Unit 2 - Pupil Booklet Part 1

KNOX ACADEMY
STANDARD GRADE
BUSINESS
MANAGEMENT
UNIT 2
STARTING YOUR
OWN BUSINESS
PUPIL BOOKLET Part

1
Name ………………………………………………………………………
Unit 2 Task Checklist
Date
Copy in
Task Description Compl
Folder?
eted
1 Mind of an Entrepreneur
2 Qualities of an Entrepreneur
3a Important/Not Essential
3b Group Discussion
3c Class Discussion
4 Richard Branson
5 Tom Farmer
HOMEWORK Who Started What?
6 The Flying Suits
7 Business Gateway Poster
8 10 Golden Rules
9 Business Success/Failure
10a PitchTV – Episode 1
10b PitchTV – Episode 2
10c PitchTV – Episode 3
10d PitchTV – Episode 4
11 Enterprise Profile
12a Learn Direct (1)
12b Learn Direct (2)
12c Learn Direct (3)
12d Learn Direct (4)
12e Learn Direct Poster
13a café2U
13b the streat
14 Baguette Express Franchise
15 Questions for a Guest
Speaker
Unit 2: Start Your Own Business

Standard Grade Business Management Knox Academy
2
Mind of an Entrepreneur
TASK 1:
Listen to the Mind of an Entrepreneur and note down some key

words:
What is an Entrepreneur?
An entrepreneur is an individual who develops a
business idea and takes on the associated risks and
responsibilities.
Jeff’s Ingenious Idea is Here to Spray
Jeff Marr was an interested onlooker as fire fighters struggled with flames
on wasteland near his home.
The fire was too far away for the fire fighters to have access to water so
they had to struggle with beaters to put the flames out. Jeff, aged only 17
at the time, thought there had to be a better way.
There was – and he found it. So much that at the age of 19 he is now
Managing Director of a company which makes a portable fire fighting
system which has already received one major international contract from
a UK company.

3
Jeff’s company is called Fire Attack Systems (FAS). He approached
Business Gateway for help and received some financial input from Scottish
Enterprise.
Jeff does his own marketing by attending shows and exhibitions and giving
live fire demonstrations to forestry groups, landowners and fire brigades.
His firm has caught the eye of bigger companies with money to spend, but
Jeff said: “We have had enquires, but I want to run this myself and see
how far I can take it.”
West Lothian Herald & Post (Thursday 17 February 2005)
TASK 2:
An entrepreneur may have a variety of qualities in order to be

successful in business.
What are the key qualities that Jeff had as an entrepreneur?
Qualities
of an
Entreprene
ur

4
TASK 3a:
Separate the words below into things that you think are
important to enterprise or being an entrepreneur and those that
are not.
Obtaining Business
Taking risks
finance understanding
Business
Business
knowledge Being clever
qualification
Having good
Determination Enthusiasm
ideas
Spotting a niche
Energy Drive
market
Having a good
Having lots of
Leadership education
money
Knowing what
Having a totally
limited liability
different idea
is
Important for an Not essential for an

entrepreneur entrepreneur

5
6
TASK 3b:
Compare your decisions with other members of your group. In

pairs look at the results of your partner’s sheet.
1 What differences are there?
2 Explain why you decided to put the words/phrases in the

box you did and listen to your partner’s explanation.
3 Can you arrive at an agreement about where the

words/phrases should be placed?
TASK 3c:
Compare your decisions with the rest of the class and come to a
class agreement.
Some More Entrepreneurs

7
Homework TASK:
Complete the worksheet: Who Started What?
Why Start a Business?

You might start off with very big ideas about what the
future holds for your business. It is a fact though that
only 50% of new businesses starting up survive after 3
years. Clearly there is a big risk involved.
Given the risk, why would people want to start up a business in the first
place?

8
Being Your Own Boss Has Problems!
The big advantage of starting your own
business is that you get to order everyone
else around – and decide what to do with all
the profits. But there are problems:
1 The business may take time to produce a

profit – the ____________________ may be
__________ and __________ from week to week.
2 There is no-one else to ______________________________ if anything goes

wrong – the owner must be
prepared to take
____________________.
3 Owners of new firms generally

work very ____________________ –
for example, completing the
firm’s accounts in the evening.
4 As the business grows the owner needs to learn to __________

responsibility to ____________________ – not easy if the owner has built
the firm up single-handed.

