Sean Mathieu E.

Labadan
8-Darwin
“REVENUE STREAMS.”
1. What are the different revenue streams that businesses can utilize to generate income?
Like said in the video, "Revenue streams are decided by what we're selling and how we want to
sell it. "There are many ways of businesses that can utilizes to generate income. These include
product sales, usage fees, renting or leasing, licensing, subscriptions, brokerage fees, and
advertising.
2. How can entrepreneurs effectively set prices to maximize their revenue and profitability?
As said in the video, "Reevaluating prices means listening to feedback from your customers
about what they like and need, while also paying attention to the competition and your costs."
Entrepreneurs can set prices to maximize their revenue and profitability by thinking different
factors such as costs, competition, customer feedback, and pricing strategies such as margin
expander, pricing disruptor, revenue driver, and pricing pioneer.

“The Business Model Canvas.”

1. How does understanding customers and their needs contribute to finding a large market
for a business?
"Understanding customers and their needs is crucial for finding a large market for a business
because it enables entrepreneurs to tailor their products or services to meet those needs
effectively." As stated in the video, "Your customers do not exist to buy, you exist for them." By
deeply understanding customer pains and gains, businesses can develop value propositions that
relates with more audience.

2. Why is it important for entrepreneurs to focus on solving customer problems rather than
simply listing features in their value proposition?
"It is important for entrepreneurs to focus on solving customer problems rather than simply
listing features in their value proposition because customers are primarily interested in solutions
that address their specific needs or challenges." The video emphasizes that "It's not about your
idea or product, it's about solving a problem or a need for a customer."
It’s important for the entrepreneur to solve customer problems than simply listing features in
their value proposition because it helps them to give or provide what the unique value they can
give to the customers.