Completing our Flagship 5-Course Series "How to build proforma financial statements, model, value, and finance early-stage product startups," enables you to:
- Formulate credible assumptions for your business model,
- Build proforma financial projections for your business,
- Value your startup,
- Select your financing vehicle and negotiate your term sheet, and
- Understand the basics of financial accounting and analysis.
NO PRIOR FINANCE EXPERIENCE IS REQUIRED.
This series consists of five courses:
- Course 1: Financial Accounting and Analysis;
- Course 2: Financial Modeling of Product Startups: 8 Distribution Channels;
- Course 3: Valuation Concepts and Valuation Models;
- Course 4: A Case Study: Modeling and Valuing an Early-Stage Product Startup; and
- Course 5: Fundraising Strategy and Financing Vehicles.
If you buy this package, you get $100 off vs. buying each course individually.
This series offers:
- LIFETIME ACCESS to 9+ hours of easy-to-understand MBA-level finance lectures;
- LIFETIME ACCESS to 550+ practice questions;
- AVAILABLE FOR DOWNLOAD IMMEDIATELY: All PowerPoint and Excel materials;
- AVAILABLE FOR DOWNLOAD IMMEDIATELY: A comprehensive, complete, and functional financial model template for a fictional software startup with four distribution channels; and
- THREE-MONTH ACCESS to corresponding live classes.
What if you are confused?
Support: LIFETIME ACCESS to a private Facebook group where you can interact with Victoria Yampolsky and other students.
Finance can be scary, but don’t worry - we are here to help you every step of the way. There are two levels of help we offer:
1. After enrollment, you will have access to a private Facebook group where you can interact with other students and ask questions. Victoria oversees the group and will help you if other students don’t know the answers.
2. If you need support beyond the Facebook group, you can also ask Victoria questions by email.
1. Financial Statements and Analysis For Early-Stage Startups.
- The purpose of a financial model for a startup;
- Overview of four financial statements;
- The structure of an Income Statement: Revenues and Costs - Variable, Fixed, Non-Cash, and Financing;
- Break-even analysis;
- The structure of a Balance Sheet: Assets and Liabilities;
- Properly, Plant & Equipment;
- Working Capital: Accounts Receivable and Accounts Payable;
- The structure of a Cash Flow Statement: Cash Flow from Operations, Cash Flow from Investing, and Cash Flow from Financing; and
- Key performance indicators: margins, return metrics, operating leverage, and cash conversion cycle.
2. Financial Modeling For Early-Stage Product Startups.
- Challenges in modeling early-stage software and service startups and how to overcome them;
- How to model price and quantity;
- The Business Model Analysis Roadmap, a guide for analyzing business models;
- The framework for creating credible financial model assumptions.
- Introduction to eight business models for service and software startups;
- Assumptions and business scenarios for EIGHT DISTRIBUTION CHANNELS with Excel examples:
- Brick & mortar;
- Sales reps;
- Domestic distributors;
- International distributors;
- Big box retailers; and
- Joint ventures.
- Modeling Variable and Fixed Costs:
- Special section on Inventory and LIFO/FIFO Accounting;
- COGS; and
- Warehouse costs and supply chain.
3. Valuation Concepts and Valuation Models For Early-Stage Startups.
- Free Cash Flow;
- Investors’ Return (IRR); and
- Four methods for calculating Terminal Value.
- Two valuation approaches for valuing early-stage ventures;
- Three quantitative valuation models:
- Venture capital method,
- Discounted cash flow, and
- The Chicago method;
- Five qualitative valuation models:
- The Dave Berkus scorecard,
- Bill Payne’s scorecard methodology,
- The Risk Factor Summation Model,
- The Replacement /All-in Method,
- The Rule of Three; and
- How to create and maintain a cap table.
4. A Case Study for An Early-Stage Product Startup "Coolest Product Ever"
- Formulating assumptions for pricing and marketing strategies for each revenue stream;
- Modeling techniques for pricing and marketing strategies for each revenue stream;
- Formulating cost assumptions and assumptions for working capital and fixed assets;
- Constructing proforma financial statements;
- Determining the company's funding needs and valuation; and
- Creating a financial summary and performing a break-even analysis.
The resulting model, available for download, contains the following:
- Monthly revenue projections for each revenue stream:
- "Coolest Product Ever" sells its product via four distribution channels: Online, Events, Sales Reps, and Wholesale.
- There are four marketing strategies for the online distribution channel.
- The wholesale channel uses a salesforce to secure distributors
- Monthly variable and dynamically determined operating costs.
- The company uses a third-party fulfillment system and has limited warehouse operations.
- Yearly salaries and overhead costs.
- Monthly working capital and fixed asset projections.
- Annual income statement, balance sheet, and cash flow statement.
- Valuation and funding needs.
- Break-even analysis and financial summary.
- Customer acquisition costs for each revenue stream.
5. Fundraising Strategy and Financing Vehicles for Early-Stage Startups
- How to look for investors;
- Which legal documents are required for an equity raise;
- How to evaluate accelerators;
- The structure of an Equity investment:
- Anti-dilution clauses,
- Preferred stock,
- Warrants, and
- Other clauses;
- The structure of a SAFE investment:
- How does it work?
- Conversion triggers: acquisition and the next round of financing; and
- Methods to determine an equity stake upon conversion: valuation cap and discount rate.
- The structure of a Convertible Debt investment:
- Similarities to and differences from a SAFE investment;
- Control and information rights; and
- Pros and cons of equity, SAFE and convertible debt.
Victoria Yampolsky, CFA, is President and Founder of The Startup Station, an educational and consulting company specializing in modeling and valuing early-stage ventures. Victoria helps early-stage founders master the necessary finance skills to evaluate the financial feasibility of their business models, translate them into comprehensive and actionable financial plans, and use those plans to gauge the effectiveness of their strategy. Since the launch of The Startup Station's educational program, more than 1,000 founders have completed the curriculum and learned the basics of financial modeling, valuation, and startup financing.
Victoria is an advisor to DreaMe, Opkix, and Stringflix, as well as a founder of several ventures in media and entertainment. Previously, Victoria worked for Deutsche Bank and was a technology consultant with CapGemini's Financial Services Division. Victoria holds a Bachelor's Degree, Cum Laude, in Computer Science, with a minor in Mathematics, from Cornell University and an MBA, with honors, from Columbia Business School. Victoria is also on the Advisory Board of the Computing and Information Science (CIS) Department of Cornell University.