor’s businesses into the boxes and then compare.

Take a look at these established products or services and evaluate the demographic group these products or services try to reach–HANDOUT

 

GOAL: Before you leave today you will continue to work on your business plan.

HERE IS HOW IT WILL BE SCORED:

This is a work in progress. Do as much as you can now. This IS your FINAL PROJECT that you will present to the class during the last week of this class!! (and potentially to Mr. Meyer, Mr. Recker, and other business people)

FINISH THE MARKETING PORTION OF YOUR BUSINESS PLAN–THIS IS YOUR TEST FOR THE MARKETING SECTION–PRINT IT & HAND IT IN

 

GOAL: YOU WILL CONTINUE TO WORK ON YOUR BUSINESS PLAN

HERE IS HOW IT WILL BE SCORED:

FOCUS ON YOUR FINANCE SECTION–THE FOLLOWING IS FOR YOUR INFORMATION TO BEEF UP YOUR FINANCIAL SECTION:

  1. Finance–Read it and save it as a reference
  2. WATCH THIS
  3. START UP COSTS
  4. Read this–www.sba.gov
  5. Start Up Costs To Consider:
    1. Organization Costs (i.e. attorney fees, registration, etc.)
    2. Equipment
    3. Facility Costs (i.e. lease vs. purchase)
    4. Operating (i.e. deposits, development, advertising)

GOAL: YOU WILL CONTINUE TO WORK ON YOUR BUSINESS PLAN

HERE IS HOW IT WILL BE SCORED:

FOCUS ON YOUR FINANCE SECTION–DO THE FOLLOWING TO HELP YOU FINISH YOUR FINANCIAL SECTION:

  1. HOW TO CREATE AN INCOME STATEMENT–Actually CREATE the Income Statement for your business using an Excel or Google spreadsheet  with the video–get with your partner, if you have one.Watch the following instructional videos for balance sheet, income statement, and cash flow.
  2. HOW TO CREATE A BALANCE SHEET IN EXCEL–Actually CREATE the Balance Sheet for your business using an Excel or Google spreadsheet with the video–get with your partner, if you have one.
  3. CASH FLOW STATEMENT–WATCH THIS & use this cash flow template (download it to your Google Drive on your machine) & complete it–delete & insert, if needed.
  4. ADD ALL THREE TO YOUR FINANCIAL SECTION OF YOUR BUSINESS PLAN

In a Google Doc shared with me, tell me what you accomplished today and what questions you have.

COMPLETE THE BUSINESS PLAN TODAY–You will print everything next class.

Format the file similar to the following:

  1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
  2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

THE FOLLOWING IS FOR YOUR INFORMATION. YOU MAY WANT TO INCLUDE IT IN YOUR APPENDIX:

  1. Business_Operations–Save this. Read it.
  2. Watch this
  3. Read this & Do this: Entity
  4. DO THIS: Organizational_Chart

In a Google Doc shared with me, tell me what you accomplished today and what questions you have.

en 1 class to make final preparations before presenting to a panel of judges on the last day of the class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: PRINT TODAY

  1. Format the file similar to the following:
    1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
    2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf
  2. PROOFREAD!!!
  3. EXTRA CREDIT–Add your resume to the appendix……(you learn to do this in Business Computer Applications I)

In a Google Doc shared with me, tell me what you accomplished today and what questions you have.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: Before you leave today you will begin to prepare your business plan presentation.

Pepperdine University Quick Pitch Competition

High School Quick Pitch Competition

WRITE your Quick Pitch–You will practice presenting it next class.  YOU WILL USE YOUR QUICK PITCH WHEN YOU PRESENT YOUR BUSINESS WEBSITE. At a minimum, you must address the following in your quick pitch:

  1. Prep for the elevator pitch! You will critique your classmates. Here is how you will be scored by your classmates:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

In a Google Doc shared with me, tell me what you accomplished today and what questions you have.

GOAL: Before you leave today you will have the opportunity to practice your presentation to the class. You will make final preparations next class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GIVE your Quick Pitch–YOU WILL USE YOUR QUICK PITCH WHEN YOU PRESENT YOUR BUSINESS WEBSITE NEXT CLASS. At a minimum, you must address the following in your quick pitch:

  1. Prep for the elevator pitch! Your will critique your classmates. Everyone needs to create a new Google Doc named QUICK PITCH CRITIQUES–YOUR NAME. When your classmates present their quick pitch, please type their name in the Google Doc and rate their ptich based on the 5 criteria below:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

In a Google Doc shared with me, tell me what you accomplished today and what questions you have.

PLEASE TALK TO MR. JESS TO ENROLL IN ONE OR MORE OF THE FOLLOWING COURSES:

  1. Business Computer Applications I–college credit
  2. Web Apps & Coding–Google Suite, online tools/apps, coding for 3-D animation & games
  3. Advanced Computer Applications–college credit
  4. Multimedia Marketing–Marketing basics, Photoshop, Illustrator, InDesign, ……
  5. Web Design–college credit
  6. Intro to Business (21st Century Business I)–Basic business concepts & how to own your own business
  7. Personal Finance (21st Century Business II)–Investing, Banking, Stocks, Bonds, etc.–all through an online simulation
  8. Accounting

GOAL: Before you leave today you will finish preparing your business plan presentation. You will present to a panel of judges next class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

Tweek your Quick Pitch. At a minimum, you must address the following in your quick pitch:

  1. You will critique your classmates. Here is how you will be scored by your classmates:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

GOAL: Understanding the purpose of a business plan.

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint–DOWNLOAD it and READ it
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business–watch this
  4. Have a Plan Stan–watch this
  5. Identify parts of the business plan–Business Plan Graphic Organizer–GET IT FROM YOUR TEACHER
  6. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  7. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  8. Share your evaluation with the class.
  9. Get with a partner and repeat steps 1 – 3 above AND turn in your completed evaluations with your name on it.
  10. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.

 

GOAL: Understanding the purpose of a business plan.

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint–DOWNLOAD it and READ it
  2. FINISH: Identify parts of the business plan–Business Plan Graphic Organizer–HAND IT IN
  3. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  4. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  5. Share your evaluation with the class.
  6. Get with a partner and repeat steps 1 – 3 above AND turn in your completed evaluations with your name on it.
  7. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.

 

GOAL: Write a business plan

ONLINE BUSINESS PLAN–Fill out as much as you can and as detailed as you can!! The more thought & work you put in this today, the easier it will be for you next class!!

  1. What is the main purpose of a business plan? What are the main parts of a business plan? Which part of the business plan should you complete last?
  2. Turn in the business plan evaluation you finished independently.
  3. Get with a partner and repeat steps 1 – 2 below AND turn in your completed evaluations with your name on it.
    1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
    2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  4. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.
  5. ONLINE BUSINESS PLAN–Fill out as much as you can and as detailed as you can!! The more thought & work you put in this today, the easier it will be for you next class!!

 

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • First and Last Name
  • Name of your Business
  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

 

 

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR PITCH TOMORROW

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

 

FINISH YOUR PITCH & PRACTICE BY GIVING YOUR PITCH TO THE CLASS:

  1. 1-3 minutes
  2. Get the audience’s attention
  3. Paint the picture of how your business will operate
  4. Tell your audience what to do in the end–$$$$–detailed breakdown–ballpark figures

-Give Your Pitch

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING TODAY!!

Work on Your Presentation (the presentation will be your FINAL PROJECT at the end of the semester–right now it is a work in progress.)

OR

Work on your business plan

 

 

Monitoring & Exiting Strategy

MonitorandExit

Exit Strategy

After researching the Internet, respond to the questions below in a shared Google Doc with me:

  1. List a minimum of three (3) of the most common mistakes of entrepreneurs regarding exit strategies.
  2. List a minimum of three (3) ways an entrepreneur might avoid the mistakes listed above.
  3. What are five (5) of the most common exit strategies and identify the advantages and disadvantages of each?

Acquisition

  • Advantages:
  • Disadvantages:

Sale of Company

  • Advantages:
  • Disadvantages:

Merger

  • Advantages:
  • Disadvantages:

Buy-Out

  • Advantages:
  • Disadvantages:

Franchise

  • Advantages:
  • Disadvantages:

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Join the Edmodo group: q9i4af
  2. Entrepreneurs Can Change the World–watch this
  3. Go to BizInnovator
  4. Choose to download the PowerPoint presentation.
    1. It will automatically download it to the Downloads folder.
    2. Click it to open it
    3. Save it to the Intro to Business folder (you will need to make a new folder) on your Google Drive on your machine.
    4. Read the PowerPoint
    5. Create a new Word file named OVERVIEW on your OneDrive to share with me (tracy_weber@hotmail.com) and answer the discussion questions on the last slide. We will discuss them.
  5. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  6. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  7. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  8. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  9. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Open your OVERVIEW file in which you answer the discussion questions on the last slide. We will discuss them.
  2. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  3. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  4. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  5. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  6. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

GOAL: By the completion of this unit you will complete a successful business pitch with a group of 3. Today you will learn about business pitches.

  1. Read together: Elevator Pitch Essentials 101
  2. Read Elevator Pitch 101 together
  3. Watch this: The Elevator Pitch
  4. Watch together: 6 Elevator Pitches for the 21st Century
  5. Read How to Give an Elevator Pitch
  6. Read 12 Tips for a Winning Elevator Pitch
  7. Watch these sample pitches:
    1. Sample #1
    2. Sample #2
    3. Sample #3
    4. Sample #4

PRACTICE!!

  1. Get with a partner.
  2. Think of a problem or need or want at school.
  3. Create a pitch for that problem or need or want at school. You are creating it for the school board
  4. PITCH IT!!

Scenario: You have been hired by the Tech Math class as a marketing elevator pitch specialist. It is your job to convince the Bellevue Community School Board to purchase materials needed to allow the construction of recycle bins. These recycle bins will be placed throughout the entire school district. The bins could also be used by our Bellevue and surrounding communities. Here is a picture of what the bin will look like:

Recycle BinRIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!

GOAL: Vote on a recycle bin proposal and create a pitch for the athletic booster fundraising cards.

  1. FINALISTS: present your fine-tuned pitches!! (Chaz’s group, Anna’s group, Kaleb’s group)

Scenario: You have been hired by the Bellevue Athletic Boosters as a marketing elevator pitch specialist. It is your job to convince the consumers in our community to purchase an athletic booster fundraising card. RIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!
  7. THE GROUP TO SELL THE MOST CARDS BEFORE THURSDAY WILL WIN!!!!

How many cards did your team sell?

GOAL: Before you leave today you will have the opportunity to learn about how “entrepreneurial” you are and you will have the opportunity to research current and past entrepreneurs.

  1. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  2. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  3. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  4. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?

Profile of an Entrepreneur:

  1. Step 1:
    1. Find an online article/story about an entrepreneur using one of the following sources:
      1. Entrepreneur (http://www.entrepreneur.com/)
      2. Inc. (http://www.inc.com/)
      3. Fortune (http://money.cnn.com/magazines/fortune/)
      4. Another business publication of your choice
    2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
  2. Step 2:
    1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
    2. Copy and paste the URL’s of all the sites you used.
    3. OPTIONAL: Provide video clips in the Google Doc.
    4. Be prepared to orally share with the class.
  3. Step 3:
    1. Share your finds with the class.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      1. ALTERNATIVES:
        1. Poster/Infographic
        2. Website
        3. Video/Powtoon
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. Begin the article today and contact the person you would like to interview TODAY–RIGHT NOW–to set up an interview time. You will finish writing your article NEXT CLASS, including your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

 

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process. You will also be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: IDEO

WATCH: Russell Simmons on Innovation and Business

Watch these videos: A Day Made of Glass 1 & 2

DO:

INNOVATION & CREATIVITY

Wuzzlers–Let’s do these together!! Think outside the box!!

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

“Redesign the Gift Giving Experience”DESIGN THINKING USING EMPATHY:


Complete Design Thinking Activity with partner:

  1. Get the print out
  2. Get with a partner
  3. Get sharpies
  4. Get arts & supplies
  5. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and start the video. Stop the video before the debriefing.

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video. Stop the video before the debriefing.

 

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video.

Design Thinking DeBrief

  1. What is the importance of the Discovery phase in Entrepreneurship?
  2. How do innovation activities facilitate Discovery?
  3. How would you change the Design Thinking activity for your business?
  4. How do you feel about the time constraints in the DT activity?
  5. What were some struggles you had? Successes?
  6. How did this change your way of thinking about design?

 

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

Ted.com “Ingenious” Reaction Paper

Step 1:

Go to Ted.

Step 2:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

 

 

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

After the Design Thinking Process:

  1. Go to www.bizinnovator.com
  2. Click on BIZMODEL
  3. Work on the PRODUCT/SERVICE PLAN for your business

 

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.
  4. Play against people in this class!

 

ROCKWELL FIELD TRIP

In a NEW Google Doc shared with me, write a thank you to Rockwell for the time they took out of their schedule to meet with us and give us a tour. Please mention at least 1 specific idea you got or learned from the tour. Use good writing skills! This will go in a thank you note to them!!! Also, please let me know of a local service business and/or retail business you would like to visit in Bellevue, Maquoketa, Dubuque, or any other neighboring community.

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! With a Team of FOUR!!!

 

 

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE
    1. Mark Zuckerberg’s Facebook Story Part 1!
  2. Why did you learn from the video clip and article today that you can use in your life either now or in the future?
ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.2

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

 

Read the following story about Opportunity Recognition:

A STORY ABOUT OPPORTUNITY

 

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?

Day 2–3 New Business Idea

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

 

SWOT ANALYSIS

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

 

BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit = $1.00

What is the BE Point?

After completing a BE analysis with the above information, change the Selling Price per Unit to $2.

What is the new BE point? What is the highest Sales Revenue?

Try this: Change the Selling Price per Unit back to $1 and change the Expect Unit Sales to 50

What is the BE point? What is the highest Sales Revenue?

Change the Expected Unit Sales back to 80 and change the variable unit costs to $.20

What is the BE point? What is the highest Sales Revenue?

Change the Variable Unit Cost back to $.10 and change the Expected Unit Sales to 280.

What is the BE point? What is the highest Sales Revenue?

 

Write a summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

 

GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

  1. Go to https://www.sba.gov/tools/business-plan/1 and log in
  2. When you see a green check mark next to MARKETING & SALES, click FINANCIAL PROJECTIONS
  3. Click PREVIEW, choose PDF, save it to your Google Drive
  4. Click EXPORT SPREADSHEETS
  5. PRINT EVERYTHING

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Join the Edmodo group: q9i4af
  2. Entrepreneurs Can Change the World–watch this
  3. Go to BizInnovator
  4. Choose to download the PowerPoint presentation.
    1. It will automatically download it to the Downloads folder.
    2. Click it to open it
    3. Save it to the Intro to Business folder (you will need to make a new folder) on your Google Drive on your machine.
    4. Read the PowerPoint
    5. Create a new Word file named OVERVIEW on your OneDrive to share with me (tracy_weber@hotmail.com) and answer the discussion questions on the last slide. We will discuss them.
  5. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  6. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  7. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  8. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  9. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Open your OVERVIEW file in which you answer the discussion questions on the last slide. We will discuss them.
  2. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  3. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  4. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  5. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  6. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

GOAL: By the completion of this unit you will complete a successful business pitch with a group of 3. Today you will learn about business pitches.

  1. Read together: Elevator Pitch Essentials 101
  2. Read Elevator Pitch 101 together
  3. Watch this: The Elevator Pitch
  4. Watch together: 6 Elevator Pitches for the 21st Century
  5. Read How to Give an Elevator Pitch
  6. Read 12 Tips for a Winning Elevator Pitch
  7. Watch these sample pitches:
    1. Sample #1
    2. Sample #2
    3. Sample #3
    4. Sample #4

PRACTICE!!

  1. Get with a partner.
  2. Think of a problem or need or want at school.
  3. Create a pitch for that problem or need or want at school. You are creating it for the school board
  4. PITCH IT!!

Scenario: You have been hired by the Tech Math class as a marketing elevator pitch specialist. It is your job to convince the Bellevue Community School Board to purchase materials needed to allow the construction of recycle bins. These recycle bins will be placed throughout the entire school district. The bins could also be used by our Bellevue and surrounding communities. Here is a picture of what the bin will look like:

Recycle BinRIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!

GOAL: Vote on a recycle bin proposal and create a pitch for the athletic booster fundraising cards.

  1. FINALISTS: present your fine-tuned pitches!! (Chaz’s group, Anna’s group, Kaleb’s group)

Scenario: You have been hired by the Bellevue Athletic Boosters as a marketing elevator pitch specialist. It is your job to convince the consumers in our community to purchase an athletic booster fundraising card. RIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!
  7. THE GROUP TO SELL THE MOST CARDS BEFORE THURSDAY WILL WIN!!!!

How many cards did your team sell?

GOAL: Before you leave today you will have the opportunity to learn about how “entrepreneurial” you are and you will have the opportunity to research current and past entrepreneurs.

  1. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  2. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  3. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  4. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?

Profile of an Entrepreneur:

  1. Step 1:
    1. Find an online article/story about an entrepreneur using one of the following sources:
      1. Entrepreneur (http://www.entrepreneur.com/)
      2. Inc. (http://www.inc.com/)
      3. Fortune (http://money.cnn.com/magazines/fortune/)
      4. Another business publication of your choice
    2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
  2. Step 2:
    1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
    2. Copy and paste the URL’s of all the sites you used.
    3. OPTIONAL: Provide video clips in the Google Doc.
    4. Be prepared to orally share with the class.
  3. Step 3:
    1. Share your finds with the class.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      1. ALTERNATIVES:
        1. Poster/Infographic
        2. Website
        3. Video/Powtoon
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. Begin the article today and contact the person you would like to interview TODAY–RIGHT NOW–to set up an interview time. You will finish writing your article NEXT CLASS, including your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

 

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process. You will also be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: IDEO

WATCH: Russell Simmons on Innovation and Business

Watch these videos: A Day Made of Glass 1 & 2

DO:

INNOVATION & CREATIVITY

Wuzzlers–Let’s do these together!! Think outside the box!!

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

“Redesign the Gift Giving Experience”DESIGN THINKING USING EMPATHY:


Complete Design Thinking Activity with partner:

  1. Get the print out
  2. Get with a partner
  3. Get sharpies
  4. Get arts & supplies
  5. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and start the video. Stop the video before the debriefing.

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video. Stop the video before the debriefing.

 

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video.

Design Thinking DeBrief

  1. What is the importance of the Discovery phase in Entrepreneurship?
  2. How do innovation activities facilitate Discovery?
  3. How would you change the Design Thinking activity for your business?
  4. How do you feel about the time constraints in the DT activity?
  5. What were some struggles you had? Successes?
  6. How did this change your way of thinking about design?

 

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

Ted.com “Ingenious” Reaction Paper

Step 1:

Go to Ted.

Step 2:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

 

 

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

After the Design Thinking Process:

  1. Go to www.bizinnovator.com
  2. Click on BIZMODEL
  3. Work on the PRODUCT/SERVICE PLAN for your business

 

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.
  4. Play against people in this class!

 

ROCKWELL FIELD TRIP

In a NEW Google Doc shared with me, write a thank you to Rockwell for the time they took out of their schedule to meet with us and give us a tour. Please mention at least 1 specific idea you got or learned from the tour. Use good writing skills! This will go in a thank you note to them!!! Also, please let me know of a local service business and/or retail business you would like to visit in Bellevue, Maquoketa, Dubuque, or any other neighboring community.

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! With a Team of FOUR!!!

 

 

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE
    1. Mark Zuckerberg’s Facebook Story Part 1!
  2. Why did you learn from the video clip and article today that you can use in your life either now or in the future?
ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.2

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

 

Read the following story about Opportunity Recognition:

A STORY ABOUT OPPORTUNITY

 

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?

Day 2–3 New Business Idea

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

 

SWOT ANALYSIS

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

 

BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit = $1.00

What is the BE Point?

After completing a BE analysis with the above information, change the Selling Price per Unit to $2.

What is the new BE point? What is the highest Sales Revenue?

Try this: Change the Selling Price per Unit back to $1 and change the Expect Unit Sales to 50

What is the BE point? What is the highest Sales Revenue?

Change the Expected Unit Sales back to 80 and change the variable unit costs to $.20

What is the BE point? What is the highest Sales Revenue?

Change the Variable Unit Cost back to $.10 and change the Expected Unit Sales to 280.

What is the BE point? What is the highest Sales Revenue?

 

Write a summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

WATCH THIS

RETURN ON INVESTMENT

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

 

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total inflows

233

268

229

214

215

1,159

Total outflows

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Gains-Costs)/Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be typical of a new business?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

TAKE HOME TEST

INTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

What is Intellectual Property?

What is the Risk?

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

99 Designs

Real Business

Plagiarism Today

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audio cassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not)

YOUR ASSESSMENT FOR THE OPPORTUNITY RECOGNITION UNIT–Completed business model canvas & suggestions from an entrepreneur using interviews or Zoom

Business Model Canvas
• Enroll in the course “How to Build a Startup” at Udacity.com:https://www.udacity.com/course/ep245

Watch Lesson 1: What We Now Know (11 short videos, total time 21:53)

Watch Lesson 1.5A: Business Models and Customer Discovery (11 short videos, total time 9:85)

• Read pages 14-49 in Business Model Generation by Osterwalder – uploaded as pdf to Edmodo.
• Create Your Own Business Model Canvas–Who are “the customers,” why would they “buy” from you, what will you offer them and how will you deliver it? For best results, create your canvas on this simple free interactive tool. http://canvanizer.com/choose-canvas Please use the “business” canvas (yellow)!

Save it as a PDF & share it with me.

Print it using legal size paper.

OR

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

 

GUEST SPEAKER–Nick Huenke

 

 

 

FINISH!!!

YOUR ASSESSMENT FOR THE OPPORTUNITY RECOGNITION UNIT–Completed business model canvas & suggestions from an entrepreneur using interviews or Zoom

  1. Create Your Own Business Model Canvas–Who are “the customers,” why would they “buy” from you, what will you offer them and how will you deliver it? For best results, create your canvas on this simple free interactive tool. http://canvanizer.com/choose-canvas Please use the “business” canvas (yellow)!
  2. When you are done:
    1. Click SHARE CANVAS in the upper right corner of your screen
    2. Click GET CANVAS LINKS
    3. Copy the READ ONLY VERSION
    4. Email the read only version to me.

 

GOAL: Understanding the purpose of a business plan.

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint–DOWNLOAD it and READ it
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business–watch this
  4. Have a Plan Stan–watch this
  5. Identify parts of the business plan–Business Plan Graphic Organizer–GET IT FROM YOUR TEACHER
  6. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  7. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  8. Share your evaluation with the class.
  9. Get with a partner and repeat steps 1 – 3 above AND turn in your completed evaluations with your name on it.
  10. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.

GOAL: Understanding the purpose of a business plan.

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint–DOWNLOAD it and READ it
  2. FINISH: Identify parts of the business plan–Business Plan Graphic Organizer–HAND IT IN
  3. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  4. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  5. Share your evaluation with the class.
  6. Get with a partner and repeat steps 1 – 3 above AND turn in your completed evaluations with your name on it.
  7. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.

GOAL: Write a business plan

ONLINE BUSINESS PLAN–Fill out as much as you can and as detailed as you can!! The more thought & work you put in this today, the easier it will be for you next class!!

  1. What is the main purpose of a business plan? What are the main parts of a business plan? Which part of the business plan should you complete last?
  2. Turn in the business plan evaluation you finished independently.
  3. Get with a partner and repeat steps 1 – 2 below AND turn in your completed evaluations with your name on it.
    1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
    2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  4. EXTRA CREDIT: After choosing a business plan from the Sample Business Plans, role play the entrepreneur.  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch. DO THIS NEXT CLASS.
  5. ONLINE BUSINESS PLAN–Fill out as much as you can and as detailed as you can!! The more thought & work you put in this today, the easier it will be for you next class!!

 

GUEST SPEAKER–STEVE NEMMERS

GET PERMISSION SLIP FROM YOUR TEACHER FOR OUR FIELD TRIP

PERMISSION SLIP FOR FIELD TRIP!!!

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • First and Last Name
  • Name of your Business
  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

 

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • First and Last Name
  • Name of your Business
  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

 

 

 

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR PITCH TOMORROW

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

 

FINISH YOUR PITCH & PRACTICE BY GIVING YOUR PITCH TO THE CLASS:

  1. 1-3 minutes
  2. Get the audience’s attention
  3. Paint the picture of how your business will operate
  4. Tell your audience what to do in the end–$$$$–detailed breakdown–ballpark figures

 

-Give Your Pitch

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING TODAY!!

