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Math Videos 43 videos

Math 5: Researching Business Needs
11 Views

Want to start your own business one day? Then this video is a must-watch. If you're just planning to keep working at Wendy's forever, then move along.

Math 5: What is Profit?
22 Views

If you know your earnings, and you know how much you've spent, how do you calculate your profit? That's right - you hire an accountant. (Or, if you...

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Math 5: Creating a Plan Book 6 Views


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Description:

So you want to start a pet chicken business... We can't say we understand, but we can help you get it off the ground. The perfect plan is just one cluck, er, click away.

Language:
English Language

Transcript

00:14

we have learned a lot about running a business in this unit so much

00:17

that it feels like a bit too much after all with all those facts piled up in [mans brain filled with lots of facts]

00:21

your brain you might be thinking what if my head explode or is that just us no

00:26

one else worries about that okay well that's cool neither do we that would be

00:31

weird but just in case let's summarize some of this knowledge in an easy to use [a business plan book placed on an office table]

00:36

an non exploding plan book this plan book will help take us step-by-step from the

00:41

humble beginnings of a business as a mere idea to the planning it would take [a woman sitting at a bus stop thinking about chickens]

00:45

to make it a money-making machine at least five years in the future if you're

00:49

not that into planning you can stick with a simpler plan ignore your business [a man driving a Ford car]

00:53

idea and go get some pizza a delicious plan you betcha but you probably won't

00:58

be making too much dough from it though you will be consuming a lot of dough [a man looking very full from eating pizza]

01:02

anyway if you want to make money then let's get started on our plan book step

01:06

1 figure out the purpose of your business this is the cornerstone of your

01:10

plan because once you know what your business is supposed to do it becomes a

01:14

lot easier to make decisions about how to move forward for example if you want

01:17

[chickens roaming around together] to start a business that raises pet chicken maybe you shouldn't buy a few

01:21

hundred foxes to roam the halls just a thought at this stage you'll also want

01:25

to choose a name for your business hopefully something recognizable and

01:28

catchy why because fowl friends is a lot more likely to get your customers than [people standing outside the fowl friends store]

01:32

unnamed corporation number 527 next it's time to figure out the expected

01:37

expenses sales and profit in your businesses first year by nailing down

01:41

how much it costs to run your business it'll be easier to tell how much you

01:45

will need to charge and sell in that crucial first year and since profit is [book detailing step three of planning a business]

01:49

sales minus expenses you should have a good idea of how much money will come

01:53

rolling in so if those chicks cost you three bucks each maybe don't sell them

01:58

for two dollars a head unless you really like losing money for some weird reason [a yellow sales minus expenses note with chickens roaming]

02:02

after that it's time to think about the semi distant future by figuring out the

02:07

projected profits for your first five years depending on your business this

02:11

might include various increases decreases of profits year to year so [graph of projected profits in future years]

02:15

you'll probably need to dust off an old mathematical tool fractions just make

02:19

sure you sneeze away from the fractions politeness and hygiene are both very [a man sneezing in front of himself]

02:24

important Plus once you know the expected profit from years 1 through 5

02:28

you can add them all up to find your total profits for the first 5 years

02:31

hopefully it's pretty high no one wants to spend five you're surrounded by [a woman sitting near chickens with a huge pile of cash behind her]

02:34

squawking birds for nothing

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