Creating Your Business Plan

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Introduction

The lesson sequence is designed to take a group through the creation of a business plan for use is a semester or year-long business simulation or project. It begins with a lecture and readings on the purposes and parts of a business plan, proceeds to evaluate a sample business plan as guided practice, the lets the team loose to develop their own business plan as "independent practice." This lesson provides guidance, ideas, and resources for the creation of a team-based business plan for use by high school students developing a mock single location, start-up business.

Note: the lesson assumes that the group has been given or has defined and accepted the initial business concept. The lesson " Discover your Potential" may be used to support the definition and acceptance of a business concept for this project. This plan links to other lessons in the unit, particularly Market Analysis and the creation of the plan's Financials {link to lesson}. The completion of these three plans will provide the group a complete business plan.

The scope and depth of the business plan assignment will need to be determined by the teacher in advance, depending on the number of - and abilities of - the students available to work on the plan, the length of the course (semester, year-long, etc.), and the anticipated complexity of the business to be developed. As with any planning exercise, your group will get out of it what it puts into it. Careful consideration is needed to balance the efforts expended developing the plan, with the available resources and time to execute the plan.

Prior to beginning the project, you will need to:

· Select a CEO and / or project manager for the project team; or act as the CEO yourself. It is a good idea to have one person as the plan's project manager and author, either the CEO or one person as CEO staff, if resources are available.

· Determine which sample plan you will use (a business plan for a start-up Coffee Shop / Bakery is attached). You and the CEO will need to become familiar with it, and the market for the selected business in your community, to support the guided practice section of the lesson.

· Determine which software and tools will be used for creating the plan.

· Determine the grading plan for the simulation and activities within the project.

Time:

Hook: 10 - 60 minutes, or more (depending on videos used)

Lecture: 45 minutes

Check for Understanding: 15 minutes

Demonstration / Modeling Activity: 2-3 (60) minute class periods (part 2 can be assigned as homework)

Guided Practice: 3-4 (60) minute class periods, more if extension lessons are used.

Independent Practice: 5 - 10 class periods. This will vary depending on the size of the team and the complexity of the project., Find a balance: Don't short the value of planning time, but also don't get bogged down in "analysis paralysis." Your overall class schedule will dictate the time available for the plan; but will probably be from one to two weeks. Recall also that planning is a cyclical process; you may want to build in a business plan review at the mid-point of the class.

Closure.One class period.

Objectives / Goals:

Students will work individually and in teams to review the elements of a business plan, and once prepared, proceed to create a plan for their course project. Students will gain a better understanding of the research and planning required to plan for a new venture. Individual team members will gain different skills depending on which team they participate with.

Note on Assessment: Assessments are made at a few steps in the lesson. First, of the CEOs presentation of the sample business plan, and second, and the groups develop example sections of their plan for an existing local business. The final evaluation of the success of the plan is derived from the overall success of the business simulation project which the plan creates.

Lesson Time

Hook
10 - 60 Minutes
Lecture
45 Minutes
Check for Understanding
15 Minutes
Demonstration / Modeling Activity
2 - 3 Class Periods
Guided Practice
3 - 4 Class Periods
Independent Practice
5 - 10 Class Periods
Closure
1 Class Period

Industries / Subjects / Grades

Standards and Objectives

Standards

California Academic Content Standards (3)
California's 2008 CTE Standards (5)

Related Instructional Objectives (SWBAT...)

  • Students will work individually and in teams to review the elements of a business plan, and once prepared, proceed to create a plan for their course project.
  • Students will gain a better understanding of the research and planning required to plan for a new venture.
  • Individual team members will gain different skills (Financial, Marketing, Leadership, etc.) depending on which team they participate with.

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