Entrepreneurship SAE’s Creating A Business Plan. Who is an Entrepreneur? An Entrepreneur is a...
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Transcript of Entrepreneurship SAE’s Creating A Business Plan. Who is an Entrepreneur? An Entrepreneur is a...
Entrepreneurship SAE’s
Creating A Business Plan
Who is an Entrepreneur?An Entrepreneur is a
person who organizes and manages a business, assuming a risk for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur.
What is an Ag Entrepreneurship?
The Entrepreneur plans, implements, operates, and assumes financial risks in a farming or agricultural business. In Entrepreneurship programs, the student owns the materials and other required inputs, and keeps financial records to determine profits.
Entrepreneurship Examples
ServiceLawn mowing
Pet Sitting
Fishing Guide
Equipment Repair
ProductRaise & Sell Fish Bait
Vegetable Farm
Goat Soap
Wool Products
EntrepreneurshipAdvantages
You are your own boss
Enjoy the profits from your efforts!
Sense of pride in your business
Flexibility in your work schedule
DisadvantagesNeed to put in long
hours
Start up money is necessary
May loose money the first few years
Must be self-motivated
Why do you need a strong business plan?
1. To see if your business ideas will work.
2. To outline each area of the business.
3. To set up milestones.
4. To learn about the market.
5. To determine your financial needs.
6. To monitor your business.
7. To help attract customers.
7 Parts of a Business Plan1. Executive Summary
2. Product Description
3. Market Analysis
4. SWOT
5. Marketing & Sales
6. Goal Setting
7. Financial Plan
Part 1: Executive Summary
Your business name & location
A brief explanation of customer needs and your product or services
Your Businesses Vision or Mission
An introduction of yourself (and your team if you have one)
Part 2: Product DescriptionResearch & Development
What do you still need to learn to be able to create your product or offer your service?
Do you need to experiment with a “magic formula” to make your product perfect?
Details about your products or servicesWhat will you be selling? List all products and
services What products do you use to create your final
product?
Part 3: Market AnalysisResearch, which should
focus on: The industry- What are the
current trends? The Target Market- Who
are you trying to sell your product to?
The competition in the target market- Who else is offering your product/service? This can be done by surveying future customers, performing phone interviews, etc.
Part 4: SWOT Analysis
Part 5: Marketing & SalesAdvertising Strategy
Where are you going to advertise?
Sales StrategyHow do you plan on making
sales?
Identify & Create forms of communications: Flyers, Newspaper/Radio
Ads, Business Cards
Part 6: Goal SettingSet SMART Goals for
your businessHow many items do you
want to sell? By when? What skills do you want
to learn through your business?
When do you want to run advertisements?
Part 7: Financial PlanProjected Expenses & Incomes
What money will you need to spend to create an inventory?
What equipment do you need to purchase or lease? How much do you plan on selling each year? (You
should create at least a three year plan)Provides a budget for all marketing plans (including how
much money it will cost to print your flyers/ business cards and run any ad’s)
Will you require a loan? If yes, from whom? What is your plan for paying the loan
back?
Now What?!?!If you plan on having an Entrepreneurship SAE, it is
required to create a business plan!
Starting in January, Mrs. Knowlton will have after school hours to help students who want to have an entrepreneurship, begin writing their business plans!
Every Tuesday in January (except exam week); from 2:30-4:00pm
All hours spent writing and researching for your business plan count as SAE hours!
If you want to learn more about becoming an entrepreneur, complete the webquest for SAE Exploratory hours!