Entrepreneurship – from ideas to reality (Open University) Course Notes

https://www.open.edu/openlearn/money-business/entrepreneurship-ideas-reality/content-section-overview Ideas spotting an opportunity (e.g. a gap in the market) experiencing a problem and looking for a solution for it (e.g. an invention) being able to do something that others can’t (e.g. using a talent) being prepared to do something others don’t want to or can’t do (e.g. cleaning) having something that others might need or want (e.g. investing in plant or machinery for hire). Sources of innovation Internal An unexpected happening A need for improvement in a proces An incongruous happening Changes in the indsutry, its structure of the market External Changes in population demographics Changes in society, in perception, mood, or meaning New types of knowledge The bright idea past and present work and experience hobbies and leisure interests qualifications and studies new markets/uses for existing products solving a persistent problem research and development (R&D) patents, licences and research institutes invention opportunities from new technologies opportunities from economic/market changes changes in consumer behaviour complaints and irritations expressed by potential customers changes in rules and regulations imitating an idea from a different locality imitating an idea from a different industry improving an existing product films, TV and radio books, magazines and the press trade shows, exhibitions and conferences business and social networks family and friends.

Business Model Innovation (HEC Paris) Course Notes

https://www.coursera.org/learn/business-model General notes Business vs strategyBusiness model: a description of how a company generates profit Versus strategy: a business model can be used for competitive analysis, portfolio analysis (corporate strategy), business analysis Business modelsOdyssey 3.14’s business model components value proposition (what, for who, price) value architecture (how - value chain, resources, competencies) profit equation (revenues, costs) Business model canvas overlap customer segments, customer relationships, value proposition = value proposition key partners, key activities, key resources, channels = value architecture revenue stream, cost structure = profit equation InnovationWhat: Product, process, managerial, business model

Reading Financial Statements (CFI) Course Notes

https://corporatefinanceinstitute.com/course/learn-to-read-financial-statements-free-course/ https://www.credential.net/6ea89591-f3eb-477b-b5c4-fc5c9f2a806e Balance Sheetaka Statement of Financial Position Current = <1 year Assets and liabilities Deferred taxes: timing difference between accounting income and taxable income → can be asset and/or liability Goodwill: e.g. brand, customers, premium paid on acquisition Intangible: e.g. trademark, patent, copyright Contingencies: e.g. lawsuit with expected future payout e.g. 12 month subscription for £100 → both cash and unearned revenue +£100, each month unearned -£10, revenue +£10

Introduction to Business Valuation (CFI) Course Notes

https://corporatefinanceinstitute.com/course/intro-business-valuation/ https://www.credential.net/6424b711-a689-4088-b6f7-4e389cedff20 The examples and spreadsheets included in the course are super useful! All also available here: https://learn.corporatefinanceinstitute.com/resources/templates/ General Corporate FinanceAsset valuation technique (based on replacement cost, liquidation value) isn’t used much so not in this course Enterprise value (assets) = equity value (market cap = shares * price) + net debt (debt - cash) Capital structure = debt to equity ratio Payment order: vendors/employees (COGS) → debt holders (interest) → government (tax) → shareholders (net earnings)

Consumption Week 32

A CO2-eating car, mineral and water scarcity, and life’s dark truths

Corporate Finance Fundamentals (CFI) Course Notes

https://corporatefinanceinstitute.com/course/corporate-finance-fundamentals/ https://www.credential.net/78615569 IntroductionPrimary market Buy side: institutions/investments Sell side: investment banks Corporations: exchange bonds/shares for capital Secondary market Fund managers buy/sell at stock exchange through investment banks Capital InvestmentCreates economic benefit greater than one year Increase assets CalculationsNPV = FV/(1+r)^n Note: Excel =NPV is different from manual calculation → “Excel NPV formula assumes that the first time period is 1 and not 0. So, if your first cash flow occurs at the beginning of the first period (i.

Consumption Week 31

UK risk register, top performing sectors, greenhushing, and relationship success.

What were you “born into”?

One of my acquaintances has a private jet and generously offers “a lift” to those in need. He provided lifts to a family whose young son needed specialist medical attention in the US on several occasions. This boy had never travelled by plane before. In a way, he was “born into” an elite worldview of transport. Thankfully, months later, he recovered, but an amusing phenomenon unravelled. When he embarked on his first-ever family holiday abroad, he went to the airport as before, but to a different departure gate.

Consumption Week 30

Psychological traps, the pathologisation pandemic, and South Korean POWs.

