Business Basics: The Professional's Guide
5.0 (2 ratings)
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Business Basics: The Professional's Guide

A Guide to Business Vocabulary and Thinking for Professional Entrepreneurs
5.0 (2 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
13 students enrolled
Created by Robert Affolter
Last updated 6/2017
Current price: $20 Original price: $25 Discount: 20% off
30-Day Money-Back Guarantee
  • 1 hour on-demand video
  • 6 Articles
  • 6 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Talk with accountants using common business vocabulary.
  • Speak knowlegeably with bankers.
  • Understand how a merely "good" credit score can cost you thousands of dollars a year.
  • Choose the appropriate business structure for your state.
  • Ask the right questions to save thousands in legal fees and potential liabilities.
View Curriculum
  • This course is for beginners. No prior knowledge is expected.

The Professional's Guide to Business Basics

You've spent years and thousands of dollars to get a professional education. To be successful, you also want to know how to manage a business.

This course will explain basic accounting vocabulary and reports. You'll be able to knowledgeably talk with bookkeepers and accounts.

You'll learn how bankers evaluate potential clients. You'll know why improving your credit score from good to excellent can save you thousands of dollars in revenue needed to break even.

The lesson on legal structures covers many misunderstandings about legal structures and things to watch out for - even if an attorney is setting up your practice.

This course is primarily intended for doctors who want to be in private practice. This course is not intended for people who are content to work for someone else.

Who is the target audience?
  • This course is for entrepreneurs who want to be their own bosses, but have no business training.
  • If you are content with a job, working for someone else, this course is probably not for you.
Curriculum For This Course
2 Lectures 02:46
The Fundamentals of Accounting
8 Lectures 18:10

The Balance Sheet is one of the primary accounting reports. You use it to determine your net worth.

Preview 06:06

The income statement is another primary accounting report. This one tells you whether you are profitable or losing money.

What Everybody Ought to Know About Income Statements

Your Personal Cash Flow Statement

Your Business Income Statement

Double entry bookkeeping assures that the books are in order. Accounting software handles this for us.

The Secret of Double Entry Bookkeepping

I have seen some confusion about appreciation and depreciation. In this lesson, we will clear that up.

How Appreciation and Depreciation Work
Dealing with Banks
2 Lectures 14:52

Learn how bankers think and what to consider before looking for a loan.

How to Speak Banker

I talked with a person at Wells Fargo and said that I was creating a lesson on credit scores. She said, "Good. Doctors have the worst credit scores."

Is Your "Good" Credit Score Costing You $3000 or More Per Year
Legal Questions
2 Lectures 15:01

Many business owners lose everything when sued for liability for the company. In this lesson, you will learn what to ask your attorney to make sure you are protected.

How to Avoid Business Structure Disaster

Questions to Consider
About the Instructor
Robert Affolter
5.0 Average rating
3 Reviews
27 Students
3 Courses

If you are considering starting your own business, there are a lot of decisions to make. I know how you feel. I've practiced chiropractic for over 30 years. I remember what it felt like to get started. I had a MBA before going to chiropractic college and still didn't know the basics I needed to succeed in healthcare. I had a mentor that I visited almost weekly. The world has changed a lot since then, but I've found that a business mindset and business basics are essential.

In 2006, my son started a construction business. Again, the principles of business are the same. It doesn't matter what business you are thinking of starting, knowing the principles of business will improve your odds of success.

The Professional's Guide to Business Basics is the first course for entrepreneurs. One of my profs in the MBA program told us that the program was not designed to make us accounting, marketing, legal, or finance professionals, but would give us the vocabulary and skills necessary when talking with those professionals. 

That is my goal with this course. I want you to have the basic business
vocabulary you need. I'll also give you a couple of videos that can save
you thousands of dollars in finance charges and legal fees. This is all
real world stuff and not just something some college prof made up to fill a 50 minute class. 

Thinking of buying or selling a business? Buying a business is the fastest way to become profitable. In the MBA program, I took a course called The Capital Budgeting Decision. It was about how to compare different investments. That is really what you are doing when you buy a business. 

The Professional's Guide to Practice Valuation will give you the basics of practice valuation. I created the class for doctors, but the principles are the same no matter what type of business you are considering. I've helped chiropractic colleagues. I helped my CPA get out of accounting and buy a business. In fact, I bought a practice myself using the information I give you in this course. 

Over a decade ago, I became a Realtor. When I took the coursework to become a broker, I learned the process of evaluating a business opportunity. It was the same as I learned in the MBA program. I'm giving you that process in a concise, easy to understand course. If you're buying or selling a business, this course could save you thousands of dollars. I bought a practice with an asking price of well over $100,000 for $50,000. A client bought a practice someone else valued at $300,000 for $10,000. My CPA friend turned down several businesses that weren't worth anything.

Napoleon Hill interviewed the 50 wealthiest men in the world and developed his philosophy of personal achievement. His book, Think and Grow Rich has been translated into multiple languages and has been a best seller around the world. He said that the only thing we've been given complete control over is our mind. That fact is evidence that while controlling our mind we are closest to our Creator.

The Professional's Guide to Ascendancy teaches how to recognize the spiritual part of yourself. You'll learn to program and control your brain and thoughts using a technique I've used for over 20 years. You'll learn how to recognize thoughts that are inspirational or limiting and how to take control. You'll experience programming your brain to find opportunities and people to help you achieve your goals. I draw from my science background and three years with IBM to give you analogies that help you operate your brain. You'll learn why so many people fail to meet their goals and how you can meet yours. 

In addition to my education and work experience, I have been married since 1978. My wife and I have four grown children and one grandson. I enjoy hunting, fishing, crabbing, boating, and camping.