Your Business by the Numbers
- 3 hours on-demand video
- 3 articles
- 19 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
Get your team access to 4,000+ top Udemy courses anytime, anywhere.Try Udemy for Business
- Your Business by the Numbers will help you understand how to track costs and revenues
- We’ll look at what numbers to track, and how
- Analyze your sales data to examine factors affecting profitability
- Flowchart Production Processes to Identify increased efficiency
- We’ll use a teaching method called “Story Centric Teaching.” You’ll role play these concepts by playing the Lemonade Stand Game.
- Our course is designed to help you understand what your passions are, how you are wired, and whether or not having a business is a good idea for you. Come with an open mind, a desire to be challenged, and a willingness to commit to action if you believe having a business is the right thing for you.
Your Business by the Numbers will provide students with hands on experience in tracking sales, monitoring costs, and making a profit. First, you will play an online interactive game called The Lemonade Stand Game. You’ll learn how to create an excel spreadsheet to track costs and revenues. You will learn basic business management calculations, and then apply them to a project to estimate a business budget for a company in the book publishing industry. Your Business by the Numbers will teach you how to set your price in such a way that you will know whether or not you will make money, and to test your price level by surveying your customers to be sure you are charging a reasonable price. Within this course, there are nine modules:
Module 1 The first session, Introduction, is designed to explain who can benefit by taking this course.
Module 2 Organizing Your Business Data focuses on the importance of organizing your cost and revenue data in order to track your business.
Module 3 Will You Make A Profit asks you to analyze the Lemonade Stand Game to discover what variables most impact profitability.
Module 4 Be Precise In Your Calculations asks you to make calculations to maximize profits.
Module 5 In the fifth session, Budgeting to Break Even, we introduce the concept of a cost driver. This allows us to construct a cost function, and determine our break even analysis.
Module 6 In the sixth session, Sales by the Numbers, we look at how the sales we make are connected to the profitability of the company.
Module 7 In the seventh session, Budgeting by the Numbers, we will look at how inventory is tracked in the business to see how to reduce costs and increase profits. In this module, we’ll apply what we have been learning in this course to run our business by the numbers.
Module 8 In the eighth session, Setting Your Price, we will look at how to incorporate a survey of your customers with calculations of your costs in order to set a price that lets you make a profit. We’ll examine how people make decisions to see how they decide to buy things.
Module 9 The ninth session, Next Steps, we summarize what has been learned in this course, and preview additional courses in the series available from Generation Self Employed.
- Our curriculum is designed with four groups of people in mind: 1. Individuals presently not working who seek to explore the concept of starting their own business. Such individuals can be of any age. 2. People currently in the workforce seeking to focus their ideas of creating a business by utilizing a course that provides a step by step process to help them achieve their dream of business ownership. 3. High school age students, including those in public school, private Christian schools, and high school age home school teens seeking to develop their entrepreneurial gifts and talents. 4. Older adults nearing retirement age who are considering starting a small business as they near retirement age.
In this lesson, we introduce you to the course and describe the session modules for the course.
In this lesson, we provide you the course outline and lesson descriptions for each learning session. Please be sure to download the course syllabus
In this first lesson, we revisit the Lemonade Stand Game from our course, Understanding Yourself as an Entrepreneur. We’ll ask you to play the game, and while you do, to pay attention to two things: Your business strategy, and the variables you need to keep track of in the game.
In this lesson, we review the results of some of our students at Northpoint Classes when playing the lemonade stand game. We use these results to help us understand how to improve our net revenue in the game, and in your current or potential future business.
In this lesson, we provide you an assignment for you to complete for the next session. We want you to work on creating an excel worksheet to track your variables. In a future lesson, we’ll give you give you a spreadsheet to download. But we believe you will learn more if you create your own.
This lesson recaps your assignments from the previous session. Additionally, we will begin to consider how to calculate the unit cost of the ingredients used in making the lemonade. We’ll also ask you to develop a formula to calculate costs in any situation.
In this lesson, we reveal the formulas you need to calculate unit cost for each of your ingredients. We then use these formulas to calculate your costs per pitcher, as well as each ingredient. We’ll show you how to use this to calculate the difference between revenues and costs – essentially, your net revenue.
In this lesson, we look at Daily Net Profit or Loss, which is equal to Total Daily Revenue minus Total Daily Cost. In this lesson, we look at what happens if we try to use historical customer trends to help us estimate likely customer demand. We'll see that if we do this, we can do a better job of controlling our costs and making a profit.
Using the formulas we’ve developed in this lesson, we present three scenarios for you to analyze to see if you can make money. Using this information, we ask you play the lemonade stand game again to see if you can use your new found math skills to improve your results.
In this lesson, we want to examine ways to plan your business inventory. A key focus should be how you narrow the difference between actual sales and forecasted sales. We need to link accurate customer forecasts to inventory expenses in order to increase net revenue.
In the last lesson, we talked about how to work on improving your forecasts so that your actual and forecasted sales are closer. In this lesson, we’ll look at a couple of strategies to calculate a measure of consistency in sales. You’ll learn how to use Excel to calculate a standard deviation of your sales, your average sales, and then use these to create a measure of sales volatility called the “Coefficient of Variation.”
At the end of the previous session, we had you download an Excel spreadsheet and fill in the various calculation cells. In this lesson, we provide you with a link to download the completed spreadsheet we created, and ask you to review it to see what you might learn.
In this lesson, we apply the budgeting concepts we learned in the previous lesson to the Lemonade Stand Game. We’ll use these concepts to identify the “cost drivers” in the game, and the importance of monitoring our business cost and revenue data to make sure we remain profitable.
In this lesson, we’ll learn about how to calculate a cost function. You’ll learn that you’ll need to become intimately familiar with how your business operates and is organized in order to understand what your budget data is “telling you.”
In lesson, you will pretend you’re the salesman for Books R Us. The boss will ask you to look at the profitability of the proposals you presented to the customer, as well as look over the company’s budget information.
Here is your and of section assignment. Please refer to the printed ebook that accompanies this section of the course for examples of what we are asking you to do. Here is the link for the spreadsheet we want you to download. It's in Microsfot Excel 2003: www.generationselfemployed.com/Busmath/BRUSdata.xls
In this lesson, we continue our analysis of the sales proposals. It is our hope to determine which of the two is in the best interest of the author.
In our previous lesson, we discovered that the second deal the salesman pitched to the author sounds pretty good. But is it a good deal for Books R US? In this lesson, we’ll explore three different scenarios to determine the break even point for the company.
In this lesson, we learn that Books R Us has a number of problems tied to the issue of correct budgeting in the company. The boss describes to the salesman the current cost and revenue trends he’s graphed out for the business. He asks you for your suggestions on how to streamline company operations in order to reduce costs.
In this lesson, we learn more about tracking inventory for Books R Us. You’ll learn about such things as “Stock Keeping Units” (SKUS), “Cost of Goods Sold” (COGS) and “inventory turnover ratios.” You’ll also learn how to analyze trends in these values over time to see what they mean for the business.
In this lesson, we see that changing technology and the introduction of e-books has impacted inventory costs in the book publishing industry. How should Books R Us respond? In this lesson, we’ll consider how to create a survey to ask our customers about the product we sell, and what a reasonable price might be.
In this lesson, we look at how to decide what price to charge for our products and services. One method to help us decide is to simply ask them. In this lesson, we’ll review your previous assignment, and consider how to create a survey.