Table of Contents

Introduction: Entrepreneurship .................................................................................................... 2

Step 1: Come up with an idea that has a low startup cost ............................................................. 3
Step 2: Calculate startup cost ........................................................................................................ 4
Step 3: Identify location for business to take advantage of inexpensive marketing ..................... 5
Step 4: Make your product ............................................................................................................ 6
Step 5: Establish an attractive price for your product ................................................................... 7
Step 6: Sell! Sell! Sell! .................................................................................................................. 8
Step 7: Calculate Net Profit: Gross Profit Expenses = Net Profit .............................................. 9
Step 8: Invest into business ......................................................................................................... 10
Step 9: Expansion ........................................................................................................................ 11
Step 10: Give back ...................................................................................................................... 12
Conclusion................................................................................................................................... 12

Introduction: Entrepreneurship
An entrepreneur is someone who creates and manages a business while taking on a
considerable amount of risk. The power of entrepreneurship has been used by
thousands of impoverished individuals just like yourselves. With immense passion
and drive, they were able to unleash the shackles of poverty through the pursuit of
being an entrepreneur, and creating their own businesses.
Entrepreneurship unleashes opportunities that would never be available in the
regular job market. It will allow you to take control of your own destiny, your own
decisions, and will give you satisfaction and confidence of knowing you own
something in this world you own your own business.
There are a few characteristics that can be found in most all successful
entrepreneurs. It is important to pay attention to these characteristics and attempt
to develop them in your own life. One of the most important, and perhaps the most
common, is having tenacity. I can promise you that building your own business
will not be easy by any means. It is critical that you possess a never-give-up
attitude when attempting to build your own business and become an entrepreneur.
The second characteristic is having passion. If you do not have a passion for the
business you are going to create, then you have already failed. Passion will
provide the motivation necessary to continue moving when you experience (and
yes you will experience) difficulties on the road to building a business. The final
characteristic, but certainly not the least, is having an innovative mindset. Being
able to adapt and find creative solutions to problems serves as a vital complement
to any entrepreneur. Possessing an innovative mindset will allow you to maneuver
around difficult business problems, and also take advantage of deficiencies in the
market. In other words, you will be better equipped to address problems in the
market that will produce profit.
*The following pages serve as a guide to create a hypothetical lemonade stand
business. This is not a concrete solution to escape poverty. This guide is an
educational tool for aspiring entrepreneurs wanting to break free from poverty. It
focuses on teaching basic business concepts that are important to learn before
embarking on your own entrepreneurial journey to start a new business.

To be clear, startup cost is the amount of capital (or money) needed to start
high. That is why it is important to identify needs in your community that w

Identify the cost needed to purchase the goods necessary to open

This might seem like a high startup cost for many of you, but it is

For a lemonade stand, it is important to set up shop where there i

your sales voice and lemonade stand sign. Word-of-mouth marke

Once you have identified a location for your lemonade stand that
to closely evaluate how much you might sell. Expansion may lead

Now it is time to identify the price you will sell a cup of lemonade

You have your lemonade ready, and your stand is setup in a popu

When the day is over, and you are finished selling your lemonade
made over twice the amount of money it cost you to open up bus

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You could either take this money and never open up another lemo

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As your lemonade stand continues earning profit, and you continu

more employees, to cause problems. By expanding your business

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When you have become successfully profitable in your business a

Conclusion
By having studied this step by step guide, you will have learned basic
business concepts such as calculating startup costs, establishing price
points, and investing in your business. Learning these concepts will be
instrumental to your success as you begin to open up your own business.
Continue studying the fundamentals of entrepreneurship to fine tune
your skills. As you continue your entrepreneur education, be sure to
teach others about these concepts. It will not only help educate others,
but will also solidify your own knowledge. And remember, take control
of your future by never giving up on your journey to become a
successful entrepreneur.

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