Introduction

Picture this: you and a team of learners are presented with the task of writing a Business Plan. Each of you are thinking of a business needed in Randleman. But instead of looking to an encyclopedia or a textbook, you are going to use your Business Plan Webquest to find out what a Business Plan is, why an entrepreneur needs to have one, and formats (templates) for designing a Plan around a business you would love to build.

Based upon what each of you learn from reading the web-sites listed, you will be able to classify the Sections you will need in the Plan, analyze, deduce and generalize in projecting future numbers and success of the business, construct a system of support, identify and analyze any errors in your thinking that you can see, and compare your idea against competitors who perhaps are already in the business you are trying to get into.

Often when we use the Internet for our research, many people post their personal opinions or only know a sliver of the whole story. In the following WebQuest, you will use the power of teamwork and the abundant resources on the Internet to learn all about a Business Plan. Each person on your team will learn one piece of the puzzle and then you will come together to get a better understanding of the topic. The Webquest is to save you time in your research. However, if you feel you need more information, you may access other web sites to seek answers to questions.

Keep in mind - Capital firms read 50-100 Business Plans for every one they invest in. Your Plan is successful only if the class and teacher vote that your Plan is worth giving you money.

The Quest

After reviewing your Business Plan, will you receive funding by the lending institution or decide not to get into that Business? Why or why not?

The Process and Resources

In this WebQuest you will be working together with a group of students in class. Each group will answer the Task or Quest(ion). As a member of the group you will explore Webpages from people all over the world who deal with Business Plans as a job. Because these are real Webpages we're tapping into, not things made just for schools, the reading level might challenge you. Feel free to use the online Webster dictionary or one in your classroom.

You'll begin with everyone in your group getting some background before dividing into roles where people on your team become experts on one part of the topic.

Phase 1 - Background: Something for Everyone

Use the Internet information linked below to answer the basic questions of who? what? where? when? why? and how? Be creative in exploring the information so that you answer these questions as fully and insightfully as you can.

Phase 2 - Looking Deeper from Different Perspectives

INSTRUCTIONS:

1. You will work in pairs according to your chosen business. Your larger WebQuest team will explore one of the roles below.

2. Read through the files linked to your group. If you print out the files, underline the passages that you feel are the most important. If you look at the files on the computer, copy sections you feel are important by dragging the mouse across the passage and copying / pasting it into a word processor or other writing software.

3. Note: Remember to write down or copy/paste the URL of the file you take the passage from so you can quickly go back to it if you need to to prove your point.

4. Be prepared to focus what you've learned into one main opinion that answers the Big Quest(ion) or Task based on what you have learned from the links for your role.

Examples of 'How to Do' Business Plans

Use the Internet information linked below to answer these questions specifically related to role, job or perspective #1:

1. What is a Business Plan?

• National FBLA site-Definition of Business Plan/Plan template - This site gives a definition of what a Business Plan is. Also on this site is a Business Plan template that if used will mean you meet FBLA National Competition standards and can enter your State Competition to qualify.
• Think like an investor and do a better business plan - Pages 1-21 of this site gives a wonderful presentation in slide format on the importance of a Business Plan and what to include. Pages 22-49 help you think as an investor would and therefore helps one to write a better plan.

Business Plan templates

Use the Internet information linked below to answer these questions specifically related to role, job or perspective #2:

1. Why does an entrepreneur need a Business Plan?
2. Why are there various different ways to do a Business plan?

• Teaching Kids Business and Entrepreneurship - This site also gives the format of a business plan. It gives examples of what to put on the cover page, Table of Contents, and describes other parts and pages of a Business Plan.
• Examples of various types of Business Plans - While the Business Plans in this site are extremely long and detailed, the variety of plans helps students see that their plan needs something different to make it stand out.
• Business Plan Template - Another type of Plan Template for you to choose from.

Legal Requirements and other elements included in Business Plans

Use the Internet information linked below to answer these questions specifically related to role, job or perspective #3:

1. Your first objective is to decide who will become the 'expert' on which part(s) of the Plan. The number of you have will depend on the number of people in your group.

