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Join us for an intensive three-part bootcamp on small business financials. This bootcamp is hosted by financial expert and SBDC Regional Advisor Paul Bozzo. The goal is to do a deep dive into understanding essential small business financial concepts, key financial statements such as the income statement and development of cash flow projections. The Financials Boot Camp is designed for serious entrepreneurs ready to commit the time to take their financial skills to the next level.
Session #1: The first session is an introduction to small business financials. We’ll cover essential financial concepts with a focus on the ‘Big 3’ financial statements: profit/loss, balance sheet and cash flow. We’ll also cover the top 7 most important financial concepts that entrepreneurs need to understand to be successful.
Session #2: Session two will be a deep-dive into the most important financial statement – the income statement aka profit/loss. We’ll cover understanding your revenue drivers, key elements of cost of goods, calculating gross profit margin, business overhead expenses and net profit. You’ll leave session #2 with a comprehensive understanding of how an income statement works and how to use this information to improve your company’s profitability.
Session #3: Our third session will focus on understanding how to develop effective 12-mos cash flow projections. We’ll cover how to set up a budget using a simple Excel worksheet, make key assumptions for revenue and expenses, and how to project what your ending cash will be next month or 12-months in the future. This session will also cover practical and proven strategies to improve cash flow in any small business.