My business rulz! Activity workbook Name: My business rulz! Activity workbook – page 2 Activity 1: Enterprising people 2. Think about enterprising people that you know in your local community and list them below: Activity People who run them Name of their business People who run their own business such as a café, a mechanical repair shop or any other sort of business. Run a ‘franchise’ such as KFC, 7-Eleven, Bob Jane T- Marts, Jim’s Mowing, Tupperware, Avon, Ray White Real Estate. Organise community events such as a rodeo, NAIDOC week. Organise community services such as Meals on Wheels or Blue Care Nursing. My business rulz! Activity workbook – page 3 Activity 2: Brainstorming Jot the ideas below for everyone to see. Even silly ideas should be included because they may turn out great when explored further. Ideas 1. List all the ideas. 2. Discuss the positives and negatives of each idea. 3. Consider workplace health and safety issues. 4. Delete the least favourite suggestions. 5. Make your final decision by working together with others to decide on a shortlist of three ideas. 6. Use the template which follows to record and evaluate these three ideas. 7. Finally, decide together by prioritising which one of the three ideas will be your enterprise project. My business rulz! Activity workbook – page 4 Template for enterprising ideas Suggested Health and Priority Positives Negatives projects safety needs listing My business rulz! Activity workbook – page 5 Activity 3: Roles and responsibilities 2. Record the decisions made about the organisation of your team. a. Decide when and where your team will meet. If your project is to be successful, you may need to agree to meet outside of lessons. b. Ask someone to be a ‘scribe’ who records your decisions at meetings. Make sure everyone can see the ideas. Copy the ideas into the box below. c. Discuss some options for a name and logo by brainstorming. Ideas d. Once you have a name you need to design a logo. This is the key visual element that promotes the product or service. Keep the logo simple and appropriate. My business rulz! Activity workbook – page 6 e. Decide who will take on the roles listed below and fill in their names. Remember, even if you have different roles you will be working as a team. Roles Responsibilities Who Chief Oversee operations, timelines and due dates executive officer (CEO) (your team leader) Marketing Research local market, advertise product with manager new name and logo. Identify who are likely to be your customers. Quality Ensure product or service is consistent and well control and done. safety Train others so everyone does the same thing manager safely. Production or Produce the product or service to your design. service Think about the process for making the products manager or service. Finance Manage production costs and price your product manager or service. Collect and save the money, spending only what you planned. Sales Promote our ideas to people in your community manager with the ideas of selling it. Research and Find out the best way to design and make your development idea work. manager Think about what you could do with some money. My business rulz! Activity workbook – page 7 Activity 4: SWOT analysis of your idea Complete the SWOT analysis diagram of your idea. Use Joe’s example to help you. …………………………………………………. (Name of business) Strengths Weaknesses Suggestions to overcome weaknesses Opportunities Threats Suggestions to overcome threats My business rulz! Activity workbook – page 8 Activity 5: Steps to develop a prototype 1. List the steps needed to develop and test your ‘prototype’. Develop and test your prototype If you have the List the tasks needed Who will do each How will you know if money, what do you for testing task? it works? need to do to make it better? My business rulz! Activity workbook – page 9 Activity 6: Project proposal preparation 1. Complete your project proposal preparation. Develop your project proposal preparation Product – Management plan Place – Operating plan Price – Financial plan Promotion – Marketing plan My business rulz! Activity workbook – page 10 Activity 7: Project proposal 1. Using the information from your project proposal preparation, complete the project proposal. Use Joe’s proposal as an example. Remember, you will need to submit this proposal to your teacher to seek permission for your project to go ahead. Project proposal Name of project: Who’s on your team? Description of product, service or activity (Describe your product or