Attachment - PDF - Kami Export - Yamou Sanneh - Entrepreneurship - and - Small - Business - V.2 - Student - Workbook

Entrepreneurship and Small
Business V.2
Project Workbook
First Edition
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Table of Contents
Introduction 1
Best Practices Using LearnKey’s Online Training 2
Using This Workbook 3
Skills Assessment 4
Entrepreneurship and Small Business V.2 Video Times 5
Domain 1 Lesson 1 6
Fill-in-the-Blanks 7
Small Business Types 8
Legal Structures 9
Roles and Compensation 10
Business Life Cycle Stages 11
The Design Thinking Process 12
Domain 1 Lesson 2 13
Mindset, Risks, and Benefits 15
Business Opportunities 16
Business Plan, Pitch Deck, and Lean Canvas 17
Intellectual Property Laws 18
Market Research 21
Evaluating Competition 22
Marketing Platforms 25
Market Segments 26
Customer Acquisition Costs 27
Customer Retention Costs 28
Elements of a Marketing Plan 29
Sales Process 32
Sales Channels 33
Product/Market Fit 36
Quality 37
Researching Products and Services 40
Digital and Physical Products and Services 41
Quality Control 42
Distribution Channels 45
Distribution and Fulfillment Centers 46
Selling Price 49
Calculating Equity 50
Calculating Information on an Income Statement 51
Fixed and Variable Costs 54
Calculating Cash Flow 55
Calculating ROI 56
Startup Costs and Operating Budgets 59
Funding Options 60
Appendix 61
Glossary 62
Objectives 65
Entrepreneurship and Small Business V.2 Lesson Plan 67
Domain 1 Lesson Plan 67
Introduction
1 | Introduction Entrepreneurship and Small Business V.2 Project Workbook, First Edition
Best Practices Using LearnKey’s Online Training
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identify a student’s strengths and weaknesses, allowing them to focus on the specific subject matter they need to improve
the most. Students should not necessarily expect a passing score on the pre-assessment as it is a test of prior knowledge.
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glossaries, course support files, and additional customized instructional material. These resources are located in the folder
icon at the top of the page.
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Workbook: The workbook has various activities, such as fill-in-the-blank worksheets, short answer questions, practice
exam questions, and group and individual projects that allow the student to study and apply concepts presented in the
training videos.
Using This Workbook
This project workbook contains practice projects and exercises to reinforce the knowledge you have gained through the
video portion of the Entrepreneurship and Small Business V.2 course. The purpose of this workbook is twofold. First, get
you further prepared to pass the Entrepreneurial and Small Business 2 exam, and second, to better prepare you to start
your own business one day.
The projects within this workbook follow the order of the video portion of this course. To save your answers in this
workbook, you must first download a copy to your computer. You will not be able to save your answers in the web version.
You can complete the workbook exercises as you go through each section of the course, complete several of these at the
end of each domain, or complete them after viewing the entire course. The key is to go through these projects to
strengthen your knowledge of this course.
Each project is based upon a specific video (or videos) in the course and specific test objectives. The materials you will
need for this course include:
• LearnKey’s Entrepreneurship and Small Business V.2 courseware.
• The course project files. All applicable project files are in the support area where you downloaded this workbook.
We value your feedback about our courses. If you have any questions, comments, or concerns, please let us know by
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Skills Assessment
Instructions: Rate your skills on the following tasks from 1-5 (1 being needs improvement, 5 being excellent).
Skills 1 2 3 4 5
Identify the foundational concepts of entrepreneurship and
small business ownership.
Identify the knowledge and skills of a successful entrepreneur.
Recognize potential business opportunities.
Identify the elements of a business plan.
Identify intellectual property concepts.
Interpret market research.
Analyze aspects of marketing processes.
Identify sales channel strategies.
Identify the value of a Minimum Viable Product.
Identify supply chain and production processes.
Identify distribution channels.
Analyze business financials.
Analyze funding options.
Entrepreneurship and Small Business V.2 Video
Times
Domain 1 Video Time
Entrepreneurship and Small Business Ownership 00:25:22
Entrepreneurship Skills, Potential Business
Opportunities and Plan Elements, and Intellectual 00:20:38
Property Concepts
Total Time 00:46:00
Domain 2 Video Time

Market Research 00:07:51
Aspects of Marketing Processes 00:14:46
Sales Channel Strategies 00:05:24
Total Time 00:28:01
Domain 3 Video Time

Value of a Minimum Viable Product 00:03:56
Supply Chain and Production Processes 00:07:58
Identify Distribution Channels 00:04;15
Total Time 00:16:09
Domain 4 Video Time

Business Financials Part 1 00:10:27
Business Financials Part 2 00:08:44
Funding Options 00:05:07
Total Time 00:24:18
Domain 1 Lesson 1
6 | Domain 1 Lesson 1 Entrepreneurship and Small Business V.2 Project Workbook, First Edition
Fill-in-the-Blanks
Instructions: While watching Domain 1 Lesson 1, fill in the missing words according to the information presented by the
instructor. [References are found in the brackets.]
1. The key objective of a small business owner is to generate . [Entrepreneurship and Small Business]
2. Entrepreneurs are willing to take on new opportunities and unknown to grow their businesses
rapidly. [Entrepreneurship and Small Business]
3. Tangible items that require pick-up or delivery are products. [Classify Types of Businesses]
4. When a purchases an item from a business, it is a business-to-consumer transaction. [Classify

Types of Businesses]
5. are for-profit corporations with limited liability. [Business Legal Structures]
6. are ideal for international businesses. [Business Legal Structures]
7. The oversees daily operational and administrative functions. [Business Roles

and Responsibilities]
8. A votes on the management of a company. [Business Roles and Responsibilities]
9. employees are paid a fixed amount each pay period. [Business Compensation Structures]
10. Businesses can compensate employees for work they produce when being paid by . [Business
Compensation Structures]
11. in addition to a lower salary. [Business Compensation Structures]
12. During the stage of the business life cycle, a company is regularly taking on new customers and
starting to generate a consistent income. [Business Life Cycle Stages]
13. The owner may decide to sell their ownership in the company during the stage. [Business Life
Cycle Stages]
14. The five elements of the design thinking process are: empathize, define, ideate, , and test.
[The Design Thinking Process]
15. allows one to see and experience a customer's perspective. [The Design Thinking Process]
16. The design team creates multiple inexpensive versions of a product, known as .
[The Design Thinking Process]
Small Business Types Project Details
Project file
Small business owners and entrepreneurs are similar but have some key N/A
differences. Both invest time and money into a small business. A small business
Estimated completion time
owner focuses on generating profits and deals with known risks. Entrepreneurs
5 minutes
tend to grow fast and take on new opportunities and unknown risks. A franchise
is a licensed business that has established operations, products or services, and Video reference
branding. This business requires more money upfront but has less risk involved. Domain 1
Topic: Entrepreneurship and Small
Businesses sell products and services. A product is a physical item that one Business Ownership
holds, such as clothing, toys, and food. A service is intangible. Car detailing, Subtopic: Entrepreneurship and
Small Business; Classify Types of
computer repairs, and lawn maintenance are all services. Services need some
Businesses
type of training to perform. Products and services are sold in physical stores or
using e-commerce. There are shipping costs associated with physical products. Objectives covered
Digital products are instantly available, though it can be challenging to show 1 Entrepreneurial and Small Business
Concepts
value. When a customer makes a purchase from a business, it is a business-to-
1.1 Identify the foundational
consumer (B2C) transaction. When a business makes a purchase from another concepts of entrepreneurship and
business, it is a business-to-business (B2B) transaction. small business ownership
1.1.1 Define entrepreneurship and
Purpose small business
1.1.2 Classify types of businesses
Upon completing this project, you will better understand small businesses and
their products and services. Notes for the teacher
Review the differences between a small
Steps for Completion business owner, an entrepreneur, and a
franchise.
1. Name one benefit of a franchise.
a. It helps spread a business to other locations and can make certain products available in other plaves
2. Label the items as either a product or a service. Use P for product and S for service.
a. product Muffins
b. service AC repairs
c. product Toilet paper
d. product Jewelry
e. service Web designs
f. product Couch
g. service Guitar lessons
Legal Structures Project Details
Project file
There are various legal structures to choose from when creating a business. An S N/A
corporation and C corporation have specific tax advantages and limited liability.
They have shareholders, a lower tax rate, and follow strict qualifications to
5 minutes
create. A limited liability company (LLC) has a personal tax rate. They are not
personally liable for the company’s debt. A sole proprietorship or partnership is Video reference
responsible for all debt and they are easy to create. The last legal structure, non- Domain 1
profit organizations, have specific tax exemptions.
Business Ownership
Subtopic: Business Legal
Purpose Structures
Upon completing this project, you will better understand the legal structures Objectives covered
available to businesses. 1 Entrepreneurial and Small Business
Concepts
Steps for Completion 1.1 Identify the foundational
concepts of entrepreneurship and
1. Match the following characteristics to the appropriate legal structure. small business ownership
1.1.3 Identify various legal
S corporation Sole proprietorship structures of a business
Partnership LLC
Non-profit C corporation Notes for the teacher
Review the various legal structures with
students.
a. Non-profit No ownership, no US federal
taxes
b. C corporation Best for international business even with being double-taxed
c. S corporation Easy to create but comes with unlimited liability
d. LLC Lower tax rate that prevents the company from being double-taxed
e. Sole porprietorship Ideal for a single owner seeking low risk
f. Partnership Shared financial backing
Roles and Compensation Project Details
Project file
There are many roles and responsibilities within a business. In a larger company, N/A
the roles are spread among multiple people. In a small business, the roles may
be filled by a few people. Some common roles are the Chief Executive Officer
5 minutes
(CEO), Chief Financial Officer (CFO), and Chief Operations Officer (COO). These
are the highest-ranking employees and make the major decisions for a Video reference
company. The owner or founder is the only role that is not interchangeable. Domain 1
Stakeholders are individuals or groups that have an interest in the success of a
Business Ownership
company. They might serve on the board of directors. Stockholders have a Subtopic: Business Roles and
vested interest in a company, meaning they pay for part of the ownership. Responsibilities; Business
Employees are given specific roles or tasks to complete. Each role is important Compensation Structures
to the success of a company.
Objectives covered
No matter the role, all employees receive compensation. There are many forms 1 Entrepreneurial and Small Business
Concepts
of compensation, but the most common are hourly and salary. A few others of
1.1 Identify the foundational
note are commission, piece work, and equity. concepts of entrepreneurship and
small business ownership
Purpose 1.1.4 Identify roles and
responsibilities within a business
Upon completing this project, you will better understand the roles in a business. 1.1.5 Define business
compensation structures
Steps for Completion
Notes for the teacher
1. Match the responsibility with the corresponding role in a business. Review roles, responsibilities, and
compensation in greater detail if time
CEO Founder permits.
Stakeholder COO
CFO Stockholder
a. Creates the company
b. Oversees company finances
c. Owns stock in the company
d. Reports to the board of directors
e. Oversees daily operational and administrative functions
f. Has a vested interest in the success of the company
2. Match the business compensation type with the corresponding definition
Hourly Commission
Salary Equity
a. Non-cash compensation
b. Set rate of pay for hours worked
c. Usually found in sales roles
d. Set amount of pay in a given period
Business Life Cycle Stages Project Details
Project file
There are seven stages in a business life cycle. Each stage represents a different N/A
phase of growth and expansion for a business. The first stage is existence, when
a business begins. After this initial period is the survival stage. In this stage,
5 minutes
income and customers begin to grow. Once a business is economically healthy,
it moves to the success stage. In the take-off stage, an owner decides whether Video reference
to continue growing the business or to sell the business. During the resource Domain 1
maturity stage, the owner can separate financially and operationally from a
Business Ownership
business. Pivot or persist is next as an owner decides if they will continue to Subtopic: Business Life Cycle
grow the business into a large company or pivot to a new project. Finally, an Stages
owner may choose to sell their company in the exit plan stage.
Objectives covered
Purpose 1 Entrepreneurial and Small Business
Concepts
Upon completing this project, you will better understand the stages of a 1.1 Identify the foundational
business life cycle. concepts of entrepreneurship and
small business ownership
1.1.6 Define business life cycle
stages
1. List the correct order of the business life cycle stages: Notes for the teacher
Review the business life cycles stages
a.
with students.
b.
c.
d.
e.
f.
g.
2. Michael owns a small but profitable tech company. He has been approached by a larger company that wants to
purchase his business. In which business life cycle stage is Michael?
a.
3. Bill just started a new graphic design business. He is advertising online and trying to gain customers. He just
finished working with his first client. In which business life cycle stage is Bill?
a.
4. Stephanie started a new flower shop last year. She has a good customer base and money coming in. In which
business life cycle stage is Stephanie?
a.
The Design Thinking Process Project Details
Project file
As a business owner, it is important to keep the needs of customers in mind. N/A
The design thinking process has five elements for a design team to develop
products that meet customers’ need. These elements are: empathize, define,
5 minutes
ideate, prototype, and test. The stages typically flow in this order, but the team
can return to previous stages as needed. Identifying the needs of customers is Video reference
the first stage. Next, the team identifies and defines any problems customers are Domain 1
facing. The team creates solutions to the problems in the ideation stage. The
Business Ownership
design team will create prototypes to test the product. In the final stage, the Subtopic: The Design Thinking
design team refines the final product. Process
Purpose Objectives covered

