Lesson 1: Introduction & Fundamentals
Objective:
To understand the concept of starting a business on a minimal budget and grasp essential business ideation techniques.
Content:
– Definition: A $100 startup refers to the business practice of launching a business with an initial investment of $100 or less. This approach emphasizes creativity, resourcefulness, and the ability to leverage existing skills and assets.
– Key Concepts:
– Lean startup methodology.
– Identifying market gaps.
– Bootstrapping basics.
Resources:
– Article: [“The Case for the $100 Business”](archive.chrisguillebeau.com/the-case-for-the-100-business/)
– Video: [10 Small Business Ideas YOU can start under $100](https://www.youtube.com/watch?v=Fhe0advzlzo)
Key Takeaways:
– A $100 startup is feasible with careful planning and a strategic approach.
– Understanding market needs is crucial in overcoming financial limitations.
– Creativity and leveraging personal skills can compensate for low investment.
Activity:
Reflect on a skill or hobby you have. Write a short paragraph on how you could turn it into a business with just $100.
—
Lesson 2: Practical Application & Techniques
Objective:
Learn practical ways to implement business ideas and the importance of cost-effective techniques.
Content:
– Techniques:
– Prioritizing low-cost marketing strategies.
– Networking and building a support system.
– Efficient budgeting and resource allocation.
Resources:
– Article: [“100 Businesses You Can Start With Less Than $100”](www.entrepreneur.com/starting-a-business/100-businesses-you-can-start-with-less-than-100/299327)
– Video: [4 steps to start a business anyone can do](https://www.youtube.com/watch?v=PbdRNHjl8WU)
Key Takeaways:
– Marketing doesn’t have to be expensive; leverage social media and word-of-mouth.
– Building relationships is key for cost-effective support and growth.
– Careful financial planning is crucial to maximize limited resources.
Activity:
Draft a simple budget for your business idea, incorporating cost-effective marketing strategies.
—
Lesson 3: Advanced Insights & Mastery
Objective:
To explore advanced strategies for scaling a $100 startup and ensuring its sustainability.
Content:
– Advanced Concepts:
– Scaling through reinvestment.
– Diversifying product/service offerings.
– Sustainability practices and adapting to changes.
Resources:
– Article: [“Start a Business For Under $100 | Here’s 50 Ideas”](www.zenbusiness.com/blog/50-self-employed-business-ideas-can-start-100/)
– Video: [6 Businesses That Rarely Fail](https://www.youtube.com/watch?v=s4UkCaf_scs)
Key Takeaways:
– Sustainable practices can lead to long-term growth.
– Continuous reinvestment is essential for scaling operations.
– Flexibility and innovation are necessary to adapt to market changes.
Activity:
Create a plan outlining the first three steps you would take to scale your business beyond its initial phase.
—
Assessment
1. What is the primary advantage of starting a $100 business?
– A) High initial profits
– B) Low financial risk
– C) Fast establishment
– D) Guaranteed success
– Answer: B) Low financial risk
2. Which of the following is NOT a key concept in Lesson 1?
– A) Market gaps
– B) Bootstrapping
– C) Franchise purchase
– D) Lean startups
– Answer: C) Franchise purchase
3. Why is networking important in a $100 startup strategy?
– A) To hire more employees
– B) To have luxury office spaces
– C) For cost-effective support and growth
– D) For expensive advertising
– Answer: C) For cost-effective support and growth
4. How can sustainability contribute to long-term growth in a startup?
– A) Increases short-term profits
– B) Reduces reliance on technology
– C) Allows for responsible scaling
– D) Eliminates all competition
– Answer: C) Allows for responsible scaling
—
Category: Financial Literacy
