Instructions: Memo format with a one paragraph/sentence introduction, one page, single spaced. Write a brief response to the questions or prompts below. Number your responses per the numbering below. The readings and videos are the same as posted in the syllabus for Monday’s class. Please do not coordinate with your group on this – that will come next week!
Good luck!
Social Entrepreneurship (text): Chapter 6, “Earned Income” AND “How Nonprofits Make Money”: https://b.ly/2Rj71xe (Links to an external site.) (5 min.)What are the three buckets or sources of income for nonprofits. For each one, briefly describe whether and how your team’s venture might tap into them (if your venture will be for-profit, imagine it as a nonprofit)?
“Startup Finance Made Easy: Your Operating Budget”: https://bit.ly/2xToS7f (Links to an external site.) (5 min.)What are, as Bill asks, some key drivers of expenses for your team’s venture?
What will be the key drivers of your revenues/ sources of money?
Describe the “milestone-based budgeting” concept he presented?
How to Forecast Revenue and Growth: Article Link (Links to an external site.) (Links to an external site.)(6 min.)What are “fixed costs”? If your venture will have likely any, name a couple of them.
What are “variable costs”? Name any you think your venture may have.
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