4.  Entrepreneurs are the “risk takers” of the American economy.  Without these “risk takers” many businesses and corporations that comprise the backbone of this country’s financial system would cease to exist.

5.  Your task is to develop a fictional company which specializes in one particular product and create a 8-10 page written/typed Business Plan for that business/product and create a Group Persuasive Presentation (10-15 min.) using technology.

6. A. Rough Draft Outline portion of this project (individual assignment)-50 points-Summative B. Written Business Plan completed (Group assignment)-50 points- Summative c. YOUR BUSINESS PROPOSAL (the END product): You and your partner(s) will be creating a business proposal. D. Present your business proposal (10-15 minutes) to “The Sharks” (class, teachers)-100 points- Summative  Make sure you look over the rubrics for this project!

7. Day #1: Rough Draft Outline (Individual Assignment)

8. Section One: Key Business Vocabulary Directions: Define in a COMPLETE SENTENCE the key terms relating to business. Everyone must complete an Individual outline, although you can discuss and/or divide work up and Share answers as a TEAM.  You must use ALL 28 words in your final presentation

9. Section Two: Key Business Questions related to your product/business. Criteria: ALL five questions are answered in a well- crafted, detailed and thoughtful paragraph (At least 5-6 sentences).

10. Project Timeline Rough Draft Due: Next week; before you leave from break. Business Plan and Presentation Due: The Day you present to class. Presentation Week: January 7 th -14 th We will take volunteers first. Draw teams/businesses next.  If you are not ready to present ON TIME-Automatic one grade deduction on plan and presentation

11. Class Schedule for Project This week and next week: Day # 1: Rough Draft Outline Day #2: Business Plan (Chrome Book Lab) Day #3: Business Plan and Presentation (Chrome Book lab)  This gives us four hours in class before break! After break: (Jan 7/8): Day #4: Finish up Project (Chrome Book lab) Total hours in class: 5.5

12. Day #2: The Business Plan (Group Assignment)

14. A Business Plan…… To create a successful business, you need to have a plan to follow. You will Use your Business Plan to help create part of your presentation to “The Sharks” (A Classroom Panel).

15. What is a business plan? A formal document that shows: –Company Name –Product –Market –Business model –Long-term goals, etc. It’s what you would show a potential investor in order to convince them to give you $$. It should be 8-10 pages in length.

16. Criteria:  Can work (should-lots of work to be done here!) in groups of 2-4  NO MORE THAN FOUR PER GROUP (No exceptions)  Everyone must contribute/type up part of the plan  Must be computer generated  12 pt. size  Single/double spaced (where applicable)  AT LEAST 8 PAGES (including “Cover page” and “Table of Contents”)  See rubric for specific criteria to receive full points

17. Components of your business plan: Cover Page Table of Contents Executive Summary: Product Marketing

18. I. Cover Page: Business/Product Name Company logo Name(s) of the student(s) School Teacher Date

19. II. Table of Contents One page -Include the major sections of the plan and page numbers.

20. III. Executive Summary: A one page clear overview of the business High light these key areas of your plan: Business/Service Description An overview of your business/service and what it will do. Include: Legal form (partnership, corporation, etc.) Mission statement Goals & objectives Management Team

21. IV. Product Describe the good(s) and/or service(s) your business will provide. What need does the product/service meet for customers? What is unique about the product/service? Barriers to entry and strategies to overcome barriers Market Analysis Provide research indicating market size and potential for growth. Target market – describe your customers (age, gender, income, etc.) Competition – describe competitors and their strengths and weaknesses.

22. V. Marketing: How will you reach your customers and your sales goals? Marketing Mix (Radio, Television, Print etc.) Product/Service Price Promotion(s)

23. Business Plan Resources: http://www.allbusiness.com/writing-small- business-plan/16689921-1.htmlhttp://www.allbusiness.com/writing-small- business-plan/16689921-1.html http://www.sba.gov/category/navigation- structure/starting-managing-business/starting- business/writing-business-planhttp://www.sba.gov/category/navigation- structure/starting-managing-business/starting- business/writing-business-plan http://www.ehow.com/list_7199584_tips-writing- business-plan.htmlhttp://www.ehow.com/list_7199584_tips-writing- business-plan.html http://ezinearticles.com/?5-Tips-To-Writing-A- Good-Business-Plan&id=5507982http://ezinearticles.com/?5-Tips-To-Writing-A- Good-Business-Plan&id=5507982

25. Presentation Essentials: A synopsis of your business plan. Type of Business Market, industry, and competition analysis. Financing Market, Advertising and Product Distribution. Operation (Nuts and Bolts).

26. Essential Element #1: Synopsis of Business Plan  Develop a business plan that outlines what your business will do, your staffing needs (labor), your sales and marketing approach.  How much start-up financing you will need?

27. Essential Element #2: Type of Business  What type of business do you plan to create?  Decide what type of business you will create and explain the reasoning behind your decision.

28. Essential Element #3: Market, Industry, and competition Analysis  What kind of competition exists in the market and what would you need to get your business started in this market?

29. Essential Element #4: Financing  How much money do you need to start this business venture?  After the initial money (which you hope to get from the “Shark”) to receive, how else are you going to finance your business?

30. Essential Element #5: Marketing, Advertising and Product Distribution  How will you get people to know your business exists?  How will you market your product/service and advertise it to your target audience?

31. Essential Element #6: Operation (Nuts and Bolts)  How is your business going to be set up? Will your business be set up in a specific location or will it be online?  Also, you need to be prepared for the operational “pitfalls” so that if something happens that hurts your business you have a plan to bounce back and recover  Remember “The Sharks” will ask you questions!