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Financial Rapids of Entrepreneurship

Cass’s Stefano De Cesaris helps entrepreneurs navigate the rapids and become financially savvy



Tuesday 02 October 2018

 

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Starting a new business is a fraught experience. There are so many things to do, with tight deadlines and with limited resources. Entrepreneurs have to be jacks of all trades: inventors, marketers, salespeople, operations managers, employers and much more… as well as eat and sleep (and perhaps see their families!).  The start-up period – which can last for years, as the challenges morph from start-up ones to growth ones – can be rather chaotic and the key resource to get through it is the entrepreneur’s passion-driven energy to realise their vision.

Amongst the myriad issues, one more often than not becomes the business’s Achilles heel – managing finances effectively. Clients can be let down, products can disappoint, supplies can go astray – none of these are good, but with swift footwork and some entrepreneurial charm situations can usually be resolved. But if the bank account is empty, and wages, suppliers or taxes need to be paid, business survival can be endangered. Writing business plans, making financing applications, preparing VAT returns and such other accounting and finance activities are key to the success of any business venture, but very few entrepreneurs are accountants by training.

It is those with creative, hands-on experience that most often take the plunge – they are innovative people with code-writing or marketing skills. Their vision tends to be powered by the concept of their new drink or gadget sitting on every table or in every handbag – rather than managing working capital or providing for future tax payments. But manage these prosaic elements sensibly and methodically and some space opens up in your new venture to allow more creative ideas to flourish. Good financial management leads a successful business, not the other way around. It provides the stability and strength for the business to explore and experiment with new products and services and allows for increased marketing.

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Join Stefano De Cesaris on Cass Business Schools’ one-day masterclass, Accounting and Finance for Small Businesses, to better understand the numbers of your business and how to interpret them

Date: Thursday 14 February 2019│ Format: In-class study │ Location: London

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Next February we will be running a one-day program at Cass Business School, condensing key elements of several of our standard MBA accounting and finance modules to extract those key aspects which are relevant for entrepreneurs. The objective is to remove as many blind-spots around financial management as is possible in an intensive day-long program. Through practical case studies that will be punchy enough to stick in the memory, we can shine a light on the most critical aspects for start-ups and growth companies, such as using accounting information for decision-making, managing working capital efficiently and the pros and cons of different financing arrangements. We will also look at how to value a business once it is growing, and the options on how best to prepare it for a possible sale.

Entrepreneurs have to be quick learners but they also need to access the best guidance they can afford to ensure they navigate the rocks and rapids that new businesses inevitably encounter as effectively as they can. Our intention is that by presenting them with our accumulated knowledge combined with our extensive experience with both MBAs and executive participants we can position them well to handle the key financial activities they are most likely to be faced with.


Together we extend business knowledge, we share experience, we extend connections. Together, we create personal advantage and business impact.





 
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