The Kidpreneur’s Guide to Building Your Buzziness Plan
This companion workbook to Bee Fearless: Dream Like a Kid is a step-by-step guide to creating a business plan. Mikaila seamlessly guides aspiring kidpreneurs through the key pillars of building a business, from coming up with a buzz-worthy idea to putting it out into the world. It’s filled with engaging activities that entertain and educate the reader. The workbook culminates in a completed business plan and a Certificate of Buzziness, signed by Mikaila herself. Note: This workbook is meant to be printed. You can print it out in color or black and white. Although it looks way more bee-u-tiful in color and at its actual size (scale: 100%).
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“Honey Hunting” Word Search Solutions
Need help finding a word in the “honey hunting” word search on page 3 of the workbook? Click the link below to peek at the solutions.
Glossary of Buzziness Terms
Here’s a list of important words every kidpreneur should know before starting their very own buzziness. You might recognize a few of them from the workbook.
Keeping track of how much money comes in and goes out of your business as you sell things and buy things.
Everything that you do to tell customers about your business or product.
The amount of money the bank is holding for you.
A person who serves as an officer of a bank.
The way customers see a company or service. A brand is shaped over time by images such as a logo, by messaging, such as taglines, and through people’s experiences with the business itself.
A list of all planned expenses and revenue.
Budget versus actual
Comparing the amount of budgeted expenses to the actual amount of money you spent.
A business (or “buzziness” as I sometimes like to call it) is an organization where physical items or services are traded for one another—or for money. In order to start a business, you need to save up enough money and have some customers in order to make a profit. Lastly, your business should be something you really enjoy! Think about all the things you love and how you can turn
your passion into profit. Experiment with different ideas until you find the sweet spot! Before I started my lemonade stand, I had other businesses, like selling friendship bracelets and wildflowers.
A business fair is an event where you can set up a booth and sell your product or service. Sometimes, there are even awards and prizes given out to the most popular businesses. I had so much fun selling my lemonade and connecting with customers at the Acton Children’s Business Fair and Lemonade Day.
A person who helps you to take care of the physical needs of the business.
This is a very important document that includes key information about your product or service. It outlines your idea, how you’ll spread that idea to your target market, how much you’ll charge, and much more. It’ll also be part of what you present to investors when the time comes to pitch your business and get that honey!
A list of Items used to make sure you have everything you need for your stand.
Shopping to shop for bargains by comparing the prices of competing brands or stores.
These are businesses that are similar to yours. Perhaps they sell the same type of product to the same target market. Or they aim to solve the same problem as your business does.
Cost per unit
This number is exactly how much it costs you to make one item, or if your business is a service, how much you’ll charge for one hour of your time.
A certificate that gives you a discount at a business. Coupons help you get your supplies on sale.
Someone who buys goods or services from a business.
How businesses interact with their customers and take care of their needs.
Money or goods given to an institution or individual that improves their condition.
Your prepared speech given to potential investors or partners that quickly describes your business.
An entrepreneur is someone who has a great idea and decides to create their own business. Even though it might be hard at first and there are risks involved, a true entrepreneur moves forward fearlessly, bee-lieving in their brilliant idea—every step of the way.
All costs related to your business Goal the specific task or target a person aims to achieve.
This is a way to show off your product or service at events. This type of marketing is hands-on and very engaging. The goal is to create an unforgettable experience for your customers. For example, when I first started selling my lemonade at business fairs, I would dress up like a bee. People knew right away what my business was all about—and they definitely didn’t forget me!
Finance is all about managing your money. As a new kidpreneur, you have to be extra careful about how you spend the money you make (whether that be from your allowance, summer job, or a particularly lucky excavation of your couch cushions). It’s really important to save as much as possible, so you can invest it back into your business. That means putting money into it (buying supplies, marketing materials, etc.) to help your business grow. The more time, energy, and money you put into your business, the more money you’ll make.
The specific task or target a person aims to achieve.
An organization that provides health services as an education to protect the general public.
