One of the toughest things in starting a business is, well, figuring out what it's going to cost you to start. It's tough because startup costs are a moving target, easy to underestimate and almost always subject to change.
I like the one-sentence startup guide that I was given by Tom Emerson, director of the Donald H. Jones Center for Entrepreneurship at Carnegie Mellon University in Pittsburgh. "Start out with nothing and sell half of it for several million dollars and you'll be on your way," he tells me in a phone interview. I imagine he had a big grin on his face as he spoke.
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