Knowing the definition of business can help you understand business and it will help you to know what you are doing in business, many people don't know the real definition of business so they go around doing anything to make money and they call it business, although it is true that business is the exchange of money for the needs and wants of a person, but when you know this definition I am about to share you will know that business is not just the exchange of money for the needs and wants of a person but there is more to it than just exchanging money so what is business.
What is business
Business is the exchange of value for valuable.
This is the real and best definition of business to me because it covers all other definitions.
So why do I say that business is the exchange of value for valuable, let go back to the beginning so you can really understand this definition very well, so in the beginning when we had not much sense on business we use to do trade by barter and when doing trade by barter we only exchange value for valuable so if I have two Nike shoes and you like my Nike shoes what you are going to do is that you will look for something that has value that I will like and you will come to me for exchange, if what you have is not valuable to me then I will not take it vice versa. So this is how business works in the olden days but now that we have money for exchange people think we can only use money for business exchange no that not completely true.
So why exchange of value for valuable
When you go to the market to buy let say shoe the truth is that the money you are holding has value and you need it but when you take that money to buy clothes it means that the clothes is more valuable than the money at that point in time, so you want the clothes more than the money even if the cost of the money is high.
So what can I do with this definition
Now that you know that business is not only about the exchange of money it means that you can also do business without money and in return you can get assets and make more money for example let say I want traffic and I don't have money to pay for ads I can look for someone with traffic and Go to him/her and exchange any good value you have so he/she can give you traffic, let say that person has a problem of writing articles and you can write articles so all you need to do is to exchange your service for traffic as easy as it can be, you also need to know the aim of business so you can know what you are doing in business.
So I hope you get this understanding of business if you don't understand what I explained here in this content you can ask me any questions in the comments section or you can chat me up and I will try my possible best to answer you ASAP and please don't forget to like share and follow me you can also check out my YouTube channel for more business knowledge thank you.
Posted: Oct. 18, 2023, 11:13 a.m.