Work on Your Presentation (the presentation will be your FINAL PROJECT at the end of the semester–right now it is a work in progress.)

OR

Work on Bizinnovator

 

Market Research & Marketing Unit

GOAL: Before you leave today you will know the meaning of the 4 P’s of Marketing, Market Penetration, Market Research.

WATCH THIS & TYPE YOUR REACTION IN A GOOGLE DOC

READ THIS ANSWER THESE QUESTIONS IN A GOOGLE DOC SHARED WITH ME

 

Market_Research_Analysis–Download, open, save it to your Google Drive & READ IT!!

Market_Penetration–Download, open, save it to your Google Drive & READ IT!!

Use the resources in the PowerPoint presentations (websites) to work on your Marketing Section of bizinnovator.

4 P-s Activity

4 P’s of Marketing

 

Watch this YouTube Video describing the 4 P’s of Marketing:

Marketing: A New Look at the 4Ps of Marketing–WATCH THIS

Assignment:

Individually or in teams, develop an effective marketing mix for a brushless car wash in your neighborhood including product, price, promotion and placement.

Work on the Marketing Section of you business plan at Bizinnovator

 

What is Marketing?

Marketing & Brand Strategy

Viral Marketing

Positively Outrageous Customer Service

Seinfeld Bad Customer Service

 

Market Research & Marketing Unit

INTRODUCTION TO MARKETING RESEARCH

 

Using the following resource, read about Puerto Vallarta Auto, and discover appropriate market research methods for identifying who your customers are.

Activity Link

http://www.marketingteacher.com/the-six-living-generations-in-america/

Note* There are three links at the top of the page (Lesson, Exercise, Answer).

  1. Read and do the LESSON tab first
  2. Next, read and do the EXERCISE tab–type your responses in a Google Doc shared with me
  3. Last–compare your ideas/responses with the ANSWER tab

Work on your Marketing Plan in Bizinnovator

FINISH THE MARKETING PORTION OF YOUR BUSINESS PLAN–THIS IS YOUR TEST FOR THE MARKETING SECTION

 

 

 

THE FOLLOWING IS THE TEST FOR THE MARKETING UNIT

Activity: Competitive Matrix/Business Demographic Evaluation

How does your business compare?

GOAL: You will evaluate and compare your business opportunity with the competition.

Objective: To learn how to compare the strengths and weaknesses of your business and to identify your business’ competitive advantage.

Instructions:

Get a handout. You should compare your business to your competitors.  There are a couple of ways that you can use the handout/chart:

  1. You can place X’s (or determine rank) in the boxes identifying strengths of your business and your competitor’s businesses.
  2. You can write specific information about your business and your competitor’s businesses into the boxes and then compare.

Take a look at these established products or services and evaluate the demographic group these products or services try to reach–HANDOUT

 

Entrepreneurial Finance

Finance–Read it and save it as a reference

WATCH THIS

START UP COSTS

Read this–www.sba.gov

Estimating Start Up Costs

 

Start Up Costs To Consider:

  1. Organization Costs (i.e. attorney fees, registration, etc.)
  2. Equipment
  3. Facility Costs (i.e. lease vs. purchase)
  4. Operating (i.e. deposits, development, advertising)
  5. Other

Get the handout from your teacher.

COMPLETE THE START UP COSTS SECTION IN BIZINNOVATOR

 

Entrepreneurial Finance

THIS IS YOUR TEST FOR THE FINANCIAL UNIT

Understanding Income Statement, Balance Sheet, and Cash Flow Statement

 

Watch the following instructional videos for balance sheet, income statement, and cash flow.

HOW TO CREATE AN INCOME STATEMENT–Actually CREATE the Income Statement for your business using an Excel spreadsheet with the video–get with your partner, if you have one.

HOW TO CREATE A BALANCE SHEET IN EXCEL–Actually CREATE the Balance Sheet for your business using an Excel spreadsheet with the video–get with your partner, if you have one.

CASH FLOW STATEMENT–WATCH THIS & use this cash flow template (download it to your Google Drive on your machine) & complete it–delete & insert, if needed.

 

PRINT (to HP Officejet Pro 8600 (Network)) & UPLOAD ALL 3 TO www.bizinnovator.com

DUE TODAY!!!

Bizinnovator–Financial Part–Copy & Paste it into a Google Doc–Fill it out–Share it with me.

GOAL: Before you leave today you will know about the different types of business ownership, business ethics, and business organization.

  1. Business_Operations–Save this. Read it.
  2. Watch this
  3. Read this & Do this: Entity
  4. DO THIS: Organizational_Chart–PRINT IT AND TURN IT IN.

 

Monitoring & Exiting Strategy

MonitorandExit

Exit Strategy

After researching the Internet, respond to the questions below in a shared Google Doc with me:

  1. List a minimum of three (3) of the most common mistakes of entrepreneurs regarding exit strategies.
  2. List a minimum of three (3) ways an entrepreneur might avoid the mistakes listed above.
  3. What are five (5) of the most common exit strategies and identify the advantages and disadvantages of each?

Acquisition

  • Advantages:
  • Disadvantages:

Sale of Company

  • Advantages:
  • Disadvantages:

Merger

  • Advantages:
  • Disadvantages:

Buy-Out

  • Advantages:
  • Disadvantages:

Franchise

  • Advantages:
  • Disadvantages:

 

YOU WILL HAVE TODAY AND THE NEXT 3 CLASSES TO FINISH YOUR BUSINESS PLAN

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

Here is an example of a good presentation: https://www.youtube.com/watch?v=PdA1G_5z_nE&feature=youtu.be&list=PLD303A50AB5ACB0CE

GOAL: Begin to finalize your business plan by getting all of your information into 1 file.

  1. Copy & paste all information from Bizinnovator into 1 file in Word–NOT A GOOGLE DOC!!
    1. Send the file to me as an email attachment.
  2. Format the file similar to the following:
    1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
    2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf

YOU HAVE TODAY AND THE NEXT 2 CLASSES TO FINISH YOUR BUSINESS PLAN

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: Continue to finalize your business plan by getting all of your information into 1 file.

  1. Starting today, Mrs. Weber will meet with each of you to help you with your plan.
  2. Format the file similar to the following:
    1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
    2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf

 

COMPLETE THE BUSINESS PLAN TODAY–You will print everything next class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: Finish finalizing your business plan by getting all of your information into 1 file.

  1. Meet with Mrs. Weber
  2. Format the file similar to the following:
    1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
    2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf

PRINT EVERYTHING TODAY!! YOU WILL PREPARE TO PRESENT & PRACTICE PRESENTING STARTING NEXT CLASS–You will have 2 classes to prepare & practice to present and then 1 class to make final preparations before presenting to a panel of judges on the last day of the class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: PRINT TODAY

  1. Meet with Mrs. Weber
  2. Format the file similar to the following:
    1. http://www.fbla-pbl.org/files/2814/4609/0398/business_plan_1st.pdf
    2. http://www.fbla-pbl.org/files/3114/4609/0398/business_plan_2nd.pdf
  3. How & what to print:
    1. Print the Business Plan
    2. Print the Income Statement
    3. Print the Balance Sheet
    4. Print the Statement of Cash Flow
    5. EXTRA CREDIT–Print your resume……(you learn to do this in Business Computer Applications I)

 

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

GOAL: Before you leave today you will begin to prepare your business plan presentation.

Pepperdine University Quick Pitch Competition

High School Quick Pitch Competition

WRITE your Quick Pitch–You will practice presenting it next class.  At a minimum, you must address the following in your quick pitch:

  1. Meet with Mrs. Weber
  2. Prep for the elevator pitch! You will critique your classmates. Here is how you will be scored by your classmates:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

 

 

GOAL: Before you leave today you will have the opportunity to practice your presentation to the class. You will make final preparations next class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

Present your Quick Pitch to the class. At a minimum, you must address the following in your quick pitch:

  1. You will critique your classmates. Here is how you will be scored by your classmates:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

 

GOAL: Before you leave today you will finish preparing your business plan presentation. You will present to a panel of judges next class.

BUSINESS PLAN & PRESENTATION: Here is how it will be scored: 

Tweek your Quick Pitch. At a minimum, you must address the following in your quick pitch:

  1. You will critique your classmates. Here is how you will be scored by your classmates:
    1. Idea is well stated–(5 points-it is clearly presented, 1 point-we have no idea what you are talking about)
    2. Is it unique compared to other existing businesses?–(5 points-uniqueness is well stated & understood), 1 point-not unique at all)
    3. Will people want to buy it?–(5 points-it is very clear about who the target market is, 1 point-could be no one, could be everyone, NOT CLEAR)
    4. How will they get started–when, where, how much?–(5 points-it is clear about how/when the business will start, 1 point-not sure when/how it will start)
    5. Overall presentation…….–(5 points-this is a GREAT idea! I want to invest in it!, 1 point-we have no idea what you are talking about)

In addition, make sure you are meeting the requirements in the grading rubric above.

YOUR ASSESSMENT FOR THE OPPORTUNITY RECOGNITION UNIT–Completed business model canvas & suggestions from an entrepreneur using interviews or Zoom

  1. Create Your Own Business Model Canvas–Who are “the customers,” why would they “buy” from you, what will you offer them and how will you deliver it? For best results, create your canvas on this simple free interactive tool. http://canvanizer.com/choose-canvas Please use the “business” canvas (yellow)!
  2. When you are done:
    1. Click SHARE CANVAS in the upper right corner of your screen
    2. Click GET CANVAS LINKS
    3. Copy the READ ONLY VERSION
    4. Email the read only version to me.

 

INTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

What is Intellectual Property?

What is the Risk?

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

99 Designs

Real Business

Plagiarism Today

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audio cassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not)

YOUR ASSESSMENT FOR THE OPPORTUNITY RECOGNITION UNIT–Completed business model canvas & suggestions from an entrepreneur using interviews or Zoom

Business Model Canvas
• Enroll in the course “How to Build a Startup” at Udacity.com:https://www.udacity.com/course/ep245

Watch Lesson 1: What We Now Know (11 short videos, total time 21:53)

Watch Lesson 1.5A: Business Models and Customer Discovery (11 short videos, total time 9:85)

• Read pages 14-49 in Business Model Generation by Osterwalder – uploaded as pdf to Edmodo.
• Create Your Own Business Model Canvas–Who are “the customers,” why would they “buy” from you, what will you offer them and how will you deliver it? For best results, create your canvas on this simple free interactive tool. http://canvanizer.com/choose-canvas Please use the “business” canvas (yellow)!

Save it as a PDF & share it with me.

Print it using legal size paper.

OR

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

GOAL: Before you leave class today you will know what a business plan is and you will begin to have the opportunity to complete your own business plan including designing a logo for your business.

  1. Go to https://www.sba.gov/tools/business-plan/1 and log in
  2. When you see a green check mark next to MARKETING & SALES, click FINANCIAL PROJECTIONS
  3. Click PREVIEW, choose PDF, save it to your Google Drive
  4. Click EXPORT SPREADSHEETS
  5. PRINT EVERYTHING

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Join the Edmodo group: q9i4af
  2. Entrepreneurs Can Change the World–watch this
  3. Go to BizInnovator
  4. Choose to download the PowerPoint presentation.
    1. It will automatically download it to the Downloads folder.
    2. Click it to open it
    3. Save it to the Intro to Business folder (you will need to make a new folder) on your Google Drive on your machine.
    4. Read the PowerPoint
    5. Create a new Word file named OVERVIEW on your OneDrive to share with me (tracy_weber@hotmail.com) and answer the discussion questions on the last slide. We will discuss them.
  5. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  6. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  7. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  8. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  9. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Open your OVERVIEW file in which you answer the discussion questions on the last slide. We will discuss them.
  2. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  3. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  4. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  5. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  6. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

GOAL: By the completion of this unit you will complete a successful business pitch with a group of 3. Today you will learn about business pitches.

  1. Read together: Elevator Pitch Essentials 101
  2. Read Elevator Pitch 101 together
  3. Watch this: The Elevator Pitch
  4. Watch together: 6 Elevator Pitches for the 21st Century
  5. Read How to Give an Elevator Pitch
  6. Read 12 Tips for a Winning Elevator Pitch
  7. Watch these sample pitches:
    1. Sample #1
    2. Sample #2
    3. Sample #3
    4. Sample #4

PRACTICE!!

  1. Get with a partner.
  2. Think of a problem or need or want at school.
  3. Create a pitch for that problem or need or want at school. You are creating it for the school board
  4. PITCH IT!!

Scenario: You have been hired by the Tech Math class as a marketing elevator pitch specialist. It is your job to convince the Bellevue Community School Board to purchase materials needed to allow the construction of recycle bins. These recycle bins will be placed throughout the entire school district. The bins could also be used by our Bellevue and surrounding communities. Here is a picture of what the bin will look like:

Recycle BinRIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!

GOAL: Vote on a recycle bin proposal and create a pitch for the athletic booster fundraising cards.

  1. FINALISTS: present your fine-tuned pitches!! (Chaz’s group, Anna’s group, Kaleb’s group)

Scenario: You have been hired by the Bellevue Athletic Boosters as a marketing elevator pitch specialist. It is your job to convince the consumers in our community to purchase an athletic booster fundraising card. RIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!
  7. THE GROUP TO SELL THE MOST CARDS BEFORE THURSDAY WILL WIN!!!!

How many cards did your team sell?

GOAL: Before you leave today you will have the opportunity to learn about how “entrepreneurial” you are and you will have the opportunity to research current and past entrepreneurs.

  1. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  2. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  3. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  4. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?

Profile of an Entrepreneur:

  1. Step 1:
    1. Find an online article/story about an entrepreneur using one of the following sources:
      1. Entrepreneur (http://www.entrepreneur.com/)
      2. Inc. (http://www.inc.com/)
      3. Fortune (http://money.cnn.com/magazines/fortune/)
      4. Another business publication of your choice
    2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
  2. Step 2:
    1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
    2. Copy and paste the URL’s of all the sites you used.
    3. OPTIONAL: Provide video clips in the Google Doc.
    4. Be prepared to orally share with the class.
  3. Step 3:
    1. Share your finds with the class.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      1. ALTERNATIVES:
        1. Poster/Infographic
        2. Website
        3. Video/Powtoon
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. Begin the article today and contact the person you would like to interview TODAY–RIGHT NOW–to set up an interview time. You will finish writing your article NEXT CLASS, including your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

 

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process. You will also be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: IDEO

WATCH: Russell Simmons on Innovation and Business

Watch these videos: A Day Made of Glass 1 & 2

DO:

INNOVATION & CREATIVITY

Wuzzlers–Let’s do these together!! Think outside the box!!

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

“Redesign the Gift Giving Experience”DESIGN THINKING USING EMPATHY:


Complete Design Thinking Activity with partner:

  1. Get the print out
  2. Get with a partner
  3. Get sharpies
  4. Get arts & supplies
  5. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and start the video. Stop the video before the debriefing.

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video. Stop the video before the debriefing.

 

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video.

Design Thinking DeBrief

  1. What is the importance of the Discovery phase in Entrepreneurship?
  2. How do innovation activities facilitate Discovery?
  3. How would you change the Design Thinking activity for your business?
  4. How do you feel about the time constraints in the DT activity?
  5. What were some struggles you had? Successes?
  6. How did this change your way of thinking about design?

 

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

Ted.com “Ingenious” Reaction Paper

Step 1:

Go to Ted.

Step 2:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

 

 

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

After the Design Thinking Process:

  1. Go to www.bizinnovator.com
  2. Click on BIZMODEL
  3. Work on the PRODUCT/SERVICE PLAN for your business

 

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.
  4. Play against people in this class!

 

ROCKWELL FIELD TRIP

In a NEW Google Doc shared with me, write a thank you to Rockwell for the time they took out of their schedule to meet with us and give us a tour. Please mention at least 1 specific idea you got or learned from the tour. Use good writing skills! This will go in a thank you note to them!!! Also, please let me know of a local service business and/or retail business you would like to visit in Bellevue, Maquoketa, Dubuque, or any other neighboring community.

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! With a Team of FOUR!!!

 

 

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE
    1. Mark Zuckerberg’s Facebook Story Part 1!
  2. Why did you learn from the video clip and article today that you can use in your life either now or in the future?
ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.2

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

 

Read the following story about Opportunity Recognition:

A STORY ABOUT OPPORTUNITY

 

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?

Day 2–3 New Business Idea

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

 

SWOT ANALYSIS

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

 

BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit = $1.00

What is the BE Point?

After completing a BE analysis with the above information, change the Selling Price per Unit to $2.

What is the new BE point? What is the highest Sales Revenue?

Try this: Change the Selling Price per Unit back to $1 and change the Expect Unit Sales to 50

What is the BE point? What is the highest Sales Revenue?

Change the Expected Unit Sales back to 80 and change the variable unit costs to $.20

What is the BE point? What is the highest Sales Revenue?

Change the Variable Unit Cost back to $.10 and change the Expected Unit Sales to 280.

What is the BE point? What is the highest Sales Revenue?

 

Write a summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.2

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

 

Read the following story about Opportunity Recognition:

A STORY ABOUT OPPORTUNITY

 

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?

Day 2–3 New Business Idea

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Join the Edmodo group: q9i4af
  2. Entrepreneurs Can Change the World–watch this
  3. Go to BizInnovator
  4. Choose to download the PowerPoint presentation.
    1. It will automatically download it to the Downloads folder.
    2. Click it to open it
    3. Save it to the Intro to Business folder (you will need to make a new folder) on your Google Drive on your machine.
    4. Read the PowerPoint
    5. Create a new Word file named OVERVIEW on your OneDrive to share with me (tracy_weber@hotmail.com) and answer the discussion questions on the last slide. We will discuss them.
  5. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  6. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  7. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  8. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  9. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship, identify characteristics of successful entrepreneurs, assess your entrepreneurial characteristics, and evaluate the advantages & disadvantages of entrepreneurship.

  1. Open your OVERVIEW file in which you answer the discussion questions on the last slide. We will discuss them.
  2. What Makes an Entrepreneur? (20 minutes)
    1. Brainstorm: Entrepreneur vs. Non-entrepreneur
    2. Read ONE of the following articles AND watch ONE of the following videos:
      1. Articles:
        1. Entrepreneur: What’s In a Definition?
        2. Profile of an Entrepreneur
        3. Myths about Entrepreneurs
      2. Videos:
        1. Characteristics of an Entrepreneur–watch this
        2. Steve Jobs Advice for Entrepreneurs–watch this
        3. Mark Cuban Talks Shark Tank & Entrepreneurship–Watch this
        4. 10 Myths of Entrepreneurship–Watch this
    3. Go to the OVERVIEW file and answer the following questions (we will discuss them also):
      1. What makes an entrepreneur an entrepreneur?
      2. Which would you rather be–an entrepreneur or a non-entrepreneur? Why?
      3. Which myth surprised you the most? Why?
  3. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  4. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  5. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  6. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?!

GOAL: By the completion of this unit you will complete a successful business pitch with a group of 3. Today you will learn about business pitches.

  1. Read together: Elevator Pitch Essentials 101
  2. Read Elevator Pitch 101 together
  3. Watch this: The Elevator Pitch
  4. Watch together: 6 Elevator Pitches for the 21st Century
  5. Read How to Give an Elevator Pitch
  6. Read 12 Tips for a Winning Elevator Pitch
  7. Watch these sample pitches:
    1. Sample #1
    2. Sample #2
    3. Sample #3
    4. Sample #4

PRACTICE!!

  1. Get with a partner.
  2. Think of a problem or need or want at school.
  3. Create a pitch for that problem or need or want at school. You are creating it for the school board
  4. PITCH IT!!

Scenario: You have been hired by the Tech Math class as a marketing elevator pitch specialist. It is your job to convince the Bellevue Community School Board to purchase materials needed to allow the construction of recycle bins. These recycle bins will be placed throughout the entire school district. The bins could also be used by our Bellevue and surrounding communities. Here is a picture of what the bin will look like:

Recycle BinRIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!

GOAL: Vote on a recycle bin proposal and create a pitch for the athletic booster fundraising cards.

  1. FINALISTS: present your fine-tuned pitches!! (Chaz’s group, Anna’s group, Kaleb’s group)

Scenario: You have been hired by the Bellevue Athletic Boosters as a marketing elevator pitch specialist. It is your job to convince the consumers in our community to purchase an athletic booster fundraising card. RIGHT NOW:

  1. Get in groups of 2-3.
  2. Plan your pitch.
  3. We will pitch to the class in about 15-30 minutes.
  4. We will critique each others & offer suggestions.
  5. Re-work your pitch.
  6. Pitch it again!
  7. THE GROUP TO SELL THE MOST CARDS BEFORE THURSDAY WILL WIN!!!!

How many cards did your team sell?

GOAL: Before you leave today you will have the opportunity to learn about how “entrepreneurial” you are and you will have the opportunity to research current and past entrepreneurs.

  1. Identifying Strengths (15 minutes)
    1. Are You An Entrepreneur? Take this quiz & READ ALL the result explanations at the end. COPY & PASTE YOUR RESULTS IN THE OVERVIEW WORD FILE.
    2. In the OVERVIEW Word file:
      1. Identify 2 of your strengths
      2. Identify 2 of your weaknesses
    3. Get into groups of 3 & discuss your skills. Respond to the following:
      1. Why do these skills improve my potential as an entrepreneur?
      2. What can I do to enhance my potential as an entrepreneur?
      3. Who do I know that exemplifies the four skills that I have chosen?
      4. Are some skills more important than others?
  2. Evaluating Advantages & Disadvantages & Self-Analysis (15 minutes)
    1. Idea Cafe–Click on at least 3–read their profile–BOOKMARK THIS PAGE!!!
    2. Self-Analysis–read
    3. In the OVERVIEW Word file, list 4 advantages & 4 disadvantages of entrepreneurship.
  3. How to Register a Business: Review the Small Business Administration (SBA) website. Find the page where you learn steps to starting a business. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.
  4. Do you have an idea?! Watch this and DO IT!!! You Have a Business Idea, Now What?

Profile of an Entrepreneur:

  1. Step 1:
    1. Find an online article/story about an entrepreneur using one of the following sources:
      1. Entrepreneur (http://www.entrepreneur.com/)
      2. Inc. (http://www.inc.com/)
      3. Fortune (http://money.cnn.com/magazines/fortune/)
      4. Another business publication of your choice
    2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
  2. Step 2:
    1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
    2. Copy and paste the URL’s of all the sites you used.
    3. OPTIONAL: Provide video clips in the Google Doc.
    4. Be prepared to orally share with the class.
  3. Step 3:
    1. Share your finds with the class.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      1. ALTERNATIVES:
        1. Poster/Infographic
        2. Website
        3. Video/Powtoon
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. Begin the article today and contact the person you would like to interview TODAY–RIGHT NOW–to set up an interview time. You will finish writing your article NEXT CLASS, including your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

Interview an Entrepreneur activity–You can do this for an entrepreneur of your choice.

  1. Here are some examples of your finished product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  2. REMEMBER:
    1. This is your assessment (test) for the OVERVIEW unit. Be sure to cover the following:
      1. Concepts and processes associated with successful entrepreneurial performance.
      2. Characteristics of a successful entrepreneur.
      3. Defines entrepreneurship.
      4. Evaluate the advantages & disadvantages of entrepreneurship.
    2. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
    3. Use good writing skills!
    4. Be creative! Use the examples above to help you.
    5. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
    6. PRINT with the following at the top of the first page:
      1. Your Name
      2. Name of the Entrepreneur
      3. Title of the Article
  3. FINISH THE ARTICLE TODAY. Include your interview findings.

 

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process. You will also be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: IDEO

WATCH: Russell Simmons on Innovation and Business

Watch these videos: A Day Made of Glass 1 & 2

DO:

INNOVATION & CREATIVITY

Wuzzlers–Let’s do these together!! Think outside the box!!

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

“Redesign the Gift Giving Experience”DESIGN THINKING USING EMPATHY:


Complete Design Thinking Activity with partner:

  1. Get the print out
  2. Get with a partner
  3. Get sharpies
  4. Get arts & supplies
  5. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and start the video. Stop the video before the debriefing.

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video. Stop the video before the debriefing.

