Financially Savvy Entrepreneur

Welcome!

Financially Savvy Entrepreneur

Course Overview

WebinarWorkbook

Q & AExtras

Financially Savvy Entrepreneur

Unit 1

- The WHY- Creating a solid base of information- Software comparison and recommendations- Finding and hiring a bookkeeper- Reports- Report review- Entity selection

Financially Savvy Entrepreneur

The WHY

“While good business ideas are plentiful, many entrepreneurs struggle to

understand payroll taxes, health care and other thorny issues... In other

words, they don't have the financial literacy to scale their businesses and

attract investors.” – Daymond John, August 2013 [see

links]

Financially Savvy Entrepreneur

Course Goals

Financially Savvy Entrepreneur

Creating a Solid Base of

Information

Financially Savvy Entrepreneur

Software

QuickBooks (http://emilychasesmith.com/quickbooks),

FreshBooks (http://emilychasesmith.com/freshbooks)

&

Less Accounting (

http://emilychasesmith.com/lessaccounting

)

Financially Savvy Entrepreneur

Finding & Hiring a Bookkeeper

Financially Savvy Entrepreneur

Reports- P&L Overview “Balance Sheet”- P&L Detail or Summary

Financially Savvy Entrepreneur

Report Review -10 minutes, Review-10 minutes, Circle-20 minutes, Ponder-10 minutes, Review-10 minutes, Notes

Financially Savvy Entrepreneur

Entity Considerations

FormationFormalitiesLiability Taxes Fees

Financially Savvy Entrepreneur

Entity Choices

Sole ProprietorshipGeneral PartnershipLimited Liability Partnership

(LLP)“C” Corporation“S” CorporationLimited Liability Company

(LLC)

Financially Savvy Entrepreneur

You’re Done with Unit 1It’s a biggie

Financially Savvy Entrepreneur

Unit 2All about cash flow