It's all about the money!
"If you don't make money you don't have a business but an expensive hobby."
All business decisions have financial impacts!
CASH FLOW
Imagine a tank with one pipe going in and another one coming out of it.
- pipe going into the tank = money in
- pipe coming out from the tank = money out (cost)
- tank = cash flowCOST:
Direct cost:
- making a product/selling a service
- materials
- labour
- advertising
Indirect cost:
- salary
- rent
- insurance
- accountants, lawyers
- postage, stationary
- bills, internet
Assets:
- machinery
- equipment, tools
Crowd Founding
Asking other people to support your idea financially.
Kickstarter - USA
Enterprise Nation - UK
The most important thing is to get people's attention. Either by telling a story, making an informative/catchy video, using the power of humour or offering popular rewards for pledges.
