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Financial Basics for Product Managers
YOUR PATHWAY TO SUCCESS
This intensive 5-day course equips product managers with the essential financial knowledge to make sound business decisions. Participants will learn about key financial concepts, including financial statements, budgeting, forecasting, and profitability analysis.
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Course Duration
5 Days
Course Details
This intensive 5-day course equips product managers with the essential financial knowledge to make sound business decisions. Participants will learn about key financial concepts, including financial statements, budgeting, forecasting, and profitability analysis. The course covers topics such as revenue recognition, cost accounting, pricing strategies, and financial metrics. Real-world examples will illustrate how financial understanding can drive product success.
This course emphasizes practical application and real-world scenarios. Participants will analyze financial statements, develop budgets, and evaluate the financial viability of product ideas. We’ll explore various financial tools and techniques, learn how to calculate key financial metrics, and understand how to communicate financial information effectively to stakeholders. By the end of this course, participants will be equipped with the financial fluency needed to make informed product decisions and contribute to the financial success of their products.
By the end of this course, learners will be able to:
- Understand basic financial statements (income statement, balance sheet, cash flow statement).
- Develop and manage product budgets.
- Forecast product revenue and expenses.
- Analyze product profitability.
- Make informed pricing decisions.
- Product managers
- Product owners
- Marketing professionals
- Anyone involved in product development and management
Course Outline
5 days Course
- Introduction to Financial Statements:
- What are financial statements? Definition, purpose, and types.
- Income statement: Revenue, expenses, and profit.
- Balance sheet: Assets, liabilities, and equity.
- Cash flow statement: Cash inflows and outflows.
- Practical exercise: Analyzing a company’s financial statements.
- Budgeting and Forecasting:
- Product budgeting: Developing a budget for product development and marketing.
- Revenue forecasting: Predicting future product sales.
- Expense forecasting: Estimating product costs.
- Practical exercise: Developing a budget and forecast for a product.
- Profitability Analysis:
- Gross profit, operating profit, and net profit.
- Profit margin analysis.
- Cost accounting: Fixed costs and variable costs.
- Practical exercise: Analyzing the profitability of a product.
- Profitability Analysis:
- Pricing Strategies:
- Cost-plus pricing, value-based pricing, and competitive pricing.
- Pricing models: Subscription pricing, freemium, and tiered pricing.
- Pricing optimization.
- Case study: Analysis of different pricing strategies.
- Pricing Strategies:
- Financial Metrics and Communication:
- Key financial metrics: ROI, NPV, and payback period.
- Communicating financial information effectively to stakeholders.
- Financial reporting and analysis.
- Practical exercise: Preparing a financial report for a product.
- Financial Metrics and Communication:
