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FINANCIAL LITERACY

Medal of Initiative

Turn a real idea into a real business. Students identify a problem, create a product or service, plan their finances, gather customer feedback, and complete a full sales cycle — all documented in their own voice.

56 daysAge 7–12Beginner
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82%
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Medal Requirements

Complete all requirements and check them off as you go. Your parent will verify your work.

1

Identify a Problem & Brainstorm Ideas

Observe your surroundings and identify a real problem that a product or service could solve. Brainstorm at least 3 ideas and choose your favourite with a written reason.

  • Think about problems you or your classmates face every day
  • Your idea does not need to be complicated — simple is great!
  • Write a "Driving Question": How can I make something people will love?
2

Write Your First Business Plan

Create a simple business plan naming your business, describing your product, identifying your customers, setting a price, and calculating your costs and profit goal.

  • Business name: make it memorable and relevant
  • Price = Cost + Profit. Make sure you cover your expenses!
  • Who are your customers? Be specific (classmates, neighbours, family)
3

Make Your Product & Document the Process

Create your product or prepare your service. Document the process with a photo diary — at least 3 photos showing your materials, the making process, and the finished result.

  • Take photos at each stage: before, during, and after
  • Write a short caption for each photo explaining what you are doing
  • Note any challenges you faced and how you solved them
4

Gather Customer Feedback

Give your product to at least 2 test customers for free. Ask them structured questions: What did you like? What could be better? Use their feedback to improve your product before selling.

  • Choose test customers who will give you honest feedback
  • Record their exact words — do not paraphrase
  • Make at least one change based on the feedback you receive
5

Sell & Track Your Sales

Create an advertisement (poster, flyer, or social media post) and sell your product or service. Record every sale in a sales ledger with the date, customer, item sold, and price.

  • Your advertisement should show the product, price, and how to buy
  • A sales ledger can be a simple table in a notebook or spreadsheet
  • Try to reach your sales goal — and celebrate if you exceed it!
6

Write Your Final Business Report

Calculate your final profit (Income − Expenses). Write a reflection covering: what you learned, what was hardest, what you would do differently, and what your next business idea might be.

  • Be honest about what went wrong — that is where the learning is!
  • Include your profit calculation clearly: Income − Expenses = Profit
  • What would you do differently next time? Show you are thinking ahead.
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