The critical numbers every entrepreneur should know

There are two rules in business:

Rule #1: Always make more money than you spend.

Rule #2: Never forget rule #1.

To know if our business is making more money than it's spending, we need to know how to read, understand and analyse relevant numbers i.e finance. Unfortunately, many of us have the perception that the subject of finance is beyond our scope of understanding and is too complicated.

But, we beg to differ simply because finance is a common-sense subject – something that’s not very common these days. And it can be fun!

Yes, you read it right, finance can be fun.

Finance is the root of how a business makes money and the language of business in numbers! Unfortunately, many business owners struggle to speak this language and are heavily dependent on others to help. There is nothing wrong with asking for help. But have you seen a football player asking the referee how he/she should be kicking the ball?

We’ll cover

• The four critical financial transactions in a business
• The fundamentals of balance sheet, profit & loss statement, and cashflow statement
• The difference between profit & cash, debit & credit, expense & asset
• Aligning financial strategy to your business plan
• Measuring business from a leftover perspective not just from a turnover perspective
• Knowing the term contribution and calculating the margin for all your products and/or services
• Understanding and calculating the break-even point and all the three profit margins
• Understanding the cash-to-cash cycle to efficiently manage your assets and finance
• Knowing the financial pulse of your business.

If finance is scary for you, come along to see Chinmay make it easy and fun!