Financial Modeling Foundations (LinkedIn Learning) Course Notes

https://www.linkedin.com/learning/financial-modeling-foundations https://www.linkedin.com/learning/certificates/61b4251cb70b473f8b1820d156848110144fdf6450252fca362d9706a6d36749 Financial models should: Be simple Focus on key cash flow drivers Convey assumptions and conclusions Help evaluate risks through: Sensitivity analysis Break-even analysis Scenario analysis Types of models ComparisonDeterministic (known inputs, precise outputs) vs stochastic (probability-based, Monte Carlo simulations; more complex) Three Statement Model DCF Model Buyout Model Valuation from model Present value of discounted free cash flow or multiples lnvestment decision and implied value depends on equity IRR versus market hurdle rate Entry multiple and acquisition premium depends on equity IRR and hurdle rate Base case risk measurement Weighted average cost of capital, multiples, terminal growth Debt capacity, debt terms Senior and subordinated debt financing and exit multiple Traditional risk assessment from equity perspective Sensitivity analysis and scenario analysis of DCF and multiple value Sensitivity analysis and scenario analysis of equity IRR Sensitivity analysis and scenario analysis of equity IRR Tradition risk assessment from debt perspective Break-even analysis to determine ability to refinance and maintain credit rating Break-even analysis to determine at what point cash flow can’t service debt Break-even analysis to determine IRR on senior and subordinated debt Monte Carlo analysis with model Probability distribution of EPS and DCF valuation Probability distribution of equity IRR and probability of DSCR below 1.

Introduction to Corporate Finance (Columbia Business School) Course Notes

Introduction to Corporate Financehttps://learning.edx.org/course/course-v1:ColumbiaX+CORPFIN1x+1T2023/home Basic Finance Concepts Rate of Return\[Rate,of,return_{annual}=\frac{Return - initial,investment}{Initial,investment}=\frac{Gain}{Initial,investment}\] Ex: Invest £100k, return £50k \[Rate,of,return_{annual}=\frac{50-100}{100}=-50%\] Future Value\[Future,value=Present,value\times(1+rate,of,return)\] Compounding Future Value\[FV_{t,years}=PV\times(1+r)^t\] Ex: Invest £100k, RoR = 10% \[FV_2=£100k\times(1+0.10)^2=£121k\] Present Value\[PV=\frac{FV}{(1+r)^t}\] Ex: £150k return in 2 years at 10% RoR \[PV=\frac{£150k}{(1+0.10)^2}=£124k\] Opportunity cost of capital = alternative investment RoR \[PV=\frac{C_1}{(1+r)^1}+\frac{C_2}{(1+r)^2}+\frac{C_3}{(1+r)^3}+…\] Ex: Return of £110 in 1 year, £121 in 2 years, cost of capital = 10% \[PV=\frac{£110k}{(1+0.1)^1}+\frac{£121k}{(1+0.1)^2}=£200k\] Ex: Returns=£0.

Consumption Week 28

Millionaire personalities, top returns since 1980, and HUD motorbike glasses.

Business Strategy from Wharton: Competitive Advantage Course Notes

https://learning.edx.org/course/course-v1:Wharton+StrategyX+1T2023/home Strategy Definition a distinctive … different from competitors …array of… more than one …interdependent choices that… complementary …address certain questions objective where to compete (product, customers, geography) value proposition source of competitive advantage (price, costs; activites, resources, capabilities) Evaluation Internal Fit Strategy, CA and OE vs SPCompetitive advantage Fundamentally higher prices and/or lower costs Operational effectiveness (OE) Best practice → absolute but not relative improvement (often through copying) Necessary but not sufficient, as often leads to strategic convergence, meaning the value proposition too similar for consumers (low differentiation) Strategic positioning (SP)

Consumption Week 27

Steam-powered motorbikes, amazing tools to find new music, and lots of corporate greed.

Edible Insects (National Taiwan University) Course Notes

https://www.coursera.org/learn/edible-insects Why Why not: Cultural differences between which animals (and parts of animals) are and aren’t food → Too cute? Too scary? Disgust? Safety? Endangered? More useful alive? Bad taste? Racism? Lower inputs (space, feed, water), lower emissions, higher nutrition density (low carb, medium protein, high protein, high fibre, high nutrients/minerals) Insects react to external (but not internal) physical pain but don’t seem to care - they don’t suffer (mental), they’re likely not conscious Veganism kills more than entoveganism: 1 acre of crops kills 800,000 insects Can be prepared in a huge variety of ways, from flour/minced to whole as nuts/land-prawns substitutes, and have a range of innate flavours Circular agriculture: flies eat chicken waste, chickens eat fly larvae Utilise food waste (avoid landfill) Space food!