Dr.Ninko Kostovski

Business Consultant, Corporate Trainer 
and University Professor


Work with companies and facilitation of their:

Market Research

Strategic Planning

Growth and Restructuring

Access to Finance

Business Systems Implementation  

Executive Training

Understanding Finance

The course is designed in two parts. During the first part, the participants are introduced into the fundamental principles and concepts of contemporary finance in order to refresh (or acquire) the basic terminology. By the end of this part they are capable to ?read? standard financial reports, calculate and interpret the financial performance ratios derived from these reports. Then, the course gradually moves from Accounting to Financial Management, covering the Cost Classification and Cost Behavior, Short-Run Decisions and Capital Budgeting. The last part of the course covers the Responsibility Accounting and Performance Management.

How to Finance Growth

A stable growth of a business requires considerable amount of capital. How to obtain the needed financing for various stages of company growth? How and when to enter into a partnership? Is it wise to pay your people with shares when you are short of cash? Are there more preferred or most appropriate sources of finance for various stages of the business life cycle? Advantages and disadvantages of various external investors, from informal up to institutional: family, friends, vendors, workers, business angels, micro-loans, development bunks, grants, equity investors. What particular investors look for in your teasers, business plans investment proposals? What is the cost of capital from various external investors? How to calculate it? Using strategic simulation participants will be in position to switch the roles and assess own proposals from the shoes of the investors.

How to Wisely Invest

This course is introduction into the contemporary principles of the financial decision making in case of long-term assets (property, plants, equipment, rights, and businesses) and the specific differences in comparison with the pure financial investments. Upon the competition of the course participants able to recognize standard decisions and are able to apply proper method for assessment.  They will become fully aware about the challenges and limitations of the capital budgeting in the contemporary business settings (globalization, free trade, extensive use of information and telecommunication technology for business.

How to Manage Working Capital

This course is designed to introduce the participants into the principles and techniques of effective management of their working capital: Inventories, Cash on Hand, Accounts Payable and Receivables. Who should attend? Owners, managers, procurement officers, operation managers, sales and marketing and others who with their everyday operations affect the level of working capital needed. The topics covered are: Objectives of Working Capital Management; Planning the Level of Inventories; Optimizing the Accounts Payable, Cash on Hand and Receivables; Setting up Formalized Collection of Receivables and Late Payments; Working Capital Management as Inter-Functional task.

 How to Control Your Costs Effectively

The Course is designed in a way to allow participants to obtain profound insight into the concept of costs and the cost management, as well as into the various methods and procedures for decision making based on the cost analysis. They learn how to make sound decisions based on their knowledge of the relevance of the various types of costs.  As an optional part of the Course, an In-Company Workshop for participants presumably from same company to work on development of own system of gathering the cost related saving idea proposals, their evaluation and their implementation into practice.

Conquering the Management Process

Essentials of strategic management for contemporary leaders! Participants will become familiar with the entire process of strategic management (i.e. strategic planning, implementation and control). If the participants are from a single company or a group then the course involves a workshop on actual design of the strategic plan. 

 Project Management Fundamentals

This Course is a comprehensive introduction to the key concepts of Project Management. The participants (senior managers, team leaders) review the policies and procedures needed to manage the successful execution of a project through the development of a project plan. They will learn how to set goals, manage time, assess resources, balance budgets and plan strategies for project implementation. After a successful completion of the Course, the participants understand and able to demonstrate competency in management of projects, share the best practices and use software tools for project management. Topics covered are: Concept of Project; PLC, Project Management; Building the Team; Progress Tracking and Evaluation; Scope Control, Schedule & Budget Control. After the competition of the Course, participants are able to introduce project work in their organizations and thus improve significantly the overall prospects of the success of their activities.  



All courses are delivered through facilitated discussion, group work on case studies and presentation of the findings of each of the groups to the other participants (app. in slots of 30% of the total time). The remaining 10% of the time is used for introductory and wrap up sessions.


Ideally, the venue should be far from the regular job setting of the participants. Ideal places are business centers in hotels or motels near some pleasant place. By choosing appropriate venue for the course, a positive perception of the entire event is created and the learning and acquiring of the skills process turns into positive experience for the participants.