service) Steps needed to complete the project Material/equipment needed Health and safety considerations Marketing focus (Marketing and advertising your product or service) Estimated Budget (How much money do you have? What expenses will you have?) Use of project proceeds (Is your profit for helping others) Anticipated outcomes (What do you expect from this project?) How will you know you have achieved your outcomes? (How will you know if the project went well?) 2. Prepare a presentation to support your project proposal. My business rulz! Activity workbook – page 11 Activity 8: Roles and responsibilities and market research 1. Create a questionnaire, also known as a market survey to gather information about your business idea. Include questions to test whether people want this product or service, how much they would be prepared to pay and when they would take up your offer. Your questionnaire can be done by yarning with people you know. Write down a list of questions in the form of a survey for you to complete while you are together. Consider the fishing example and complete the market survey form. Market survey My business rulz! Activity workbook – page 12 2. Use the ‘Charter fishing – Our people’s way’ example to help you to complete the table. Remember to discuss and make sure that everyone has an equal amount of work and consider work conditions. Project: Project description: Tasks to do Who Notes/Responsibilities By when My business rulz! Activity workbook – page 13 Activity 9: Performance indicators 1. Design a chart to highlight one ‘quantity’ performance indicator or aim. You can draw it visually, like a rising thermometer to show ‘expected’ money against money ‘received’. Colour-in as you go or you use phrases such as those used in these sentences. By the end of the first week of sales we aim to sell (a certain number of) ………………….. and (make a certain profit)………………….. By the end of the first month we aim to………………….. By the end of the activity we aim to ……………………… Performance indicators My business rulz! Activity workbook – page 14 Activity 10: Your action plan Use the information from roles and responsibilities and performance indicators to complete your group’s action plan. Use the action plans of Joe and ‘Charter fishing – Our people’s way’ to help you. Enterprise project Team members Major tasks and roles Allocation of tasks to team members Timeline – what will be done by when Performance indicators Managing money – who, where and how My business rulz! Activity workbook – page 15 Activity 11: Budgeting Below are examples of Joe’s budget and the ‘Charter fishing – Our people’s way’ budget. Use these examples to help create your own budget. Project name: Joe Sweeney’s Skateboard modifications ESTIMATED CASH BUDGET FOR JUNE Dates June July August September Cash balance at beginning of each $00.00 $10.00 $30.00 $50.00 week ($) ESTIMATED INCOME ($): Modification of client’s skate (involves Darran’s Steve’s Jamin’s Kaleb’s all or some of new trucks, wheels and $100.00 $80.00 $90.00 $50.00 rails) Estimated total funds ($) $100.00 $90.00 $120.00 $100.00 (income + cash balance) ESTIMATED PAYMENTS ($): Purchase of parts from SonicSk8s $80.00 $50.00 $60.00 $30.00 Electricity cost $10.00 $10.00 $10.00 $10.00 Estimated total payments ($) $90.00 $60.00 $70.00 $40.00 Estimated cash at end of each month ($) i.e. Cash Balance $10.00 $30.00 $50.00 $60.00 (Total funds – Total Payments) My business rulz! Activity workbook – page 16 Project name: Charter fishing – Our people’s way ESTIMATED CASH BUDGET FOR JUNE Dates June 2 June 9 June 16 June 23 Cash balance at beginning of each week ($) $00.00 $80.00 $210.00 $340.00 ESTIMATED INCOME ($): Sale of charter fishing (4 x ½ day trips @ $60 $240.00 $240.00 $240.00 $240.00 each) Estimated total funds ($) $240.00 $320.00 $450.00 $580.00 (income + cash balance) ESTIMATED INCOME ($): Purchase of tackle supplies $30.00 $30.00 $30.00 $30.00 Hire of boats $80.00 $80.00 $80.00 $80.00 Printing of brochures to advertise business $50.00 Estimated total payments ($) $160.00 $110.00 $110.00 $110.00 Estimated cash at end of each week ($) i.e. Cash Balance $80.00 $210.00 $340.00 $470.00 (Total funds – Total Payments) My business rulz! Activity workbook – page 17 Your turn, complete the budget sheet for your project. Project name: CASH BUDGET Dates Cash balance ($) ESTIMATED INCOME ($): Estimated total funds ($) (income + cash balance) ESTIMATED PAYMENTS ($): Estimated total payments ($) Estimated cash at end of month ($) (Total funds – total