On July 3, the next training on “Revenue Model and Financial Planning” was organized within the framework of the “Ignite” Incubation Program implemented at Azerbaijan State Oil and Industry University (ASOIU).
During the training, participants were provided with detailed information on financial planning of startups, building a sustainable revenue model, and assessing the economic efficiency of a business. Within the framework of the session, the concepts of software service model, business-to-business and business-to-customer sales models, pricing strategy, single economic indicators, cash flow, and financial expenditure were explained with practical examples.
Orkhan Ahmadov, founder of Mentor, Bonpara, and ecomX, shared his practical knowledge and experience with the participants on financial management and preparation of the initial budget of startups.
The training, organized in an interactive format, continued with discussions, real examples, and analyses of the participants’ business ideas. Participants had the opportunity to assess the financial potential of their startups and form a more effective business model through the presented methods and approaches.
The main goal of the training was to provide participants with practical knowledge and skills on ensuring the financial sustainability of startups, choosing the right revenue model, and formulating business development strategies.
