What I Believe Quotes!

Forgiveness is God's Command

Everything negative--pressure, challenges, are all an opportunity for me to rise

Stand up for what you believe, in, even if you are standing alone.

Don't Give up because of what someone said.  Use it as motivation to Push Harder

Reminders for your business!

1.  Figure out if you need tables at your location.  Ask Mrs. Brake to set that up
2.  Don't forget change!  Bring at least $20 in change!  If you price your product at .25, .50, or .75, you only need to get quarters (not dimes, nickels, or pennies).   Plus, bring at least $10 in one-dollar bills
3.  Advertise the day before!  Customers forget about your business.  Your job is to remind them that it exists AND that they want your product!

Advertising Guidelines

Guidelines for Advertising around Campus:

•  Ads must be approved by teacher.  We check for spelling, grammar, etc...and make sure all the elements are on the Ad.
• Food sales Ads go up one week before event.  Workshop or Party event Ads need to be up 2 weeks in advance.  This is for your success. 
• NOTICE!  THIS IS NEW INFORMATIONS! Ads can only be placed on Middle School areas which are designated for Entrepreneurship (they say "Support your Spartan Entrepreneurs). There is one in front of the middle school office;  the other is near the faculty workroom.   You can create a monitor slide, which your teacher will forward to the correct people.
• Lower School: Stairwells and bulletin board in LS are fine, if you talk to the secretary first.  
• Only use sticky tack on painted walls.  On brick walls, you can use tape, since it leaves less of a mark.
• Lunchtime "commercials" are an option, but must receive prior approval from Dean Dokken (MS) or Mrs. Eubank (LS). You also must get permission from teacher if you are leaving a class to make the lunchtime announcement.  You cannot say, "Mrs. Brake says I need to..."  If they say no, then you cannot do it. 
• Advertisement poster or monitor slide must contain:

1. Name of Business
2. Logo
3. Slogan
4. WHAT the business is selling (the product or service)
5. Contact Information
6. Date and Time
7. Location
8. Cost
9. Must contain this phrase, for purposes of business office:      "This is an Entrepreneurship class business.  20% of the net profit will go to (fill in name of donation center you chose)"

5th and 6th grade TERMS TO KNOW!

­­­5^th & 6^TH  grade ENTREPRENEURSHIP TERMS TO KNOW!

Entrepreneurship: means developing, organizing, and managing a new business or enterprise. It also refers to "solving problems for profit"

Goods or Products:  a tangible item that you can see, touch, and sell to others

Service: work or labor performed for others in return for a fee

Start-up Costs: expenses or cash investments to start a business 

Income/Revenue:  the total amount of income earned prior to paying for expenses (and taxes)

 (Income – Expenses= Profit)

Net Profit: the income earned after all expenses are paid

  

Cost of goods: direct expenses to produce, manufacture, or purchase the products or services you sell to customers

Cost of Goods Per Unit:  the amount it costs to produce one item (for example, the cost to make one brownie...)

  

Target Market: Referring to consumers in the economy, a Target Market is the group of consumers you are aiming to sell your product or service to.  Your advertisement will reflect the type of customer you hope to entice.

Fixed Costs: Costs to a business that remain the same and are predictable. For example, rent or mortgage that has been signed by contract will remain the same.

Variable Costs: Costs to a business that can change on a regular basis (unpredictable.) For example, a lemonade stand might have to face the changed costs of lemons bases on how successful the lemon season was.

Manufacturer:   Makes the good or products

Wholesaler:  Buys products in large quantities from the manufacturer and sells to a retailer

Retailer:  Buys products in small quantities and sells them directly to individual consumers

Venture Capitalist:  An investor who either provides capital to startup businesses or supports small companies that wish to expand. Venture capitalist are willing to invest in such companies because they can earn a massive return on their investment (think "Shark Tank").

What goes on your Business Plan Powerpoint?

