What Would Be Your Next Steps if You Owned This Business?

TMBA296: What Would Be Your Next Steps if You Owned This Business?
Date: 2015-06-12
Link: Tropical MBA
 
Tropical MBAWhat is the truth of what this business is doing today?
A lot of time the innovations come from the edges.
At the worst case you are learning a lot.
(Just because you raise money) does not mean you have a viable business.
Breakdown cash flow projections in order to find a break even point.
In the food world your margins are lower so you volumes have to be higher.
If you are going to run a real business you have to have some margins built in–especially at the beginning because you are going to have all of these overhead costs.
Be honest about the process and understand what the real costs are.
George Jetson’s time is now.
The language of business is spreadsheets.
Projections are never going to be actual. All the detail helps you make decisions.
If you are doing a business by yourself you can appreciate how lonely it is.