9
The Big Idea
www.virgin.com/entrepreneur
So, you're onto a winner?

We’re always looking for the next BIG thing. Especially if it builds on our
exciting businesses or creates brand new ones. All our Virgin companies
live and breathe our core brand values and all new proposals or ideas
need to reflect these values.
They are:
• Championing the consumer

• Offering value for money
• Delivering a quality product / experience
• Driving innovation
• Competitively challenging
• And of course, having FUN!
We’ve now been around for some 30 years or so. Over the years the Virgin
companies that we’ve found to be most successful for us are ones that:
• are marketing, sales and customer service focused

• use the Virgin brand
• have a well defined and different customer offer
• often delivered in partnership with experts in their field
So if you think you’ve an idea that fits the bill and has the potential to
become a major global business, we are open to your ideas.
TASK 7:
You have been asked by Business Gateway (a Government agency) to

design a promotional poster to encourage young people like yourself
to setup in business.
Your poster should advertise the benefits of starting up a new business. It

should be bright, lively and informative.
You may make use of any software package to produce your design.

10
Peter Jones - 10 Golden Rules
TASK 8:
What are 10 Golden Rules for business success according to Peter

Jones?
10

11
Risk in Setting up a Business
Some of the risks associated with starting a business

include:
• __________________________________________________
• __________________________________________________
• __________________________________________________
• __________________________________________________
TASK 9:
Business Success and Business Failure
What helps to make a business a success?
Access the following website, complete the task and printout for
your notes.
www.tinyurl.com/whatisenterprise
Pitch TV Episodes
As part of its 25th Anniversary celebrations, Virgin Atlantic has

launched a new show, PitchTV, which is airing onboard. They are
inviting entrepreneurs who are in search of investment and exposure
for their business ideas to upload short video pitches.
The website community vote for their favourite video pitches and each
month, the winning videos will feature as part of Virgin Atlantic's
PitchTV show which will air on their in-flight entertainment system -
gaining exposure to the hundreds of business professionals who regularly
fly Virgin Atlantic. Anyone interested in hearing more about the most
popular entrepreneurs' business ideas will then be able to get in contact
and maybe help take their ideas further.

12
TASK 10a:
Episode 1 – June 2009

Notes
TASK 10b:
Episode 2 – July 2009

Notes
TASK10c:
Episode 3 – August 2009

Notes
TASK 10d:
Episode 4 – September 2009

Notes

13
Do you have Enterprising Qualities?
In order to run a successful business it is important to know what your
personal strengths and weaknesses are.
• How ____________________ are you?

• Are you ____________________ in your thoughts?
• Do you have the ____________________ required to succeed?
• Are you ____________________ and learn from experience?
• Are you __________-averse?
• Can you make decisive ____________________?
• Are you a born ____________________?
• How ____________________ are you?
TASK 11:
Complete your enterprise profile (your teacher will provide you

with the required worksheet).
What are your top 3 enterprising qualities?

14
Developing Further Skills
You might feel that although you have an entrepreneurial nature that you
don’t have all the skills that you require in order to set up a business.
You might want to start a business in an area that you have never had
experience in before.
This might mean that you require further training before you start.
Learn Direct Scotland is an organisation that wants you to get more out of
life. They believe that learning something new can help you build your
confidence, improve your job prospects and boost your career.
You might want to work in catering but

have no hygiene certificate, or be a
mechanic but have no formal training.
TASK 12a:
Access the Learn Direct website at www.learndirectscotland.com and

in the menu chose “Who are we?”
Fill in the blanks below
The Scottish Government would like everyone to be able to carry on

learning right ______________________________ - whether it's to get a
__________, improve existing __________ or just to find out about
something because it's ____________________. At Learn Direct Scotland
we help to do this by showing people, like you, __________, __________
and __________ you can learn in the way ______________________________.
We encourage people from ______________________________ or those

who, for whatever reason, have lost their confidence in __________ to
find a way back into learning. We can help you develop your
knowledge and abilities or extend your ____________________ skills.

15
TASK 12b:

in the menu choose “Why learn?”
Fill in the blanks below
Every day, people in ____________________ are changing their lives through

learning.
Learning something new can help you to
• ______________________________
• ______________________________
• ______________________________
It can be a way to gain new confidence and discover __________ you never
knew you had. It can be a way to ______________________________ and have
a bit of fun. If you feel you're in __________ it could help you escape.
Even if you didn't like learning when you were at school, we can help you
find a way to ____________________.
We help ____________________ of people to learn

______________________________. It doesn’t matter whether or not you’ve got
children. It doesn’t matter if you’ve worked for __________, or just
____________________. Young, old, male, female, working, not working…
we’ve helped them all. Let us help you too.
TASK 12c:

in the menu chose “Why learn?”
Read the case studies at the bottom of this section.

