We were grateful to have mentor Ken Torbeck join us to talk about the importance of knowing your numbers before ever considering discounts.
Ken walked students through a hands on simulation showing the relationship between
đź’° Sales
📉 Variable expenses
🏢 Fixed expenses
He did an excellent job making this concept digestible for students, and they saw firsthand how quickly profits can disappear and how easy it is to tie up your money when prices are lowered without understanding true costs.
A big takeaway was that while giving family and friends discounts can feel good, businesses still have bills to pay and must make a profit to survive.
Thank you Ken for sharing your time and expertise with our students.
