What is Junior Achievement?

1. What is Junior Achievement? A nonprofit dedicated to teaching students about: • managing money • working at a job • owning a business

2. About Me • Name • Place of work • Family • Hobbies

3. JA Our Region In this program you will learn about: • The resources that regions contain • How entrepreneurs can use these resources to make and sell the goods and services people need

4. JA Our Region Today you will learn about: • The impact entrepreneurs have on a community or a region • Common traits of successful entrepreneurs

5. JA Our Region Lesson One Am I an Entrepreneur?

6. ENTREPRENEUR What is an entrepreneur? A person who uses resources to start a business.

7. Key Terms What is innovation? A new device or a new way of doing something What is invention? To make or think of something that did not exist before?

8. Key Terms What is a region? A geographic area united by similar characteristics

9. Discussion Can you name any innovative local entrepreneurs in your region or community? Can you name any famous entrepreneurs?

10. Activity • There are four Challenge Posters around the room that list a few business categories: • Food • Sports • Technology • Manufacturing • I will name an entrepreneur that has made an impact in one of these areas. • Make your best guess as to which poster matches the type of business the entrepreneur started. • Go and stand next to this poster.

11. Discussion What makes someone an entrepreneur? If you were to interview a successful entrepreneur, what questions would you ask him or her? What mistakes might a young entrepreneur make when creating a new business?

12. Activity – Traits of an Entrepreneur Define trait. Having a special quality or characteristic.

14. Activity – Traits of an Entrepreneur • You will receive a My Traits Inventory Card. • Write your name at the top. • I will explain the meaning of “inventory.” • Read each trait and circle whether you have that trait or if you hope to work to acquire it. • Explain in two sentences why positive traits are important to being a successful entrepreneur.

15. Activity Discussion Name three traits that help an entrepreneur be successful. What new businesses do you think could be created in our community that do not already exist? Are customers eager for entrepreneurs to create these new businesses?

16. Entrepreneur Eraselet Entrepreneurs learn as they go, overcoming their mistakes to reach success. You will receive an Entrepreneur Eraselet to remind you to erase your mistakes as you improve your business.

17. Next time… We will learn how entrepreneurs use resources in their region and community to create businesses.

18. Next Time… You will become an entrepreneur and open new businesses needed in your neighborhoods.

19. Regional Resources: Tools for Entrepreneurs Lesson Two

20. Review What is an entrepreneur? A person who uses resources to start a business.

22. Discussion Have you ever taken a vacation or visited relatives in another state? Do you think it is hard or easy to discover everything we need to know about our country?

23. REGION What is a region? A geographic area united by similar characteristics. Dividing the United States into regions makes it easier to examine.

24. RESOURCE What is a resource? Something that is used to produce a good or service.

25. Activity Part 1 • Organize into six groups • Each group will receive a Resource Card. These are building blocks you will need to create your business. • Discussion: How are states different from one another?

26. TYPES OF RESOURCES Capital Resources: Buildings, tools, and machines businesses use to make and sell goods and services Human Resources: People who do the work that a business needs to make and sell goods and services Natural Resources: Things that occur naturally, such as air, water, minerals, and trees, that a business needs to make and sell goods and services

27. KEY TERMS Goods Items that are bought or sold What is a local example? Service Work done for others, such as haircuts or car repairs What is a local example?

28. Activity Part 2 • In your group, review the resources you have been given in your region. • Brainstorm possible businesses you could start that use these resources. Record in Box 1 on your Our Region Flier. • Brainstorm names for your new business. Box 2. • How will you get the word out for your business? Advertising is important to the success of a business. Box 3. • Does your business provide a good or a service? Record next to your company’s name.

29. Review Where do entrepreneurs start businesses? What is a region?

30. Postcard with Magnets This postcard has a note on it to share with your family. The magnet can be removed and the postcard can be used as a picture frame on a refrigerator.

31. Next time… You will learn the fundamental tasks performed by a business owner.

32. Hot Dog Stand Game Lesson Three

33. JA Our Region Today you will learn about: • The tasks required to run a business • The importance of keeping a business’s financial information

34. Entrepreneur Poster

35. Review Entrepreneurs use resources to provide goods and services in a region. Anybody can strengthen his or her entrepreneurial traits.

36. Discussion • How important is it for a business to make money? • What does a business do with the money it makes? • What other traits besides people skills do entrepreneurs need?

37. Tasks Entrepreneurs need to accomplish six basic tasks to have the best chance of success! Task 1: Pay for the resources you need for your business. These are your expenses. Task 2: Get the word out about your product through advertising. Task 3: Set your price and sell your product. The money you get from your sales is your revenue. Task 4: Treat your customers well. Task 5: Make tough business decisions as they arise. Task 6: Carefully track your expenses and revenue so that you will know if you make a profit or have a loss.

38. Key Terms Advertising: Persuading customers to buy a good or service Customer: A person who buys something Expense: Money spent to buy resources Loss: When a business pays more in expenses than it makes in sales Revenue: Money earned from sales

39. Activity – Hot Dog Stand Game You will now have the opportunity to play a game in which you will start a hot dog business and practice the six tasks.

40. Activity – Hot Dog Stand Game • Form groups of 3-4 players. • Each group needs a game board and a die; each player need a game piece and a Hot Dog Stand Money Tracker. • Place all game pieces on the START arrow. • Roll the die to see who goes first – the lowest number starts. Play continues clockwise. • Each player rolls the die only once per task. • After all players have completed a task, play starts over. • Two or more players can occupy the same space at the same time. • Record expenses on the Hot Dog Stand Money Tracker sheet. • Once play is complete for tasks 1-5, finish the math on your sheet to see if you made a profit.

41. Review • What are the resources (natural, capital, human) needed to start a hot dog stand? • What are a few ways you could increase the profits? • What risks could cause your business to lose money? How could you manage these? • What other goods or services could you offer your customers?

42. Next time… You will learn about making wise business decisions to solve problems.

43. Entrepreneurs Are Problem Solvers! Lesson Four

44. Today you will learn… • How to apply the business problem-solving process • About the risks and rewards of making business decisions

45. Discussion • Examples of problems • If a business has no power to correct a problem, what steps can it take to deal with it?

46. Problem-Solver Bookmark • Write your name on your bookmark. • The front lists the 5 problem-solving steps. • The back has spaces for you to practice.

47. Key Terms Reward What can be gained in making a business decision Risk The chance of loss or failure when making a business decision

48. Problem-Solving Example Hot Dog Stand Game Step 1: Clearly describe the problem. Step 2: Brainstorm a list of possible solutions. Step 3: Make a list of the risks and rewards for each solution. Step 4: Weigh each decision to see which one has the most rewards and the least risks. Step 5: Make a decision that has the most rewards and the least risks.

49. Activity – Problem-Solver Catcher Folding Instructions: • Separate the instructions from the sheet. Place the sheet face down. • Bring the bottom corner to the upper right to form a triangle. Crease. • Unfold the paper. • Bring the other two corners together to form a triangle. Crease. • Unfold the paper. • Fold all four corners to meet at the center. • Flip the square over. Fold each corner to the center • Fold the new square in half. Unfold he square and fold it in half the other way. • Slip fingers into the pockets. Open and close the Catcher.

50. Activity – Problem-Solver Catcher Each of you has successfully opened a lemonade and smoothie stand at a local park. Look at the outside corners of your Problem-Solver Catcher. What is the name of your business? Are you open or closed for business? What goods do you sell and what are their prices? What problem does your business face?