All language subtitles for 4 - L1 05 Business Process Flow V1 - lang_en

A business has two primary goals: to increase revenue and reduce costs.

Metrics allow the company to know if they're on track to meet those goals.

Let's use our WeCart example.

First, the business executives need to think

about the cost they will encounter in building,

promoting, and carrying out their business.

Let's look at some broad categories of costs for WeCart.

For starters, their costs for setting up the website and engineering, salaries of staff,

basic supplies for deliveries,

costs for the payment system,

legal contracts with the manufacturers and their delivery staff,

and rent for the office.

Next, let's focus on increasing revenue.

To do this, we will need to get

new customers as there are a lot of people who don't know about the product.

We need to get their attention.

Getting you customers is a multi-step process.

We need to get ads ready and track their effectiveness to generate interest

among viewers on several platforms so they ultimately buy the product.

Each step of the journey is

an opportunity to see how well we're doing with respect to our goal.