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Value is the core of any business, and it directs all future decisions, innovations, and customers that get targeted.
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In business, growth basically means making a company more successful in some way: finding a new revenue stream, revamping the cost structure to minimize expenses and increase profit, or adding new people and knowledge to the team.
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Honestly, "spreadsheets" are kind of the vegetables of the business world -- the very idea of them makes some people queasy. But that's ok! They can be intimidating, but they're not impossible to understand.
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So we've learned a lot of strategies to fight off failure. But we could be doing all this right and still fail if we straight-up run out of money.
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We're used to competitions with clear winners and losers: baseball games, math olympiads, pie-eating contests, and games involving thrones. We crown a victor and everyone else goes home empty-handed!
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Profit, revenue, income, assets, cash flow -- all these words mean money, but they all have specific uses. In business, money is important to us and we want to describe it as accurately as possible.
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It can be hard to strike the right tone or know what's going to appeal to someone, but there are tricks. We can craft a narrative and use well-placed emotional appeals to tell customers a story.
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This episode is near the end of this series, but entrepreneurship isn't a linear journey. You might need funding to accomplish any of the steps to build a business, not just when you're ready to take a product or service to market.
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So, where do ideas come from? And what do you do with them once you have them? In this episode of Crash Course Entrepreneurship, Anna helps to answer these questions (and more) as we figure out what we need to do to launch our business.
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When someone says they're "studying business" or they "work in business," they could mean so many different things. They could be in marketing, sales, finance or human resources. So much goes into keeping a company running smoothly.
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Like any committed relationship, the relationship between a business and its customers needs nurturing. And that shouldn't come as a surprise! We need customers to run a successful business, and naturally they're going to have certain expectations
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No business, no matter how innovative and amazing it is, will survive if people haven't heard of it. If people don't know something exists, they'll never be able to purchase it. It's time to work on our communication skills.
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