Week 7

CO.STARTERS Resources/Forms


Financial Literacy for Startups

Financial literacy is essential for every entrepreneur. Bill Reichert, a seasoned venture capitalist, provides critical knowledge that will help you go beyond the numbers and use finance as a tool to help you manage your company.

Sales Predictions

The Startup Garage highlights some of the most common and simple methods for projecting sales.

According to this SBA article, sales forecasting is not about guessing the future correctly, but about laying out some assumptions so you can track results and make useful business decisions.

Steve Blank tells the story of a company that failed to accurately project sales by failing to talk with customers.

Cash Flow

Protect your business from a common cause of failure by following these cash management tips.

Understanding your cash flow statement is key to tracking your business's financial health.

This template from SCORE provides an easy, downloadable way to track your business's cash flow for 12 months. For a three year spreadsheet, click here.

Accounting

This mini course/tutorial details some of the troublesome topics that small business owners face: small business accounting and taxes. The course goes through multiple chapters that focus on different areas of business start-ups including hiring your first employees, basics of accounting, banking, loans, taxes, and advice for self-employment.

One of the most popular accounting software options out there, QuickBooks provides seamless accounting solutions for your business.

NetSuite provides accounting / ERP, CRM and Ecommerce in a single, fully integrated solution that connects your business across finance, sales, service and fulfillment.

This company provides a variety of options and a helpful tool to aid you in choosing the one that is best for your business needs.

Tailored for small businesses, Outright makes bookkeeping simple and understandable through its online solution.

Accounting software with all the time-saving tools you need to grow your business.

Scams Targeting Small Business

Protect your business by getting familiar with some of the more creative scams entrepreneurs are falling prey to these days.

Better Business Bureau warns small business owners that reports of scammers plying their trade through telephone relay services -- typically used by the hearing impaired to make phone calls -- are cropping up all across the country. BBB has received reports from many types of businesses that received suspicious orders through TTY or telephone relay services.

Unauthorized invoices and unordered merchandise continue to show up at places of business across British Columbia due to some misleading telemarketing tactics. Better Business Bureau would like to advise businesses that they need a trained and prepared staff for handling these slick sellers.

The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent e-mails that have the appearance of being from the FDIC.

Being vigilant against fraud is not only important for a company's bottom line, it also strengthens customer trust in the business. Becoming a victim of fraud can have a negative financial and reputational impact on a business and the Better Business Bureau recommends owners train their staff to look out for seven common scams that prey on small companies.