Financial Modeling in Excel for Startups

Learn to create a financial model for a startup business from scratch using Microsoft Excel from startup expert Chris B.
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1,085 students enrolled
Instructed by Chris Benjamin Business / Finance
$50
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  • Lectures 54
  • Contents Video: 5.5 hours
    Other: 14 mins
  • Skill Level Beginner Level
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 1/2014 English

Course Description

Financial Modeling in Excel for Startups - Learn how to build an investor quality, dynamic and error free budget/forecast for your company.

As an entrepreneur, you will have many uses for a budget/financial model. If you are looking for investors, one of the first things someone will ask for is your projections. As well for your own peace of mind, don't you want to be able to forecast forward and see how the business will perform given a set of assumptions? All of this can be accomplished with a solid financial model.

This course will be taught primarily by following along in Excel as we build a financial model for a fictional company. We will start with a completely blank Excel workbook, and by the end of the course have a fully functioning financial model.

Students are encouraged to take the course twice. The first time, just follow along, understand not only the formulas, but also the "why" of what we are doing. See the financial model grow and become "alive" as we work through the various tabs. The second time, follow along and work on your own personal financial model.

The time of the course in video content is 5.5 hours, although expect to spend 10 - 20 hours taking this course. In that time we will build a basic financial model which is fully functioning. The additional time is so you can work on your own financial model in between the lectures.

The course is structured in a very step by step methodology. As we work through each section, we'll progress towards the final financial model.

I encourage all entrepreneurs and financially minded people alike to take the course.

Why listen to Chris Benjamin, Rogue CFO?

I've worked with startup ventures exclusively for over 6 years now. In that time, I've built close to 100 different financial models for companies from early stage startups to several publicly traded ventures. I've also presented to angel investors and venture capitalists many times, and know what they are looking for when considering investing in your company. Learn from someone who not only can teach you how to build a model in excel, but also knows what to include and tips and tricks of building a usable, attractive financial model.

"Financial modeling made simple

Being a CFO I've built my fair share of financials models as well, but I can say I never quite felt comfortable with them. They seemed too big, too cumbersome, and it just seemed like there should be a better way. Chris definitely knows what he is doing and couldn't be a better instructor. Finally I feel empowered to build a solid financial model, in less time, and with much better quality.

Robert Matthews, CFO at (company name omitted for privacy)"

What are the requirements?

  • Have a copy of Microsoft Excel
  • Basic understanding of Excel - basic formulas
  • Basic understanding of Accounting principals and financial statements

What am I going to get from this course?

  • You will learn how to create a full financial model/budget from A-Z
  • Learn how to frame a financial model, what formulas are needed, and what investors are looking for

What is the target audience?

  • Entrepreneurs
  • Startup Companies
  • Financial Modelers

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
04:48

An introduction to Financial Modeling in Excel for Startups. Covers the goals of the course, the prerequisites, and contact information for the instructor, Chris Benjamin.

04:51

Chris Benjamin expands on the introduction to the course, talking more about the specific process used in the course and the content which will be created.

02:26

An introduction and overview of the financial model process we will be going through in the course.

Section 2: Terminology & Excel Functions
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

02:18

Chris Benjamin gives an overview of Excel basic functions and formulas needed to be successful in the course.

13:42

An overview of all Excel functions and formatting tools, as well as navigation within Excel, that is commonly used in financial modeling.

Section 3: Assumptions
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

02:36

Chris Benjamin talks about the importance of Assumptions, the general process for determining your assumptions and how they then factor into subsequent financial statements.

07:42

The beginning of creating our Assumptions tab. We start with modeling the Revenue assumptions. Cover revenue drivers, revenue per item, and the process used to create the assumptions and properly lay them out in Excel.

06:14

A continuation of the revenue driver assumptions, the proper lay out in Excel, and a discussion of how this will feed into the financial statements.

04:48

Continuing with the assumptions, we now work on the cost of good solids assumptions. The various methods which can be used are discussed.

14:18

Salaries typically are the largest expense for a new startup company. This video covers how to set up salary assumptions, the various alternatives you have, and creates a set of assumptions to be used in the model.

05:54

General and Administrative costs typically found in a company are modeled in this video.

06:49

Sales and marketing expenses are broken out into their own category and modeled in this video. Various alternatives for how to create expense drivers are discussed as well.

09:25

Assumptions related to the balance sheet are included in this video. Later on fixed asset assumptions are additionally added to this section.

Section 4: Profit & Loss Statement
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

01:28

Chris Benjamin discusses the profit and loss statement and the approach to now beginning building the financial statements using the assumptions created previously.

11:48

The profit and loss statement is created with headers, row titles and general formatting.

06:39

Expanding on the formatting, in this video formulas are put in place for all totals both vertical and horizontal.

