Finances are always an essential matter in business, and when you are at the beginning of your entrepreneurial journey, they are crucial. To help Serbian entrepreneurs make rational financial decisions, two organizations (Innovation Fund Serbia and Science Technology park Čačak) joined forces and organized webinars with Swiss EP expert Kamen Bankovski.
What were the webinars about?
The goal of the two webinars was to help business founders to plan the future of their companies. To be more specific, points that were covered during webinars were:
- Key concepts and main revenue and cost drivers break-down
- Financial modeling
- Relevance for Fundraising
At the first webinar, participants learned how to observe and understand their finances. Kamen gave an interesting analogy comparing finances with a time-traveling machine – using key insights from the past, you can gauge key metrics in the present and plan for the future. The focus of the webinar was on three crucial statements in finances for every business owner:
- Income statement
- Cash flow statement
- Balance sheet
These instruments enable you to make plans for the future based solely on your financial data.
While the first webinar was focused on the future component of the finances, the second addressed the past and the present. Participants were learning about the importance of bookkeeping, accounting and tracking finances. Kamen emphasized the importance of the cash flow and accurate tracking of money passing through a company.
Who is Kamen Bankovski?
The lecturer on this webinar was Kamen Bankovski.
Kamen is from Bulgaria, where he works as a financial expert. His primary clients are coming from Data, Cloud, and Advanced Software Engineering fields. As you can guess, Kamen’s focus is on financial management in the IT industry.
Besides working with many different companies, he is also working with VC funds in Bulgaria to set up their financial structures and track their investment. At the moment, Kamen is the principal/investment manager of Vitosha Venture Partners, Advisory Board member of Indeavr (software company), and mentor to several startups.
Feedback from the webinar
After the webinars, we reached out to the organizers and asked for their feedback. Here is what they said:
We really appreciate the preparation Kamen did for both webinars, especially his efforts to give quality examples and practical tips. He delivered what we expected with a lot of tools and excellent illustrations.Innovation Fund Serbia
Great webinars! We spoke with participants (companies), and they say that the tools and examples shared by Kamen were precious. And we agree, these were excellent webinars.Science Technology Park Čačak
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