Businesses don’t make money on their own! In order to ensure you make profit, you must have a smart business model. One which fits your product, market, and costs. Which takes advantage of your strengths and accounts for your weaknesses. How do you come up with such a business plan? And if you already have a plan in place, how do you finetune it so that it’s even more perfect?
In this lesson, you’ll meet Bob the Baker. You’ll watch how his business grows from a simple bakery to a serious money making machine. And all thanks to his advanced understanding of business models...
In this lesson, we’ll learn: • How different business models work • How your business model must account for your costs • Different types of costs and how they fit into the picture
What is one reason why Bob the Baker might choose to RAISE his prices?