Step 1: Determine Your Direct Costs Understanding Direct Costs When I first dived into the world of menu costing, one thing became instantly clear: direct costs are the heartbeat of your menu pricing. These are the costs related to the ingredients that go directly into your dishes. If you pour 20 bucks into a gourmet […]
Understanding the Importance of Financial Projections What Are Financial Projections? Financial projections are essentially educated guesses about the future financial performance of your business. I’ve seen many entrepreneurs overlook this vital aspect, thinking it’s just an academic exercise, but it’s way more than that! These projections can guide your decision-making process, helping you allocate resources
Step 1: Understand the Purpose of the Executive Summary Clarifying Your Objectives Before diving into writing your executive summary, it’s crucial to truly understand what you’re aiming for. This document is often the first thing financiers and stakeholders will read, and it’s your opportunity to grab their attention. Think of it as your pitch condensed