How do different types of investors think about an investment opportunity? What kind of securities and contracts do they offer? How should a company decide what is a "good deal"? This course is designed to introduce you to the challenges and pitfalls of financing new enterprises. You will learn the basic tools for valuating companies, including using discounted cashflow analysis in Excel and understanding how to apply this model to your entrepreneurial venture. You will then learn how valuation works with different types of securities that investors use to finance startups, from bank loans to venture capital to angel investing.
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教學大綱 - 您將從這門課程中學到什麼
週
1完成時間為 1 小時
The Basics of Valuation
In this module you will learn the general framework for valuing companies: prices as the discounted value of future cash flows. We will focus on how to determine cash flows and how discounting works. At the end of the lectures you will be able to understand the basics of how investors determine the value of a company.
5 個視頻 （總計 47 分鐘）, 1 個測驗
5 個視頻
Determining Cash Flows11分鐘
Time Value of Money10分鐘
Obtaining the Discount Rate13分鐘
Comparables Valuation8分鐘
1 個練習
Introduction and the Basics of Valuation Graded Quiz10分鐘
完成時間為 1 小時
Building your First Excel Valuation Model
In this module we will apply what you learned in the previous module. At the end of the module you will have built your first financial model of a firm, which you can change to apply to valuing a large firm or a small startup.
10 個視頻 （總計 60 分鐘）, 1 個閱讀材料, 1 個測驗
10 個視頻
Income Statement: Revenues6分鐘
Income Statement: Other Items5分鐘
Income Statement: Depreciation9分鐘
Income Statement: Complete the Calcs4分鐘
Income Statement: Working Capital6分鐘
Income Statement: Free Cash Flows7分鐘
Assumption of Future Growth5分鐘
Present Value of Cash Flows5分鐘
Market Value of Assets4分鐘
1 個閱讀材料
Kale and Kombucha10分鐘
1 個練習
Building your First Excel Valuation Model Graded Quiz10分鐘
週
2完成時間為 1 小時
Valuation of High-growth Startups
In this module we will consider how very high failure rates for startups affects what you learned in the previous modules. The short answer is: it doesn’t, as long as we understand what business plans and company forecasts really are.
4 個視頻 （總計 27 分鐘）, 1 個測驗
4 個視頻
Adding Probability of Failure3分鐘
Interpreting Business Plans6分鐘
Adjusting Discount Rates12分鐘
1 個練習
Valuation of High-growth Startups Graded Quiz10分鐘
週
3完成時間為 3 小時
Venture Capital Overview
In this module we will review the main sources of capital that founders of startups turn to when they raise capital to launch their business.
9 個視頻 （總計 67 分鐘）, 10 個測驗
9 個視頻
Understanding Debt7分鐘
Venture Capital9分鐘
What is a VC Investor? VC Funds7分鐘
How VCs Value Businesses7分鐘
The VC Method8分鐘
Term Sheets5分鐘
Option Pool5分鐘
Understanding Anti-Dilution7分鐘
10 個練習
Introduction to Financing Options for Entrepreneurial Ventures4分鐘
Understanding Debt8分鐘
Venture Capital8分鐘
VC Funds6分鐘
How Do VCs Value Businesses8分鐘
The VC Method14分鐘
Term Sheets8分鐘
Option Pool8分鐘
Understanding Anti-Dilution6分鐘
Venture Capital Overview Graded Quiz24分鐘
週
4完成時間為 1 小時
Angel Investor Overview
In this module we will conduct an in-depth analysis of angel investors and the securities they use when they invest in early-stage startups
5 個視頻 （總計 18 分鐘）, 5 個測驗
5 個視頻
Angel Securities3分鐘
Angel Term Sheets5分鐘
Capped Conversion Price5分鐘
Course Conclusion56
5 個練習
Angel Investors4分鐘
Angel Securities4分鐘
Angel Term Sheets4分鐘
Capped Conversion Prices4分鐘
Angel Investor Overview Graded Quiz20分鐘
講師
Manuel Adelino
Associate Professor, FinanceDuke University’s Fuqua School of Business
David Robinson
Professor of Finance and James and Gail Vander Weide ProfessorDuke University's Fuqua School of Business
關於 杜克大学
Duke University has about 13,000 undergraduate and graduate students and a world-class faculty helping to expand the frontiers of knowledge. The university has a strong commitment to applying knowledge in service to society, both near its North Carolina campus and around the world.
關於 Entrepreneurial Finance: Strategy and Innovation 專項課程
From entrepreneurs to executives, this Specialization provides an opportunity for you to learn how to advance business innovation in your company and gain insights from leading faculty in the Fuqua School of Business at Duke University.
In the first course, you will learn how to valuate entrepreneurial ventures—including high-growth startups—using Excel spreadsheet models. You will also learn how to discern between the tradeoffs of different financing strategies: loan investments, venture capital, angel investing, and crowdfunding.
The second course will teach you how to manage a startup’s financing strategy, where you will learn how to build capitalization tables (or “cap tables”) in Excel. Cap tables will help you explore different financing strategies for your startup company and determine which financing decisions are best for your entrepreneurial venture.
The third course transitions to an analysis of blockchain technologies, where you will learn how to identify opportunities to disrupt and innovate business models using blockchain as well as avoid poorly executed applications of blockchain to business.
The fourth course will teach you how to use R programming to calculate the return of a stock portfolio as well as quantify the market risk of that portfolio.
This Specialization is also an excellent opportunity for professionals interested in Fuqua’s master’s programs to get an inside look into Fuqua’s faculty expertise and courses.
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