Business Research
By now you should have completed your research on the business ideas you and your team have discussed. In this lesson, you will
- complete product research forms for each business idea
- review your findings
- agree on 1 or 2 products or services based on the data collected on the Business Research Form
Click the link below to download a Word version of the Business Research Form
Make sure you complete the entire lesson today, including the submission at the end of the page.
Business Planning
Planning is crucial for any business. Putting your plans into a Business Snapshot will help you organize your business team and set expectations for each responsibility.
The Business Team Task Lists will guide the approach each business team must take to complete business planning. Click the link below that describes the business team you are a part of in your company.
Ask the facilitator to clarify any questions or concerns you may have in completing the assigned tasks. You will have other opportunities to discuss this as you work through the details over the next few days.
Each detail in the Business Team Task List will help you complete the Business Snapshot (a micro version of a business plan but covering all the critical components). You can take a peek at the template by clicking HERE.
Company Name
Once you have agreed on the product or service your group would like to produce, it’s time to give your company a name. All company names must be appended by the phrase “a JA Company”. If you look at our logo, you will see an example of this appendage. Our legal name is Junior Achievement St. Kitts and Nevis (JA St. Kitts and Nevis). Our logo also shows that we are a Member of JA Worldwide.
If you name your company “J, J and P” then you will register it as either
- J, J and P, a JA Company or
- JA Company: J, J and P
You must create a company name before moving the end of today’s lesson which requires a submission that includes the company name.
Raising Capital
Capital is the money that is needed in order to create a new business and is a requirement for any business startup.
Personal capital (savings, credit cards, etc.) is the way to maintain the most control over decision making for your business, but it’s also the most financially demanding.
Now that you are finalizing plans for the company, you need to determine how to secure your funding.
NOTE – all capitalization plans must include an investor option.
Business Meeting
On Saturday July 16, 2022, you will take part in your first Business Meeting. For the next few weeks your assigned Mentor will help you work through an agenda. Once your business launches, you will be responsible for managing your own Business Meeting. Pay attention to the details shared by the Mentor at your next session.
Business Meetings are intended for you to share updates on the development of your company and to strategize on next steps. You will also hold departmental meetings with the people in your team. If yours is a small business, (does not have a lot of employees), then the members of your team should play dual roles, (leaders and employees). It is recommended that you consider bringing employees onboard to get the full experience of leading and managing.
You will use the appropriate Business Team Task List to navigate through this segment of your company’s development.
Product Approval Submission
All products/services must be pre-approved by JA before you begin production. Use the link below to submit your product/service for approval.