{"id":3006,"date":"2023-02-19T16:11:17","date_gmt":"2023-02-19T16:11:17","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-8-4-how-to-start-a-business\/"},"modified":"2023-07-21T18:33:15","modified_gmt":"2023-07-21T18:33:15","slug":"apply-it-8-4-how-to-start-a-business","status":"publish","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/chapter\/apply-it-8-4-how-to-start-a-business\/","title":{"raw":"Apply It 8.4: How to Start a Business","rendered":"Apply It 8.4: How to Start a Business"},"content":{"raw":"<section class=\"textbox learningGoals\">\r\n<ul>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the steps to follow for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the steps to follow for starting a business<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the steps necessary for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the steps necessary for starting a business<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the components of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the components of a business plan<\/span><\/li>\r\n \t<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand each component of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand each component of a business plan<\/span><\/li>\r\n<\/ul>\r\n<\/section><section class=\"textbox example\">\r\n<h2>Girl Scout Cookies<\/h2>\r\nHave you eaten, bought, sold, or seen Girl Scout Cookies? Every Girl Scout learns entrepreneurial skills when they participate in the annual Cookie Sale. As part of the activity, each Girl Scout begins with a plan. If your business involved selling limited edition cookies, what would your business plan include? How would you crush the competition?\r\n[reveal-answer q=\"159902\"]Click to Show Sample Answer[\/reveal-answer]\r\n[hidden-answer a=\"159902\"]In addition to addressing the components of a business plan, you would probably want to do some creative thinking, like this <a href=\"https:\/\/www.smithsonianmag.com\/smart-news\/smart-business-plan-selling-girlscouts-cookies-outside-medical-marijuana-dispensaries-180949862\/\">Girl Scout who set up sales outside of a marijuana dispensary in San Francisco<\/a> and sold out her stock in 45 minutes![\/hidden-answer]\r\n\r\n[embed]https:\/\/www.youtube.com\/watch?v=BXZrYzadoLk[\/embed]\r\n\r\nYou can view the <a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/HowGirlScouts800MillionCookieEmpireWorks.html\" target=\"_blank\" rel=\"noopener\">transcript for \u201cHow Girl Scouts\u2019 $800 Million Cookie Empire Works\u201d here (opens in new window).<\/a>\r\n\r\n<\/section>","rendered":"<section class=\"textbox learningGoals\">\n<ul>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the steps to follow for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the steps to follow for starting a business<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand the steps necessary for starting a business&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand the steps necessary for starting a business<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;List the components of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">List the components of a business plan<\/span><\/li>\n<li><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Understand each component of a business plan&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15233,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:0,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:10}\">Understand each component of a business plan<\/span><\/li>\n<\/ul>\n<\/section>\n<section class=\"textbox example\">\n<h2>Girl Scout Cookies<\/h2>\n<p>Have you eaten, bought, sold, or seen Girl Scout Cookies? Every Girl Scout learns entrepreneurial skills when they participate in the annual Cookie Sale. As part of the activity, each Girl Scout begins with a plan. If your business involved selling limited edition cookies, what would your business plan include? How would you crush the competition?<\/p>\n<div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q159902\">Click to Show Sample Answer<\/button><\/p>\n<div id=\"q159902\" class=\"hidden-answer\" style=\"display: none\">In addition to addressing the components of a business plan, you would probably want to do some creative thinking, like this <a href=\"https:\/\/www.smithsonianmag.com\/smart-news\/smart-business-plan-selling-girlscouts-cookies-outside-medical-marijuana-dispensaries-180949862\/\">Girl Scout who set up sales outside of a marijuana dispensary in San Francisco<\/a> and sold out her stock in 45 minutes!<\/div>\n<\/div>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Behind the $800 Million Girl Scout Cookie Empire | WSJ The Economics Of\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/BXZrYzadoLk?feature=oembed&#38;rel=0\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>You can view the <a href=\"https:\/\/course-building.s3.us-west-2.amazonaws.com\/Intro+to+Business\/transcripts\/HowGirlScouts800MillionCookieEmpireWorks.html\" target=\"_blank\" rel=\"noopener\">transcript for \u201cHow Girl Scouts\u2019 $800 Million Cookie Empire Works\u201d here (opens in new window).<\/a><\/p>\n<\/section>\n","protected":false},"author":21,"menu_order":23,"template":"","meta":{"_candela_citation":"[{\"type\":\"copyrighted_video\",\"description\":\"How Girl Scoutsu2019 $800 Million Cookie Empire Works\",\"author\":\"\",\"organization\":\"Wall Street Journal\",\"url\":\"https:\/\/www.youtube.com\/watch?v=BXZrYzadoLk\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"}]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":2981,"module-header":"apply_it","content_attributions":[{"type":"copyrighted_video","description":"How Girl Scoutsu2019 $800 Million Cookie Empire Works","author":"","organization":"Wall Street Journal","url":"https:\/\/www.youtube.com\/watch?v=BXZrYzadoLk","project":"","license":"arr","license_terms":"Standard YouTube License"}],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3006"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/users\/21"}],"version-history":[{"count":7,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3006\/revisions"}],"predecessor-version":[{"id":7480,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3006\/revisions\/7480"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/2981"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/3006\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/media?parent=3006"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=3006"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=3006"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/introductiontobusiness\/wp-json\/wp\/v2\/license?post=3006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}