1 Entrepreneurial and Small Business
Upon completing this project, you will better understand the design thinking Concepts
process. 1.1 Identify the foundational
concepts of entrepreneurship and
Steps for Completion small business ownership
1.1.7 Identify elements of the
1. List the correct order of the design thinking process. design thinking process
a. Notes for the teacher

Review the design thinking process with
b. students.
c.
d.
e.
2. During which stage of the design thinking process will the design team create multiple inexpensive product
versions?
a.
3. During which stage of the design thinking process is a problem statement formed?
a.
4. Which stage of the design thinking process involves learning about customers' challenges?
a.
Domain 1 Lesson 2
Fill-in-the-Blanks
1. is the amount of loss one is willing to take when making an investment decision.
[Characteristics of an Entrepreneurial Mindset]
2. Having a mindset means believing that one can accomplish anything through hard work.
[Characteristics of an Entrepreneurial Mindset]
3. An example of an risk is a natural disaster. [Entrepreneurship Risks and Benefits]
4. A business opportunity is an that lets a buyer start a business. [Characteristics of a

Business Opportunity]
5. A needs to be obtained to use a brand name on products. [Characteristics of a Business

Opportunity]
6. The five factors that determine the viability of a business opportunity are ,
relationships, cash flow management, management skillsets, and passion. [Viability of a Business Opportunity]
7. A business plan helps a business achieve short-term and long-term . [Business Plan, Pitch Deck,
and Lean Canvas]
8. A lean canvas should only be long. [Business Plan, Pitch Deck, and Lean Canvas]
9. The summary creates the first impression of a business plan. [Key Components of a
Business Plan]
10. The plan should specifically be directed to investors and lenders. [Key Components of a
Business Plan]
11. A pitch deck is most commonly presented in the form of a presentation. [Key Components of a
Pitch Deck]
12. A and value proposition provides a brief overview of a business where one talks about the
company's mission and the value provided to customers. [Key Components of a Pitch Deck]
13. A patent protects an from being copied. [Trademarks, Trade Secrets, Copyrights, and Patents]
14. Trade secrets protect a company's formulas from being shared with . [Trademarks,
Trade Secrets, Copyrights, and Patents]
15. To license a product, one must obtain from the author or creator. [Using Licensed
Materials]
16. Confidentiality or agreements are signed by employees, agreeing not to share

trade secrets. [Using Licensed Materials]
Mindset, Risks, and Benefits Project Details
Project file
Entrepreneurs have a wide range of characteristics. Each person is unique. The N/A
strengths of one entrepreneur differ from another entrepreneur. Some common
characteristics found among entrepreneurs are self-reliance, forward-thinking,
5 minutes
and resiliency. Entrepreneurs recognize opportunities and tolerate risks. They
have growth mindsets and use critical thinking to overcome obstacles. Many Video reference
entrepreneurs are creative and innovative, and they also collaborate with others Domain 1
Topic: Skills of a Successful
to solve problems. These characteristics help entrepreneurs be successful.
Entrepreneur
When becoming an entrepreneur, there are risks and benefits that one should Subtopic: Characteristics of an
Entrepreneurial Mindset;
consider. There are financial risks that come when starting a business. Not all
Entrepreneurship Risks and
businesses are financially successful. Common risks for businesses include Benefits
environmental risks, political risks, and competition from similar businesses.
Entrepreneurs should work proactively to overcome these risks. Some benefits Objectives covered
of becoming an entrepreneur are choosing business hours, who to work with,
Concepts
and even where to work. 1.2 Identify knowledge and skills of a
successful entrepreneur
Purpose 1.2.1 Identify characteristics of an
entrepreneurial mindset
Upon completing this project, you will better understand the risks associated 1.2.2 Identify the risks, benefits,
with entrepreneurship. opportunities, and drawbacks of
being an entrepreneur
1. Name three characteristics of a successful entrepreneur and explain why Review the characteristics of an
that skill would be helpful when starting a business. entrepreneur with students in greater
detail if time permits.
a.
b.
c.
2. Name one example of a political risk that an entrepreneur might face.
a.
3. Name one example of an environmental risk that an entrepreneur might face.
a.
4. Name one example of a financial risk that an entrepreneur might face.
a.
Business Opportunities Project Details
Project file
Entrepreneurs can find business opportunities to start a business if they do not N/A
have an idea of their own. Business opportunities are investments such as
franchises, licensing, and network marketing. By investing in a solid business
5 minutes
plan and product, success can come quicker than starting from scratch.
Video reference
To determine the viability of a business opportunity, an entrepreneur should Domain 1
consider five factors. These factors are market size, relationships, managing cash Topic: Potential Business
flow, management skillset, and passion. By analyzing these factors, an Opportunities
entrepreneur can determine if a business opportunity will be successful. Subtopic: Characteristics of a
Business Opportunity; Viability of a
Business Opportunity
Purpose
Objectives covered
Upon completing this project, you will better understand how to test the
viability of a business opportunity. Concepts
1.3 Recognize potential business
Steps for Completion opportunities
1.3.1 Identify characteristics of a
1. Which business opportunity involves recruiting marketers to join a business opportunity
team? 1.3.2 Determine the viability of a
business opportunity
a.
2. Which business opportunity involves higher start-up costs? Review business opportunities with
students and how to test their viability.
a.
3. Which business opportunity obtains licenses to use a brand name?
a.
4. Which viability factor involves the potential funding of a business opportunity?
a.
5. Which viability factor involves building relationships with experienced professionals?
a.
6. Which viability factor can help an entrepreneur make up for a lack of skills?
a.
7. Which viability factor analyzes the skills of employees?
a.
8. Which viability factor researches the demand for products or services?
a.
Business Plan, Pitch Deck, and Project Details
Project file
Lean Canvas N/A

There are three key elements that every business should have: a business plan, a 5 minutes
pitch deck, and a lean canvas. A business plan includes an executive summary, a Video reference
marketing plan, an organizational structure, and a financial plan. It outlines Domain 1
goals and shows investors how their investments will help achieve them. A pitch Topic: Business Plan Elements
deck is a brief overview of the business plan, and it outlines the business, what Subtopic: Business Plan, Pitch
funding is needed, and financial projections. A pitch deck is typically presented Deck, and Lean Canvas; Key
Components of a Business Plan;
to investors as a slideshow. A lean canvas is a one-page document covering
Key Components of a Pitch Deck
problems, solutions, and key details of a business plan. It is helpful to gather
feedback from other people and to brainstorm ideas. As a business owner, it is Objectives covered
important to understand the key components of a business plan, pitch deck, 1 Entrepreneurial and Small Business
and lean canvas to secure investors. Concepts
1.4 Identify the elements of a
business plan
Purpose
1.4.1 Identify the purposes and
Upon completing this project, you will better understand business plans, lean value of a business plan, pitch
deck, and lean canvas
canvases, and pitch decks.
1.4.2 Define the key components
of a business plan and pitch deck
1. What is the purpose of a pitch deck? Review when to use a business plan,
pitch deck, or lean canvas with students.
a.
2. What is the purpose of a lean canvas?

