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Course 3: Entrepreneurship ← Back to All Pages

Mr Lord. M.Ed.

Welcome to Entrepreneurship.

Day One:

  1. Class List
  2. Logging in to Network
  3. Saving to Network 
  4. Acceptable Use Policy
  5. Fire Alarm Rules
  6. Plaigarism Rules.

 

Middle States Goals:
Reading

Students will improve their performance on Standards 1.1, 1.2, and 1.3: Comprehension, Reading Skills, and Reading, Analyzing and Interpreting literature.

Math
Students will improve their performance on Standard 2.5: Mathmetical Reasoning and Communication.

Building Climate Goal
Improve the sense of ownership of school climate and school pride (administrators, teachers, support staff, students and parents), regarding self, other people, property, school and community.

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Resources:
We have Entrepreneur videos on:
Dave Thomas (Wendys)
Bill Gates (Microsoft)
Sam Walton (Walmart)
Colnel Sanders (KFC)
McDonalds

Useful Online links:

http://www.sbtv.com/
http://www.nfte.com/
http://careers.deloitte.com/vtchs/
http://www.entre-ed.org/_teach/activits.htm
http://home3.americanexpress.com/smallbusiness/tool/biz_plan/index.asp
www.startupjournal.com

 

 

Intro to Entrepreneurship

 

Definitions:

Entrepreneur: Person who owns, operates and takes the risk of a business.

Entrepreneurship: The process of running a business of one's own business.

Employees: People who work for someone else.               

The vast majority of businesses in the United States are small businesses that employ fewer than 20 people.
See stats worksheet....

Goods and Services

Entrepreneurs provide goods or services.  Goods are tangible products while Services are intangible and represent the largest, fastest growing segment of the small business economy.  Examples of people who provide services include Doctors, Barbers, Accountants, Dentists etc.

 Profit:

Seventy five percent of small businesses made a profit last year while twenty five percent ran at a loss.  Profit is what is left after all the expenses of running a business have been deducted from income.

 Competition:

Competition forces businesses to become more efficient in order to survive.  This in turn keeps prices down and quality up. 

 Supply and Demand:

When the price goes up demand goes down.  Producers are more willing to supply products in greater amounts when prices are high. They are less willing to do so when prices are low.  Supply and demand are dynamic in the marketplace – that is, they are continually shifting.



 Read Chapters 1 and 2.

Complete Unit 1 Worksheet. (50 Questions - Open Book).


Review Chap 1 for Quiz

Read pages 31 to 34 with students first half of class.
Distribute "Characteristics" worksheet.
Watch video on Dave Thomas owner of Wendys.


Read "The Laws of Supply and Demand" with students.
Students review the rest of Chap 2 For Quiz

Use - Self Assessment Questionnaire: Activity 2-A
Review using Evaluation Visual 2-4.

Prep for Quiz on Chapter 3 "Characteristics of an Entrepreneur".


Chapter 5 - Math for Entrepreneurs:
Define: Revenue, Sales, Cost of Goods Sold, Gross Profit, Operating Expenses, and Net Profit.

Read Chapter 5 and complete the 15 Practice questions.

Complete the "Swim World" assignment.


Read Chapter 7 with students - No Quiz.

Have students read Chapter 8 and complete "Reviewing Vocab" assignment on page 106.
Quiz on Chap 8.





Business Plan Template:

Distribute and discuss Business Plan Template:

Type of Business:
Manufacturing              2 examples
Wholesaling                 2 examples
Retailing                      2 examples
Service                        2 examples

Self Analysis:
Creative Solution Games
Videos + Reading
Personal Characteristics; Common Characteristics; Risk Takers etc.

Suggested Topics:
Italy
Greece
Ireland
Germany
Scotland
France
Africa
Isreali

Students are to write a Mission Statement for their company.

Market Size and Start Up Costs

What is a Business Plan?

What is the potential size of your US market in terms of:
Current sales in dollars?
(How much is spent annually in the US on clothing - What is population of US)?
Sustainability and/or Growth for industry and/or segment?
Number of potential customers for your segment?
Geographic Concentrations.

Create a Business Plan Cover Page
Company Name, Company Logo - Address - Web Site Address - Phone - Tag Line etc.

Executive Summary -

What are Start up costs? Page 252
What are Operating costs?

How do we calculate start up costs?
List all start up costs
List all operating costs (first 12 months).

 

Business Description:

In this section we will create a detailed business description for our Business Plan. Remember that the bankers controlling the purse strings will be reading this to decide if you get the loan to start the business so try to make your idea sound GREAT.

An overview of your industry
A discussion of your company
Descriptions of your products/services
Your positioning
Your pricing strategy

The Market

Customers


Market Size and Trends


Competition

See this link for a SWOT Analysis

Estimated Sales


Marketing Material.

Wednesday - Students will create Business Cards using the MicroSoft Publisher desktop publishing software.

On Thursday and Friday - students are to create Tri Fold Business Brochures using the MicroSoft Publisher desktop publishing software.
http://www.powerhomebiz.com/vol134/brochure.htm
http://www.allgraphicdesign.com/broch.html

Students should also be aware that as well as creating documents in class there will be a pop quiz on early next week. The quiz will be worth 25 points and students are advised to read Chapter 11 in our red Entrepreneurship book as the best means of revision. All the questions will be based on the content of Chapter 11. Students should concentrate on the areas concerning the "Marketing Mix" (also known as the 4 P's) - "Distribution" - "Pricing" etc..

Cover Lessons

On Wednesday and Thursday students are to prepare a website for their business.

Remember to save your work properly. I would suggest creating a new folder inside your network folder called "My Website". Save your website files there. To test that you can save properly do a little work, save it into your new folder then log off. When you log in, open Publisher, navigate to your new website folder and open your file. All your pages should be there.

If you have a problem saving, for example, your network folder is not available, then simply save the file to the desktop and log off. When you log on again your web files will be on the desktop and your network folder will be available. At this point you can now open the file from the desktop and then save into your network folder.