Financial Modeling for Startups from Udemy

What's inside

Learning objectives

Model your business in excel
Manage your business based on numbers / kpis
Set well priorities to value creating activities
Pick the right business model for your business idea

You will understand what is important in your business
You will know what kpi you should look at and what are the benchmarks
You will be able to write down your business model in the form of an excel model and to draw conclusion out of it

Model your business in excel
Manage your business based on numbers / kpis
Set well priorities to value creating activities
Pick the right business model for your business idea
You will understand what is important in your business
You will know what kpi you should look at and what are the benchmarks
You will be able to write down your business model in the form of an excel model and to draw conclusion out of it

Syllabus

Introduction

I work with startups, VC and PE funds on daily and I have noticed that despite tones of very good books on lean methods (i.e. Lean Analytics, Running Lean etc.) startups as well as small / medium businesses have problems with applying this knowledge in practice. We have noticed that, especially first time startups, do not really understand their business model (which is totally understandable). That’s why, it is very difficult for them to know what they should concentrate on. Most entrepreneurs / startups have more or less clear business idea but quite often they do not know the business models they have chosen works in practice and they end up learning it the hard way, through their own mistakes. They have even more problems with translating the business idea / business model into coherent Excel model and checking whether the idea is worth trying.

No matter what business you are trying to start it is worth devoting some time and building a financial / business model in the form of Excel. This simple tool will help you estimate the value of your business, see how much cash you need and how your business ideas and KPIs are affecting your business. Once you build the model you can play with it and see how using different assumptions and parameters your profit will change.

The course is based on my 14 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, new business development, improvement and turn-arounds in biggest firms from Retail, FMCG, SMG, B2B and services sector that I worked for. On many occasions I was working on building new businesses and supporting startups. On the basis of what you will find in this course I have trained startup founders, entrepreneurs but also Business Analysts working for PE / VC funds, Investment Directors, Business Development Managers creating new businesses as a part of a bigger corporation.

In this lecture I will share some info on who am I and what is my experience

Here I will talk briefly how the course is organized and how I recommend approach i

Here I will show you what to do if a blurry image appears

Here I will show you how to find additional resources attached to the coruse like Excel files, presentations, links etc.

. In this section you will get insight t into the business model of different e-commerce companies. E-commerce businesses group is very diversified so we will try to show the similarities and the dif

In this section, you will get insight t into the business model of different e-commerce companies. The E-commerce business group is very diversified so we will try to show the similarities and differences between concepts. You will learn here the definition of this business model, and see some examples of companies using this business model. You will also understand what really matters in this sort of business, what KPIs you should look at, and what values you can expect. Afterward, I will show you how you can build the model in Excel and what conclusions can you draw from it.

In this lecture, I will show you examples of firms that work in this specific business model.

In this lecture, I will show you how potential customer flow through your business/sites.

In this lecture, I will discuss the KPIs that you should concentrate on in this business.

It is time to discuss the main challenges in this business

In this lecture, I will show you how you can build the model in Excel and what conclusions can you draw from it.

In this section I will discuss the business model of B2C services i.e. hairdresser, restaurant chains, plumber, electricians etc. I will show you the main challenges they are facing, KPIs that matter

We can be talking about 3 different models in B2C services

Services performed at specialized place no production involved
Services performed at specialized place with some production
Services performed at customer place

I will discuss the differences between them in this lecture

I will shortly go through things that matter in the case of B2C Services performed at specialized place no production involved such as hairdressers, beauty salons and other

I will shortly go through things that are important in other B2C Services such as restaurant chains, services performed at the customer place etc.

In the next lecture I will show you the main drivers of the B2C model and on the basis of this we will create a business model in Excel. I will concentrate on the example of restaurant chain

Excel gives you great opportunities to calculate whether your idea makes sense or not. For this you will use the knowledge you have gathered in the previous lectures on your concept, location and your customers. Excel is obviously less emotion than you and the model you will create here can be used as a cornerstone of your business plans. It shows also to banks and potential investors what is your cash flow. We start with a simple model so you can understand it and learn how to use it.

