Free Lessons

  • Why should I reconcile my cash balance to the bank’s balance?
  • Why is it important to keep good records?
  • How do I prepare periodic financial statements under accrual accounting?
  • How do I prepare periodic financial statements under cash basis accounting?
  • How do I hire and manage employees?
  • How do I manage cash?

–Managing personal cash by creating a personal budget

–Investing personal cash to initially finance your business

  • What is the “story” of cash? It has three chapters: arranging the financing, investing in startup costs and paying startup expenses, and operating the business
  • What are the three categories that all cash flows can be classified?
  • What is the difference between cash basis accounting and accrual accounting?

What kind of business do you want to be?

  • Regular Corporation- (C Corp) (many owners, limited liability, double taxation)
  • S Corporation (many owners, limited liability, single taxation)
  • Limited Liability Company (many owners, limited liability, single taxation)
  • Nonprofit (501 c 3) (no owners, but an executive management team; no taxation)

What kind of business do you want to be?

  • School-based business
  • Sole Proprietor (one owner, unlimited liability)
  • Partnership (two or more owners, unlimited liability)
  • What is digital marketing?

— an umbrella term for all online marketing efforts

  • What are some examples of digital marketing?

–Websites, Google search,    social media, mobile apps

–SEO (Search Engine Optimization)

–SEM (Search Engine Marketing),

–Display advertising

  • Linking your marketing strategy to the lean canvas
  • The Four P’s of the Marketing Mix
  • Selling your idea to banks and investors (see The Building Blocks of a Pitch Deck)
  • What is the difference between debt vs. equity (Myface example)
  • Where can you get money to start your business? (see chapter 9 of Get Backed)

–Friends, family

–Angel investors

–Venture capitalists

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