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.