Starting a Business
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I can teach you three things about business. The first is that your business idea would ideally be based on a product that you think is a scarcity.
So, I was thinking of starting a business and I though that I should meet with an adviser to learn more about it.
You also need to be aware of opportunity cost when running a business. When you make a choice between two options in business, you are losing the possible gain from the other option.
And lastly, incentives are very important. They encourage customers to act the way you want. Examples would be coupons, sales, discounts, etc.
Thank you for all the information, I'll be sure to consider this when I start my business.
A woman reaches out to an adviser to learn more about starting a business. The adviser decides to teach her three important things about business. One of them is about scarcity.
She explains that another important point is opportunity cost.
She also explains the importance of incentives in business.
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