[COMMUNICATED] A free workshop is being offered to Lakewood small businesses to help you understand the key financial numbers that are essential in running and growing your business.
The story behind any successful business is healthy numbers. Growth without proper financing, planning and management can spell trouble.
The LCSC, a community agency in conjunction with Lakewood’s economic development corporation are proud to sponsor a free presentation which will help you understand key business concepts such as Cash Flow Analysis, Break-even Analysis and the true Cost of Labor.
Presented in a practical and meaningful way by Ed Mendlowitz, a well-recognized CPA and financial expert, with 40 years of experience advising clients in managing their financial accounts, this program will give you the take-aways you need to better understand how your business is really doing.
Topics will include:
Cash Flow Analysis
Perhaps the most important analysis you can do is to systematically track your cash inflow and outflow. Tracking, managing and comparing your cash balances helps you gain a sense of where your business stands compared to the past and where it is heading. Understanding your working capital and timing your cash flow wisely will ensure that you maximize your gains and target and address any potential liquidity issues.
Break Even Analysis
Learn to properly understand, identify and analyze your fixed and variable costs. This will help you make wiser and more informed financial decisions and keep your profits growing. Unfortunately, many business people, especially salespeople, fail to incorporate this important exercise before making decisions.
Labor Burden
We all understand that employees are arguably the most important resource of any organization. However, failing to fully grasp the total costs associated with this vital resource, can lead to trouble. Hiring, training, maintaining, and turnover are all real costs we must fully recognize and comprehend. Oversimplifying the cost of your workforce can significantly reduce your bottom line.
Whether you are an entrepreneur starting a new venture, the owner of an existing business, a salesperson, or a seasoned financial professional looking for a refresher program, this event is for you.
This seminar is offered FREE to the Lakewood community, courtesy of the Lakewood Business Link; a partnership between Lakewood Community Services Corporation (the “LCSC”) and the Lakewood Development Corporation to further the economic development of small businesses in lakewood. It is partically funder by the State of NJ UEZ program.
The “Numbers Made Easy” event will take place on Monday, July 13th at the Strand Reception Gallery on the corner of 4th Street and Clifton Avenue, from 7:00-9:00 pm.
Entry with preregistration only.
For registration, to submit questions, and for more info, please email [email protected] or call the LCSC at 732 901 6001 ext 7.