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August 30, 2010

Objective: Students will learn about and create a Business Concept Statement. . August 30, 2010. 3 Ring - Binders. Tomorrow you need to have your three ring binders

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August 30, 2010

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  1. Objective: Students will learn about and create a Business Concept Statement. August 30, 2010

  2. 3 Ring - Binders • Tomorrow you need to have your three ring binders • You may choose to leave them in the classroom or bring them to class, but you should bring them everyday if you choose to bring them.

  3. Worksheets • What does this business sell? • What kind of workers will they hire? • What does productivity mean?

  4. Develop a Concept Statement Writing a business concept statement is a critical task, whether starting a company or seeking to improve an existing venture. You should be able to summarize your business concept in a document of one to two pages. The business concept statement answers the following questions: • WHAT does the product or service do? • HOW is it different from other products or services? • WHO will buy it? • WHY will they buy it? • Price? • Convenience? • Provides sense of safety/security/well-being? • Better than what is currently available? • Pleasurable experience? • Uses new technology? • WHERE will it be sold? • Geographic location of business and customers • WHEN will it be ready to be sold? • Concept, start-up, initial operations phase • HOW will it be promoted and sold?

  5. HiDef Mobile Audio • What is the product or service being offered? • High end Car stereo equipment and installation • Who is the customer? • People in the Midwest interested high end car audio • Local car dealership, as a performance upgrade option for new car sales. • What is the benefit you are providing? • The convenience of equipment installation. • How will you get the product or service to the customer? • Online sales will be delivered directly to the customer from the manufacturer. • Local sales will be delivered to the local location for customer pickup or installation.

  6. Homework! • Complete the Concept Statement for your Business this will be the first document in your Entrepreneurship Portfolio. • Bring in a 3-ring binder

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