Prospective Business

Activity Time:

180 Minutes
Would your students be able to use the BMC (Business Model Canvas) to make a plan for a potential business? Will they realize that the considerations also apply to their lives? This activity helps them explore how principles and markets create challenges and opportunities while understanding how relationships and connections are important.

Key Topics

  • Channels
  • Compliance
  • Customer Focus
  • Demographics
  • Franchise
  • Income Statement
  • Independent Contractor
  • Net/Gross Profit
  • Operating Costs
  • Outsource
  • Return on Investment
  • Start-Up Costs
  • Target Market
  • Value Proposition

Relevant Principles

  • Freedom
  • Integrity
  • Knowledge
  • Opportunity
  • Passion
  • Responsibility
  • Sound Judgment
  • Win-Win Focus

Real-World Concepts

  • Freedom to Enter and Compete
  • Market Signals
  • Property Rights
  • Trial and Error (Failure)

Materials Needed

  • Empowered BMC (Available in Empowered Hub)
  • BMC Cheat Sheet (Available in Empowered Hub)
  • PostIt Notes
  • Writing Utensils
  • Partner Pitch How-To Guide
  • (Empowered Currency or Bonds)
Students will be given the Business Model Canvas (BMC) and a challenge to solve with the tool. You could ask them to start a business, improve a situation, offer and receive feedback, and understand the value of partnering to overcome your weaknesses, and how to practically plan to succeed.