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Welcome to Unit 2: Let it Flow! In this module, we explore the vital concept of cash flow for entrepreneurs. Understand the difference between cash flow projections and cash flow statements, and learn the importance of maintaining an emergency fund that covers 3-6 months of non-discretionary expenses. This unit also highlights the wisdom of having a financial cushion, as emphasized by experts like James Altucher. Equip yourself with the tools to analyze the profitability of individual products using the 80/20 Rule, ensuring your business thrives financially.
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Welcome to Unit 2: Let it Flow Financially Savvy Entrepreneur
Cash flow and why it’s important Financially Savvy Entrepreneur
Cash flow projections v. Cash flow statement Financially Savvy Entrepreneur
Emergency Fund 3 3-6 months of non-discretionary expenses Financially Savvy Entrepreneur
War Chest “A million dollars is a great thing. Then you can just put it in the bank, and relax. Sometimes people tell me "I have a million dollars. What should I invest in?" I say don't invest in anything. That is great, man. Put it in the bank. Just have the cash for awhile. Cash is cool.” - James Altucher Financially Savvy Entrepreneur
Your Salary Financially Savvy Entrepreneur
Profitability of Individual Products or Services 80/20 Rule Financially Savvy Entrepreneur