Financial Basics for New Small Businesses (April) April 22, 2021, 1:00pm PDT April 22, 2021, 4:00pm PDT

Seattle, Washington

You’re starting a new business or are just starting your business. Great!! But . . . You’re worried about what will your sales be? Or if you can make a profit and how you will manage your cash flow. And the worst of it all, you’re all alone in your business!! If you need help in any of these areas, this workshop is for you!

This workshop is designed to give you, the business owner, the financial skills and know-how needed to perform key tasks like to:

• Determine how to accurately compute the amount of funding you’ll need to start your business.
• Learn how to project your future financial results realistically including:
• Projecting sales for a new business
• Understanding your cost of goods sold and gross margin
• Being able to project your operating expenses
• Calculating your net income.
• Planning your cash flow successfully.
• This workshop includes a special section on creating financial statements for service businesses.

Proper management of finances is crucial to any business’s success and a special set of skills is needed to understand and create these critical financial statements. This workshop is suitable for everyone whether you are starting a new business or need to update your skills.

This is an interactive workshop. We encourage participation by all attendees -- so bring along your questions!
Bring your laptop – all workshop materials will be available in electronic format.

Listen to what others who have attended this workshop have to say about the instructors and the program:
• Really helped me understand the projection of fixed and variable costs and how to make a cash flow statement.
• The workshop examples easy to understand and the financial templates provided are immensely valuable.
• Now I know what mistakes I’m am making in my business and how to fix them.
• I appreciated that they had financial examples for service-based businesses.
• This workshop far exceeded my expectations on what I thought I would learn.

SCORE’s Small Business Essentials Workshops prepares individuals to make the right decisions and create actionable plans when starting a small business. Whether you are starting a business on your own (one-person business) or a business with employees, we have the right set of workshops to help you succeed. All the workshops are about three hours in length and taught by experienced SCORE Mentors.

This workshop is presented by SCORE Business Mentor, Chuck Botsford. Chuck has worked with both small and large businesses in marketing, finance and operations. He spent the first 15 years of his career managing restaurants and, during that time, was a financial controller in a regional restaurant chain. He then became an author and educator as he transitioned to the technology industry. For the past 17 years he was at Microsoft in areas of marketing planning and strategy with both retail customers and enterprise businesses. He has an MBA from the University of Wisconsin-Eau Claire. You can learn more about Chuck at his LinkedIn profile.

Workshop Fee: $50

About the Presenter(s)

Charles Botsford

Industry Experience: Consulting, Marketing Research and Business Services, Educational Services, Restaurants and Hospitality, Retail and Wholesale Trade, Technology with Online and Web-Based Businesses Professional Experience: I have worked with both small businesses and large businesses in marketing, finance and operations. I spend the first 15 years of my career managing restaurants and...