Money Matters WITH KASH Season 3 Introduction - KASFIA RASHID

Kasfia Rashid - “Money Matters with Kash the Bookkeeper”

Introduction
You have a dream. It’s a great dream - in the US we call it the “American Dream.” An idea that turns into an entrepreneurial journey. Many dreams die in this early stage. Even more close their doors before reaching Stage VI.

 But what if you knew how to grow a sustainable business fast, even in today’s (post) pandemic economy? That is exactly what we will be sharing in our Season 3 programming at the IBGR Network. Proven strategies delivered by seasoned business owners, sharing what works and what doesn’t work at each of the six stages of business growth. 

Take a look at the Stages of Business Growth and choose the level that best describes where your business is currently. Then pick one of the four times each stage is delivered daily in a 24 hour period. Welcome to the world of entrepreneurship!


Show Objective
Congratulations! YOU did it!! YOU found the next big thing in business! Your product or service fills an immediate need in the market. You may already have sold a few of them and are now ready to JUMP in and claim your share of the world wide pie! So, now what? Over the next 10 weeks in the Stage I Finance block, we will be exploring the steps you must consider before “Going Live.” Today is an overview of the key areas you will want to focus your time and attention on before moving to Stage II.

Your Money Mindset
Starting a business for the first time is like deciding to MOVE to a foreign country. There are so many things to consider!

Where to live (location), what type of work is available (what products/services are needed), where to find like minded individuals and fulfilling activities (where’s my tribe!?)!
​
 Before doing any of that most people thou, most people would want to learn the language of the foreign country, especially if they are planning to live there for a long time…. say the rest of their lives. Wondering what they speak in the world of business? Well, according to Warren Buffett “Accounting is the language of business”!
 
Over the next 10 weeks in the Stage I Finance block, we will be exploring the basic building blocks of the accounting language. 


Your Checklist
While a passion is the reason to get into business, how do you know if the business is “successful”? One way to Quantify the impact that your business has had, is by looking at how much money your business has made. In Money Matters, we will break down the five basic building blocks of Accounting into easy to understand, bite size nuggets. It doesn’t matter what industry you are in, what you sell, or who you sell to, this information is in the universal language. 

*Here are the topics we will cover this quarter:

1. Assets: What are they good for?
2. Assets: Use your Cash correctly!
3. Liabilities: Introducing the Debt Monster
4. Liabilities: Getting the Debt Monster on your team.
5. Owner’s Equity: You are your business, sometimes…
6. Balance Sheet: Putting it all together!
7. Revenue: Not all sales are equal.
8. Expense: Cost of goods sold? What’s that?
9. Expense: Time to spend that cold hard cash!
10. Profit and Loss statement: How tax returns are born.

Next Steps
The ball is in your court. Are you ready to do what it takes to give your dream life? 

1. Set a reminder to Listen, Learn and Apply
2. Grab a pen and paper, you’re going to need it.
3. Liquid courage is always recommended, but not needed- I promise we’re going to have fun here! Join my newsletter for this vital information to be sent directly into your inbox each week! 
4. I have developed tons of resources over the years, tailored to small business owners and I am excited to share them each week with you!

Written by: Kasfia Rashid

* I am not a CPA and the recommendations given in this show do not constitute legal or financial advice. Seek professional advice for all legal and financial matters. 

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