Financial Modeling for Startups (Udemy.com)

Why have I decided to create this course?   

I work with startups, VC, and PE funds daily, and I have noticed that despite tons of very good books on lean methods (e.g., 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 a more or less clear business idea, but quite often they do not know how the business models they have chosen work 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 a 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 to 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.   

This course is based on my 15 years of experience as a consultant in top consulting firms and as a Board Member responsible for strategy, performance improvement, and turn-arounds in the biggest firms from the Retail, FMCG, SMG, B2B, and services sectors that I worked for. I have carried out or supervised over 90 different performance improvement projects in different industries that generated a total of 2 billion in additional EBITDA. On the basis of what you will find in this course, I have trained in person over 100 consultants, business analysts, and managers who are now Partners in PE and VC funds, Investment Directors and Business Analysts in PE and VC, Operational Directors, COO, CRO, CEO, Directors in Consulting Companies, Board Members, etc. On top of that, my courses on Udemy were already taken by more than 355 000 students, including people working in EY, Walmart, Booz Allen Hamilton, Adidas, Naspers, Alvarez & Marsal, PwC, Dell, Walgreens, Orange, and many others.

What will this course give you?   

The course is a practical, step-by-step guide loaded with tons of tips and tools that will help you significantly speed up your business, especially if you are a startup or a small/medium business. There is little theory – mainly examples, a lot of tips from our own experience, as well as other notable examples worth mentioning. Our intention is that, thanks to the course, you will know:   

1. What is your business model about, what to concentrate on, and what the key KPIs are for you?   

2. How can you translate it into Excel and evaluate your business?   

3. How to make conclusions on the basis of your business model presented in the form of an Excel file

In this course, I will talk about 4 online business models: e-commerce, marketplaces, SaaS, media sites, and 2 more traditional ones: restaurant and consulting (service) firm   

How is the course organized?   

Currently, the course is divided into 7 sections:   

• Introduction. In this section, I give you a quick  overview of the purpose and approach we will use in each and every section   

• E-commerce business model.  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 you can draw from it.   

• B2C Services. In this section, I will discuss the business model of B2C services, e.g., hairdressers, restaurant chains, plumbers, electricians, etc. I will show you the main challenges they are facing, the KPIs that matter in B2C service, and examples of companies. We will go into more detail when it comes to the restaurant chain, and I will show you how to model it in Excel   

• 2-sided market business model. 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 on 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 also have the opportunity to see some examples of companies using these 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. Afterward, I will show you how you can build the model in Excel and what conclusions you can draw from it.   

• SaaS business models. Here, you will get insight into the business model of a Software as a Service company. You will learn the definition of the business model and see some examples of companies using these 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. In the end, I will show you how you can build the model in Excel and what conclusions you can draw from it.   

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

• Media site business models.  Here you will have a look at a relatively simple and cheap business model – a media site. You will learn the definition of this business, and see some examples of companies using these 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. Afterward, I will show you how you can build the model in Excel and what conclusions you can draw from it.   

You will also be able to download many additional resources   

1. Models in Excel shown in lectures