2. Use the demographic site to determine where to locate your business.

3. From the Encyclopedia of Law site determine what legal form you want your business to take.

4. Also from the Law site determine how many employees you either need or can afford, the accounting system you will use, and what kind of taxes you will need to pay.

• Demographic information for Randolph County cities - Gives information on population census, age, and race. This information can be used to help you decide the location of your business.
• Encyclopedia of Law on Small Businesses - Answers frequently asked questions regarding Small Business Legal Structures, Business Taxes, Licenses/Permits, Bookkeeping and Accounting practices for small businesses, legal structures and finding and locating a place for your business.

Accounting tips and templates to substantiate research

Use the Internet information linked below to answer these questions specifically related to role, job or perspective #4:

1. This site shows you how to do the various accounting functions required by law.

2. Templates for Balance Sheet, Income Statement, and other accounting documents one needs to keep up with in a Business.

3. To start a small business in North Carolina where do you get the license to operate, or do you need one?

• A Balance Sheet, Income Statement and other Accounting Templates - If you have acquired a business or have been in business for years, you will need to access this site as Balance Sheets, Income Statements, Cash Flow Statements, and other documents need to be filled out.
• List of web sites for each state telling where to get a small business licencse - A section of the Small Business Administration web site with a state by state listing of web sites to find information on where to obtain permits and licenses for starting a small business.

Phase 3 - Debating, Discussing, and Reaching Consensus

You have all learned about a different part of a Business Plan. Now group members come back to the larger WebQuest team with expertise gained by searching from one perspective. You must all now answer the Task/Quest(ion) as a group. Each of you will bring a certain viewpoint to the answer: some of you will agree and others disagree. Use information, pictures, movies, facts, opinions, etc. from the Webpages you explored and ones you find to convince your teammates that your viewpoint is important and should be part of your team's answer to the Task / Quest(ion). Your WebQuest team should write out an answer that everyone on the team can live with.

Phase 4 - Real World Feedback

You and your teammates have learned a lot by dividing up into different roles. Now's the time to put your learning into a letter you'll send out for real world feedback. This letter will be to Todd Alexander, Chairman, of Randolph Bank and Trust. Each of you will write your own letter that contains opinions, information, and perspectives that you've gained. Here's the process:

1. Begin your letter with a statement of who you are and why you are writing your message to this particular person or organization.

2. Give background information that shows you understand the topic.

STATE THE TASK / QUEST(ION) AND YOUR GROUP'S ANSWER.

3. Each person in all groups should write a paragraph that gives two good reasons supporting the group's opinion. Make sure to be specific in both the information (like where you got it from on the Web) and the reasoning (why the information proves your group's point).

4. Have each person on the team proofread the other's message. Use correct letter format and make sure you have correctly addressed the email message. Use the link below to make contact. Send your message and make sure your teacher gets a copy.

Your Contact is: Rita Wipfield

Conclusion

Now you know how group interaction can help you see more than just reading the material would have done for you. Now you all know a lot more. Nice work. You should be proud of yourselves! How can you use what you've learned to see beyond the black and white of a topic and into the grayer areas? You received your loan, now what? Remember, learning never stops.

Your paper will be evaluated by the following rubric:

An A paper

A correct statement as to why a person does a business plan in connection with starting a new business.

An overview of what a Business Plan is.

All the parts of a Business Plan are recognized, with questions stated that are answered in each part.

Stating whether you agree or disagree with the group and why or why not?

Good organization, well-developed reasons, and few mechanical errors (spelling, grammar, sentence fragments).

A 'B' paper:

Moderately developed arguments for reasons given.

Statement as to why you chose the business you did.

Few mechanical errors.

Knows what a Business Plan is, but doesn't know how to do one.

'C' papers

Fair organization, some mechanical errors.

Can find information on Business Plans, but not sure still what to do.

'D' papers

General statements regarding Business Plans.

A list of points, poor organization, many mechanical errors.

The Business Plan in this course is a kapstone activity. You can not pass the class without doing the Business Plan. No plan will result in student failing course.