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🧭 Session 10: Goal Setting & Accounting Software

🔍 Overview

This session focuses on setting clear, measurable goals for your business and introduces the tools and systems to help track financial performance through smart recordkeeping and accounting software. Entrepreneurs will learn the importance of internal controls, how to manage cash effectively, and how to choose software that fits their business needs.

🧠 Learning Objectives

  • Use the S.M.A.R.T. Goal Framework: Learn how to define actionable and strategic business goals.
  • Implement Effective Cash Management & Recordkeeping: Understand best practices for tracking, storing, and reconciling your financial data.
  • Establish Internal Controls: Identify ways to protect your financial resources and reduce fraud or error.
  • Evaluate Accounting Software Options: Get familiar with key platforms like QuickBooks, Wave, and FreshBooks to streamline your bookkeeping.

📝 Pre-Session Assignments

  1. Review the Session 10 PowerPoint Presentation
  2. Outline 3 short-term business goals and apply the S.M.A.R.T. criteria
  3. Review your current recordkeeping and banking setup

📄 Business Plan Focus

This session supports refining your Operations & Financial Systems section by addressing:

  • Business Goals: Short-term and long-term outcomes tied to business growth
  • Recordkeeping Systems: How you will track income, expenses, and performance
  • Accounting Strategy: What tools will you use to manage your books?
  • Internal Controls: Systems to safeguard your financial information

📚 Additional Resources

💡 In-Class Activity

  • Break into small groups to workshop a S.M.A.R.T. goal
  • Live demo of popular accounting software platforms
  • Share your current bookkeeping method and explore a plan to improve or digitize

GET INSPIRED BY ANOTHER FOUNDER’S STORY!

In this episode of How I Built This, Tristan Walker shares how he identified a significant market gap and set out to fill it with purpose-driven products. He discusses the challenges of securing funding, building a brand that resonates with underserved communities, and the strategic decisions that led to the acquisition of his company by Procter & Gamble. Walker’s insights highlight the critical role of goal setting and financial planning in scaling a business and making a lasting impact.

LISTEN NOW!
Session 9
Session 11