a.
3. Which section of a business plan determines if there is a large enough customer pool?
a.
4. Which section of a business plan briefly explains everything in the business plan?
a.
5. Which section of a business plan includes roles that have not yet been filled?
a.
6. Which section of a business plan includes things like a budget and profit and loss projection?
a.
Intellectual Property Laws Project Details
Project file
It is important to protect intellectual property, trade secrets, logos, and N/A
company names by using intellectual property laws. A copyright protects
creative works such as art, literature, and music and a patent protects an
5 minutes
invention from being copied. A trademark protects brand names, logos, and
business names. A trade secret protects a company’s practice, process, or Video reference
formula from being shared with competitors. Domain 1
Topic: Intellectual Property Concepts
Entrepreneurs need to know how to use the intellectual property of others. Subtopic: Trademarks, Trade
Trademarked material is usually well recognized and may boost sales but Secrets, Copyrights, and Patents;
Using Licensed Materials
requires permission to be used. An entrepreneur can sign a licensing agreement
and pay a licensing fee to use trademarked material. To use a patent, the owner Objectives covered
assigns ownership of the patent to another, allowing them to use and sell the 1 Entrepreneurial and Small Business
invention. Royalty fees are then paid to the original patent owner. To protect Concepts
1.5 Identify intellectual property
trade secrets, an employee will sign confidentiality or non-disclosure
concepts
agreements. Employees that break the agreement could face large fines. 1.5.1 Differentiate between
trademarks, trade secrets,
Purpose copyrights, and patents
1.5.2 Identify the value, risks, and
Upon completing this project, you will better understand intellectual property guidelines associated with using
laws. licensed materials
Steps for Completion Notes for the teacher

Review intellectual property laws with
1. Jessica is composing a song and wants to protect it from being copied. students.
Which intellectual property law would best protect Jessica’s song?
a.
2. George came up with a secret banana bread recipe that he sells in his bakery. Which intellectual property law
would best protect his recipe?
a.
3. Mary works for a tech company and is designing a new style of headphones. Which intellectual property law
would best protect Mary’s design?
a.
4. Will designed a company logo for his new gym. Which intellectual property law would best protect his logo?
a.
Domain 2 Lesson 1
Fill-in-the-Blanks
1. A target market identifies the to which a company markets its products and services.
[Target Market, Value Proposition, and Pricing]
2. A value proposition is a statement that explains a customer should do business with a company.
[Target Market, Value Proposition, and Pricing]
3. Primary data is more and reliable compared to secondary data. [Primary and Secondary Data]
4. Secondary data often contains . [Primary and Secondary Data]
5. A(n) competitor is a business that sells similar products or services as another business. [Evaluate
Competition]
6. A(n) competitor is a business that sells different products or services but is similar enough to be
competitive with another business. [Evaluate Competition]
7. A SWOT analysis documents a company’s strengths, weaknesses, , and threats. [SWOT

Analysis]
8. Financial limitations would be an example of a in a SWOT analysis. [SWOT Analysis]
Market Research Project Details
Project file
When creating a product or service, it is important to keep in mind the target N/A
market. A target market is a group of customers that will buy a product or
service. A target market helps a business focus on the area they will see most of
5 minutes
their sales. A target market also helps a business determine the price of
products and services. When determining the price, keep in mind the target Video reference
market and how much they are willing to pay. A value proposition states why a Domain 2
Topic: Market Research
customer should do business with a company. It conveys the value of products
Subtopic: Target Market, Value
and services to customers. When determining target markets, it is important to Proposition, and Pricing; Primary
use trusted data sources to get accurate information. Primary data comes from and Secondary Data
first-hand accounts, such as interviews and surveys, and is more accurate and
reliable. Secondary data, such as articles or academic journals, interprets primary Objectives covered
2 Marketing and Sales
data and often includes personal bias.
2.1 Interpret market research
2.1.1 Define target market, value
Purpose proposition, and pricing
2.1.2 Distinguish between primary
Upon completing this project, you will better understand target markets, pricing,
and secondary data
and selecting data sources.
Steps for Completion Have students create a value
proposition if time permits.
1. Mark designs logos for businesses in his city. He mostly works with local
bakeries. What is Mark’s target market? D
A. Females, ages 13-19
B. Males, ages 20-40
C. Kids, ages 2-12
D. Adults, ages 25-60
2. Josie is a teenage girl who wants to start a jewelry-making business. Her target market is females, ages 10-14.
What price should she charge per necklace that she sells? A
A. Between one and ten dollars
B. Between ten and twenty dollars
C. Between twenty and thirty dollars
D. Between thirty and forty dollars
3. A focus group was formed to provide opinions for a target market. What type of data is being collected from the
focus group?
A. Primary data
4. An internet article about fashion trends seen in Europe was used to select inventory for a small boutique. What
type of data was used in this scenario?
A. secondary data
Evaluating Competition Project Details
Project file
There are two types of competition when evaluating a business. Direct N/A
competition is a business that sells the same or similar products or services. For
example, a sandwich shop’s direct competition would be other nearby
5 minutes
businesses that sell sandwiches. Indirect competition is a business that sells
similar products that could meet the same need. For an ice cream parlor, a Video reference
nearby bakery would be an indirect competitor. Knowing the competition that is Domain 2
Topic: Market Research
out there can help a business to stand out. A SWOT analysis is helpful to
Subtopic: Evaluate Competition;
determine areas for improvement. This documents a company's strengths, SWOT Analysis
weaknesses, opportunities, and threats.
Objectives covered
Purpose 2 Marketing and Sales
2.1 Interpret market research
Upon completing this project, you will better understand direct and indirect 2.1.3 Evaluate competition
competitors and the elements of a SWOT analysis. 2.1.4 Complete a SWOT analysis

Steps for Completion If time permits, review areas of
improvement found in a SWOT analysis.
1. Ellie owns a tumbling gym. She compiled a list of nearby competitors.
Classify each of the following businesses as either direct or indirect
competition.
a. direct Cheerleading gym
b. indirect Martial arts center
c. indirect Trampoline park
d. direct Gymnast training center
2. Tom runs a car repair shop with dependable employees. Recently he has seen an increase in customers needing
work done. He knows that he needs to replace one of the lift machines but is struggling to finance it. There are
other repair shops in the neighborhood. Identify the SWOT analysis elements.
a. SW Dependable employees
b. SW Increased customers
c. OT Repair shop competitors
d. OT Small budget
Domain 2 Lesson 2
Fill-in-the-Blanks
1. A marketing method that uses customized newsletters to engage with customers is . [Marketing
Platforms and Marketing Methods]
2. A marketing method that uses ads on a website within a search engine is advertising.
[Marketing Platforms and Marketing Methods]
3. The four segments of sales data are , geographical, demographic, and psychographic. [Market
Reactions and Sales Data]
4. data provides information about a customer’s age, gender, or ethnicity. [Market Reactions
and Sales Data]
5. Investors use to determine the cost of acquiring new customers.

[Customer Acquisition and Retention Costs]
6. The formula used to determine customer acquisition costs is expenses plus sales expenses
divided by the number of new customers for the period. [Customer Acquisition and Retention Costs]
7. It is more to keep current customers than to acquire new customers. [Customer

Acquisition and Retention Costs]
8. Customer retention rates are found by the number of new customers acquired during a
period from the number of customers at the end of a period, then dividing by the number of customers from the
start of the period and multiplying by 100. [Customer Acquisition and Retention Costs]
9. An provides an overview of the marketing plan. [Elements of a Marketing Plan]
10. The four P’s of the marketing mix are product, price, place, and . [Elements of a Marketing Plan]
Marketing Platforms Project Details
Project file
Marketing builds the brand of a company, attracts leads, and increases the sales N/A
of a company. The most dominant medium for marketing is television
advertising. Digital marketing is growing on social media platforms like
5 minutes
Facebook and Instagram which market to their users through sponsored
content, paid ads, and influencers. Mail, newspapers, and billboards are physical Video reference
marketing tools that can be effective. Domain 2
Topic: Aspects of Marketing
Purpose Processes
Subtopic: Marketing Platforms and
Upon completing this project, you will better understand marketing platforms. Marketing Methods
Objectives covered
Steps for Completion 2 Marketing and Sales
2.2 Analyze aspects of marketing
1. Which marketing method has the higher success rate of bringing in new
processes
customers: mail or email? 2.2.1 Identify marketing platforms
2.2.2 Apply marketing methods
a. email
2. Which marketing method is commonly seen on the side of a freeway? Review marketing platforms and their
specific benefits and drawbacks.
a. billboards
3. Which marketing method uses specific technical elements to be among

the top search results?
a. paid ads
4. Identify three digital marketing methods:
a. ads
b. social media platforms
c. sponsored content
5. Identify three traditional marketing methods:
a. newspapers
b. mail
c. posters
Market Segments Project Details
Project file
Collecting and analyzing sales data is important to the success of a company. N/A
Analyzing the data will show areas of improvement and areas of strength. Most
data can be split into four segments: behavioral, geographical, demographic,
5 minutes
and psychographic. Behavioral data is used to understand the buying habits of
customers. Geographical data shows the location of a sale to show areas of high Video reference
and low sales volumes. Demographic data reveals statistical information about Domain 2
customers, such as age and ethnicity. Psychographic data reveals customer
Processes
values and motivations. These four areas provide necessary insight into what Subtopic: Market Reactions and
action to take. Sales Data

2 Marketing and Sales
Upon completing this project, you will better understand market segments. 2.2 Analyze aspects of marketing
processes
Steps for Completion 2.2.3 Analyze market reactions and
sales data
1. Which market segment shares a customer’s age, gender, and ethnicity?
a. demographic Review market reactions with the
students.
2. Which market segment shares a customer’s location?
a. geographical
3. Which market segment anticipates a customer’s needs?
a. behavioral
4. Which market segment shows how a customer views the world?
a. psychographic
Customer Acquisition Costs Project Details
Project file
Acquiring new customers is important for any business. Tracking the costs to N/A
obtain new customers is also important. The formula used to determine a
company’s customer acquisition cost (CAC) is marketing expenses plus sales
5 minutes
expenses, divided by the number of new customers for the period. If acquisition
costs are high, the marketing might not be effective. Video reference
Domain 2
Purpose Topic: Aspects of Marketing
Processes
Upon completing this project, you will better understand how to calculate Subtopic: Customer Acquisition
customer acquisition costs. and Retention Costs
Objectives covered
Steps for Completion 2 Marketing and Sales
1. Jon’s company acquired 2,000 new customers last year. He spent
processes
$10,000 in marketing costs and $6,000 in sales costs. What was Jon’s 2.2.4 Analyze customer acquisition
CAC? costs and retention costs
a. $16,000 Notes for the teacher

