Intro to Busn/Personal Finance Entrepreneurship


Learning Goal:

  • Students will understand the importance of small businesses in our economy
  • Students will understand what an entrepreneur is, their traits, and reasons to become an entrepreneur
  • Students will understand the pros and cons of small business ownership
In class, we'll cover the following sections from our book using the links and materials below.


lemonade stand

We will be using Socrative to answer questions throughout the lesson. Use the link to go to my room and enter BRAINERDA220. We will be covering chunks from the following sections of your book:

Small Business

small business
How many employees does a business need to have to be considered "small"? We'll use Socrative and let you weigh in. We will look at the size standards PDF from the SBA (Small Business Administration). 

We'll use this link (SBA Small Busn Profile, top stats & industry stats) and your book (linked above) to look at small business statistics. We'll also talk about requirements to be considered a small business, how small businesses contribute to job creation, opportunities for individuals & minorities, and innovation. 

How do you define innovation? Talk with someone around you. Your book highlights Burt’s Bees as an innovative company. We'll check out this short CNBC How I Made My Millions video profiling their story. Do a search for an innovative small business and discuss what you found with someone close by. Be ready to share. 



Entrepreneurs


We'll hear what Steve Jobs has to say about entrepreneurship. 

What does it mean to be an entrepreneur? Look over this article and pick out the definition you like the best. Share with someone close by. Have you seen the movie Robots

Your book (linked above) lists three categories of entrepreneurs. Work with one other person, you can move if you need to and then go back, to find an entrepreneur that fits into each category (so three entrepreneurs). Add the
steve jobs
 name of the entrepreneur and why you feel they fit in that category to this collaborative page. Which Categories of Entrepreneur would you fall into? Use Socrative to answer. 

We'll use your book to talk about traits common to most entrepreneurs. Which Traits of an Entrepreneur do you have? Use Socrative to answer. 

Do you have the entrepreneur gene? Take the quiz to gain some insight, but don't let it ruin your dreams. 

Why do people become entrepreneurs? There could be many reasons, but we'll look at this article for a few examples. We'll also read the Steve Jobs quote under number one. Which is most attractive to you?



Pros and Cons of Owning a Small Business

We'll use your book (linked above) to look at the advantages and disadvantages of small business ownership. Which Advantages of Small-Business Ownership do you like best? Which Disadvantages of Small-Business Ownership might stop you? Use Socrative to answer.  

Why do small businesses fail? Hit the web and find some reasons. Also, find a business or product launch that failed. Did any of the reasons you found contribute to the failure? Work and talk with someone close by. Add your info to this collaborative page. Be ready to share. 

We may check out the video on one of Nintendo's biggest failures (stop at 4:03). We may look at Milton's story as well. 



Innovation Challenge

light bulb

CHANGE NO DOC??

Entrepreneurs are innovative. They are able to come up with new ideas and solve problems creatively. Follow the directions below to complete this innovative challenge. 

#1 Break into groups of four to six. You must join a group. Use the supplies you were given (5 sheets of paper, tape, scissors, a writing utensil) to create the next fidget to sweep across schools. 

#2 After you have finished building your million dollar fidget, create a Google Doc or Drawing that includes the items below. Share this doc/drawing as a shareable link (Share --> Get shareable link --> click on dropdown --> click on More ... --> choose Anyone with the link can view). 
  • Your fidget's name
  • Group member first and last names
  • A picture of your fidget
  • A brief description
#3
Use Flipgrid to pitch your idea to the world (other groups). Add a video about your fidget that provides more detail, instructions, or a demo. You are selling the features/benefits. We'll talk briefly about an elevator pitch (what is it & why people need it), using Flipgrid (overviewshort tutoriallonger tutorialapp), and expectations (school appropriate). Someone in your group can download the Flipgrid app to record your video, or you can use your Chromebooks. 

flipgrid example
#3.1
 On Flipgrid, add your fidget's name as your video's Display Name, group member names as the Title, and add the shareable link to your Google Doc/Drawing you created in step two in the Link space. There should only be one submission per group. We will use a test student account to look at an example.

We may vote on one winner, who will receive a popcorn prize (one winner among both sections).

Use this link to join my grid for Intro to Business/Personal Finance. Here is the link to the Innovation Challenge Topic (d1c69c3e code to join). 

#4 Talk to me when you are finished for feedback and credit (15 Pts). 

Guiding Questions: Did you complete all the requirements? What is the quality/effort of your fidget? How creative/innovate it your fidget? How much did you contribute to the group?