The Introduction
 will provide you with the opportunity to engage in online activities and cooperative group tasks that focus on the traits, skills and steps to owning your own business. You will be able to anaylze the characteristics of a successful entrepreneur and the steps to take in determining which particular business to establish and operate.
The Task
You and three of your peers will work together in creating a business. Each of you will play different roles in establishing the business. The different roles will complete different tasks and learn different skills necessary in creating the business. You and your group members will persuade "potential investors" to invest in your new business. You will provide the following information; the business name and purpose, description of your business, the product or service you will offer, a graph of the finance report, description of your advertising strategy, a floor plan design and cost of equipment report.
The Process
You will begin by assessing your current traits, skills and characteristics by completing this survey.
Now that you have completed the asessment you will engage in an interactive learning experience that will identify the characteristics, dreams and skills of an entrepreneur.
A lot of small businesses make the mistake of taking too much money out of their business at early stages. Will your business be able to stay afloat? You will work indepently to operate a lemonade stand that you inherited. Before you take over, you will need to design a lemonade stand using AutoShapes in MS PowerPoint and create a flyer, using MS Publisher.
Now it's time to operate your lemonade stand.
Lemonade Game Report
Income and Expense Report
The Lemonade Game Challenge
"Creating the team: It is recognized by most financial institutions that the key to success in a business start up is the management team. It is therefore important to assemble an experienced, skilful and committed group who are willing to work long hours to ensure success."-Skool.ie
The Managing Director is the highest ranked individual in the business. You will complete the business plan, oversee the task of the team and creates the final presentation.
Business Plan Basics How do you write an effective business plan? What important elements should your business plan include?
The Business Plan Download and complete
Where will we do business?
The Marketer is the promoter of the business. You will define the product or service, describe and research the target market and create a website for the business. The manager will need important information from you in order to prepare the final presentation to present to "potential investors," so he/she will need you to meet all your deadlines.
Did someone say advertising? Listen to Eddy Chavey's testimony
Why is it important to conduct market research (size up the competition)?
Identify your competition
Why is it important to determine whether your product or service is seasonal or year round?
You will use MS Publisher to create a website to advertise the products or services of the new business.
The Logistician handles the flow of supplies into, through and out of the business. You will develop an equipment price list and design floor plan/business layout. The manager will need important information from you in order to prepare the final presentation to present to "potential investors," so he/she will need you to meet all your deadlines.
Purchase Order Form Download and complete
What office furniture and equipment will the business need?
Restaurant Equipment
Buying in bulk2
Retail Store Equipment
Day Care Equipment
Family Fun Equipment
Buying in Bulk
What does the business floor plan look like?
Design your business floor plan
The Finance Officer creates accurate financial reports that are useful to the business. You will prepare an expense report. The manager will need important information from you in order to prepare the final presentation to present to "potential investors," so he/she will need you to meet all your deadlines.
What is revenue? How do you calculate real profit?
What are some examples of overhead expenses for your business?
Explanation of business expenses
What are start-up funds?
Calculate Square Footage Cost
Find out employee salaries
Listen to Rod Banks as he provides some advice to where to get start-up money.
Download and complete Finance Report
Examples of Raw Materials
Learn How to Calculate Water Bill, Electricity Bill and Gas Bill
View rates for electricity usages across states
Identify average kilowatt usages
Online calculator to calculate your business kilowatt usage
 Break-even and start-up calculator
The Evaluation
Assessment of your work will involve a check list designed for you based upon your role and set of tasks. The major components within the rubric
that I will assess your "new business" addresses mechanics, process and collaboration. You will become acquainted with the rubric in advance and you can use it as checkpoints as your work progresses.
The Conclusion
This activity was designed to teach you the traits, skills and characteristics of entrepreneurs and provide you the opportunity to work cooperatively with your peers to create your own business. If you would like to pursue this more on your own, check out these resources:
Teenvestors
Testimonies
The Business Plan
Credits
This webquest was created with the help of the following resources (located under useful links):
Buying in bulk2
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