This is a case study of an early-stage company.
Appropriate Subject Area(s):
Entrepreneurship, business management, opportunity identification, marketing, partnerships
Key Questions to Explore:
- What factors contribute to an entrepreneur’s success?
Introduction to lesson and task:
This lesson explores factors that contribute to success of a venture. It is designed to work in conjunction with the lesson plan entitled “With two more cafes set to open, future is bright for Balzac’s Coffee,” which is also posted this month.
Action (lesson plan and task):
- Review with the class factors that can contribute to success of the individual entrepreneur and of the entrepreneurial venture. Make a list.
- Distribute the article for reading.
- With the checklist in hand, ask students to read and find where Jay Firestone, Jody Colero and their company Joe Books align with the characteristics on the list, and where they might be different.
- How do they compare and contrast to Ms. Olsen of Balzac’s Coffee and Mr. Tian of Smartwatch Duo and Neptune? Use a chart to show differences and similarities.
- What advantages, if any, does Joe Books have over the other two ventures?
Consolidation of Learning:
- Each of the entrepreneurs in the three articles have very different philosophies about growing their venture. Describe their philosophies and outline what they are doing to support their growth philosophy.
- Students are able to understand that success comes in all formats and sizes and that growth for one entrepreneur may be very different from other entrepreneurs.
- Have students write a one minute paper on what they have learned about success as an entrepreneur.