SCORE: Module 1 - Webinar Series On Mastering Business Financial Literacy

Event description

By attending this four part Webinar series, you will learn the basics of Financial Literacy, which will help you to enhance the success of your Business. Unlock the secrets to financial health for your business! This comprehensive webinar series is designed for new and established small business owners looking to gain a solid foundation in financial management. Learn the essential skills from Budgeting to Cash Flow management to Securing Funding and Tax Planning.

Session 1 - Wednesday 2-4-26 - 6:30 PM CST

The current Financial Essentials for the Start-up program, but only up to “Break-Even.”:

·     Define and explain value proposition. Active and start-up businesses should continue evaluating and enhancing their value proposition. Example of enhancement.

·     Include the need to monitor conditions affecting pricing and cost of sales.

·     Monitor and evaluate factors affecting cost of sales. Examples.

·     Gross profit – This requires ongoing monitoring:

1.    Limited start-up and small business bargaining power.

2.    Benefits of high price.

3.    Importance of gross profit and high price.

·     Break-even analysis should be periodically evaluated, particularly as the business evolves and conditions change. Use Excel workbook to demonstrate break-even, including price change.

·     Business owners include personal living expenses/compensation in break-even analysis.

·     Reviewing financial statements should be ongoing. Session 3.