ECON 1BB3 Chapter Notes - Chapter 9: Small Business
28 Oct 2018
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ECON 1BB3 Full Course Notes
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Not many want to grow their businesses to mammoth sizes because many wish to keep a balanced lifestyle: smallest of small business are called micro-enterprises: defined as having fewer than five employees. Challenges in starting a micro-enterprise o getting new customers is difficult o need discipline in managing time at home o keeping work and family task separate. Distributing prohibited | downloaded by arsen terzian (arsen98@gmail. com) lomoar cpsd|2151316: abiding by city ordinances: city regulations based on if you can run a business at home o managing risk: damages to the house, etc. Must offer more than regular products that can be bought at store, unique products need to be provided so consumers for incentivized to buy online. Affiliate marketing: internet based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer the affiliate sends to the website ex. Farmville on facebook to get more coins sell will pay you commission.