16
TASK 12d:

in the menu chose “Where to learn?”
Where does Learn Direct Scotland suggest you can learn a new
skill?
TASK 12e:
As part of a new promotional campaign, Learn Direct has commissioned

you to produce a poster/leaflet to advertise their services.
Your poster/leaflet should advertise the services provided by Learn

Direct and the benefits of additional training to your future success.
You may make use of any software package to produce your design.

17
18
Ownership Structure
In Unit 1 you will have learned about the 4 main types of
business ownership.
Fill in the table below to refresh your memory.
Type of Ownership Short Description
Franchises
A ____________________ may grant a __________ allowing a
____________________ to sell and market its products or services in a fixed
____________________ area.
Examples of franchise companies (can you work them all out?):

19
For more information on franchises visit www.whichfranchise.com
TASK 13a:
A franchise opportunity available in the mobile coffee market.
Watch the video clip and jot down some notes below:
TASK 13b:
A franchise opportunity with the aim to deliver consistently great

food and coffee, with award winning service in contemporary
surroundings.
Watch the video clip and jot down some notes below:

20
TASK 14:
In groups you are going to investigate the benefits of
opening a Baguette Express franchise.
You should prepare a presentation on A3 paper to

demonstrate your findings.
Some areas you might like to cover include (these

are not exhaustive):
• What is “Baguette Express”?

• What are their aims?
• What would you want to invest in a Baguette Express franchise?
• Do they offer potential franchisees any support?
• Can I set up a franchise in any area I choose?
• What investment do I need to make?
TASK 15:
Imagine that you have the chance to speak with a
franchisor or a franchisee what questions would you
ask them?
This could be about setting up a franchise business

(as either the franchisor or franchisee). Alternatively it
could be on the topic of starting a new business and
the risks and rewards involved.
Discuss in pairs and write your questions below:

21

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KNOX ACADEMY

PUPIL BOOKLET Part

Unit 2: Start Your Own Business

Listen to the Mind of an Entrepreneur and note down some key

Jeff’s Ingenious Idea is Here to Spray

on wasteland near his home.

at the time, thought there had to be a better way.

Managing Director of a company which makes a portable fire fighting

Unit 2: Start Your Own Business

live fire demonstrations to forestry groups, landowners and fire brigades.

how far I can take it.”

West Lothian Herald & Post (Thursday 17 February 2005)

An entrepreneur may have a variety of qualities in order to be

What are the key qualities that Jeff had as an entrepreneur?

Unit 2: Start Your Own Business

Important for an Not essential for an

Unit 2: Start Your Own Business

Compare your decisions with other members of your group. In

1 What differences are there?

2 Explain why you decided to put the words/phrases in the

3 Can you arrive at an agreement about where the

Some More Entrepreneurs

Unit 2: Start Your Own Business

Complete the worksheet: Who Started What?

Why Start a Business?

Unit 2: Start Your Own Business

1 The business may take time to produce a

2 There is no-one else to ______________________________ if anything goes

3 Owners of new firms generally

4 As the business grows the owner needs to learn to __________

Unit 2: Start Your Own Business

So, you're onto a winner?

• Championing the consumer

• are marketing, sales and customer service focused

You have been asked by Business Gateway (a Government agency) to

Your poster should advertise the benefits of starting up a new business. It

Unit 2: Start Your Own Business

What are 10 Golden Rules for business success according to Peter

Unit 2: Start Your Own Business

Some of the risks associated with starting a business

What helps to make a business a success?

As part of its 25th Anniversary celebrations, Virgin Atlantic has

Unit 2: Start Your Own Business

Episode 1 – June 2009

Episode 2 – July 2009

Episode 3 – August 2009

Episode 4 – September 2009

Unit 2: Start Your Own Business

• How ____________________ are you?

Complete your enterprise profile (your teacher will provide you

What are your top 3 enterprising qualities?

Unit 2: Start Your Own Business

You might want to work in catering but

Access the Learn Direct website at www.learndirectscotland.com and

Fill in the blanks below

The Scottish Government would like everyone to be able to carry on

We encourage people from ______________________________ or those

Unit 2: Start Your Own Business

Access the Learn Direct website at www.learndirectscotland.com and

Fill in the blanks below

Every day, people in ____________________ are changing their lives through

Learning something new can help you to

We help ____________________ of people to learn