10:04

The revenue section of the Profit and Loss statement is modeled by linking to the assumptions created earlier.

10:10

The cost of goods sold section of the Profit and Loss statement is modeled here using the linking technique back to the assumptions tab.

Section 5: Balance Sheet
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

00:49

Chris Benjamin discusses the Balance Sheet and how it is tied to other financials.

11:03

The Balance Sheet is established, with headers and row titles, along with overall formatting.

13:48

Formulas are put in place to start to establish the balance sheet.

21:32

The Balance Sheet formula creation is continued, linking the assumptions and other inputs to line by line.

02:52

The Balance Sheet originally did not include an inventory line item. This video shows how to go about adding a new line item.

Section 6: Statement of Cash Flow
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

00:46

An introduction to the statement of cash flows and its place within the financial model.

09:10

The Cash Flow financial statement is started. This video focuses on the set up of the titles, columns and formatting.

07:12

Formulas for totals both horizontal and vertical are put into the Cash Flow statement.

07:12

The beginning of placing in formulas to link the Cash Flow statement to the assumptions and other financial statements is started.

12:51

Continuation of the populating of the Cash Flow statement with formulas in order to bring the data needed into the financial statement.

03:38

Finalization of the formulas needed in the Cash Flow statement.

Section 7: Inventory
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

01:08

Chris Benjamin discusses the importance of an inventory planning worksheet. This section applies only to businesses who sell goods.

15:30

Building the Inventory worksheet and start of some formuas

09:40

Now that the Inventory sheet is established, this video begins the process of writing formulas to link the Assumptions to the Inventory tab so we can establish a plan for inventory purchases.

08:07

In this video we continue adding formulas to finish the Inventory worksheet. As well a discussion of inventory planning and how to approach minimum inventory amounts.

Section 8: Financial Tie Out
2 pages

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

01:33

Chris Benjamin discusses the process of now tying out the model, making sure everything is in balance and linked correctly. As well how to look at the model from a feasibility of the business standpoint is discussed.

11:20

In this video, now that the financial model is essentially done, we check for errors by starting with the balance sheet. A discussion of methods used to identify errors is included.

15:20

Now that the model has been error checked and in balance, before proceeding we take a step back and review the results to see if it makes sense from a 10,000 foot level. Assumptions are adjusted and a discussion of profitability and business feasibility are provided.

Section 9: Variance Analysis
1 page

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

01:02

Chris Benjamin discusses the purpose of having a best case/worst case (aka Variance Analysis) worksheet.

10:31

The Variance Analysis tab is created and general formatting done as with prior tabs added.

10:11

The Variance Analysis tab is now populated with formulas, linking the Assumptions about the variances along with the Profit and Loss results. The purpose and best business practices of the Variance Analysis are discussed.

Section 10: Financial Summary
2 pages

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

01:04

Chris Benjamin discusses the final worksheet created in the financial model, a summary which brings in the highlights of each of the financial statements.

05:22

The final tab, Financial Summary, is established and formatting done to prepare the tab.

13:38

The formulas are inserted to create the financial summary. A discussion of the overall purpose and uses for the financial summary are also included.

Section 11: Course Summary
2 pages

Summary worksheet to use with this section, includes terminology, sections for questions and notes of the student, and 3 questions related to the section.

04:31

In the course conclusion, we review the goals originally set in the course preview to make sure we accomplished them. As well I discuss the additional courses I have available, provide a coupon/promo code for you to use for a discount on any course of mine, and lastly provide my contact information.

1 page

In the attached PDF file is a link to download the completed financial model build in this course. I am unable to host Excel files on Udemy is why there's an external download.

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Instructor Biography

Chris Benjamin, Outsourced CFO for Growth Stage Ventures Going Public

I partner with growth-stage international ventures, bringing C-level management experience to help guide your company. 

I have worked as a Rogue CFO exclusively to growing companies for the last five years, bringing my past corporate experience, my passion for the entrepreneur community, and experience helping over 100+ startups succeed.

How do I help? I encourage you to visit my site to learn all: http://www.roguecfo.com/services

A short list though:
* Quarterly & Annual Audit
* Financial Statement Preparation & Analysis
* SEC Reporting
* Investor Liaison
* Cash Flow Maximization Strategies
* Revenue Growth & Expense Reduction
* Financial modeling
* Investor Package creation
* IPO, Reverse Merger & PIPE investment expert
* Exit Strategies (M&A, IPO, LBO, MBO)

As well, I serve on the Board of Directors for growth companies to help direct them towards future growth and profitability.

Specialties: MBA, Startup & growth-stage experience, raising capital, financial forecasts, business plans, virtual CFO, cash management, growth strategy, policy & procedure implementation.

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