Back
Karunakar
1% Better • 9m
"The journey of a thousand miles begins with a single step." – Lao Tzu *What is a Business? A business is simply an activity or organization that provides goods or services to satisfy a need in exchange for money. But it all starts with one critical element: solving a problem or fulfilling a need. Story: Arjun's Lemonade Stand Arjun, a 12-year-old, noticed something on a hot summer day. People in his neighborhood were complaining about the scorching heat, but there were no cold drink stalls nearby. He thought, "What if I sell lemonade to these people? Everyone would love a cold drink, and I could earn some pocket money!" Step 1: Finding a Problem Arjun identified a problem: People were thirsty and hot, and there was no one selling cold drinks nearby. 👉 Lesson: Every business starts by solving a problem or meeting a need. Step 2: Creating a Solution Arjun's solution was simple: make fresh lemonade and sell it at a reasonable price. Step 3: Delivering Value Arjun realized that people would happily pay for his lemonade because it gave them relief from the heat. Step 4: Generating Revenue Arjun priced each glass of lemonade at ₹10. By the end of the day, he sold 50 glasses, earning ₹500! *Key Takeaways A business solves problems or meets needs. It provides value in exchange for money. The first step in starting a business is identifying a gap or opportunity in the market. Get business and basics like this in our Medium blog. https://medium.com/@FoundrBite
Replies (3)
More like this
Recommendations from Medial
Inovbiz Studio
Inspire. Innovate. S... • 6m
Business Tips #3 How to Find a Profitable Business Idea💡 ✅ Step 1: Identify a Problem – Successful businesses solve real problems. Look for pain points people face daily. ✅ Step 2: Validate the Demand – Use Google Trends, Reddit, or social media
See More
Download the medial app to read full posts, comements and news.