The Skills Required to Become a Successful Entrepreneur

Lesson Content

• Lesson Plan Template:

  CTE Lesson Plan

• CTE Course Info and Benchmark Notes

  
  

  Course Title:

  Introduction to Marketing Sales and Service

  Course Number:

  9309350

  Career Cluster:

  Marketing, Sales, and Service

  CIP Number:

  149309350M

  Course Type:

  EXPL- Middle School Programs

  CTE Standard(s) or benchmarks

  CTE-MKT.68.9309350.3.5

  Identify skills required to successfully enter any career in the Management and Entrepreneurship career pathway.

• Unit Outline

  
  

  This lesson is designed to be used with the case study, “Janet’s Real Estate Success.” See CPALMS resource ID#215774.

• Career Connection

  
  

  This lesson practices the career building skills of analyzing, researching, and sharing ideas. Students utilize their knowledge of the qualities of successful entrepreneurs and small business owners to determine best practices to reduce financial losses, gain clients/customers, and ensure client/customer satisfaction.

• Learning Objectives

  
  

  Students will be able to:

  • Identify the qualities of a success entrepreneur or small business owner that some entrepreneurs struggle with.
  • Research and report on a real-world example of an entrepreneur or small business owner applying their knowledge of the qualities of a successful entrepreneur or small business owner as part of a group.
  • Identify changes entrepreneurs can make to be successful.

• Prior Knowledge

  
  

  Students should be familiar with/able to:

  • Definition of entrepreneurship.
  • Risks and rewards of being an entrepreneur or small business owner.
  • Qualities of successful entrepreneurs and small business owners.
  • Some familiarity with real estate terms: commission, leads, agent, closing, broker, lisiting.
  • The role of a mentor and mentee.

• Guiding Questions

  
  
  • What are the qualities of an entrepreneur or small business owner?
  • What qualities help entrepreneurs become successful?

• Procedure

  
  

  1. To introduce the lesson, ask students, “What are the essential qualities of a successful entrepreneur or small business owner?”

  • During whole group discussion prompt students to think about what type of learned and personal qualities the person would need. Students should consider the ways entrepreneurs and small business owner’s ideas of work satisfaction differ from people who for example, enjoy working for a large company, a non-profit agency, or a government agency, etc.
  • Students should be sharing and be able to define learned and personal qualities such as resilience, work-ethic, confidence, resourcefulness, communication skills, ethical behavior, determination, and empathy for other.
  • Building upon student responses, discuss the importance of these qualities and the risks and rewards of being your own boss including setting your own schedule vs. being told when to work, and collecting a set paycheck vs. the potential of unlimited income.

  2.Provide students with a copy of the case study, “Janet’s Real Estate Success,” (See CPALMS Resource ID # 215774). Set the purpose by explaining to students that they will be evaluating the essential qualities of an entrepreneur or small business owner that Janet, the main character in the case study, shows or does not show in the case study.

  3. As students read the case study, instruct them to annotate their page, including underlining or highlighting important information showing where Janet does or does not use the essential qualities of an entrepreneur or small business owner and write what those qualities are.

  4. Pose the following discussion questions after the case study is read:

  • What are the qualities of an entrepreneur or small business owner that you see Janet use in the case study?
  • What are the qualities of an entrepreneur or small business owner that you do not see Janet use in the case study?
  • What changes must Janet make to be more successful?
  • What role did Michelle play in the case study?

  3. Divide the class into groups of no more than five students each.

  • Distribute the Research Notes (see attachments) to the students to record their research notes.
  • Explain to students that their first task will be to decide as a group who the entrepreneur or small business owner they research will be.
  • Next, have students utilize a search engine and have them search the group’s entrepreneur or small business owner’s name and the word “biography” at the same time.
  • Have students choose a result from one or more (as needed) reputable websites.
  • Instruct students to list evidence of the qualities of an entrepreneur or small business owner found most beneficial to their success on their copy of the attachment.

  4. As each group finishes assign them either the buyer or seller scenario from the case study. Have students annotate on their copy of the case study what qualities of a successful entrepreneur or small business person she needed to use throughout the scenario to serve her client(s) effectively.

  5. To bring the lesson to a close, have students journal or free write their answer to the following questions:

  • • How did researching a real-world example of a successful entrepreneur or small business owner help you understand the changes that Janet need to be successful?
    • What do you feel is the most important skill required of an entrepreneur or small business owner?
    • How can you use or apply the workplace skills you learned about in this lesson every day in the classroom?

• Teacher Notes

  
  
  • The term “people business” refers to recognizing that understanding and building personal relationships with customers is important to a success in business.
  • A customer relationship management (CRM) system is a technology that allows business owners the ability track interactions with their customers and potential clients.
  • Comparable sales data refers to properties that have sold that best match the property characteristics of property a real estate agent is assisting their client with.
  • A market analysis is a document a real estate agent prepares that uses data to estimate the value of a property to help sellers determine a listing price and buyers their offer price.
  • The teacher can have students write their responses to the closing activity as an exit ticket on the back of their notes as an alternative.