Pricing, Profit, and More Money

Front

What is revenue?

Back

Revenue is the money that you take in from customers.

Front

What are expenses?

Back

Expenses are your costs – all of the money you need to spend to be able to sell your product the night of the Marketplace.

Front

How do you calculate profit or loss?

Back

Revenue – Expenses = Profit or Loss

Front

What does it mean if revenue is greater than expenses?

Back

Revenue > Expenses = Profit

Front

What does it mean if revenue is less than expenses?

Back

Revenue < Expenses = Loss

Front

What does it mean to break even?

Back

Revenue = Expenses = Break even

Front

What is start-up money?

Back

Start-up money is the money you need to start your business.

Front

Who is an entrepreneur?

Back

An entrepreneur is a person who takes a vision and sees it through.

Front

What are goods?

Back

Goods are tangible items. Customers can touch and take home the goods that they purchase.

Front

What are the four I's in business innovation?

Back

INVENT something new, IMPROVE an existing product, INSPIRE with your talent, IMITATE a product you admire.