Value Exchange: Making of a Deal
Business is all about trading resources with other people. Do I have something you want or need, and will give me money for that resource? i.e. an exchange of value. There are all sorts of resources that you can trade- time, money, goods, services, information, and more. And of course, not every transaction has to be a monetary one- bartering is still very much alive and well in the business world. The key is to identify what it is that your company has to offer that other people want or need, and then find ways to make those exchanges happen.
You need something they want if you hope to make a profit- after all, there’s no way for your company's budget or revenue stream will be larger than its spending unless new money comes into the picture (in which case we're talking growth). It may sound obvious but many new entrepreneurs will enter markets without something people want previously-and this can lead them towards failure as well because there's no way you could effectively service these consumers if everything were just wasted - so make sure that whatever products/services offered have some level of economic value before trying anything
Once you've got the hang of transactions, you'll start to see opportunities for them everywhere. That said, it's important to develop and test a Minimum Viable Offer before you jump in head first. This allows you to de-risk the start-up and determine if their product is valuable enough to sell before making any large investments. Your goal should be to make your first profitable transaction as quickly as possible. This way, you can transition from working on a project to running a business. You can read more at https://personalmba.com/transaction/