Module 7 Are You an Entrepreneur?

This lesson plan can be used as a companion to Module 7 of Money and Youth – Are You an Entrepreneur?

Relevant Subjects and Topics:

Entrepreneurship, Business Studies, Careers, Family Studies

Background Information:

As adolescents prepare to enter adulthood they are faced with many decisions that will affect the remainder of their lives. One obvious issue is the daunting decision of career choice. With the rapidity of change facing them, they may very well experience a number of different job situations over the course of their working lives, but initially they have choices to make. In order to make wise decisions they should “get to know themselves” but understanding such things as their desired life style and their degree of tolerance for such things as change, independence and risk to name only a few. This lesson will direct their attention to entrepreneurship in order to have them reflect upon this option to see if it is suitable for them. In this way, the students will come to “know themselves a little better” and will be better able to understand if this type of career is for them.

Outcomes:

At the end of this lesson, students will be able to:

• Explain what is involved in being an entrepreneur
• Indicate whether or not this career choice is of interest to them
• Better identify their personal career choice preferences

Time for Implementation:

Two class periods of approximately 60 minutes

Teaching and Learning Strategies:

Period One: 60 minutes 

• Begin this lesson by asking the students to define the term “entrepreneur.”
• Once they have provided their definition, conduct a teacher-led quiz using the quiz on page 81 of Money and Youth.
• Take up the answers to the quiz found on page 82.
• Divide the class into four groups and either project the image of the skeleton found under “Handouts/Resources” below or provide each group with a copy of the slide.
• Ask them to complete the slide in their groups and then hold a plenary session during which they can give their ideas.
• Introduce an activity called “Heads Together” during which they will be in competition with the other groups and have to address a series of questions.
• Explain how the game will work:
  1. A question will be asked and then a call of “Heads together” will be made.
  2. The group will literally move closely together, putting their heads in so they can discuss their answer quietly.
  3. The call “Heads apart” will be made, the students will return to normal posture and then one group will be asked to provide an answer.
  4. If another group can improve upon the answer with one additional piece of relevant information then they will take the lead in being awarded the points for that question.
  5. If another group can provide additional information then they will take the lead.
  6. Once no additional information can be added the group will be awarded the points.
  7. This process will be repeated for each question and the winning group will be the one with the most points.
• Begin the activity by asking the groups to address the following question:
• What things should an entrepreneur do to search for opportunities?
• Allow a predetermined amount of time for the groups to address the question and then call “Heads Apart” and begin the game.

Period 2: 60 minutes

• Review the previous period’s work and ask the following question and begin the game again:
• How does an entrepreneur assess the opportunities she or he has discovered?
• Once this question has been answered, continue the game by asking:
• Once an entrepreneur has decided on an opportunity, what should be done to generate good ideas about that opportunity?
• What ways would an entrepreneur pursue to ensure that the ideas generated are good ideas?
• Having completed the questions and identified a winning group, and, as a concluding activity, assign one of the questions used in Heads Together to each group.
• Ask them to check the appropriate pages of Module 7 in Money and Youth and compare their answers to the material in the book and report any additional information to the class.

Handouts/Resources:

• Skeleton handout

Evaluation:

• The group results could be recorded.

Modifications or Suggestions for Different Learners:

• Throughout the group activities there are opportunities for different skills to be utilized - such as recording, reporting and presenting.

Additional Related Links:

• Why being an Entrepreneur is not for everyone - https://goodmenproject.com/business-ethics-2/why-being-an-entreprenuer-is-not-for-everyone-and-why-that-is-perfectly-okay-h2l/
• 6 Signs you’re not cut out to be an entrepreneur - https://www.entrepreneur.com/article/249675
• 101 Reasons Being an Entrepreneur Rocks - https://www.businessnewsdaily.com/6418-101-reasons-being-an-entrepreneur-rocks.html

Additional Possible Activities:

• The students could write a short piece indicating whether or not they thought they were an entrepreneur giving reasons for their response.
• The students could research who in Canada was considered to be a top-notch entrepreneur and why.

Why is this important?

As your teenager plans his or her choice of career, it is important for them to consider their personal interests and preferred lifestyle. These preferences will definitely affect the type of employment that will make them happy. Do they want to be employed by a large corporation with all of its benefits and drawbacks and report for work each day? Do they want a “cottage industry” job which will allow them to work off-site? Do they want to be self-employed and rely on their own drive, talents and initiative to be successful? These are simply a few of the choices they will have to make in selecting a career. This module obviously focuses on the uniqueness of being an entrepreneur and can help your child decide if this type of career is for them.

Ways to engage your child and fun things to do.

Being an entrepreneur has both benefits and drawbacks. It certainly puts more income responsibility on the individual and for that reason brings a greater element of risk with it. However, being an entrepreneur gives, among other things, a freedom and sense of personal accomplishment that corporate employment does not offer. It takes a certain type of personality to be an entrepreneur, so it is important to recognize the needed characteristics.

1. A good way to determine if your child has the personality to be an entrepreneur is to complete the skeleton chart found below. Simply pick a skeleton part and identify the skills an entrepreneur would have associated with that part. For example, backbone – having the confidence to believe in one’s self and take action.
2. Together with your child, watch the vignettes on entrepreneurs found on The Canadian Foundation for Education (CFEE) website found here: http://cfeespiritofadventure.com/entrepreneurs

Additional Background and Related Websites and Resources

• 5 Reasons Why People Become Entrepreneurs https://www.purplecowagency.com/5-reasons-why-people-become-entrepreneurs
• 60 Reasons Why Entrepreneurship is Amazing - https://www.entrepreneur.com/article/243389
• Merits and Demerits of Being an Entrepreneur - https://www.youtube.com/watch?v=t-BTRARKukk
• 20 Things You Should Know Before Becoming An Entrepreneur - https://seedcamp.com/resources/20-things-you-should-know-before-becoming-an-entrepreneur/