CIS 105 Midterm: Term Test 1 - Fall 2017
1 Mar 2018
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Things you need to start a business (remember these facts for the midterm) The two most important softwares for business: microsoft word and microsoft. Wp carey wants you to learn one important concept: how to predict the future. The bank (your business partner) wants to know if you can predict the future. Therefore, money only does two things: you can only spend it or earn it. Don"t listen when entrepreneurs only talk about their revenue numbers. Because you don"t know how much money they put into their product to get that revenue. I. e. they could have spent m on their product and only made a m in revenue. When you go to the bank to apply for a loan, you would need to have an excel spreadsheet outlining your revenue and expenses. For the example below, let"s say you are running a coffee shop: Revenue examples: drinks, coffee, t shirts, snacks, coffee grounds, mug.
