All Courses - ERO Financial

Module 6 – Solving the Pricing Dilemma

Don Connelly — Tue, 25 Aug 2026 20:22:16 +0000

Every product, project, and service needs a price — and getting it wrong can sink a business. This module gives you a step-by-step method to price from your costs and your profit goal. You’ll learn to separate direct and indirect (allocated) costs, define full cost, calculate COGS and break-even, choose a profit goal, and hold your own against the competition while you do it.

Learning Objectives

Introduce the pricing concept and the three methods of pricing products, projects, and services
Compare direct costs versus indirect (allocated) costs when pricing an item
Define the full cost concept and explain how to calculate the cost of doing business
Explain how to calculate cost of goods sold (COGS)
Explain how to calculate the pricing break-even point
Identify the three methods used to determine the profit goal: the lump sum method, the sales volume method, and the return on investment method
Identify the five steps in pricing a product to be sold
Explain how the economic concept of supply and demand impacts pricing
Explain the three alternatives an entrepreneur must consider if she is not price competitive
Explain how a business owner may gain a competitive advantage

Module 5 – It’s ALL About Sales

Don Connelly — Tue, 25 Aug 2026 19:19:23 +0000

Revenue is the engine of every business — and revenue comes from one daily act: making sales. This module makes the case that every business activity must ultimately serve the sale. Follow Beth and her family as they prepare the Corner Bakery for its rookie year — learning to forecast from historical sales data, set bold sales goals, find your market niche, and plan the branding, social media, and marketing calendar that drive the top line.

Learning Objectives

Explain how historical revenue data aids a small business owner’s sales forecasting
Explain the importance of sales goal setting
Identify sales activities required to boost sales 20% annually
Explain how managing sales activities aids in reducing overhead expenses
Illustrate how market research impacts sales profitability
Explain the relationship between inventory control and net profit
Explain how identifying a new market niche is an ongoing sales activity
Explain how higher profit margins influence sales revenues
Introduce the Marketing Calendar Tool
Explain how social media and branding influence sales activity

Module 1 – Introduction to Financial Literacy

Don Connelly — Fri, 05 Aug 2022 20:50:40 +0000

Entrepreneurial Recipe Online is designed to immerse students in the fundamental aspects of an entrepreneurial mindset and the unlimited opportunities it can provide. A comprehensive facilitator guide is available for classroom delivery. Students who complete this course should be able to master the following learning objectives:

Learning Objectives

Master financial literacy skills as a prerequisite to any risk-taking endeavor
Establish goal-setting and time management skills
Develop critical thinking skills enabling them to identify and evaluate entrepreneurial opportunities
Understand the process that enables entrepreneurs to transform a simple idea into a sustainable success
Understand and apply fundamental aspects of entrepreneurial thinking across disciplines and as a means of personal empowerment
Establish goals, identify resources and determine the steps required to accomplish their goals
Identify and job shadow local entrepreneurs and business owners within their own communities

Module 2 – Introduction to Financial Documents

Don Connelly — Thu, 17 Feb 2022 18:36:11 +0000

Follow Beth Smith as she works with her banker to prepare the financial side of the Corner Bakery. In this module you’ll meet the three essential financial documents — the balance sheet, the income statement (P&L), and the cash flow statement — and learn how funding, credit, and taxes shape the financial life of a small business.

Learning Objectives

Explain the purpose and components of the three essential financial documents: the balance sheet, the income statement (P&L), and the cash flow statement
Understand the relationship between the three financial documents and how they work together
Understand the difference between a personal entity and a business entity
Explain the components and purpose of the balance sheet
Explain the components and purpose of the income statement (P&L) and how to monitor revenues and expenses
Explain the components and purpose of the cash flow statement and how it supports forecasting
Explain the impact of accounts receivable, inventory, and accounts payable on the P&L and the cash flow statement
Explain why a small business must be profitable and the entrepreneur’s role in monitoring profits
Explain FICO scores and their impact on business loans
Show how sales and expenses are reported on the 1040 federal tax return and Schedule C (Form 1040)

Module 3 – Surviving the Cash Flow Woes

Don Connelly — Sat, 15 Jan 2022 14:50:20 +0000

Cash is the lifeblood of any business — and running out of it is how most small businesses fail. In this module you’ll follow Beth Smith as she works to keep the Corner Bakery’s cash flowing. You’ll learn to read and build a cash flow statement, forecast cash flow, manage working capital, and understand your break-even point so you can survive the cash flow woes that sink so many new owners.

Learning Objectives

Explain the purpose and components of the cash flow statement (CFS)
Illustrate the flow of cash through a business using the cash flow cycle
Show the relationship between the income statement (P&L) and the cash flow statement
Differentiate between the balance sheet, income statement, and cash flow statement
Explain how to forecast cash flow projections
Explain how the business owner uses a line of credit in relation to the cash flow statement
Explain how to manage working capital to maintain a positive cash flow
Identify the two types of insolvency: cash flow insolvency & balance sheet insolvency
Explain a banker’s lending criteria when reviewing cash flow budgets
Explain how to calculate the break-even point

Module 4 – Analyzing the Income Statement

Don Connelly — Wed, 15 Dec 2021 15:01:10 +0000

Your income statement — the profit and loss (P&L) — tells you whether your business is actually making money. This module teaches you to build, read, and analyze an income statement, and to use it to manage your business day to day. You’ll learn to calculate cost of goods sold and gross margins, understand the ratios bankers use, and report net profit on Schedule C and Form 1040.

Learning Objectives

Introduce the components of the income statement worksheet
Explain how to use the income statement (P&L) to manage your business
Compare the relationship between the various financial documents
Explain how to calculate cost of goods sold (COGS)
Explain how to calculate gross margins from sales data and how they impact profitability
Explain how current ratios are used by bankers based on the business P&L
Calculate the degree of solvency based on data from the income statement
Explain how insufficient working capital affects decision-making
Explain the difference between the Schedule C and Form 1040
Explain how net profit is reported on the Schedule C and Form 1040