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As a friend of mine put it, the shear breadth of knowledge you need to break even is astounding. Depending on scale and focus area, they'll include: * Accounti
by DavidPeiffer 6y ago
As a friend of mine put it, the shear breadth of knowledge you need to break even is astounding. Depending on scale and focus area, they'll include:
* Accounting (cost of production, allocating overhead expenses, cash flow analysis, financing terms and outcomes)
* Efficiency calculations and cost benefit analysis for equipment comparison
* Buying and selling commodities contracts
* Marketing your product (locking in the price optimally)
* Biology for dealing with animals and anything you plant
* Ever changing government subsidies and regulations
* Maintenance, repair, and troubleshooting of equipment. This helps keep you productive when the weather is good and the vendor techs are busy. Welding is really handy.
If you mess a couple of those up to a moderate degree, you'll probably lose gobs of money. Do it too bad or for too long and you'll be visiting my dad or brother for a bankruptcy.