This is a scary word.
It means I have to know what I’m doing and at this point, I have no idea. Tomorrow I’m visiting a local leather bindery to ask questions about the process and the moving pieces involved. Ultimately, I’m working to build a per-unit cost structure to find out how much each product will cost to produce. This will help me to know how the retail price should be set, assuming I can figure out what sort of margin I’ll need to cover fixed and operating costs like staff, infrastructure, website maintenance, marketing, etc.
But again, I’m getting ahead of myself.
While those are all necessary to understand, I still have no idea what my up-front expenses will be. I’ll need a website, a marketing budget (and a plan to build it on), people to execute both of those things, access to service partners (printing, binding and shipping — all cost centers by the way) and more.
I’m going to need serious help mapping out these start-up expenses. Then I’m going to need someone who has money and convince them that this business will make both of us much more of it.
Anyone know a super angel?