• Title slide--Business Name and Owners
• Slogan and Logo--how did you decide on these?  What do they represent? Show images
• Overview of the Business--How did you come up with the idea?  Was there a change of plan?
• Business Concept:  Goals and Objectives.  Be specific. Was your goal to make $25 net profit?  Was it to donate $50 to a specific good cause?
• Who was your Target Market?
• Market Research-- how did it impact decisions? (1 form for 5/6 grades, 2 forms for 7/8)
• Advertisement:  Show picture of advertisement.  Did you do a lunchtime announcement?  Where did you advertise? 
• Start-up Costs? What were they?  Where did you get the money?  Show exact amounts based on receipts or calculations
• Gross Profit and Net Profit.  Be specific.  What were your best sellers?
• Cost of Goods per unit (show the math)
• 7/8 ONLY:  Profit Margin (show the math)
• 7/8 ONLY:  How much would you pay in sales tax, if you were a real business? (Gross Profit x .075)
• Contract/ Division of Labor
• SWOT Analysis of your business (strengths, weaknesses, opportunities, threats)
• Where will you donate and why?
• What You Learned and would do differently
• 
  

Extra Notes:

PRACTICE SPEAKING AHEAD OF TIME.  DIVIDE THE SLIDES AMONG BUSINESS OWNERS.  WINNERS HAVE ALWAYS BEEN GOOD PRESENTERS.

• Your presentation will last five minutes.  Practice ahead of time, or you may be cut off.
• I don't care how many slides you use, but you need all this information in there.
• You will be speaking through the presentation.  You can use "key words" on your slides instead of typing up paragraphs.  This makes it easier for the viewer.

Get Ready to do Market Research!!

What Types of Market Research are there?  

          SURVEYS:  A set of questions designed to find out information about the Target Market's interest.  This helps the business owner make wise decisions about which products to sell  and how to market.  Surveys can be on paper, digitally sent (email), or even asked in person or over the phone.  

          FOCUS GROUPS:  A group of people are brought together to answer questions or to have a discussion, which can provide direction for the business idea.  Answers are usually more personal than a survey.  Usually videotaped or recorded in some way

        

          PERSONAL INTERVIEWS:  Unstructured, open-ended questions (not “yes or no” questions) are asked in person.  This is especially helpful in determining why a particular product is not doing well.  

OBSERVATION:   How do people really act?  What do they really want? Watching people's behavior tells you a lot!   Individual responses to surveys and focus groups are sometimes different than people’s actual behavior. When you observe consumers in action, you can observe how they buy or use a product. This gives you a more accurate picture of customers’ usage habits and shopping patterns.  (for example, on surveys, parents say they want to buy healthy cereals.  But, in fact, data shows that more parents still buy the sugary cereals).

FIELD TRIALS:   SAMPLES!  Businesses can offer samples of their product to evaluate response.  Placing a new product in selected stores to test customer response under real-life selling conditions can help you make product changes, adjust prices, or improve packaging.  (HOW COULD YOU DO THIS AT WCS?)

BUSINESS PLAN POWERPOINT

• Title slide--Business Name and Owners
• Slogan and Logo--how did you decide on these?  What do they represent? Show images
• Overview of the Business--How did you come up with the idea?  Was there a change of plan?
• Business Concept:  Goals and Objectives.  Be specific. Was your goal to make $25 net profit?  Was it to donate $50 to a specific good cause?
• Who was your Target Market?
• Market Research-- how did it impact decisions? (1 form for 5/6 grades, 2 forms for 7/8)
• Advertisement:  Show picture of advertisement.  Did you do a lunchtime announcement?  Where did you advertise? 
• Start-up Costs? What were they?  Where did you get the money?  Show exact amounts based on receipts or calculations
• Gross Profit and Net Profit.  Be specific.  What were your best sellers?
• Cost of Goods per unit (show the math)
• 7/8 ONLY:  Profit Margin (show the math)
• 7/8 ONLY:  How much would you pay in sales tax, if you were a real business? (Gross Profit x .075)
• Contract/ Division of Labor
• SWOT Analysis of your business (strengths, weaknesses, opportunities, threats)
• Where will you donate and why?
• What You Learned and would do differently
• 
  

Extra Notes:

PRACTICE SPEAKING AHEAD OF TIME.  DIVIDE THE SLIDES AMONG BUSINESS OWNERS.  WINNERS HAVE ALWAYS BEEN GOOD PRESENTERS.

• Your presentation will last five minutes.  Practice ahead of time, or you may be cut off.
• I don't care how many slides you use, but you need all this information in there.
• You will be speaking through the presentation.  You can use "key words" on your slides instead of typing up paragraphs.  This makes it easier for the viewer.