Successful strategic planning is based upon understanding the health of your business. And the best place to start is working with your financial statements. But what do you need to know in order to maximize the information they are telling you? To answer this question, the Utah Microloan Fund is sponsoring two virtual workshops: Financials 101 and Financials 201. This two-part series led by Karin Palle with Advanced Business Consulting will focus on the magic of numbers and how to use them to manage and grow your business.
Once you understand what reports you need to manage your financials, it's important to know how to use them to hold yourself and your people accountable for the financial wellness of your business. To support these efforts, Financials 201 will cover the following topics:
- What numbers, ratios, and percentages should I be monitoring?
- What is the difference between KPIs, metrics and goals?
- Why is it important to create a Forecast for my business?
- How do I create a Forecast that makes sense?
- How can I use my Forecast to create a Budget for Growth?
Numbers are only valuable if you understand what they are telling you. So make sure to have your calculator handy to experience how math is magical and can guide you to holding yourself and your employees responsible for growth.
Sign up for part one here