Introduction The purpose of the Small Business Project is to take what you have learned in Macroeconomics and apply it to a real situation in Microeconomics.Each team of up to three people will take on the roles of Entrepreneur, Accountant and Marketer to build a real business from scratch using minimal capital resources ($1500) and your most bountiful resources, time and imagination.There will be a team component as well as individual components to complete this project.
As we work on the Small Business Project we will be meeting in the Library on some days and on other days we will be in the classroom.We will introduce you to wikispaces, which is a web based type of medium that allows students to work both from at home and at school.Your team members can work at their own pace to complete their assigned tasks.They can update information from home on both the individual parts and the team parts.No need to use your H-drives or any other type of digital media.You will all be linked together using wikispaces.
Getting Started
1. Each team of up to three students will develop a business plan that will: A.outline and explain how they intend to sell a good or service
B.determine the correct price for that good or service C. analyze the market for that good or service D. market and advertise that good or service to a target consumer.
2. Each team will create a power point slide show of between 11-15 slides A.introduce the team and their roles (1-2 slides)
B. explain their good or service and its utility (1-2 slides)
C. determine the Cost, Price. and Profit of each unit (1-3 slides)
D. determine business costs and arrangements (1-2 slides)
E. analyze and explain the marketplace for your competition (1-3 slides)
F. Create office documents, business cards, letterheads, invoices, estimate sheets, billing information, etc. (1-4 slides)
G. Plan an advertising and promotional strategy with necessary fliers/ ads (1-3slides)
3. Each team will perform an in class presentation that has at its center a slideshow presentation that walks the audience through their business plan to explain the 11-15 slides and also explain how their business will be successful.
4. Each team will divide into three specific roles and then work as a team to complete the necessary work as outlined by the individual roles and the overall success as a team:
A.Entrepreneur- Utility, Markets, Competition, Price/profit analysis B.Accountant- Costs, banking, business expenses, materials etc. C.Marketer- Advertising, fliers, business cards, forms etc. Today each team will need to have an initial business plan (mini) OK’ed by the teacher.In order for your business plan to be approved each team will need to follow this format:
1.Select a business / good or service that your team can actually begin producing today without any other needed training, schooling, or complicated licensing.
2.Identify which members will be performing which roles throughout the project.Be willing to exchange phone numbers, commit to completing the project as a team, and keeping all necessary documentation on their H-drives and in their portfolios at school so that each member will always have access to necessary information even if a fellow team member is not available in class.
3.Commit to working within the existing laws in your community and school to develop a legal and viable business that could actually be started following your plan’s design.Check with your town’s commerce department for needed licensing waivers and permits to allow for the start of your business.
4.Write up a formal proposal for approval on loose-leaf paper, in ink, telling the teacher the name of the business, the good or service that you will produce, the names and roles of the members involved, and that you all agree to work as a team to complete the project.
5.Plan and perform a live presentation in class that has at its core a slide show presentation that will serve as a back drop (not be the whole presentation).Each member will need to speak and explain necessary content reflecting the role that they played in the project. Roles, Responsibilities, and Limitations
What should be on your main Wikipage? Remember that this is your home page or the front door of your business.It should include the following information: ·The name of your company, how and where to contact you,and your company’s logo and slogan at some point in time. (marketer) ·The good or service that you think the people will want to buy. ·Team members and roles that they played. ·Links to your other pages. (link to entrepreneur, accountant & marketer) What should be on the Entrepreneur’s page? Aside from organizing the whole project and getting the job done, you will need to research and address the following information: ·What was your role- what were you supposed to do? ·Utility- clearly describe what you provide for the people. The more things that customers get for their dollars the better. ·Market-both geographical and numerical.From how far away can you reasonably expect to draw people into your business. (# of buyers) ·Competition- exactly who and how many other business are providing similar utility. (quantify) ·Using costs (accountant) and market data (supply & demand-market data) what price will you be able to sell your product for? What should be on the Accountant’s page? ·What were you supposed to do? ·Plan and quantify resources needed to put the utility into the market. ·Materials costs of where, how many and how much you will have to spend your capital. ·Business costs- what will it cost in office supplies and stamps etc to start your business. (again where, how many and how much money) ·Total costs (maximum out put is $1500) this is needed to establish a price for your product or service. ·Banking and record keeping- where will you bank and are there any costs or restrictions to you small business account? What should be on the Marketer’s page? ·What were you supposed to do? ·Create a company logo, slogan and letter head for your new business. ·Create an advertising plan to get the word out about your company. ·Make any necessary business forms needed to run you business. ·Create business cards and fliers to promote your business ·What kind of a promotional strategy will you use to get your business off of the ground?
