Industry average Costs

Setting a Budget (1)Never assume you can perform better than the industry average in regards to costs. As a start-up, its likely the rest of the industry has been in operation longer than you. They’ve likely used this experience to move up the knowledge curve to better manage operations. The rest of the industry can probably do things more efficiently than you. As a result, never assume that you can walk into a new venture and that your costs will be in line with the older, more established competitors.

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