Financial Management for Startups
Lesson:
Watch this video to learn about how to spend money wisely when running a start-up.
Expenses & Costs- Crash Course Entrepreneurship
Project Description:
Start-Up Budgeting Game. To practice budgeting and making wise financial decisions for your start-up in a fun and interactive way.
Materials Needed:
- Pen and paper or digital note-taking device
- Dice or a random number generator app
Instructions:
- Start with a hypothetical budget of $10,000 for your mock-up start-up.
- Create a list of start-up expenses, each with a different cost (e.g., product development, marketing, website hosting).
- Assign each expense a number and write them on separate pieces of paper or digital notes.
- Roll the dice or use the random number generator to determine which expense you’ll be budgeting for.
- Allocate a portion of your budget to that expense based on the cost and your priorities.
- Repeat steps 4 and 5 for each expense until you’ve allocated your entire budget.
- Reflect on the decisions you made and how they impact your start-up’s financial health and growth.