Name: ________________    Connection# ____       Date: _______

Build a Better Business Form

Directions: First: Great businesses combine the interests and passions of their founders with a product or service that solves a problem or does something better. So, to figure out what kind of business you might want to create, start by taking an inventory and brainstorming using the form below.   Fill in each blank and then select your new business.

Part I: What do you have a passion for? What interests you?

1) ____________________________________
2) ____________________________________
3) ____________________________________

Part II: What problems would you like to solve associated with your list above?  (Example, you love basketball, solve the problem of missing so many shots)

1) ____________________________________
2) ____________________________________
3) ____________________________________

Part III: What products and/or services would you like to improve using your list of passions in Part 1? (Example, basketball loss of air or wears out)

1) ____________________________________
2) ____________________________________
3) ____________________________________

Finally: Choose an interest or passion from Part I. Then, add it to a solution from Part II or a product/service from Part III. How do they connect to create business ideas? What would you call your new business.  Write that name in the last blank.

1)_______________ + _______________________ = ______________  [passion +  solution or improvement = a GREAT new business!]


2)_______________ + _______________________ = ______________ [passion +  solution or improvement = a GREAT new business!]


3)_______________ + _______________________ = ______________ [passion +  solution or improvement = a GREAT new business!]



 

Kids 7 to 14 are challenged to come up with new business ideas! This entry form MUST be accompanied by the Parental Permission Form in order for kids to enter the “Grow Your Own Business Challenge.” Please visit www.SMCkids.com/contest for more information on the competition.

 

Grow Your Own Business Challenge” Entry

 

You must answer all nine main questions. Three questions at the end are optional. You may respond to them or leave them blank. If you need additional room, please attach a separate sheet of paper. Please include your name, address, home phone number and email address (if you have one) on the back of any supporting materials (artwork, images, photos) that are included with your entry.

Name: ________________    Connection# ____       Date: _______

1. What is the name of your business?
(Naming your business is one of the most fun parts of being an entrepreneur! Choose a name that makes sense for your business and is also catchy and easy to remember. Put the name of your business here. This will be the title of your entry.)


2. Explain your business in detail. What is it all about? How will your business make money?
(What goals do you have for your business? How will your business work? Will your business help solve a problem or meet a need?)


3. Describe how you came up with your business idea.
(Explain who or what inspired you.)


4. Describe what your business will sell and who will buy your product or service.
(Will your business sell something people can keep? This is a product/good. Or will it do something for customers so they don’t have to do it themselves? This is a service. Maybe it’s a combination? Also, how old will your customers be? Boys, girls, men, women? Where will they live? What kinds of things will they be interested in?)


5. Explain who you will need to help you start your business.
(Will you be able to do all the work yourself, or will you need help? If you need help, will you get friends or family to assist? What will you have them do?)


 
6. How much money do you need  to set up your business? How do you plan to raise that money?
(Most businesses need money to get started. How much do you believe you will need to begin? Why? Will you borrow money, raise the money, or something else? Explain.)

 
7. Describe how you plan to market and sell your products and/or services.
(How will you spread the word about what your business has to offer? Will you sell the product or provide the service out of your home? Will you create a stand, take orders over the phone and deliver, or provide the service at someone else’s home?)


8. Explain what will make your business different from other businesses and why it is likely to succeed.
(With your parent or guardian’s permission, check the Internet for businesses like yours. If you find similar businesses, describe what will make your business different than the others. What will set your business idea apart and makes it better? Why will someone want to buy from your business? How will you encourage more and more people to buy what you sell?)


 
9. Giving back: How will your business help a community, charity, or another organization that is meaningful to you?
(How might your business have a positive effect on a community, charity, or organization? Will you create jobs, donate money, raise awareness, or something else? How?)


 
10. Optional: What is the most important lesson you’ve learned through this process of building a business?
 


11. Optional: Is there anything  else we should know that will help us understand your business? If so, explain here.
(Is there something else you want to tell us, but you’re not sure where to put it? Here’s your chance to explain!) 


12. Optional: You may attach up to 3 supporting documents. These may include a detailed business plan, research data, or images that support your business idea. (The graphic material can only be accepted in .tif, .jpg, .gif, .png,.doc, .pdf, .ppt, .txt, .rtf, .wps, .xls, or .bmp formats)





This site was created by Roderick Hames
for the primary purpose of teaching and demonstrating computer skills..
Any distribution or copying without the express or written consent of
or its creator is strictly prohibited.
Copyright© 2014.  Alton C. Crews Middle School: CS Dept

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