Thinking Like an Entrepreneur

Warm-up Activity

Students look at a picture of a small business owner and discuss what entrepreneurs do.

1. Do you know anyone who has their own business?
2. What kind of business would you like to start?
3. Why do some people want to work for themselves?
4. What problems can a new business have?
5. Is money the most important thing in business? Why?

Reading Text: Amina's Small Business

Read about Amina, a young entrepreneur, and her journey starting a business.

Amina is a young entrepreneur from a small town. She always had many ideas, but she did not know how to use them. One day, she saw an opportunity: people in her town wanted fresh food delivered quickly. So she decided to start a delivery service.

However, starting a business was not easy. Amina had to take a big risk because she used all her savings. Although her family worried about her, she believed in her idea. She said, 'If I don't try, I will never know.'

First, Amina had to invest in a small van and some boxes. She also spent money on a phone app, so customers could order easily. Because she planned carefully, she did not waste her money on things she did not need.

In the first month, the business made very little profit. However, Amina did not give up. She worked long hours and asked customers for feedback. Although the days were hard, she slowly found more customers.

After one year, Amina's business started to make a real profit. She hired two workers, so she could rest more. Today, she says the risk was worth it. Her story shows that entrepreneurs need courage, good planning, and patience.

Key Vocabulary

Vocabulary Check

1. What does 'opportunity' mean?
   • A problem you must solve
   • A chance to do something good
   • Money you earn from work
   • A plan for the future
2. Which sentence uses 'profit' correctly?
   • She made a profit by selling more than she spent.
   • He made a profit when he lost all his money.
   • The profit was very sad yesterday.
   • I profit my homework every evening.
3. In which situation would you use the word 'risk'?
   • When you are sure nothing bad can happen
   • When you do something that might fail
   • When you count your money
   • When you finish your work early
4. What does it mean to 'invest' money?
   • To give money to a friend for free
   • To spend money on clothes and food
   • To put money into something to earn more later
   • To hide money under your bed
5. Who is an 'entrepreneur'?
   • Someone who works in a big company as an employee
   • Someone who starts and runs their own business
   • Someone who teaches business at university
   • Someone who counts money in a bank

Fill in the Blanks

Marco wanted to become an _____ and open a coffee shop in his city. He saw a good _____ because there was no coffee shop near the university. First, he decided to _____ his savings in a small place near the campus. His friends said it was a _____ because many cafes fail in the first year. However, after six months, the shop started to make a _____, and Marco was very happy.

Word bank: entrepreneur, opportunity, invest, risk, profit

Discussion Questions

1. Would you like to start your own business one day? Why or why not?
2. What is the biggest risk of starting a business? How can entrepreneurs reduce this risk?
3. If you had a business idea, would you invest your savings or borrow money? Explain your choice.
4. Can you think of an opportunity in your town or country that a small business could use? Describe it.
5. Do you think entrepreneurs should care more about profit or about helping people? Why?

Knowledge Check

1. What do we call the money a business earns after paying its costs?
   • Risk
   • Profit
   • Opportunity
   • Investment
2. True or false: When you invest money, you always get more money back.
   • True
   • False
3. Which word means 'a chance to do something good'?
   • Risk
   • Profit
   • Opportunity
   • Loss
4. True or false: An entrepreneur usually works for someone else's company.
   • True
   • False
5. Amina used all her savings to start her delivery business. This was a ___.
   • Profit
   • Opportunity
   • Risk
   • Salary