2 Essential Attributes to the Cost Structure of your Business


To see more videos, visit us at

In this video, Monika Papadopoulou, our Community Relations Manager, talks about two essential attributes for the cost structure of her business

The cost structure refers to all the costs it incurs to comply with its business model. Keeping your costs under control is essential to maintaining a healthy business:

Two elements of the Essential Cost Structure include:

1- Fixed costs: refers to all the costs that you must incur, whether you sell or not. These may include factory costs, general administration staff, rent, administrative staff, etc.

2- Variable costs – which refer to the costs that are associated with the sales of your products or services. The more you sell, the more these costs will go up. Variable costs include things like the raw material for your products, or the cost of the consultants that you, etc.

When starting a business, keeping fixed costs as low as possible is essential so you do not run out of cash too quickly before you start selling enough products and services to cover your costs.

Youtube:
Subscribe to our YouTube channel:

Follow us on our social media channels:
Facebook:
LinkedIn:
Twitter:
Goolge +:

Video credits to Potential YouTube channel





  • Your reaction?
    Now I Know Now I Know
    0
    Now I Know
    Wow! Wow!
    0
    Wow!
    Surprised Surprised
    0
    Surprised
    Lol Lol
    0
    Lol
    Nice Nice
    0
    Nice
    Sad Sad
    0
    Sad
    Love It! Love It!
    0
    Love It!
    Angry Angry
    0
    Angry
    WTF WTF
    0
    WTF

    2 Essential Attributes to the Cost Structure of your Business

    log in

    reset password

    Back to
    log in