 

Complete Design Thinking Activity with partner:

  1. GO FOR A RIDE!: VIRTUAL CRASH COURSE VIDEO and finish the video.

Design Thinking DeBrief

  1. What is the importance of the Discovery phase in Entrepreneurship?
  2. How do innovation activities facilitate Discovery?
  3. How would you change the Design Thinking activity for your business?
  4. How do you feel about the time constraints in the DT activity?
  5. What were some struggles you had? Successes?
  6. How did this change your way of thinking about design?

 

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

Ted.com “Ingenious” Reaction Paper

Step 1:

Go to Ted.

Step 2:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

 

 

YOUR ASSESSMENT FOR THE INNOVATION & CREATIVITY UNIT

USE THE DESIGN THINKING USING EMPATHY TO HELP YOUR PARTNER COME UP WITH A BUSINESS IDEA

Brainstorming for Business Opportunities–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea.

• Get the packet from your teacher
• Click on this link http://dschool.stanford.edu/dgift/#gear-up and watch the video, IF YOU NEED TO!! 

Design Thinking DeBrief

  • What is the business idea your partner came up with for you?
  • Is this a good idea? Explain.
  •  How would you change the Design Thinking activity for your business?
  • How did this change your way of thinking about your business idea?

REPEAT TO COME UP WITH A CLASS BUSINESS?

After the Design Thinking Process:

  1. Go to www.bizinnovator.com
  2. Click on BIZMODEL
  3. Work on the PRODUCT/SERVICE PLAN for your business

 

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.

 

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! On your own.
  4. Play against people in this class!

 

ROCKWELL FIELD TRIP

In a NEW Google Doc shared with me, write a thank you to Rockwell for the time they took out of their schedule to meet with us and give us a tour. Please mention at least 1 specific idea you got or learned from the tour. Use good writing skills! This will go in a thank you note to them!!! Also, please let me know of a local service business and/or retail business you would like to visit in Bellevue, Maquoketa, Dubuque, or any other neighboring community.

JA TITAN–Let’s play!

  1. Get the strategy guide and quick start guide from your teacher–Read them
  2. Go to http://titanpublic.ja.org and create a new account
  3. Play! With a Team of FOUR!!!

 

 

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE
    1. Mark Zuckerberg’s Facebook Story Part 1!
  2. Why did you learn from the video clip and article today that you can use in your life either now or in the future?

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Watch the following YouTube video clips:
    1. What is an Entrepreneur?
    2. Entrepreneur’s Can Change the World
    3. Capitalism
    4. Steven Jobs’ Advice to Entrepreneurs
  2. Teen Tech Wizard:
    1. Go to our class’s Google Group
    2. Read and complete the Teen Tech Wizard’s Discussion

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship and identify characteristics of successful entrepreneurs.

  1. How to Register a Business:
    1. Review the Small Business Administration (SBA) website at www.sba.gov. Click on various links–look around! BOOKMARK THIS SITE!!!
      1. Review these pages on this site:
        1. http://www.sba.gov/thinking-about-starting
        2. http://www.sba.gov/content/entrepreneurship-you
        3. http://www.sba.gov/content/20-questions-before-starting-business
        4. http://www.sba.gov/content/follow-these-10-steps-starting-business–CLICK ON EACH OF THE FOLLOWING LINKS IN THIS SITE AND JUST LOOK AT THEM!!!
          1. Write a Business Plan
          2. Get Business Assistance and Training
          3. Choose a Business Location
          4. Finance Your Business
          5. Determine the Legal Structure of Your Business
          6. Register a Business Name (“Doing Business As”)
          7. Get a Tax Identification Number
          8. Register for State and Local Taxes
          9. Obtain Business Licenses and Permits
          10. Understand Employer Responsibilities
    2. Get with a partner, choose any of the above links, and share with the class the most important aspects of it.
    3. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.–Take notes using a Google Doc.

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Profile of an Entrepreneur:
    1. Step 1:
      1. Find an online article/story about an entrepreneur using one of the following sources:
        1. Entrepreneur (http://www.entrepreneur.com/)
        2. Inc. (http://www.inc.com/)
        3. Fortune (http://money.cnn.com/magazines/fortune/)
        4. Another business publication of your choice
      2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
    2. Step 2:
      1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
      2. Copy and paste the URL’s of all the sites you used.
      3. OPTIONAL: Provide video clips in the Google Doc.
      4. Be prepared to orally share with the class.

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Zach, Ryan, and Andrew–Tell us about your entrepreneur from Friday’s class.
  2. Send me a list of at least 5 questions you would like to ask Dave North when we visit Sedgeick tomorrow. You can do this by sharing a Google Doc with me. Google “Dave North” first to find some background information about him.
  3. What Makes an Entrepreneur?
    1. Go to our class’s Google Group
    2. Read and complete the What Makes an Entrepreneur Discussion

FIELD TRIP TO SEDGEWICK

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In a Google Doc, write a THANK YOU to Dave North at Sedgewick for his time yesterday. Be sure to provide at least one detailed piece of information that you learned from him that will help you in the future. Share it with me.
  2. Dalton read your entrepreneur profile to the class.
  3. Identifying Strengths:
    1. Take one or more of the online quizzes:
      1. Are You an Entrepreneur? (http://www.forbes.com/sites/tompost/2012/06/04/are-you-an-entrepreneur-startup/)
      2. Do you Have What it Takes to Be an Entrepreneur? (http://www.entrepreneur.com/personalityquiz)
      3. Entrepreneur Test (http://www.liraz.com/webquiz.htm)
    2. In a Google Doc shared with me (tracyweber@bellevue.k12.ia.us), respond to the following using good writing skills:
      1. Identify two of your strengths.
      2. Identify two skills that you would like to improve.
      3. Why do these skills improve my potential as an entrepreneur?
      4. What can I do to enhance my potential as an entrepreneur?
      5. Who do I know that exemplifies the four skills that I have chosen?
      6. Are some skills more important than others?

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. We will visit Roeder Brothers next class (Tuesday, 9/3/13 1:15 pm). Look their business up on the Internet and come up with 5 unique questions to ask Nick Roeder when we visit. PRINT THEM and give them to me.
  2. Interview an Entrepreneur activity–You can do this for Dave North & Sedgwick, Nick Roeder & Roeder Brothers, or for entrepreneur of your choice.
    1. Here are some examples of your product:
      1. Voss Distributing
      2. San Diego Home Care Supplies
      3. Midwest Ventures
      4. McFarland Heating and Air Conditioning
      5. Hein Family Farm
      6. Hawkeye Nation.com
      7. Big Mike’s Rental Shop

FIELD TRIP TO ROEDER’S

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In a Google Doc, write a THANK YOU to Scott Roeder at Roeder Brothers for his time yesterday. Be sure to provide at least one detailed piece of information that you learned from him that will help you in the future. Share it with me.
  2. Interview an Entrepreneur activity
    1. Today we will conduct the workshop–part III of the handout
  3. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. Field Trip to Till’s on Monday, September 9
    1. Go online and look up Till’s. Read about them. Learn about them.
    2. In today’s Google Group Post, write at least 5 questions you can ask while attending our field trip on Monday. Customize the questions to fit their business, but at the same time ask questions that allow you to learn from the trip.

FIELD TRIP TO TILL’S

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In today’s Google Group post, write a thank you to Till’s. In your thank you remember:
    1. Name something specific you learned from the field trip that you can use in your life.
    2. Be gracious! They took the time out of their busy schedule to help YOU!!!
    3. Your name WILL be attached to your comments!! Be proud and thoughful in your response while using GOOD writing skills!!
  1. Interview an Entrepreneur activity
    1. Today you will write your interview–part IV–DUE TODAY!!
    2. REMEMBER:
      1. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      2. Use good writing skills!
      3. Be creative! Use the examples below to help you.
      4. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
      5. THIS IS YOUR WRITING FOR TODAY.
      6. PRINT with the following at the top of the first page:
        1. Your Name
        2. Name of the Entrepreneur
        3. Title of the Article
  2. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  3. In Edmodo, complete the Overview Unit Test–NEXT CLASS

 

 

 

 

 

  1. Interview an Entrepreneur activity
    1. Today you will conduct the final workshop–part V & part VI
  2. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop

 

TAKE THE OVERVIEW TEST–in Edmodo

Check JMC–turn in all zeros and missing assignments.

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: Russell Simmons on Innovation and Business

DO:

INNOVATION & CREATIVITY

Wuzzlers

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

Repeat, if time permits

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Till’s Thank You!!!

Alex & Zach’s Papers

GOOGLE GROUP POST: Don’t Panic, It’s Organic

Till’s Thank You!!!

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

 

GOAL: Before you leave today you will be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

Ted.com “Ingenious” Reaction Paper

 

Step 1:

Go to www.Ted.com.

Step 2:

On left toolbar, select “Ingenious” tab

Step 3:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

 

.TED Activity in Google Groups

TEST NEXT CLASS OVER INNOVATION & CREATIVITY UNIT

TEST IN EDMODO

Brainstorming for Business Opportunities in Google Groups

TED Activity–Read and do the Google Group post for this.

Brainstorming for Business Opportunities in Google Groups–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea. More detailed instructions are in the Google Group post.

QUESTIONS FOR SCHECKEL’S–PRINT THEM WITH YOUR NAME ON IT–Think of at least 5 question about the business–Look up Scheckel Construction on the Internet (Josh Scheckel is the owner)

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Hay In A Box Google Group Post
  2. OPPORTUNITY RECOGNITION EXAMPLE #2
    1. Mark Zuckerberg’s Facebook Story Part 1!
  3. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Sara Blakely, Speaker, Entrepreneur & Founder of SPANX
    2. Read this about Sarah Blakely
  4. Why did you learn from the video clips and articles today that you can use in your life either now or in the future?

QUESTIONS FOR SCHECKEL CONSTRUCTION

 

ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:  Go to c.

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.

FIELD TRIP TO HORIZON LANES

 

THANK YOU TO HORIZON LANES–GOOGLE GROUP POST

 

Shark Tank Google Group Activity

FINISH: Shark Tank Google Group Activity

MAKE UP WORK

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.

 

STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

A STORY ABOUT OPPORTUNITY

 

Read the following story about Opportunity Recognition:

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

 

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

FINISH:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

Day 3

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

FINISH:

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit =        $1.00

After completing a BE analysis with the above information, change the expected unit sales to 50 units.

Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

RETURN ON INVESTMENT

 

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

 

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total inflows

233

268

229

214

215

1,159

Total outflows

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Gains-Costs)/Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be typical of a new business?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

 

NTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

Sonic Outlaws

Visual Infringers

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

 

 

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

 

FINISH!!!

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

MAKE UP DAY

MAKE UP DAY

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business
  4. Have a Plan Stan
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Understanding the purpose of a business plan. 

  1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  3. Share your evaluation with the class.
  4. Get with a partner and repeat steps 1 – 3 above AND do the following:
    1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Write a business plan

ONLINE BUSINESS PLAN

GOAL: Write an executive summary.

Writing an Executive Summary

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

Goal: Learn how to present your business plan.

Business Plan Template

Guidelines for Judges

Judges Scoring

 

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR TODAY

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

-Give Your Pitch

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

  1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

  1. Primary Contact is you
  2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
  3. Upload your Executive Summary Word file.

Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

 

Market Research & Marketing Unit

GOAL: Before you leave today you will know the meaning of the 4 P’s of Marketing, Market Penetration, Market Research.

Market_Research_Analysis–Download, open, save it to your Google Drive & READ IT!!

Market_Penetration–Download, open, save it to your Google Drive & READ IT!!

READ THIS & ANSWER THESE QUESTIONS IN A GOOGLE DOC SHARED WITH ME

WATCH THIS & ADD YOUR REACTION TO THE GOOGLE DOC ABOVE

4 P-s Activity

4 P’s of Marketing

 

Watch this YouTube Video describing the 4 P’s of Marketing:

Marketing: A New Look at the 4Ps of Marketing–WATCH THIS

Assignment:

Individually or in teams, develop an effective marketing mix for a brushless car wash in your neighborhood including product, price, promotion and placement.

Work on the Marketing Section of you business plan at YouthBizCentral

Market Research & Marketing Unit

INTRODUCTION TO MARKETING RESEARCH

 

Using the following resource, read about Puerto Vallarta Auto, and discover appropriate market research methods for identifying who your customers are.

Activity Link

http://www.marketingteacher.com/Lessons/lesson_marketing_research.htm

Note* There are three links at the top of the page (Lesson, Exercise, Answer).

  1. Read and do the LESSON tab first
  2. Next, read and do the EXERCISE tab–type your responses in a Google Doc shared with me
  3. Last–compare your ideas/responses with the ANSWER tab

Use the following as a resource: http://illuminations.nctm.org/LessonDetail.aspx?id=L382–Get the handout from your teacher

COMPLETE THESE SURVEYS FIRST TODAY:

  1. Student Learning Styles Survey
  2. Student Information Survey

THE FOLLOWING IS THE TEST FOR THE MARKETING UNIT

Activity: Competitive Matrix/Business Demographic Evaluation

How does your business compare?

GOAL: You will evaluate and compare your business opportunity with the competition.

Objective: To learn how to compare the strengths and weaknesses of your business and to identify your business’ competitive advantage.

Instructions:

Get a handout. You should compare your business to your competitors.  There are a couple of ways that you can use the handout/chart:

  1. You can place X’s (or determine rank) in the boxes identifying strengths of your business and your competitor’s businesses.
  2. You can write specific information about your business and your competitor’s businesses into the boxes and then compare.

Take a look at these established products or services and evaluate the demographic group these products or services try to reach–HANDOUT

 

Entrepreneurial Finance

Finance–Read it and save it as a reference

WATCH THIS

START UP COSTS

Estimating Start Up Costs

 

Start Up Costs To Consider:

  1. Organization Costs (i.e. attorney fees, registration, etc.)
  2. Equipment
  3. Facility Costs (i.e. lease vs. purchase)
  4. Operating (i.e. deposits, development, advertising)
  5. Other

Get the handout from your teacher.

COMPLETE THE START UP COSTS SECTION IN YOUTHBIZCENTRAL

Entrepreneurial Finance

THIS IS YOUR TEST FOR THE FINANCIAL UNIT

Understanding Income Statement and Cash Flow

 

Watch the following instructional videos for balance sheet, income statement, and cash flow.

Income Statement

Cash Flow

Use the information learned to create the following for your business idea: (GO TO YOUTHBIZCENTRAL TO COMPLETE)

CREATE EACH USING A TEMPLATE IN MICROSOFT EXCEL (create a screencast for this 2014)

  • Income Statement (1 year by month)
  • Cash Flow (1 year by month)
  • Assumptions

Entrepreneurial Finance

THIS IS YOUR TEST FOR THE FINANCIAL UNIT

Understanding Income Statement and Cash Flow

 

Watch the following instructional videos for balance sheet, income statement, and cash flow.

Income Statement

Cash Flow

Use the information learned to create the following for your business idea: (GO TO YOUTHBIZCENTRAL TO COMPLETE)

  • Income Statement (1 year by month)
  • Cash Flow (1 year by month)
  • Assumptions

GOAL: Get caught up and finish your financial statements.

  1. YouthBiz Central–Financial Part–Fill it out
  2. Google Spreadsheet/Excel Spreadsheet–Income Statement & Cash Flow Statement

GOAL: Before you leave today you will know about the different types of business ownership, business ethics, and business organization.

  1. Business_Operations–Save this. Read it.
  2. Read this
  3. Answer these in a Google Doc shared with me. Use complete sentences and good writing skills.
  4. Watch this
  5. Read this & Do this: Entity
  6. DO THIS: Organizational_Chart–PRINT IT AND TURN IT IN.

Monitoring & Exiting Strategy

MonitorandExit

Read this

Exit Strategy

After reviewing the following websites, respond to the questions below in a shared Google Doc with me:

http://www.bizplanit.com/exit-strategy/business-plan-basics.html?phpMyAdmin=585de743f6b26df786c187a0b554c4cb

http://www.bizplanit.com/exit-strategy/mistakes-to-avoid.html?phpMyAdmin=585de743f6b26df786c187a0b554c4cb

  1. List a minimum of three (3) of the most common mistakes of entrepreneurs regarding exit strategies.
  2. List a minimum of three (3) ways an entrepreneur might avoid the mistakes listed above.
  3. What are five (5) of the most common exit strategies and identify the advantages and disadvantages of each?

Acquisition

  • Advantages:
  • Disadvantages:

Sale of Company

  • Advantages:
  • Disadvantages:

Merger

  • Advantages:
  • Disadvantages:

Buy-Out

  • Advantages:
  • Disadvantages:

Franchise

  • Advantages:
  • Disadvantages:

Tools for Measurement: Financial Ratios–Get handout from teacher.

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Watch the following YouTube video clips:
    1. What is an Entrepreneur?
    2. Entrepreneur’s Can Change the World
    3. Capitalism
    4. Steven Jobs’ Advice to Entrepreneurs
  2. Teen Tech Wizard:
    1. Go to our class’s Google Group
    2. Read and complete the Teen Tech Wizard’s Discussion

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship and identify characteristics of successful entrepreneurs.

  1. How to Register a Business:
    1. Review the Small Business Administration (SBA) website at www.sba.gov. Click on various links–look around! BOOKMARK THIS SITE!!!
      1. Review these pages on this site:
        1. http://www.sba.gov/thinking-about-starting
        2. http://www.sba.gov/content/entrepreneurship-you
        3. http://www.sba.gov/content/20-questions-before-starting-business
        4. http://www.sba.gov/content/follow-these-10-steps-starting-business–CLICK ON EACH OF THE FOLLOWING LINKS IN THIS SITE AND JUST LOOK AT THEM!!!
          1. Write a Business Plan
          2. Get Business Assistance and Training
          3. Choose a Business Location
          4. Finance Your Business
          5. Determine the Legal Structure of Your Business
          6. Register a Business Name (“Doing Business As”)
          7. Get a Tax Identification Number
          8. Register for State and Local Taxes
          9. Obtain Business Licenses and Permits
          10. Understand Employer Responsibilities
    2. Get with a partner, choose any of the above links, and share with the class the most important aspects of it.
    3. Be prepared to answer basic questions about starting and registering a business on a quiz or exam.–Take notes using a Google Doc.

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Profile of an Entrepreneur:
    1. Step 1:
      1. Find an online article/story about an entrepreneur using one of the following sources:
        1. Entrepreneur (http://www.entrepreneur.com/)
        2. Inc. (http://www.inc.com/)
        3. Fortune (http://money.cnn.com/magazines/fortune/)
        4. Another business publication of your choice
      2. Read about the entrepreneurs who are heading today’s dynamic new businesses.
    2. Step 2:
      1. Write a profile (200-250 words) about the entrepreneur of your choice in a Google Doc. Share it with me.
      2. Copy and paste the URL’s of all the sites you used.
      3. OPTIONAL: Provide video clips in the Google Doc.
      4. Be prepared to orally share with the class.

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will be able to define entrepreneurship an identify characteristics of successful entrepreneurs.

  1. Zach, Ryan, and Andrew–Tell us about your entrepreneur from Friday’s class.
  2. Send me a list of at least 5 questions you would like to ask Dave North when we visit Sedgeick tomorrow. You can do this by sharing a Google Doc with me. Google “Dave North” first to find some background information about him.
  3. What Makes an Entrepreneur?
    1. Go to our class’s Google Group
    2. Read and complete the What Makes an Entrepreneur Discussion

FIELD TRIP TO SEDGEWICK

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In a Google Doc, write a THANK YOU to Dave North at Sedgewick for his time yesterday. Be sure to provide at least one detailed piece of information that you learned from him that will help you in the future. Share it with me.
  2. Dalton read your entrepreneur profile to the class.
  3. Identifying Strengths:
    1. Take one or more of the online quizzes:
      1. Are You an Entrepreneur? (http://www.forbes.com/sites/tompost/2012/06/04/are-you-an-entrepreneur-startup/)
      2. Do you Have What it Takes to Be an Entrepreneur? (http://www.entrepreneur.com/personalityquiz)
      3. Entrepreneur Test (http://www.liraz.com/webquiz.htm)
    2. In a Google Doc shared with me (tracyweber@bellevue.k12.ia.us), respond to the following using good writing skills:
      1. Identify two of your strengths.
      2. Identify two skills that you would like to improve.
      3. Why do these skills improve my potential as an entrepreneur?
      4. What can I do to enhance my potential as an entrepreneur?
      5. Who do I know that exemplifies the four skills that I have chosen?
      6. Are some skills more important than others?

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. We will visit Roeder Brothers next class (Tuesday, 9/3/13 1:15 pm). Look their business up on the Internet and come up with 5 unique questions to ask Nick Roeder when we visit. PRINT THEM and give them to me.
  2. Interview an Entrepreneur activity–You can do this for Dave North & Sedgwick, Nick Roeder & Roeder Brothers, or for entrepreneur of your choice.
    1. Here are some examples of your product:
      1. Voss Distributing
      2. San Diego Home Care Supplies
      3. Midwest Ventures
      4. McFarland Heating and Air Conditioning
      5. Hein Family Farm
      6. Hawkeye Nation.com
      7. Big Mike’s Rental Shop

FIELD TRIP TO ROEDER’S

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In a Google Doc, write a THANK YOU to Scott Roeder at Roeder Brothers for his time yesterday. Be sure to provide at least one detailed piece of information that you learned from him that will help you in the future. Share it with me.
  2. Interview an Entrepreneur activity
    1. Today we will conduct the workshop–part III of the handout
  3. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop

 

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. Field Trip to Till’s on Monday, September 9
    1. Go online and look up Till’s. Read about them. Learn about them.
    2. In today’s Google Group Post, write at least 5 questions you can ask while attending our field trip on Monday. Customize the questions to fit their business, but at the same time ask questions that allow you to learn from the trip.

FIELD TRIP TO TILL’S

UNIT GOAL: The Overview of Entrepreneurship unit is an introduction to the concepts and processes associated with successful entrepreneurial performance. It introduces the characteristics of an entrepreneur and defines entrepreneurship.

TODAY’S GOAL: Before you leave today, you will begin to assess your own entrepreneurial characteristics.

  1. In today’s Google Group post, write a thank you to Till’s. In your thank you remember:
    1. Name something specific you learned from the field trip that you can use in your life.
    2. Be gracious! They took the time out of their busy schedule to help YOU!!!
    3. Your name WILL be attached to your comments!! Be proud and thoughful in your response while using GOOD writing skills!!
  1. Interview an Entrepreneur activity
    1. Today you will write your interview–part IV–DUE TODAY!!
    2. REMEMBER:
      1. This is a magazine article highlighting this entrepreneur, grab your reader’s attention and hold it throughout the article
      2. Use good writing skills!
      3. Be creative! Use the examples below to help you.
      4. 2 pages, double-spaced, Times New Roman font, size 12, indent paragraphs
      5. THIS IS YOUR WRITING FOR TODAY.
      6. PRINT with the following at the top of the first page:
        1. Your Name
        2. Name of the Entrepreneur
        3. Title of the Article
  2. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop
  3. In Edmodo, complete the Overview Unit Test–NEXT CLASS

 

 

 

 

 

  1. Interview an Entrepreneur activity
    1. Today you will conduct the final workshop–part V & part VI
  2. Here are some examples of your product:
    1. Voss Distributing
    2. San Diego Home Care Supplies
    3. Midwest Ventures
    4. McFarland Heating and Air Conditioning
    5. Hein Family Farm
    6. Hawkeye Nation.com
    7. Big Mike’s Rental Shop

 

TAKE THE OVERVIEW TEST–in Edmodo

Check JMC–turn in all zeros and missing assignments.

GOAL: Before you leave today you will know the meaning of innovation and the effects that help and hinder the creative thinking process.

READ: Innovation PowerPoint–Read it!! Take notes in it. Save it to you drive

WATCH: Russell Simmons on Innovation and Business

DO:

INNOVATION & CREATIVITY

Wuzzlers

RANDOM OBJECTS INSPIRE CREATIVITY

 

Develop your creativity skills and learn a key characteristic of being an entrepreneur.

Instructions:

Get into groups of 3-4 students.

Brainstorm “what” the object could be.  For example, a Frisbee might be a wheel, a dog dish, etc.

You will have only 3 minutes.

Read your group’s list to the rest of the class.

Repeat, if time permits

GOAL: Before you leave today you will have the opportunity to seek out innovative business opportunities during difficult times.

Till’s Thank You!!!

Alex & Zach’s Papers

GOOGLE GROUP POST: Don’t Panic, It’s Organic

Till’s Thank You!!!

PUZZLES ENCOURAGE CREATIVE THOUGHT

Get into groups of 2-3

There are puzzles 3 placed around the room

Your group must cooperatively assemble the puzzles.

