Financial planning for new business ventures
Financial Planning is the most important part of your business. Understanding your costs, profit, sales etc are a crucial part of the everyday running of a business and paying not enough attention to these parts can easily lead to failure.
Many entrepreneurs focus a lot on their business idea and neglect the fact a business doesn't have a chance of success if not properly financially structured and right estimates made.
In this module, you will learn the basics of small business finance as well as making one for yourself using the template provided. Watch the video and then read the book. Then start preparing your own finances and estimate using the Excel file. Don't forget you can go back to that file and edit it as many times as you want, so not be afraid of practising until you figure it out.
See how Marissa worked out her pizza shop finances
After watching the video read this book which simply explains what you need to know for your new business financial management
The StartUp financial management template including cashflow, and break-even etc.
Break-even: what is it?
This video explains what break even is and why you should calculate it for your own business