Joe Kennedy of QB-LA.com (aka www.LosAngelesQuickbooksHelp.com) recently completed his presentation “Financial Modeling for Startups” for the CoFoundersLab Learning Center. The 3 session (total 4.5 hours) were webcast to over 100 registrants in the U.S., Europe and Asia in November 2016. More are sure to be scheduled, and registrants can review webinar recordings.  Besides the live webinars and slides, participants were given an advanced MS Excel financial model template, which may be customized to any business.

The CoFoundersLab course description offered that participants may “Be a well rounded entrepreneur, master the financial aspects of your business and forecast future business results. Building a company requires many skill sets, and understanding the financial ins and outs of your business as expressed in a financial model is among the most important. Too many entrepreneurs allow themselves to hire others to look over their financials or build their model, which often leads the company into financial trouble. (In the certification course, we will show you clear examples of this) Building a financial model isn’t just about putting projections together. Quite the opposite. The exercise itself forces you to think through the core assumptions that will drive your business, which is important. If done well, the model itself can serve as a roadmap to execution and helps to get grounded on how your assumptions are panning out over time. Not to mention, a comprehensive financial model is critical to have when speaking with investors and not only that, be knowledgeable about how it all works. In this certification course, you will learn how to do that.”

 

Certificate in “Financial Modeling for Startups”

The description further answered for entrepreneurs “Why you need this certificate:”

  • Building a financial model forces you to think through every aspect of your business – Does this startup have the potential to make real money? When and how much?
  • It serves as a roadmap to execution (an operating plan).
  • It helps to lay out the logic and assumptions underlying the growth of your startup.
  • How to determine cash and equity requirements, forcast ROI, and present to potential investors.
  • Investors expect entrepreneurs to have a solid Excel-based financial model, present how it works (including the 3 basic financial statements) and major bonus if you can help them calculate potential ROI.
  • Relying on others to explain your financials can lead to trouble”

 

The Syllabus for “Financial Modeling for Startups” was

Session 1: Foundations of a financial model

  • What is a financial model, and benefits
  • Inputs, Assumptions and Outputs
  • The 3 Basic Financial Statements: P&L, Balance Sheet, Statement of Cash Flows
  • How investors critique your reports and statements
  • Sensitivity Analysis
  • Importance of GAAP (Generally Accepted Accounting Principals)
  • Real world example and implications of bad financial modeling
  • Begin financial model setup in Excel

 

Session 2: Building the statements and model

  • Continue developing the Excel model
  • How to forecast and input revenues
  • How to forecast and input COGS and expenses
  • Balance sheet •How to read and what to enter
  • Cash Flow Statement – How to read and what to enter
  • Assign homework in Excel model

Session 3: Complete model build out and ROI

  • Methods to calculate returns (ROI)
  • First run of the entire financial model
  • Graphing results
  • Tweaking the model
  • Graduation! You are officially a graduate.”

“After taking this 3 week comprehensive course, you now have the tools to build a killer financial
model and adjust it as your business grows. Make us proud!”

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Since inception in 2011, CoFoundersLab (https://cofounderslab.com/) has been committed to helping entrepreneurial-minded people access the resources they need to thrive. Creating a successful business is not easy, and it all starts with a strong team.

Our global community has grown to over 80,000 entrepreneurs in more than 140 countries who are looking to either build their own business or help grow one. Our speciality lies in facilitating creative entrepreneurial partnerships and the platform is designed to allow members to connect with others who are up to similar things. We firmly believe that entrepreneurs are the driving force behind global innovation and progress, which is why we live and breathe to support this community.

The Onevest ecosystem supports founders and investors in building successful ventures. Onevest provides technology products to connect founders, investors, advisors and influencers in the entrepreneurship community seamlessly and easily. By joining CoFoundersLab, you become part of a larger ecosystem where you get access to a greater network of resources: education, financing, mentorship and partnerships.