  1. Which puzzle was the easiest? Why?
  2. Which puzzle was the most difficult? Why?
  3. How did your thinking process have to change in order to solve these puzzles?
  4. How does this activity relate to innovation, creativity and entrepreneurship?
Developing Creative Solutions

Putting the familiar into a new context

The paradox of recessions…Most people think recessions, or economic downturns, are negative events.  But looking for what is good in a recession is a useful creative exercise.

Why? 

Recessions often create more needs and problems which can be solved by entrepreneurs.

Assignment:

Make a “Top 10” List of Opportunities during a Recession *hint: What are the problems?  What are the solutions?

Example: Think about education.  When people are laid off from their jobs, they often return to school to retrain themselves for a future career.  Educational institutions and training centers rush to meet this need and profit from increased revenue from tuition.

Use the Internet to help you. Do this with a partner. We will share with the class in 15 minutes.

 

GOAL: Before you leave today you will be provided the opportunity to improve your communication skills and learn about ingenious problems/solutions.

Tinker Toys – Entrepreneur Activity

 

 Equipment: A box of big Legos or Tinker Toys for each team plus one extra.  Each team has all of the parts necessary to build the replicate (and may have a few extra pieces to contend with).

Guidelines: To reproduce the unseen “creation” exactly.

Preparation:

  1. Make a “creation” with one box of blocks and put it in a room where it cannot be seen by the participants.

(Another option: Have enough sets so that the Entrepreneur in each team builds the initial model for his/her team.  This way each team is building a different model.)

  1. Divide the participants into groups or keep as one, depending on size (Groups ideally 3 people – entrepreneur, manager, builder).
  1. Each group: a Entrepreneur, Manager and a Builder and is then given a box of tinker toys to assemble into the “creation” with the following conditions.

•Entrepreneurs are the only ones who see the “creation”. Their only means of communication answering Yes/No questions from the Manager. They may not see what the Builder is building.

•Managers may only answer the Builder’s questions with “yes”, “no” or “I don’t know”. They may return to ask the Entrepreneur Yes/No questions at any time. They cannot build.

•Builders can ask Yes/No questions of Managers.

  1. Switch Roles:
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur
  2. Switch Roles
    1. Entrepreneur becomes Manager
    2. Manager becomes Builder
    3. Builder becomes Entrepreneur

Debrief: Discuss the role of the entrepreneur.  Entrepreneur’s ability to communicate “vision”.  Difficulty of manager and builder to create Entrepreneur’s vision.  What do students learn from participation in this activity?

Ted.com “Ingenious” Reaction Paper

 

Step 1:

Go to www.Ted.com.

Step 2:

On left toolbar, select “Ingenious” tab

Step 3:

Watch any video that interests you and write a 150-200 word reaction paper discussing the following:

  • What problem might be solved?
  • What business opportunities do you see?

 

.TED Activity in Google Groups

TEST NEXT CLASS OVER INNOVATION & CREATIVITY UNIT

TEST IN EDMODO

Brainstorming for Business Opportunities in Google Groups

TED Activity–Read and do the Google Group post for this.

Brainstorming for Business Opportunities in Google Groups–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea. More detailed instructions are in the Google Group post.

QUESTIONS FOR SCHECKEL’S–PRINT THEM WITH YOUR NAME ON IT–Think of at least 5 question about the business–Look up Scheckel Construction on the Internet (Josh Scheckel is the owner)

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Hay In A Box Google Group Post
  2. OPPORTUNITY RECOGNITION EXAMPLE #2
    1. Mark Zuckerberg’s Facebook Story Part 1!
  3. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Sara Blakely, Speaker, Entrepreneur & Founder of SPANX
    2. Read this about Sarah Blakely
  4. Why did you learn from the video clips and articles today that you can use in your life either now or in the future?

QUESTIONS FOR SCHECKEL CONSTRUCTION

 

ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:  Go to c.

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.

FIELD TRIP TO HORIZON LANES

 

THANK YOU TO HORIZON LANES–GOOGLE GROUP POST

 

Shark Tank Google Group Activity

FINISH: Shark Tank Google Group Activity

MAKE UP WORK

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.

 

STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

A STORY ABOUT OPPORTUNITY

 

Read the following story about Opportunity Recognition:

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

 

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

FINISH:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

Day 3

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

FINISH:

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit =        $1.00

After completing a BE analysis with the above information, change the expected unit sales to 50 units.

Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

RETURN ON INVESTMENT

 

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

 

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total inflows

233

268

229

214

215

1,159

Total outflows

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Gains-Costs)/Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be typical of a new business?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

 

NTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

Sonic Outlaws

Visual Infringers

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

 

 

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

 

FINISH!!!

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

MAKE UP DAY

MAKE UP DAY

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business
  4. Have a Plan Stan
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Understanding the purpose of a business plan. 

  1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  3. Share your evaluation with the class.
  4. Get with a partner and repeat steps 1 – 3 above AND do the following:
    1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Write a business plan

ONLINE BUSINESS PLAN

GOAL: Write an executive summary.

Writing an Executive Summary

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

Goal: Learn how to present your business plan.

Business Plan Template

Guidelines for Judges

Judges Scoring

 

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR TODAY

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

-Give Your Pitch

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

  1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

  1. Primary Contact is you
  2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
  3. Upload your Executive Summary Word file.

Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

 

Market Research & Marketing Unit

GOAL: Before you leave today you will know the meaning of the 4 P’s of Marketing, Market Penetration, Market Research.

Market_Research_Analysis–Download, open, save it to your Google Drive & READ IT!!

Market_Penetration–Download, open, save it to your Google Drive & READ IT!!

READ THIS & ANSWER THESE QUESTIONS IN A GOOGLE DOC SHARED WITH ME

WATCH THIS & ADD YOUR REACTION TO THE GOOGLE DOC ABOVE

4 P-s Activity

4 P’s of Marketing

 

Watch this YouTube Video describing the 4 P’s of Marketing:

Marketing: A New Look at the 4Ps of Marketing–WATCH THIS

Assignment:

Individually or in teams, develop an effective marketing mix for a brushless car wash in your neighborhood including product, price, promotion and placement.

Work on the Marketing Section of you business plan at YouthBizCentral

Market Research & Marketing Unit

INTRODUCTION TO MARKETING RESEARCH

 

Using the following resource, read about Puerto Vallarta Auto, and discover appropriate market research methods for identifying who your customers are.

Activity Link

http://www.marketingteacher.com/Lessons/lesson_marketing_research.htm

Note* There are three links at the top of the page (Lesson, Exercise, Answer).

  1. Read and do the LESSON tab first
  2. Next, read and do the EXERCISE tab–type your responses in a Google Doc shared with me
  3. Last–compare your ideas/responses with the ANSWER tab

Use the following as a resource: http://illuminations.nctm.org/LessonDetail.aspx?id=L382–Get the handout from your teacher

COMPLETE THESE SURVEYS FIRST TODAY:

  1. Student Learning Styles Survey
  2. Student Information Survey

THE FOLLOWING IS THE TEST FOR THE MARKETING UNIT

Activity: Competitive Matrix/Business Demographic Evaluation

How does your business compare?

GOAL: You will evaluate and compare your business opportunity with the competition.

Objective: To learn how to compare the strengths and weaknesses of your business and to identify your business’ competitive advantage.

Instructions:

Get a handout. You should compare your business to your competitors.  There are a couple of ways that you can use the handout/chart:

  1. You can place X’s (or determine rank) in the boxes identifying strengths of your business and your competitor’s businesses.
  2. You can write specific information about your business and your competitor’s businesses into the boxes and then compare.

Take a look at these established products or services and evaluate the demographic group these products or services try to reach–HANDOUT

 

Entrepreneurial Finance

Finance–Read it and save it as a reference

WATCH THIS

START UP COSTS

Estimating Start Up Costs

 

Start Up Costs To Consider:

  1. Organization Costs (i.e. attorney fees, registration, etc.)
  2. Equipment
  3. Facility Costs (i.e. lease vs. purchase)
  4. Operating (i.e. deposits, development, advertising)
  5. Other

Get the handout from your teacher.

COMPLETE THE START UP COSTS SECTION IN YOUTHBIZCENTRAL

Entrepreneurial Finance

THIS IS YOUR TEST FOR THE FINANCIAL UNIT

Understanding Income Statement and Cash Flow

 

Watch the following instructional videos for balance sheet, income statement, and cash flow.

Income Statement

Cash Flow

Use the information learned to create the following for your business idea: (GO TO YOUTHBIZCENTRAL TO COMPLETE)

CREATE EACH USING A TEMPLATE IN MICROSOFT EXCEL (create a screencast for this 2014)

  • Income Statement (1 year by month)
  • Cash Flow (1 year by month)
  • Assumptions

Entrepreneurial Finance

THIS IS YOUR TEST FOR THE FINANCIAL UNIT

Understanding Income Statement and Cash Flow

 

Watch the following instructional videos for balance sheet, income statement, and cash flow.

Income Statement

Cash Flow

Use the information learned to create the following for your business idea: (GO TO YOUTHBIZCENTRAL TO COMPLETE)

  • Income Statement (1 year by month)
  • Cash Flow (1 year by month)
  • Assumptions

GOAL: Get caught up and finish your financial statements.

  1. YouthBiz Central–Financial Part–Fill it out
  2. Google Spreadsheet/Excel Spreadsheet–Income Statement & Cash Flow Statement

GOAL: Before you leave today you will know about the different types of business ownership, business ethics, and business organization.

  1. Business_Operations–Save this. Read it.
  2. Read this
  3. Answer these in a Google Doc shared with me. Use complete sentences and good writing skills.
  4. Watch this
  5. Read this & Do this: Entity
  6. DO THIS: Organizational_Chart–PRINT IT AND TURN IT IN.

Monitoring & Exiting Strategy

MonitorandExit

Read this

Exit Strategy

After reviewing the following websites, respond to the questions below in a shared Google Doc with me:

http://www.bizplanit.com/exit-strategy/business-plan-basics.html?phpMyAdmin=585de743f6b26df786c187a0b554c4cb

http://www.bizplanit.com/exit-strategy/mistakes-to-avoid.html?phpMyAdmin=585de743f6b26df786c187a0b554c4cb

  1. List a minimum of three (3) of the most common mistakes of entrepreneurs regarding exit strategies.
  2. List a minimum of three (3) ways an entrepreneur might avoid the mistakes listed above.
  3. What are five (5) of the most common exit strategies and identify the advantages and disadvantages of each?

Acquisition

  • Advantages:
  • Disadvantages:

Sale of Company

  • Advantages:
  • Disadvantages:

Merger

  • Advantages:
  • Disadvantages:

Buy-Out

  • Advantages:
  • Disadvantages:

Franchise

  • Advantages:
  • Disadvantages:

Tools for Measurement: Financial Ratios–Get handout from teacher.

Business Ideas for Young Entrepreneurs

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. Entrepreneurial Advice from Billionaires
  2. BELL RINGER: Read page 3 and answer the 3 questions in a Google Doc–share it with me (tracyweber@bellevue.k12.ia.us). USE GOOD WRITING SKILLS!
  3. Read page 4 and we will discuss the following questions together:
    1. How do you feel about working for someone else?
    2. Do you know anyone who operates their own business?
    3. What do you know about that business?
    4. Name some businesses in our community. What needs are they meeting?
  4. With a partner, discuss what you think is the most important reason to start your own business. Be prepared to share with the class.
  5. Read pages 4-7 together. In small groups, answer the following questions:
    1. What is the definition of an entrepreneur?
    2. What do entrepreneurs try to do?
    3. Explain the difference between an employee and an employer.
    4. Why do people become entrepreneurs?
    5. What does it mean to conduct business with integrity and ethics?
  6. Use www.whitepages.com to look up the following:
    1. What are the four types of entrepreneurial businesses? Provide an example of each. Try to think of local businesses.
    2. Provide local examples of agricultural and mining & extracting businesses.
    1. Explain the growth potential for green entrepreneurs.
    2. Why are many businesses going “green”?
  7. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer this question: What are some local examples of each type of entrepreneurial business?
  8. Read pages 7-11 and watch these videos: Howard Schultz and Starbucks’ Entrepreneurial Heritage | Inc. MagazineInterview with the Founders of Home Depot by OPEN Forum
  9. In small groups, answer the following questions:
    1. How do entrepreneurs strengthen a country’s economy?
    2. Are you surprised by the number of small businesses in the United States?
    3. Explain why you think some small businesses grow into corporations like Starbucks and The Home Depot.
  10. Read the Famous Entrepreneur section & WATCH THIS VIDEO CLIP:
    1. What kinds of obstacles did Walker have to overcome to succeed in that era?
    2. Why is it important for entrepreneurs to make contributions to their community in addition to offering a product or service? Provide some local examples of this.
    3. Why do you think Madam C. J. Walker became such a successful entrepreneur?
  11. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer these question:
    1. Describe how one of the entrepreneurs discussed in this section of the chapter recognized an opportunity to develop a successful business.
    2. Do most new businesses succeed? Explain.
    3. What are the major factors to success for a new business?
    4. What factors contribute to helping a business succeed?

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. WATCH THIS VIDEO CLIP ABOUT THE IMPORTANCE OF ENTREPRENEURSHIP TO THE US ECONOMY
  2. Observing the Small Business Code of Ethics–WATCH THIS–What does he suggest small business owners use to help them make decisions high in integrity and ethically moral? Create a Google Doc and share it with me.
  3. Critical Issues in Business Success and Failure–Watch this–Why do businesses fail? What can be done to help prepare for success? Read page 10 in your book also.
  4. Textbook page 11, Make Academic Connections: Do #5 & #7 and Think About It: Do #2 & #3 in the Google Doc. At the end of class we will share what we learned with the class.
  5. Do you have a hobby you are passionate about? Do you wish you could turn that hobby into a career? David and Wendi Kast turned their hobby into a profitable business doing what they love. Read about the Kasts’ experiences and then answer these questions in the Google Doc: What is the name of David and Wendi’s business? What convinced them to turn their hobby into a business? What was the biggest challenge they faced as they started their business?

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Identify the characteristics of successful entrepreneurs.
  • Identify the characteristics of good team members.
  • Assess whether you have what it takes to succeed in your own business.

Order of Events:

  1. Finish the lesson plan from last class. We will discuss your responses together.
  2. COMMON CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
  3. BELL RINGER: Read “Think It Through” on page 12  and with a partner, discuss the Work As A Team section.
  4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us). Create a 2-column table. In the first column list your strengths (what are you good at or what do you like to do) and in the second column, list your weaknesses (what do you need more practice or education in).
  5. Read pages 12-13 and be prepared to answer the following questions:
    1. Compare your list of strengths and weaknesses with page 13. How are you alike and different?
    2. Why is it important for business owners to stay up to date on the latest technology?
  6. Read pages 14-17 and be prepared to answer the following questions:
    1. Why are team-building skills important to entrepreneurs?
    2. What are the positive characteristics of team members?
    3. How can participation on a sports team help prepare you to become an entrepreneur?
    4. In the “What Went Wrong” section of page 15, answer the 3 think critically questions.
    5. How can a self-assessment help you determine if you are right for entrepreneurship?
    6. What are some of your interests? What businesses could be started in our community from those interests?
    7. What is the difference between interest and aptitude?
    8. What are some advantages and disadvantages to being an entrepreneur?
    9. What kinds of assessments should you make to determine if entrepreneurship is right for you?
  7. In small groups, come up with 10 possible jobs for each item on the job attributes checklist on page 16. Be prepared to share with the class.

Chapter Objective: Should You Become an Entrepreneur? Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. 3 Keys to Successful Goal Setting
  2. Finish the lesson plan from last class.
    • BELL RINGER: Workbook page 3–answer them in a Google Doc. We will check them together.
    • Textbook page 17, Make Academic Connections: Do #5–get the handout from me!!
    • Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Identify sources for new business ideas.
  • Recognize different business opportunities.
  • Identify your own personal goals.

Order of Events:

  1. Mark Cuban Documentary
  2. BELL RINGER: Read “Find An Idea” on page 18  and with a partner, Complete the Work As A Team section.
  3. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  4. Read pages 18-19 and be prepared to answer the following questions:
    1. What should every new business do for the community in order to be successful?
    2. How important is it for a business idea to meet a need/want?
    3. How can opportunities and ideas lead to the start of a new business?
    4. How can hobbies, interests, past experiences, and discoveries or inventions may suggest the type of business to start?
  5. Read page 20 and be prepared to answer the following questions:
    1. What are some sources for investigating opportunities?
    2. What is the SBA and what is it’s purpose?
    3. Can an entrepreneur simply identify a business opportunity that appeals to them? Why or why not? What else must be done?
    4. How can you find out about various business opportunities?
  6. Read and do the Be Your Own Boss section on page 20. Respond in a Google Doc shared with me (tracyweber@bellevue.k12.ia.us).
  7. Read pages 21-22 and be prepared to answer the following questions:
    1. What is a SMART goal?
    2. Why is it important to write SMART goals?
    3. Why must financial goals be realistic?
    4. Why are financial goals important?
    5. Name some nonfinancial goals an entrepreneur may have.
  • BELL RINGER: Workbook page 5–answer them in a Google Doc. We will check them together.
  • Textbook page 22, in the Think About It and Make Academic Connections: Pick one from each section and respond in a Google Doc shared with me.
  • TEAMWORK: Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • List the six steps of the problem-solving model.
  • Describe ways to improve your problem-solving skills.

Order of Events:

  1. The Essential Skills Series – Problem solving through creativity

  2. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  3. Read pages 23-25 and be prepared to answer the following questions:
    1. What happens when an entrepreneur makes decisions casually, basing them on faulty assumptions or illogical thinking?
    2. How can a formal decision making model help business owners solve business problems?
    3. Why is it benefical to quantify the problem in step one?
    4. How can the sources you use help you gather the right information?
    5. Why is it important to identify all possibilities before making a final decision?
    6. Evaluate Dan’s problem. Can you think of other solutions?
    7. Can alternatives always be quantified by costs and benefits?
    8. What should be done once the best alternative is chosen?
    9. Why is step 6 so important?
  4. Read page 26-27 and be prepared to answer the following questions:
    1. What are some ways to improve problem-solving skills?
    2. What does it mean to be a good communicator?
    3. How can brainstorming be used?
    4. Should ideas be evaluated during the brainstorming session?
    5. What do success entrepreneurs do when they make a mistake?
    6. How can good communication skills help you succeed in business?
  5. Page 27 #4–Get with a partner & follow the 6 step problem solving processing………record your responses in the Google Doc for today.
  • Review for the test

Order of Events:

  1. BELL RINGER: Workbook page 9–answer them in a Google Doc. We will check them together.
  2. Read page 34–does this interest you?
  3. Textbook: page 33 DO IT!!! We will use this the rest of the semester!!
  4. Textbook: read pages 28-29 and do the Try It Out on page 29 in Word. Print your letter. Include a letterhead.
  5. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 1 Study Guide
  6. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

TEST NEXT CLASS

CHAPTER 1 TEST:Entrepreneurship Chapter 1 Test:

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

After the test–create a new Google Doc shared with me–read and do page 33 in your textbook

You and your partner need to get ready to share with the class your 6 Step Problem Solving solution…….SHARE IT WITH ME AGAIN!!

Watch this if time permits: Mark Cuban Documentary

Enroll in the online version of this course:  login.cengagebrain.com

Enter this code: CM-9781111964290-0000072

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Distinguish between needs and wants.
  • Describe the types of economic resources.
  • Explain the role of entrepreneurs in the U.S. economy.

Order of Events:

  1. Wants Vs. Needs
  2. BELL RINGER: Read “Do you want it or need it?” on page 38  and with a partner, complete the Work As A Team section.
  3. As a class, let’s read page 37 together.
  4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  5. Read pages 38-40 and be prepared to answer the following questions:
    1. What is economics all about?
    2. According to Maslow’s Hierarchy of Needs Pyramid, which needs must be met first and why?
    3. Are all needs the same for everyone? Explain.
    4. Explain the difference between economic wants and noneconomic wants.
    5. What is the difference between a need and a want?
  6. Read the NET Bookmark and do as it instructs.
  7. Economics Resources
  8. Read page 40-43 and be prepared to answer the following questions:
    1. What makes it impossible for you to meet all of your wants and needs? Explain.
    2. What is the purpose of economic resources?
    3. What kinds of resources are used for farming?
    4. What are 3 factors of production?
    5. What are some examples of natural resources?
    6. Which natural resources are unlimited? Explain.
    7. Provide examples of human resources. How do entrepreneurs provide human resources?
    8. Explain how specialization and division of labor can improve a business’s productivity.
    9. What are some examples of capital resources?
  9. Law of Diminishing Returns
    1. In our economy, what happens when supplies are limited and the demand is high?
    2. Explain the law of diminishing returns.
  10. Supply & Demand
    1. Why do some people believe that entrepreneurs are the backbone of the U.S. economy?
    2. How do entrepreneurs help meet the demands of consumers?
    3. What are some things entrepreneurs contribute to the U.S. economy?

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Distinguish between needs and wants.
  • Describe the types of economic resources.
  • Explain the role of entrepreneurs in the U.S. economy.

Order of Events:

  1. BELL RINGER: Workbook pages 11-12–answer them in a Google Doc. We will check them together.
  2. Read the “Choose between alternatives” section on page 44 and with a partner answer the question in the “Work as a team” section.
  3. Economic Systems
  4. Read pages 44-50  and be prepared to answer the following questions:
    1. What are the 3 questions all economies must answer?
    2. If all economies must answer the same questions, what makes the economies different?
    3. Who makes all the decisions in a command economy? How does that affect the consumer? Provide a country as an example of this economy.
    4. In a market economy, who makes the decisions? Provide a country as an example of this economy.
    5. Explain what a traditional economy is and where it can be found.
    6. What is a mixed economy? Provide a country as an example of this economy.
    7. How does a country’ economic system affect consumers’ product choices?
    8. How does the type of economy affect the way the basic economic questions are answered?
    9. Why do you think Paul Revere was a successful entrepreneur?
    10. How important do you think it is to have a skill that you can use when starting a business? Provide examples of skills you possess.
  5. What is the Economic System in the US?
    1. What makes our economic system different from other countries?
    2. How do capitalism and free enterprise provide freedoms for businesses?
    3. What 4 basic principles is the U.S. economic system based on? Explain each.
  6. Scarcity & Opportunity Cost
    1. How does scarcity affect what is produced and how much something will cost?
    2. What decision did you have to make recently? What was the opportunity cost to that decision?
    3. What factors affect economic choices?
    4. If you have a skill, is it important to know how to apply that skill to business? Explain and provide an example.
  7. Functions of Business
    1. What are the functions of business?
  8. Read and do the Be Your Own Boss section on page 49. Share your thoughts with me in a Google Doc.
  9. On page 50, do #5 and #7 explain how you came up with each answer.

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Recognize how supply and demand interact to determine price.
  • Describe how costs of doing business affect the price of a good or service.
  • Explain the effect of different market structures on price.

Order of Events:

  1. BELL RINGER: Workbook page 13–answer them in a Google Doc. We will check them together.
  2. Read the “Does supply match demand?” section on page 51 and with a partner answer the question in the “Work as a team” section.
  3. Supply, Demand, Equilibrium
  4. Read pages 51-54  and be prepared to answer the following questions:
    1. Under what circumstances might a company wish to expand or reduce production?
    2. What circumstances are you willing to buy more of a good? Less of a good?
    3. Provide examples of goods with elastic and inelastic demand.
    4. What is the equilibrium point? What does it represent?
    5. What affect do supply and demand have on price?
    6. Provide examples of fixed and variable costs.
    7. Which type of business is a higher risk–one with mostly fixed costs or one with mostly variable costs? Explain.

Look up an entrepreneur that interests you. Write 2-3 paragraphs about what you learned and share it with me.

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  1. Recognize how supply and demand interact to determine price.
  2. Describe how costs of doing business affect the price of a good or service.
  3. Explain the effect of different market structures on price.