Your big idea is your creative product or service—one that doesn’t already exist—that solves a particular problem in the world. It’s something you sell to people, and if you do it right, you should have more money when you finish than when you started. Think of your idea like the Queen Bee of the hive. It’s the mother. The life force. Without it, nothing else would exist. Same with your idea. If you didn’t have a great buzziness idea, there would be nothing to market, and nothing to finance. You’d be a lonely kidpreneur, twiddling your thumbs, thinking about how the heck to spend your summer vacation.
This is the amount of money you’ll earn from selling your product or service.
Money paid to you by a bank for the money you have in a bank account; a charge or fee for borrowed money.
A percentage of the amount of money borrowed that must be returned in addition to the borrowed money.
A person who lends money in order to earn a financial return.
Items that once you use them they are gone and you have to buy more.
A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
This is the process every company goes through to tell people all about their product or service . The key to successful marketing is whether a company can convince people to buy it. You can do that by checking the four boxes of successful marketing. In the biz, we call these the 4P’s.
You can learn even more about each one in Chapter 6 of my book on pages 88 - 90.
How’s the quality of your product or service? Is it something that will make people’s lives easier
or better in some way (especially for people in your target market)?
Where will you sell your product or service? Is it convenient for your target market to buy it there?
How much will you sell it for? Is it a price your target market would be willing to pay?
How will you tell people it exists? Would your target market easily see your promotions (e.g. T.V. commercials, radio, Instagram, billboards, etc.)?
When you can quantify or count something to show results.
Paying it forward
To use some of your profit to help another entrepreneur.
To ask someone if it’s okay to do something.
The practice of giving money and time to help make life better for other people.
Point(s) of sale
The place or places (physical and digital) where you could sell your product or service.
Grab some markers and sturdy paper. Think about where you will set your posters up. Another option is to design them on the computer and print them, although that will be a bit more expensive.
When you get someone to commit to buying something from you before you make it.
A product is something tangible, or an item you can physically touch (e.g., cookies, scarves, or even my lemonade!).
Operating your business with competence and skill.
The money gained from sales after expenses are paid.
Thinking back over your experience about what you learned, what you did right, and what you can do better next time.
All money that comes into your business.
The possibility that loss will happen.
Freedom from danger or risk of injury.
Creating interest in your Idea or product to make people want to buy it.
When you take practical steps to keep your product safe so that your customers stay well.
An amount of money that is not spent but is set aside for future use.
A service is something intangible, or something you can’t touch. It’s something you provide to your customers with your skills and/or time (e.g., babysitting, tutoring, mowing the lawn, etc.).
Dividing something into parts and each section uses a part.
This is how much you’ll charge for your brilliant product or service. You may want to consider charging more if you have a special skill or if you’re selling a specialty product. For instance, if you’re a math whiz, look up how much a math tutor typically charges per hour.
A social entrepreneur is someone who creates a product or service that solves a problem in the world. Basically, they look for life’s lemons and make lemonade! Their business not only makes a profit, but it also makes the world a better place.
Create business accounts on Twitter, Instagram, and more. Important note: Be sure to separate these accounts from your personal accounts.
Items that you can use over and over again.
The amount of money you need to launch your business.
Stickers, pins, and business cards:
You can make these yourself like I did for my lemonade stand! Design them on your computer using a program like Canva or Avery (or ask your parents for help), and then print them online or at an office store.
Your target market is the group of people who is likely to buy your product or service.
TV, online advertising (YouTube pre-roll, banner ads, Google, various websites, etc.), billboards, magazine, radio, etc. This type of advertising can also get pretty pricey, so be sure you do your research on each one before you invest.
Word of mouth
Encourage people to talk about your business and post about it on their own social media accounts.
Lemonade Day: lemonadeday.org/resources
Biz Kids: www.bizkids.com
Lemonade Tycoon: www.someschoolgames.com/kids-games/lemonade-tycoon/
Lemonade Larry: www.prongo.com/lemon/
Savings Spree by Money Savvy Generation