Part A: You, The Entrepreneur

Brainstorm ideas for a new business. Select one business idea and complete the following:

  1. Name your business.
  2. What will you produce? For whom? Compose a paragraph summary of the purpose of your business. Include who will benefit from your good or service.
  3. How will you produce? List at least three factors of production for each of these categories:
    • Land
    • Labor
    • Capital
    • Entrepreneurship
  4. Anticipate and overcome roadblocks: In a brief paragraph, identify at least one challenge that could prevent success in this business. Include at least one potential solution to one challenge.

Part B: Your Business Role Model

Entrepreneurs draw on the experiences of others who have been successful. Research the contributions of another American. It should be someone who has started a business like the one you proposed in Part A. If you need help identifying a good candidate for your research, reach out to your instructor or other trusted adult.

In at least one complete paragraph, respond to all of the following questions:

  1. Where and when did the entrepreneur grow up?
  2. What business, or businesses, do they or have they run?
  3. How might a person’s background (cultural, social, educational) influence their business choices?
  4. What did the entrepreneur do that inspires how you would run your own business?

Include the sources


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