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Business club vocab

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1. Business Club 2013 2. Lemonade StandA business is like a lemonade stand. 3. Lemonade StandWhat experiences do you have with a 4. ProductThe item you are selling [the…
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  • 1. Business Club 2013
  • 2. Lemonade StandA business is like a lemonade stand.
  • 3. Lemonade StandWhat experiences do you have with a
  • 4. ProductThe item you are selling [the lemonade].
  • 5. Budget How much money youhave/are planning to spend to buy the materials
  • 6. Supply How much of something[lemonade materials] that is available.
  • 7. Demand How much of something [lemonade] people want.THINK: Would people want ice cold lemonade in the winter?
  • 8. Sales Pitch What am I going to say toconvince people to buy the lemonade?
  • 9. SHARK TANK Clips• Young Entrepreneurs - http://www.youtube.com/watch?v=qFShW- qxPM4• Smart Wheel - http://www.youtube.com/watch?v=08mCf9 G9xBU• Ellen - http://www.youtube.com/watch?v=rSvMbK 0x6cA
  • 10. MarketingHow I’m going to sell the product [lemonade]. Make signs? Make a chant/song?
  • 11. Competition Are there other kids in the area selling lemonade? Is there a storethat sells lemonade nearby? Is their lemonade better than yours?
  • 12. Start Up CostsWhat do we need to buy in order to prepare for the lemonade stand?
  • 13. Business is everything from what your parents do to earn money, what the stores are doing where you buy thingsand what all people do to earn money to live on. Business is about people earning money to have; the things theyneed (food, house, car, clothes, education), the things they want (toys, electronics, sporting goods, books) or to do the things they want to do (entertainment, travel, etc.). Business is what people do after they finish going toschool. School helps you to prepare yourself with many of the basic skills you will need for business. Business includes terms likeworking, career, job, profession, occupation, stores, factories, restaurants, and almost everything you are involved in outside of your family and school.
  • 14. Product Marketin Demand g SalesStart Up costs Pitch Competition Supply Budget
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