Page 248 - merged.pdf
P. 248
CHAPTER 8 MASTERING YOUR MONEY
Item Estimated Cost
Company registration $200-$300
Computers/ Software $1700 per computer
Copiers/ Photocopiers $200-$300 per month
Renovation cost $10,000- $25,000
for 1,000 sq ft space
Advance Rental 2x Monthly rental
(2 months deposit)
Product development Relative
costs/R&D
* Again, by following the strategies I mentioned earlier about
working from home & using freelancers, you can significantly
minimize this.
b. 6 Months of Fixed Expenses
Besides the initial one-time setup costs, you also need to raise
enough money to sustain 6 months of fixed expenses. In case
your sales revenue and cash does not come in as fast as
projected, you would need enough money to keep your
business going.
Using a spreadsheet like Microsoft Excel, estimate your total
fixed expenses for 6 months. In the worst-case scenario - that
is you don’t make a single sale, this is the amount of money
you will need to sustain your monthly operations.
These are some of the usual fixed costs associated with
a business.
Fixed Costs Transport
Rental & utilities Stationary Salaries
Telecommunication Leased equipment
Advertising and promotions
SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES 239