In this lecture we make more advanced model. We introduce the traffic parameter and show how it is converted first into people that are engaged (stop and enter your restaurant) and later into customers (they buy something from you). Here we will be operating on 2 customer groups: first one eats at the restaurant; second one comes for take-aways. For both customer groups we calculate separate conversion rates and Average ticket (ATV). We still here show you a business model for a 1 restaurant

Finally we show you how to model in Excel a restaurant chain.

This business model has been very popular over the last 5-years and successful companies in this model can grow to be true global players at big scale. Here you will get insight into the business mod

This business model has been very popular over the last 5 years and successful companies in this model can grow to be truly global players at a big scale. Here you will get insight into the business model of a 2-sided market, especially marketplaces. You will learn not only the definition of this business model but you will have also the opportunity to see some examples of companies using these models. You will also understand what matters in this sort of business, what KPIs you should look at, and what values you can expect. Afterward, I will show you how you can build the model in Excel and what conclusions can you draw from it.

In this lecture, I will show you examples of firms that work in this specific business model.

In this lecture, I will show you how the potential customer flows through your business/sites.

In this lecture I will discuss the KPIs that you should concentrate on in this business

Here you will get insight into the business model of Software as a Service companies. You will learn the definition of the business model , see some examples of companies using this business models.

Here you will get insight into the business model of Software as a Service company. You will learn the definition of the business model, and see some examples of companies using this business model. You will also understand what really matters in this sort of business, what KPIs you should look at, and what values you can expect. In the end, I will show you how you can build the model in Excel and what conclusions can you draw from it.

In this lecture, I will show you how the potential customer flows through your business/sites.

It is time to discuss the main challenges in this business.

In this lecture, I will show you how you can build the model in Excel and what conclusions can you draw from it.

Next we will move on to business model of B2B services. They behave a little bit differently than the B2C service. I will show you the main challenges they are facing, KPIs that matter in B2C service, examples of companies. At the end I will show you how to model consulting business in Excel.

I will shortly go through things that are important in other B2B Services.

Here I will share with you some general thoughts on the service business model

Before I show you the model in Excel I want to present you in this lecture the overall logic

I show you in the lecture the model of the consulting firm in Excel. After modifying it you can use it for your purposes (we attach the Excel files to the lecture). This model will let you check whether your business idea makes sense.

Here you will have a look at relatively simple and cheap business model – media site. You will learn the definition of this business, see some examples of companies using this business models.

Here you will have a look at relatively simple and cheap business model – media site. You will learn the definition of this business, see some examples of companies using this business models. You will also understand what really matters in this sort of business, what KPIs you should look at and what values you can expect. Afterwards, I will show you how you can build the model in Excel and what conclusions can you draw from it.

In this lecture I will show you examples of firms that work in this specific business model.

In this lecture I will show you how the potential customer flow through your business / sites.

In this lecture I will discuss the KPIs that you should concentrate on in this business

In this lecture I will show you how you can build the model in Excel and what conclusions can you draw from it.

Other Financial Models

Other Business Models

How to scale up a business – best practices from top firms

Here I sum up the whole course and give you some additional benefits

Bonus Lecture

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Taught by Asen Gyczew, who are recognized for their work in strategy development, performance improvement, and turnarounds

Provides real-life examples, tips, and tricks from the instructors' own experience and other notable examples

Covers four online business models (e-commerce, marketplaces, SaaS, and media sites) and two traditional ones (restaurant and consulting firm)

Emphasizes understanding key business KPIs and metrics for each business model

Guides learners in creating Excel models to evaluate and validate their business ideas

Suitable for startup founders, small and medium business owners, investment directors, and financial analysts

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Modeling for Startups with these activities:

Review the Lean Analytics book

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Build a strong foundation for understanding Lean principles and data analytics for business modeling.

View Lean Analytics: Use Data to Build a Better... on Amazon

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Read Chapters 1-3 to understand the core concepts of Lean Analytics and its benefits.
Complete the exercises at the end of each chapter to apply your understanding.
Summarize the key takeaways from the book in your own words.

Read the Running Lean book

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Gain valuable insights into the Lean methodology and its application to business strategy.

