TODAY’S CHALLENGE
A business exists through the exchange of value.
Key to business success is creating, delivering and capturing value through your business model.
Terms found in video: *K53 – This is a practical driving test to determine the ability of aspirant motor vehicle drivers and motorcycle riders.
WANT TO LEARN MORE?
If you find that your costs are outweighing your income, or you’re making very little profit, you’ll need to revise your pricing strategy. You could increase your prices, try decreasing your costs of sales, or work on increasing your sales.
Think about what your customers are willing to pay. Speak to potential customers, compare what you’re going to charge with what your competitors are offering, and always think about ways to create, deliver and capture value most effectively.
Launch with Tech Tip
It’s a good idea to diversify your revenue streams so that you’re not reliant on only one way to generate income.
What other ways can you think of to bring more money into your business in a fair, honest and sustainable way?
