IS ENTREPRENEURSHIP FOR YOU?
Starting a business is an exciting proposition, but it’s also an incredibly challenging undertaking if you do it the right way. The Small Business Administration (SBA) resources in this section will help you learn about what it takes to start a business.
Click each section to read more to discover everything you need to know to start your own business.
DECA Competitive Events Under Entrepreneurship
Business Growth Plan
Entrepreneurship Team Decision Making
Franchise Business Plan
Independent Business Plan
International Business Plan
Start-up Business Plan
Virtual Business Challenge – Entrepreneurship
BUILD YOUR BUSINESS PLAN
Are you interested in starting a business? Creating a business plan is one of the most important steps you will take because the plan serves as your road map for the early years of your business. The business plan generally projects 3-5 years ahead and outlines the route a company intends to take to reach its yearly milestones, including revenue projections. A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis.
SBA's Business Plan Tool provides you with a step-by-step guide to help you get started. All of your information entered into this tool is 100% secure and can only be viewed by accessing your account using the password you have specified. Not only can you save your plan as a PDF file, you can also update it at any time, making this a living plan to which you can often refer. You can also use your completed business plan to discuss next steps with a mentor or counselor from an SBA resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women's Business Center (WBC).
Complete each section of SBA's Business Plan Tool at your own pace. Save your work at any time and pick up where you left off the next time you log into the tool. Your information will be saved for up to six months after your last login date.
During the step-by-step process, this tool will update the status of your business plan. Once you save your information and move to a new section in the business plan, a checkmark will appear in the numbered section menu at the top of the screen denoting when each section is complete.
This 30-minute course introduces young entrepreneurs to the basics of creating and financing a successful business. You will learn to evaluate your ideas, choose the best financing options and legally register your business. The course will point you to the resources you need on your entrepreneurial journey. Complete the online checklist before completing the course. This is an essential guide for any young entrepreneur to complete before starting a business
LEAN BUSINESS MODEL CANVAS
It was discovered that more and more entrepreneurs are framing their business models using a “canvas.” The canvas is a way to present the key components of a business model on one piece of paper. Once the key components have been identified, the details of the business plan and model can be filled in using more detail. The Lean Business Model Canvas (shown below) has nine sections or components. Here is a brief explanations of the components:
Problem - In this section, members should list the top three problems their product/service is addressing.
Customer Segments - In this section, members should list who the primary customers will be for their product or service.
Unique Value Proposition - In this section, members should identify the single, clear, compelling message that states why their product/service is different and worth buying.
Solution - In this section, members should identify the top three features of their product/service.
Channels - In this section, members should determine the possible pathways to customers.
Revenue Streams - In this section, members must explain the revenue model, determine life time values, describe the revenue, and determine gross margins.
Cost Structure - In this section, members should calculate the customer acquisition costs, the distribution costs, the human resources costs, and any other additional costs.
Key Metrics - In this section, members should identify the key activities that must be measured.
Competitive Advantage - In this section, members should describe what about their product/service means that it cannot be easily copied or bought.