Understanding your Numbers: Cash Flow, Profit & Pricing

Running a business isn’t just about making sales, it’s about understanding what your numbers are telling you.

This practical, jargon-free three-hour workshop is designed to help small business owners become more confident with the financial side of running their business. We’ll break down the key numbers every business owner should understand, including cash flow, profit, break-even and pricing.

Through simple examples, discussions and practical exercises, you’ll learn how to understand where your money is going, whether your business is really making money, how much you need to sell to break even and whether you’re charging enough.

By the end of the workshop, you will be able to:

• Understand the difference between sales, cash flow and profit.
• Identify the key figures you should be monitoring in your business.
• Understand and interpret a basic Profit & Loss account.
• Identify the factors that affect your cash flow.
• Understand how to use a cash flow forecast to plan ahead.
• Calculate your business break-even point.
• Understand the key factors to consider when setting and reviewing your prices.
• Assess whether your current pricing is supporting your desired income and business costs.
• Use your numbers to make more informed business decisions.
• Feel more confident having conversations about your business finances.

You don’t need to be an accountant to understand your numbers. You just need to know what they’re telling you.

This workshop is ideal for Herefordshire-based business owners, entrepreneurs, managers and anyone looking to strengthen their business strategy and plan for future growth.

This free workshop is run by Herefordshire Growth Hub. The venue will be confirmed nearer the time. Find out more and register.