Welcome to this learning block on Entrepreneurship For Kids! Here we will guide you through all the basic steps needed to help you set up your own business. That can be starting something really simple, or whatever YOU want it to look like.
This block does not have a project for older students; instead, we suggest you work through the whole learning block in order, because by the end of it we hope you’ll be ready to start your own business! For younger children you might want to work through parts of the block with an adult or an older sibling.
Start with the videos, activities and the first project. This will give you all the information you need to start your own business in the Advanced Project.
Yep, whether you’re 4 or 14 you will be starting your own business and calling yourself an entrepreneur by the time you finish this learning block!!
So let’s get started!!
There are three videos to choose from in the first section to learn about entrepreneurship. The first one is better for younger kids, and the second two will appeal to older kids. Feel free to watch one, or all three!
There are three further videos giving you a flavour of what it’s like to be a young entrepreneur, showing you that anything is possible at any age!
Be sure to scroll to the bottom of the page to test your understanding by taking the quiz! (By then you’ll be a bona fide business owner!)
This activity is to get you to think about what kind of business YOU might want to start.
Dip into these videos showing kids like you starting all sorts of different businesses, and also some suggestions of other enterprises YOU could start.
Now that you’ve seen lots of business ideas, this activity is to get you to think about what kind of business YOU might want to start.
Write a list to help you come up with ideas and use the following as headings to help you: This can be in words or pictures or you could do it digitally and use images.
See which things on your list you are most excited by. Follow your excitement! This is a good way to help choose what business you want to start.
When you’ve finished your list, include it in your portfolio!
Now that you know what your business is going to be it’s time to think about how you’re going to set it up. You will need to think about the 4 Ps.
To do this, we suggest you create a Mind Map to capture YOUR ideas. Mind Maps are a really simple, fun way to get your ideas on a page quickly and creatively.
Start by writing the type of business in the middle of a large sheet of paper and draw a bubble around it. Then draw some branches flowing out of that central bubble to four smaller bubbles with each of the 4 Ps in them. Next draw twigs to each of these (as many as you need) with all your ideas under each heading.
Remember Mind Maps are living, breathing creative documents! The more personal you make it, the more it will help you come up with ideas for each of the 4 Ps. Get as many ideas and thoughts down as you can under each heading. Add colour, pictures, stickers; anything that brings it to life for YOU!
When you’ve finished your Mind Map, include it in your portfolio!
To really help you get creative with the last ‘P’ – ‘PROMOTION’ in your new business, we want you to create a moodboard.
Moodboards allow you to collect thoughts, ideas, colour schemes and moods all in one place. It makes it easier to see your designs and branding altogether so you don’t lose sight of the bigger picture.
You can use a large piece of cardboard, a noticeboard or an artist’s canvas. Whatever works for you. Use images that you’ve printed out/cut from magazines, photos, post-it notes, stickers, material.
Once you’ve finished your moodboard, remember to include it in your portfolio and also remember to USE IT! Your moodboard will help you stick to your colours/look/design so everything looks ‘on brand’!
If you want to get serious about running your business, no matter how old you are, a business plan is a great place to start. From helping you think through everything from who your ideal customers are, to how to market your product and what to charge, a business plan helps focus on your overall goals and put in the preparation which will save you time, effort and money. A business plan is also essential if you want to borrow money to help your business grow.
All the activities you have completed so far will help you to do this.
There are lots of grants and funding to help new businesses starting out – or start-ups as they’re called – and a business plan is ESSENTIAL if you want to access any of these.
For this project you need to write your business plan. Whether you’re running a lemonade stand on your front lawn after school, or selling hundreds of products a week, a business plan will help you get clear on your business and how to grow it even further.
Before you begin you might want to watch the video with advice for kids from famous entrepreneurs. This will give you ideas, fire you up and put you in the right ‘zone’ to begin writing a super charged, super duper, money making, planet saving, life changing business plan!
Watch the video about how to write a business plan, then use this template* to create your own.
Remember to include it in your portfolio when you’ve filled it in!
* Business Plan Guide & Template compliments of www.bizkids.com
It’s time to take the leap and choose a small business to start! If you did all the activities, you’ll have spent time thinking about your interests/passions or noticed a gap in the market (a problem that you want to solve that no one else is). You’ll have thought about the 4 Ps – your product, price, place and promotion and created a moodboard on your branding – your name, colours and images.
You’ll also have written your business plan.
You’ve done all your ESSENTIAL PREPARATION…Now it’s time to LAUNCH YOUR BUSINESS!!!
Whether you’re running a lemonade stall for a day to make money for some new trainers, making and selling candles to raise money for a cause close to your heart, baking cookies to sell at a local market, creating handmade soaps to sell online, selling slime to your friends, creating an app, setting up a blog, vlog or YouTube channel (More about this in other Learning Blocks), YOU’VE GOT THIS!
Finally, review what worked well and where you could improve next time. Every mistake is a valuable lesson so you can improve, grow and get better next time!
Most importantly, celebrate your success! Every baby step you take is important and worth praising yourself for. Overnight success stories have often been a long time in the making!!
Click on a book to buy it from Amazon. Or, you can ask for them at your local library.
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What is an entrepreneur?
What are some of the ideal qualities of an entrepreneur?
What are the 4 Ps of marketing? Tick all that apply.
Why is a business plan important/useful? Tick all that apply.
How do you work out what profit you have made? Tick all that apply.