A WebQuest By Carol Jennings START Introduction Assignment 1 Assign. 1 cont. Assignment 2 Process Description of Business Marketing Finances Management Evaluation Grading Criteria Conclusion

This WebQuest focuses on two essential questions: 1.What are the key characteristics of successful entrepreneurs? 2.Why does a business succeed? BeginningAssignment 1

Some traits that will increase your odds of entrepreneurial success are:  An eye for opportunity - finding a need and quickly satisfying it.  Independence – you enjoy being your own boss.  An appetite for hard work - most entrepreneurs start out working long hours.  Self-confidence – you must demonstrate extreme self-confidence in order to cope with all the risks of operating your own business.  Discipline - resist the temptation to do what is easiest, but have the ability to think through to what is the most essential.  Judgment - the ability to think quickly and make a wise decision.  Ability to accept change - entrepreneurs thrive on changes and their businesses grow.  Make stress work for you - focusing on the end result and not the process of getting there.  Need to achieve – you have a drive toward personal success.  Focus on profits - always have the profit margin in sight and know that your business success is measured by profits. BeginningIntroductionAssign. 1 cont.

Instructions (work in groups of four): Go to and click on “Starting a Business” and “Self-Assessment”. Each of you review two different articles listed (so your group will review a total of eight articles). After reading the articles, answer the following questions individually.  Which traits listed above did the articles you read highlight, if any?  After reading and thinking about the articles, would you add to, revise, or delete from the above list? If so, what would you add, revise or delete? Why?  Do these traits describe you or would you rather do your job, pick up your paycheck and leave the headaches to someone else? Do you think you would be a good entrepreneur? As a group, discuss together what revisions you have made to your trait lists and come up with a “master” trait list for successful entrepreneurs. Discuss your self-assessment with the group and see if they agree whether or not you would be a good entrepreneur. BeginningAssignment 1Assignment 2

Individually review the article, “Is Entrepreneurship for You?” found at: Individually and as a group, you will be preparing a business plan for a small business. As a group decide what type of business you would like to run, and answer the following questions: 1. What service or product does your business provide and what needs does it fill? 2. Who are the potential customers for your product or service and why will they purchase it from you? 3. How will you reach your potential customers? 4. Where will you get the financial resources to start your business. BeginningThe ProcessAssign. 1 cont.

After you have decided on your business and answered the previous questions, you will prepare a business plan. Each member of the group will be responsible for preparing and presenting one part of the plan. Click on your part below to get started! Finances Marketing Management Assignment 2EvaluationBeginning Description of Business

Your section of the business plan should include information about the nature of your business as well as list the primary factors that you believe will make your business a success. It should also describe your service or product. Click below to start! The Process Tasks to Complete Beginning

Keep in mind that lack of planning and poor location are a couple of reasons for the failure of a small business. Review the following: p_compdesc.html p_servprod.html Review at least 3 business plans from: Write your part of the business plan and be prepared to present it to the class. Description of Business

Your section of the business plan should include information about industry description and outlook, target market information, market test results, lead times, an evaluation of your competition, and your overall market strategy. Click below to start! The Process Tasks to Complete Beginning

Keep in mind that competition, low sales, and unexpected growth are some reasons for the failure of a small business. Review the following: p_markanal.html p_marksale.html Review at least 3 business plans from: Write your part of the business plan and be prepared to present it to the class. Marketing

Your section of the business plan should include your current funding requirement, your future funding requirements over the next five years, how you will use the funds you receive, and any long-range financial strategies that you are planning that would have any type of impact on your funding. You should also included financial statements. Click below to start! The Process Tasks to Complete Beginning

Keep in mind that Insufficient capital, over-investment in fixed assets, poor credit arrangements, and personal use of business funds are some reasons for the failure of a small business. Review the following: p_fundreq.html p_financials.html Review at least 3 business plans from: Write your part of the business plan and be prepared to present it to the class. Finances

Your section of the business plan should include a concise overview of the entire plan along with a history of your company. This section tells your reader where your company is and where you want to take it. You should also include organizational structure, details about the ownership of your company, profiles of your management team, and the qualifications of your board of directors. Click below to start! The Process Tasks to Complete Beginning

Keep in mind that lack of experience and poor inventory management are some reasons for the failure of a small business. Review the following: _BP_ORGNMAN.html p_execsum.html Review at least 3 business plans from: Write your part of the business plan and be prepared to present it to the class. Management

You will receive points for individual and group work (please see grading criteria). Be aware that the input from each member will reflect on the points given for the group work. Be sure and do your part! The ProcessGrading CriteriaBeginning

Answers to initial questions on successful traits of an entrepreneur are thoughtful, in depth, and more than just a one sentence response. 15 points Master list of traits of the entrepreneur complied by your group is comprehensive and complete. 15 points Group Cohesion – you worked well together, supported each other, and gave useful feedback to other members of your group. 20 points Completion of your individual part of the business plan was on time, in depth, with quality information and analysis. 25 points Group presentation of your business plan went smoothly and was interesting and insightful. 25 points Total Points Possible:= 100 points EvaluationConclusion Beginning

Remember that you are trying to discover: 1.What are the key characteristics of successful entrepreneurs? 2.Why does a business succeed? What are your answers to these questions? Did you discover if you are an entrepreneur? BeginningGrading Criteria