How to start your own business

Course Description

This entrepreneurship course guides young students through the essential steps of launching a small business, providing a journey from initial idea to market. Students begin by identifying a real-world problem they want to solve, learning techniques for market research, customer interviews, and competitive analysis to ensure the problem’s significance. They then brainstorm and develop a creative solution in the form of a product or service, which will serve as the foundation of their business.

Once the problem and solution are defined, students form teams, assigning roles like CEO, Finance Manager, and HR Manager, to experience the dynamics of a real business. In their roles, they assess capital needs and learn about the fundamentals of equity, shares, and share pricing. With this foundation, students calculate initial capital requirements and set realistic financial goals.

The next stage focuses on production. Teams design and develop a prototype. They explore pricing strategies to find an optimal balance that reflects the value of their product while remaining competitive. Once the product idea is ready, students dive into marketing strategies, learning how to effectively promote their business, identify target customers, and use digital and traditional media to generate interest and drive sales.

Financial literacy is a critical component of the course, and students learn to generate basic financial reports that track revenue, expenses, and profits, helping them understand the financial health of their business. As they approach the end of the course, students explore business exit strategies, including liquidation, to gain insight into the full lifecycle of a business.

At the end of each week, teams compete for awards, including Best Company and other category recognitions, adding a layer of motivation and friendly competition.