Financial Literacy Workshop for Women
January 9-10, 2023
CohnReznick
1301 6th Ave, New York, NY 10019
This two-day financial fitness workshop aims to provide women and non-binary hospitality entrepreneurs at all stages of their career—from looking to turn idea into operation to growing one’s existing businesses—with the financial literacy training they need to get to their next level. The workshop will take place at CohnReznick.
Day 1 will focus on getting ready to ask for money, from building the right mindset (confidence is key!) and determining how much to ask to identifying funding options and knowing how to ask.
Day 2 will focus on future-proofing your business, from building a variety of revenue models to identifying and using various technologies available.
Program and Schedule
January 9
8:45-9:15 A.M. Registration
9:15-9:30 A.M. Welcome
9:30-10:00 A.M. Getting Into the Money Mindset with Ita Ekpoudom
10:00-10:30 A.M. What Do You Need Money For? with Stephen Mancini and Stephanie O'Rourk
10:30-11:00 A.M. Identifying Funding Sources with David Spungen
11:00-11:15 A.M. Networking Break
11:15-12:30 P.M. Good and Bad Business Plans with Jeff Cherry, Chris Lyons, Katherine Rice, and David Spungen
12:30-1:15 P.M. Lunch
1:15-2:00 P.M. Determining How Much You Need with Stephen Mancini and David Spungen
2:00-3:00 P.M. Building a Relationship with Funders / Asking for Money with Umber Ahmad, Jen Pelka, and Jen Zeszut
3:00-3:15 P.M. Networking Break
3:15-4:00 P.M. Practice Pitching with Confidence
4:00-4:30 P.M. Break
4:30-6:30 P.M. Cocktail Party at the Beard House
January 10
9:00-9:15 A.M. Welcome and Takeaways from Day 1
9:15-10:00 A.M. ABCs of Restaurant Financial Statements with Dylan Gully, Irene Li, and Stephanie O'Rourk
10:00-11:00 A.M. How Can Technology Make You as Financially Efficient as Possible with Lauren Byrd, Samantha Finkelstein, Stephen Mancini and Britney Ziegler
11:00-11:15 A.M. Networking Break
11:15-12:00 P.M. Operational Efficiencies in Practice with Adriane Mack
12:00-12:30 P.M. Building Alternative Revenue Sources – Part 1 with Stephanie O'Rourk
12:30-1:15 P.M. Lunch
1:15-2:15 P.M. Building Alternative Revenue Sources – Part 2 (CPG) with Irene Li and Jen Pelka
2:15-3:15 P.M. Building Business Longevity/Scaling Up with Sarah Diehl, Elizabeth Meltz, Jacqui Maguire, and Stephanie O'Rourk
3:15-3:30 P.M. Networking Break
3:30-4:00 P.M. Commit to Confidently Ask for Money with Ita Ekpoudom
Session Descriptions
Getting into the Money Mindset
Confidence is key! Learn how to build the right mindset to be successful in asking for money and communicating about your business
What Do you Need Money For?
Gain a firm understanding of the different stages and purposes of raising capital and when it’s best to be raising money
Identifying Funding Sources
Understand the different types of restaurant funding available and the pros and cons of each
Good and Bad Business Plans
Learn from a panel of seasoned investors what to do – and what not to do – when developing and presenting a business plan
Determining How Much You Need
Learn how to create a financial model of your business that helps you quantify how much you need to raise. Better understand the pros and cons to raising more vs. less money, sooner vs. later
Building a Relationship with Funders / Asking for Money
Learn strategies and resources to expand your network, deepen funding relationships, and confidently pitch prospective investors from those who have successfully done it in the past
Practice Pitching with Confidence
Break into groups and apply what you’ve learned towards your own practice pitch
ABCs of Restaurant Financial Statements
Increase your confidence in interpreting financial statements and using them to improve the operations of your business. Learn about some common pitfalls to avoid and what the important metrics are to focus on and why
How Can Technology Make you as Financially Efficient as Possible
Gain insights from a panel of restaurant tech experts about how to effectively use technology in different ways to optimize your operations and resulting financial health.
Operational Efficiencies in Practice
Learn about some best practices and tools to optimize your operations – specifically through menu management, staffing models and supplier negotiation strategies
Building Alternative Revenue Sources – Part 1
Learn how to think about the financial impact of starting a new business line and source of revenue
Building Alternative Revenue Sources – Part 2 (CPG)
Gain valuable insights on how to expand and/or pivot your restaurant business to CPG from experienced operators
Building Business Longevity / Scaling Up
As your business grows, its needs change. Get guidance on how to think through implementing the changes today that will make you successful tomorrow. Areas covered will include financial controls, team structure to support growth, comp policies, competitive benefits and legal compliance
Commit to Confidently Ask for Money
Synthesize all learnings and come up with actionable next steps