Controlling Costs and Expenses
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
