Unit 1: Chapter 3

In order for a business to succeed, it needs to stand out. If a business doesn’t stand out or doesn’t offer anything that other businesses do not, then it’s destined to fail. This is because, if your business doesn’t stand out, then customers will choose the cheapest option. Low cost can be a unique factor […]

Unit 1: Chapter 2

So, you’ve got your great business idea, and you’re ready to jump right in and make a bunch of important choices that will affect the long-term success of your business with no planning whatsoever. Hang on a minute, you might want to hold off on making the big choices until you have a solid plan. […]

Unit 1: Chapter 1

What is Entrepreneurship? This is a seemingly simple question, with a surprising amount of depth. Entrepreneurship is all around us in our daily lives, even if it might not seem obvious. Broken down to its core aspect, entrepreneurship is the art of selling products and/or services. Products are tangible goods, which can be measured, quantified, […]

Unit 5: Chapter 24

As you grow your business, you’ll want to start looking into the possibility of a partnership. A partnership is when two or more businesses work together for mutual gain. Partnerships can be very successful, think about how often you see restaurants or coffee shops in supermarkets. If you need something complicated done well, it can […]

Unit 5: Chapter 23

An important part of any business model is operations. Operations occur in practically every business. Simply put, operations are the day to day activities required to maintain a business. A business has many operations, the largest of which are usually dedicated to their own departments. This can be difficult when first starting a business, as […]

Unit 5: Chapter 22

While distribution chains are a large part of a business model, the resources required to actually operate a business are equally important. In business, the term “internal resource” means a supply of something that allows the business to function. There are many different types of resources, which serve a distinct yet similar purpose. Physical resources […]

Unit 5: Chapter 21

A term you will likely hear in business a lot is “Business Model”. What is a business model? Simply put, a business model is the structure of the actual business. The key to having a good business model is to be detailed. How will your product get in the hands of your customers? Where will […]

Unit 4: Chapter 20

In order to get people to buy your product or service, they have to know about it first. Promotion is a type of marketing with the goal to raise awareness of your product and convince customers to make a purchase. It’s important to educate the customer with promotion, if the customer is confused, or doesn’t […]

Unit 4: Chapter 19

A very important part of marketing is the means used to communicate with the customer. While marketing as a whole is meant to improve the appearance of your business, sales is the process of directly talking to customers about the benefits of your product or service. A sales force is a group of people who […]

Unit 4: Chapter 18

The term “Marketing” is a broad term, covering many things related to the public appearance of a business. At its core, marketing is improving the way that customers see your business. Marketing is an essential part of business, and is usually comprised of a team of employees. A good first step when it comes to […]

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