Test Your Idea Before You Spend a Dime

Presenter: Chez Angela - James

Description:

Before you spend money on starting, growing, or purchasing a business, it is critical to evaluate what kinds of funds are required to make the business work. At the root of this is understanding your cash flow.

Together, we will invent a new business and test its viability. We will discuss what we know and what we do not, build a cash flow projection to identify where the pressures and major expenses lie, and ultimately determine how much revenue is needed to sustain operations. We will examine risks, exposure to external factors, and incorporate tolerances and margins to assess whether the business is a viable idea. Once this is established, we can decide as a group if the business idea is feasible or if adjustments are necessary for it to succeed.

This will be a session based on a laptop and projector. While you are welcome to follow along on your own laptop or tablet, I will provide the final project file after the session so you can customize it or use it to build your own.

You Will Learn:

• How to build a simple cash flow
• How to spot risks and hidden costs
• How to know if your business can work