The course aims at providing knowledge and experience to entrepreneurs and would-be entrepreneurs. Entrepreneurs generally start with a mission, a new idea that they want to bring to the world. If the idea is original, it is probably not expected by the market, which has to be educated. This is a very costly experience. Entrepreneurs need to gather capital at the start of the journey. They need to articulate clear plans, define objectives and resources and raise money accordingly. They also need to manage cash for two reasons: i) because the better it is managed, the less you need to raise with outsiders; ii) because generation of cash flow is the pillar of the valuation of the company. And we should add that the practical reason why a company gets bankrupted is because it runs out of cash..
The course is based on this belief. We look at the myth of the balance sheet and explain the dynamics of cash flows and the way they should be managed. We also investigate the basics of venture capital and provide a practical roadmap to entrepreneurs.
Many courses are dedicated to the same topic. Our originality is that we operate in the advisory board of the private equity firm, Xerys and are board members of their venture companies. In addition, Michel was the country head for Merrill Lynch in France while Philippe served in the same function at UBS. The former as head of investment banking, the latter as head of global markets.
Welcome! This first week will help you understanding the different types of financial documents and the information each contains with one goal in mind: make more informed decisions about your venture.
What's included
5 videos5 assignments
Show info about module content
5 videos•Total 22 minutes
Why create a company?•3 minutes
Figuring the balance sheet•10 minutes
Cash conversion cycle•2 minutes
Working capital requirement•5 minutes
Non-current assets•2 minutes
5 assignments•Total 150 minutes
Why create a company?•30 minutes
Figuring the Balance Sheet•30 minutes
Cash Conversion Cycle•30 minutes
Working Capital Requirement•30 minutes
Non-Current Assets•30 minutes
VALUE CREATION AND CASH FLOW
Module 2•4 hours to complete
Module details
In this module you will learn: How does your venture create wealth? What is a business plan? What is wealth? What are the main financial metrics of wealth creation? How does your venture create cash? What is the Burn rate? Why should you finance your venture through equity? And why not debt?
What's included
6 videos7 assignments
Show info about module content
6 videos•Total 34 minutes
How does your venture create wealth?•3 minutes
The main financial metrics of wealth creation•7 minutes
How does your venture create cash?•7 minutes
Burn rate•2 minutes
Why equity?•5 minutes
Why not debt?•10 minutes
7 assignments•Total 210 minutes
What is a business plan?•30 minutes
What is wealth?•30 minutes
The main financial metrics of wealth creation•30 minutes
How does your venture create cash?•30 minutes
Burn rate•30 minutes
Why Equity?•30 minutes
Why not Debt?•30 minutes
GROWTH AND MARKET POWER
Module 3•1 hour to complete
Module details
Understand that growth and size do influence market power and cash flows/profits as a consequence
What's included
1 video1 assignment
Show info about module content
1 video•Total 8 minutes
1.Growth, market power and financing•8 minutes
1 assignment•Total 30 minutes
Quiz Growth, market power and financing•30 minutes
THE ENTREPRENEUR AND THE FINANCIERS
Module 4•1 hour to complete
Module details
Understand the details of the relation between the entrepreneur and the financier, private equity in the first stages, then the public market at the time of the IPO. Understand the expectations, the documentation and the basis of price discovery
What's included
2 videos2 assignments
Show info about module content
2 videos•Total 20 minutes
4.The entrepreneur and the financier: A long term relationship•10 minutes
5.The IPO: The beginning of a new story•10 minutes
2 assignments•Total 60 minutes
Quiz The entrepreneur and the financier•30 minutes
Quiz The IPO•30 minutes
VENTURE CAPITAL FINANCING
Module 5•1 hour to complete
Module details
Understand via real life examples the respective objectives of the entrepreneur and the financiers. Examine the trade off between ownership and growth and get an understanding of the different stages of investment.
What's included
2 videos2 assignments
Show info about module content
2 videos•Total 19 minutes
2.The entrepreneur dilemma: Growth vs Ownership•8 minutes
3.Investment stages•11 minutes
2 assignments•Total 60 minutes
Quiz Growth vs Ownership•30 minutes
Quiz Investment stages•30 minutes
Case Study
Module 6•2 hours to complete
Module details
What's included
1 peer review
Show info about module content
1 peer review•Total 120 minutes
The IPO of Square •120 minutes
Instructors
Instructor ratings
Instructor ratings
We asked all learners to give feedback on our instructors based on the quality of their teaching style.
École polytechnique combines research, teaching and innovation at the highest scientific and technological level worldwide to meet the challenges of the 21st century. At the forefront of French engineering schools for more than 200 years, its education promotes a culture of multidisciplinary scientific excellence, open in a strong humanist tradition.\n
L’École polytechnique associe recherche, enseignement et innovation au meilleur niveau scientifique et technologique mondial pour répondre aux défis du XXIe siècle. En tête des écoles d’ingénieur françaises depuis plus de 200 ans, sa formation promeut une culture d’excellence scientifique pluridisciplinaire, ouverte dans une forte tradition humaniste.
When will I have access to the lectures and assignments?
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I purchase the Certificate?
When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.