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Elias

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Ask for Costs and Revenues

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?

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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2 Meetings

302 Q&A Upvotes

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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.

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.