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Entrepreneurship, image, image, image, image, Kevin Rosero, Camila Ortiz,…
Entrepreneurship
Expenses
1.-Make a preliminary study of the market: the better you know the sector, the public, the incidents, the competition, etc. you will be better prepared for any unforeseen event and less surprises you will take.
An expense is an income or output of money that a person or company must pay to prove their right to an item or to receive a service. However, there are lumps and differences between the money that a person allocates and the money that a company allocates.
2.-Perform calculations for each stage: it is about establishing financing tranches for each stage of the project. For example, if you want to reach a goal in 6 or 12 months, set a specific money for it. This is intended to reduce the economic risk before launching the product or service; "minimal waste" philosophy.
3.-Propose several possible scenarios: these are things as basic as not venturing to put a price on the product without counting the price of the competition.
Costs
refers to the monetary value of the expenses of raw materials, equipment, supplies, services, labor, products, etc., that are used for the creation of the product or service.
A clear example of what refers to costs is the budget that is put on the main material of a company or business, such as: arina for a bakery, ink for a book, ingredients for a restaurant's food, etc.
Investment
An investment is your own money that is given to a company, either yours or someone else's, to help it, this investment can help in many ways, for example that money can be used to make the products.
For the investor the objective of the investment is to earn or make profit of any kind.
Income
Income is both the monetary and non-monetary elements that accumulate and that consequently generate a consumption-profit circle.
Kevin Rosero
Camila Ortiz
Alex Villacis
Alejandro Cadena
WHAT IS?.....INVESTMENT, COSTS, EXPENSES and INCOME
