Detailed Lesson Plan Preparation

Elementary Education

Name: Steven Lemmons

Title: So you Want to be an Entrepreneur?

Grade: 3rd

Concept/Topic: Economics and Entrepreneurship

Time Needed: 30-45 minutes

Note: A detailed lesson plan is specific enough for another teacher to read and teach
effectively. There should not be any question regarding what to do or how to do it.

Backward Design Approach: Where are you going with your students?

Identify Desired Results/Learning Outcome/Essential Question:

Why do people want to become entrepreneurs and how can they run a successful business?

Students will be able to explain why people become entrepreneurs and define key vocabulary about
entrepreneurship. Using this information, students can brainstorm and create their own business.

NCSCOS/Common Core Standards: 3.E.2.1 Explain why people become entrepreneurs

Assessment Plan:
Students will be assessed on their ability to correctly complete the So you Want to be an Entrepreneur
worksheet. Students must define vocabulary in their own words, list risks and rewards when starting a
business and brainstorming a business plan.
Meeting the student where they are:

Prior Knowledge/Connections: This lesson will be an introduction lesson on entrepreneurship and

economics. The students have read books about service and business. They will recognize words like
service, profit, advertise, and customer.

Lesson Introduction/Hook: We will begin the lesson with a turn and talk. The students will turn to a
partner and discuss what it means to be an entrepreneur and why people want to become
entrepreneurs. Be sure to listen to student conversation and discourse. After about 1-2 minutes, regain
the students attention and have some pairs share what they discussed as a group.

Heart of the Lesson/Learning Plan:

Lesson Development:
1. Hook: Have students will turn to a partner and discuss what it means to be an entrepreneur and
why people want to become entrepreneurs. After about 1-2 minutes, regain the students
attention and have some pairs share what they discussed as a group.
2. After a few groups share, read Have a Lemonade Stand by Bridgette Heos. Stop and ask the
class to turn to a partner and discuss vocabulary words such as supplies, profit, customer, and
advertise.
3. Next, have students return to their seats and pass out So you Want to be an Entrepreneur
worksheet. As a class we will work together to define advertise, customer, loan, profit, supplies
and system. The students will be assessed on their ability to define these words in their own
words not memorization. Have students try to define each word before providing definitions.
4. Lastly, let the students complete the rest of the worksheet. Clearly explain that the risk vs.
reward part of the sheet is for students to provide examples not define the terms. Also explain
that the business idea is for brainstorming ideas.

Specific Questioning:
What type of supplies will your business need?
How will you advertise your business?
What are some risks when starting a business? Rewards

New Vocabulary:
a. Advertise: To tell customers about your business through signs or other messages
 b. Customer: A person who buys or might buy what you are selling

c. Loan: Money given to you that you must pay back. The borrower usually pays interest
(more than the original loan).

d. Profit: Money made after expenses are paid

e. Supplies: Items needed to make something or provide a service

f. System: An organized wary of doing a job

Materials/Resources:
Entrepreneur slides, Have a Lemonade Stand by Bridgette Heos, So you want to be an entrepreneur
worksheet.

Teaching Behavior Focus:

lessons and unit plans account for students experiences, prior knowledge, strengths, and
stages of development

Follow-Up Activities/Parent Involvement:

We will continue our business plans throughout the week.
 So you Want to be an Entrepreneur?
Terminology:

Advertise:

Customer:

Loan:

Profit:

Supplies:

System:

Risk vs Reward

(list some risks and rewards of starting a business)

Risk Reward

In the space below, brainstorm some ideas for a startup business. List, draw, create
a chart etc.
Mini-Lesson 1 (Day 2)
Essential Question(s) of the Unit
o Why do people want to become entrepreneurs and how can they run a successful
business?

Guiding Question(s) for the Lesson

o What are some characteristics of successful entrepreneurs?
o Of these characteristics which ones do you possess?
o Why is important to have these characteristics to start up a business?
Standards
3.E.2.1 Explain why people become entrepreneurs

Objectives

o Students will be able to.

Define characteristics of entrepreneurs and how these characteristics can
help individuals be successful.
Resources
o 6 Characteristics of Entrepreneurs, Social Studies notebook
Lesson Development:
o Start the lesson by asking students to turn and talk with others about
characteristics of successful entrepreneurs. This is a brainstorming session. First give
an example of a characteristic such as motivation. Explain to the students that they
should not just write a word but really think why this characteristic is important for
entrepreneurs to have.
o Students will wright down characteristics in their social studies notebook. Walk
around classroom and listen to conversations. After allowing students to discuss
their ideas, share with the class some of the characteristics the students came up
with. Write these on the board or chart paper.
o After the turn and talk, have students share ipads/laptops (2 students per devise) to
read the article 6 Characteristics of Entrepreneurs.
o I Do: After reading, the students will pick one of the six characteristics that they
possess. Model this by choosing a characteristic from the article and writing why it is
important for entrepreneurs to possess this. Be sure that students do not write the
same reason of importance as the instructor.
o We Do: Before allowing the students to write about their own characteristic chosen
from the article, ask a student to share one of the characteristics they brainstormed
before reading the article and share why entrepreneurs should have the
characteristic.
o You Do: Finally, students will write a small piece about which characteristic they
possess and why it is important for successful entrepreneurs to possess this
characteristic.
o If there is remaining time, have students work on their business plan.
Mini-Lesson 2 (Day 3)

Essential Question(s) of the Unit

o Why do people want to become entrepreneurs and how can they run a successful
business?
Guiding Question(s) for the Lesson
o How do business work?
o What types of businesses are there?
o What are two specific types of business mentioned in the article?
o What type of business would yours be?
o What can you do to raise money for your business?
o What are the risks for starting up businesses?

