If you were to start a business five years from now, what would be your opportunity cost?
Question:
If you were to start a business five years from now, what would be your opportunity cost? In other words, what is the next-best use of your time? How much money could you make working at a job, instead? The answer to this question will give you a rough idea of how to value your time when you start a business and figure out how much to pay yourself.
Step by Step Answer:
My opportunity cost would b...View the full answer
Entrepreneurship Starting and Operating A Small Business
ISBN: 978-0133935608
4th edition
Authors: Steve Mariotti, Caroline Glackin
Related Video
The time value of money (TVM) is the concept that the money you have in your pocket today is worth more than the same amount would be if you received it in the future because of the profit it can earn during the interim.
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