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Name_____________________________________________________________ Period__________ Day______

Unit 3 – Choosing Your Business

Objectives:

Know the factors you should consider when choosing a business Identify a business that aligns with your values, interests, knowledge and skills. Identify the purpose and major elements of a business plan. Identify the potential products and/or services offered by a specific industy and the types of tasks

people do in that industry Classify a business by type of ownership, product type and NAICS code. Identify your potential customer as businesses, individuals and/or families. Use marketing principles to select a business name and create a tagline. Use design principles to create a logo, business card and letterhead.

Vocabulary:

capital

business plan

industry

trademark

NAICS

logo

tagline

slogan

business card

letterhead

design proximity

white space

design alignment

design repetition

design contrast

primary colors

secondary colors

tertiary colors

warm colors

cold colors

complementary colors

analogous colors

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A. Factors to Consider When Choosing a Business

1. Your Interests

A. What do I ________________ to do?

B. What are the talents I _________________________?

2. Your Abilities

A. Choose a business which ___________________________ the talents you already possess.

3. Startup Money and Resources (also known as ____________________________)

A. You have only _____________________?

B. What resources are available at my ___________________?

C. What resources will I need to ____________________?

4. Profit Potential

A. Will consumers ______________ what you are selling?

B. Can you _____________________ enough to make it worth your while?

5. Pleasure

A. Choose something you will __________________________ doing.

6. Availability

B. How much ___________ do you have to invest in the business?

B. Describing Your Industry

1. Description of the Industry

a. What is the ____________________________ of the business?

b. Use the Occupational Outlook Handbook (OOH) – What They Do

2. Products and/or Services Provided

a. What types of things do companies in this industry _______________________?

b. Do some research. Try the OOH, websites, phones books or call businesses.

3. Nature of the Work

a. How are the products/services ___________________________________?

b. Use the Occupational Outlook Handbook (OOH) – Duties

Assignment: Prepare an Industry Background – Teen Entrepreneur Project 4 page 51

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C. The Business Plan

1. What is a Business Plan?

A business plan is a _________________ of ________________________ that serves as a blueprint for building a business. A business plan includes information about:

A. the ___________________________

B. the _______________________ in which the business competes

C. the _______________________ and/or _________________________ offered by the business

D. the expected ___________________________ of the business

E. the ___________________________ of the business

F. the _______________________ of the business

2. What Does a Business Plan Tell You?

A. ____________________ of the Business

_________________ __________________ ____________________

B. The _____________________ of the Business – what are the future goals of the business

C. The _________________ to achieve the vision

3. Why Create a Business Plan?

4. What Makes a Good Business Plan

1 2 3 4 5

To attract

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D. The Company Description

1. Purpose

A. Provides a brief _______________________________ of the business

B. Establishes a _____________________________ for the reader

2. Company Name

A. DO

1. convey __________________ of business and its products

2. be easy to ______________________ and ______________________________

3. __________________________________ to allow for growth

4. have ________ words or less.

B. DON’T

1. ___________________ words

2. have a name _________________ to another business

3. _________________ others

4. be too ________________ or general

5. begin with __________________

C. Process

1. Check potential business names with the _________________________________________________

2. Make a list of your top _______ potential names.

3. Survey at least ________ people with a ____________________ of backgrounds.

4. Select the name with the most votes.

3. Major Types of Business Ownership

A. Sole Proprietorship – a business with only _________ owner.

B. Partnership – a business with _______________ or _______________ owners.

C. Corporation – a business that becomes a ______________________ person. Corporations may have only _____________ owner or _____________________ of owners. Owners are known as ________________________________________________.

4. Miscellaneous

A. Use the North American Industry Classification System or _______________ to locate Industry codes.

B. Your business will operate from your ________________ and start in the year _______________.

C. You will have _____ employee (you) and at least ________ advisor (your teacher).

Assignment – Create Your Company Description – Teen Entrepreneur Project 2 page 36

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E. Graphic Design Basics

Proximity –

• Purpose is to organize • Easy to read = Easy to remember • Creates more white space- _____________________________________________________________ • No more than 3-5 visual units on a page

Alignment -

• Purpose is to unify and organize the page • Allows you to create a formal, fun or serious look • Align elements to have some visual connection • AVOID multiple alignments on one page • AVOID a centered alignment when possible

Repetition -

• Purpose is to unify and add visual interest • Be consistent throughout the piece • Find existing repetitions and strengthen them

Contrast -

• Purpose is to create interest and to improve organization • Elements should not create any confusion • Add contrast with:

– Font choices, line thickness, colors, shapes, sizes, space, etc. – If you are going to make something different, make it really different!

Color

• Purpose is to evoke certain emotions • Colors should have meaning to the project

Color Group Colors How to Make / Effect

Primary

Secondary

Tertiary

Complementary

Analogous

Warm

Cool

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Logo and Tagline

1. Logo Rules

A. Project company’s _______________________ (i.e. steady, energetic, serious, fun, young)

B. _____________________ is better

a. Limit the number of _____________________

b. Create ______________________ colors

C. _______________________ - you cannot copy or be similar to another business

D. Easy to __________________________

2. Tagline Rules

A. Convey idea of what you _______________________________

B. _________________________ with logo

C. Easy to _____________________________

D. Short and to the point - No more than _________________ words

Assignment – Create Your Logo and Tagline – Teen Entrepreneur Project 3 page 43

1. Download the Logo and Tagline template from the Shared folder.

2. Design four different logos for your business.

3. Ask at least twenty people of different ages and genders to select their favorite logo. Be sure to keep a tally of your results as you will need to turn it in with the project.