Order of Events:

  1. Marginal Cost & Marginal Benefit
    1. How does the marginal benefit measure the advantages of producing one more unit while marginal cost measures the disadvantages of producing one more unit?
  2. Economies of Scale
    1. How do economies of scale affect consumers?
  3. Read and do the Want Went Wrong section on page 54. Answer the questions in a Google Doc shared with me.
  4. Market Structures
  5. Read pages 55-56  and be prepared to answer the following questions:
    1. How do the prices of products under perfect competition compare?
    2. Explain the difference between monopolistic competition, oligopoly competition and monopoly competition.
    3. What kind of competition do you think a TV manufacturer faces? Why?
    4. How does the market structure affect the price of a good or service?
  6. On page 56 read and do the Teamwork section. Be prepared to share your responses.
  7. With a partner, choose to complete one of the following TODAY:
    1. Page 57–must present today
    2. Page 60–Apply What You Learned #22 & 23
    3. Page 60-61–Make Academic Connections #24-26
    4. Page 61 What Would You Do? AND page 62
  8. On your own, do Build Your Business Plan Project on page 61.
  9. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
  10. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

TURN THIS IN:

  1. With a partner, choose to complete one of the following TODAY:
    1. Page 57–must present today
    2. Page 60–Apply What You Learned #22 & 23
    3. Page 60-61–Make Academic Connections #24-26
    4. Page 61 What Would You Do? AND page 62
  2. Read, Reflect, Write
  3. Monopoly
  1. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
  2. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
  3. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc
  4. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.
  5. Test tomorrow.

For the first five minutes: Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Entrepreneurship Chapter 2 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

AFTER THE TEST:

  1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc
  2. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.

FINISH TODAY:

  1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc

TURN IN YOUR HOMEWORK PAGES 33 & 61–SHARE IT WITH ME & THE HANDOUT FROM LAST CLASS.

GOAL: Before you leave class today you will know what a business plan is and why you need one.

  1. Go to: http://bizinnovator.com/index.cfm?fuseaction=student.previewMC&unit_id=1
    1. Create a new account
    2. 2081 is our class code
  2. Read “It’s a Dog’s Life”
  3. Watch this: https://www.youtube.com/watch?v=RoytcBiOpDI&CFID=345212&CFTOKEN=34842412
  4. Read this: http://www.forbes.com/sites/dailymuse/2013/02/14/writing-a-business-plan-4-common-mistakes-to-avoid/?CFID=345212&CFTOKEN=34842412
  5. Bookmark this page: http://articles.bplans.com/writing-a-business-plan/?CFID=345212&CFTOKEN=34842412
  6. Answer these questions, to the best of your ability, in a Google Doc shared with me to help begin to organize your thoughts about your business idea: http://www.sba.gov/content/20-questions-before-starting-business?CFID=345212&CFTOKEN=34842412

GOAL: Before you leave today you will have to opportunity to look at sample business plans and evaluate them.

  1. Watch this: https://www.youtube.com/watch?v=SMr_uLZV-eM&CFID=345212&CFTOKEN=34842412
  2. Go to: http://www.businesstown.com/planning/creating.asp?CFID=345212&CFTOKEN=34842412
    1. Click on Why Plan Your Business
    2. Go Back
    3. Click on Creating Your Business Plan
    4. Go Back
    5. Click on Outline of a Complete Business Plan
    6. Go Back
    7. Click on Developing a Business Plan
    8. Go Back
    9. Click on Rainbow Kites, Inc.–Use the Business Plan evaluation tool to evaluate it with a partner–Get it from your teacher.
  3. HOMEWORK:
    1. Go to: http://www.bplans.com/sample_business_plans.php?CFID=345212&CFTOKEN=34842412 and find a business plan resembles the type of business you are interested in starting
    2. Use the Business Plan evaluation tool to evaluate it.

TURN IN YOUR HOMEWORK

GOAL: Before you leave today you will have the opportunity to begin writing your business plan.

  1. Watch this: http://bizinnovator.com/assets/resources/BizKids/124.mp4?CFID=345212&CFTOKEN=34842412
  2. Bookmark this page to help you write the plan: http://www.sba.gov/writing-business-plan?CFID=345212&CFTOKEN=34842412
  3. Read this about how to write an executive_summary.
  4. Go to http://bizinnovator.com/index.cfm?fuseaction=student.previewMC&unit_id=1 and click on BizModel to start writing your plan. Remember this is a work in progress!!!

Shark Tank Episodes

Shark Tank Blog

GOAL: Before you leave today you will know what is meant by an “elevator pitch” and you will know why it is important.

Open this file: elevator_pitch

Read: What is an elevator pitch?

Watch:

Create:

  • Create your own 3-minute elevator pitch. Use the Presentation Tips on the 2nd page of the elevator_pitch handout.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Explain the purpose of writing a good business plan.
  • Describe the importance of a business plan.

Order of Events:

  1. BELL RINGER: Read the “Look before you leap.” section on page 66 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 65 together.
  3. Read pages 66-69  and be prepared to answer the following questions:
    1. What is a business plan and what is it’s purpose?
    2. Why would potential investors want to see your business plan?
    3. What are the 4 reasons to develop a business plan?
    4. Should lack of capital stop a great business idea from being developed? Explain.
    5. If you were a lender or an investor what would you look for in a business plan?
  4. Read the Famous Entrepreneur section on page 69. Answer the questions in a Google Doc shared with me.
  5. On page 70 read and do the #5 Communication section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • List and describe the basic elements of a business plan.
  • Describe how to pull a business plan together.

Order of Events:

  1. BELL RINGER: Workbook page 19–answer them in a Google Doc. We will check them together.
  2. Read the “Create interest in your business plan” section on page 71 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 71-80  and be prepared to answer the following questions:
    1. What are the 5 basic elements of a business plan?
    2. What should be included in the Introduction?
    3. What would the inclusion of long-term goals indicate to potential lenders and investors?
    4. What are the 3 types of business ownership? Provide an example of each.
    5. Why would lenders and investors want to know the qualifications of the leadership team and those working in the business?
    6. Why would a lender want to know the business’s competitive advantage?
    7. What should be included in the Marketing section of the business plan?
    8. What do you think should be emphasized in the marketing section: how a product is similar or different from other products? Explain.
    9. How important is it to research market conditions and prospective customers?
    10. What factors might make a difference to an investor if a business is trying to enter a declining market?
    11. Why is location important?
    12. What should be included in the Financial Management section of the business plan?
    13. Will citing potential problems hurt or help your chances of getting financing? Explain.
    14. What types of financial statements should a new business provide? How does this differ from an existing business?
    15. What should be included in the Operations section of the business plan?
    16. What will investors most like to see in this section?
    17. What is meant by harvest strategy and why would an investor want to see it in the business plan?
    18. What should be included in the Concluding Statement section of the business plan?
  4. Read the What Went Wrong section on page 57. Answer the questions in a Google Doc shared with me.
  5. Read pages 77-80  and be prepared to answer the following questions:
    1. What introductory elements need to be included with a business plan?
    2. In what order should everything be in for a completed business plan? Should you have a COVER PAGE? If so, what should be on it?
    3. What is the main purpose of the executive summary?
    4. What could be included in the appendix of your business plan?
    5. Why should you include supporting documents in your business plan?
  6. On page 80 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Describe resources available for researching your business plan.
  • Name common mistakes to avoid in business planning.

Order of Events:

  1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
  2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 81-85  and be prepared to answer the following questions:
    1. Why is it important to conduct thorough research when writing a business plan?
    2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
    3. Why is it a good idea to seek the help and advice of others when writing a business plan?
    4. What are other sources of help?
  4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
  5. Read pages 84-85  and be prepared to answer the following questions:
    1. What are the most common mistakes when creating a business plan and how can you avoid them?
  6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
  7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Describe resources available for researching your business plan.
  • Name common mistakes to avoid in business planning.

Order of Events:

  1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
  2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 81-85  and be prepared to answer the following questions:
    1. Why is it important to conduct thorough research when writing a business plan?
    2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
    3. Why is it a good idea to seek the help and advice of others when writing a business plan?
    4. What are other sources of help?
  4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
  5. Read pages 84-85  and be prepared to answer the following questions:
    1. What are the most common mistakes when creating a business plan and how can you avoid them?
  6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
  7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 23–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 90 #21
    2. Page 91–What Would You Do?
    3. Page 92
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 3 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Review

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 91.
  2. Test tomorrow

Entrepreneurship Chapter 3 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

GOAL: Finish creating your elevator pitch.

READ AND WATCH: http://www.entrepreneur.com/article/228070?CFID=345212&CFTOKEN=34842412

Read this to help you land a job: http://www.forbes.com/sites/nextavenue/2013/02/04/the-perfect-elevator-pitch-to-land-a-job/?CFID=345212&CFTOKEN=34842412

Read this about creating the perfect elevator pitch: http://www.businessweek.com/stories/2007-06-18/the-perfect-elevator-pitchbusinessweek-business-news-stock-market-and-financial-advice?CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=i6O98o2FRHw&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=XvxtC60V6kc&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=OcvqseDHmAo&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=glrgMC0o2UI&CFID=345212&CFTOKEN=34842412

GIVE YOUR ELEVATOR PITCH: Your classmates will anonymously rate on a scale of  1-5 with 5 being GREAT IDEA and 1 being WHAT? I DON’T GET IT.

EXAM OVER BUSINESS PLANS: Work on your ONLINE BUSINESS PLAN–you will get a grade on what you accomplish this time!!

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Identify a target market by analyzing the needs of customers.
  • Explain how market segmentation can help an entrepreneur analyze a target market.

Order of Events:

  1. What is Marketing?
  2. BELL RINGER: Read the Find Your Target Market on page 95 and Who is your customer?” section on page 96 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 96-100  and be prepared to answer the following questions:
    1. What is the danger of being too focused on the product or idea?
    2. How do you determine who your customer is?
    3. What questions should you ask when identifying your target market?
    4. Why should a market be segmented?
    5. What types of data should be researched to complete a customer profile?
  4. Read the What Went Wrong section on page 99. Answer the questions in a Google Doc shared with me.
  5. On page 100 read and do the #7 Marketing section. Be prepared to share your responses.
  6. RESOURCES:
    1. 10 Questions to Ask Before Determining Your Target Market
    2. Market Segmentationa
  1.  RESOURCES:
    1. 10 Questions to Ask Before Determining Your Target Market
    2. Market Segmentation

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Netflix
  2. Netflix Hub
  3. Coca Cola Campaign

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Science of Persuasion
  2. BELL RINGER: Workbook page 27–answer them in a Google Doc. We will check them together.
  3. Read the “Get to know your market” section on page 101 and with a partner answer the question in the “Work as a team” section.
  4. Read pages 101-104  and be prepared to answer the following questions:
    1. What will investors what to see when looking at your market section of your business plan?
    2. What is the difference between primary and secondary data? Provide an example of each.
    3. What kinds of questions are typically asked in a survey?
    4. In what other situations might observation be useful?
    5. What types of questions should be asked of a focus group?
    6. Why is secondary data an important part of market research?
  5. Read the Did you know? on page 103. Did you realize this?!
  6. Most Unforgettable Ad Campaigns of 2013
  7. Read the Famous Entrepreneur section on page 102. Answer the questions in a Google Doc shared with me.
  8. Read pages 104-109  and be prepared to answer the following questions:
    1. Why is the first step in marketing research so important?
    2. How can you determine the data needed?
    3. How can data be collected?
    4. What is important to consider when developing a survey?
    5. What can you learn from analyzing data?
    6. How can you use the data from market research?
    7. Why should entrepreneurs evaluate the actions they take?
  9. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me.
  10. Bad Customer Service
  11. Read pages 107-109  and be prepared to answer the following questions:
    1. Explain CRM. What is the goal?
    2. Explain EDI.
    3. How can technology be used in the market research process?
  12. Customer Service Quiz
  13. On page 109 read and do the Teamwork section. Be prepared to share your responses.
  14. MARKET RESEARCH RESOURCES:
    1. US Census Bureau
    2. County Business Patterns
    3. Hoover’s Databases
    4. Easy Demographics
    5. Barron’s
    6. Buyers & Suppliers
    7. Greenbook–Marketing Research Companies
    8. Bureau of Labor Statistics
    9. US Securities & Exchange Commission
    10. IPL2–Online Database/Library
    11. Investigative Resource Center
  1. Science of Persuasion
  2. Take notes on how you can apply this to your business.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Read pages 101-104  and be prepared to answer the following questions:
    1. What will investors what to see when looking at your market section of your business plan?
    2. What is the difference between primary and secondary data? Provide an example of each.
    3. What kinds of questions are typically asked in a survey?
    4. In what other situations might observation be useful?
    5. What types of questions should be asked of a focus group?
    6. Why is secondary data an important part of market research?
  2. Read the Did you know? on page 103. Did you realize this?!
  3. Most Unforgettable Ad Campaigns of 2013
  4. Read pages 104-109  and be prepared to answer the following questions:
    1. Why is the first step in marketing research so important?
    2. How can you determine the data needed?
    3. How can data be collected?
    4. What is important to consider when developing a survey?
    5. What can you learn from analyzing data?
    6. How can you use the data from market research?
    7. Why should entrepreneurs evaluate the actions they take?
  5. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me. THIS IS EXTREMELY USEFUL FOR YOUR BUSINESS PLAN!

  6. In a Google Doc shared with me:
    1. Describe IN DETAIL your customer (female, 30-50 years old, $50,000 HH income, married, 0-2 children, Caucasian, little disposable income, lives in town, physically fit, etc.)
    2. Use the information found on the NETBookmark to provide real statistics about your customer in the actual market you will be conducting business–PROVIDE NUMBERS!!
    3. Explain how you will use the information to make smart business decisions.
  1. Bad Customer Service
  2. Read pages 107-109  and be prepared to answer the following questions:
    1. Explain CRM. What is the goal?
    2. Explain EDI.
    3. How can technology be used in the market research process?
  3. Customer Service Quiz
  4. On page 109 read and do the Teamwork section. Be prepared to share your responses.
  5. LOOK AT THEM/SKIM THEM. THESE ARE MARKET RESEARCH RESOURCES YOU MAY NEED THESE FOR YOUR MARKETING PLAN SECTION OF YOUR BUSINESS PLAN:
    1. US Census Bureau
    2. County Business Patterns
    3. Hoover’s Databases
    4. Easy Demographics
    5. Barron’s
    6. Buyers & Suppliers
    7. Greenbook–Marketing Research Companies
    8. Bureau of Labor Statistics
    9. US Securities & Exchange Commission
    10. IPL2–Online Database/Library
    11. Investigative Resource Center
  6. Go to the BizInnovator website and work on the Marketing Section of your Business Plan.
  7. With 5 minutes left in class, send me an email message describing what you did today and how much of your business plan you completed.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the importance of knowing and understanding your competition.
  • Prepare a competitive analysis.
  • Describe strategies for maintaining customer loyalty.

Order of Events:

  1. Marketing–Lemonade Challenge
  2. BELL RINGER: Workbook page 29–answer them in a Google Doc. We will check them together.
  3. Read the “Who is your competition” section on page 110 and with a partner answer the question in the “Work as a team” section.
  4. Read pages 110-116  and be prepared to answer the following questions:
    1. What is the US economy based on?
    2. Explain why it is important to find a market segment whose needs are not being met.
    3. Explain the difference between the 2 types of competition.
    4. How can you use secondary data resources to identify your competition?
    5. How can similar businesses compete for customers?
    6. Why do businesses need to be concerned about indirect competition?
    7. Why is it difficult for small businesses to compete with large retailers?
    8. Why is it important to understand the competition your business faces?
    9. What is purpose of a competitive analysis?
    10. How can you locate your competitors?
    11. Why is it important to know the strengths and weaknesses or your competition?
    12. How can a business use surveys to help maintain customer loyalty?
    13. What is the foundation of a successful business?
    14. What are some strategies for maintaining customer loyalty?
  5. Read the Be Your Own Boss on page 115.  Answer the questions in a Google Doc shared with me.
  6. On page 116 read and do the #5 Communication section and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 31–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 117
    2. Page 120 #22
    3. Page 121 #25
    4. Page 121 “What Would You Do” and page 122
    5. Page 123
  3. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
  4. TEST NEXT CLASS

Entrepreneurship Chapter 4 Test

  1. CLOSE EVERYTHING EXCEPT THE WINDOW OF YOUR BROWSER THE TEST IS LOCATED IN
  2. Answer all True/False and Multiple Choice
  3. Do the Numeric Section for extra credit
  4. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Chapter 4 Business Plan Work

  1. On your own, do Build Your Business Plan Project on page 121–Share it with me in a Google Doc–you will need this for your Business Plan at bizinnovator.com
    1. Share the Google Doc with me.
    2. Send the Google Form to me (or the questions for the survey can just be typed in the Google Doc, if you do not know how to use a Google Form–TAKE APPS II TO LEARN!!!)
    3. Print the Competitive Analysis (it is the 2nd page in the Word file), complete it, hand it in

Go to the http://bizinnovator.com/index.cfm site and work on the following sections in the Marketing Section:

  1. Competition Profile
  2. Customer Profile
  3. Review the Product & Service Plan and make adjustments, if necessary
  4. How to Write a Winning Executive Summary
  5. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!!
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
  1. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
  1. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344

TITAN

  1. Go to: http://titan3.ja.org/
  2. Watch the Intro video on the left
  3. Click LEARN MORE in the upper right corner and READ it
  4. Click BACK
  5. Click CLICK HERE to sign up for the FREE Public Version
  6. Fill out the forms…..here are some things to consider:
    1. WRITE DOWN YOUR ASSIGNED USER NAME
    2. Write down your password
    3. Use your school email
  7. Click FINISH
  8. Read the right side of your screen
  9. Click NEW PRACTICE GAME
  10. Leave all the settings the same
  11. Read the right side of your screen
  12. Click PLAY GAME
  13. After listening to the Board Member, click on your assistant
  14. Close the that little window
  15. Play the game once by yourself
  16. Set with a partner & play

TITAN

Lessons 1-3 Together

Play the Game

TITAN

Lessons 2-3

Play Game

Submit your Executive Summary for the contest, if you haven’t already–it needs to be a Word file.

Work on Bizinnovator. The following should be done:

  1. Read any comments provided by me.
  2. Product & Service Plan–complete ALL of it and/or update it.
  3. Management & Organization Plan–as much as you can
  4. Marketing Plan–All of it

MAKE UP DAY

Chapter Objective: Market Your Business

Today’s Goals:

  • Explain the importance of marketing a business.
  • Discuss how to develop a marketing strategy for a business.
  • Describe what information is included in a marketing plan.

Order of Events:

  1. BELL RINGER: Read the “Is a marketing plan always necessary?” section on page 126 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 125 together.
  3. Read pages 126-129  and be prepared to answer the following questions:
    1. What is the main purpose of marketing?
    2. Why is marketing important to a business?
    3. What is included in the marketing mix?
    4. Why is it important to address all parts of a marketing strategy?
    5. What are the differences between short, medium, and long term goals?
    6. Why is goal setting important when developing a marketing strategy?
  4. Read the Famous Entreprener section on page 128.
  5. Read pages 130-1131  and be prepared to answer the following questions:
    1. Why is it important to write down your marketing plan?
    2. What questions should a marketing plan answer?
    3. What kinds of information should be included in a marketing plan for a small, locally owned lawn care business?

Chapter Objective: Market Your Business

Today’s Goals:

  • Explain how the marketing concept affects decisions regarding the product mix.
  • Define and describe the importance of product management.

Order of Events:

  1. Branding
  2. BELL RINGER: Workbook page 35–answer them in a Google Doc. We will check them together.
  3. Read the “Does location affect image?” section on page 132 and with a partner answer the question in the “Work as a team” section.
  4. Viral Marketing
  5. Read pages 132-136  and be prepared to answer the following questions:
    1. Describe the marketing concept and explain why it is the preferred approach in today’s consumer-driven market.
    2. How does a business’s product mix help to satisfy customers?
    3. How does the marketing concept affect decisions made about the product mix?
    4. What are the differences in brand, package, and label?
    5. Why is product management important?
  6. Read and do the NETBookmark section on page 134. Answer the questions in a Google Doc shared with me.
  7. Snowball Effect
  8. Read the What Went Wrong section on page 135. Answer the questions in a Google Doc shared with me.
  9. On page 109 read and do #5 and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Market Your Business

Today’s Goals:

  • Identify pricing objectives for a business.
  • Calculate the price for products using various methods.
  • Discuss factors to consider when pricing services.
  • List and describe various pricing strategies.

Order of Events:

  1. BELL RINGER: Workbook page 37–answer them in a Google Doc. We will check them together.
  2. Read the “What price should I charge?” section on page 137 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 137-144  and be prepared to answer the following questions:
    1. How do you know if your price is set too high?
    2. How can each price objective be achieved?
    3. What is return on investment and how is it computed?
    4. How is market share computed?
    5. What is the market share depended upon?
    6. How can a business increase market share?
    7. How can networking contribute to a business’s success?
    8. Why is it important to determine pricing objectives before pricing goods and services?
    9. What is the difference between demand-based pricing, competition-based pricing, and cost-based pricing?
    10. When would a business mark down prices?
    11. What must a business be aware of when they are marking down a price?
    12. What are markups and markdown prices based on/
    13. What must a service business consider when setting prices?
    14. Name two strategies used in introductory pricing and provide an example of each.
    15. Explain psychological pricing and provide an example.
    16. What are the different types of discount pricing and provide examples of each.
  4. Read the Be Your Own Boss section on page 143. Answer the questions in a Google Doc shared with me.
  5. On page 144 read and do #5 and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Market Your Business

Today’s Goals:

Review

Order of Events:

BELL RINGER: Workbook page 39–answer them in a Google Doc. We will check them together.

With a partner, choose to complete one of the following TODAY:

  1. Page 145
  2. Page 149 #30
  3. Page 148 #28 AND page 149 #31
  4. Page 149 “What Would You Do” and page 150
  5. Page 151

Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Entrepreneurship Chapter 5 Study Guide

Entrepreneurship Chapter 5 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 149–share your responses with me through Google Drive
  2. Bizinnovator–work on your marketing plan….

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Describe the four basic options of channels of distribution.
  • Apply channels of distribution to the specific needs of various types of businesses.
  • List factors to consider in the physical distribution of products.

Order of Events:

  1. BELL RINGER: Read the “Avoid distribution mixups” section on page 154 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 153 together.
  3. Read pages 154-156  and be prepared to answer the following questions:
    1. What is supply chain management and why is it important? Give an example.
    2. What are channels of distribution? Give an example.
    3. What are the differences between direct and indirect channels of distribution?
    4. What are the four options for channels of distribution? Which is the most cost effective?
    5. Which channel of distribution allows more customers to be reached, but is more expensive? Explain.
    6. Which channel of distribution reaches an even larger market, but has additional costs?
    7. Which channel of distribution is most often used for global marketing?
  4. Read the Be Your Own Boss section on page 156. Answer the questions in a Google Doc shared with me.
  5. Read pages 156-159  and be prepared to answer the following questions:
    1. Why are channels of distribution different for different types of businesses?
    2. What factors are important to consider in the physical distribution of products?
  6. Read and answers questions 1-3 on page 159 in a Google Doc shared with me. Use good writing skills.

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • List the many forms of advertising and discuss advantages and disadvantages of each.
  • Define publicity and describe ways to use publicity as a promotional tool.

Order of Events:

  1. BELL RINGER: Workbook page 43–answer them in a Google Doc. We will check them together.
  2. Read the “Know the costs of promotion” section on page 160 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 160-168  and be prepared to answer the following questions:
    1. What is a promotional mix? Provide an example.
    2. What is advertising, why is it important to new businesses, and what must be considered when choosing the method of advertising?
    3. What are some different types of online advertising?
    4. What are the different ways to pay for online advertising?
    5. Why might some people overlook Internet ads?
    6. What are the advantages and disadvantages to television, radio, newspaper, telephone directory, direct-mail, transit, and social networking advertising?
    7. Why are magazines an effective advertising medium when you are trying to reach a specific target market?
    8. How can outdoor advertising be used effectively?
    9. Why is promotion important to a business?
  4. Read and do the NETBookmark section on page 163. Answer the questions in a Google Doc shared with me.
  5. Read the What Went Wrong section on page 167. Answer the questions in a Google Doc shared with me.
  6. Read pages 168-170  and be prepared to answer the following questions:
    1. What are the advantages and disadvantages of publicity?
    2. How can a company create public awareness and make its name more visible?
  7. On page 170 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Explain the role of selling in a business.
  • Determine how to meet customer needs and wants.
  • Discuss other types of promotional activities.
  • Evaluate the effectiveness of promotional campaigns.