View Running Lean: Iterate from Plan A to a Plan... on Amazon

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Read Chapters 1-3 to understand the core principles of Lean Thinking.
Complete the exercises at the end of each chapter to apply your understanding.
Summarize the key takeaways from the book in your own words.

Watch video tutorials on Excel financial modeling

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Expand your knowledge and skills in Excel financial modeling by seeking out additional resources.

Browse courses on Financial Modeling

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Search for video tutorials on Excel financial modeling.
Watch the tutorials and take notes on the key concepts.
Practice the techniques shown in the tutorials.

Four other activities

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Attend a peer study session

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Enhance your understanding of the course material by engaging in discussions and exchanging ideas with fellow students.

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Find a group of students who are also taking the course.
Schedule a time to meet regularly to discuss the course material.
Take turns leading the discussion and presenting your understanding of the topics.

Develop a business model for a startup idea

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Apply the concepts from the course to a real-world scenario by developing a business model for a startup idea of your choice.

Browse courses on Business Model

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Identify a problem or opportunity that you want to address with your startup.
Research your target market and identify their needs.
Develop a solution that meets the needs of your target market.
Create a financial model that outlines the revenue, expenses, and profits of your startup.

Build an Excel model to evaluate a business idea

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Demonstrate your ability to apply the financial modeling techniques learned in the course to assess the viability of a business idea.

Browse courses on Excel Modeling

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Gather the necessary financial data for the business idea.
Create an Excel model that includes income statements, balance sheets, and cash flow statements.
Use the model to calculate key financial metrics such as revenue, expenses, profits, and cash flow.
Write a report that summarizes the results of your financial analysis.

Attend a workshop on business model development

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Deepen your understanding of business model development through hands-on learning and interaction with experts.

Browse courses on Business Model Development

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Identify a workshop on business model development that aligns with your interests.
Register for the workshop and attend the event.
Participate actively in the workshop by asking questions, sharing ideas, and networking with other attendees.
Follow up after the workshop by implementing what you have learned into your own business model development efforts.

Career center

Learners who complete Financial Modeling for Startups will develop knowledge and skills that may be useful to these careers:

Private Equity Analyst

Financial Modeling for Startups is a highly relevant course for aspiring Private Equity Analysts. The course provides a deep understanding of financial models and how to build them in Excel. This is a critical skill for Private Equity Analysts, who use financial models to evaluate potential investments. Additionally, the course covers a wide range of business models, which will be helpful for Private Equity Analysts who need to be able to understand the financial aspects of a business in order to make investment recommendations.

See salaries and explore the career path for Private Equity Analyst

Financial Analyst

Financial Analysts are responsible for understanding precisely how a business works, which is deeply explored in Financial Modeling for Startups. It is exceptionally well-suited for Financial Analysts because it covers the nitty gritty of financial models at an advanced level. Practitioners of this course learn precisely how to build Excel models that can be used to make critical business decisions. Further, they will attain a deeper understanding of a diverse range of business models. They will conclude the course with a strong foundational understanding of how to analyze a business, which directly relates to the work of a Financial Analyst.

See salaries and explore the career path for Financial Analyst

Business Consultant

The majority of Business Consultants will benefit tremendously from the comprehensive training provided by Financial Modeling for Startups. The course provides a thorough understanding of not only how financial models work, but also how to create them in Excel. Additionally, it covers a wide range of business models, which will be helpful for Business Consultants who need to be able to understand the financial aspects of a business in order to make recommendations. Business Consultants who take this course will be better equipped to add value for their clients due to a deep understanding of how business models impact financial outcomes.

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Budget Analyst

The main objective of Financial Modeling for Startups is to teach students how to build and use financial models. This is a valuable skill for Budget Analysts, who use financial models to create and manage budgets. Additionally, the course provides a solid understanding of financial analysis, which is essential for Budget Analysts who need to be able to understand the financial implications of their decisions.

See salaries and explore the career path for Budget Analyst

Financial Manager

This course may be useful for individuals seeking a career as a Financial Manager. Financial Modeling for Startups offers a deep exploration of financial models and teaches students how to build them in Excel. This skill is highly valued by Financial Managers, who rely on financial models to make financial decisions. Additionally, the course provides a strong foundation in financial analysis, which is essential for Financial Managers. Those serious about becoming a Financial Manager may find that taking this course will provide them with a competitive advantage in this competitive field.

