Entrepreneurship day 5

Today in class we learned more in depth about all of the cost associated with starting and operating a business. There are two categories n which costs fall under, variable and fixed. They both work differently but both effect your overall COGS. As well we learned about start up cost and what is associated with that, along with critical cost (the most important costs in your business). I was glad to learn about today's topic as it gave us a better understanding of how much you have to really invest yourself into your business if you really want it to succeed. It makes you realize there are cost with business you may not have thought of initially, and really makes you debate what corners are worth cutting if trying to start/continue a successful business. It also makes you think about how you can innovate to lower your variable/fixed costs in order to maximize your overall profit.