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Ask for Costs and Revenues

Anonymous A asked on Oct 13, 2018

Hi!

What is the best way of asking for costs and revenues? Often I tend to mention the costs I can come up with on the go, then ask for them and whether there are any other relevant costs? Is this a good approach? Or is it better to ask for what the total costs are? And then the breakdown? And what approach is the best for revenues?

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Elias
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replied on Oct 13, 2018
Experienced strategy consultant, now running own consulting business
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In general, presenting the costs that you can come up with first is a very good way to approach things. Next, you can ask whether you missed anything relevant. The key word here is relevant - many juniors struggle with completeness vs. relevance. Showing that you can prioritize and separate the important from the unimportant will definitely help you.

That being said, if it's a simple math exercise (i.e. calculate break even) there may be no need to break down costs - totals for fixed and variable costs may be fine.