Profit = Total Revenue - Total Cost
Your Business by the Numbers will provide students with hands on experience in tracking sales, monitoring costs, and making a profit. First, you will play an online interactive game called The Lemonade Stand Game. You’ll learn how to create an excel spreadsheet to track costs and revenues. You will learn basic business management calculations, and then apply them to a project to estimate a business budget for a company in the book publishing industry.
Your Business by the Numbers will teach you how to set your price in such a way that you will know whether or not you will make money, and to test your price level by surveying your customers to be sure you are charging a reasonable price. Within this course, there are nine modules:
Module 1 The first session, Introduction, is designed to explain who can benefit by taking this course.
Module 2 Organizing Your Business Data focuses on the importance of organizing your cost and revenue data in order to track your business.
Module 3 Will You Make A Profit asks you to analyze the Lemonade Stand Game to discover what variables most impact profitability.
Module 4 Be Precise In Your Calculations asks you to make calculations to maximize profits.
Module 5 In the fifth session, Budgeting to Break Even, we introduce the concept of a cost driver. This allows us to construct a cost function, and determine our break even analysis.
Module 6 In the sixth session, Sales by the Numbers, we look at how the sales we make are connected to the profitability of the company.
Module 7 In the seventh session, Budgeting by the Numbers, we will look at how inventory is tracked in the business to see how to reduce costs and increase profits. In this module, we’ll apply what we have been learning in this course to run our business by the numbers.
Module 8 In the eighth session, Setting Your Price, we will look at how to incorporate a survey of your customers with calculations of your costs in order to set a price that lets you make a profit. We’ll examine how people make decisions to see how they decide to buy things.
Module 9 The ninth session, Next Steps, we summarize what has been learned in this course, and preview additional courses in the series available from Generation Self Employed.
Intended Audience: This course is designed for people who are serious about starting a business. The course was pilot tested with highschool age home school students for two years. But it can also be used for people who are retiring from one career but who wish to start up a part time business as a second career choice.