I have always known I was good with people and good with numbers, but not reporting them. This class has been so extremely beneficial because it has shown me easy ways to keep track of all sales and make sure I do everything the legal way. All this takes is a little bit of work once a week to see the rewards. We also learned how to use Quickbooks and Do Pro-formas to make sure an investment is worthwhile. Learning how to do a pro-forma is critical for a business owner. If you don’t know how to build one you at least need to know how to read one. Building pro-formas show that we can actually have a successful business, it shows all projections to see if you are in the red or green. In this class we all go to pick a company to work on the entire semester so for me I chose True Gentleman. Throughout the semester a group of other students including myself worked on different aspects of business finance for TG. This was basically like having free workers. We also got to go to OC tanner labs and see how their production took place. They are so efficient It made me think about how to possibly make my production for suits and shirts more efficient.
How This Class Helped Me
Now that it has been a few years since I was in this class I continually reflect back to the basics. I have hired a CPA who can talk numbers with me and I actually understand what he is talking about.
The thoughts I had when touring OC tanner have sat with me for a long time. I now have full control of the manufacturing of my suits. I have built out software on line that a customer can design a suit themselves. This saves me tons of time when working with existing customers. Build a Suit.