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- Thank you for meeting with me Phoebe! I really need your help with investing in my business!
- You're welcome Sarah! I'm flattered you came to me, if anything. Now, before we start, do you have a business plan and start-up costs?
- Yes, I do! I've even figured out how much each product would cost!
- Wow, really? Did you use the economics of one unit strategy?
- The economics of what? No, I just kind of estimated.
- Sarah, no! You can't just estimate! You have to use that strategy in order for you to get a fair profit! I'll help you with that, later, but do you have a marketing strategy at least?
- Oh wow, I didn't know that was so important! Yes, I do have a marketing strategy, I have it set up at my apartment.
- Okay, that's good, I'm interested to see it. What exactly is your product, you didn't really describe it to me?
- I want to start up a music business actually! I'd be selling music albums and you can pick up music equipment as well, like guitar straps, picks, drum sticks, etc.
- Hmm, okay. How are you thinking about advertising to your target customer?
- Yes, I am saving up in a separate account for advertising purposes. I was thinking newspaper ads and ads on T.V. would be most effective for a start.
- Thanks Phoebe, I feel a lot better about this now. Do you want to help run my business?
- Great, that sounds awesome! You seem to know what you're doing, you just need some help with calculating your money, but that's easy to do.
- I can help start up your business, but not run it. I'm a venture capitalist, but maybe with the rate your going, you could be one too!
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