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Similar to Financial Management For The Start Up Company V 1.0
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Financial Management For The Start Up Company V 1.0
- 1. Financial Management Guidelines for the Start–Up Company. © C. F. Advisors 2010 Growing Business. Managing Success.
- 2. What is Financial Management? Translation of numbers into words; numbers record transactions; words communicate the story and an understanding of the story enables us to attain results. Financial Management Guidelines for the Start–Up Company.
- 3. Accounting Basics Assets = Liabilities + Equity Balance Sheet Income Statement Statement of Cash Flow ONE pretty simple equation and THREE Statements (Reports) Financial Management Guidelines for the Start–Up Company.
Editor's Notes
- The focus of financial management should be on communication and the direction should be forward looking.
- Accounting is merely a component of financial management. Pretty simple concept because it is all based on one equation and has three “scorekeeping” reports.
- So let’s take a step back and look at the practical aspects of financial management and establish a basic framework in terms of FOUR guidelines.
- Know where you are going and put in place the systems that will get you there.
- Be very aware that.......................the devil is in the details. So pay careful attention to the details
- Remember that Cash is KING Surprises are for Birthday parties NOT your Start-Up company.
- Not enough financial managers do this.............................
- Remember the old days.......................the three P’s of management success Then there became six requirements for management success TWO P’s and FOUR E’s Because execution is TWICE as important as planning
- And finally...............................Guideline number FOUR Maybe the first among equals. Requires a clear focus on what will be coupled with strong people skills.............. It clearly recognized change, albeit incremental change as a major constant over the evolution of the emerging company.
- And this has much broader applications................................