Practice the CAC formula with students
2. Erin owns an ice cream shop. She spent $5,000 in marketing expenses creating new examples if time permits.
and $2,000 in sales costs last year. She obtained 700 new customers.
What was Erin’s CAC?
a. $7,000
3. Sarah runs a large toy store. Last year they acquired 5,000 new customers. Her company spent $30,000 in
marketing costs and $15,000 in sales costs. What was Sarah’s CAC?
a. $45,000
Customer Retention Costs Project Details
Project file
Generally, it is more cost-effective to keep current customers than to acquire N/A
new customers. Keeping customers coming back and purchasing more products
or services is key to customer retention. To find the customer retention rate:
5 minutes
• Subtract the number of new customers acquired during a period from Video reference
the number of customers at the end of that period Domain 2
• Divide that number by the number of customers at the start of the Processes
period Subtopic: Customer Acquisition
and Retention Costs
• Multiply that number by 100
Objectives covered
Upon completing this project, you will better understand how to determine a processes
customer retention rate. 2.2.4 Analyze customer acquisition
costs and retention costs
1. Becky owns a coffee shop. She wants to figure out her customer Practice the retention rate formula if
time permits.
retention rate for the first quarter (Q1). What is Becky’s customer
retention rate? Round to the nearest whole number.
a. Customers at the end of Q1: 250
b. Customers at the beginning Q1: 225
c. New customers in Q1: 35
d. Customer retention rate: 96
2. Steve owns a food truck. He wants to figure his retention rate for September. What is Steve’s retention rate for
September? Round to the nearest whole number.
a. Customers at the end of September: 130
b. Customers at the beginning of September: 120
c. New customers in September: 20
3. Ryan owns a music store. He wants to know his customer retention rate for the fourth quarter (Q4). What is Ryan’s
customer retention rate? Round to the nearest whole number.
a. Customers at the end of Q4: 275
b. Customers at the beginning of Q4: 260
c. New customers in Q4: 30
Elements of a Marketing Plan Project Details
Project file
An effective marketing team will need a marketing plan to provide direction for N/A
future projects. Marketing plans outline a company’s marketing strategies. They
include any actions that need to occur to reach certain results. The marketing
5 minutes
plan can be used to measure efforts and results over time.
Video reference
Purpose Domain 2
Upon completing this project, you will better understand a marketing plan. Processes
Subtopic: Elements of a Marketing
Steps for Completion Plan
1. Which element of a marketing plan outlines how products or services Objectives covered
will be sold and delivered to customers? 2 Marketing and Sales
a. delivery plan processes
2.2.5 Identify elements of a
2. Which element utilizes a SWOT analysis? marketing plan
a. situation analysis Notes for the teacher

Have the students draft a marketing
3. Which element outlines marketing costs? plan and practice adding the different
elements involved.
a. marketing cost
4. Which element outlines actions needed to execute the marketing plan?
a. strategies and tactics
5. Which element talks about the characteristics of the target market?
a. define target market
6. Which element shows customers the value of a company?
a. offer or message
7. What are the four P’s that make up a company’s marketing mix?
a. promotion, product, place, price
Domain 2 Lesson 3
Fill-in-the-Blanks
1. Developing a sales presentation is part of the step of a sales process. [Elements of a Sales
Process]
2. The last step in a sales process is . [Elements of a Sales Process]
3. sales channels occur in person, where a customer can ask questions before purchasing. [Key
Characteristics of Sales Channels]
4. Selling goods from one business to another is known as sales. [Key Characteristics of Sales Channels]
5. The main role of a customer service department is to cultivate interactions with customers. [Role
of Customer Service and Sales Strategies]
6. A business should have clear on how the customer service team should respond to negative
feedback. [Role of Customer Service and Sales Strategies]
Sales Process Project Details
Project file
A sales process consists of repeatable steps that a salesperson can use to sell N/A
products or services. This process helps the sales team find clients, close sales,
and retain customers. The seven steps are prospecting, preparation, approach,
5 minutes
presentation, objection, closing, and follow-up. Each step is necessary to have a
smooth sales process. It is important to maintain relationships with customers. Video reference
The main role of customer service is to have positive interactions with Domain 2
Topic: Sales Channel Strategies
customers. A large part of customer service focuses on negative feedback.
Subtopic: Elements of a Sales
Setting clear guidelines to respond to these situations is necessary. Process; Role of Customer Service
and Sales Strategies
Purpose
Objectives covered
Upon completing this project, you will better understand the steps of a sales 2 Marketing and Sales
process. 2.3 Identify sales channel strategies
2.3.1 Identify elements of a sales
Steps for Completion process
2.3.4 Identify the role of customer
1. In which step of the sales process would you address customer service and support in sales
concerns? strategies
a. objections Notes for the teacher

Review ways to handle negative
2. In which step of the sales process would potential clients be contacted? feedback if time permits.
a. follow up
3. In which step of the sales process would a customer decide to purchase a product?
a. closing
4. In which step of the sales process would a presentation be shown to a customer?
a. preparation
5. In which step of the sales process would potential customers be identified?
a. prospecting
Sales Channels Project Details
Project file
A sales channel is how a business sells its products or services to a customer. N/A
Two main sales channels are digital and physical. Digital sales channels include
sales made over the internet. There are websites like Amazon and eBay that
5 minutes
provide ease of shopping for a customer. Digital sales channels allow a company
to reach a greater number of customers. One drawback to digital sales channels Video reference
is the need to pay shipping costs. Physical sales channels are brick stores where Domain 2
Topic: Sales Channel Strategies
a customer can purchase items. This location provides an in-person experience
Subtopic: Key Characteristics of
where a customer can interact with employees. Both sales channels are effective Sales Channels
but have different strengths and weaknesses.
Objectives covered
2.3 Identify sales channel strategies
Upon completing this project, you will better understand digital and physical 2.3.2 Identify key characteristics of
sales channels. digital and physical sales channels
2.3.3 Define various types of sales
Steps for Completion channels
1. Label the different stores as either digital or physical sales channels. Use Notes for the teacher
Review sales channels used in your area.
D for digital and P for physical.
a. P Bakery
b. P Wholesale store
c. D Online boutique
d. P Grocery store
e. D Facebook Marketplace
f. D Etsy
g. P Restaurant
2. Define business-to-consumer (B2C) sales:
a. business products selling directly to customers
3. Define business-to-business (B2B) sales:
a. buisness products selling to other buisnesses
Domain 3 Lesson 1
Fill-in-the-Blanks
1. One can expect their sales volume to be when they are in product/market fit. [Elements of the
Product/Market Fit Hypothesis]
2. Product/market fit is making a product or that many people want. [Elements of the
Product/Market Fit Hypothesis]
3. A business must provide customers with quality products to maintain customer .

[Performance and Quality Criteria]
4. A Minimum Viable Product (MVP) is a used to test ease-of-use and functionality to help
determine the user's experience and ultimately improve the user's experience with the product. [Performance and
Quality Criteria]
Product/Market Fit Project Details
Project file
Product/market fit is making a product or service that many people want. One N/A
has reached product/market fit when their sales volume is high and continues to
grow because customers buy the products and recommend them to others.
10 minutes
Companies go through different phases to reach product/market fit. These
phases are the idea stage, the prototype stage, the launch stage, the traction Video reference
stage, the monetization stage, and the growth stage. Domain 3
Topic: Value of a Minimum Viable
Purpose Product
Subtopic: Elements of the
Upon completing this project, you will have a better understanding of Product/Market Fit Hypothesis
product/market fit. Objectives covered
3 Production and Distribution
Steps for Completion 3.1 Identify the value of a Minimum
Viable Product
1. In which stage should one develop a value hypothesis? 3.1.1 Define elements of
product/market fit hypothesis
a.
2. In which stage do sales gain momentum? Review the importance of customer
development if time permits.
a.
3. In which stage is a Minimum Viable Product (MVP) created?
a.
4. In what stage does one find their product/market fit?
a.
5. In which stage does one start to earn revenue?
a.
6. In which stage does one develop a concept for a product or service?
a.
7. What is a value hypothesis?
a.
Quality Project Details
Project file
A business must provide customers with quality products to maintain customer N/A
satisfaction. Customers do not want to purchase products that are difficult to
use or prone to breaking.
5 minutes
Purpose Video reference

Domain 3
Upon completing this project, you will better understand the quality of products Topic: Value of a Minimum Viable
and services. Product
Subtopic: Performance and Quality
Steps for Completion Criteria
1. What is the International Standards Organization’s definition of quality? Objectives covered

a. 3.1 Identify the value of a Minimum
Viable Product
3.1.2 Define performance/quality
criteria

2. Which two aspects of a product do Minimum Viable Products (MVPs) You may choose to discuss hypothetical
Minimum Viable Products (MVPs) for
test?
different scenarios with students if time
a. permits. For example, what MVPs might
students choose to make if they worked
b. at a toy manufacturing company? What
specific features would students want
their MVPs to test?
Domain 3 Lesson 2
Fill-in-the-Blanks
1. Before creating a product, it is wise to what it takes to produce the product. [Creating a Product
or Service]
2. For services, one must spend time finding out what customers' are. [Creating a Product or Service]
3. A business can use to cut down on costs or to improve its product’s function.
[Production Options]
4. A key example of a service many companies use is a software as a service (SaaS) platform.
[Production Options]
5. When developing a quality control process, one should start by determining their quality .
[Quality Control Testing]
6. When setting one’s own quality standards, one must ensure that the standards are . [Quality
Control Testing]
Researching Products and Project Details
Project file
Services N/A

Before creating a product, one should research what it takes to produce the 5 minutes
product. Research can include: Video reference
Domain 3
• Talking with others that have produced the same or a similar product
Topic: Supply Chain and Production
• Gathering information on how to make the product, identifying and Processes
Subtopic: Creating a Product or
procuring the required materials, and how much the materials will cost
Service
• Finding a manufacturer that can make the product if needed Objectives covered
For services, one should spend time finding out what customers' needs are. One
3.2 Identify supply chain and
could find this information by surveying customers in the area, placing phone production processes
calls, talking with individuals interested in the service, talking with customers 3.2.1 Identify the knowledge and
that have received similar services from another company, and purchasing materials needed to create a
equipment to perform the service if needed. product or service

