When you first hear of the word “Business Calculus”, it is normal to be slightly concerned that it will be a hard class to take.
So, is business calculus hard?
Business calculus is may sound hard, but if you are good at math and have a business mind, you should be able to tackle business calculus with no problem if you put the time in.
What is business calculus?
Business calculus is the way to describe how a business makes money. It breaks down everything that goes into making a product or providing a service and then assigns it a value.
Business calculus is very simple, but can be tricky at times because there are so many factors that go into making up a price of something. Some may think business calculus is too complex and is too hard to learn.
The truth is, business calculus is mostly common sense and most people are already using it without realizing it. It’s actually a very simple concept once you get the hang of it.
Business calculus makes up for all the costs that go into making a product or providing a service produce positive revenue. Every business must know how to do business calculus in order to be successful.
Business Calculus Essentials
The credit of being the inventor of the concept goes to Robert S. Peale, who wrote this book called The Spirit of Success . It is a great read that will give you the basics on what exactly business calculus is and what it can do for you.
Payback Period or Payback Time
You will most likely have to figure out the payback period of an investment before deciding if it’s worth your time and money. The payback period is simply the length of time it takes for the revenue from a cost to equal the cost itself. If, after that length of time, the revenue is still greater than the cost then you are on a good track.
How much studying will business calculus take?
This is really up to you. You can go into business calculus with a basic knowledge of math and still get an A if that’s all the effort you are willing to put in. However, if you want to do well in business calculus I would suggest studying for at least two hours every night.
Business Calculus Summary
Business calculus can be hard for those who aren’t used to looking at things in a business manner, but one thing that helps people understand it better is when they understand how simple it can be. Business calculus rules will vary slightly depending on what industry you are in, but they aren’t too complicated. They are mostly common sense ways to look at business problems that will make your life easier and help you become a more profitable
