Financial Fundamentals: Business Planning and Financing for Start Ups

Photograph: Rick LeJuerrne presenting at Washburn Law.Statistically, over half of the adults in the United States have thought about starting a business. Through working with the Washburn Small Business Development Center and owning a practice assisting some of these entrepreneurs, Professor Rick LeJuerrne has had substantial experience with business planning and financing for startup companies. LeJuerrne shared his experience with Washburn Law students on October 17, 2018, as the fourth speaker of the Business and Transactional Law Center's Fall 2018 Financial Fundamentals Series. LeJuerrne, a lecturer at Washburn University School of Business and the owner of Flow Capital LLC, helped students understand how to provide legal and business consulting services to new companies.

LeJuerrne began with a description of entrepreneurs and their value as clients in the legal field. He explained startup companies' typical characteristics, and their need to leverage resources to succeed. LeJuerrne encouraged students to be aware of ways to engage with new business owners in their community in practice.

LeJuerrne also explained the nine building blocks of successful business models. He explained how key partners, key activities, key resources, value propositions, customer relationships, channels, customer segments, cost structures, and revenue streams all work together, and the ways that they feed into each other. Professor LeJuerrne emphasized the value in being able to identify how a business solves a problem and serves the customer segment.

LeJuerrne provided students with documents to follow along as he explained the make-up of an industry report, financial statements, income statements, and balance sheets.

Washburn Law thanks Professor LeJuerrne for taking time from his teaching and business to help the Business and Transactional Law Center provide the Fall 2018 Financial Fundamentals Series.

Photograph: Students at Washburn Law listening to a financing for startups presentation by Rick LeJurrne.