Build and grow a financially healthy small business. Get practical tips for managing cash flow, borrowing money to accelerate growth, and protecting your business.
- Let's talk about money. This course is about so much more than managing a bank account. If you're currently working for a growing business, thinking of opening a business for yourself, or you currently run your own company, this course is for you. I'm Jane Barratt, the founder and CEO of GoldBean, a business that sells investment software and content into financial institutions. I also give individuals advice on how to get started investing. Having spent 20 years in the corporate world, rising to the C-suite, I truly felt that I was ready to set up, build, and scale a business.
I was wrong. So many of the skills you need to start your own business are not taught in business school. And the reality is that you can be really good at your functional area of business, but you also need to be really good at managing money. In this course, I'll be covering the fundamentals on how to set up and run a financially healthy business. Small business banking is much more than checking and savings. So we'll talk about choosing a legal structure, choosing partners, and making the most of software.
We'll also talk about cybersecurity. The threat from hackers and criminals is a real issue, but risks exist well beyond the cyber world. Train your team to protect themselves and you and how to spot fraud. We'll also discuss how much insurance is enough and what types of insurance are best for your business. We'll explore how to use debt to your advantage and learn the pros and cons of raising money via debt versus equity. And lastly, we'll help you learn how to draw the line between you and your business and how to protect yourself if things go wrong.
You don't want your business to ruin you financially. Building a business can be extremely challenging. By setting yourself up in a way that reduces your risk, you're reducing challenges that may come your way down the road. So stick with me as we cover the elements of financial health for growing businesses.
- Explain the advantages and disadvantages of different business and corporate structures.
- Determine cash flow using the concepts of revenue and expenses.
- Demonstrate knowledge of best practice fundamentals for business.
- Explain the importance of a cash reserve.
- Differentiate between the types of insurance and other protections a business should have.