Strand 3
Entrepreneurship Principles - Students will determine skills and characteristics of entrepreneurs and explore entrepreneurial opportunities.
Standard 1
Students will be able to:
Standard 1
Students will be able to:
- Define entrepreneurship
- Describe characteristics of an entrepreneur
- List advantages and disadvantages of entrepreneurial opportunities
- Identify the basic elements of a business plan including: executive summary, company description, products/services, market analysis, strategy and implementation, organization and management team, and financial plan.
Intro to Entrepreneurship
I am often running late in the quarter and don't always take the time to do this power point, but it's a great introduction to Entrepreneurship. It was written before the updates, and does not necessarily cover all the items listed in the strand. I may update it, but it's not a huge priority right now.
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My simulation for this unit is CONSTANTLY under revision, and I have never quite gotten it to where I want it. I'm always changing it, and was unable to do it at all the second semester of 2020 due to COVID. Below I will include how I do it now, but know it's not really packaged and ready yet.
Badge Unit
This unit takes about two weeks to complete. I usually plan it so that I have at least three weeks of the semester left after I finish this unit. In the fall, I always plan it so that the students sell their badges right before Christmas. Students are placed into groups--though the groups are rather lose, as students work rather autonomously within their group and are responsible for all their own designs and sales.
In order to do this project, you will need:
- Student access to Microsoft PowerPoint for designs. Some of my students use Photoshop and Illustrator, but only if they already know those programs, as I do not have the class time to teach design principals
- Access to Google Sheets
- At least one badge machine (I get mine from Badge-a-minut) and supplies for the badges. I get my supplies at Usabuttons because they are compatible and much cheaper, though they don't have all the same types. I suggest you start with the size 2" pins.
- As you expand, you can get different machine sizes and badge types. My students choose from 1,2, and 3 inch badges and they can make pins, magnets, key chains, and spinners. The key chains were VERY popular but they are more expensive to make. The 1 inch magnets are popular too because they are great for refrigerator magnets and make a great personalized gift!
- Cutting machines to cut the badges out--you can get the cheaper cutters, but I splurged and got the big electric ones and it is SO worth it. I also got a 1 inch punch from USA Buttons which I love
- Permission from your administration to have students sell badges and to collect money. I DO NOT COLLECT ANY CASH. Students are responsible for their own cash.
Each group has one Business Plan that is in Google. I just create copies for each group and then they share it with each other. They are responsible for filling it out and keeping track of their sales. There is a sheet for each of them to keep track.
Students begin with the value of $1.50 in free badge supplies. They fill out which types they want on the sheet. When they make their first sales, they earn a profit--they can then use this profit to invest in buying more badge supplies. They buy them at the main office, so I never have to deal with the cash. They come back with a receipt and I fill their order with badge supplies. From then on it's up to them. In this way, though, once you have your startup you won't really have to invest more money into this project--their production cost will be enough to replace supplies as needed.
I give students a limited time to sell badges. Then a few days to make and deliver them, and then they do a few graphs and analyze their return, and we're done. It only takes two weeks. I will be posting more on this later on.
Students begin with the value of $1.50 in free badge supplies. They fill out which types they want on the sheet. When they make their first sales, they earn a profit--they can then use this profit to invest in buying more badge supplies. They buy them at the main office, so I never have to deal with the cash. They come back with a receipt and I fill their order with badge supplies. From then on it's up to them. In this way, though, once you have your startup you won't really have to invest more money into this project--their production cost will be enough to replace supplies as needed.
I give students a limited time to sell badges. Then a few days to make and deliver them, and then they do a few graphs and analyze their return, and we're done. It only takes two weeks. I will be posting more on this later on.