To answer these questions, I would need some specific information such as the amount of money spent to get started and the total revenue generated. Without these values, I cannot determine the total profit or whether money was made or lost.
However, based on the information provided, if it is found that there was a loss or the profit was not significant enough, I would adjust my business plan. This could involve identifying areas where expenses could be reduced, exploring new revenue streams, or revising pricing strategies. Additionally, I might consider conducting market research to better understand customer needs and preferences, and then tailor my products or services accordingly.
Don’t forget that at the beginning of the process you had to spend some of your own money to get started. With the costs taken into account, what was your total profit? Did you make money or lose money? Now that you have these values, would you adjust your business plan from Task 1? If so, how?(4 points)
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1 answer