Money Module

Money practical case study

In the last lesson, using the example of Penny’s Pots, we looked at a product based business, in this lesson we will look at a business which provides a service to its customers. This will put into practice what we learnt in the last lesson, using a secretarial service provided by Veronique. We will see …

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Your business turnover and profit

Turnover is the total sales generated by a business in a specific period. It’s sometimes referred to as gross revenue, or income. It’s different to profit, which is a measure of earnings.  Turnover is one of the key measures of a business’s performance. It’s used throughout the life of a business, from planning and securing …

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Make sure you have enough cash

Cash is the lifeblood of any business. Its flows in and out, as sales are made and bills are paid. It is always on the move. Take a look at some examples in the table below: Incoming cash Outgoing cash Loans received Materials Sales made Wages Invoices paid Premises Interest received Insurance   Tax   …

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What revenue will you make?

One of the primary worries of small business owners around the globe is how to make sure their enterprise makes money. The future is unknowable, and maybe hardly predictable, but we’ve got to plan around it. We use forecasts in all walks of life, whether we’re deciding what to wear on a given day, or how …

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Start with expenses, not revenues

When you’re in the startup stage, it’s much easier to forecast expenses than revenues.  In the beginning stages of your startup, keeping your expenses low is the key to longevity. For example, you don’t need a huge elaborate office in the heart of your town on day one. Operate thin so you can allocate the majority …

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Gain an income from your business

During the last lesson we looked at how experience with money has influenced you during your live, we now need to move forward and overcome any potential difficulties to enable you to have a successful, profitable business. In this section, we will explore what your business expectations looks like. We will discuss methods for setting your sales price, and how …

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How well do you manage risk?

Successful entrepreneurship involves taking risks. If you don’t embrace risk-taking, you may want to rethink being a business owner. Countless entrepreneurs have taken risks to get their businesses to where they are now. Taking risks, however, does not mean going into business blindly and then expecting great results. In this part of the module we …

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Our relationship with money

Unit Overview & Objectives You will familiarise yourself with the cultural/social context in which your relationship with money has developed Identify experiences and events (small and significant) in relation to money which have marked your journey and shaped your relationship with money Establish the link between the projections that you make relating to money, your …

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