Operations, Finance, and Legal Essentials

This unit develops practical skills for managing the operational, financial, and legal aspects of a small business, including ownership choices, taxes, cash flow, and day-to-day operations. Students will apply due diligence, control expenses, manage inventory and vendor relationships, and align human resource and tax strategies with business goals to prepare for launch and sustainable growth.

Learning Objectives

• Analyze and compare ownership and entry options (start-up, buy a business, franchise, partnership, MLM, work-from-home), conduct due diligence, and recommend the best-fit option based on risk, cost, and strategic alignment
• Apply financial management techniques to control expenses, manage cash flow versus profit, compute and interpret key financial ratios and percentages, and integrate tax strategies (including employment taxes and pass-through deductions) into operational decisions
• Demonstrate operational management capabilities by designing flexible organization charts, selecting appropriate management tools, and developing plans for inventory control, vendor relationships, distribution channels, and promotion tactics
• Evaluate human resource and personal finance considerations post-launch—such as hiring/firing procedures, use of accounting professionals, time management, and tax-wise spending—and create actionable plans to address them