by jonathan anderson director standing rock sioux tribe entrepreneurial center
TRANSCRIPT
By Jonathan AndersonBy Jonathan AndersonDirector Standing RockDirector Standing RockSioux Tribe Entrepreneurial CenterSioux Tribe Entrepreneurial Center
How do we determine who wins a baseball game?
How do we determine who wins a basketball game?
How do we determine who wins in business?
How do we determine who wins a baseball game?
The team that scores the most runs
How do we determine who wins a basketball game?
How do we determine who wins in business?
How do we determine who wins a baseball game?
The team that scores the most runs
How do we determine who wins a basketball game?
The team that scores the most baskets
How do we determine who wins in business?
How do we determine who wins a baseball game?
The team that scores the most runs How do we determine who wins a basketball game?
The team that scores the most baskets
How do we determine who wins in business?
The team that can make a profit and stay in business
People who need or want products produced
People who need or want services provided
People who need a problem solved
Have basic needs: food, clothing shelter and transportation
Have wants: health care that exceeds “grandma’s remedies,” toys, vacations, entertainment, social contact
Have limited resources: salaries, wages, profits, other income sources
The customer trades his/her skills, abilities and work time for a salary
The customer gets basic needs, wants and problems solved by trading money for products, services and problem solutions that meet these basic needs, wants and problem solutions
The customer worked hard to earn her salary
The customer wants a calculator Jonathan, the business owner (store)
has a calculator that The Customer wants
Jonathan has priced the calculator at $4.00
The customer pays Jonathan $4.00 for the calculator
The trade has been made: The Customer traded $4.00 to Jonathan for a calculator
Jonathan now has $4.00 and The Customer has a calculator
Jonathan has to pay the supplier $2.00. The Supplier manufactured the calculator and sold it to Jonathan for $2.00
Jonathan has $2.00 left after paying The Supplier
With the $2.00 Jonathan needs to pay his Operating Costs-rent, utilities, wages, insurance, etc.
These Operating Costs are $1.00
Jonathan has $1.00 left which is his profit
With this profit, Jonathan is now a customer who will buy products and services and problem solutions that meet his basic needs and wants
Jonathan needs to sell enough calculators to have enough profit to be able to buy products and services that meet his needs and wants.
Be your own boss Be able to make your own decisions Not be dependent on someone else
like an employer, etc. in determining how well you do
Opportunity to be rewarded for making good decisions
Good income means opportunity to make a positive difference in community