Cash is King, especially for a startup.
We’ve all been there – why does my financial statement look great, yet I don’t have any cash in the bank? That’s because forecasting payments is different than income statements. When founders understand the fundamentals of managing cash (like what’s in the corporate checking account) then they can also learn ways to extend their cash and keep the business running for a longer amount of time.
This Rise Up Sprint will show how startups can be more thrifty on spends and faster on revenue.
Who should take this cohort?
Every founder within a company should have the basic understanding of how cash is tracked and what activities can grow the cash base, and reduce it. Any founder that has an impact on income or expenses should attend this class. It’s fundamental. So, everyone should take this if they don’t understand the differences between a P&L statement and a balance sheet.
Homework and Outcome
The homework assignment is to build a monthly cash flow statement that is forward looking, so that when upcoming financial decisions arise, the founding team can quickly and accurately determine what can be done.
Monday, June 21, 2021 – 12:00pm – 1:15pm MT
Wednesday, June 23, 2021 – 12:00pm – 1:15pm MT
Friday, June 25, 2021– 12:00pm – 1:15pm MT
Meet the Expert
Business Advisor, Goldman Sachs 10,000 Small Business
Kathy Ricci is a Business Advisor with the Goldman Sachs 10,000 Small Businesses Program at Salt Lake Community College. She is the former CEO/Executive Director of the Utah Microenterprise Loan Fund (UMLF). This non-profit organization provides financing and management support to entrepreneurs in start-up and existing firms that do not have access to traditional funding sources.
While there, she led the organization in lending over $15 million to over 900 businesses resulting in the creation/retention of over 1,600 jobs. Kathy received the South Salt Lake Chamber 2016 Business Person of the Year Award, 2015 Salt Lake Chamber Women & Business Pathfinder Award, 2015 Business Woman of the Year for the Utah Hispanic Chamber of Commerce and was included in the Utah Business Magazine 2011 “30 Women to Watch”.
Kathy has served on the Board of the Pete Suazo Business Center, South Salt Lake Chamber and Utah Hispanic Chamber of Commerce. Prior to the UMLF, she was the Associate State Director of the Utah Small Business Development Center in which she assisted in the management of a statewide program providing small business counseling and training. Kathy has a B.S. degree in Finance and Management and a MBA from the University of Utah.
RiseUp sprints are week-long engagements, entirely focused on helping you solve your most head-scratching business problems.
Sprints are led by experts who identify, address, and solve similar issues so frequently, they can quickly understand the source of your problems and offer advice as you create a smart plan that will help your business rise. Each sprint is attended by a hand-picked cohort of founders facing similar challenges, who learn from the expert leading the sprint and each other.
This isn’t like taking a class to learn the basics of running a business. RiseUp sprints drill down into specialized topics, asking “what’s broken?” in your business model, product, organization or execution. Be prepared to roll up your sleeves and be assigned (and complete) homework, while diving deeply into what’s holding back your business. Rise Experts are there to guide you, but they aren’t going to do your job for you. It’s up to you to lead your company to growth as you hypothesize better outcomes and create and execute your plan.
Sprint to the top with RiseUp.