Module 1 Lesson 1 - Ideation (Student Version)

Objective: Understand the ideation process and engage your entrepreneurial spirit.

Success Criteria: You can explain what the ideation process is, and you've started brainstorming business ideas.

Activities:

1. Begin by watching the "It's Business Time" video, which provides an overview of the Founda course, the entrepreneurial journey, and the 21st-century skills you'll learn. This video will introduce you to the concepts and goals of the course, as well as inspire you with examples of successful businesses created by other students.

2. Research the 10 richest people in Australia, noting who they are, what they do, and their net worth. Examples might include Gina Rinehart, a mining magnate, or Scott Farquhar, co-founder of the software company Atlassian. Imagine yourself joining that list one day!

3. Learn about ideation by researching the definition and process. Understand that ideation is the creative process of generating, developing, and communicating new ideas. This can involve brainstorming sessions, mind mapping, or simply discussing ideas with others.

4. Familiarize yourself with different business types and products/services, such as:

   • DTC (direct to consumer): Companies like Dollar Shave Club or Warby Parker sell products directly to consumers, cutting out middlemen.

   • B2B (business to business): Salesforce or Slack offer services to other businesses to help them run more efficiently.

   • SAAS (software as a service): Platforms like Netflix or Spotify provide software services to customers on a subscription basis.

   • Selling Services (providing a service to consumers): This could be a tutoring service, a landscaping business, or a pet sitting service. Identify examples of each to solidify your understanding.

5. Decide on a business type that suits you best. Reflect on your skills, interests, and the resources available to you.

6. Choose whether you want to work as a sole trader or in a partnership, and identify the pros and cons of each option. Working solo might offer more control, while partnerships can provide shared responsibilities and complementary skills.

7. Keep in mind the program's rules, including:

   • Sustainability: Your business should be eco-friendly and sustainable in some way.

   • Bootstrapping: Try to stick to a $50 budget goal to encourage problem-solving and entrepreneurial skills.

   • Ethical considerations: Be mindful of the ethical aspects of your business, such as avoiding reselling cheap products from overseas.

   • Positivity: Support other businesses in the program and foster a positive environment.

   • Giving back: Donate some of your profits to a charity of your choice.

   • Entrepreneurship: Think bigger and have fun while developing your business!

8. Brainstorm potential business ideas and discuss them with your parents. Consider their feedback and refine your ideas as needed.

Module 1 Lesson 2 - Ideation (Student Version)

Objective: Understand the ideation process and engage your entrepreneurial spirit.

Success Criteria: You can conduct an ideation process and identify potential business ideas.

Activities:

1. Recap the previous lesson, including the definitions of ideation and business types. Review the importance of the ideation process and how it can help generate successful business ideas.

2. Break into partnerships or work solo to brainstorm business ideas. Use methods such as:

   • Listing five problems in your life: Think about what issues or inconveniences you face daily, and how a product or service could solve them.

   • Writing down your passions/interests: Consider the activities and topics you enjoy, and how you could turn them into a business.

   • Noting your contacts: Think about the people you know who have skills, knowledge, or resources that could support your business idea.

     Participating in the Crazy 8s activity: Fold a paper into eight sections and spend one minute per section sketching out eight different business ideas. This exercise encourages rapid idea generation and creativity.

     Generate at least five potential business ideas, ranking them from most to least doable. Consider your available resources, skills, and interests. For example, if you're passionate about art, you might consider starting a custom T-shirt design business, or if you're skilled in coding, you could create a mobile app.

     Discuss your ideas with your parents and ask for their input, suggestions, and any helpful contacts. They might offer insights or connections you haven't thought of that could improve your business ideas.

     Module 1 Lesson 3 - Ideation (Student Version)

     Objective: Understand the ideation process and engage your entrepreneurial spirit.

     Success Criteria: You can explain problems and solutions/pain points for customers, and you can decide on your business idea.

     Activities:

     1. Recap the previous lessons, including ideation, business types, and ideation processes. Review the importance of the ideation process and the different business models you've learned about.

     2. Review the "Problem and Solution" Founda video and learn what problems and solutions mean in the business world. For example, Uber identified the problem of unreliable and expensive taxi services and provided the solution of a convenient and affordable ride-sharing platform.

     3. For each of your business ideas, identify three problems or pain points for potential customers and three corresponding solutions. This could include addressing a need for convenience, affordability, or personalisation. For a tutoring business, the problems might be lack of individualised attention, difficulty understanding certain subjects, and scheduling conflicts; the solutions could be personalised tutoring sessions, subject-specific expertise, and flexible scheduling.

     4. Choose the business idea you want to pursue, ensuring that you have a clear understanding of the problem and solution. Consider the potential impact and feasibility of your idea, and evaluate how well it aligns with your skills and interests.

     5. Discuss your chosen business idea with your parents and contacts, and begin your journey as a young entrepreneur! Gather feedback, refine your idea, and develop a plan to turn your vision into reality.