Course helps business owners focus on finances

Taylor Tompkins By Taylor Tompkins

July 10, 2016 at midnight
Updated July 11, 2016 at 6 a.m.

Mike Gonzalez thought he knew the numbers involved with his construction business, but he found out he had no idea.

"I'm not even close," Gonzalez said.

He was one of a handful of business owners who recently took the Profit Mastery course held by the Small Business Development Center.

The course spanned two days and walked the business owners through how to calculate and track their cash flow, price and growth.

"I learned more how to keep that money in the business instead of splurging or spending it," Gonzalez said.

The owners had their heads bent over graph paper, drawing lines between plotted points of a simulated profit. A man on the screen wearing a sweater and round-rimmed glasses was explaining what the correlation is between profit and expenditures.

Business advisor Mark Martinez led the class through questions, explaining how the business owners could use this and how it fit into their businesses.

Joe Humphreys, director of the Small Business Development Center said most business owners focus on their product or service when they start, and typically have no experience with financials involve.

Cari Laza, owner of Carilaza Designs, said the class helped her take a break from her crazy day-to-day and focus on her financials.

"It's forcing us to focus on our financials when me, normally it's the last thing I want to think about, it's the last thing I want to do," Lazas said. "At least now, even if it is for just two days, I am devoting my time and my mind to this. I am thinking about this. This is what I need to be doing."

The class costs $395, however, Victoria College can give business owners scholarships to attend the class.

For Gonzalez, he said it has changed the way he is looking at his business.

"At the end of the year, I say 'Mike, you've brought in $300,000' and I look at my bank account and it's like 'where's that?'" Gonzalez said. "Now it's like, wow, I need to put it to work."



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