In this workshop, we will cover unit and overall economics – two sets of concepts that are necessary for you to learn to build a financially sustainable venture. We will look into key concepts around cost of goods sold (COGS), life time value (LTV), and customer acquisition cost (CAC). We will show you how to think about forecasting revenue when everything is unknown about your business. We will demonstrate how to build a pro-forma profit-and-loss statement (P&L) and why this is a valuable exercise to examine your assumptions and ask the hard questions even though all the numbers are bound to be wrong at this early stage.
This session is led by Prof. George Blount of Tufts Gordon Institute and Derby Entrepreneurship Center.
Hosted by the Derby Entrepreneurship Center (DEC).
This Entrepreneurial Workshop Series is part of the Tufts Venture Accelerator.