Finance is about more than just money and numbers.
If you are starting your own business and feel your team lacks the necessary financial skills than this is a perfect course for you to get to grips with financial issues, budgeting and forecasting. In about 12 hours, you will become familiar with things like income statements, balance sheets, cash flows and key performance indicators. At a later stage you will still require financial assistance from a qualified accountant, but this course will help you through the early phases before such input becomes necessary.
The tools we're going to talk about are going to help you manage the business that you're running from day‑to‑day. And most importantly, they'll help you get into the future and build an even more successful company. The five key elements of startup finance form a pyramid on which you can build your company. At the base of the pyramid is the foundation of your business, that's reflected in your balance sheet, in your capitalisation table. Above that are the processes of your business. Those are reflected in your income statement and your cash flow statement. Above that is your business model and your business model formula. That's the engine of your business. We're going to talk about converting that into financial numbers. Then we'll talk about your operating budget and your long‑term financial forecast. And on top, we're going to talk about monitoring your performance. We'll talk about your monthly financial statements and about building a management dashboard.
These tools help you understand what has happened in your company, what is currently happening in your company, and what you can expect will happen in your company going forward. And if you take full advantage of these tools, they can even give you an early warning system to make sure you see what's going to happen in your company before it happens. The world of entrepreneurship is really filled with uncertainty. Things are changing rapidly. So you need every tool that you can get to manage that uncertainty.
As this is a US version of accounting, you may find the terminology is slightly different to what you come across in your country - but the contents remain valid anywhere in the world..
This series on “Start a Board” is going to talk to you about why you would create a board, how you create a board, what a board does, how to deal with challenges and conflicts that come up in the context of the board, and overall, how to build and develop a powerful board that can help you and your company grow and thrive.
This programme is open and free for any registered Mashauri user - simply signup at the top right hand corner (or press "continue" below).
Because nothing happens until something gets sold, entrepreneurs must develop the knowledge, skill and discipline necessary to succeed in sales or that early momentum may never materialise.
Entrepreneurs face a lot of challenges. One of the first is selling. What's your initial target market? How do you find the first customers in that market? What do you say once you've found them? And how do you get them to buy what you have to offer, and then stay loyal over time?
In this series, we explore a few of the critical skills and tools that entrepreneurs can use to succeed in selling. Our purpose is to help you become as efficient and effective as possible in the sales process, because you don't have a minute to waste.
This course is based on the course of the same name from Kauffman Foundation and has been adjusted slightly for relevance to our students.