Back of the envelope

Refers to a rough, informal calculation or estimation of a potential business opportunity, financial projection, or idea. It suggests that the calculation was made quickly and without a formal plan, often on the back of an envelope or other scrap of paper. The back of the envelope calculation is often used to determine the feasibility of an idea or to assess potential outcomes before committing to a more detailed analysis or formal proposal.

In business coaching, an entrepreneur might use a back-of-the-envelope calculation to determine whether or not their business idea is viable. They might quickly jot down estimates of their potential expenses, revenue, and profit margin to get an idea of whether or not the idea is worth pursuing. This rough calculation could then be refined with a more thorough analysis to create a detailed business plan.

Back of the envelope DEFINITION:

1.A rough, informal calculation or estimation of a business opportunity, financial projection, or idea. 2.Informal, rough calculation or estimation of a business idea, often done quickly.

Back of the envelope QUOTE:

1. "Back of the envelope math: where being approximately correct is better than precisely wrong." 2."Back of the envelope math: where wild guesses meet scribbled napkins."