Starting a Business
Updated: 2/9/2020
Starting a Business
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Storyboard Text

  • 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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