Course complete

Key takeaways

• A business creates value, delivers it, gets paid and manages money.
• Profit margin is profit ÷ revenue, and small price or cost changes can move it a lot.
• Fixed costs stay steady; variable costs rise and fall with sales.
• Sole proprietorships are simplest; corporations limit liability but add cost and paperwork.
• The Business Model Canvas describes any business on one page.

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