:: Profit for Dummies - Part 1 ::

Sorry to patronize but as I meet so many that have forgotten. Here are the very basics of turning a profit.

Rules:

The company is to produce a product or service costing X.

The company is to sell the product or service for the price of Y.

Y has to be bigger than X.

Tips and Tricks:

A. People tend to forget which should be bigger X or Y. To help you remember use the location of the letters in the alphabet.

B. Some people who find investors money in their bank account think it has something to do with Y. Don't.

C. X has to be as small as possible. There is no way to explain this intuitively so you just have to accept the fact that if it is relatively small it will be easier to statistically find larger values to associate with Y.

To be continued.

Wadi Writer #1 (Gray )

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