Entrepreneurship Basics
📋 What it is
An entrepreneur spots a need, offers a product or service, and earns profit = revenue (money in) minus costs (money out).
🗣️ Coach says
A business starts with a problem worth solving. The entrepreneur offers a fix people will pay for. The scoreboard is simple: profit = money coming IN minus money going OUT. Solve a real need cheaply enough, and you have a business.
🧠 Memory hook
Spot a need → offer a fix. Profit = revenue − costs.
😂 Giggle
Why did the price go up?
Because demand was pushing it around!
😲 Whoa!
Many huge companies started in a garage or bedroom — the first "office" of more than one famous business was literally someone’s home.
✅ Quick check: A lemonade stand takes in $20 and spent $8 on lemons and cups. What’s the profit, and how do you know?
Say your answer out loud first — then reveal.
$12 — profit is revenue ($20 in) minus costs ($8 out).
Profit = revenue − costs is the heartbeat of every business.
🧪 Try it! (2 minutes)
Invent a tiny business idea: what need does it solve, and what would it cost to start?