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TryOwning

Track

Foundations

The ideas every business shares. Each one is taught through one real business, then checked against a very different one, so you see what changes and what doesn't.

On the map, these are the stops on the ring road around the middle of town.

The Foundations Loop: a looping road through a park with stops along it, signposts showing a coin, a pie and a balance scale, and a little car driving around.FOUNDATIONS LOOP$

The concepts, in order

  1. Concept 1Open now

    How a business makes money

    Selling meals, memberships, subscriptions or fees: the ways money comes in.

    First through: Restaurant · Compared with: Gym, Software startup, Marketplace

    Also comes up in: Restaurant Row, Costco

  2. Concept 2Open now

    Margins: where each dollar goes

    What's left of each sale after paying for everything.

    First through: Restaurant · Compared with: Software startup

    Also comes up in: Restaurant Row, Costco

  3. Concept 3Open now

    Fixed vs. variable costs

    Costs that stay put, costs that grow with each sale, and the break-even point.

    First through: Coffee shop · Compared with: Airline

    Also comes up in: Restaurant Row

  4. Concept 4Coming soon

    Pricing

    How businesses decide what to charge.

    First through: Restaurant · Compared with: Airline

    Also comes up in: Restaurant Row, Costco

  5. Concept 5Coming soon

    Cash flow

    Why profitable businesses still run out of money: the timing of money.

    First through: Construction and trades · Compared with: Gym

  6. Concept 6Coming soon

    People

    Hiring, wages and scheduling.

    First through: Restaurant · Compared with: Consulting or agency

    Also comes up in: Restaurant Row

  7. Concept 7Coming soon

    Getting customers

    Ads, regulars and word of mouth.

    First through: Online store · Compared with: Salon

  8. Concept 8Coming soon

    Competition

    What makes a business hard to copy.

    First through: Coffee shop · Compared with: Marketplace

  9. Concept 9Coming soon

    Operations and suppliers

    Suppliers, spoilage, inventory and shipping.

    First through: Restaurant · Compared with: Online store

    Also comes up in: Restaurant Row

  10. Concept 10Coming soon

    Reading the numbers

    Profit report, balance sheet and cash flow statement.

    First through: Restaurant

    Also comes up in: Restaurant Row, Costco

  11. Concept 11Coming soon

    Money to start and grow

    Savings, loans and investors.

    First through: Restaurant · Compared with: Software startup

  12. Concept 12Coming soon

    Rules

    Legal structure, permits and taxes.

    First through: Restaurant · Compared with: Online store

    Also comes up in: Restaurant Row

  13. Concept 13Coming soon

    Risk and insurance

    What can go wrong, and who gets paid to carry the risk.

    First through: Restaurant · Compared with: Insurance

  14. Concept 14Coming soon

    Growing

    From one location to many.

    First through: Restaurant · Compared with: Software startup

  15. Concept 15Coming soon

    Why businesses fail

    How each kind of business usually fails, compared side by side.

    First through: Restaurant