By Jonathan AndersonBy Jonathan AndersonDirector Standing RockDirector Standing RockSioux Tribe Entrepreneurial CenterSioux Tribe Entrepreneurial Center

How do we determine who wins a baseball game?

How do we determine who wins a basketball game?

How do we determine who wins in business?

How do we determine who wins a baseball game?

The team that scores the most runs

How do we determine who wins a basketball game?

How do we determine who wins in business?

How do we determine who wins a baseball game?

The team that scores the most runs

How do we determine who wins a basketball game?

The team that scores the most baskets

How do we determine who wins in business?

How do we determine who wins a baseball game?

The team that scores the most runs How do we determine who wins a basketball game?

The team that scores the most baskets

How do we determine who wins in business?

The team that can make a profit and stay in business

Baseball

Basketball

Business

Baseball - umpires

Basketball

Business

Baseball - umpires

Basketball - referees

Business

Baseball - umpires

Basketball - referees

Business - customers

People who need or want products produced

People who need or want services provided

People who need a problem solved

Have basic needs: food, clothing shelter and transportation

Have wants: health care that exceeds “grandma’s remedies,” toys, vacations, entertainment, social contact

Have limited resources: salaries, wages, profits, other income sources

The customer trades his/her skills, abilities and work time for a salary

The customer gets basic needs, wants and problems solved by trading money for products, services and problem solutions that meet these basic needs, wants and problem solutions

The customer worked hard to earn her salary

The customer wants a calculator Jonathan, the business owner (store)

has a calculator that The Customer wants

Jonathan has priced the calculator at $4.00

The customer pays Jonathan $4.00 for the calculator

The trade has been made: The Customer traded $4.00 to Jonathan for a calculator

Jonathan now has $4.00 and The Customer has a calculator

Jonathan has to pay the supplier $2.00. The Supplier manufactured the calculator and sold it to Jonathan for $2.00

Jonathan has $2.00 left after paying The Supplier

With the $2.00 Jonathan needs to pay his Operating Costs-rent, utilities, wages, insurance, etc.

These Operating Costs are $1.00

Jonathan has $1.00 left which is his profit

With this profit, Jonathan is now a customer who will buy products and services and problem solutions that meet his basic needs and wants

Jonathan needs to sell enough calculators to have enough profit to be able to buy products and services that meet his needs and wants.

Be your own boss Be able to make your own decisions Not be dependent on someone else

like an employer, etc. in determining how well you do

Opportunity to be rewarded for making good decisions

Good income means opportunity to make a positive difference in community