See salaries and explore the career path for Financial Manager

Investment Banker

Financial Modeling for Startups may be useful for individuals seeking a career as an Investment Banker. The course offers a deep exploration of financial models and teaches students how to build them in Excel. This skill is highly valued by Investment Bankers, who rely on financial models to make investment decisions. Additionally, the course provides a solid foundation in financial analysis, which is essential for Investment Bankers. Those serious about becoming an Investment Banker may find that taking this course will provide them with a competitive advantage in this competitive field.

See salaries and explore the career path for Investment Banker

Data Analyst

The foundational elements of Financial Modeling for Startups align well with the responsibilities of a Data Analyst. In many cases, Data Analysts use Excel to organize and analyze data. This course will provide a stronger understanding of how to do that effectively. Further, the course's exploration of key performance indicators will enhance a Data Analyst's ability to perform their duties.

See salaries and explore the career path for Data Analyst

Human Resources Manager

Financial Modeling for Startups may be a good fit for aspiring Human Resources Managers. The course provides a strong foundation in financial analysis, which is essential for Human Resources Managers who need to be able to understand the financial implications of their decisions. Additionally, the course covers a wide range of business models, which will be helpful for Human Resources Managers who need to be able to understand the financial aspects of a business in order to make informed decisions.

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Auditor

Financial Modeling for Startups may be helpful for aspiring Auditors. The course provides a strong foundation in financial analysis, which is essential for Auditors who need to be able to understand the financial statements of a company. Additionally, the course covers a wide range of business models, which will be helpful for Auditors who need to be able to understand the financial aspects of a business in order to conduct an effective audit.

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Venture Capitalist

Venture Capitalists invest in startups and emerging businesses, so this course may be a good fit. It will help these professionals to understand the financial aspects of a startup and make more informed investment decisions. The course covers a wide range of business models, which will be helpful for Venture Capitalists who need to be able to understand the financial aspects of a business in order to make investment recommendations.

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Accountant

While the responsibilities of an Accountant may not seem to align precisely with the material covered in Financial Modeling for Startups, there are some modules that can assist someone seeking this career path. Namely, the course provides a solid foundation in financial analysis, which is essential for Accountants. Additionally, the course covers a wide range of business models, which will be helpful for Accountants who need to make sense of an organization's financial operations.

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Operations Manager

Operations Managers may find the modules on financial metrics and business model analysis in Financial Modeling for Startups to be helpful. Understanding how to analyze a business model can be beneficial to Operations Managers across industries. Additionally, the course's focus on financial metrics can be a valuable skill for Operations Managers who need to be able to measure the financial impact of their operations strategies. Ultimately, this course can help Operations Managers make better decisions about operations strategy.

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Product Manager

Product Managers may find the modules on financial models and business model analysis in Financial Modeling for Startups to be helpful. Understanding how to analyze a business model can be beneficial to Product Managers across industries. Additionally, the course's focus on building financial models in Excel can be a valuable skill for Product Managers who need to be able to understand the financial implications of their product decisions. Ultimately, this course can help Product Managers make better decisions about product development and marketing.

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Sales Manager

Sales Managers may find the modules on financial metrics and business model analysis in Financial Modeling for Startups to be helpful. Understanding how to analyze a business model can be beneficial to Sales Managers across industries. Additionally, the course's focus on financial metrics can be a valuable skill for Sales Managers who need to be able to measure the financial impact of their sales strategies. Ultimately, this course can help Sales Managers make better decisions about sales strategy.

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Marketing Manager

Marketing Managers may benefit from the modules on business model analysis and financial metrics in Financial Modeling for Startups. Understanding how to analyze a business model can be beneficial to Marketing Managers across industries. Additionally, the course's focus on financial metrics can be a valuable skill for Marketing Managers who need to be able to measure the financial impact of their marketing campaigns. Ultimately, this course can help Marketing Managers make better decisions about marketing strategy.

See salaries and explore the career path for Marketing Manager