Business Basics Slides Business Basics
Foundations of Business: Day 1
What is a Business?
"An organization that provides goods or services to others in exchange for money."
Goods
Physical things you can touch (phones, food, cars).
Services
Actions done for you (haircuts, tutoring, repairs).
Why Start a Business?
PROFIT
The money left over after all the costs of running the business have been paid.
Revenue
$1,000
−
Expenses
$700
=
Profit
$300
Two Main Types
For-Profit
Goal: Make money for owners.
Pays taxes on profits.
Example: Apple, Starbucks, local bakery.
Non-Profit
Goal: Serve a cause or mission.
Reinvests all money back into the cause.
Example: Red Cross, local animal shelter.
Think-Pair-Share
Think of one local business in your town.
Is it for-profit or non-profit?
Profit Pursuit Worksheet Profit Pursuit
Business Foundations • Day 1
Name:
Date:
Part 1: Key Terms
1. In your own words, what is the main purpose of a for-profit business?
2. Define a "Good":
3. Define a "Service":
Part 2: The Profit Equation
Calculate the profit (or loss). Show your math in the work space provided!
A: Lemonade Stand
Revenue: $50
Work Space
FINAL: $
B: Tech Repair Shop
Revenue: $1,200
Work Space
FINAL: $
Part 3: Business Identity
Business Name Good or Service? Profit or Non-Profit? Netflix
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| The Salvation Army |
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| Nike |
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| Public Library |
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Challenge: If a non-profit ends the year with extra money, what must they do with it? How is this different from a for-profit business?
Supply and Demand Slides Market Dynamics
Needs, Wants, and Supply: Day 2
Needs vs. Wants
Needs
Things you must have to survive.
Food & Water
Shelter
Basic Clothing
Wants
Things that make life easier or fun.
Video Games
Designer Items
Vacation Trips
The Market Engine
Demand
How much people want a product or service.
Supply
How much of a product or service is available.
When Demand is High & Supply is Low...
Prices Rise!
Scarcity
The basic economic problem: We have Unlimited Wants but Limited Resources.
Resource Level: Low
Case Study: The Sneaker Drop
High Demand
Everyone wants the new "Air Business" kicks.
Limited Supply
Only 500 pairs were made worldwide.
Result: Prices skyrocket to $1,000+ per pair!
Needs and Wants Activity Demand Detectives
Needs & Wants • Day 2
Name:
Date:
Part 1: The Daily Squeeze
Stranded on a deserted island: classify each item as a Need or Want and explain why.
Drinking Water
NEED
WANT
Solar Laptop
NEED
WANT
Tent Shelter
NEED
WANT
Chocolate Bars
NEED
WANT
Part 2: Scarcity Strategy
Scenario: You own a bakery and only have enough flour for 10 loaves of bread, but 50 customers want to buy them. How do you decide who gets the bread? (Higher price? First come first served? Lottery?)
Part 3: Pricing Predictor
New Video Game Console Launch
High Demand • Low Supply
Price will...
Winter Coats in Summer
Low Demand • High Supply
Price will...
Market Master Challenge
Explain the concept of "Demand" by describing what would happen to your desire to buy a product if the price doubled tomorrow.
Ownership Models Slides Ownership Models
Sole Proprietors to Corporations: Day 3
Sole Proprietorship
Owned and operated by one person.
Most common type of business in the world.
Pros:
Full control, easy to start, keep all profits.
Cons:
Unlimited liability (you are responsible for all debts), hard to raise money.
Example: Freelance designer, local lawn care, small hair salon.
Partnership
Owned by two or more people.
Shared skills and resources.
Potential for disagreements.
"A partnership is like a marriage... but for business! You share the risks and the rewards."
— Business Pro Tip
Corporation
A legal entity that is separate from its owners.
Owned by Shareholders (people who buy stock).
Managed by a Board of Directors.
The Big Win:
Limited Liability
If the company fails, the owners (shareholders) only lose the money they invested. Their personal houses and cars are safe!
At a Glance
Feature Sole Prop Partnership Corporation Owners 1 2+ Thousands (Shareholders) Liability Unlimited Unlimited Limited Decision Making Quick & Alone Collaborative Complex Hierarchy
Startup Structure Activity The Startup Choice
Ownership Models • Day 3
Name:
Date:
Part 1: Match the Model
A: The Solo Baker
Sarah wants full control and to keep all profits of her small bakery.
Recommended Model:
B: Tech Duo
Marcus built an app and Lisa is selling it. They want to share the work and profits.