Order of Events:

  1. BELL RINGER: Workbook page 45–answer them in a Google Doc. We will check them together.
  2. Read the “Expand the business” section on page 171 and with a partner answer the question in the “Work as a team” section.
  3. Selling Strategies
  4. Top 5 Online Promotional Strategies
  5. Promotional Mix
  6. Read pages 171-175  and be prepared to answer the following questions:
    1. Why is selling important to a business?
    2. What skills/knowledge help to make a sell?
    3. Why is it important to meet customer needs and wants in the selling process?
    4. How is determining what an individual customer needs or wants is different from market research?
    5. What is the difference between rational and emotional buying?
    6. What is the purpose of sales promotion?
  7. Read the Famous Entrepreneur section on page 174. Answer the questions in a Google Doc shared with me.
  8. Read pages 175-176  and be prepared to answer the following questions:
    1. How can you determine the effectiveness of promotional activities?
  9. On page 176 read and do #4. Be prepared to share your responses.

COMPETITION

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 47–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 177
    2. Page 180 #24 7 #25
    3. Page 180#26 7 #29
    4. Page 180 #27
    5. Page 180 #28
    6. Page 181 “What Would You Do” and page 182
    7. Page 183
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 6 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Review

Order of Events:

  1. www.bizinnovator.org
    1. make it your own!!
    2. get into it!!
    3. pretend you will actually do this!!’
  2. Test tomorrow

TAKE THE FIRST 10 MINUTES OF CLASS TO REVIEW

Entrepreneurship Chapter 6 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Go to www.bizinnovator.org and work on your business plan.

Check JMC…..my grade book is up to date…..if you have any questions, email me.

EVERFI CLASS CODE: d5b63e4f for Venture program

Intro to Bus Lesson plans & activities including business plan

GOAL: Before you leave class today you will know what a business plan is and why you need one.

  1. Go to: http://bizinnovator.com/index.cfm?fuseaction=student.previewMC&unit_id=1
    1. Create a new account
    2. 2081 is our class code
  2. Read “It’s a Dog’s Life”
  3. Watch this: https://www.youtube.com/watch?v=RoytcBiOpDI&CFID=345212&CFTOKEN=34842412
  4. Read this: http://www.forbes.com/sites/dailymuse/2013/02/14/writing-a-business-plan-4-common-mistakes-to-avoid/?CFID=345212&CFTOKEN=34842412
  5. Bookmark this page: http://articles.bplans.com/writing-a-business-plan/?CFID=345212&CFTOKEN=34842412
  6. Answer these questions, to the best of your ability, in a Google Doc shared with me to help begin to organize your thoughts about your business idea: http://www.sba.gov/content/20-questions-before-starting-business?CFID=345212&CFTOKEN=34842412

GOAL: Before you leave today you will have to opportunity to look at sample business plans and evaluate them.

  1. Watch this: https://www.youtube.com/watch?v=SMr_uLZV-eM&CFID=345212&CFTOKEN=34842412
  2. Go to: http://www.businesstown.com/planning/creating.asp?CFID=345212&CFTOKEN=34842412
    1. Click on Why Plan Your Business
    2. Go Back
    3. Click on Creating Your Business Plan
    4. Go Back
    5. Click on Outline of a Complete Business Plan
    6. Go Back
    7. Click on Developing a Business Plan
    8. Go Back
    9. Click on Rainbow Kites, Inc.–Use the Business Plan evaluation tool to evaluate it with a partner–Get it from your teacher.
  3. HOMEWORK:
    1. Go to: http://www.bplans.com/sample_business_plans.php?CFID=345212&CFTOKEN=34842412 and find a business plan resembles the type of business you are interested in starting
    2. Use the Business Plan evaluation tool to evaluate it.

TURN IN YOUR HOMEWORK

GOAL: Before you leave today you will have the opportunity to begin writing your business plan.

  1. Watch this: http://bizinnovator.com/assets/resources/BizKids/124.mp4?CFID=345212&CFTOKEN=34842412
  2. Bookmark this page to help you write the plan: http://www.sba.gov/writing-business-plan?CFID=345212&CFTOKEN=34842412
  3. Read this about how to write an executive_summary.
  4. Go to http://bizinnovator.com/index.cfm?fuseaction=student.previewMC&unit_id=1 and click on BizModel to start writing your plan. Remember this is a work in progress!!!

Shark Tank Episodes

Shark Tank Blog

GOAL: Before you leave today you will know what is meant by an “elevator pitch” and you will know why it is important.

Open this file: elevator_pitch

Read: What is an elevator pitch?

Watch:

Create:

  • Create your own 3-minute elevator pitch. Use the Presentation Tips on the 2nd page of the elevator_pitch handout.

GOAL: Finish creating your elevator pitch.

READ AND WATCH: http://www.entrepreneur.com/article/228070?CFID=345212&CFTOKEN=34842412

Read this to help you land a job: http://www.forbes.com/sites/nextavenue/2013/02/04/the-perfect-elevator-pitch-to-land-a-job/?CFID=345212&CFTOKEN=34842412

Read this about creating the perfect elevator pitch: http://www.businessweek.com/stories/2007-06-18/the-perfect-elevator-pitchbusinessweek-business-news-stock-market-and-financial-advice?CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=i6O98o2FRHw&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=XvxtC60V6kc&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=OcvqseDHmAo&CFID=345212&CFTOKEN=34842412

Watch this: https://www.youtube.com/watch?v=glrgMC0o2UI&CFID=345212&CFTOKEN=34842412

GIVE YOUR ELEVATOR PITCH: Your classmates will anonymously rate on a scale of  1-5 with 5 being GREAT IDEA and 1 being WHAT? I DON’T GET IT.

Chapter 4 Business Plan Work

  1. On your own, do Build Your Business Plan Project on page 121–Share it with me in a Google Doc–you will need this for your Business Plan at bizinnovator.com
    1. Share the Google Doc with me.
    2. Send the Google Form to me (or the questions for the survey can just be typed in the Google Doc, if you do not know how to use a Google Form–TAKE APPS II TO LEARN!!!)
    3. Print the Competitive Analysis (it is the 2nd page in the Word file), complete it, hand it in

Go to the http://bizinnovator.com/index.cfm site and work on the following sections in the Marketing Section:

  1. Competition Profile
  2. Customer Profile
  3. Review the Product & Service Plan and make adjustments, if necessary
  4. How to Write a Winning Executive Summary
  5. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!!
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
  1. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344
  1. Review the Executive Summary and make adjustments, if necessary.
    1. Go to http://jacobsoninstitute.org/quickpitch/
    2. Scroll to the bottom
    3. Click on EXECUTIVE SUMMARY–read it and be sure YOUR executive summary contains all the elements listed–YOU WILL BE GRADED ON THIS!! LET ME LOOK AT IT BEFORE YOU SUBMIT YOUR EXECUTIVE SUMMARY
    4. Go back
    5. Click APPLICATION–fill it out–here is my information: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-663-1344

TITAN

  1. Go to: http://titan3.ja.org/
  2. Watch the Intro video on the left
  3. Click LEARN MORE in the upper right corner and READ it
  4. Click BACK
  5. Click CLICK HERE to sign up for the FREE Public Version
  6. Fill out the forms…..here are some things to consider:
    1. WRITE DOWN YOUR ASSIGNED USER NAME
    2. Write down your password
    3. Use your school email
  7. Click FINISH
  8. Read the right side of your screen
  9. Click NEW PRACTICE GAME
  10. Leave all the settings the same
  11. Read the right side of your screen
  12. Click PLAY GAME
  13. After listening to the Board Member, click on your assistant
  14. Close the that little window
  15. Play the game once by yourself
  16. Set with a partner & play

TITAN

Lessons 1-3 Together

Play the Game

TITAN

Lessons 2-3

Play Game

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

A STORY ABOUT OPPORTUNITY

 

Read the following story about Opportunity Recognition:

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

FINISH:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

Day 3

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

FINISH:

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit =        $1.00

After completing a BE analysis with the above information, change the expected unit sales to 50 units.

Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

RETURN ON INVESTMENT

 

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total inflows

233

268

229

214

215

1,159

Total outflows

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Gains-Costs)/Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be typical of a new business?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

NTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

Sonic Outlaws

Visual Infringers

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

FINISH!!!

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

MAKE UP DAY

MAKE UP DAY

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business
  4. Have a Plan Stan
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Understanding the purpose of a business plan. 

  1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  3. Share your evaluation with the class.
  4. Get with a partner and repeat steps 1 – 3 above AND do the following:
    1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Write a business plan

ONLINE BUSINESS PLAN

GOAL: Write an executive summary.

Writing an Executive Summary

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

Goal: Learn how to present your business plan.

Business Plan Template

Guidelines for Judges

Judges Scoring

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR TODAY

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

-Give Your Pitch

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

  1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

  1. Primary Contact is you
  2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
  3. Upload your Executive Summary Word file.

Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

Brainstorming for Business Opportunities in Google Groups–TURN THIS IN–State the business opportunity you chose and defend why it is a good business idea. More detailed instructions are in the Google Group post.

QUESTIONS FOR SCHECKEL’S–PRINT THEM WITH YOUR NAME ON IT–Think of at least 5 question about the business–Look up Scheckel Construction on the Internet (Josh Scheckel is the owner)

Opportunity_Recognition PowerPoint

  1. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Hay In A Box Google Group Post
  2. OPPORTUNITY RECOGNITION EXAMPLE #2
    1. Mark Zuckerberg’s Facebook Story Part 1!
  3. OPPORTUNITY RECOGNITION EXAMPLE #1
    1. Sara Blakely, Speaker, Entrepreneur & Founder of SPANX
    2. Read this about Sarah Blakely
  4. Why did you learn from the video clips and articles today that you can use in your life either now or in the future?

QUESTIONS FOR SCHECKEL CONSTRUCTION

ABC’S SHARK TANK – WOULD YOU INVEST?

 

Instructions:  Go to c.

Step 1 :

Choose an available Shark Tank episode: SharkTank TV Show

Step 2:

Play the entrepreneur’s elevator pitch.  Pause the video before the investors begin asking questions.

Step 3:

Class discussion:

  • Do you think this idea has merit?  Why or why not?
  • Do you think people would purchase this product/service?
  • Would you invest in this company?  How much?  How much equity would you expect to have in the company?
  • Is there anything you would change about the product or the sales strategy that you think would improve the concept?

Assignment: Watch another episode of SharkTank TV Show (Choose SEASON 5, EPISODE 1). Write a one-page (200-250 word) report on the status of the company.  Include the following:

  • Overview of Idea
  • Outcome from Shark Tank (did the investors invest; how much?)
  • Student’s Impressions of Idea and Investment Opportunity – What would you do?
  • Where is the company today?
    • Search for company – does it exist?  Are they selling products?
  • Read Shark Tank Blog – (http://inthesharktank.com/) – this site conducts follow up interviews with entrepreneurs.

FIELD TRIP TO HORIZON LANES

THANK YOU TO HORIZON LANES–GOOGLE GROUP POST

Shark Tank Google Group Activity

FINISH: Shark Tank Google Group Activity

MAKE UP WORK

EVALUATING ENTREPRENEURIAL OPPORTUNITIES

 

Instructions:  You are to evaluate the following entrepreneurial opportunity based on four key indicators – Value, Market Potential, Team, and Profit Potential – of successful entrepreneurial venture opportunities.

The Entrepreneurial Opportunity:   A restaurant that charges for amount of time in the restaurant rather than for the food ordered.

OR

Your Entrepreneurial Opportunity 

  1. The business opportunity creates and/or adds significant value to the customer by solving a problem, meeting a special need, or provides unique benefits to the customer.
  2. The market potential for the business opportunity is large and growing, the target market(s) can be identified and easily penetrated, and the new venture will be able to effectively compete against existing competitors.
  3. You will be able to effectively lead the new venture, and you have passion for the business opportunity.
  4. The new venture has high profit potential, early free cash flow, attractive returns to investors, and modest start-up costs.
STRONG ATTRIBUTES OF AN ENTREPRENEURIAL OPPORTUNITY

 

Choose one of the following entrepreneurial opportunities or evaluate your own idea:

  • Painted light bulbs
  • Sandwiches that never get soggy
  • Wireless MP3 player
  • Digital display picture frame
  1. Significant Savings to Customers–Strong Attribute?–Yes or No–If Yes, Why
  2. Solves Serious Problem–Strong Attribute?–Yes or No–If Yes, Why
  3. Offers Convenience to Customers–Strong Attribute?–Yes or No–If Yes, Why
  4. Ability to Create Market Barrier–Strong Attribute?–Yes or No–If Yes, Why
  5. Big Upside/Low Downslide–Strong Attribute?–Yes or No–If Yes, Why
HOLIDAY INN: BEGINNINGS

 

PARTNER ACTIVITY

Assign each person in your group a job:

  1. Research the story of how Kemmons Wilson got the idea for starting the first Holiday Inn.
  2. Find out the current number of Holiday Inns and the estimated worth of Kemmon Wilson’s business today.
  3. You will present your research findings as one of the following: written reports, news broadcasts, or skits.

Web Resources:

Kemmons Wilson: America’s Innkeeper

Holiday Inn Hotels and Resorts

A STORY ABOUT OPPORTUNITY

 

Read the following story about Opportunity Recognition:

“Shannon Smith arrived at school one day in the third grade and discovered it was book fair day.  Unfortunately, Shannon had forgotten to bring any money that day.  Shannon liked to buy books, and he did not want to be left out of the fun that day.

Thinking fast, Shannon took a piece of paper out of his notebook and folded it until he made a little toy.  Then he quietly sat at his desk and played.  Soon the other kids began to watch and ask what he was doing.  He told them he was playing with his snipe catcher.  Then he offered to make them one for 25 cents.  All morning long Shannon made snipe catchers for kids in class.  When the book fair opened after lunch, Shannon had plenty of money.  In fact, he bought the tallest stack of books of anyone at school that day.”

Answer the following questions:

  1. How did Shannon know the kids would buy his snipe catchers?
  2. How do you know what your friends like and don’t like?
  3. Do your friends give you any clues?
  4. Could you use these same clues to identify possible money making opportunities in other situations?
  5. How can you evaluate money making opportunities?
OPPORTUNITY ANALYSIS

 

ASSIGNMENT: Develop three new business ideas before coming to our next class.  Suggestions:

  1. Increase sales of an existing product to a current market
    1. Improve distribution
    2. Cut prices
    3. Improved marketing
  2. Introduce existing products to a new market
    1. New geographic segment
    2. New markets
  3. Develop new products for an existing market
    1. New product
    2. Improve a current product
  4. Develop new products for a new market

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

SHOW ZACH, HILDA, DALTON, & KOLE’S VIDEOS

SHARE YOUR 3 BUSINESS IDEAS WITH ME IN A GOOGLE DOC.

Day 2

NEW VENTURE ANALYSIS

 

TEMPLATE:

Concept:

Explain the business concept

Product/Service Description:

Describe the product/service that you will provide.

Management Team:

Who might be part of your management team?  Advisor(s)?

Marketing:

List a minimum of 3 items that could be used for marketing.

Financials:

Identify the costs and revenues of this business.

Outlook:

Based on the information outlined above: What is the future outlook for this business?  Is this a viable business opportunity?

SAMPLE NEW VENTURE ANALYSIS

 

Concept:  I will be providing personal computer set-up, software installation and training to people in my neighborhood.  The name of my business will be Jane’s Computer Services; I will run the business from my parent’s home.

Product/Service Description:  I will assist customers in the set-up of personal computer systems, including initial set-up of new systems, additions of printers or scanners to existing computers, or other peripherals.  In addition, I will install software on the computer and make sure that it works with the existing hardware.  Assistance will also be provided in connecting to the Internet.  Computer software training will consist of the following programs/packages:  Windows 98 or 2000; Microsoft Office Suite including Microsoft Internet Explorer and Microsoft Outlook Express; Netscape; and Internet applications such as Windows Media Player and other downloadable applications.

Management Team:  I will be in charge of sales, marketing, and providing the computer services to my customers.  I have over six years of experience working on computers and have provided these services to my family and friends over the past two years.  I have experience with several software programs.  My mom will provide financial/accounting assistance to the business, and my dad will provide legal counsel.

Marketing:  Initially, I will provide services to residents within a 10-block radius of my home.  There are approximately 200 single-family homes, four apartment complexes, and 10 town homes in the market area.  I estimate that over 75 percent of the residents have computers or will be purchasing computers in the next year.  Many of the residents are older, so they are more likely to require these services.  The remainder of the residents are families with two working adults.  They may utilize the services because of their busy schedules and need for convenient services at a reasonable price.  The main competitor for computer hardware services is the Computer Doctor; however, they primarily provide computer upgrades and installation at their business.  They currently do not provide in-home services.  For training, the main competitor is the local community college.  They provide training on most of the popular programs.  Although the training is good, they do not provide on-going support or training in one’s home.  By providing these services to people in the privacy of their own home and being available to answer follow-up questions, I believe I can capture many customers.  The initial advertising strategy will consist of distribution of flyers to every resident in the area.  I will also send a press release to the local newspaper and may place a classified advertisement in the area shopper.  The price for my services will be $15 per hour for installation and training.  This is much lower than other businesses in my community.

Financials:  The start-up costs for this business are very low.  The primary cost is associated with the creation and distribution of the flyer.  I have my own computer and color printer.  I will produce and print the flyers at home.  The costs include a new color ink jet of $25 and paper of $10.  I will hand-deliver the flyers, so the total marketing costs will be $35.  Since the business will be operated at of my parent’s home, the only other cost will be a second phone line of $30 per month.  I will pay for the start-up costs out of my personal savings.  For the first year, I estimate sales of $150 per month (10 hours times $15 per hour).  First year profit is expected to be $1,300.

Outlook:  I believe Jane’s Computer Services has good potential because start-up costs are low and competition is limited.  If I can provide good services to my customers, they should help promote my business to others and help it grow.  The proceeds of the business will be used to save for college.

Get into groups of 3-4.  Share your 3 three business ideas with the rest of the group.  After every group member has shared, your group must evaluate the different ideas and determine which idea may have the best opportunity for a new business.

Once the business idea is chosen, your group must complete the following:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

FINISH:

  1. A short paragraph explaining the business concept.
  2. A short paragraph describing the product/service.
  3. An explanation of who could be a part of the management team.
  4. A list of a minimum of 3 items that could be used for marketing.
  5. Identify what costs and revenues would be involved in the financials.
  6. What you would see as a future outlook for this business.
  7. You will present this next class to the class. Create your presentation using one of the following:
    1. Animoto
    2. WeVideo
    3. Pixorial
    4. Prezi
    5. PowToon
    6. Google Presentation

Day 3

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class.

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.

FINISH:

Present your business idea–Caleb, Jacob, Dalton

SWOT ANALYSIS

 

“SWOT” analysis is another method to evaluate potential business opportunities.

“S”  = Strengths–The entrepreneur’s abilities and contacts.

“W” = Weaknesses–The problems the entrepreneur faces from lack of money or training to lack of time or experience.

“O” = Opportunities–Lucky breaks or creative advantages the entrepreneur can use to get ahead of the competition.

“T” = Threats–Anything that might be bad for the business, from competitors to legal problems.

Go to the following website:

SWOT Analysis: How to perform one for your organization (5:22)

SWOT Analysis–Watch the video & read/scroll as the video progresses–you can follow along

  1. After reading the information, scroll to the bottom and find two businesses (THERE ARE SEVERAL!!!), click on them, and read a completed SWOT Analysis for each.  Write a brief summary comparing and contrasting these two businesses.  Be prepared to share these with the rest of the class. SHARE THIS WITH ME IN A GOOGLE DOC

Go to the following website:

SWOT Analysis – Highly Brill Leisure Center

  1. On this website you will find an exercise.  Read the information and complete the table for Highly Brill Leisure Center–Get the table from your teacher. Do this on your own first, then I will have you pair up to see how someone else completed their’s.
BREAK EVEN ANALYSIS

 

Instructions:  Break Even Analysis is crucial in Opportunity Recognition.  To study B.E. ANALYSIS:

Watch this YouTube video: Breakeven Analysis – Charts

Go to the following website and read for understanding: Break Even Analysis

As you will notice, making a profit is necessary for a business idea to become an opportunity.

Using the BE Calculator on the Break Even Analysis website above create a break-even analysis for a lemonade stand given the following information:

Fixed Costs = $50

Variable Unit Costs = $0.10

Expected Unit Sales = 80

Selling Price per Unit =        $1.00

After completing a BE analysis with the above information, change the expected unit sales to 50 units.

Write a 200-300 word summary – Why is Break Even important in evaluating a new business opportunity?  Include a comparison of your findings from the lemonade stand example above.  In your comparison, include specific analysis of BE point, costs, and profit. Complete this using a Google Doc and share it with me: tracyweber@bellevue.k12.ia.us

RETURN ON INVESTMENT

 

Instructions: Read and evaluate the following information.  Answer the questions below.

Return on Investment (ROI) analysis is one of several approaches to building a financial business case. The term means that decision makers evaluate the investment by comparing the magnitude and timing of expected gains to the investment costs.

Decision makers will also look for ways to improve ROI by reducing costs, increasing gains, or accelerating gains

Incremental cash flow in $

Year 1

Year 2

Year 3

Year 4

Year 5

Total

Total inflows

233

268

229

214

215

1,159

Total outflows

(339)

(301)

(115)

21

61

(673)

Given:

Return on Investment = (Gains-Costs)/Costs

What is the ROI for Year 3? (Hint: To find Gains and Costs, add years 1-3)

What is the ROI for Year 4?

What is the ROI for Year 5?

What information is this telling you?  Would this be typical of a new business?

**USE THE INTERNET!! WE WILL DISCUSS YOUR ANSWERS AT THE END OF CLASS–RECORD EVERYTHING IN A GOOGLE DOC SHARED WITH ME!!!

NTELLECTUAL PROPERTY

 

Intellectual_Property PowerPoint

Does anyone download music off the Internet.  Is this like shoplifting/stealing?

What would you think if you were to write a song, perform it in a coffeehouse, and later hear it on the radio being performed by a big star who had copied the music? Is this like stealing? Why?

Read “The Loud Noise Over ‘Free’ Music,” 

How do you think the case should have been resolved. (Keep in mind that Napster was basically prohibited from carrying material that copyright holders objected to having Napster carry.)

Make a list of the pros and cons of stopping Napster and similar file-sharing systems. (As you know, Napster has been replaced by a range of other MP3 file-sharing mechanisms. The music industry has chosen several other means to enforce copyrights, including approaching colleges and suing offending individuals and non-cooperating institutions.)

Who will be able to produce new music if people cannot make money (a living) doing it?

Go to these copyright web sites and examine several copyright infringement cases:

Sonic Outlaws

Visual Infringers

Can you think of situations in the past where a new technology was developed that had the potential to infringe on copyrights? (The most obvious examples are the photocopier, the VCR, and audiocassette recorders.)

Congress passed a law requiring that every time you buy a VCR or DVD player, a small percentage of the price goes into a royalty fund. As a result, as long as you record materials individually (not serially), and you do it for home entertainment (not for profit), you do not infringe. Does this point to a possible solution with MP3 file sharing? (Maybe, maybe not.)

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)

FINISH!!!

TEST OVER ENTREPRENEURIAL OPPORTUNITIES & MAKE UP DAY

Based on what you have learned about ways to evaluate potential business opportunities, think of a unique business idea of your own. Use the SWOT Analysis, BE Analysis, and ROI Analysis to show why your idea would be successful. You may do this in any way: Prezi, PowerPoint, Google Presentation, Google Doc, Word, etc. Here is how you will be graded: Opportunity Recognition Unit Final Project–PICK 2 OF THE FIRST FOUR–EVERYONE MUST DO THE LAST ONE (INTELLECTUAL PROPERTY)–IF YOU DO ALL 5 YOU CAN EARN EXTRA CREDIT. IF YOU PRESENT YOUR IDEA TO THE CLASS YOU CAN GET EXTRA CREDIT!!

MAKE UP DAY

MAKE UP DAY

BUSINESS PLANNING UNIT

Unit Objectives:

  1. Explain the purpose of a business plan
  2. Identify the parts of a business plan
  3. Assess a business plan
  4. Construct a business plan
  5. Evaluate a business plan
  6. Present a business plan

ORDER OF EVENTS:

  1. Business Plan Introduction PowerPoint
  2. READ THIS ARTICLE
  3. BizKids Crash Course on Starting a Business
  4. Have a Plan Stan
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Understanding the purpose of a business plan. 

