The goal of any businessman is to have a profitable business. In order to build such a business, you need to know what profit is inherently. Like everything is clear here-profit is a positive difference between income and costs of production or acquisition and sale of goods and services. Accordingly, if you want to make a profit, you need to increase this difference.
How to build a profitable business
But if you increase the difference, it may happen that no one will buy anything at all. Why? Because in reality, profit is the difference between the cost of producing or purchasing and marketing goods or services and the value of those goods and services. Continue reading