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Start a Small Business

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What you will learn

Problem and customer
Value proposition
Costs and pricing
Simple sales channels

Fundamentals

30 minutes

Problem and customer

Identify a customer need before choosing a product.

Practice: Practice: Identify a customer need before choosing a product. Write down one example and review your result.

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Value proposition

Explain why a customer would choose your solution.

Practice: Practice: Explain why a customer would choose your solution. Write down one example and review your result.

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Applied skills

30 minutes

Costs and pricing

Separate one-time costs, fixed expenses and per-unit costs.

Practice: Practice: Separate one-time costs, fixed expenses and per-unit costs. Write down one example and review your result.

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Simple sales channels

Compare local selling, social media and online stores.

Practice: Practice: Compare local selling, social media and online stores. Write down one example and review your result.

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Practical project

30 minutes

Customer feedback

Test assumptions with respectful interviews and measurable observations.

Practice: Practice: Test assumptions with respectful interviews and measurable observations. Write down one example and review your result.

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Business canvas

Prepare a one-page business plan for a fictional enterprise.

Practice: Practice: Prepare a one-page business plan for a fictional enterprise. Write down one example and review your result.

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Practice quiz

Select one answer for each question. This is a browser-only self-check, not Academy course credit.

1. What should a new business identify first? A random logo color. A genuine customer problem. An unsupported revenue promise.

2. What is a fixed cost? A fee charged per item sold. A customer testimonial. An expense that stays similar across sales volumes, such as rent.

3. If an item costs $6 and sells for $10, what is its gross profit before other expenses? $4 $16 $10

4. Why interview potential customers? To guarantee purchases. To avoid listening to feedback. To test assumptions about their needs.

5. What belongs in a simple business plan? Only a company name. Customers, costs, offer, and sales approach. Passwords for every employee.

Final mini-project

Create a helpful prompt, improve the response and write a short reflection on the accuracy checks you performed.

Submissions will be enabled only after integration with Academy enrollment and mentor review.