Emotion Emotion can prevent start-ups from seeing their idea isn’t viable as a business. Obscure, esoteric new products/ services only appeal to few people. Targeting a small niche means less competition, but also less money Guessed the Word? Series 33 (2/5) [pic: lubo minar]
Tag: product
Value-added tax Lower VAT rates reduce the ‘black economy’. Self-enforcing VAT is 1950s French invention. Instead of a levy on final sale of a product/ service, it’s imposed at every step of production, with a refund for the tax paid at the previous step. Each firm reports the VAT the previous firm in the chain should’ve…
You If you’re not paying for a service, you are the product The customers are the advertisers, who use info about you to target their ads Guessed the Word? Series 18 (5/5) [pic: simschmidt]
Original No good being original if there’s no demand for the product/ service at a profitable priceA sensible economic model underpins every successful business Guessed the Word? Series 18 (2/5) [pic: timon klauser]