Week 4 - Funding and Wrap-up

It is rare that a new business venture does not require some amount of funding to startup.

At this stage it is important to go back and review the financial worksheet tabs for startup costs, equipment & vehicles and facilities.

Some overlooked costs include:

• Travel expenses incurred during sales efforts including gas for your car. Driving just 100 miles per week getting 25 miles to a gallon burns through 16 gallons a month. If gas is $3.50 a gallon, that is $56 per month. For a micro-business that can add up. 200 miles per week is over $100 a month in gas expense.

• Business liability insurance may only cost $350 to $500 for a micro-business, but often must be paid upfront in full the first year.

• Free samples or introductory discounts still cost money to produce and deliver.                                                                                                                                                            
• Grand opening celebrations can require food catering, beverages, promotion and other expenses that add up quickly.
  

Before completing your written plan which should include lists of startup expenses, go through your startup costs lists one more time!

Review and adjust as needed.

When ready, hit NEXT