SafeFrame: Class Startup Venture

problem · In my first startup class, each team had to invent a business and run its numbers. My idea was SafeFrame, an automated attendance system for schools and universities.

approach & results

I came up with the idea, and our team of five built the venture around it. I was the CFO.
Ran the first month of accounting in Excel, from journal entries through to the three financial statements: $67,176 in revenue, $21,980 in cost of goods sold, and a net loss of $1,410.56.
Priced each unit at $2,999 against a unit cost of $607.85.
Sized the market at $4.5B in total, $1.6B we could serve, and $16.5M we could realistically win.