are in Italics
Fish & Wildlife Mgmt.
Model Design & Building
Pulp and Paper
Reptile & Amphibian Study
Small Boat Sailing
Soil & Water
- In your own words, define entrepreneurship.
Explain to your merit badge counselor the role of the entrepreneur in the
economy of the United States.
- Identify and interview an individual who has started
his or her own business. Find out how the entrepreneur got the idea for the
business and how the entrepreneur recognized it as a market opportunity. Find
out how the entrepreneur raised the capital (money) to start the business. How
well is the business doing? Report what you learn.
- Do the following:
- Write down as many ideas as you can think of for a
business. Get ideas from your family and friends. From your list, select
three ideas that you believe are the best opportunities for you.
- Explain to your counselor why you chose these three
ideas rather than the others on your list.
- For each of the three ideas that you chose, prepare
a list of questions that you would ask potential customers.
- For each of your three ideas, informally interview
potential customers, using the lists of questions from requirement 3(c).
Report what you learn.
- Using the information you have gathered, choose the
one idea that you feel is your best business opportunity.
- Conduct a feasibility study of your business idea by
doing all of the following (briefly writing or explaining each item to your
- Good or Service
- Identify your business goals. Tell how you will
make the good or perform the service.
- Determine whether it is technically feasible
(practical or doable).
- Determine how you can make enough of the goods or
provide enough of the service to meet your business goals. Explain how you
will accomplish this.
- Identify and describe the potential liability
risks of your good or service.
- Determine what type of license you might need in
order to sell or make your good or service.
- Determine who your customers are. Identify the
type of person who would buy your good or service.
- Describe the unique benefits of your good or
- Tell how you will promote and sell your good or
service to potential customers.
- If you are selling a good, determine how much it
will cost to make one prototype.
- Calculate the selling price of your good or
service. Explain how you determined the price.
- Tell how you will sell your good or service and
make a profit.
- Determine how much money you will need to start
your business. Explain how you will get the money.
- Determine what parts of the business you will
handle yourself. Describe your qualifications for the work. Determine how
your business responsibilities will fit into your schedule.
- Determine whether you will need additional help
to operate your business. If you will need help, describe the
qualifications your helpers should have and what duties they will perform.
- Do TWO of the following.
- Sketch a prototype of your good or write a
description of your service.
- Create the prototype. List all of the materials you
used to make your prototype. Calculate the cost of all the materials and
labor to compute the total cost of making your prototype.
- Design a promotional poster or flier for your good
- Project (estimate) your sales through the first
three months of operation. Calculate the profit you expect to make.
- When you believe that your business idea is feasible,
start your business. Show evidence that you started your business (sales
receipts, for example, or photos of the good). Report to your counselor the
results of your venture.