This unit introduces students to what a start-up is and how to develop a sound business plan using the Business Model Canvas. Students start by identifying problems to be solved. Entrepreneurs look to solve problems they identify with and have a passion for. Students begin to identify these problems, needs or wants individually, then are grouped in teams based on common interests. Only after outlining these problems do students start brainstorming creative solutions that can be turned into business ideas. Students will begin to refine and develop their ideas by going through the process of competitive analysis and identifying their unique value proposition.
- Entrepreneurs must identify customer wants and/or needs to justify their product or service.
- Business opportunities must respond to change and must be developed using customer insights throughout development.
- A business model canvas helps communicate your ideas to others, identify necessary resources, and acts a roadmap for the future of the business.
- How do creative ideas become business opportunities?
- How do my interests, skills, and abilities affect the type of business I start?
- What kinds of risks arise with business opportunities?
- What does it mean to get customer feedback and why is it critical in developing a successful business idea?
Expected Outcomes by end of Unit
- Students will be formed in teams and begin working as a cohesive group.
- Student teams will learn class expectations, assessment components and how to use technology to successfully manage their classroom exercises and work.
- Student teams will learn and understand the 9 components that form a Business Model Canvas.
- Student teams will generate problems worth solving and create a Business Model Canvas that outlines their team’s business idea.