Purpose You may choose to discuss with
students what methods one can use to
Upon completing this project, you will better understand how to find the
obtain this information if time permits.
necessary information to create a product or provide a service. For example, one can look at local or
online retailers to see what carpet
Steps for Completion cleaners are available.
1. What is one piece of information one should research before offering

carpet cleaning services?
a.
2. What is one piece of information one should research before opening an ice cream parlor?
a.
3. What is one piece of information one should research before creating a pet toy?
a.
4. What is one piece of information one should research before offering computer repair services?
a.
Digital and Physical Products Project Details
Project file
and Services N/A

When it comes to digital products and services, consumers can buy an already 10 minutes
created product or service or build their own. Consumers, usually business Video reference
owners themselves, have to analyze control, cost, maintenance, time, and value Domain 3
to determine whether a building or buying option is best for them and their Topic: Supply Chain and Production
company. Business owners must also consider the pros and cons of leasing or Processes
buying physical items. Subtopic: Production Options
Objectives covered
Purpose 3 Production and Distribution
3.2 Identify supply chain and
Upon completing this project, you will better understand software as a service
production processes
(SaaS) types and their benefits and drawbacks. You will also have a better 3.2.2 Identify production options
understanding of the benefits and drawbacks of buying and leasing. for digital and physical products
and services
1. Match the software as a service (SaaS) type to its description. Answers You may choose to discuss some of the
may be used more than once. benefits and drawbacks of value
engineering if time permits.
Prebuilt Build your own
a. Offers a user more control.
b. User is responsible for the maintenance of the software.
c. Has a subscription fee to use the software.
d. Saves a user time.
e. Provides more functionality for specific needs.
2. Why might a business choose to lease office space rather than buy office space?
a.
3. Why might a business choose to buy office space rather than lease office space?
a.
Quality Control Project Details
Project file
The quality control testing process helps ensure that a business delivers a N/A
consistent product or service to customers. When developing a quality control
process, one should start by determining their quality standards. In some
5 minutes
industries, these standards are set by outsiders, such as local health and safety
inspectors, a government regulatory agency, or industry leaders. Video reference
Domain 3
Purpose Topic: Supply Chain and Production
Processes
Upon completing this project, you will have a better understanding of the Subtopic: Quality Control Testing
quality control process.
Objectives covered
Steps for Completion 3.2 Identify supply chain and
production processes
1. Number the steps of the quality control testing process in the correct
3.2.3 Identify quality control
order. testing processes for digital and
physical products and services,
a. Review the internal quality testing results
including adherence to
government regulatory and safety
b. Refine and improve quality methods and measures,
requirements
as needed
c. Set quality standards You may choose to discuss some of the
standards from outside parties that
d. Establish the product quality testing method could affect a business if time permits.
For example, a restaurant’s quality
2.
control process has to consider local
a. health and safety regulations.
3.
a.
Domain 3 Lesson 3
Fill-in-the-Blanks
Instructions: While watching Error! No text of specified style in document., fill in the missing words according to the
information presented by the instructor. [References are found in the brackets.]
1. A distribution channel is a method used to get a product from the to the end-user.
[Distribution Channels]
2. There are two main types of distribution channels: direct channels and channels. [Distribution
Channels]
3. Distribution and fulfillment centers and ship products for businesses. [Direct Distribution and
Fulfillment Services]
4. Distribution and fulfillment centers are both distribution channels. [Direct Distribution and
Fulfillment Services]
Distribution Channels Project Details
Project file
A distribution channel is a method used to get a product from the manufacturer N/A
to the end-user. Depending on the distribution channel used, the product may
pass through many middlemen before reaching the consumer. There are two
10 minutes
main types of distribution channels: direct channels and indirect channels. A
direct channel allows the consumer to make a purchase directly from the Video reference
manufacturer. Indirect distribution channels use middlemen, also known as Domain 3
Topic: Identify Distribution Channels
intermediaries, like wholesalers, retailers, and agents, to sell their products to
Subtopic: Distribution Channels
the end customers.
Objectives covered
Purpose 3 Production and Distribution
3.3 Identify distribution channels
Upon completing this project, you will better understand the two different types 3.3.1 Identify types and factors in
of distribution channels. the selection of distribution
channels
1. What is one advantage of direct distribution channels? You may choose to ask students to
name specific distribution methods and
a. what type of distribution channel they
are. For example, Girl Scout cookies are
a direct distribution channel, while
Amazon is an indirect distribution
channel.
2. What is one disadvantage of indirect distribution channels?
a.
3. What are the two methods commonly used to distribute e-commerce purchases to customers?
a.
4. What are the three methods commonly used to distribute door-to-door purchases to customers?
a.
5. Match the indirect distribution channel level to its description.
One-level Two-level Three-level
a. A wholesaler purchases products, commonly in bulk, from the manufacturer and

then turns around and sells the products to retailers who then sell the products to the end-users.
b. An agent gets involved on top of wholesalers and retailers, adding a middleman to

the mix.
c. A product is purchased from the manufacturer then sold to customers.
Distribution and Fulfillment Project Details
Project file
Centers N/A

Distribution and fulfillment centers store and ship products for businesses. They 5 minutes
are both indirect distribution channels and are commonly referred to as the Video reference
same thing, but they are not the same. A business owner will want to know the Domain 3
differences between both to choose the option that best fits the business’s Topic: Identify Distribution Channels
needs. Subtopic: Direct Distribution and
Fulfillment Services
Purpose
Objectives covered
Upon completing this project, you will better understand the differences 3 Production and Distribution
3.3 Identify distribution channels
between distribution and fulfillment centers.
3.3.2 Identify differences between
direct distribution and fulfillment
Steps for Completion services
1. Match the distribution channel to its description. Use D for distribution Notes for the teacher
center and F for fulfillment center. You may choose to discuss with
students how fulfillment centers are
a. Strategically stores products so that when a customer ideal for long-term storage, while
places an order, the product can be quickly picked up and sent distribution centers are meant for short-
out. term storage if time permits.
b. Receives and temporarily stores goods before

fulfilling the customer’s order and is often used for retail stores.
2. Label the stores as using either a distribution center or a fulfillment center. Use D for distribution center and F for
fulfillment center.
a. Amazon
b. Kohl’s
c. DICK’s Sporting Goods
d. Wayfair
Domain 4 Lesson 1
Fill-in-the-Blanks
1. A(n) refers to the net profit the company wants to make from the sale and is usually
represented using a percentage. [Selling Price]
2. A(n) price represents how much money it costs a business to make or obtain the products or
how much it costs a business to perform the service. [Selling Price]
3. A(n) is a financial report that shows a company's assets, liabilities, and equity for a
specific period. [Basic Financial Statements]
4. is the owner's remaining value after all liabilities have been deducted. [Basic Financial
Statements]
5. A(n) statement, also known as a profit and loss statement, shows the total revenues and
expenses for a specific period. [Basic Financial Statements]
6. The point is the amount of revenue required to cover expenses. [Basic Financial
Statements]
Selling Price Project Details
Project file
Every business must decide on a selling price for its products and services. The N/A
formula to determine the selling price is: (cost x desired profit margin) + cost.
The cost is the amount a business pays for materials or labor. The desired profit
5 minutes
margin is the amount a business wants to earn from selling the product or
service, usually in percentage form. Dividing the percentage by 100 converts it Video reference
to a decimal. Once those numbers are determined, one can plug them into the Domain 4
Topic: Business Financials
formula to determine the selling price.
Subtopic: Selling Price
4 Business Financials
Upon completing this project, you will better understand how to determine a 4.1 Analyze business financials
product’s or service’s selling price. 4.1.1 Determine the selling price of
a product or service
1. Ben owns a shoe store. He has a new line of limited-edition running It may be beneficial to practice other
shoes that he will be selling in his store soon. The cost of manufacturing sample problems with students solving
for selling price if time permits.
the shoes was $18 per pair, and he wants to make a 20% profit on each
pair he sells. What is Ben’s selling price?
a.
2. Adam owns a restaurant. A new dish is being added to the restaurant’s menu. The cost of making the dish is
$6.75, and he wants to make a 33% profit on each dish he sells. What is Adam’s selling price?
a.
3. Cory owns a home goods store. He is about to add a new line of candles to his store. The cost of manufacturing
the candles is $8.46 per candle, and he wants to make a 52% profit on each candle. What is Cory’s selling price?
a.
Calculating Equity Project Details
Project file
The cash a company has, a company’s accounts receivable, inventory, N/A
equipment, and company vehicles are assets. Liabilities are the money that a
company owes, and this includes accounts payable such as credit card
5 minutes
payments, bank loans, and mortgage payments. Subtracting liabilities from
assets calculates equity. A company’s balance sheet shows assets, liabilities, and Video reference
equity. Domain 4
Purpose Subtopic: Basic Financial
Statements
Upon completing this project, you will better understand how to calculate
Objectives covered
equity. 4 Business Financials
4.1 Analyze business financials
Steps for Completion 4.1.2 Interpret basic financial
statements such as income sheets
1. Mallory owns an auto repair shop. She has $12,000 in cash, $8,000 in and balance sheets
inventory, a $4,000 credit card balance, and $3,500 in long-term debt.
What is Mallory’s equity? Notes for the teacher
You may choose to discuss further
a. examples of assets and liabilities with
students if time permits.
2. Ashley sells cars. She has $26,000 in cash, $34,000 in inventory, a $4,600
credit card balance, and $7,900 in long-term debt. What is Ashley’s
equity?
a.
3. Mindy owns a restaurant. She has $14,200 in cash, $2,600 in inventory, $5,000 in equipment, a $3,800 credit card
balance, and $1,400 in long-term debt. What is Mindy’s equity?
a.
Calculating Information on an Project Details
Project file
Income Statement N/A

