How to Make it Rain?

 You will get into teams of 4 and create a new business! Keep it simple. The point of this exercise is for you to create an imaginary business that you can understand the management of and then hire a 2 candidates to become part of it. The goal will be to create businesses that cater to the skill set of your peers so that you can better understand the business side of interviewing as well as the side you are likely to start off on- the one seeking employment.  What type of business could you start while still going to school?  What type of business could you start using the skills you have now?

Lemonade standRefreshment stand at local games Child careHot dog stand Yard careDeveloping a web page for others Youth community centerShopping service for seniors Pet sittingDelivery services House cleaning serviceJanitorial services for local businesses Selling used clothesJewelry making Catalog salesComputer service business Add value to an existing product (packaging, new Marketing local crafts design, new customers, different size) Travel servicesMusical group Repair services (shoes, electrical equipment, cars, clothing, etc.)

Assignment

 How can you describe the business...in only one paragraph please?  What is your product, or service?  Who will buy it?  Where should you locate the business?  How can you attract customers?  What is your competition?  How much should you charge for the products or service?  How will you organize the managers and/or workers of the business? How will you split the profits?  Who is responsible for the losses?  What should you consider to be able to produce the product and get it to the customer?  How many customers will you have per month and how much will they buy per month?  How much does it cost to make the product or provide the service?  What are your operating costs? (Include your own salary)  How much money will your business earn each month by selling your product or service?  What is your potential profit per year for Year I, Year II, and Year III?  How will you make the business grow in the future?

Be prepared to pitch your company to the class in order to entice your peers to interview with your company. Grades: *Answering the above questions about your business. (FORMATIVE) *Creating a logo and mission statement for your business (FORMATIVE) *Job descriptions for everyone on the team including the person you are hiring for, including salaries. (FORMATIVE) *Conducting Interviews (Summative) *Interviewing for a job with another company as well (Summative) *Critique of interview process--- BONUSSES GIVEN TO THOSE WHO GET HIRED (10pts)

NameFirst ImpressionsArticulateConfidenceAbility to answer questions correctly Qualifications 5 – Excellent4 – Good3 – Average2 – Needs Work 1 – Poor