The purpose of the Small Business Project is to take what you have learned in Macroeconomics and apply it to a real situation in Microeconomics. Each team of up to three people will take on the roles of Entrepreneur, Accountant and Marketer to build a real business from scratch using minimal capital resources ($1500) and your most bountiful resources, time and imagination. There will be a team component as well as individual components to complete this project.
As we work on the Small Business Project we will be meeting in the Library on some days and on other days we will be in the classroom. We will introduce you to wikispaces, which is a web based type of medium that allows students to work both from at home and at school. Your team members can work at their own pace to complete their assigned tasks. They can update information from home on both the individual parts and the team parts. No need to use your H-drives or any other type of digital media. You will all be linked together using wikispaces.
Getting Started
1. Each team of up to three students will develop a business plan that will:
A. outline and explain how they intend to sell a good or service
B. determine the correct price for that good or service
C. analyze the market for that good or service
D. market and advertise that good or service to a target consumer.
2. Each team will create a power point slide show of between 11-15 slides
A. introduce the team and their roles (1-2 slides)
B. explain their good or service and its utility (1-2 slides)
C. determine the Cost, Price. and Profit of each unit (1-3 slides)
D. determine business costs and arrangements (1-2 slides)
E. analyze and explain the marketplace for your competition (1-3 slides)
F. Create office documents, business cards, letterheads, invoices, estimate sheets, billing information, etc. (1-4 slides)
G. Plan an advertising and promotional strategy with necessary fliers/ ads (1-3slides)
3. Each team will perform an in class presentation that has at its center a slideshow presentation that walks the audience through their business plan to explain the 11-15 slides and also explain how their business will be successful.
4. Each team will divide into three specific roles and then work as a team to complete the necessary work as outlined by the individual roles and the overall success as a team:
A. Entrepreneur- Utility, Markets, Competition, Price/profit analysis
B. Accountant- Costs, banking, business expenses, materials etc.
C. Marketer- Advertising, fliers, business cards, forms etc.
Today each team will need to have an initial business plan (mini) OK’ed by the teacher. In order for your business plan to be approved each team will need to follow this format:
1. Select a business / good or service that your team can actually begin producing today without any other needed training, schooling, or complicated licensing.
2. Identify which members will be performing which roles throughout the project. Be willing to exchange phone numbers, commit to completing the project as a team, and keeping all necessary documentation on their H-drives and in their portfolios at school so that each member will always have access to necessary information even if a fellow team member is not available in class.
3. Commit to working within the existing laws in your community and school to develop a legal and viable business that could actually be started following your plan’s design. Check with your town’s commerce department for needed licensing waivers and permits to allow for the start of your business.
4. Write up a formal proposal for approval on loose-leaf paper, in ink, telling the teacher the name of the business, the good or service that you will produce, the names and roles of the members involved, and that you all agree to work as a team to complete the project.
5. Plan and perform a live presentation in class that has at its core a slide show presentation that will serve as a back drop (not be the whole presentation). Each member will need to speak and explain necessary content reflecting the role that they played in the project.
Roles, Responsibilities, and Limitations
What should be on your main Wikipage?
Remember that this is your home page or the front door of your business. It should include the following information:
· The name of your company, how and where to contact you, and your company’s logo and slogan at some point in time. (marketer)
· The good or service that you think the people will want to buy.
· Team members and roles that they played.
· Links to your other pages. (link to entrepreneur, accountant & marketer)
What should be on the Entrepreneur’s page?
Aside from organizing the whole project and getting the job done, you will need to research and address the following information:
· What was your role- what were you supposed to do?
· Utility- clearly describe what you provide for the people. The more things that customers get for their dollars the better.
· Market-both geographical and numerical. From how far away can you reasonably expect to draw people into your business. (# of buyers)
· Competition- exactly who and how many other business are providing similar utility. (quantify)
· Using costs (accountant) and market data (supply & demand-market data) what price will you be able to sell your product for?
What should be on the Accountant’s page?
· What were you supposed to do?
· Plan and quantify resources needed to put the utility into the market.
· Materials costs of where, how many and how much you will have to spend your capital.
· Business costs- what will it cost in office supplies and stamps etc to start your business. (again where, how many and how much money)
· Total costs (maximum out put is $1500) this is needed to establish a price for your product or service.
· Banking and record keeping- where will you bank and are there any costs or restrictions to you small business account?
What should be on the Marketer’s page?
· What were you supposed to do?
· Create a company logo, slogan and letter head for your new business.
· Create an advertising plan to get the word out about your company.
· Make any necessary business forms needed to run you business.
· Create business cards and fliers to promote your business
· What kind of a promotional strategy will you use to get your business off of the ground?