Life Skills
Business & Entrepreneurship
Finding customers, pricing, marketing, funding and launching a business of your own.
- 10 chapters
- 30 lessons
- All free
Chapters
1
Business and Entrepreneurial Thinking
Explore business and entrepreneurial thinking through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 1.1What Businesses DoA business coordinates people and resources to serve customers. Start by identifying what it provides and who benefits, rather than assuming every organization works the same way.
- 1.2Finding Problems Worth SolvingAn opportunity begins with a problem worth solving. An exciting idea still needs evidence that someone values the solution enough to use or pay for it.
- 1.3Making Decisions Under UncertaintyStarting a venture means making decisions with incomplete information. Experiment, learn, and protect the resources you cannot afford to lose.
2
Customers and Markets
Explore customers and markets through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 2.1Customer Interviews and ObservationCustomer discovery asks about actual behavior, not just compliments. A friendly response is weaker evidence than a documented need or a meaningful commitment.
- 2.2Segments and Market ValidationA market is not everyone who could possibly see an advertisement. Define the customer group, the need, and the conditions of purchase.
- 2.3Competition and PositioningCompetition includes substitutes and doing nothing, not just firms with the same label. Compare the customer's options fairly.
3
Business Models and Experiments
Explore business models and experiments through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 3.1How Business Models WorkA business model explains how value is provided and how the operation can sustain itself. A product idea alone does not answer those questions.
- 3.2Revenue ModelsDifferent revenue models place different obligations on a venture. A recurring charge needs recurring value, while a commission depends on transactions actually happening.
- 3.3Prototypes and Minimum Viable ProductsA small prototype tests a question. Keep its purpose clear: it should reveal whether an important assumption is right, not merely look impressive.
4
Pricing and Financial Foundations
Explore pricing and financial foundations through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 4.1Pricing and ValuePrice, value, and cost are related but different. A price must be assessed alongside customer choices, delivery costs, and the assumptions behind the comparison.
- 4.2Costs, Contribution, and Break-EvenProfit is not the same as sales. Count the costs included in the calculation, and distinguish the cost of one more unit from the average across all units.
- 4.3Understanding Financial StatementsFinancial statements answer different questions. A profitable operation can still run short of cash if payments and obligations arrive at different times.
5
Operations and Customer Experience
Explore operations and customer experience through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 5.1Capacity and BottlenecksOperations turn promises into actual delivery. Map the steps, inputs, and handoffs so problems can be measured and improved.
- 5.2Suppliers and InventoryInventory and suppliers connect current work with future demand. Holding more stock can reduce some shortages while increasing cost and other risks.
- 5.3Quality and Customer FeedbackQuality means meeting defined requirements consistently, not merely using an expensive material. Customer feedback helps identify which failures matter.
6
Marketing and Sales
Explore marketing and sales through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 6.1Brands and Customer JourneysMarketing identifies customers and communicates relevant value. Strong marketing also checks whether the offering genuinely serves the need being advertised.
- 6.2Acquisition, Retention, and Marketing EvidenceA marketing number needs a definition and denominator. Many views do not automatically mean profitable customers, and a correlation is not proof that a campaign caused a sale.
- 6.3Sales and NegotiationSales helps a customer evaluate and complete an exchange. Listening and clear terms matter more than pressure that hides the customer's alternatives.
7
People and Technology
Explore people and technology through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 7.1Teams and LeadershipA team needs roles and coordination, not just a list of names. Leadership includes listening, accountability, and decisions that fit the situation.
- 7.2Hiring, Training, and FairnessEmployment arrangements have practical and legal consequences. A classroom example can compare roles, but actual classification requires current jurisdiction-specific rules.
- 7.3Data, Technology, and SecurityInformation is part of operations. Collect only what the task needs, protect it, and check whether a useful-looking tool produces reliable results.
8
Funding and Managing Risk
Explore funding and managing risk through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 8.1Debt, Equity, and Funding ChoicesFunding is not free money. Compare ownership, repayment, conditions, and what happens if the venture performs worse than expected.
- 8.2Cash Forecasts and RunwayCash planning follows when money arrives and leaves. A sales forecast should show its assumptions, especially before hiring or borrowing depends on it.
- 8.3Risk and Business ContinuityRisk management prioritizes threats and responses. Insurance covers specified conditions, while prevention and recovery planning address other parts of the problem.
9
Responsible Business
Explore responsible business through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 9.1Business Structures and GovernanceBusiness structures divide responsibilities and ownership in different ways. Names alone do not determine the rights, taxes, or protections in a particular place.
- 9.2Contracts and Intellectual PropertyIntellectual property and agreements protect some interests through specific rules. A classroom definition is not a determination that a particular use is permitted.
- 9.3Ethics and SustainabilityResponsible business evaluates effects on customers, workers, communities, and the environment. A promotional label needs evidence about actual practices.
10
Building and Launching a Venture
Explore building and launching a venture through explanations, original examples, concept flashcards, and section-linked practice.
3 lessons
- 10.1Scaling and Unit EconomicsGrowth adds complexity as well as sales. Test whether the operation can deliver consistently before assuming a larger audience produces a sustainable business.
- 10.2Business Plans and PitchesA business plan makes the venture's reasoning reviewable. A persuasive pitch should state evidence, assumptions, and risks rather than replace them with confidence.
- 10.3Launching, Measuring, and ImprovingA launch is the beginning of testing in real conditions. Define what you will measure, how feedback will change the plan, and when you should stop or revise.