Recommended Model:
C: Global Retailer
A massive brand needs $100M and wants to protect owners from personal lawsuits.
Recommended Model:
Part 2: The Trade-Off
Major RISK of a Partnership:
Major BENEFIT of a Corporation:
Part 3: Final Definitions
Shareholder:
Unlimited Liability:
Founder's Choice
If you were starting your OWN business today, which model would you choose and why?
Inside the Machine Slides Business Structures
Peeking Inside the Corporate Machine: Day 4
What are Departments?
As a business grows, it becomes too big for one person to do everything.
"Divide and Conquer!"
Companies split into functional areas based on what employees do.
Marketing
Finance
Operations
HR
Marketing & Sales
The "Voice" of the company.
Conducts research to find customers.
Creates ads and social media posts.
Sells the product to the target audience.
Key Question:
"Who is our customer and why would they buy from us?"
Finance & Operations
Finance
"Keeping the lights on."
Manages the budget, pays the bills, and tracks the profit/loss.
Operations
"Getting it done."
Actually makes the goods or delivers the services. Oversees the factory.
Human Resources (HR)
"The People People"
Hiring
Finding the right talent for the team.
Training
Teaching employees new skills.
Safety
Ensuring a healthy workplace.
Department Detective Worksheet Department Detective
Business Structures • Day 4
Name:
Date:
Part 1: The Daily Grind
Task: Billboard for new smartphone launch.
Dept:
Task: Interviewing a new manager.
Dept:
Task: Getting factory parts for robots.
Dept:
Task: Calculating company tax bills.
Dept:
Part 2: Crisis Management
Scenario: MegaCorp's new toy is selling fast, but 50 customers just called to say their toy arrived broken. Which two departments must talk to each other to fix this?
Part 3: Advantages & Disadvantages
Advantage of Departments:
Disadvantage of Departments:
Think Bigger
Which business department would you want to lead personally? Why?
Unit Review Slides Mastery Review
Pre-Assessment Refresh: Day 5
The Big Four
01 Foundations
Goods vs. Services, For-Profit vs. Non-Profit, and the Profit Equation (Revenue - Expenses).
02 Economics
Needs vs. Wants, Scarcity, and the laws of Supply and Demand (Impact on Pricing).
03 Ownership
Sole Proprietorships (1), Partnerships (2+), and Corporations (Limited Liability).
04 Structure
Marketing (Selling), Finance (Money), Operations (Making), and HR (People).
Lightning Round
"If demand is high and supply is low, what happens to price?"
Answer: Price Rises
"Which ownership model offers 'limited liability' to its owners?"
Answer: Corporation
"Which department creates advertisements and finds new customers?"
Answer: Marketing
Business Mastery Test Business Blueprint Exam
Unit Mastery Assessment
Candidate:
Score: ____ / 20
Part I: Vocabulary
1. Define Profit and give the math formula.
2. Limited Liability
3. Scarcity
Part II: Core Concepts
4. Which business type is a separate legal entity from its owners?
A) Sole Proprietorship
B) Partnership
C) Corporation
D) Non-Profit Organization
5. If a product becomes scarce and demand is high, the price usually:
A) Stays the same
B) Decreases
C) Increases
D) Becomes $0
6. Which department handles hiring and training?
A) Finance
B) Human Resources
C) Operations
D) Marketing
Part III: Case Study
Revenue: $1,000,000 | Expenses: $1,200,000
7. Did they make a profit or loss? How much?
8. Identify one specific action to improve their finances:
9. Bonus: Why does Scarcity make businesses necessary?
Business Mastery Answer Key Answer Key
Business Blueprint Exam • Teacher Resource
Confidential
Part I: Vocabulary
1. Profit Definition & Formula:
Definition: The financial gain made after all expenses are subtracted from revenue.
2. Limited Liability:
Owners are not personally responsible for business debts; they only lose what they invested.
3. Scarcity:
The condition of having unlimited wants but limited resources.
Part II: Core Concepts
4
C) Corporation
5
C) Price increases
6
B) Human Resources
Part III: Strategy
7a. Profit or Loss?
LOSS ($200,000)
7b. Possible Actions (Accept any reasonable answer):
Reduce expenses (cut staff, move to a cheaper office).
Increase revenue (better marketing, raise product prices).
Launch a new product to attract more customers.
Mindset Matters Slides Mindset Matters
The Entrepreneurial Spirit: Day 6
The Entrepreneur
"A person who organizes and operates a business, taking on greater than normal financial risks to do so."
