What is a business Flashcards
What is a business
A mutually beneficial value exchange between two people
Why do people spend money with buisnesses
Because they feel that they are getting the better end of the deal
What is a market
A market is a group of people who share a desire/ desires
How would a business perform well
By selling it’s product or service to a market that values the goods or services more than the value of their money
So how do you get more money
By providing as much value as possible to your market, so that their money is viewed as less valuable than your product or service
To provide value what do need to understand
Their want’s, desires, problems and pains.
Why is it important to know what a business is
If you don’t understand what a business is, how are you going to make money with it?
Example of a business in action
I sell a hungry man an apply for £1, he values the apple more than his £1 so he gives me it in exchange for the apple which i value more than the apple.