Subtracting the cost of goods and expenses from income calculates net income. 10 minutes
Subtracting the cost of goods from income calculates gross income. Multiplying Video reference
gross profit by the tax rate calculates income tax expense. Dividing total Domain 4
expenses by sales price calculates a break-even point. An income statement Topic: Business Financials
shows these types of financial information. Subtopic: Basic Financial
Statements
Purpose
Objectives covered
Upon completing this project, you will better understand how to calculate 4 Business Financials
different financial information found on an income statement.
4.1.2 Interpret basic financial
statements such as income sheets
Steps for Completion and balance sheets
1. Mallory sells hats. Last month, Mallory had an income of $3,800, her Notes for the teacher
cost of goods was $875, and her total expenses were $1,400. What was You may choose to discuss why
Mallory’s gross income? students need to know these different
types of financial information if time
a. permits. For example, a business owner
may need to know their net income to
2. Karen’s income last month was $5,400. Her cost of goods was $925, and ensure they have enough money to pay
her total expenses were $3,300. What was Karen’s net income? for their expenses.
a.
3. Jane owns a dress-making business. Her income last quarter was $8,000, her cost of goods was $1,500, and her
total expenses were $3,000. What were Jane’s gross income and net income?
a. Gross income:
b. Net income:
4. Gabe owns a candied nut cart. He sells his cup of nuts for $6, and his monthly cost is $810. How many cups of
candied nuts does Gabe need to sell to break even?
a.
5. Chuck owns a pizza shop. He only sells large pizzas and charges $18 per pizza. His total monthly cost is $2,600.
How many pizzas does Chuck have to sell to break even each month?
a.
Domain 4 Lesson 2
Fill-in-the-Blanks
1. Fixed costs remain the same no matter the volume of . [Fixed and Variable Costs]
2. Variable costs depending on production. [Fixed and Variable Costs]
3. A is used to identify the amount of cash a company is spending every month. [Analyze a
Company’s Cash Flow]
4. A is used to make projections about a company’s future performance. [Analyze a Company’s

Cash Flow]
5. Return on investment (ROI) is used by businesses to show them how much their is earning.
[ROI]
6. ROI gives business owners a way to calculate whether their product or service is or if they
need to make adjustments. [ROI]
Fixed and Variable Costs Project Details
Project file
Fixed and variable costs are the two main costs that companies incur when N/A
producing products and services. Fixed costs remain the same no matter the
volume of production. Variable costs fluctuate depending on production.
5 minutes
Purpose Video reference

Domain 4
Upon completing this project, you will better understand the difference between Topic: Business Financials
fixed and variable costs. Subtopic: Fixed and Variable Costs
Steps for Completion Objectives covered

1. Gary is opening a restaurant. Determine whether his costs are fixed or 4.1 Analyze business financials
variable. Use F for fixed and V for variable. 4.1.3 Differentiate between fixed
and variable costs
a. Takeaway boxes
b. Rent You may choose to discuss specific
scenarios and have students list
c. Credit card bill different associated costs and discern
between fixed and variable costs if time
d. Ingredients permits. For example, what costs can
students think of that are associated
2. Bryan owns a clothing store. Determine whether his costs are fixed or with owning a food truck? Which of
variable. Use F for fixed and V for variable. those costs do students think are fixed
and which do they think are variable?
a. Insurance
b. Internet bill
c. Clothes
d. Employees’ salaries
Calculating Cash Flow Project Details
Project file
Investors and businesses use a cash flow analysis to understand how much cash N/A
the business generates and spends over a specific period. Subtracting total costs
from total cash calculates an ending cash balance. A burn rate identifies the
10 minutes
amount of cash a company is spending every month and measures cash flow.
Subtracting a month’s ending balance from a month’s starting balance Video reference
calculates a burn rate. A run rate predicts a company’s future performance by Domain 4
using the current financials for a specific period, usually a month, to predict the
Subtopic: Analyze a Company’s
company's future performance. Multiplying a month’s revenue by 12 calculates Cash Flow
a run rate.
Objectives covered
Purpose 4 Business Financials
Upon completing this project, you will better understand how to calculate an 4.1.4 Analyze a company’s cash
ending cash balance, burn rate, and run rate. flow

Steps for Completion You may need to explain further what
burn rates and run rates are to help
1. Zach owns a car detailing shop. Last year, he had a beginning cash
ensure that students do not confuse the
balance of $5,600, total cash sales of $21,800, $4,700 in utilities, $3,400 two terms.
in loan payments, and $1,200 in marketing costs. What was Zach’s
ending cash balance for last year?
a.
2. Clara owns a bakery. Last year, she had a beginning cash balance of $3,700, total cash sales of $16,500, $3,700 in
utilities, $2,500 in loan payments, and $1,600 in marketing costs. What was Clara’s ending cash balance for last
year?
a.
3. Andrea owns a food truck. Last month, her starting balance was $3,400, her ending balance was $5,300, and her
revenue was $4,700. What was Andrea’s burn rate for last month, and what is her current run rate?
a. Burn rate:
b. Run rate:
4. Melinda sells candles. Last month, her starting balance was $6,200, her ending balance was $4,900, and her
revenue was $2,300. What was Melinda’s burn rate for last month, and what is her current run rate?
a. Burn rate:
b. Run rate:
Calculating ROI Project Details
Project file
Businesses use a return on investment (ROI) to show them how much their N/A
investment is earning. ROI gives business owners a way to calculate whether
their product or service is cost-effective or if they need to make adjustments.
10 minutes
Subtracting the cost of investment from the value of investment calculates net
profit. Dividing net profit by the cost of investment, then multiplying the result Video reference
by 100 calculates ROI. Domain 4
Purpose Subtopic: ROI
Objectives covered
Upon completing this project, you will have a better understanding of how to
calculate ROI. 4.1 Analyze business financials
4.1.4 Calculate the ROI of a
Steps for Completion product or service
1. Tina sells cookies. What is Tina’s ROI? Notes for the teacher
Review calculations with students.
a. Production cost: $7.65/box of cookies
b. Selling price: $12/boxes of cookies
c. ROI:
2. Sherry sells purses. What is Sherry’s ROI?
a. Production cost: $17.20/purse
b. Selling price: $30/purse
c. ROI:
3. Chris provides tree trimming services. What is Chris’s ROI?
a. Production cost: $48.89/tree trim
b. Selling price: $65/tree trim
c. ROI:
Domain 4 Lesson 3
Fill-in-the-Blanks
1. An operating budget outlines the a business will need to run efficiently. [Operating Budget and
Startup Costs]
2. An operating budget includes a breakdown of all of a company's fixed and variable monthly costs and operating
expenses such as depreciation and interest on . [Operating Budget and Startup Costs]
3. Bootstrapping is where an owner uses their own to fund a business. [Funding Options and
Requirements]
4. The Small Business Administration (SBA) makes it easier for small businesses to get loans by reducing
the for lenders, community development organizations, and other lending institutions. [Funding
Options and Requirements]
Startup Costs and Operating Project Details
Project file
Budgets N/A

Every business will have bills. Before one starts a business, one will need to 10 minutes
understand their expenses. A business owner may not know the exact costs for Video reference
each of their projected expenses, but they should do their best to estimate. Domain 4
Estimating expenses helps a business owner calculate their startup costs, which Topic: Funding Options
they will incur while creating a new business. In addition to determining startup Subtopic: Operating Budget and
costs, a business owner should also create an operating budget. An operating Startup Costs
budget projects revenues and expenses for a specified period, such as a quarter Objectives covered
or a year. 4 Business Financials
4.2 Analyze funding options
Purpose 4.2.1 Determine operating budget
and start-up costs
Upon completing this project, you will better understand common startup costs
and the purpose of an operating budget. Notes for the teacher
You may choose to look up a sample
Steps for Completion operating budget to show students if
time permits.
1. List five common startup costs that most businesses need to plan for
before starting the business.
a.
2. List two recurring costs that most businesses have.
a.
3. List two one-time expenses that most businesses have.
a.
4. What is one reason why a company should make an operating budget?
a.
Funding Options Project Details
Project file
There are a variety of funding options when starting a new business. N/A
Bootstrapping is when an owner uses their own savings to fund the business.
Business owners must pay back Small Business Administration (SBA) loans with
5 minutes
interest. Small Business Administration (SBA) grants are available to small
businesses engaged in scientific research and development and businesses that Video reference
help export development. These grants do not need to be repaid. An angel Domain 4
Topic: Funding Options
investor helps fund a business or a specific project, usually for a stake in the
Subtopic: Funding Options and
company. Crowdfunding is when a business owner shares their startup business Requirements
on an online platform to pre-sell their products. Business owners can use the
money from the pre-sale orders as capital to build the products. Objectives covered
Purpose 4.2 Analyze funding options
4.2.2 Identify various funding
Upon completing this project, you will better understand the different funding options
options available to business owners. Notes for the teacher
You may choose to ask students which
Steps for Completion funding option they would choose for
themselves and why if they were a
1. Why might bootstrapping not be a viable option for many new business business owner if time permits.
owners?
a.
2. When must Small Business Administration (SBA) real estate loans and equipment and inventory loans be repaid?
a.
3. List two eligibility requirements for Small Business Administration (SBA) grants.
a.
4. investors are wealthy individuals willing to finance a business for an equity stake in the business in
return.
5. What is one reason a business owner should read a crowdfunding platform’s fine print before using it as a funding
source?
a.
Appendix
61 | Appendix Entrepreneurship and Small Business V.2 Project Workbook, First Edition
Glossary
Term Definition
Acquisition Cost incurred by a business.

