Financials are critical to a business no matter if it is a start-up or a mature company. Without a comprehensive plan, a company cannot set goals, determine inventory needs or set sales goals. Creating a financial plan will give your company purpose and direction. Each participant should attend the complete series of classes – by the end of the series each participant will have a completed budget for 2020.
This series of classes will break the financials into sections:
• Class 3: Expenses and Cashflow
Class 3 – Expenses, Net Income, Balance Sheet & Cashflow
This class will focus on the expenses for your business. It will also revisit the Gross Profit Dollars line to make sure the Gross Profits are high enough to pay the expenses.
• Develop a monthly expense budget
• Create a net income line and how to manage negative months – revisiting COGS/Gross Profit line to make any necessary changes
• Reviewing balance sheet items that do not appear in the expense budget
• Creating a cashflow budget to ensure that there is adequate cashflow throughout the year
• We will tie the entire budget together so we can see how the money flows through the business by month
• By the end of this class, each participant will have a completed monthly budget for their company
Ann Connor is an award-winning business adviser. She has assisted businesses and organizations throughout the U.S. to create action plans for strategic growth. With over 25 years of experience in the retail industry, she’s helped more than 200 entrepreneurs and non-profit organizations identify their goals, steer them around a multitude of obstacles, and tackle their long-term challenges with a series of manageable steps. She sees her coaching as empowering people to be successful.