1. By Jonathan Anderson Director Standing Rock Sioux Tribe Entrepreneurial Center

2.  How do we determine who wins a baseball game?  How do we determine who wins a basketball game?  How do we determine who wins in business?

3.  How do we determine who wins a baseball game? The team that scores the most runs  How do we determine who wins a basketball game?  How do we determine who wins in business?

4.  How do we determine who wins a baseball game? The team that scores the most runs  How do we determine who wins a basketball game? The team that scores the most baskets  How do we determine who wins in business?

5.  How do we determine who wins a baseball game? The team that scores the most runs  How do we determine who wins a basketball game? The team that scores the most baskets  How do we determine who wins in business? The team that can make a profit and stay in business

6.  Baseball  Basketball  Business

7.  Baseball - umpires  Basketball  Business

8.  Baseball - umpires  Basketball - referees  Business

9.  Baseball - umpires  Basketball - referees  Business - customers

10.  People who need or want products produced  People who need or want services provided  People who need a problem solved

12.  Have basic needs: food, clothing shelter and transportation  Have wants: health care that exceeds “grandma’s remedies,” toys, vacations, entertainment, social contact  Have limited resources: salaries, wages, profits, other income sources

13.  The customer trades his/her skills, abilities and work time for a salary  The customer gets basic needs, wants and problems solved by trading money for products, services and problem solutions that meet these basic needs, wants and problem solutions

14.  The customer worked hard to earn her salary  The customer wants a calculator  Jonathan, the business owner (store) has a calculator that The Customer wants  Jonathan has priced the calculator at $4.00  The customer pays Jonathan $4.00 for the calculator

15.  The trade has been made: The Customer traded $4.00 to Jonathan for a calculator  Jonathan now has $4.00 and The Customer has a calculator  Jonathan has to pay the supplier $2.00. The Supplier manufactured the calculator and sold it to Jonathan for $2.00  Jonathan has $2.00 left after paying The Supplier

16.  With the $2.00 Jonathan needs to pay his Operating Costs-rent, utilities, wages, insurance, etc.  These Operating Costs are $1.00  Jonathan has $1.00 left which is his profit

17.  With this profit, Jonathan is now a customer who will buy products and services and problem solutions that meet his basic needs and wants  Jonathan needs to sell enough calculators to have enough profit to be able to buy products and services that meet his needs and wants.

18.  Be your own boss  Be able to make your own decisions  Not be dependent on someone else like an employer, etc. in determining how well you do  Opportunity to be rewarded for making good decisions  Good income means opportunity to make a positive difference in community