Costs
Angel Investor An investor who provides funding to a business for a stake in the business in return.
Asset A tangible item a business owns.
Balance Sheet A document that compares assets to liabilities plus owner's equity.
Brand The level of familiarity one has with a brand.
Recognition
Bootstrapping A business owner that uses their own money to fund their business.
Break-Even The point where a business's revenue matches its expenses over a given period.
Point
Budget The amount of money a business plans on spending during a given period.
Burn Rate A calculation used to measure a business's monthly cash flow.
Business A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business
Opportunity is feasible.
Business Plan A document that addresses the concept, customers, and capital for a business.
B2B A business-to-business (B2B) commercial transaction between businesses.
B2C A business-to-consumer (B2C) transaction.
C Corporation A business structure that allows the company to pass its income, losses, deductions, and credits
through its shareholders to decrease their taxation.
CEO The Chief Executive Officer (CEO) holds a leadership role within a business. The CEO oversees a
business's operations and resources and makes the major decisions for the company.
CFO The Chief Financial Officer (CFO) holds a leadership role within a business. The CFO oversees a
company's finances.
COO The Chief Operating Officer (COO) holds a leadership role within a business. The COO is responsible
for overseeing the day-to-day administrative and operational functions of a business.
Critical Thinking Using one's mind to solve a problem in the best way by considering various potential solutions to the
problem.
Crowdfunding The method of sharing a start-up business online to pre-sell products.
Chamber of A local agency with information on participating local businesses.
Commerce
Collaboration The action of working with one or more people toward a common goal.
Commission A fee paid to an employee for completing a task.
Compensation A monetary amount given to employees in return for their work.
Confidentiality A signed agreement stating that an entity will not disclose information agreed upon by all parties in
Agreement an arrangement.
Contract An agreement between an employee and a company outlining obligations and terms of employment.
Copyright A form of protection individuals can implement to protect their intellectual property. Copyright is
designated for print, music, film, and various other forms of creative licenses.
Customer An individual or business that purchases goods and services from a business.
Customer The total cost of acquiring a new customer.
Acquisition Cost
Customer Activities or strategies employed by a business to retain existing customers.
Retention
Demographics Statistical data that refers to particular groups within a population.
Distribution A method used to get a product from the manufacturer to the end-users.
Channel
Employee An individual hired by a company and compensated for their work.
Entrepreneur An individual who aspires to start and run a successful business.
Equity Non-cash compensations offered to employees in place of or in addition to a lower salary.
Ethical Practices Standards of professional conduct professionals should uphold.
Fixed Costs Costs a business has that remain the same no matter the volume of production.
Franchise A business that takes its name and characteristics from an existing business chain.
Forward- Thinking about and planning for the future.
Thinking
Mentality
Founder The person that developed or created a company or organization.
Grit The characteristic of being able to tackle goals with courage and perseverance.
Growth Mindset Believing that one can accomplish anything with hard work.
Hourly Pay A payment amount provided to employees for the number of hours they worked.
Income A financial statement that details a business's revenue and expenses for a given period.
Statement
Intellectual A creative work or invention to which an individual has been given rights.
Property
Inventory Goods a business owns with the purpose of selling.
Initiative A characteristic in which an individual acts to turn ideas into action.
Innovation A new idea, product, or method.
Investor A person or entity willing to provide monetary funds to a business with the hopes of earning a return
on their money.
Lean Canvas A one-page document discussing key information commonly seen in a business plan.
Liability The amount of money owed to an entity.
LLC A limited liability company (LLC) is a business with pass-through taxation where owners pay taxes on
the company's profit and losses through their personal taxes.
Marketing A form of communication between businesses and customers which relays a message promoting
services and/or goods.
Marketing Plan A written plan that outlines a company's marketing strategies.
MVP A minimum viable product (MVP) is an inexpensive preliminary product to test the product idea.
Nonprofit A type of business that has no owner and does not pay federal US taxes.
Operating Costs The expenses incurred for running day-to-day tasks in a business.
Opportunity The way one approaches new ideas and ventures in their life.
Recognition
Owner The individuals that own the business.
Partners Two or more individuals that share a business's financial responsibility.
Patent A legal method used to protect an invention for a limited time.
Personal Agency One's ability to act to work toward achieving a goal.
Piece Work A type of compensation provided for the amount of work produced.
Pitch Deck A presentation given to potential investors to provide a brief overview of the business plan to earn
another meeting.
Price The amount of money charged for goods or services.
Primary Data First-hand research like surveys, interviews, and statistical data.
Problem-Solving The process of coming up with solutions to solve a problem.
Product A tangible item.
Product/Market The stage where a business's sales are high and continue to grow because their product or service is
Fit something customers want and continue to purchase.
Profit The amount of financial gain from a business.
Prototype A preliminary product, commonly a product with minimum viability, from which to test and develop.
Resiliency One's ability to adapt to change, loss, and disappointment.
Revenue The number of sales and other income in a business for a given period.
Risk The possibility of something negative happening. In the context of a small business, the possibility of
a loss of time and money.
Risk Tolerance The level of willingness to lose time and money when starting a business.
ROI Return on investment (ROI) is a calculation used to determine how much an investment is making.
Royalty Fees Fees paid for the use of a brand name or image.
Run Rate A calculation used to make projections about a company's future performance.
S Corporation A type of business structure with a special tax advantage that allows the company to pass its income,
losses, deductions, and credits through its shareholders.
Salary A fixed payment amount provided to a full-time employee.
Sales Channel How a business sells its products and services to the end customer.
Sales Pitch A persuasive speech prepared to entice a potential customer to purchase a service or good.
Secondary Data Data that may contain personal bias like company newsletters and academic journals.
Self-Reliance Trusting one's self, goals, and progress.
Selling Price The price a company charges for its product or service. The selling price is determined by adding the
cost price and the profit margin the company wants to earn.
Service An intangible service or skill that is performed.
Small Business A corporation, partnership, or sole proprietorship that is privately owned by one individual or a small
group of people. They commonly have fewer employees and revenue than larger-sized businesses.
Small Business The Small Business Administration (SBA) is an independent government agency specializing in
Administration providing small businesses with assistance to get their business up and running.
SWOT Analysis A planning tool used to document a company's strengths, weaknesses, opportunities, and threats.
Sole A type of business structure with a single owner. The business is not shielded from any amount of
Proprietorship liability.
Stakeholder An individual with an interest in a business.
Stockholder An individual that owns at least one share in a corporation's stock.
Target Market The group of customers a company chooses to market its products and services.
Trademark A practice used to protect brand names, logos, and business names.
Trade Secret A practice used by businesses to protect a practice, process, or formula from being shared with other
competitors.
Value A promise of value that a company makes about their product or service that makes it attractive to
Proposition customers.
Variable Costs Fluctuating costs that a business has depending on production.
Objectives
COURSE Objectives
Domain 1
Entrepreneurial and Small Domain 2 Domain 3 Domain 4
Business Concepts Marketing and Sales Production and Distribution Business Financials
1.1 Identify the foundational 2.1 Interpret market 3.1 Identify the value of a Minimum Viable 4.1 Analyze business
concepts of entrepreneurship research Product financials
and small business ownership 2.1.1 Define target 3.1.1 Define elements of product/market fit 4.1.1 Determine the selling
1.1.1 Define entrepreneurship market, value hypothesis price of a product or
and small business proposition, and pricing 3.1.2 Define performance/quality criteria service
1.1.2 Classify types of 2.1.2 Distinguish 4.1.2 Interpret basic
businesses between primary and financial statements such
1.1.3 Identify various legal secondary data as income sheets and
structures of a business 2.1.3 Evaluate
balance sheets
1.1.4 Identify roles and competition
4.1.3 Differentiate
responsibilities within a 2.1.4 Complete a SWOT
between fixed and variable
business analysis
1.1.5 Define business costs
compensation structures 4.1.4 Analyze a company’s
1.1.6 Define business life cycle cash flow
stages 4.1.5 Calculate the ROI of a
1.1.7 Identify elements of the product or service
design thinking process
1.2 Identify knowledge and 2.2 Analyze aspects of 3.2 Identify supply chain and production 4.2 Analyze funding
skills of a successful marketing processes processes options
entrepreneur 2.2.1 Identify marketing 3.2.1 Identify the knowledge and materials 4.2.1 Determine operating
1.2.1 Identify characteristics of platforms needed to create a product or service budget and start-up costs
an entrepreneurial mindset 2.2.2 Apply marketing 3.2.2 Identify production options for digital and 4.2.2 Identify various
1.2.2 Identify the risks, methods physical products and services funding options
benefits, opportunities, and 2.2.3 Analyze market 3.2.3 Identify quality control testing processes 4.2.3 Identify
drawbacks of being an reactions and sales data for digital and physical products and services, requirements for obtaining
entrepreneur 2.2.4 Analyze customer including adherence to government regulatory
funding
acquisition costs and and safety requirements
retention costs
2.2.5 Identify elements of
a marketing plan
1.3 Recognize potential 2.3 Identify sales channel 3.3 Identify distribution channels
business opportunities strategies 3.3.1 Identify types and factors in the selection
1.3.1 Identify characteristics of 2.3.1 Identify elements of of distribution channels
a business opportunity a sales process 3.3.2 Identify differences between direct
1.3.2 Determine the viability of 2.3.2 Identify key distribution and fulfillment services
a business opportunity characteristics of digital
and physical sales
channels
2.3.3 Define various
types of sales channels
2.3.4 Identify the role of
customer service and
support in sales
strategies
1.4 Identify the elements of a
business plan
1.4.1 Identify the purposes and
value of a business plan, pitch
deck, and lean canvas
COURSE Objectives
Domain 1
Entrepreneurial and Small Domain 2 Domain 3 Domain 4
Business Concepts Marketing and Sales Production and Distribution Business Financials
1.4.2 Define the key
components of a business plan
and pitch deck
1.5 Identify intellectual
property concepts
1.5.1 Differentiate between
trademarks, trade secrets,
copyrights, and patents
1.5.2 Identify the value, risks,
and guidelines associated
with using licensed materials
Entrepreneurship and Small
Business V.2 Lesson Plan
Approximately 13 hours of videos, labs, and projects.
Domain 1 Lesson Plan