payments) My business rulz! Activity workbook – page 18 Activity 12: Checking for success 1. Complete the ‘Feedback’ and ‘Work roster’ tables. Feedback People to ask Who will ask them from your team? Feedback and ideas Mentors Work roster Who Tasks Notes/Responsibilities When 2. Complete the ‘Monitoring quality, efficiency and progress’ table. Monitoring quality, efficiency and progress Names Who will ask them? Key people to ask Name the team leader (Manager) – the team member who is to make sure everyone is doing their job. Survey - Questionnaire What will we ask? Who will we ask? How many will we ask? When will we do this? My business rulz! Activity workbook – page 19 Activity 13: Evaluation 1. Using Joe’s example, list the questions your team needs to consider when evaluating your business enterprise. List difficulties you had What did you do to cope? List skills you learned How can you use these skills in future? These could be: Think about jobs that use these skills, make Learning to make something new friends etc. Dealing with customers Feeling more confident. My business rulz! Activity workbook – page 20 2. How did it feel? Paste the printout here. My business rulz! Activity workbook – page 21 Activity 14: The report Joe’s final report Final report: Joe Sweeney Project name: Joe’s skate modifications (Sweeney’s Skates) 1. Describe your Modification of skates project. 2. Team members Joe, Ayesha, Dad, Auntie Pat, Uncle Eric 3. What tasks did Team member Tasks performed each team Joe Leader: Receives orders, plans skate member perform? modifications, orders parts, does the work Ayesha Designs and paints logos on skates Dad Help with workshop, tools, safety and encouragement Auntie Pat Help with money Uncle Eric Help with workshop, tools, safety and encouragement 4. Describe the So far I’ve modified skates for myself and four friends, Darran, Steve, achievements of Jamin and Kaleb. They all seem pretty happy with the changes, and your project. they are able to do wicked tricks with them. Johnno has asked for his to be done next month. 5. Describe how you By what others have said after skating with them. have you measured your achievement. 6. Describe Having the money to buy parts. difficulties that you faced. 7. Describe the Sometimes I get the skaters to buy their own parts first, or I ask them solutions you for the money to start. For my first order I used money I’d saved from found to address mowing lawns. the difficulties you described in 6. 8. List the skills that I’ve learned so much about making sure I understand what my team members customers want, about doing the work (I’m getting faster) and about have gained as a running a business enterprise. result of this Ayesha has gained ideas about designs and possible ways to use her project. skills on new products – she’s thinking of designing some shirts and caps! 9. What advice would Make sure you know about what you are doing, and be prepared to ask you give to other for help. Having a mentor really helps. students trying this project? 10. Did you enjoy It rocks! Now I’d like to learn how to build skateboards from scratch, and working on this I’d like to play around with using different materials. project? What would you do next time? My business rulz! Activity workbook – page 22 Reporting on your project 1. Use the notes and survey analysis you did earlier to write a formal report. This is to be presented to your teacher, other class members and the people who approved your project in the beginning. Work in small groups, each group taking responsibility for parts of the report. You may like to use the provided template. Write at least two sentences in sections 4. – 10. 2. Provide a copy of the report to key people, and prepare materials to do a presentation about your project. This can include photos, a small video or a PowerPoint presentation. Encourage your audience to ask questions and give feedback. Final report: Our project’s name: 1. Describe your project. 2. Team members 3. What tasks did Team member Tasks each team member do? 4. Describe the achievements of your project. 5. Describe how you measured your achievement. 6. Describe difficulties you had. My business rulz! Activity workbook – page 23 7. Describe the solutions to the difficulties you described in 6. 8. List the skills that team members now have from working on this project. 9. What advice would you give to other students trying this project? 10. Did you enjoy working on this project? What would you do differently next time?