Think Inc. — Module 10

You don’t have to be a financial wizard to run a prosperous business.

But you do need to understand some basic “numbers” so you can use financial data to make smart decisions.

In this module, you’ll learn how to:

  • Shift your focus from revenue to profit
  • Price your offering to maximize your profit
  • Create and manage your cash flow sheet
  • Recognize the importance of setting up a bookkeeping system
  • Use financial data to guide your decisions

Be sure to check out the Resources section for further help developing your financial literacy and planning for financial success.

Mastering the Numbers Part of Business


Thinking Like a CEO

Zeroing in on Profit

Cashflow is King

Bookkeeping Basics

Making Use of Your Financial Data

Take Entrepreneurial Action

  1. Using the Cash Flow Sheet template, estimate your cashflow for the next six months. (For bonus points, go for the full 12 months!)
  2. Choose an accounting app and set it up for your business. Then make an appointment with yourself to update the app regularly.

Reflection questions

  1. How do you feel when you think about the “numbers” part of running a business? If the idea of managing business finances brings up any negative emotions, how might you reframe your thinking about that to adopt are more finance-positive mindset?
  2. How do your thoughts about managing business finances relate to your thoughts about money in general? 
  3. What did you learn about money growing up? How have family attitudes and personal experiences shaped the way you think about money?
  4. Would changing any of your thoughts about money make you a more effective entrepreneur?

 Additional Resources

  1. Financial Literacy Assessment
  2. Pricing Optimizer Tool
  3. Profitability Calculator

For Further Help

Below you’ll find a catalogue of entrepreneurship resources. It includes the resources curated for each Module of the Think Inc. program plus additional resources on other topics that will help you develop your entrepreneurial thinking skills.

Module 1 Resources: Find Your Entrepreneurial Idea

Module 2 Resources: Collect Insights from Your Target Market

Module 3 Resources: Sketch Your Business Model

Module 4 Resources: Pitch Your Business Idea

Module 5 Resources: Start Your Side Hustle

Module 6 Resources: Design the Career and Life You Want

Module 7 Resources: Attracting Your First Customers

Module 8 Resources: Sales and Business Processes

Using LinkedIn to Grow Your Business

Using PESTLE Analysis to Position Your Business

Cultivating Influence Skills

How to Pivot Successfully

Refining Your Business Model