Domain 1 - Entrepreneurial and Small Business Concepts [approximately 4 hours of videos, labs, and projects]
Lesson Lesson Topic and Subtopics Objectives Exercise Labs Workbook Projects and Files
Pre-Assessment Entrepreneurial and Small Business
Assessment time - Concepts: Pre-Assessment
00:30:00
Lesson 1 Entrepreneurship and Small 1.1 Identify the foundational concepts of Business Types Small Business Types – pg. 10
Video time - Business Ownership (Part 1) entrepreneurship and small business ownership Products and Services N/A
00:25:22 How to Study for This Exam 1.1.1 Define entrepreneurship and small Legal Structure Types Legal Structures – pg. 11
Exercise Lab time - Entrepreneurship and Small Business business Business Roles N/A
00:36:00 Classify Types of Businesses 1.1.2 Classify types of businesses Compensation Types Roles and Compensation –
Workbook time - Business Legal Structures 1.1.3 Identify various legal structures of a Business Life Cycle pg. 12
00:25:00 Business Roles and Responsibilities business Description of a N/A
Business Compensation Structures 1.1.4 Identify roles and responsibilities within a Business Life Cycle Business Life Cycle Stages–
Business Life Cycle Stages business Description of Design pg. 13
The Design Thinking Process 1.1.5 Define business compensation structures Thinking N/A
1.1.6 Define business life cycle stages Design Thinking Stages The Design Thinking Process –
1.1.7 Identify elements of the design thinking pg. 14
process N/A
Lesson 2 Skills of a Successful Entrepreneur 1.2 Identify knowledge and skills of a successful Characteristics of Mindset, Risks, and Benefits –
Video time - Characteristics of an Entrepreneurial entrepreneur Entrepreneurs pg. 17
00:20:38 Mindset 1.2.1 Identify characteristics of an More Characteristics of N/A
Exercise Lab time - Entrepreneurship Risks and Benefits entrepreneurial mindset Entrepreneurs Business Opportunities – pg.
00:24:00 Potential Business Opportunities 1.2.2 Identify the risks, benefits, opportunities, Business Elements 18
Workbook time - Characteristics of a Business and drawbacks of being an entrepreneur Business Plan N/A
00:20:00 Opportunity 1.3 Recognize potential business opportunities Components Business Plan, Pitch Deck, and
Viability of a Business Opportunity 1.3.1 Identify characteristics of a business Pitch Deck Components Lean Canvas – pg. 19
Business Plan Elements opportunity Legal Protections N/A
Business Plan, Pitch Deck, and Lean 1.3.2 Determine the viability of a business Intellectual Propert Laws– pg.
Canvas opportunity 20
Key Components of a Business Plan 1.4 Identify the elements of a business plan N/A
Key Components of a Pitch Deck 1.4.1 Identify the purposes and value of a
Intellectual Property Concepts business plan, pitch deck, and lean canvas
Trademarks, Trade Secrets, 1.4.2 Define the key components of a business
Copyrights, and Patents plan and pitch deck
Using Licensed Materials 1.5 Identify intellectual property concepts
1.5.1 Differentiate between trademarks, trade
secrets, copyrights, and patents
1.5.2 Identify the value, risks, and guidelines
associated with using licensed materials
Post-Assessment Entrepreneurial and Small Business
Assessment time - Concepts: Post-Assessment
01:00:00
67 | Entrepreneurship and Small Business V.2 Lesson Plan Entrepreneurship and Small Business V.2 Project Workbook, First Edition
Domain 2 - Marketing and Sales [approximately 3 hours of videos, labs, and projects]
Lesson Lesson Topic and Subtopics Objectives Exercise Labs Workbook Projects and
Files
Pre-Assessment Marketing and Sales: Pre-
Assessment time - Assessment
00:30:00
Lesson 1 Market Research 2.1 Interpret market research Understanding Competition Market Research – pg. 23
Video time - Target Market, Value 2.1.1 Define target market, value proposition, Types N/A
00:07:51 Proposition, and Pricing and pricing Understanding SWOT Evaluating Competition –
Exercise Lab time - Primary and Secondary Data 2.1.2 Distinguish between primary and Analysis Elements pg. 24
00:08:00 Evaluate Competition secondary data N/A
Workbook time - SWOT Analysis 2.1.3 Evaluate competition
00:10:00 2.1.4 Complete a SWOT analysis
Lesson 2 Aspects of Marketing Processes 2.2 Analyze aspects of marketing processes Data Types Marketing Platforms – pg.
Video time - Part 1 2.2.1 Identify marketing platforms Filtering Products 27
00:14:46 Marketing Platforms and 2.2.2 Apply marketing methods Elements of Marketing Plans N/A
Exercise Lab time - Marketing Methods 2.2.3 Analyze market reactions and sales data Market Segments – pg. 28
00:12:00 Market Reactions and Sales 2.2.4 Analyze customer acquisition costs and N/A
Workbook time - Data retention costs Customer Acquisition
00:25:00 Customer Acquisition and 2.2.5 Identify elements of a marketing plan Costs -- pg. 29
Retention Costs N/A
Elements of a Marketing Plan Customer Retention Costs
– pg. 30
N/A
Elements of a Marketing
Plan – pg. 31
N/A
Lesson 3 Sales Channel Strategies 2.3 Identify sales channel strategies Sales Process Sales Process – pg. 34
Video time - Elements of a Sales Process 2.3.1 Identify elements of a sales process N/A
00:05:24 Key Characteristics of Sales 2.3.2 Identify key characteristics of digital and Sales Channels– pg. 35
Exercise Lab time - Channels physical sales channels N/A
00:04:00 Role of Customer Service and 2.3.3 Define various types of sales channels
Workbook time - Sales Strategies 2.3.4 Identify the role of customer service and
00:05:00 support in sales strategies
Post-Assessment Marketing and Sales: Post-
01:00:00
Domain 3 - Production and Distribution [approximately 3 hours of videos, labs, and projects]
Lesson Lesson Topic and Objectives Exercise Labs Workbook Projects and
Subtopics Files
Pre-Assessment Production and
Assessment time Distribution: Pre-
- 00:30:00 Assessment
Lesson 1 Value of a Minimum 3.1 Identify the value of a Minimum Viable Product Phases of the Product/Market Fit – pg.
Video time - Viable Product 3.1.1 Define elements of product/market fit hypothesis Product/Market Fit 38
00:03:56 Elements of the 3.1.2 Define performance/quality criteria Product/Market Fit N/A
Exercise Lab Product/Market Fit Description Quality – pg. 39
time - 00:08:00 Hypothesis N/A
Workbook time - Performance and Quality
00:15:00 Criteria
Supply Chain and
Production Processes
Part 1
Lesson 2 Supply Chain and 3.2 Identify supply chain and production processes Buying vs. Building Researching Products and
Video time - Production Processes 3.2.1 Identify the knowledge and materials needed to create a Digital Services Services – pg. 42
00:07:58 Creating a Product or product or service Creating a Quality N/A
Exercise Lab Service 3.2.2 Identify production options for digital and physical products Control Process Digital and Physical
time - 00:08:00 Production Options and services Products and Services– pg.
Workbook time - Quality Control Testing 3.2.3 Identify quality control testing processes for digital and 43
00:20:00 physical products and services, including adherence to N/A
government regulatory and safety requirements Quality Control – pg. 44
N/A
Lesson 3 Identify Distribution 3.3 Identify distribution channels Fulfillment vs. Distribution Channels– pg.
Video time - Channels 3.3.1 Identify types and factors in the selection of distribution Distribution Centers 47
00:04:15 Distribution Channels channels N/A
Exercise Lab Direct Distribution and 3.3.2 Identify differences between direct distribution and Distribution and
time - 00:04:00 Fulfillment Services fulfillment services Fulfillment Centers – pg.
Workbook time - 48
00:15:00 N/A
Post- Production and
Assessment Distribution: Post-
Assessment time Assessment
- 01:00:00
Domain 4 - Business Financials [approximately 3 hours of videos, labs, and projects]
Lesson Lesson Topic and Subtopics Objectives Exercise Labs Workbook Projects and Files
Pre-Assessment Business Financials: Pre-Assessment
Assessment time -
00:30:00
Lesson 1 Business Financials Part 1 4.1 Analyze business financials N/A Selling Price – pg. 51
Video time – Selling Price 4.1.1 Determine the selling price of a product or N/A
0010:27 Basic Financial Statements service Calculating Equity – pg. 52
Exercise Lab time - 4.1.2 Interpret basic financial statements such N/A
00:00:00 as income sheets and balance sheets Calculating Information on an
Workbook time - Income Statement – pg. 53
00:20:00 N/A
Lesson 2 Business Financials Part 2 4.1 Analyze business financials Understanding Cost Fixed and Variable Costs – pg. 56
Video time - Fixed and Variable Costs 4.1.3 Differentiate between fixed and variable Types N/A
00:08:44 Analyze a Company’s Cash Flow costs Calculating Cash Flow – pg. 57
Exercise Lab time - ROI 4.1.4 Analyze a company’s cash flow N/A
00:04:00 4.1.5 Calculate the ROI of a product or service Calculating ROI – pg. 58
Workbook time - N/A
00:25:00
Lesson 3 Funding Options 4.2 Analyze funding options Finding Options Startup Costs and Operating
Video time - Operating Budget and Startup Costs 4.2.1 Determine operating budget and start-up Budgets – pg. 61
00:05:07 Funding Options and Requirements costs N/A
Exercise Lab time - 4.2.2 Identify various funding options Funding Options – pg. 62
00:04:00 4.2.3 Identify requirements for obtaining N/A
Workbook time - funding
00:15:00
Post-Assessment Business Financials: Post-
01:00:00

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Identify the knowledge and skills of a successful entrepreneur.

Recognize potential business opportunities.

Identify the elements of a business plan.

Identify intellectual property concepts.

Interpret market research.

Analyze aspects of marketing processes.

Identify sales channel strategies.

Identify the value of a Minimum Viable Product.

Identify supply chain and production processes.

Identify distribution channels.

Analyze business financials.

Analyze funding options.

Domain 2 Video Time

Domain 3 Video Time

Domain 4 Video Time

4. When a purchases an item from a business, it is a business-to-consumer transaction. [Classify

5. are for-profit corporations with limited liability. [Business Legal Structures]

6. are ideal for international businesses. [Business Legal Structures]

7. The oversees daily operational and administrative functions. [Business Roles

8. A votes on the management of a company. [Business Roles and Responsibilities]

11. in addition to a lower salary. [Business Compensation Structures]

c. product Toilet paper

e. service Web designs

g. service Guitar lessons

b. C corporation Best for international business even with being double-taxed

c. S corporation Easy to create but comes with unlimited liability

e. Sole porprietorship Ideal for a single owner seeking low risk

f. Partnership Shared financial backing

b. Oversees company finances

c. Owns stock in the company

d. Reports to the board of directors

e. Oversees daily operational and administrative functions

f. Has a vested interest in the success of the company

2. Match the business compensation type with the corresponding definition

b. Set rate of pay for hours worked

c. Usually found in sales roles

d. Set amount of pay in a given period

Purpose Objectives covered

a. Notes for the teacher

3. An example of an risk is a natural disaster. [Entrepreneurship Risks and Benefits]

4. A business opportunity is an that lets a buyer start a business. [Characteristics of a

5. A needs to be obtained to use a brand name on products. [Characteristics of a Business

16. Confidentiality or agreements are signed by employees, agreeing not to share

2. Name one example of a political risk that an entrepreneur might face.

3. Name one example of an environmental risk that an entrepreneur might face.

4. Name one example of a financial risk that an entrepreneur might face.

3. Which business opportunity obtains licenses to use a brand name?

4. Which viability factor involves the potential funding of a business opportunity?

5. Which viability factor involves building relationships with experienced professionals?

7. Which viability factor analyzes the skills of employees?

8. Which viability factor researches the demand for products or services?

Estimated completion time

2. What is the purpose of a lean canvas?

Steps for Completion Notes for the teacher

4. Secondary data often contains . [Primary and Secondary Data]

7. A SWOT analysis documents a company’s strengths, weaknesses, , and threats. [SWOT

8. Financial limitations would be an example of a in a SWOT analysis. [SWOT Analysis]

A. Females, ages 13-19