Fundamentals of Finance for Entrepreneurs

Finance is one of the key ingredients for successful start-ups. Many entrepreneurs, however, lack knowledge of finance. This workshop series teaches basic financial knowledge needed in launching and operating start-ups to entrepreneurs or would-be entrepreneurs who did not major in finance. Students learn to read and understand financial statements such as balance sheets, income statements and cash flow statements. They also practice simple financial planning for a start-up. This is a practical workshop series aimed at directly applying the knowledge gained into running real start-ups. It also aims to enable entrepreneurs and would-be-entrepreneurs to understand the "language of finance" so that they can talk to professionals with confidence. The purpose of this workshop series is to introduce students to how finance & accounting (financial and managerial) information can be used by entrepreneurs and intrapreneurs to understand revenue models, costs, breakeven point, return on investment, capital budgeting and KPIs, improve decision-making and mitigate risk while maximizing rewards. Students learn the skills to assess if a venture will generate cashflow and test assumptions using sensitivity analysis and customer validation. In addition, students discover the financing mechanisms for innovation and growth that are currently available, including financial modelling and managerial accounting tools.