Last week I talked about what a business financial plan (BFP) is and I hope that you have a general conception of what a BFP looks like. This week I will try to take one step forward and discuss with you the sequences and important notes when writing a BFP for a startup business. Continue reading
I have laid down some basics about the four financial statements in previous posts, and in this posts we are going to look at how these four financial statements interconnect and the details and subtleties in constructing these statements. The accuracy of these details are extremely important, because false statements are fraud and may inflict very serious consequences to the company.
Last week I shared with y’all my learnings from the meeting with my mentor, Coach Seth Berger, the co-founder of And One, and talked about how I can apply his ideas of how to identify a target market to my own sneaker business. But that was just a part of what I have learned from talking with him. As promised, this week I am going to take y’all back to the sneaker industry and take a look at its progress in this brand new calendar year. Without further ado, let’s get right into it!
This week I began my quest of finding actual Syrian Refugees to interview. I know this is by new means a simple process and is going to take quite some time to organize. I figured the best place for me to start was to use the contacts that I was given last week at Germantown Meeting. One man in particular that the meeting is trying to help is called Yousef Abbara. Continue reading
This week’s lecture was a great break from the usual routine. The President of Yale College, Professor Peter Salovey spoke about emotion, specifically love. He is best known for pioneering the concept of emotional intelligence. He also noted that many of the studies he references are from the 1950s and 1960s and not considered ethical by today’s standards. Also, most of these studies are anglocentric and heterocentric. Salovey said that it is up to the audience to decide whether or not these studies can be generalized so I’ll leave that to you. Continue reading
As I’m typing this, I’m looking on at a CNC machine with a very long, 23 minute program to run. After a previous week of inconsistencies and mysterious errors, I’ve made some changes to the cut.
This week I worked on figuring out the logistics of my story such as setting, general plot line, and main characters.
One of my writing idiosyncrasies is my unconscious desire to start my process by laying out the beginning and end of the piece. After speaking with Teacher Victoria as a part of my librarian check-in, I was struck by the idea to create an air of unreliability amongst the characters from the beginning, so I worked on writing out what I wanted the first draft of the beginning of my story to be like. Here is a short excerpt from the untitled story. It is merely an intro, so this is not the first chapter.
There are a million means to earn money. But if we discuss what is the fastest way to raise a relatively big amount of money, then attracting an investor deserves a position in that conversation. Isn’t it amazing to have somebody invest the exact amount you need to start your business? But in order to obtain an investment, you need a little magic: you need to show the investors that your business deserves their investment because it is a profitable and sustainable business that will be constructive to the overall society. Continue reading
Today was an eventful day in the life of my independent project. Teacher Pat organized for me to go to Germantown Friends Meeting, where a man named Marwan Kreidie was giving a talk on Islamaphobia and Syrian refugees. Marwan is actually considered a refugee himself, his parents having immigrated from Lebanon just before he was born. Meeting with Marwan was a very helpful experience. By the end of the hour long talk, I not only had learned a lot, but had the names to several key organizations in the local area that are helping Syrian refugees. Continue reading
In this blog post, we are discussing the last component of a financial statement: the statement of cash flow. As its name suggests, a statement of cash flow reports the cash inflows and outflows of a business over a period of time. Statement of cash flows, income statement, and statement of equity make up a complete record of financial activities over the same period of time, and this record is the change in balance sheets between two different points in time.
So, what can we tell from a statement of cash flows? How might that information help us?