So, You Want to Be an Entrepreneur??

Introduction

Do you dream of being your OWN BOSS? Do you have a business idea that you believe can make millions? 

 

 

Did you know you can create a business based on your personal interests and hobbies as well as your own skill set?

 

Let's take a look at Tony Robbins talk about entrepreneurship!

https://www.youtube.com/watch?v=K8paGZRQg1A

 

After you've finished this WebQuest, you will understand what it takes to start a business, and hopefully on your way to becoming a future business owner.

 

Good Luck!!

Task

What You Will Accomplish...

 

1.  Explain the qualities and traits of a successful entrepreneur

2.  Create a business idea, including logo, name, and motto

3.  Successfully create a business plan for your idea

Process

Exercise #1:  ABC's Shark Tank

Here is an opportunity to see real-life entrepreneurs pitching his/her business.

In your group, open MS Word and answer/respond the following prompts:

1.  Why did you choose this particular episode?

2.  Discuss the entrepreneur's pitch to "the sharks". (Summary)

3.  How did they (entrepreneurs) market themselves and their product or service?

 

Below, is a link to the show:

http://abc.go.com/shows/shark-tank/episode-guide

 

Remember, you and your group are to choose only ONE episode, then ONE idea to watch (Each pitch is about 15 minutes).

 

Exercise #2: Entrepreneur Assessment

https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/business-assessments/pages/self-assessment-test-your-entrepreneurial-potential.aspx

Click the link above, and complete the assessment. It is 50 questions.After you have finished, open an MS Word document and paste a copy of your results. You may also use the screen shot feature, of you prefer. I also expect for you to provide a 1 paragraph reflection on the results you just received.  

 

Exercise: 3 Let's Brainstorm!!

 

Open a new MS Word document, and answer the following questions. Really take your time, and reflect.  

1.  Think about yourself for a minute.  Provide 1 hobby (i.e. sewing, gaming, basketball), 1 skill (i.e. carpentry, word processing, cooking), and 1 interest (the NFL, traveling, gothic literature).

2.  Now, reflect on the THREE ideas from above.  Your job is to narrow it to ONE.  Take your time!!

3.  What is it that your business will do?

4.  Get online.  Find TWO businesses that already do what you plan on doing.  Provide their web address.

5.  Where are these two companies located (see #4)?

6.  Provide one thing that you like about each of their websites.

7.  Provide one thing that you do not like, and would change.

8. After having the opportunity to review their websites, what will you do differently (FEATURE) than theirs.

9. Provide a list of no less than 5 business names and mottos

Below is a link to a name generator. It may help get the juices flowing!

https://businessnamegenerator.com/

And here are a couple of links to help with the motto!

https://www.shopify.com/tools/slogan-maker

https://smallbusiness.chron.com/make-business-motto-22822.html

https://www.verticalresponse.com/blog/7-tips-to-creating-a-memorable-slogan/

 

Exercise #4: Business Logo (Research and Design)

First, click the link below and watch the video about memorable logos.

https://www.entrepreneur.com/video/235539

Open the attached Google doc, and save a copy for completion. https://drive.google.com/file/d/1nFGiNqYyB6tWjgmBnhHt5uWo8HDx_5hO/view?usp=sharing 

1. Complete Part 1 of the document

2.  Complete Part 2 of the document. Go to  https://www.freelogodesign.org/ , and design your logo. You are going to be asked to provide an email.  I suggest using your school district account.  IN ORDER TO RECEIVE YOUR LOGO, YOU WILL HAVE TO SHARE YOUR EMAIL ADDRESS...DON'T WORRY, IT IS FREE!  Make sure and share your logo (Part 2 of shared document).

 

Exercise #5: The Business Plan (MAJOR GROUP PROJECT)

Please read and utilize the article https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan to assist you through the planning process.  Here is another link (feel free to click around) https://www.bplans.com/ . Here, you may find some similar business ideas/examples.

Now, choose a sample business similar to yours.  https://www.experthub.info/launch/business-plans/business-plan-research-and-preparation/21-free-sample-business-plans/

Now you are ready to review the key elements of the business. Click the link below.

https://www.nfib.com/content/resources/start-a-business/7-essential-sections-of-a-business-plan-49946/

Now that you are ready to create a business plan, open the attached Google Presentation template https://drive.google.com/file/d/11Weos0RM9kScfEHTMhgQ3tCmDV-T7wTE/view?usp=sharing . Following the provided template, create your own business plan, completing all sections.

Evaluation

Business Plan Scoring Guide

Name of Business:                                                                       

Name of Business Owner:

 

Business Plan Rubric

            0 = no evidence

            1 = little evidence or major flaws

            2 = adequate minimum standards

            3 = Research adequately done, minor omissions

            4 = Research well done, few minor omissions

            5 = Research exceeds standards, no omissions   

 

Cover Page

All information present, including:     

Name of the Business

Logo and Motto

Names of the owner(s)

Date

0     1     2     3     4     5

 

 

 

Executive Summary                                                 

Introduction to you, your business, and product/service

Briefly describe the company (2-3 sentences)

Target Market Basics

What business are you in?               

0     1     2     3     4     5

 

 

Company Summary                                                 

Who are you and what you do

Background information on the company  

Company Vision

0     1     2     3     4     5

Product or Service Description

What the company sells

List and describe the products or services you sell/provide

Describe how your product differentiates from competitor’s products.

0     1     2     3     4     5

 

Market Analysis Summary

Target Market Details

Who are you advertising to?

Customer Demographics (i.e. age, race, gender, education level)

0     1     2     3     4     5

 

Strategy and Implementation Summary

What do you do for your target market?

What makes your company best?

How will you develop and maintain your customer base (marketing strategies)?

0     1     2     3     4     5

 

Management Summary

How will your group own and operate your business?

Who and how will each run the business?

How will you hire future employees?

0     1     2     3     4     5

 

Financial Plan

How much money will be needed to start your business?

How will you raise or borrow the money?

How will you convince banks to invest into your business?

0     1     2     3     4     5

 

Mechanics                                                                    

Spelling, capitalization, punctuation, grammar, word choice, and sentence structure.

0     1     2     3     4     5

Format (Presentation Template)                                                        

Font size (pre-set…no need to adjust)

Separate headings

No typographical errors

0     1     2     3     4     5

 

Total

      ___/50

 

 

 

Conclusion

WELL DONE!!

 

So, you have a plan...now, we are ready to market your company!!  

 

Please submit all documentation to our Edmodo page.  Make sure to include your team's cover page.

(Insert Link Below)

 

I'd also like you to click the attached link (insert edmodo link) and complete the student evaluation survey.

Credits

Teacher Page

So, I created this WebQuest as an introduction to 11th grade business plan competition.  My hope is that the "quest" generates some buzz in the classroom prior to working independently for the spring competition.

 

NOTE: I have not made this "live" for students.  We haven't gotten there yet!  Looking forward to using it in December.