Xavier Corman | Martin van Wunnik 107/02/2012 Xavier Corman | Martin van Wunnik 117/04/2012

MIC boostcamp - Finance workshop

Translating your business model into figures

What are the key parts of your financial plan?

What is the logic behind it?

Azèle Mathieu

Catherine Blondiau

Rodolphe d'Udekem d'Acoz

Martin van Wunnik

12 Sept ’13

Xavier Corman | Martin van Wunnik 207/02/2012

Who are we ?

Martin van Wunnik

Azèle Mathieu

Catherine Blondiau

Rodolphe d'Udekem d'Acoz

12 Sept ’13

Xavier Corman | Martin van Wunnik 307/02/2012

This presentation is available for free:

http://www.slideshare.net/FinanceCoach24

12 Sept ’13

Xavier Corman | Martin van Wunnik 407/02/2012 Xavier Corman | Martin van Wunnik 417/04/2012

Why a Financial Plan ?

If you don't think about the future,

you cannot have one. John Golsworthy

where you want to go

how you are supposed to get there

You need to know

12 Sept ’13

Xavier Corman | Martin van Wunnik 507/02/2012 Xavier Corman | Martin van Wunnik 517/04/201212 Sept ’13

Xavier Corman | Martin van Wunnik 607/02/2012 Xavier Corman | Martin van Wunnik 617/04/2012

Financial Plan

Content

– Assumptions

– Profit & Loss

– Balance Sheet / Investment

– Cash-Flow -> Cash needed

– Valuation of the project

– Profitability / return of the project

12 Sept ’13

Xavier Corman | Martin van Wunnik 707/02/2012 Xavier Corman | Martin van Wunnik 717/04/2012

Fixed costs

1. What is the structure to run the business: SPRL/BVBA or SA/NV?

How many (co)founders and employees (1, 5 or 50)? Employees or outsourced workforce?

2. Back-office services required?

3. Required operational fixed costs?

4. Where: in Brussels, Wallonia, Flanders? Any outsourced activities outside Belgium?

R&D

1. Budget and estimated period? Type of R&D? Recurrent?

2. How many people for R&D?

Investments

1. Planned investments? Computers, software licence, machines, etc…

2. Budget and schedule of the investments

12 Sept ’13

Xavier Corman | Martin van Wunnik 807/02/2012 Xavier Corman | Martin van Wunnik 817/04/2012

Accounting: Profit & Loss (P&L)

Revenues (Sales…)

COGS (Cost of Sales)

General Expenditures

Personnel Costs

Depreciation

Financial cost

Profit

Taxes

EB

IT

12 Sept ’13

Xavier Corman | Martin van Wunnik 907/02/2012 Xavier Corman | Martin van Wunnik 917/04/2012

Accounting: Balance Sheet

Non Current Assets

(Actifs Immobilisés/

Vast Activa)

Equity + Reserves

(Capital/Kapitaal)

LT Debts

ST Debts

Current Assets

(Actifs circulants/

Vlottend Activa)

ACTIVE PASSIVE

12 Sept ’13

Xavier Corman | Martin van Wunnik 1007/02/2012 Xavier Corman | Martin van Wunnik 1017/04/2012

Required Cash-Flow

12 Sept ’13

Xavier Corman | Martin van Wunnik 1107/02/2012 Xavier Corman | Martin van Wunnik 1117/04/2012

Tips for assumptions

• Office: 10-25 m²/person

• EUR 100/m²/year + 15 % for maintenance

[ or COWORKING !]

• Insurances: 1 -3 % of revenues

• Marketing: define a % of revenues + starting

investment

• Don’t forget lawyers, accountant, social

secretary, office supplies…

12 Sept ’13

Xavier Corman | Martin van Wunnik 1207/02/2012 Xavier Corman | Martin van Wunnik 1217/04/2012

• Car leasing : 300 – 800 EUR per month

• Salary : Gross monthly x 19,2 = Yearly cost

• Revenues: worst-case & best-case

– First 3 to 6 months: 0 EUR

– Maximum ‘billable’ hours per day

(one-off events, holidays, prospecting, etc...)

• Own salary : “0 EUR” / Realistic

� different ‘hats’

12 Sept ’13

Xavier Corman | Martin van Wunnik 1307/02/2012 Xavier Corman | Martin van Wunnik 1317/04/2012

How to finance your startup ?

Equity

LT Debts

ST Debts

12 Sept ’13

Xavier Corman | Martin van Wunnik 1407/02/2012 Xavier Corman | Martin van Wunnik 1417/04/2012

Your case

Free download:

http://www.slideshare.net/FinanceCoach24

12 Sept ’13

Xavier Corman | Martin van Wunnik 1507/02/2012 Xavier Corman | Martin van Wunnik 1517/04/201212 Sept ’13