The Growing Stack helps us improve and get better!
Ways to use this stack
1. Buy supplies for your business
2. Learn something new
3. Get better at a skill you already have
Starting a Business
Starting a business is hard work but also fun! Learn some common terms and use the calculator to figure out your profit.
COMMON BUSINESS TERMS TO KNOW
Revenue: How much you make or get paid for the service or product you are selling.
Expenses: Items you pay for to keep your business running smoothly.
Profit: What you get to keep after you have paid for all expenses related to your business.
Loss: When your expenses are more than your revenue, which means you spent more money to keep your business running than the money you received for your service or product. This is normal for new businesses!
Salary/wages: What you pay to people who work for you (that can also include you, the owner!)
Supplies: The items you need to make your product or perform your service.
Taxes: Part of your revenue that is paid to the government to help run the country.
Advertising: A way to tell people about your business so that they can use your product or service.
Product: A physical item that your business sells. An example of a product is selling lemonade; lemonade is the product.
Service: An action that you perform for a customer in exchange for payment. An example of a service is washing a car, or babysitting.
Your business has a profit of
A negative number means your business has a loss.