Lesson idea 2

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Slide 1:

Lesson: Describing and explaining a business idea [90 mins] Needs Dragons Den clip – Reggae Reggae Sauce Starter 5 mins Multi-choice question Intro 5 mins Introducing lesson objective Activity 1a 5 mins Come up with three business ideas Write each one on a piece of paper Activity 1b 5 mins Go through all the ideas discussing the 3 Cs and price Activity 2 5 mins Group is to help narrow down each person ’ s three ideas to one. Feedback on each idea. Activity 3 5 mins Group to come up with a list of questions Feedback on questions Activity 4 10 mins Dragons Den clip Reggae Reggae sauce Watch for the questions Any more questions? Activity 5 15 mins Each person to work on an individual pitch Activity 6 10 mins Make the pitch to your group Activity 7 15 mins One from each group to pitch to the class with a set of draqons [one from each group?] Plenary 10 mins Review the issues involved in spotting a business opportunity. Could finish with a simple flow diagram

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Innocent Drinks became a very successful business. Which of the following would NOT have contributed to their success? Quality ingredients Interesting packaging A shortage of cash Owners prepared to take risks To be able to describe and explain a business idea

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Innocent Drinks became a very successful business. Which of the following would NOT have contributed to their success? Quality ingredients Interesting packaging A shortage of cash Owners prepared to take risks To be able to describe and explain a business idea

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Task – 3 business ideas Write each one on a piece of paper. Fold it and put it in the middle of the table. Mix up the pieces of paper To be able to describe and explain a business idea

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Choosing one idea at a time Discuss the idea: the person who came up with the idea should explain it first then others need to express their opinions Who might the customers be? What costs would you have? What competitors are there? What price could you charge? To be able to describe and explain a business idea Groupwork

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As a group, help each person narrow down their three ideas to just one. 3 1 To be able to describe and explain a business idea

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What questions should you be asking about each idea? To be able to describe and explain a business idea

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Who do you think the customers will be? Why should they buy your product? How much will they pay? How often will they buy your product? Where will your customers buy your product? Who would your competitors be? What costs will you have? What suppliers will you have to deal with? How much capital do you need to raise? To be able to describe and explain a business idea Did you think of any of these?

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Who do you think the customers will be? Why should they buy your product? How much will they pay? How often will they buy your product? Where will your customers buy your product? Who would your competitors be? What costs will you have? What suppliers will you have to deal with? How much capital do you need to raise? The 3 Cs Customers Competitors Costs To be able to describe and explain a business idea Watch this clip from Dragons Den What questions did the Dragons ask? Are there any questions you would have asked? Reggae Reggae Sauce

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Prepare to pitch your idea to some ‘dragons’ To be able to describe and explain a business idea

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Pitch your idea to your group The group must discuss the ideas and choose one to go through to the ‘final’. To be able to describe and explain a business idea

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Describing an idea What the business does What resources it is using Who the customers might be Explaining an idea Why might customers buy it Why you think it will be successful To be able to describe and explain a business idea

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Your business Suppliers Customers £ £

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Your business Suppliers Customers £ £ Finance ? Money to start the business Laws ? Are there any laws which might affect the business What will you need to buy? Why will your customers buy from you?

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Your business Suppliers Customers £ £ Finance ? Money to start the business Laws ? Are there any laws which might affect the business What will you need to buy? Why will your customers buy from you? What could go wrong?

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