© 2011,Brian Pinto

Entrepreneurship I. Recognize that entrepreneurs possess unique characteristics and evaluate the degree to which one possesses those characteristics. II. Analyze expanding business opportunities through globalization and technology to reach markets that were once limited solely to large corporations. III. Assess personal skills, abilities, aptitudes, and personal strengths and weaknesses as they relate to having an entrepreneurship mentality.

Essential SkillsWhat does an entrepreneur do?What planning has to take place before a business opens?How do I create a business plan?How do I find my market?

© 2011,Brian Pinto

Essential Question:

What steps do I need to take before I can be a successful entrepreneur?

© 2011,Brian Pinto

Performance Task:

Students will create their own business plan for a potential business venture.

A person who starts a venture to solve a problem or take advantage of an opportunity.

Risk Taker Perceptive Curious Imaginative Persistent Goal-setting Hard-working Self-confident Flexible Independent

Customer Relationships Entrepreneurs must be

able to make each customer feel important.

Should adopt and promote the “customer is boss” attitude throughout the company.

Important question: “How will I make my customers feel good today?”

Problems

1. 2. 3.

Business Solutions 1. 2. 3.

Train your mind to recognize opportunities and you will be a successful entrepreneur! Think of 3 problems that annoy you and a business solution for each.

Situation

1.A 100 percent increase in the price of gasoline is announced.

Business Opportunity

1.________________________________________________

Situation

2. A going-out-of-business sign is placed in the window of the local grocery store.

Business Opportunity

2. __________________________________

Situation

3. A new airport is being built near your home.

Business Opportunity

3. ______________________________________

Situation

4. The number of women entering the workforce is dramatically increasing.

Business Opportunity

4. ______________________________________

Situation

5. Three new families with children are moving into your neighborhood

Business Opportunity

5. __________________________________

Situation

6. You know a lot of people who are planning to get married.

Business Opportunity

6. ______________________________________

Situation

7. You live near a college.

Business Opportunity

7. __________________________________

© 2012,Brian Pinto

Age Sex

Personality Values

Personality Values

Where your customers live by city, area , province

Province City

At its core are two questions: "Where are we?" and "Where do we want to be?

If a company or organization does not make the best use of current resources, or foregoes investment in capital or technology, it may produce or perform below its potential.

When a firm sustains profits that exceed the average for its industry, the firm is said to posses a competitive advantage over its rivals.

A competitive advantage exits when the firm is able to delver the same benefits as competitors but at a lower cost

Low Prices - Customer Service - No Competition -Accessible -

Local?Over seas?Rural?Urban?

Who lives near the location?

Will there be an employee pull?

Are there customers to support your business near your location?

Will you trade over seas?

The organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society’s needs.

Business refers to all efforts within a society as in “American business”

Or within an industry such as “the auto business”

A business refers to a particular organization, such as Kraft Foods, Inc. or Toyota, USA.

4 Basic principles that are key to your business success

Small Business Success

Small Business Success

Sell High

Buy Low

Satisfy customer Needs

Keep Good Records

Ultimate Goal:Sell something

for more than it costs you to buy it! (or make it)

Definition of wholesaler: a business that purchases products in bulk from the manufacturer and sells

Definition of Retailer: retailers buy small quantities from wholesalers and sell single items to customers.

At each step along the road from the manufacturer to the customer, the price of the product increases

Buying a product wholesale and then selling it for double the wholesale price.

Keystoning is a good rule of thumb for covering your costs and making a nice profit. Examples for young entrepreneurs: T-shirts, watches, cologne, etc.

$3$366$6$6

Hector visited the wholesale district in L.A. and noticed a new type of MP3 Player. He bought ten and, in a brilliant move, gave five of them to the “cool” kids in school. Within days, he had sold the other five. The wholesale unit price had been $15. Hector’s price to his classmates and friends was $30. (The store’s retail price was $45) Hector eventually sold eighty of these MP3 players! Then he moved onto other products. Selling was easier than working at a fast food restaurant and was making more than minimum wage.

To figure Hector’s profit on his sales, do the calculations below:1.How much money did Hector receive from his sales of eighty MP3 players?2.How much did he spend to buy the MP3 players?3.Profit equals Total Sales minus Total Cost. What is Hector’s profit?

How many hours would Hector have had to work, at a job paying him $8 an hour, to earn as much as his profit from selling eighty MP3 Players??

Hector buys wholesale, keystones, and keeps careful track of his money.

You will make a profit in business if you do the same, as long as you are selling something people want to buy!

Research wholesale items you might be able to keystone!! Find 5 different types of items and tell me your cost and profit if you sold 80 of them.

Management guru: Peter Drucker says that “not every new small business is to be considered entrepreneurial, it should exploit changes in our world.

Drucker defines an entrepreneur as someone who “always searches for change, responds to it, and exploits it as an opportunity.”

Could that someone be you???????

A specific statement detailing what an organization intends to accomplish over a specific period of time.

Can include:SalesCompany

growthCostsCustomer

satisfactionEmployee

moraleTo serve the Students, Parents, & Staff of Santa Rosa Academy a wide variety of Snacks, Beverages, & School Supplies at a low cost.

SomethingReally Amazing!

How many employees will you begin with

How will you organize your employees?

Who will oversee which employees?

Show examples of business plans done by SRA students