4. Create four different taglines to go along with the winning logo.

5. Ask at least twenty people of different ages and genders to select their favorite tagline. Be sure to keep a tally of your results as you will need to turn it in with the project.

6. Combine your logo and tagline into one graphic.

7. Submit the rubric, your final logo and tagline, the four potential logos and taglines and your tally sheets.

Project Time – Redesign an Ad

1. Open the Redesign and Ad Project PowerPoint.

2. Redesign the advertisement for the company. You must include all the information shown in the

slide in your advertisement.

3. Remember to consider proximity, alignment, repetition, contrast and color.

4. Use the COLOR printer to print your advertisement (Room 357W).

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Business Card and Letterhead

1. Business Card

A. Purpose – to ____________________ one’s identity and desire to ______________________________.

B. Required elements

a. Business ___________________

b. Your _________________ and job __________________ (i.e. owner)

c. Mailing ____________________

d. __________________ number

e. ______________ and _____________________________

C. Optional Elements

a. __________ site and ___________ address

b. Additional graphic ______________________

c. Brief list of _____________________

D. Business Card Rules

a. Do NOT _______________________________

b. Design is __________________________ with other documents

c. No more than ___________ fonts

d. Remember ____________________________ - keep size and placement balanced

2. Letterhead

A. A _________________ that is printed at the top sheet of a letter

B. Required Elements

a Business ___________________

b Mailing ____________________

c __________________ number

d ______________ and _____________________________

C. Letterhead Rules

e Place within top _____ inches of your document

f Design is __________________________ with other documents

g No more than ___________ fonts

h Remember ____________________________ - keep size and placement balanced

Assignment – Create Your Business Card and Letterhead – TE Projects 6 and 7 pages 66 & 72

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Unit 3 Review– Choosing Your Business

Part A: Answer each question.

1. What factors should you consider when you are deciding what type of business to start?

2. What six general areas of information are contained in a business report?

3. Why is it important to ask people which company logo they like best?

4. Why do entrepreneurs create business plans?

5. What are the five characteristics of a good business plan?

6. Why is it important to create several possible business names before deciding on a final option?

7. What are the five principles of design you should address when creating your graphic documents?

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Part B: Circle the letter of the best response.

8. Jamie started a home-based business 10 years ago. The business took off, and Jamie is now opening a fifth store. Jamie’s business is most likely in the ___________ stage of the business life cycle.

a. Decline b. Growth

c. Startup d. Not enough info to answer

9. A business owned by one person is called a: a. Corporation b. Microbusiness

c. Partnership d. Sole Proprietorship

10. Which section of the business plan provides information about the industry in which your business will operate?

a. Company Description b. Industry Background

c. Letterhead d. Trademark

11. The primary colors are: a. Blue, green and yellow b. Red, blue and yellow

c. Red, green and blue d. None of the above

12. Which color scheme is most likely to make you feel energetic and/or excited? a. Analogous b. Complementary

c. Cool d. Primary

e. Secondary f. Warm

13. According to design theory, which alignment should be avoided whenever possible? a. Center b. Justified

c. Left d. Right

14. Which design principle tells us to keep like things together? a. Alignment b. Contrast

c. Proximity d. Repetition

15. Contrast can be achieved by altering all of the following EXCEPT? a. Alignment b. Colors

c. Fonts style and size d. Shapes

Part C: Identify each statement as true or false.

16. _______ To make a logo more interesting you should have at least 3-5 colors.

17. _______ A tagline should have no more than 5 words not including prepositions.

18. _______ One of the purposes of a business card is to let others know you are ready to do business.

19. _______ Letterhead refers to the heading that is printed at the top of a page.

20. _______ When you decide to bold all the headings in a document, you are using the repetition design principle.

21. _______ It’s best to keep your company name less than three words and general so that it allows for growth.

22. _______ A business name, logo and tagline should work together to create a unified image of the business.

Part D: Match each piece of information with the website used to locate the information.

23. _____ Business names that are already in use.

24. _____ The nature of the work in an industry.

25. _____ The official name for an industry.

A. NAICS

B. OOH or O-Net Online

C. US Patent and Trademark Office

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Part E: Complete the crossword puzzle.

1

2 3 4

5 6

7

8

9

10

11

12

13

14 15 16

17

18 19

20 21

22 23 24

25 26

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Across 3. type of employee you hope to attract 7. one quality of a good business plan 9. the area of a design that is blank (2 wrds) 10. the address you should use for your business 11. making things different in a design 14. symbol used to ID a business 15. the blueprint for a business (2 wrds) 17. colors directly across the color wheel 18. an important entrepreneurial consideration for

students 19. business with more than 1 owner 20. maximum number of words in a business name 21. colors associated with a particular business 22. small document containing a name, business

affiliation and contact info (2 wrds) 24. a logo should have __ design elements

25. your idea about how your business will look in the future

27. colors next to one another on the color wheel Down 1. money and resources used in a business 2. slogan 4. officially registered name or symbol 5. part of the business plan that gives a brief

overview of the business (2 wrds) 6. a possible advisor for your business 8. a business plan helps you to set these 12. a business name should be easy to __ 13. one of the items addressed in a business plan 16. a tagline should avoid __ words 23. colors that make you feel calm and steady 26. the number of employees your business will have

when you first open