Entrepreneurship: Building Your Own Business

• Further Education (Key Stage 5)

Entrepreneurship: Building Your Own Business

Learning Objective

At the end of the lesson, you will understand the concept of entrepreneurship and the steps involved in starting your own business.

What do you already know about entrepreneurship and starting a business?

Identifying Opportunities

Entrepreneurs identify gaps in the market or problems that need solving. They come up with innovative ideas or improvements to existing products or services.

What is Entrepreneurship?

Entrepreneurship is the process of designing, launching, and running a new business. It involves identifying opportunities, taking risks, and creating value for customers.

Market Research

Before starting a business, entrepreneurs conduct market research to understand their target customers, competition, and market trends.

Creating a Business Plan

A business plan outlines the goals, strategies, and financial forecasts for a new business. It helps entrepreneurs secure funding and stay focused.

Funding Your Business

Entrepreneurs can fund their business through personal savings, loans, investors, or crowdfunding. They must carefully consider the financial implications.

Marketing and Promotion

Successful entrepreneurs develop marketing strategies to attract customers and promote their products or services. This includes branding, advertising, and social media.

Taking Calculated Risks

Entrepreneurship involves taking calculated risks. Successful entrepreneurs understand the potential risks and rewards and make informed decisions.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.