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In this 5-minute class, Jennifer Croft teaches how to calculate startup costs. She recommends starting by listing necessary items, using a free downloadable worksheet available on the WWF IV Minute Classes website. After compiling the list, it's important to explore ways to reduce costs. She suggests obtaining 2-3 bids for each item to secure the best prices. Once you have totaled the costs, it's advisable to revisit the list and aim to trim expenses by at least 25% or more. For additional resources, viewers can check the website for more free classes and materials.