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Learning from Failure

CONCEPTUAL
Life Skills›Entrepreneurship|Ages 7—9|ID: mt_dknMcCqvoY

Not every business idea works; entrepreneurs try, fail, learn, and try again; iteration and resilience as core entrepreneurial skills; famous failure-to-success stories

Mastery Evidence

  • Give an example of a famous entrepreneur who failed before succeeding
  • Explain what they would do differently if a business idea didn't work the first time
  • Describe why failing and trying again is better than giving up

Assessment Prompt

“If [child]'s first attempt at a project or business idea didn't work out, would they see it as a chance to improve rather than a reason to give up?”

Prerequisites2

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  • Making a Simple Plan soft

    Having planned and tried makes failure a meaningful learning experience

    • Budgeting Pocket Money soft

      Cross-domain: budgeting pocket money (Money & Finance) provides planning foundation

      • Needs & Wants hard

        Must understand needs vs wants to make budget trade-offs

        • What Money Is hard

          Must understand money exists and is limited before distinguishing needs from wants

      • Buying Things soft

        Buying experience helps with realistic budgeting

        • Coins & Notes hard

          Must recognise coins/notes and their values before practising buying transactions

          • Coin Values soft

            Curriculum coins/notes recognition (Maths Y1) underpins exploratory coin knowledge

            • Reading and writing numbers to 20 hard

              Recognising coin values requires reading numerals (1, 2, 5, 10, 20, 50)

              • How Many in Total? hard

                Reading/writing numerals 0–20 requires understanding that numerals represent quantities (cardinality)

                • One-to-one counting hard

                  Cardinality principle builds on one-to-one correspondence — you must count correctly to know the last number tells 'how many'

              • Writing digits 0-9 hard

                Writing numerals requires the motor skill of forming digits 0-9 (taught in English handwriting)

          • What Money Is hard

            Must understand what money is before learning to recognise specific coins and notes

        • What Money Is hard

          Must understand money as exchange medium before practising transactions

      • Saving Money hard

        Must understand saving concept before budgeting a fixed amount

        • Needs & Wants soft

          Understanding needs vs wants helps motivate saving decisions

          • What Money Is hard

            Must understand money exists and is limited before distinguishing needs from wants

        • What Money Is hard

          Must understand what money is before learning to save it

    • Having a Business Idea hard

      Must have a business idea before making a plan for it

      • Making Something to Sell hard

        Must have experience making something to sell before generating business ideas

        • Needs & Wants soft

          Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable

          • What Money Is hard

            Must understand money exists and is limited before distinguishing needs from wants

        • Goods & Services hard

          Must know what goods are before creating a product to sell

        • Buyers & Sellers hard

          Must understand exchange before making something to sell

          • Goods & Services hard

            Must understand goods and services before grasping buying and selling

          • What Money Is soft

            Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

      • Who Is a Customer? hard

        Must understand customers before spotting problems to solve for them

        • Making Something to Sell soft

          Making a product helps understand what customers want

          • Needs & Wants soft

            Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable

            • What Money Is hard

              Must understand money exists and is limited before distinguishing needs from wants

          • Goods & Services hard

            Must know what goods are before creating a product to sell

          • Buyers & Sellers hard

            Must understand exchange before making something to sell

            • Goods & Services hard

              Must understand goods and services before grasping buying and selling

            • What Money Is soft

              Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

        • Buyers & Sellers hard

          Must understand buyers and sellers before exploring customer concept in depth

          • Goods & Services hard

            Must understand goods and services before grasping buying and selling

          • What Money Is soft

            Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

  • Having a Business Idea hard

    Must have tried generating ideas before learning that ideas can fail

    • Making Something to Sell hard

      Must have experience making something to sell before generating business ideas

      • Needs & Wants soft

        Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable

        • What Money Is hard

          Must understand money exists and is limited before distinguishing needs from wants

      • Goods & Services hard

        Must know what goods are before creating a product to sell

      • Buyers & Sellers hard

        Must understand exchange before making something to sell

        • Goods & Services hard

          Must understand goods and services before grasping buying and selling

        • What Money Is soft

          Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

    • Who Is a Customer? hard

      Must understand customers before spotting problems to solve for them

      • Making Something to Sell soft

        Making a product helps understand what customers want

        • Needs & Wants soft

          Cross-domain: needs vs wants (Money & Finance) helps understand what makes a product desirable

          • What Money Is hard

            Must understand money exists and is limited before distinguishing needs from wants

        • Goods & Services hard

          Must know what goods are before creating a product to sell

        • Buyers & Sellers hard

          Must understand exchange before making something to sell

          • Goods & Services hard

            Must understand goods and services before grasping buying and selling

          • What Money Is soft

            Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

      • Buyers & Sellers hard

        Must understand buyers and sellers before exploring customer concept in depth

        • Goods & Services hard

          Must understand goods and services before grasping buying and selling

        • What Money Is soft

          Cross-domain: understanding what money is (Money & Finance) supports grasping exchange

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