At last week’s Entrepreneurship 101 lecture, Andrew Graham, Senior Director, Corporate Development at George Weston Limited, made sense of what is often seen as a rather complicated subject.
His lecture dissected the basic tools of financial planning:
- Income statements
- Cash flow forecast
- Balance sheet
If you want to get investors’ attention, you have to have a realistic plan that shows how you will spend and make money. You also need to be able to understand the details: revenue, cost of sales, gross margin, operating costs and more.
This lecture used several case studies to show how companies forecast growth both successfully and unsuccessfully.
- It’s all about cash
- Forecast from the bottom up
- Get expert advice when you need it
For more on how to build your financial plan, watch this Quick Hits video:
To watch the entire lecture, click here.
- Speaker slides: Financial Planning
- Video: Financial Forecasting: What you need to know – Five hot tips for startups
- Workbook: Financing Workbook 1 – Developing a Financing Strategy for Your Company
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Next week’s lecture: Meet the Entrepreneurs – Social Innovation.
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