Most small business owners have been hyper-aware of their financial position and bottom line during the pandemic. Some are looking for places to cut back with the least impact on their long-term growth. Others are looking for areas to invest in that will give the best return. Still, others are working on putting together a budget for their next fiscal year amidst all of this uncertainty. This session will give participants the tools to think through their business’s finances and the path forward. What we will cover: · Building a financial plan – set goals for sales and profit and measure success against those goals · Creating a cash forecast that predicts future cash balances – knowing when cash shortfalls are predicted gives the business owner more time to adjust. Examine your spending with an eye on fixed expenses versus discretionary ones. · Creating a dashboard of your important Key Performance Indicators – Even in good times, having a view of your business performance will help you address issues as early as possible.
Registration is now open for Virginia Tech’s Introduction to Data Analytics Certificate course. This 6-week virtual course will feature engaging and informative sessions led by experienced Virginia Tech faculty. Participants will establish a foundation in data analytics and develop skills to be applied to their specific organizations/industries.
Did you know that only 4% of businesses hit $1M in revenue? Tim Ryan and Zack Miller are the creators The Fervent Four Show, designed to help you get there. Check them out on Facebook Live every Thursday at 11 AM on the StartWheel.org/live