Course complete

Key takeaways

• Count every cost, including your time and a share of fixed costs.
• Markup is profit ÷ cost; margin is profit ÷ price.
• Price for a target margin with cost ÷ (1 − margin).
• Break-even = fixed costs ÷ (price − variable cost per unit).
• Use costs to find the minimum, competitors to see the range and value to decide.

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