  1. Read a prepared business plan: Sample Business Planshttp://www.bplans.com/sample_business_plans.php
  2. After reading the Business Plan, complete a written evaluation using: the Business Plan Evaluation Guide
  3. Share your evaluation with the class.
  4. Get with a partner and repeat steps 1 – 3 above AND do the following:
    1. After choosing a business plan from the Sample Business Plans, consider role playing the entrepreneur (with costume!).  Have the class act as potential investors.  The “entrepreneur” should prepare a short 3-minute pitch or PPT to present.
  5. Identify parts of the business plan–Business Plan Graphic Organizer

GOAL: Write a business plan

ONLINE BUSINESS PLAN

GOAL: Write an executive summary.

Writing an Executive Summary

What Is an Executive Summary?

An Executive Summary is a summary of your business plan. Investors use the Executive Summary as a quick way to evaluate ideas. The Executive Summary needs to catch investors’ attention and make them WANT to read more.

A one-page Executive Summary MUST include the following:

  • Product/Service Description —This is an overview of your business idea. Promote what is unique about your business idea. What problem is being solved? How is your business solving the problem?
  • Describe key management personnel, including skills and experience—What makes you/your team qualified to start/run this business?
  • Competitive Analysis & Advantage—Describe your competitors. Identify your competitive advantage. How do you compete? (For example: price, quality, unique features & benefits, distribution, marketing/advertising, strengths/weaknesses)
  • Target Market—Who is your customer and what are their needs? How will you get your product/service into the hands of your customers?
  • Business Revenue Model—How will your business generate a profit/make money?
  • Current Stage of Business (e.g. Start-up/New or existing business)
  • What’s the Next Step for Your Business?—How will you use the seed capital if you win?

Note: If your business is already operational, you should include the history of your business, an overview of your marketing efforts, and a summary of sales and profits.

Goal: Learn how to present your business plan.

Business Plan Template

Guidelines for Judges

Judges Scoring

THIS IS YOUR TEST OVER THE BUSINESS PLAN UNIT

YOU WILL PRESENT YOUR ELEVATOR TODAY

GOAL: Create an elevator pitch.

Giving an Elevator Pitch Presentation

 

What Is An Elevator Pitch?

An elevator pitch is an overview of a business idea. The term “Elevator Pitch” comes from being able to convince someone to invest in your invention or business idea in the time it takes to ride an elevator from the bottom to top floor.

Investors often judge the quality of a business idea on the basis of the quality of its elevator pitch, and will ask entrepreneurs for the elevator pitches to quickly identify the GREAT ideas!

-Give Your Pitch

Prepare a 3 minute Elevator Pitch (use your 1-page Executive Summary or Business Plan to prepare).

Examples

Online Resources

Video

Articles

GOAL: Before you leave today you will have the opportunity to submit your executive summary in a contest! Make sure it is worthy!!

READ THIS ABOUT THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS ABOUT PAST WINNERS & AWARDS FOR THE QUICK PITCH BIZ PLAN COMPETITION

READ THIS & MAKE SURE YOUR EXECUTIVE SUMMARY MEETS ALL THE REQUIREMENTS

  1. Make sure your executive summary is saved as a Word file–just copy and paste it into a Word file, if it isn’t already–you will need to upload the file when you submit for the competition.

CLICK HERE TO SUBMIT YOUR EXECUTIVE SUMMARY FOR THE CONTEST

  1. Primary Contact is you
  2. Teacher, Email, Phone: Tracy Weber, tracyweber@bellevue.k12.ia.us, 563-872-4001
  3. Upload your Executive Summary Word file.

Send your Executive Summary to me and Mr. Meyer by sharing it with both us through a Google Doc. (Copy & paste your Executive Summary into a Google Doc & share it to: tracyweber@bellevue.k12.ia.us AND tommeyer@bellevue.k12.ia.us)

MAKE UP WORK–CHECK JMC & PAST LESSON PLANS–SUBMIT EVERYTHING THROUGH EDMODO OR GOOGLE DOCS–MIDTERM IS NOVEMBER 20

Business Ideas for Young Entrepreneurs

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. Entrepreneurial Advice from Billionaires
  2. BELL RINGER: Read page 3 and answer the 3 questions in a Google Doc–share it with me (tracyweber@bellevue.k12.ia.us). USE GOOD WRITING SKILLS!
  3. Read page 4 and we will discuss the following questions together:
    1. How do you feel about working for someone else?
    2. Do you know anyone who operates their own business?
    3. What do you know about that business?
    4. Name some businesses in our community. What needs are they meeting?
  4. With a partner, discuss what you think is the most important reason to start your own business. Be prepared to share with the class.
  5. Read pages 4-7 together. In small groups, answer the following questions:
    1. What is the definition of an entrepreneur?
    2. What do entrepreneurs try to do?
    3. Explain the difference between an employee and an employer.
    4. Why do people become entrepreneurs?
    5. What does it mean to conduct business with integrity and ethics?
  6. Use www.whitepages.com to look up the following:
    1. What are the four types of entrepreneurial businesses? Provide an example of each. Try to think of local businesses.
    2. Provide local examples of agricultural and mining & extracting businesses.
    1. Explain the growth potential for green entrepreneurs.
    2. Why are many businesses going “green”?
  7. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer this question: What are some local examples of each type of entrepreneurial business?
  8. Read pages 7-11 and watch these videos: Howard Schultz and Starbucks’ Entrepreneurial Heritage | Inc. MagazineInterview with the Founders of Home Depot by OPEN Forum
  9. In small groups, answer the following questions:
    1. How do entrepreneurs strengthen a country’s economy?
    2. Are you surprised by the number of small businesses in the United States?
    3. Explain why you think some small businesses grow into corporations like Starbucks and The Home Depot.
  10. Read the Famous Entrepreneur section & WATCH THIS VIDEO CLIP:
    1. What kinds of obstacles did Walker have to overcome to succeed in that era?
    2. Why is it important for entrepreneurs to make contributions to their community in addition to offering a product or service? Provide some local examples of this.
    3. Why do you think Madam C. J. Walker became such a successful entrepreneur?
  11. In a Google Doc to me (tracyweber@bellevue.k12.ia.us), answer these question:
    1. Describe how one of the entrepreneurs discussed in this section of the chapter recognized an opportunity to develop a successful business.
    2. Do most new businesses succeed? Explain.
    3. What are the major factors to success for a new business?
    4. What factors contribute to helping a business succeed?

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. WATCH THIS VIDEO CLIP ABOUT THE IMPORTANCE OF ENTREPRENEURSHIP TO THE US ECONOMY
  2. Observing the Small Business Code of Ethics–WATCH THIS–What does he suggest small business owners use to help them make decisions high in integrity and ethically moral? Create a Google Doc and share it with me.
  3. Critical Issues in Business Success and Failure–Watch this–Why do businesses fail? What can be done to help prepare for success? Read page 10 in your book also.
  4. Textbook page 11, Make Academic Connections: Do #5 & #7 and Think About It: Do #2 & #3 in the Google Doc. At the end of class we will share what we learned with the class.
  5. Do you have a hobby you are passionate about? Do you wish you could turn that hobby into a career? David and Wendi Kast turned their hobby into a profitable business doing what they love. Read about the Kasts’ experiences and then answer these questions in the Google Doc: What is the name of David and Wendi’s business? What convinced them to turn their hobby into a business? What was the biggest challenge they faced as they started their business?

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Identify the characteristics of successful entrepreneurs.
  • Identify the characteristics of good team members.
  • Assess whether you have what it takes to succeed in your own business.

Order of Events:

  1. Finish the lesson plan from last class. We will discuss your responses together.
  2. COMMON CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
  3. BELL RINGER: Read “Think It Through” on page 12  and with a partner, discuss the Work As A Team section.
  4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us). Create a 2-column table. In the first column list your strengths (what are you good at or what do you like to do) and in the second column, list your weaknesses (what do you need more practice or education in).
  5. Read pages 12-13 and be prepared to answer the following questions:
    1. Compare your list of strengths and weaknesses with page 13. How are you alike and different?
    2. Why is it important for business owners to stay up to date on the latest technology?
  6. Read pages 14-17 and be prepared to answer the following questions:
    1. Why are team-building skills important to entrepreneurs?
    2. What are the positive characteristics of team members?
    3. How can participation on a sports team help prepare you to become an entrepreneur?
    4. In the “What Went Wrong” section of page 15, answer the 3 think critically questions.
    5. How can a self-assessment help you determine if you are right for entrepreneurship?
    6. What are some of your interests? What businesses could be started in our community from those interests?
    7. What is the difference between interest and aptitude?
    8. What are some advantages and disadvantages to being an entrepreneur?
    9. What kinds of assessments should you make to determine if entrepreneurship is right for you?
  7. In small groups, come up with 10 possible jobs for each item on the job attributes checklist on page 16. Be prepared to share with the class.

Chapter Objective: Should You Become an Entrepreneur? Today’s Goals:

  • Define entrepreneurship.
  • Recognize the role entrepreneurs play in the U.S. economy.
  • Determine the reasons that businesses succeed or fail.

Order of Events:

  1. 3 Keys to Successful Goal Setting
  2. Finish the lesson plan from last class.
    • BELL RINGER: Workbook page 3–answer them in a Google Doc. We will check them together.
    • Textbook page 17, Make Academic Connections: Do #5–get the handout from me!!
    • Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • Identify sources for new business ideas.
  • Recognize different business opportunities.
  • Identify your own personal goals.

Order of Events:

  1. Mark Cuban Documentary
  2. BELL RINGER: Read “Find An Idea” on page 18  and with a partner, Complete the Work As A Team section.
  3. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  4. Read pages 18-19 and be prepared to answer the following questions:
    1. What should every new business do for the community in order to be successful?
    2. How important is it for a business idea to meet a need/want?
    3. How can opportunities and ideas lead to the start of a new business?
    4. How can hobbies, interests, past experiences, and discoveries or inventions may suggest the type of business to start?
  5. Read page 20 and be prepared to answer the following questions:
    1. What are some sources for investigating opportunities?
    2. What is the SBA and what is it’s purpose?
    3. Can an entrepreneur simply identify a business opportunity that appeals to them? Why or why not? What else must be done?
    4. How can you find out about various business opportunities?
  6. Read and do the Be Your Own Boss section on page 20. Respond in a Google Doc shared with me (tracyweber@bellevue.k12.ia.us).
  7. Read pages 21-22 and be prepared to answer the following questions:
    1. What is a SMART goal?
    2. Why is it important to write SMART goals?
    3. Why must financial goals be realistic?
    4. Why are financial goals important?
    5. Name some nonfinancial goals an entrepreneur may have.
  • BELL RINGER: Workbook page 5–answer them in a Google Doc. We will check them together.
  • Textbook page 22, in the Think About It and Make Academic Connections: Pick one from each section and respond in a Google Doc shared with me.
  • TEAMWORK: Group Activity: THIS MUST BE DONE TODAY!! WORK EFFICIENTLY!!! You will present today!!

Chapter Objective: Should You Become an Entrepreneur?

Today’s Goals:

  • List the six steps of the problem-solving model.
  • Describe ways to improve your problem-solving skills.

Order of Events:

  1. The Essential Skills Series – Problem solving through creativity

  2. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  3. Read pages 23-25 and be prepared to answer the following questions:
    1. What happens when an entrepreneur makes decisions casually, basing them on faulty assumptions or illogical thinking?
    2. How can a formal decision making model help business owners solve business problems?
    3. Why is it benefical to quantify the problem in step one?
    4. How can the sources you use help you gather the right information?
    5. Why is it important to identify all possibilities before making a final decision?
    6. Evaluate Dan’s problem. Can you think of other solutions?
    7. Can alternatives always be quantified by costs and benefits?
    8. What should be done once the best alternative is chosen?
    9. Why is step 6 so important?
  4. Read page 26-27 and be prepared to answer the following questions:
    1. What are some ways to improve problem-solving skills?
    2. What does it mean to be a good communicator?
    3. How can brainstorming be used?
    4. Should ideas be evaluated during the brainstorming session?
    5. What do success entrepreneurs do when they make a mistake?
    6. How can good communication skills help you succeed in business?
  5. Page 27 #4–Get with a partner & follow the 6 step problem solving processing………record your responses in the Google Doc for today.
  • Review for the test

Order of Events:

  1. BELL RINGER: Workbook page 9–answer them in a Google Doc. We will check them together.
  2. Read page 34–does this interest you?
  3. Textbook: page 33 DO IT!!! We will use this the rest of the semester!!
  4. Textbook: read pages 28-29 and do the Try It Out on page 29 in Word. Print your letter. Include a letterhead.
  5. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 1 Study Guide
  6. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

TEST NEXT CLASS

CHAPTER 1 TEST:Entrepreneurship Chapter 1 Test:

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

After the test–create a new Google Doc shared with me–read and do page 33 in your textbook

You and your partner need to get ready to share with the class your 6 Step Problem Solving solution…….SHARE IT WITH ME AGAIN!!

Watch this if time permits: Mark Cuban Documentary

Enroll in the online version of this course:  login.cengagebrain.com

Enter this code: CM-9781111964290-0000072

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Distinguish between needs and wants.
  • Describe the types of economic resources.
  • Explain the role of entrepreneurs in the U.S. economy.

Order of Events:

  1. Wants Vs. Needs
  2. BELL RINGER: Read “Do you want it or need it?” on page 38  and with a partner, complete the Work As A Team section.
  3. As a class, let’s read page 37 together.
  4. Create a Google Doc for me (tracyweber@bellevue.k12.ia.us) in which to answer today’s questions.
  5. Read pages 38-40 and be prepared to answer the following questions:
    1. What is economics all about?
    2. According to Maslow’s Hierarchy of Needs Pyramid, which needs must be met first and why?
    3. Are all needs the same for everyone? Explain.
    4. Explain the difference between economic wants and noneconomic wants.
    5. What is the difference between a need and a want?
  6. Read the NET Bookmark and do as it instructs.
  7. Economics Resources
  8. Read page 40-43 and be prepared to answer the following questions:
    1. What makes it impossible for you to meet all of your wants and needs? Explain.
    2. What is the purpose of economic resources?
    3. What kinds of resources are used for farming?
    4. What are 3 factors of production?
    5. What are some examples of natural resources?
    6. Which natural resources are unlimited? Explain.
    7. Provide examples of human resources. How do entrepreneurs provide human resources?
    8. Explain how specialization and division of labor can improve a business’s productivity.
    9. What are some examples of capital resources?
  9. Law of Diminishing Returns
    1. In our economy, what happens when supplies are limited and the demand is high?
    2. Explain the law of diminishing returns.
  10. Supply & Demand
    1. Why do some people believe that entrepreneurs are the backbone of the U.S. economy?
    2. How do entrepreneurs help meet the demands of consumers?
    3. What are some things entrepreneurs contribute to the U.S. economy?

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Distinguish between needs and wants.
  • Describe the types of economic resources.
  • Explain the role of entrepreneurs in the U.S. economy.

Order of Events:

  1. BELL RINGER: Workbook pages 11-12–answer them in a Google Doc. We will check them together.
  2. Read the “Choose between alternatives” section on page 44 and with a partner answer the question in the “Work as a team” section.
  3. Economic Systems
  4. Read pages 44-50  and be prepared to answer the following questions:
    1. What are the 3 questions all economies must answer?
    2. If all economies must answer the same questions, what makes the economies different?
    3. Who makes all the decisions in a command economy? How does that affect the consumer? Provide a country as an example of this economy.
    4. In a market economy, who makes the decisions? Provide a country as an example of this economy.
    5. Explain what a traditional economy is and where it can be found.
    6. What is a mixed economy? Provide a country as an example of this economy.
    7. How does a country’ economic system affect consumers’ product choices?
    8. How does the type of economy affect the way the basic economic questions are answered?
    9. Why do you think Paul Revere was a successful entrepreneur?
    10. How important do you think it is to have a skill that you can use when starting a business? Provide examples of skills you possess.
  5. What is the Economic System in the US?
    1. What makes our economic system different from other countries?
    2. How do capitalism and free enterprise provide freedoms for businesses?
    3. What 4 basic principles is the U.S. economic system based on? Explain each.
  6. Scarcity & Opportunity Cost
    1. How does scarcity affect what is produced and how much something will cost?
    2. What decision did you have to make recently? What was the opportunity cost to that decision?
    3. What factors affect economic choices?
    4. If you have a skill, is it important to know how to apply that skill to business? Explain and provide an example.
  7. Functions of Business
    1. What are the functions of business?
  8. Read and do the Be Your Own Boss section on page 49. Share your thoughts with me in a Google Doc.
  9. On page 50, do #5 and #7 explain how you came up with each answer.

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  • Recognize how supply and demand interact to determine price.
  • Describe how costs of doing business affect the price of a good or service.
  • Explain the effect of different market structures on price.

Order of Events:

  1. BELL RINGER: Workbook page 13–answer them in a Google Doc. We will check them together.
  2. Read the “Does supply match demand?” section on page 51 and with a partner answer the question in the “Work as a team” section.
  3. Supply, Demand, Equilibrium
  4. Read pages 51-54  and be prepared to answer the following questions:
    1. Under what circumstances might a company wish to expand or reduce production?
    2. What circumstances are you willing to buy more of a good? Less of a good?
    3. Provide examples of goods with elastic and inelastic demand.
    4. What is the equilibrium point? What does it represent?
    5. What affect do supply and demand have on price?
    6. Provide examples of fixed and variable costs.
    7. Which type of business is a higher risk–one with mostly fixed costs or one with mostly variable costs? Explain.

Look up an entrepreneur that interests you. Write 2-3 paragraphs about what you learned and share it with me.

Chapter Objective: What is the entrepreneurs role in a market economy?

Today’s Goals:

  1. Recognize how supply and demand interact to determine price.
  2. Describe how costs of doing business affect the price of a good or service.
  3. Explain the effect of different market structures on price.

Order of Events:

  1. Marginal Cost & Marginal Benefit
    1. How does the marginal benefit measure the advantages of producing one more unit while marginal cost measures the disadvantages of producing one more unit?
  2. Economies of Scale
    1. How do economies of scale affect consumers?
  3. Read and do the Want Went Wrong section on page 54. Answer the questions in a Google Doc shared with me.
  4. Market Structures
  5. Read pages 55-56  and be prepared to answer the following questions:
    1. How do the prices of products under perfect competition compare?
    2. Explain the difference between monopolistic competition, oligopoly competition and monopoly competition.
    3. What kind of competition do you think a TV manufacturer faces? Why?
    4. How does the market structure affect the price of a good or service?
  6. On page 56 read and do the Teamwork section. Be prepared to share your responses.
  7. With a partner, choose to complete one of the following TODAY:
    1. Page 57–must present today
    2. Page 60–Apply What You Learned #22 & 23
    3. Page 60-61–Make Academic Connections #24-26
    4. Page 61 What Would You Do? AND page 62
  8. On your own, do Build Your Business Plan Project on page 61.
  9. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
  10. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

TURN THIS IN:

  1. With a partner, choose to complete one of the following TODAY:
    1. Page 57–must present today
    2. Page 60–Apply What You Learned #22 & 23
    3. Page 60-61–Make Academic Connections #24-26
    4. Page 61 What Would You Do? AND page 62
  2. Read, Reflect, Write
  3. Monopoly
  1. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
  2. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 2 Study Guide
  3. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc
  4. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.
  5. Test tomorrow.

For the first five minutes: Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Entrepreneurship Chapter 2 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

AFTER THE TEST:

  1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc
  2. EXTRA CREDIT: Read page 63 and go to http://www.fbla-pbl.org/web/page/589/sectionid/587/pagelevel/2/fbla.asp and click FBLA TOPICS. Scroll to find EMERGING BUSINESS ISSUES topic and read it.

FINISH TODAY:

  1. PICK A BUSINESS IDEA OF YOUR OWN–you may use #1-6 on page 33 to help you….
    1. Page 33–DO #7-10 in a Google Doc titled: My Business Idea
    2. Page 61–DO #1-3 in the My Business Idea Doc

TURN IN YOUR HOMEWORK PAGES 33 & 61–SHARE IT WITH ME & THE HANDOUT FROM LAST CLASS.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Explain the purpose of writing a good business plan.
  • Describe the importance of a business plan.

Order of Events:

  1. BELL RINGER: Read the “Look before you leap.” section on page 66 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 65 together.
  3. Read pages 66-69  and be prepared to answer the following questions:
    1. What is a business plan and what is it’s purpose?
    2. Why would potential investors want to see your business plan?
    3. What are the 4 reasons to develop a business plan?
    4. Should lack of capital stop a great business idea from being developed? Explain.
    5. If you were a lender or an investor what would you look for in a business plan?
  4. Read the Famous Entrepreneur section on page 69. Answer the questions in a Google Doc shared with me.
  5. On page 70 read and do the #5 Communication section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • List and describe the basic elements of a business plan.
  • Describe how to pull a business plan together.

Order of Events:

  1. BELL RINGER: Workbook page 19–answer them in a Google Doc. We will check them together.
  2. Read the “Create interest in your business plan” section on page 71 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 71-80  and be prepared to answer the following questions:
    1. What are the 5 basic elements of a business plan?
    2. What should be included in the Introduction?
    3. What would the inclusion of long-term goals indicate to potential lenders and investors?
    4. What are the 3 types of business ownership? Provide an example of each.
    5. Why would lenders and investors want to know the qualifications of the leadership team and those working in the business?
    6. Why would a lender want to know the business’s competitive advantage?
    7. What should be included in the Marketing section of the business plan?
    8. What do you think should be emphasized in the marketing section: how a product is similar or different from other products? Explain.
    9. How important is it to research market conditions and prospective customers?
    10. What factors might make a difference to an investor if a business is trying to enter a declining market?
    11. Why is location important?
    12. What should be included in the Financial Management section of the business plan?
    13. Will citing potential problems hurt or help your chances of getting financing? Explain.
    14. What types of financial statements should a new business provide? How does this differ from an existing business?
    15. What should be included in the Operations section of the business plan?
    16. What will investors most like to see in this section?
    17. What is meant by harvest strategy and why would an investor want to see it in the business plan?
    18. What should be included in the Concluding Statement section of the business plan?
  4. Read the What Went Wrong section on page 57. Answer the questions in a Google Doc shared with me.
  5. Read pages 77-80  and be prepared to answer the following questions:
    1. What introductory elements need to be included with a business plan?
    2. In what order should everything be in for a completed business plan? Should you have a COVER PAGE? If so, what should be on it?
    3. What is the main purpose of the executive summary?
    4. What could be included in the appendix of your business plan?
    5. Why should you include supporting documents in your business plan?
  6. On page 80 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Describe resources available for researching your business plan.
  • Name common mistakes to avoid in business planning.

Order of Events:

  1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
  2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 81-85  and be prepared to answer the following questions:
    1. Why is it important to conduct thorough research when writing a business plan?
    2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
    3. Why is it a good idea to seek the help and advice of others when writing a business plan?
    4. What are other sources of help?
  4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
  5. Read pages 84-85  and be prepared to answer the following questions:
    1. What are the most common mistakes when creating a business plan and how can you avoid them?
  6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
  7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Describe resources available for researching your business plan.
  • Name common mistakes to avoid in business planning.

Order of Events:

  1. BELL RINGER: Workbook page 21–answer them in a Google Doc. We will check them together.
  2. Read the “Where do I start” section on page 81 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 81-85  and be prepared to answer the following questions:
    1. Why is it important to conduct thorough research when writing a business plan?
    2. What is SCORE? Would you utilize SCORE if you were writing a business plan?
    3. Why is it a good idea to seek the help and advice of others when writing a business plan?
    4. What are other sources of help?
  4. Read the Be Your Own Boss section on page 83. Answer the questions in a Google Doc shared with me.
  5. Read pages 84-85  and be prepared to answer the following questions:
    1. What are the most common mistakes when creating a business plan and how can you avoid them?
  6. Read and do the NETBookmark section on page 84. Answer the questions in a Google Doc shared with me.
  7. On page 85 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 23–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 90 #21
    2. Page 91–What Would You Do?
    3. Page 92
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 3 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Develop a Business Plan

Today’s Goals:

  • Review

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 91.
  2. Test tomorrow

Entrepreneurship Chapter 3 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

EXAM OVER BUSINESS PLANS: Work on your ONLINE BUSINESS PLAN–you will get a grade on what you accomplish this time!!

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Identify a target market by analyzing the needs of customers.
  • Explain how market segmentation can help an entrepreneur analyze a target market.

