Here is something to think about – Amazon operated for years without a profit yet look at the organization today. Amazon was founded in 1994 and did not make a profit until 2001. Think about what happened and what changed?
Would you rather earn more revenue or make more of a profit? Define each term and discuss the differences between each one. Why would one be more important than the other? Explain your position and how you came to your conclusion?
As a small business owner, how would revenues and profits impact your business? Can a small business survive without a profit? If so, for how long?
Longennecker, J., Petty, W., & Plaich, L. (2020). Small business management: Launching and growing entrepreneurial ventures (19th ed.). Boston, MA: Cengage Learning.
Chapter 10: Understanding a Firms Financial Statements (emphasis on sections 10-3, 10-4)
Chapter 11: Forecasting Financial Requirements
Chapter 12: Financing the Small Business
https://www.sba.gov/business-guide/plan-your-business/fund-your-business
https://www.sba.gov/business-guide/manage-your-business/manage-your-finances
