Business Status: Pre-Venture, Startup

This webinar will focus on starting your business with simple financial concepts that are "scalable" with the growth of your business. We explain the three major financial reports that are a minimum requirement for a viable business plan: Budget, Income/Expense, and Cash Flow. In addition, the webinar provides a short explanation when a Balance Sheet is needed and how to read it.

The following topics will be discussed:

• Power of financial statements
• Difference between accounting and financial predictions
• How to start a budget
• How to start a cash flow statement
• Basic financial concepts
• Break-Even calculation
• How to predict revenue as a startup
• Financial management concepts
• Frequently used financial terms
• Tools for financial management

Presented by the Illinois SBDC staff, Business Development Center at College of DuPage