Financial Empowerment Series for Entrepreneurs – 5 Session Series
January 10 - February 9
oin the Urban League of Louisiana for the “Financial Empowerment Series for Entrepreneurs”, Tuesdays, January 10 – February 9th, 6:00pm-8:30pm.
New and early stage entrepreneurs have an opportunity to leverage small business ownership as a pathway to economic independence and resilience. To get started on the right path to financial empowerment, it is critical that business owners learn how to launch and grow a business that has financial stability and the potential for growth. During this series, entrepreneurs will be guided through a roadmap to financially position your business for success.
Each session will take place at the Sankofa Community Center, 5200 Dauphine Street, New Orleans, LA 70117. There is no cost to attend, however, seating is limited and registration is required. Register today to reserve your spot!
This series is sponsored by the Lower 9th Ward Economic Development District and Louisiana Economic Development’s Small and Emerging Business Development Program. To participate, attendees must be or become certified through the LED Small and Emerging Business Development Program. Visit www.opportunitylouisiana.gov/sebd to get certified today!
Session 1: Set Up Your Business for Financial Success
New business owners must create a business model and financial plan that ensures success. During this session, entrepreneurs will learn how to properly turn a big idea, hobby, or passion into a successful business model. Participants will learn key insights on how to financially set up your business the right way and best practices for creating a business and financial model that will not become a failure statistic.
Session 2 – Determine Your Start-up Costs and Pricing
As a new or aspiring entrepreneur, it is imperative that you discover your bottom line – what is the cost of starting your new business venture and how do you set up pricing to ensure profitability? During this session, participants, will learn how to assess startup costs and ongoing expenses, determine fixed and variable costs, as well as, how to create financial projections to plan for future needs.
Session 3: Use Your Financial Reports to Make Better Business Decisions
A critical component of managing the financial success of your business is understanding your financial reports – your income statement, balance sheet, and statement of cash flows. You’ve started the business. Now it’s time to evaluate your financial health, determine your break-even point, and analyze your numbers so that you can make better business decisions and plan for the future.
Session 4: Develop Strategies for Financial Growth
As an entrepreneur, once you have learned to assess your finances to make better business decisions, now it’s time to plan for growth. During this session, participants will learn: 1.) how to maximize profits and minimize expenses, 2.) how to use business profits to scale, and 3.) how to determine which income streams should be scaled.
Session 5: Preparing to Access Growth Capital
You’ve started your growth journey! Now it’s time to decide how you will leverage your success to get your financial position to the next level. This includes deciding on a savings plan, insurance, and paying yourself. During this session, participants will also learn how to determine when it’s time to go after a loan, when to consider an equity investor, and how to best position your business to access these resources.