Fashionably Business- H Street presents:

Understanding Business Financials - 3 Part Series

2 hours Learn. Implement. Get results. Increase Revenue.

Part I: The Basics- Pricing & Sales Projections

Date : Friday, August 13th, 2010
Time: 4:00-6:00pm
Location: 961 H Street, NE, (Old Bank of America- corner of 10th and H Street, NE)

Description: This workshop explains the basics of business financials and how to begin developing a "makes sense" financial plan for your business. In this first session, participants will learn:

• About various types of pricing strategies
• About creating a price list for products & services
• How to setting hourly rates (services) and markups (products)
• How to develop an initial or working operating budget.

By the end of this workshop participants will have the beginnings of a good  working pricelist and understand how to better develop sales projections for their business.

Part II: Overview of Financial Statements

Date : Wednesday, August 18th, 2010
Time: 6:30-8:30pm
Location: 961 H Street, NE, (Old Bank of America- corner of 10th and H Street, NE)

Come and learn what the various financial statements actually mean and how to develop good financials using the SCORE.org financial plan template. In this second session, participants will learn:

• Basic accounting principles that every business owner & manager should understand.
• About the four key financial statements (Income, Cash Flow, Equity and Balance Sheet) and the key operating statement (Profit & Loss).
• How to actually read the financial & operating statements to determine the profitability of your business.

Part III: Putting It All Together

Date : Wednesday, September 8th, 2010
Time: 6:30-8:30pm
Location: 961 H Street, NE, (Old Bank of America- corner of 10th and H Street, NE)

You've developed your price lists, created your operating budget and even know how to explain the difference between assets and equity. Now what?  Attend the third part of our workshop and put everything together in a comprehensive financial plan complete with all four financial statements. 

By the end of this workshop "series within a series", participants should have a basic understanding of business finances, be empowered to develop their own projections and be able to explain the projections to a small group of business people.

Participants should bring their laptop to this workshop as it will be hands on and interactive. Please make sure to download the SCORE.org financial plan template prior to attending the class.

Questions?: businessdev@gwfcc.org or call 202.709.DCFF (202.709.3233)

**************************Space is limited registration is on a first come, first serve basis.*******************

About the Presenter: EVELYN BANDOH, the founder of EAB Creative Planning Services, has over 8 years of experience in business and financial training, consulting, management and personal financial coaching.  Ms. Bandoh helps creative businesses and entrepreneurs maintain sustainable enterprises by providing training, advising and coaching services that are relevant to the needs of the creative community.

Evelyn  facilitates personal finance and small business workshops throughout the Washington, DC metropolitan area and publishes a blog called Fiscally Fit Fashionista, where she provides practical business and financial advice to her readers. Ms. Bandoh also teaches financial, business and investment education to youth in the DC Metropolitan Area and teaches at UMUC in the Accounting Department and at the Art Institute of Washington in the Fashion and Retail Management Program.

Evelyn is a Registered Financial Consultant (RFC), and a NxLevl certified trainer.  Ms. Bandoh holds a BA in economics, a Masters in Public Administration, a Masters of Science in Taxation, and a certificate in financial planning. In addition to all the technical "stuff", Evelyn designs jewelry and teaches youth about entrepreneurship through jewelry making,  freelances as a makeup artists, and is working on her first set of inspiring books for Creative Entrepreneurs!

***********************************************************************************************************************

About Fashionably Business- H Street

GWFCC’s DC Fashion Foundation, in partnership with Sewing Opportunities Never Ending (Sew-n-Know) and with support from H Street MainStreet, Inc presents:

Fashionably Business on H-Street and the Fashionably Business- Business Plan Competition, Washington, DCs first workshop series and business plan competition dedicated to strengthening and supporting Fashion Businesses in The District.

Fashionably Business on H- Street is a dynamic program that aims to provide multiple levels of support for existing and emerging fashion businesses.  From June through October 2010, fashion entrepreneurs will have access to a variety of FREE workshops, business checkups and one-on-one technical assistance to help grow, nurture and strengthen their businesses. The program ends with the “Fashionably Business” Business Plan Competition, where 1st, 2nd and 3rd place contestants are able to win up to $5,000 in cash and other prizes.  To learn more about the program and the business plan competition, visit the Fashionably Business program page here.

*This program is made possible by a generous Neighborhood Investment Fund grant provided by the DC Deputy Mayor for Economic Development.