Episode 1: What is a Business?

The business is a game made with joy, after which we get money!

A business is a form of organization in which several people work and use resources to create a product or service to sell to customers. 

A business is successful when it increases profit (pwe spend more money than we spend), when the number of customers increases, when it has popularity, when the number of employees increases and when sales increase. 

The 4 essential elements to consider when building a business are:

• The product
• promotion
• placement 
• price

We will discuss each one in the next sessions! 

For the moment, however, we invite you to watch the following video and discover more about what a business is. 

Attention: the video is in English.

Continue the conversation with your child and help him better understand what business is all about. You can ask him the following questions: 

• What types of business did he see in the video?
• What resources does a business need?
• What businesses do you know? Can you give me examples of businesses that come to mind?
• Would you like to do business? What the? Why?

Do you want them to understand more about what a business is? Challenge your child to a direct experience.

The business in the picture – Invite your little entrepreneur to imagine what a business with a lemonade stand would look like. He can draw the business on a piece of paper and then tell you about it. You want to go to the next level, ask him to implement the plan made and open a terrace for you on the balcony or maybe in the living room. 

Did he forget to switch to his glasses plan? Of the juicer? Direct experience will help him learn.

The next episode appears on Friday, May 1, 2020.

#staytuned #do the Challenge #learn at home