What was the name of the girl from yesterday?
What country is she from?
Complete this word ( B _ A N D I N _ )
What is motivation?
Motivation is an external or internal stimulus which results in improved or refocused determination to complete a goal or task.
Some examples of motivation include:
– Listening to music.
– Hiking in nature.
– Completing a workout session.
– Getting advice from those who care for you.
– Practicing meditation and destressing your mind.
– Comparing to a similar experience (ex. If you were cut by your basketball team, feel reassured you can still be successful since Michael Jordan was cut from his high school team).
Are all entrepreneurs successful with their first business?
No, all entrepreneurs must accept the possibility of failure.
Entrepreneurship is similar to any activity such as playing sports.
Let’s say you want to be a professional baseball player.
Do you think tomorrow you will be signed by a major league team? No!
You will spend years practicing your baseball skills and playing amateur games before you are even considered by a team.
In entrepreneurship, you may spend years practicing your entrepreneurial skills and creating businesses before you find success. That is why it helps to start building businesses as a kid since you will gain years of experience.
Do not be discouraged by your failures. Analyze what went wrong in your business and what should be improved.
Your experiences will over time make you into a master of entrepreneurship.
What are some examples of motivation?
Why should you not be discouraged by your business failures?
On the next slide, you will be developing the motivation you will use as an entrepreneur.
For example, Dwight wants to use the motivation below.
- Subscribe to an entrepreneurship podcast.
- Watch a motivational YouTube video every day.
Business Name: Launch Group
- How much profit do you want to make each time you sell your product or service?
$75 (desired profit per product or service)
- How much profit would you like to make from your business each year?
$75,000 (desired yearly profit)
- How many products or services do you need to sell each year to make your yearly profit?
(desired yearly profit) / (desired profit per product or service) = 1,000 (# sold per year)
- How many products or services do you need to sell each month to make your yearly profit?
(# sold per year) / 12 (months in a year) = 83.3 (# sold per month)
- How many products or services do you need to sell each week to make your yearly profit?
(# sold per year) / 52 (weeks in a year)= 20.75 (# sold per week)
- $200.00 for 2 / 1 hr mentoring sessions a month.
- $350.00 for 4 / 1 hr mentoring sessions a month
- $400.00 for 6 / 1 hr mentoring sessions a month.
- Receive $100.00 if you refer a friend and they sign up.
- 13 inch MacBook Pro – $1,299.00
- iPhone 14 Pro – $999.00
- T-Mobile Magenta Plan – $70.00/month
- Nissan Leaf Lease – $425.00/month
- Car Insurance – $99.00/month
- Electric Charging – $40.00/month
- Office Supplies (ex. notebook) – $15.00/month
- Business Cards – $9.99
- Social Media Advertising – $100.00/month
- Direct messaging and paid advertisements on social media platforms.
- Attend Meetup entrepreneurship events and hand out business cards.
- Age: Young Adults, Adults
- Location: Orange County, California
- Interests: Entrepreneurship; Technology; Innovation; Stock Market
- Lifestyle: Ambitious individuals who have a busy schedule which revolves around activities/tasks for their business. They take limited vacation time and frequently attend networking events.
Product / Service: Service
Values: In-Person, Flexibility
Description: My business idea is to provide mentoring to startups.
Please have your child write down all their answers on paper.
The purpose of this builder is to be a guide to their idea.
Present your brand to the class.
Write down questions to ask your classmates.
Remember to be respectful during each pitch.
Entrepreneurs can be motivated by listening to their favorite music. (True or False)
Business failures are learning experiences that will teach you how to become a successful entrepreneur.
A great way to get motivated is to read about how famous entrepreneurs overcame challenges.
Day 12 Homework
(Complete your homework assignment on paper)
Write about a time you were motivated to complete a goal or task.
What was the motivation?
What was the outcome?