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In this course, you will learn to create a basic but highly professional financial model in less than 2 hours. You will learn finance and accounting principles such as how to build a set of integrated financial statements, and you will leave with the skills and tools to build a professional-quality financial model.
You will get a free 2-week trial of the SpringExcel financial model template or use promo code UDEMY50 to get 50% off when you upgrade to the paid version ($50 value).
You should take this course if you want to:
This course is designed to be helpful for people who are learning finance, accounting or entrepreneurship as well as people who just want to create a quality financial model for their business. It was created by an MBA-trained entrepreneur who has made financial models to raise over $20M for multiple startup technology companies.
In order to maximize the speed of your learning, this course is intended to be used with the SpringExcel financial model template, which uses Microsoft Excel and is free to download. There are a total of 9 videos totaling less then 2 hours in length, with additional presentation slides to teach you financial modeling best practices. Follow along on your computer as I build a financial model for a fictitious startup called Waggsy. By the end, you will understand how to setup a financial model and you will quickly learn a few modeling best practices that take many professionals years to develop.
You could complete this course in one sitting or spread it out over a few days.
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Desktop, iOS and Android.
Certificate of completion.
|Section 1: Getting started|
Intro to Financial Statements
The SpringExcel Template
|Lecture 6||1 page|
Enter promo code UDEMY50 for 50% off when you purchase a copy of our financial model template after the free trial period expires. To find the financial model template, type "Two Hour Financial Model" into google and click the link.
|Section 2: Tutorial Videos|
The first step is to outline your assumptions. Throughout this course you will follow along as we create a financial model for a fictitious canine-focused mobile app startup called Waggsy.
Here is a link to the inputs template used for the Waggsy example.
Next, we'll model revenues, starting with identification of key drivers (revenue = price x volume). Be sure to have your business model assumptions clear before you being this step!
Variable costs are costs that change in proportion to the number of goods or services sold, as opposed to fixed costs, which will remain relatively constant irregardless of revenues. In this lesson we walk through how to model variable costs using the template.
Overhead costs include all costs except for the costs that are directly related to making the product (which are COGS). In this lesson we will show how to model variable costs by entering information on the assumptions worksheet and by entering overhead costs directly into the model.
Employee salaries are generally the major cost for any startup. In this lesson we show a quick way to enter salary information (including payroll tax and benefits) in a way that scales as the organization grows.
Capital Expenditures (CAPEX) are usually equipment purchases. These may or may not be very important depending upon the type of business you are modeling. In this lesson we show a quick way to model CAPEX and estimate depreciation expenses without wasting a ton of time.
Working capital is the cash required to run a business. It's current assets (accounts receivable & inventory) minus current liabilities (accounts payable). In this lesson we give you a quick & easy way to model working capital that will work for 95% of businesses.
Finally, we get to the financing section. With the rest of your forecast more or less in place, you'll be able to see any equity financing requirements. Any assumptions you enter will be automatically included in the financial statements, so you can track how this works from an accounting standpoint.
SpringExcel comes equipped with integrated financial statements as well as a number of pre-made charts. This lesson shows you how to make sure these charts and statements are connected to your model.
|Section 3: Getting the Financial Model Template|
I first learned to create financial models while I was working at the world's largest natural resources company. Then, I became interested in entrepreneurship while I was getting my MBA and I started applying my modeling and business model generation skills to helping my teams win several business plan competitions. Since then, I have created financial models used to raise over $20 million from corporate strategic investors and venture capital firms for startups.
I have learned that creating excellent financial models is both an art and a science. A good financial model is:
A financial model can also be a huge potential time sink if you let it get out of hand. This is why it's important to focus on testing your business assumptions rather than trying to invent a new Excel framework from the ground-up. I created SpringExcel for a similar reason to why Rails & Django exist as web frameworks - to try to save people time so they can spend more of their time adding value in ways that are unique to their business.
Whether you are trying to learn modeling to get a job or you need to create forecasts for your startup, I hope that this course is helpful and is an efficient use of your time.
I am constantly working to improve this course and model template so please feel free to send me any feedback.