Entrepreneurship Unit 3 Lesson 2 Goals Students can identify resources for new business ideas Students will recognize different business opportunities Students will identify their own personal goals ID: 782062
Download The PPT/PDF document "How to Create an Effective Business Plan" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
How to Create an Effective Business Plan
Entrepreneurship
Unit 3, Lesson 2
Slide2Slide3Goals
Students can identify resources for new business ideas.
Students will recognize different business opportunities.
Students will identify their own personal goals.
Slide4Terms
Small Business Administration
Small Business Development Center
Service Corps of Retired Executives
Trade Association
Slide5Research the Business Plan
The first step of developing a business plan is to be able to convince the reader that you have a practical business idea. Some issues that must be researched include
A location for business,
The equipment /supplies that you will need,
The competition, and
The pricing of product/service.
Slide6Research the Business Plan
Community, Government, and Professional Resources
Small Business Administration (SBA)
Provides management assistance for current and prospective small business owners.
Provides financial assistance.
Provides counseling and training for small business owners.
Provides disaster assistance
Provides a voice for small businesses on legislative issues.
Slide7Research the Business Plan
Community, Government, and Professional Resources (Continued)
Small Business Development Centers (SBDC)
Counselors provide free one-on-one assistance in developing a business plan
Provide inexpensive workshops on topics to help develop a business plan
Formed as a cooperative effort of the private sector, educational community, and federal, state, and local governments
Enhance economic development by providing small businesses with training and technical assistance
Slide8Research the Business Plan
Community, Government, and Professional Resources (Continued)
Service Corps of Retired Executives (SCORE)
More than 10,500 retired executives who volunteer their time to provide entrepreneurs with real-world advice and knowledge
Set up a meeting with a SCORE volunteer, work with a SCORE volunteer over the Internet, or attend a workshops sponsored by SCORE
Slide9Community, Government, and Professional Resources
Chamber of Commerce – A local organization of businesses whose goal is to further the interests of business.
Trade Associations – Organizations made up of professionals in a specific industry.
Professional Consultants – Paid professionals who provide guidance.
Financial Institutions – Local banks can provide counseling and financial assistance.
Slide10Print Resources
Books
Magazines
Government Documents
SBA Publications
Slide11Online Resources
Websites
SBA
www.sba.gov
SBDC
www.sba.gov/aboutsba/sbaprograms/sbdc/index.html
SCORE
www.score.org
Slide12Mistakes in Business Planning
Unrealistic Financial Projections
Undefined Target Market
Poor Research
Ignored Competition
Inconsistencies in the Business Plan
Slide13Assignments
Inform Assignment #1
Split the class into five groups. The five groups will use the Internet to research SBA, SBDC, SCORE, the chamber of commerce for your community, and professional organizations representing the career interests in that group of students. Each group is responsible for teaching the class about the organization they have researched. Digital group presentations will be evaluated using a rubric.
Location, Location, Location Assignment #2
The success of a business depends heavily upon the location. The business must be located conveniently for the target market. The location should be easily accessible by traffic going both directions. There should be plenty of parking spaces available in a well-lighted parking lot. There should be a high level of consumer traffic flow daily. Ask students to select an available business location in the community, conduct research, observe the location, and write a report explaining why the location is a good/poor choice for a business. The report will be evaluated using a rubric.
Entrepreneurship Newscast Assignment #3
Ask students to locate two articles in the library or on the Internet about successful entrepreneurs and write the Top Ten Points for each article. Students will share their information in class, using digital presentations for their newscasts. Digital presentations will