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Status

Open

Estimated Completion Time

16-18 weeks

Enroll/Extend in Adult Education Entrepreneurship 1b click here

Overview

Entrepreneurship 1b: Make Your Idea a Reality

You have the business idea; now it’s time to go from dream to reality. Throughout this course, you’ll explore different topics representing the major parts of a business plan, such as risk, hiring, pricing, marketing, and more. By completing activities, you’ll create a viable document you can use to help you start your business by the end of the course. Let’s bring your dream to life!

During this course, you will learn career-related skills and earn a badge for this accomplishment. A badge is a digital certification of your career-related learning that you can share on social media and higher education platforms, or with colleges, potential employers, peers, and colleagues. Select this link to learn more about badges.

Major Topics and Concepts

Unit 1: The Business Plan

  1. Distinguish between business ideas and business opportunities
  2. Explain the importance of a business plan
  3. Identify the components of a business plan
  4. Apply the components of a business plan to a new business idea
  5. Assemble and present your business plan to others

Unit 2: The Risks in Business

  1. Determine various reasons why small businesses succeed or fail
  2. Recognize types of internal and external business risks
  3. Identify and assess ways to manage potential business risks
  4. Evaluate avenues for business growth and exit strategies

Unit 3: Growing the Business with People

  1. Assess your employment needs for business growth
  2. Identify a hiring plan and work schedule for prospective employees
  3. Describe how roles are organized within a business
  4. Develop plans for managing and evaluating employees

Unit 4: Marketing the Business

  1. Define and explain key marketing concepts for small businesses
  2. Discuss the components of the marketing mix
  3. Analyze a variety of promotional techniques and strategies
  4. Evaluate categories of advertising and when to use each type

Unit 5: Marketing Your Products

  1. Identify and categorize various classes of products
  2. Explain the concept of a service as a unique type of product
  3. Identify the stages and characteristics of the product life cycle
  4. Describe the key elements of product branding

Unit 6: Pricing, Selling, and Distribution

  1. Identify key terms associated with pricing, selling, and distribution
  2. Describe common pricing approaches and adjustments
  3. Discuss principles of selling and the stages to making the sale
  4. Identify distribution channels and parts of a supply chain

Unit 7: Marketing Research and Planning

  1. Describe the importance of marketing research
  2. Identify how marketing research is used in business
  3. Explain how marketing research leads to better business decisions
  4. Apply the various parts of a marketing plan to your personal business idea

Unit 8: Your Personal Finances

  1. Describe your personal financial goals and the importance of longer-term financial planning
  2. Create and maintain a personal budget
  3. Evaluate investment opportunities for future financial growth
  4. Determine available banking services and bank account options

Credits .5

Competencies

  • Business Plans
    Students will demonstrate an understanding of business plans by explaining the purpose of a business plan, describing strategies for creating business plans, and describing the components of a business plan.
  • Hiring Employees
    Students will demonstrate an understanding of hiring employees by explaining the employment process, describing business organizational structures, and summarizing strategies for managing employees.
  • Business Marketing
    Students will demonstrate an understanding of business marketing by explaining key marketing concepts for small businesses, describing components of the marketing mix, and summarizing the promotional and advertising strategies for reaching customers. 
  • Business Risks
    Students will demonstrate an understanding of business risks by summarizing reasons small businesses fail, explaining types of risks, and describing strategies for managing risks.
  • Marketing Products
    Students will demonstrate an understanding of marketing products by explaining product management, describing the product planning process, and explaining brand creation.
  • Marketing Research
    Students will demonstrate an understanding of marketing research by describing the market research process, explaining the types of market research, and the summarizing steps of a marketing plan.
  • Personal Finances
    Students will demonstrate an understanding of personal finances by explaining the importance of setting financial goals, describing investment opportunities, and summarizing personal banking options.
  • Selling Products
    Students will demonstrate an understanding of selling products by describing pricing considerations, explaining selling strategies, and summarizing distribution channels.

Pre-Requisites

None
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