Objectives
Identify sources of potential cost overruns
Identify potential methods of growth for the venture
Description
Every new venture encounters unforeseen events, obstacles, and costs that must be overcome.
As the business begins to establish itself, it is tempting to increase spending at a rate faster than the business plan has foreseen.
It is critical that the entrepreneur have a process in place to control ballooning costs.
Instructions
Read: Start Up Donut. (n.d.). Controlling costs –
Checklist. http://www.startupdonut.co.uk/financing-a-business/cash-flow/controlling-costs-checklist
Prepare a checklist of your own business methods for controlling costs, followed by a description of the methods you will use.
Your resulting paper should be 3-4 double-spaced pages in length, not including a title page or references.
Review the rubric for this assignment.
Evaluation
Controlling Costs and Expenses will be marked in its entirety out of 100. The following rubric indicates the criteria students are to adhere to, and their relative weights to the assignment overall.
Last Completed Projects
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