Week 7: Operations – How to set up, run and operate your business
As we continue our mission to test and validate our business model, we need to dive into the practical side of your business. This is where many of the costs required to operate your business will rear their heads – often unexpectedly.
There is a lot to cover here but we need to start nailing down these activities more accurately to understand clearly how much it will cost to run your business. It’s going to impact the volume of sales you need to achieve to breakeven. Last week, we talked about marketing and sales, which should have given you an idea of what is achievable with your initial marketing activities. Knowing the costs from last week’s articles will help you judge if this will be enough!