Business basics for entrepreneurs

From your first idea to your first paying customer — without the jargon.

1. 1. The idea, in one sentence

   Who is the customer, what problem are you solving, and why now? If you can't fit that on a sticky note, you're not ready to build.

2. 2. Profit vs revenue

   Revenue is what comes in. Profit is what's left after every dollar going out. Bringing in $10,000 means very little if it cost you $11,000 to do it.

3. 3. Your first invoice

   An invoice should include: your name/business, the customer's name, an invoice number, the date, what you did, the amount, and how to pay. Keep a copy.

4. 4. Estimating startup costs

   Use the startup cost estimator to separate one-time costs from monthly costs and see your six-month runway.

Educational only — not financial advice.