Order of Events:

  1. What is Marketing?
  2. BELL RINGER: Read the Find Your Target Market on page 95 and Who is your customer?” section on page 96 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 96-100  and be prepared to answer the following questions:
    1. What is the danger of being too focused on the product or idea?
    2. How do you determine who your customer is?
    3. What questions should you ask when identifying your target market?
    4. Why should a market be segmented?
    5. What types of data should be researched to complete a customer profile?
  4. Read the What Went Wrong section on page 99. Answer the questions in a Google Doc shared with me.
  5. On page 100 read and do the #7 Marketing section. Be prepared to share your responses.
  6. RESOURCES:
    1. 10 Questions to Ask Before Determining Your Target Market
    2. Market Segmentationa
  1.  RESOURCES:
    1. 10 Questions to Ask Before Determining Your Target Market
    2. Market Segmentation

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Netflix
  2. Netflix Hub
  3. Coca Cola Campaign

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Science of Persuasion
  2. BELL RINGER: Workbook page 27–answer them in a Google Doc. We will check them together.
  3. Read the “Get to know your market” section on page 101 and with a partner answer the question in the “Work as a team” section.
  4. Read pages 101-104  and be prepared to answer the following questions:
    1. What will investors what to see when looking at your market section of your business plan?
    2. What is the difference between primary and secondary data? Provide an example of each.
    3. What kinds of questions are typically asked in a survey?
    4. In what other situations might observation be useful?
    5. What types of questions should be asked of a focus group?
    6. Why is secondary data an important part of market research?
  5. Read the Did you know? on page 103. Did you realize this?!
  6. Most Unforgettable Ad Campaigns of 2013
  7. Read the Famous Entrepreneur section on page 102. Answer the questions in a Google Doc shared with me.
  8. Read pages 104-109  and be prepared to answer the following questions:
    1. Why is the first step in marketing research so important?
    2. How can you determine the data needed?
    3. How can data be collected?
    4. What is important to consider when developing a survey?
    5. What can you learn from analyzing data?
    6. How can you use the data from market research?
    7. Why should entrepreneurs evaluate the actions they take?
  9. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me.
  10. Bad Customer Service
  11. Read pages 107-109  and be prepared to answer the following questions:
    1. Explain CRM. What is the goal?
    2. Explain EDI.
    3. How can technology be used in the market research process?
  12. Customer Service Quiz
  13. On page 109 read and do the Teamwork section. Be prepared to share your responses.
  14. MARKET RESEARCH RESOURCES:
    1. US Census Bureau
    2. County Business Patterns
    3. Hoover’s Databases
    4. Easy Demographics
    5. Barron’s
    6. Buyers & Suppliers
    7. Greenbook–Marketing Research Companies
    8. Bureau of Labor Statistics
    9. US Securities & Exchange Commission
    10. IPL2–Online Database/Library
    11. Investigative Resource Center
  1. Science of Persuasion
  2. Take notes on how you can apply this to your business.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the role of market research.
  • Identify the six steps involved in market research.
  • Explain the role technology plays in marketing research.

Order of Events:

  1. Read pages 101-104  and be prepared to answer the following questions:
    1. What will investors what to see when looking at your market section of your business plan?
    2. What is the difference between primary and secondary data? Provide an example of each.
    3. What kinds of questions are typically asked in a survey?
    4. In what other situations might observation be useful?
    5. What types of questions should be asked of a focus group?
    6. Why is secondary data an important part of market research?
  2. Read the Did you know? on page 103. Did you realize this?!
  3. Most Unforgettable Ad Campaigns of 2013
  4. Read pages 104-109  and be prepared to answer the following questions:
    1. Why is the first step in marketing research so important?
    2. How can you determine the data needed?
    3. How can data be collected?
    4. What is important to consider when developing a survey?
    5. What can you learn from analyzing data?
    6. How can you use the data from market research?
    7. Why should entrepreneurs evaluate the actions they take?
  5. Read and do the NETBookmark section on page 105. Answer the questions in a Google Doc shared with me. THIS IS EXTREMELY USEFUL FOR YOUR BUSINESS PLAN!

  6. In a Google Doc shared with me:
    1. Describe IN DETAIL your customer (female, 30-50 years old, $50,000 HH income, married, 0-2 children, Caucasian, little disposable income, lives in town, physically fit, etc.)
    2. Use the information found on the NETBookmark to provide real statistics about your customer in the actual market you will be conducting business–PROVIDE NUMBERS!!
    3. Explain how you will use the information to make smart business decisions.
  1. Bad Customer Service
  2. Read pages 107-109  and be prepared to answer the following questions:
    1. Explain CRM. What is the goal?
    2. Explain EDI.
    3. How can technology be used in the market research process?
  3. Customer Service Quiz
  4. On page 109 read and do the Teamwork section. Be prepared to share your responses.
  5. LOOK AT THEM/SKIM THEM. THESE ARE MARKET RESEARCH RESOURCES YOU MAY NEED THESE FOR YOUR MARKETING PLAN SECTION OF YOUR BUSINESS PLAN:
    1. US Census Bureau
    2. County Business Patterns
    3. Hoover’s Databases
    4. Easy Demographics
    5. Barron’s
    6. Buyers & Suppliers
    7. Greenbook–Marketing Research Companies
    8. Bureau of Labor Statistics
    9. US Securities & Exchange Commission
    10. IPL2–Online Database/Library
    11. Investigative Resource Center
  6. Go to the BizInnovator website and work on the Marketing Section of your Business Plan.
  7. With 5 minutes left in class, send me an email message describing what you did today and how much of your business plan you completed.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Explain the importance of knowing and understanding your competition.
  • Prepare a competitive analysis.
  • Describe strategies for maintaining customer loyalty.

Order of Events:

  1. Marketing–Lemonade Challenge
  2. BELL RINGER: Workbook page 29–answer them in a Google Doc. We will check them together.
  3. Read the “Who is your competition” section on page 110 and with a partner answer the question in the “Work as a team” section.
  4. Read pages 110-116  and be prepared to answer the following questions:
    1. What is the US economy based on?
    2. Explain why it is important to find a market segment whose needs are not being met.
    3. Explain the difference between the 2 types of competition.
    4. How can you use secondary data resources to identify your competition?
    5. How can similar businesses compete for customers?
    6. Why do businesses need to be concerned about indirect competition?
    7. Why is it difficult for small businesses to compete with large retailers?
    8. Why is it important to understand the competition your business faces?
    9. What is purpose of a competitive analysis?
    10. How can you locate your competitors?
    11. Why is it important to know the strengths and weaknesses or your competition?
    12. How can a business use surveys to help maintain customer loyalty?
    13. What is the foundation of a successful business?
    14. What are some strategies for maintaining customer loyalty?
  5. Read the Be Your Own Boss on page 115.  Answer the questions in a Google Doc shared with me.
  6. On page 116 read and do the #5 Communication section and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Identify and Meet A Market Need

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 31–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 117
    2. Page 120 #22
    3. Page 121 #25
    4. Page 121 “What Would You Do” and page 122
    5. Page 123
  3. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896
  4. TEST NEXT CLASS

Entrepreneurship Chapter 4 Test

  1. CLOSE EVERYTHING EXCEPT THE WINDOW OF YOUR BROWSER THE TEST IS LOCATED IN
  2. Answer all True/False and Multiple Choice
  3. Do the Numeric Section for extra credit
  4. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

MAKE UP DAY

Chapter Objective: Market Your Business

Today’s Goals:

  • Explain the importance of marketing a business.
  • Discuss how to develop a marketing strategy for a business.
  • Describe what information is included in a marketing plan.

Order of Events:

  1. BELL RINGER: Read the “Is a marketing plan always necessary?” section on page 126 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 125 together.
  3. Read pages 126-129  and be prepared to answer the following questions:
    1. What is the main purpose of marketing?
    2. Why is marketing important to a business?
    3. What is included in the marketing mix?
    4. Why is it important to address all parts of a marketing strategy?
    5. What are the differences between short, medium, and long term goals?
    6. Why is goal setting important when developing a marketing strategy?
  4. Read the Famous Entreprener section on page 128.
  5. Read pages 130-1131  and be prepared to answer the following questions:
    1. Why is it important to write down your marketing plan?
    2. What questions should a marketing plan answer?
    3. What kinds of information should be included in a marketing plan for a small, locally owned lawn care business?

Chapter Objective: Market Your Business

Today’s Goals:

  • Explain how the marketing concept affects decisions regarding the product mix.
  • Define and describe the importance of product management.

Order of Events:

  1. Branding
  2. BELL RINGER: Workbook page 35–answer them in a Google Doc. We will check them together.
  3. Read the “Does location affect image?” section on page 132 and with a partner answer the question in the “Work as a team” section.
  4. Viral Marketing
  5. Read pages 132-136  and be prepared to answer the following questions:
    1. Describe the marketing concept and explain why it is the preferred approach in today’s consumer-driven market.
    2. How does a business’s product mix help to satisfy customers?
    3. How does the marketing concept affect decisions made about the product mix?
    4. What are the differences in brand, package, and label?
    5. Why is product management important?
  6. Read and do the NETBookmark section on page 134. Answer the questions in a Google Doc shared with me.
  7. Snowball Effect
  8. Read the What Went Wrong section on page 135. Answer the questions in a Google Doc shared with me.
  9. On page 109 read and do #5 and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Market Your Business

Today’s Goals:

  • Identify pricing objectives for a business.
  • Calculate the price for products using various methods.
  • Discuss factors to consider when pricing services.
  • List and describe various pricing strategies.

Order of Events:

  1. BELL RINGER: Workbook page 37–answer them in a Google Doc. We will check them together.
  2. Read the “What price should I charge?” section on page 137 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 137-144  and be prepared to answer the following questions:
    1. How do you know if your price is set too high?
    2. How can each price objective be achieved?
    3. What is return on investment and how is it computed?
    4. How is market share computed?
    5. What is the market share depended upon?
    6. How can a business increase market share?
    7. How can networking contribute to a business’s success?
    8. Why is it important to determine pricing objectives before pricing goods and services?
    9. What is the difference between demand-based pricing, competition-based pricing, and cost-based pricing?
    10. When would a business mark down prices?
    11. What must a business be aware of when they are marking down a price?
    12. What are markups and markdown prices based on/
    13. What must a service business consider when setting prices?
    14. Name two strategies used in introductory pricing and provide an example of each.
    15. Explain psychological pricing and provide an example.
    16. What are the different types of discount pricing and provide examples of each.
  4. Read the Be Your Own Boss section on page 143. Answer the questions in a Google Doc shared with me.
  5. On page 144 read and do #5 and the Teamwork section. Be prepared to share your responses.

Chapter Objective: Market Your Business

Today’s Goals:

Review

Order of Events:

BELL RINGER: Workbook page 39–answer them in a Google Doc. We will check them together.

With a partner, choose to complete one of the following TODAY:

  1. Page 145
  2. Page 149 #30
  3. Page 148 #28 AND page 149 #31
  4. Page 149 “What Would You Do” and page 150
  5. Page 151

Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Entrepreneurship Chapter 5 Study Guide

Entrepreneurship Chapter 5 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 149–share your responses with me through Google Drive
  2. Bizinnovator–work on your marketing plan….

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Describe the four basic options of channels of distribution.
  • Apply channels of distribution to the specific needs of various types of businesses.
  • List factors to consider in the physical distribution of products.

Order of Events:

  1. BELL RINGER: Read the “Avoid distribution mixups” section on page 154 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 153 together.
  3. Read pages 154-156  and be prepared to answer the following questions:
    1. What is supply chain management and why is it important? Give an example.
    2. What are channels of distribution? Give an example.
    3. What are the differences between direct and indirect channels of distribution?
    4. What are the four options for channels of distribution? Which is the most cost effective?
    5. Which channel of distribution allows more customers to be reached, but is more expensive? Explain.
    6. Which channel of distribution reaches an even larger market, but has additional costs?
    7. Which channel of distribution is most often used for global marketing?
  4. Read the Be Your Own Boss section on page 156. Answer the questions in a Google Doc shared with me.
  5. Read pages 156-159  and be prepared to answer the following questions:
    1. Why are channels of distribution different for different types of businesses?
    2. What factors are important to consider in the physical distribution of products?
  6. Read and answers questions 1-3 on page 159 in a Google Doc shared with me. Use good writing skills.

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • List the many forms of advertising and discuss advantages and disadvantages of each.
  • Define publicity and describe ways to use publicity as a promotional tool.

Order of Events:

  1. BELL RINGER: Workbook page 43–answer them in a Google Doc. We will check them together.
  2. Read the “Know the costs of promotion” section on page 160 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 160-168  and be prepared to answer the following questions:
    1. What is a promotional mix? Provide an example.
    2. What is advertising, why is it important to new businesses, and what must be considered when choosing the method of advertising?
    3. What are some different types of online advertising?
    4. What are the different ways to pay for online advertising?
    5. Why might some people overlook Internet ads?
    6. What are the advantages and disadvantages to television, radio, newspaper, telephone directory, direct-mail, transit, and social networking advertising?
    7. Why are magazines an effective advertising medium when you are trying to reach a specific target market?
    8. How can outdoor advertising be used effectively?
    9. Why is promotion important to a business?
  4. Read and do the NETBookmark section on page 163. Answer the questions in a Google Doc shared with me.
  5. Read the What Went Wrong section on page 167. Answer the questions in a Google Doc shared with me.
  6. Read pages 168-170  and be prepared to answer the following questions:
    1. What are the advantages and disadvantages of publicity?
    2. How can a company create public awareness and make its name more visible?
  7. On page 170 read and do the Teamwork section. Be prepared to share your responses.

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Explain the role of selling in a business.
  • Determine how to meet customer needs and wants.
  • Discuss other types of promotional activities.
  • Evaluate the effectiveness of promotional campaigns.

Order of Events:

  1. BELL RINGER: Workbook page 45–answer them in a Google Doc. We will check them together.
  2. Read the “Expand the business” section on page 171 and with a partner answer the question in the “Work as a team” section.
  3. Selling Strategies
  4. Top 5 Online Promotional Strategies
  5. Promotional Mix
  6. Read pages 171-175  and be prepared to answer the following questions:
    1. Why is selling important to a business?
    2. What skills/knowledge help to make a sell?
    3. Why is it important to meet customer needs and wants in the selling process?
    4. How is determining what an individual customer needs or wants is different from market research?
    5. What is the difference between rational and emotional buying?
    6. What is the purpose of sales promotion?
  7. Read the Famous Entrepreneur section on page 174. Answer the questions in a Google Doc shared with me.
  8. Read pages 175-176  and be prepared to answer the following questions:
    1. How can you determine the effectiveness of promotional activities?
  9. On page 176 read and do #4. Be prepared to share your responses.

COMPETITION

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 47–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 177
    2. Page 180 #24 7 #25
    3. Page 180#26 7 #29
    4. Page 180 #27
    5. Page 180 #28
    6. Page 181 “What Would You Do” and page 182
    7. Page 183
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 6 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Distribution, Promotion, and Selling

Today’s Goals:

  • Review

Order of Events:

  1. www.bizinnovator.org
    1. make it your own!!
    2. get into it!!
    3. pretend you will actually do this!!’
  2. Test tomorrow

TAKE THE FIRST 10 MINUTES OF CLASS TO REVIEW

Entrepreneurship Chapter 6 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Chapter Objective: Select a Type of Ownership

Today’s Goals:

  • List advantages and disadvantages of purchasing an existing business.
  • Describe how to evaluate a franchise opportunity.
  • List advantages and disadvantages of joining a family business.
  • List advantages and disadvantages of starting a new business.

Order of Events:

  1. BELL RINGER: Read the “How can we get this dough rising?” section on page 186 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 185 together.
  3. Read pages 186-193  and be prepared to answer the following questions:
    1. When would seeking the services of a business broker be useful?
    2. What are the advantages and disadvantages to purchasing an existing business?
    3. What should you consider when evaluating a franchise opportunity?
  4. Read and do the NETBookmark section on page 192. Answer the questions in a Google Doc shared with me.
  5. Read pages 193-195  and be prepared to answer the following questions:
    1. What are some advantages and disadvantages of entering a family business?
    2. Why is it more difficult to start a new business than to take over an existing business or purchase a franchise?

Chapter Objective: Select a Type of Ownership

Today’s Goals:

  • List advantages and disadvantages of a sole proprietorship.
  • List advantages and disadvantages of a partnership.
  • List advantages and disadvantages of a corporation.

Order of Events:

  1. BELL RINGER: Workbook page 51–answer them in a Google Doc. We will check them together.
  2. Read the “Establish ownership” section on page 196 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 196-199  and be prepared to answer the following questions:
    1. Why are sole proprietorships the most common form of business ownership?
    2. Name some of the advantages and disadvantages of a partnership.
  4. Read the What Went Wrong section on page 199. Answer the questions in a Google Doc shared with me.
  5. Read pages 200-202  and be prepared to answer the following questions:
    1. What is the main benefit of setting up your business as a corporation?
  6. Read the Be Your Own Boss section on page 201. Answer the questions in a Google Doc shared with me.
  7. On page 202 read and do #4. Be prepared to share your responses.

Chapter Objective: Select a Type of Ownership

Today’s Goals:

  • Recognize how laws promote competition.
  • Describe how entrepreneurs protect intellectual property.
  • Identify regulations that protect the public and how they affect business.
  • Describe when and how a business owner should seek legal advice.

Order of Events:

  1. BELL RINGER: Workbook page 53–answer them in a Google Doc. We will check them together.
  2. Read the “Why are there regulations?” section on page 203 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 203-207  and be prepared to answer the following questions:
    1. How do laws promote competition?
    2. How does antitrust legislation affect pricing?
    3. How can entrepreneurs protect itellectual property rights?
  4. Read the Famous Entrepreneur section on page 206. Answer the questions in a Google Doc shared with me.
  5. Read pages 207-210  and be prepared to answer the following questions:
    1. What laws protect the public?
    2. Name legal issues of which entrepreneurs should be aware.
  6. On page 210 read and do #5. Be prepared to share your responses.

Chapter Objective: Select a Type of Ownership

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 55-56–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 211
    2. Page 214 #25-27
    3. Page 214-215 #28 &  #32
    4. Page 215″What Would You Do” and page 216
    5. Page 217
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 7 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Entrepreneurship Chapter 7 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Identify options for locating a retail business.
  • Discuss factors to consider when choosing a location.
  • Identify the benefits of locating a business online.
  • Describe steps to take in selecting a site.

Order of Events:

  1. BELL RINGER: Read the “Good locations come at a price.” section on page 220 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 219 together.
  3. Read pages 220-227  and be prepared to answer the following questions:
    1. What are the advantages and disadvantages of locating a business in a shopping mall?
    2. What are the main options for locating a retail business?
    3. Why do you think the number of home-based businesses is growing?
    4. What are some of the factors to consider when selecting a location for a non-retail business?
    5. What are some benefits of having a virtual or online business?
    6. What are some of the factors you should consider when selecting a site for your business?
  4. Read the What Went Wrong section on page 226. Answer the questions in a Google Doc shared with me.
  5. On page 227, with a partner, choose to do either #5 or the Teamwork section.

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Compare purchase and lease options.
  • Describe layout considerations for different types of businesses.

Order of Events:

  1. BELL RINGER: Workbook page 59–answer them in a Google Doc. We will check them together.
  2. Read the “Store layout results in walking inventory.” section on page 228 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 228-233  and be prepared to answer the following questions:
    1. Name three kinds of commercial leases.
    2. What are the major considerations for choosing a layout for a business?
  4. Be sure to read the Did You Know? on page 230.
  5. Read the Famous Entrepreneur section on page 231. Answer the questions in a Google Doc shared with me.
  6. Read and do the NETBookmark on page 232. Answer the questions in a Google Doc shared with me.

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Explain how to find and choose vendors for your business.
  • List factors that determine the needed level of inventory.

Order of Events:

  1. BELL RINGER: Workbook page 61–answer them in a Google Doc. We will check them together.
  2. Read the “Set up shop.” section on page 234 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 234-238  and be prepared to answer the following questions:
    1. What should you consider when selecting vendors for your business?
    2. What kinds of inventory might a bakery have?
    3. Why should you keep track of your inventory?
    4. How do you determine the amount of inventory to keep in stock?
  4. Read  the Be Your Own Boss on page 237. Answer the questions in a Google Doc shared with me.
  5. With a partner, do either #5 or the Teamwork activity on page 238.

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 63–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 239 & page 242 #22
    2. Page 242 #25
    3. Page 242 & 243 #23 & #26
    4. Page 243 “What Would You Do” and page 244
    5. Page 245
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 8 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Review

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 243.
  2. Test tomorrow

Entrepreneurship Chapter 8 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Chapter Objective: Plan and Track Your Finances

Today’s Goals:

  • Estimate your startup costs and personal net worth.
  • Identify sources of equity capital for your business.
  • Identify sources of debt capital for your business.

Order of Events:

  1. BELL RINGER: Read the “Line up your financing” section on page 248 and with a partner answer the question in the “Work as a team” section.
  2. As a class, let’s read page 247 together.
  3. Read pages 248-255  and be prepared to answer the following questions:
    1. Why is the net worth of an entrepreneur important to potential investors in the business?
    2. What are some ways entrepreneurs can get equity capital?
    3. What are the pros and cons of borrowing money from family and friends?
    4. Where can entrepreneurs look for debt financing?
  4. Read the Famous Entrpreneur section on page 253. Answer the questions in a Google Doc shared with me.
  5. Read and do the NETBookmark. Answer the questions in a Google Doc shared with me.
  6. On page 255, with a partner, do #4& #5. Be prepared to share your work.

Chapter Objective: Plan and Track Your Finances

Today’s Goals:

  • Prepare a pro forma cash flow statement.
  • Prepare a pro forma income statement.
  • Prepare a pro forma balance sheet.

Order of Events:

  1. BELL RINGER: Workbook page 67–answer them in a Google Doc. We will check them together.
  2. Read the “Show me the money!” section on page 256 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 256-262  and be prepared to answer the following questions:
    1. What does a cash flow statement show?
    2. Why should a business estimate the amount of revenue it expects to earn?
    3. What does an income statement show?
    4. Name on example each of a current (liquid) asset, a fixed (illiquid) asset, a current liability, and a long-term liability.
  4. Read and do the Teamwork section in a group of 3. This is due today!!

Chapter Objective: Plan and Track Your Finances

Today’s Goals:

  • Differentiate between alternative methods of accounting.
  • Describe the use of journals and ledgers in a recordkeeping system.
  • Explain the importance of keeping accurate and up-to-date bank, payroll, and tax records.

Order of Events:

  1. BELL RINGER: Workbook page 69 & 70 (do only #1 on page 70)–answer them in a Google Doc. We will check them together.
  2. Read the “Keep it all straight.” section on page 263 and with a partner answer the question in the “Work as a team” section.
  3. Read pages 263-270  and be prepared to answer the following questions:
    1. What is the main difference between the cash and accrual methods of accounting?
    2. What is the difference between a journal and a ledger?
    3. How can you balance your checking account?
    4. Why is it important for a business to carefully estimate its taxes?
    5. What kinds of bank, payroll, and tax records do you have to keep?
  4. Read the What Went Wrong section on page 267. Answer the questions in a Google Doc shared with me.
  5. Read the Be Your Own Boss section on page 269. Answer the questions in a Google Doc shared with me.
  6. Read and do #4 & #5 on page 270 with a partner. This is due today!!!

Chapter Objective: Plan and Track Your Finances

Today’s Goals:

  • Review

Order of Events:

  1. BELL RINGER: Workbook page 71 & 72 (do only #2 on page 72)–answer them in a Google Doc. We will check them together.
  2. With a partner, choose to complete one of the following TODAY:
    1. Page 271
    2. Page 274 #24 & #25
    3. Page 274 #26 & #27
    4. Page 275″What Would You Do” and page 276
    5. Page 277
  3. REVIEW THIS STUDY GUIDE AT HOME (Click the first box at the very bottom to check it–it works even though it is a broken picture): Entrepreneurship Chapter 9 Study Guide
  4. Play the review games on this website: http://www.cengage.com/cgi-wadsworth/course_products_wp.pl?fid=M20bI&product_isbn_issn=9780538496896

Chapter Objective: Locate and Set Up Your Business

Today’s Goals:

  • Review

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 275.
  2. Test tomorrow

Entrepreneurship Chapter 9 Test

  1. Answer all True/False and Multiple Choice
  2. Do the Numeric Section for extra credit
  3. Choose 1 essay question to respond to in at least 5 sentences using good writing skills.

Chapter Objective: Select a Type of Ownership

Today’s Goals:

  • Review

Order of Events:

  1. On your own, do Build Your Business Plan Project on page 215.
  2. Test tomorrow