Financially Savvy Entrepreneur Welcome!. Financially Savvy Entrepreneur Course Overview Webinar Workbook Q & A Extras.

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Presentation transcript:

Financially Savvy Entrepreneur Welcome!

Financially Savvy Entrepreneur Course Overview Webinar Workbook Q & A Extras

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

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]

Financially Savvy Entrepreneur Course Goals

Financially Savvy Entrepreneur Creating a Solid Base of Information

Financially Savvy Entrepreneur Software QuickBooks ( FreshBooks ( & Less Accounting (

Financially Savvy Entrepreneur Finding & Hiring a Bookkeeper

Financially Savvy Entrepreneur Reports - P&L Overview “Balance Sheet” - P&L Detail or Summary

Financially Savvy Entrepreneur Report Review -10 minutes, Review -10 minutes, Circle -20 minutes, Ponder -10 minutes, Review -10 minutes, Notes

Financially Savvy Entrepreneur Entity Considerations Formation Formalities Liability Taxes Fees

Financially Savvy Entrepreneur Entity Choices Sole Proprietorship General Partnership Limited Liability Partnership (LLP) “C” Corporation “S” Corporation Limited Liability Company (LLC)

Financially Savvy Entrepreneur You’re Done with Unit 1 It’s a biggie

Financially Savvy Entrepreneur Unit 2 All about cash flow