Part A: You, The Entrepreneur
Brainstorm ideas for a new business. Select one business idea and complete the following:
- Name your business.
- 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.
- How will you produce? List at least three factors of production for each of these categories:
- 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:
- Where and when did the entrepreneur grow up?
- What business, or businesses, do they or have they run?
- How might a person’s background (cultural, social, educational) influence their business choices?
- What did the entrepreneur do that inspires how you would run your own business?
Include the sources