Business acumen
"Business acumen" means being really good at understanding how to run a business.
Imagine you wanted to run a lemonade stand. You have to know a few things to make it successful:
- How much money it costs to make each cup (lemons, sugar, cups, etc.)
- How much you should charge for each cup to make a profit but also be fair
- How to advertise to get customers to come buy your lemonade
- How to handle money, give change, and keep track of your profits
If you can do all those things well, you have good business acumen! But it's not just for lemonade stands - it's for all kinds of businesses, big and small.
Imagine you wanted to run a lemonade stand. You have to know a few things to make it successful:
- How much money it costs to make each cup (lemons, sugar, cups, etc.)
- How much you should charge for each cup to make a profit but also be fair
- How to advertise to get customers to come buy your lemonade
- How to handle money, give change, and keep track of your profits
If you can do all those things well, you have good business acumen! But it's not just for lemonade stands - it's for all kinds of businesses, big and small.