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Build a Budget for an Early-Stage Startup
Fernando Lemus
Fernando Lemus
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Build a Budget for an Early-Stage Startup

Learn how to build in Excel an operational and capital expenditure budget for a tech startup.

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Apply now
Wednesdays
 at
8:00
P.M.
 ET /
5:00
P.M.
PT
8 weeks, 2-3 hours per week
Intermediate
No experience required
No experience required
Some experience required
Degree and experience required

Description

Wise financial planning is crucial for the success of any business; it becomes especially important for startups that have ambitious growth goals and limited resources. In this Build Project, you'll wear the hat of a Financial Analyst and build a full-year budget that allows a fictional startup to understand its expenses and how much capital is needed to cover all business costs. You will create in Microsoft Excel a budget for employees’ salaries & benefits using dynamic formulas. Also, you’ll create a budget for professional service fees. Under the supervision of an experienced Build Fellow, you'll learn best practices in Financial Planning, specifics of operational and capital expenditure budgeting, and how to use Excel to create solid forecasting schedules. All this will happen in an environment that simulates the operations of a real Financial Planning & Analysis team.

Session timeline

  • Applications open
    September 5, 2024
  • Application deadline
    September 19, 2024
  • Project start date
    Week of July 8, 2024
    Week of
    October 7, 2024
  • Project end date
    Week of

What you will learn

  • Design a Budget schedule for Overhead, Travel & Entertainment in Excel.
  • Develop a CapEx & Depreciation Budget in Excel.
  • Build a Venture debt amortization schedule in Excel.
  • Consolidate all your budgets into one monthly trend view in Excel.
  • Summarize your budget assumptions and conclusion in a power point deck format.

Project workshops

1
Introductions
2
Budget and file Organization in MS Excel
3
Salaries & Benefits budget in MS Excel
4
Professional Service Fees budget in MS Excel
5
Overhead, Venture debt and other budgets in MS Excel
6
CapEx & Depreciation budget in MS Excel
7
Budget Consolidation in MS Excel
8
Presentations

Prerequisites

  • Knowledge of generally accepted accounting principles and familiarity with corporate finance concepts: financial statement analysis, revenue recognition, accruals, working capital accounts, fixed asset depreciation and amortization methods, OpEx and CaPeX classification. Usually, these topics are covered in basic finance accounting and corporate finance courses.  
  • Basic Excel skills: you should know how to format and sort data, use formulas, and create charts.
  • Other prerequisites: before the project starts, you'll need to have Microsoft Excel and Microsoft PowerPoint installed on your computer.

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About the expert

Fernando Lemus is a Finance Build Fellow at Open Avenues, where he works with students leading projects in Finance.

Fernando Lemus is a Finance Manager at Insight M Inc. where he works directing and implementing financial planning & analysis process, improving internal controls and accounting processes, managing the company's equity platform and leading the yearly external audit accounting process.

Fernando has over 9 years of experience in finance related positions: 6 years in investment banking and 3 years in corporate financial planning & analysis roles.

He holds a degree in Business Administration with a Major in Finance from the University of Texas at Austin.

A fun fact about Fernando: he is currently training for his second Marathon.

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Fernando
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