Week 6 commenced with the same level of intensity as every other week of the programme. We kicked off with Ed Halliday of Futures Faculty breaking down the essentials of finance that every startup must become acquainted with. It wasn’t the sexy side of finance like investment but the key day-to-day principles of business management that are FUNDAMENTAL to surviving as a startup.
Not only did teams become familiarised with accounting concepts like cash-flow and P+L statements, Ed also gave some insights into how they might be able to forecast sales by tracking things such as conversions to sales from dummy facebook ads. A large chunk of the session was dedicated to team actually creating their own live financial models which no doubt will be invaluable moving forward.