New answers tagged startup-costs
The answer to your questions starts from the value the founders are bringing to the business. What value are you bringing? For example, if your answer is simply "money", then you will initially mainly attract new hires with "money", meaning above-market-rate salaries. If your answer is "deepest domain expertise", then you will mainly attract people with ...
Price per unit on its own is meaningless - what about all your running costs? You can't even begin to calculate your cost and sale price without factoring in all your static costs including staff costs - if marking something up by 2.5 and selling 100 a week means you don't break even overall regardless of how much you made on each unit relative to its ...
You must never calculate prices from the cost of materials. You must always attempt to, as best possible, calculate prices from the end user's benefit in using the product. Niel Ferguson, a highly successful entrepreneur, has written a really excellent free ebook called "Don’t just roll the dice: a usefully short guide to software pricing". I highly ...
You may want to consider using Outright, a cloud-based accounting service. It will eliminate the spreadsheet and categorize your income & expenses.
Peter Drucker once said, the role of a firm is to create and satisfy a customer. Note the create part, this can be done either by supplying a need (whether good or service) or in the age of technology enunciating a latent need (eg twitter for ambient intimacy). Founders of successful startups morph through different roles, from captain (absolute command) to ...
Founders need to know a little bit of everything. Yes, you will delegate many things, but you also don't want to be misled by a contractor (or employee) which results in a problem for your company. Learn basic technical skills so you'll be even more passionate about the business!
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