Standards
o 3.E.2.1 Explain why people become entrepreneurs.
o 3.E.2.2 Give examples of entrepreneurship in various regions of our state.
Objectives
o Students will be able to explain how businesses work and how to start up a
business.
Resources
o How Does Businesses Work, social studies notebook
Lesson Development:
o I Do: Start the lesson by modeling the activity for the day. We will add on to our
business plans by listing 1. What type of business it is? 2. How will you raise money
to start your business? 3. What are the risks of starting your business. 4. Who are
some successful entrepreneurs in history? How were they successful? (Historical
Perspective). Use instructor business plan for the entire unit. Just write these
questions on the board, do not add anything to them until after the students have
read the article.
o Pass out the How do businesses work article. Students are to read this article
thoroughly, focusing on the types of businesses, why businesses go out of business,
and how to start a business sections of the article.
o We Do: Once all students are finished reading, bring the class together to add on to
the instructors lesson plan. Answer the What type of business? question without
student help. Model for students that they need to refer back to the article in order
to answer the questions for their own business plan.
o You Do: After allowing time for students to read the article and complete the
instructors list as a class, have them start their own list for their business plan. Once
all students are finished reading, bring the class together to add on to the
instructors lesson plan. After adding onto the list, have the students continue to
work on their list. Push students to think critically when making their list. Use what
they learn from the article to create their business plan.
Mini-Lesson 3 (Day 4)

Essential Question(s) of the Unit

o Why do people want to become entrepreneurs and how can they run a successful
business?

Guiding Question(s) for the Lesson

o How does the holiday season effect the economy?
o What is one fact you learned from the video about holiday shopping and
economics?
o What will your business sale during the holidays?
o Will your business profit from holiday shopping? Explain?
Standards
o 3.E.1.1 Explain how location impacts supply and demand.
o 3.E.1.2 Explain how locations of regions and natural resources influence economic
development (industries developed around natural resources, rivers and coastal
towns).
Objectives
o Students will connect a the current season to their business plan. They will connect
what they learn about economics to their business plan.
Resources
o Economic Effect of Christmas shopping season, Business plan/social studies
notebook
Lesson Development:
o Introduce this mini lesson by explaining the focus of the day. For this mini-lesson,
we will look into the impact holiday shopping has on the economy. Start the lesson
by showing the class the Economic Effect of Christmas shopping season. While
watching the video, students need to take note on how the holiday season effects
the economy and one interesting fact they learned from the video.
o After the video, the students will be tasked with connecting the video to their own
business plan. In their social studies notebooks, students will record what their
business will sale during the holidays and if their business will profit.
o I Do: Before the students answer these questions regarding to their own business
plan, model what to do with the instructor example business plan used throughout
the unit. Doing this will set clear expectations, guiding students to success.
Questions to be answered:
How does the holiday season effect the economy?
What is one fact you learned from the video about holiday shopping
and economics?
What will your business sale during the holidays?
Will your business profit from holiday shopping? Explain?

o We Do: After answering the first two questions, ask the students to help answer the
final two based on what they observed in the video.
o You Do: Students will then answer the question based on their business plan.
Mini-Lesson 4 (Day 5)

Essential Question(s) of the Unit

o Why do people want to become entrepreneurs and how can they run a successful
business?

Guiding Question(s) for the Lesson

o How will your business make a profit?
o What are the risks of your business?
o Who will you be selling your product or good to?
o Would you seek out investors like the ones in shark tank?
Standards
o 3.E.2.1 Explain why people become entrepreneurs
o 3.E.1.1 Explain how location impacts supply and demand
Objectives
o Students will use what they have learned about economics and business to create a
business plan.
Resources
o Mos Bows Video, social studies notebook/business plan
Lesson Development:
o Open lesson by explaining to the class that we will concluding our business plans.
o Show the students the video of Mos Bows to the class. While watching the video,
push students to look for Mos business plan and how he pitched his ideas to the
sharks.
o I Do/We Do: After the video, I will model to the class expectations of todays
lessons. I will create a list of 1. How my business plan will make a profit 2. What risks
I will be taking 3. Who I will be selling to and 4. Would I seek investors. After
modeling for the students, have them share ideas. Ask if they see my business going
in another direction.
o You Do: After modeling for the students, let them record the list in their social
studies notebooks. Remind them to refer back to the video and look at Mos
business as an example.
o Circle the room to see progress and ask higher level questions.