Financially Savvy Entrepreneur
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Transcript of Financially Savvy Entrepreneur
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Financially Savvy Entrepreneur
Welcome!
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Financially Savvy Entrepreneur
Course Overview
WebinarWorkbook
Q & AExtras
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Financially Savvy Entrepreneur
Unit 1
- The WHY- Creating a solid base of information- Software comparison and recommendations- Finding and hiring a bookkeeper- Reports- Report review- Entity selection
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Financially Savvy Entrepreneur
The WHY
“While good business ideas are plentiful, many entrepreneurs struggle to
understand payroll taxes, health care and other thorny issues... In other
words, they don't have the financial literacy to scale their businesses and
attract investors.” – Daymond John, August 2013 [see
links]
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Financially Savvy Entrepreneur
Course Goals
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Financially Savvy Entrepreneur
Creating a Solid Base of
Information
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Financially Savvy Entrepreneur
Software
QuickBooks (http://emilychasesmith.com/quickbooks),
FreshBooks (http://emilychasesmith.com/freshbooks)
&
Less Accounting (
http://emilychasesmith.com/lessaccounting
)
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Financially Savvy Entrepreneur
Finding & Hiring a Bookkeeper
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Financially Savvy Entrepreneur
Reports- P&L Overview “Balance Sheet”- P&L Detail or Summary
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Financially Savvy Entrepreneur
Report Review -10 minutes, Review-10 minutes, Circle-20 minutes, Ponder-10 minutes, Review-10 minutes, Notes
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Financially Savvy Entrepreneur
Entity Considerations
FormationFormalitiesLiability Taxes Fees
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Financially Savvy Entrepreneur
Entity Choices
Sole ProprietorshipGeneral PartnershipLimited Liability Partnership
(LLP)“C” Corporation“S” CorporationLimited Liability Company
(LLC)
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Financially Savvy Entrepreneur
You’re Done with Unit 1It’s a biggie
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Financially Savvy Entrepreneur
Unit 2All about cash flow