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Finance is FunJack Foley Really?
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20 minutes (<)
1. Entrepreneurial or ostrich business-design strategy?
2. The financial skills you need are easy to build3. The online financial skills course4. But what about the FUN!
This is not about accounting or bookkeeping!
Finance
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Financial Model
Business Model
Business Idea
(1) Entrepreneurial
Your plans for:• Buying & Selling• Overheads• Funding• Fixed Assets
Projected:• Profit & Loss
Account• Balance Sheet• Ratios
But will it make money?
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Financial Model
Business Model
Business Idea
(1 cont’d) Ostrich
I leave finance to accountants
I’ll pick it up once we are up and running
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8 out of 10 start-ups fail
within 18 months
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Why?
18 Months
82
Idea or Events
“18 months” suggests you have to get it right before you start!
The avoidable errors:• Profit margins too low (Pricing)• Overheads too high • Cash crisis
• Equipment • Working Capital policies• Not enough start up capital or
too much borrowing
Business ModelThat’s life!That’s sad!
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(2) And it is so simple
We use a trading model because…
.
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Now is the time to learn
Lean?
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(3) The online course
• Complete the simple quiz and email it back • We send your login details• Log in to www.fabeducation.com• Complete the foundation course in Step 1• Email for support it you need it – we will
follow through and contact you anyway
30 days!
Learn by “doing”Systematic Learning”
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Tutors
Go LiveAdvanced
and
Optional
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• Learn it• Speak it• Do it
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Lean financial skills
Buying & selling
Overheads
FundingAnd
Fixed Assets
How to generate
profit
How not to run outof cash
Ratioanalysis
❷ ➌ ➍ ➎ ➏❶
1 Video2 Quick Practice Guide3 Practical Financial Quiz4 Key learning points and workbook references
5 Multiple choice questions
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(4) But where’s the FUN bit?
• The FUN is:– Using FaBLinker to explore and perfect the
business model – Having a business that you can enjoy and does not
fail on a TKO.
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It is just as important to
design a sustainable &
profitable business
model as an appealing
product/service
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The big question
How many of you will complete the finance
course?