— Oxford Languages
Sees Problems as Opportunities
Takes Decisive Action
Learns from Failure
Developing the Mindset
Fixed Mindset
"I'm either good at it or I'm not."
Avoids Challenges
Gives up easily
Sees effort as fruitless
Growth Mindset
"Failure is just another way to learn."
Embraces Challenges
Persists in setbacks
Effort is the path to mastery
The Balancing Act
The Risk
Losing money, spending long hours, and the possibility of the business failing.
The Reward
Financial freedom, making an impact, and being your own boss.
Calculated Risk
Successful entrepreneurs don't gamble—they plan and prepare for the unknown.
Failure is Fuel
Walt Disney
Was told he "lacked imagination" by a newspaper editor.
Thomas Edison
Failed 1,000 times before inventing the lightbulb.
Oprah Winfrey
Was told she "wasn't fit for television" early on.
Will you stop or will you start?
Risk and Reward Worksheet Risk & Reward
Entrepreneurship • Mindset Check
Name:
Date:
Part 1: Mindset Rewrite
Fixed Mindset
"I'm just not good at math; I shouldn't bother with the business budget."
Growth Mindset
Fixed Mindset
"Someone already has a business like this. There's no point in trying."
Growth Mindset
Part 2: The Calculated Risk
Scenario: Outdoor Ice Cream Stand
Costs $450 to start. It's July, but the forecast says rain for two weeks.
Risks
Rewards
Decision: Start now or wait? Explain.
Part 3: Personal Profile
A problem in your community to solve:
One lesson you could learn from failure:
Growth Mindset: Failure is not the opposite of success; it's part of it.
Trailblazer Profiles Handout Trailblazer Profiles
Entrepreneurship • Case Studies
Inspiration for Day 6
Melanie Perkins — Canva
Melanie was a 19-year-old college student when she realized that professional design software was way too hard to learn. She saw a problem: design should be simple and accessible to everyone.
Growth Mindset Moment:
Melanie was rejected by over 100 investors in Silicon Valley. Instead of giving up, she used their feedback to constantly refine her pitch until she finally got a "Yes." Today, Canva is worth billions.
Hamdi Ulukaya — Chobani
Hamdi moved to the U.S. from Turkey and noticed that American yogurt was thin and sugary. When he saw a junk-mail ad for a fully-equipped yogurt factory that a giant corporation was closing down, he saw an opportunity.
Calculated Risk:
He took a massive loan to buy the factory and hire back the laid-off workers. He spent two years perfecting the recipe for "Greek" yogurt before launching. He now shares his profits with his employees.
Oprah Winfrey — Harpo Productions
Oprah didn't just want to be a TV host; she wanted to own the content. She founded her own production company, Harpo, becoming one of the first women to own and produce her own talk show.
Ownership Power:
By owning her show, she had full creative control and kept most of the profit. She used that wealth to build a global media empire, proving that an entrepreneurial mindset can be applied to any industry.
Which story inspired you most?
Choose one founder from above. What is one characteristic they showed (persistence, risk-taking, problem-solving) that you want to develop in yourself?
Startup Roadmap Slides Startup Roadmap
From Idea to Launch: Day 7
Step 1: The Problem
"The best businesses don't sell products; they sell SOLUTIONS."
Think about your day. What annoys you? What takes too long? What is too expensive?
Problem Hunters:
"I can't find a place to charge my phone at school." → Solution: Portable charger kiosk.
Step 2: The Audience
Who are you helping?
Your Target Audience is the specific group of people most likely to buy your product or service.
Trying to sell to everyone is a shortcut to selling to no one.
DEFINE THEM:
Age
Interests
Location
Budget
Step 3: The Pitch
A short, persuasive speech used to spark interest. It should last no longer than a short elevator ride (30–60 seconds).
1
The Hook
2
The Solution
3
The Close
Your Turn
Brainstorm one problem and a business solution. Prepare a 30-second pitch for the class!
TIMER STARTS NOW
Elevator Pitch Activity The 60-Second Pitch
Entrepreneurship • Pitch Guide
Team:
Date:
Phase 1: The Spark
1. The Problem:
2. Your Solution:
Target Audience
Who are they? Describe their age and needs.
Phase 2: The Script
The Hook (Catch attention):
The Close (Call to Action):
The Meat (Explain Your Solution):
Phase 3: Peer Review
Most Memorable Part:
One Suggestion:
READY FOR LAUNCH? REFINE AND PITCH TOMORROW!
