Startup Alleghenies is a dedicated program that plays a pivotal role in fostering entrepreneurship and business development.
Startup Alleghenies, a program dedicated to fostering entrepreneurship and business development, featured speakers Dr. Wei-Chung Wang and Joey DiGangi from W.D. Strategies at their 2022 Finance Bootcamp. The presentation aimed to help small businesses understand the application and impact of financial statements.
The client serves the local business community and regularly introduces them to industry experts as they grow their entrepreneurial ventures.
In addition to the topic-focused discussion of how to analyze the three key financial statements, Dr. Wang and Joey zoomed out to the 30,000-foot level to analyze the business models of enterprises like Costco and Amazon. By reviewing the details of these companies, the entrepreneurs could extrapolate the economic drivers behind the global giants' success. Understanding the core principles behind what drives success for marketplace winners helps plan for a successful financial strategy. For example, from Costco's detailed P&L, we can see how the recurring revenue component of their membership program is the core of their business model, while their product sales produce what could be considered as ancillary revenue. This led some entrepreneurs to consider what this means for them on a smaller scale. Should they consider loyalty programs to drive repeat business? Would introducing a subscription offer on perishable goods lead to a more stable monthly revenue position?
In 2022, as part of their Finance Bootcamp, Startup Alleghenies featured Dr. Wei-Chung Wang and Joey DiGangi, the CEO and COO of W.D. Strategies, as speakers. Their presentation aimed to provide valuable insights to small businesses, helping them comprehend the application and impact of financial statements in their operations.
The presentation covered three fundamental financial statements that businesses need to evaluate:
By analyzing these financial statements, businesses can make more informed financial decisions and chart a more informed path forward. The collaboration between Startup Alleghenies and W.D. Strategies underscores their commitment to equipping small businesses with the knowledge and tools they need to thrive and succeed in the ever-evolving business landscape.
You can watch a clip from the event below:
Client Testimonial
Written by
Ready to work with our team of experts? Let's get started with a free introductory consultation. Use the button below to schedule a time that works for you & we'll get started from there.
Free Consultation419 14th Street, Suite 201
Huntingdon, PA 16652
Copyright 2020 - 2023
.png)
