SBDC LA: Business Finance Literacy 101 (Class 2 of 2)

Description

Business owners struggle with business decisions that affect the financial health of their company. Are we selling at the right price? Are we making money? Can we afford to hire someone?

Many times, these decisions are made without a thorough understanding of the financial implications. This does not need to be the case. There are simple mathematical calculations that can be used to answer key business questions.

Performance Measurements are simple mathematical calculations that can be used to monitor sales, overhead and profitability. They can be applied to any business, independent of size and scope. This session will teach you how to calculate performance measurements for your company.

In this session you will learn:
• How to use financial calculations to manage your company
• How the company’s financials can be used to make key business decisions
• How performance measurements can be used to forecast sales, cost and make hiring decisions
• How to address issues such as drop in sales, increase in expenses or other company disasters