Financial forecasts for startups and corporate innovation initiatives are notoriously unreliable. But instead of throwing them away entirely, this course will show you how to create a financial model with high uncertainty. The result should be more accurate predictions and a way of tracking progress.
The course consists of interactive live workshops, self-paced learning supported by videos and all necessary resources, as well as personal coaching. We invite participants to use an early-stage venture of their choice. Applying theory to a real-world example will provide immediate value beyond learning the principles.
Actionable Metrics are the cornerstone of a good model and subsequent lead indicators for success. As a participant, you will discover how to extract the necessary metrics from any business or mission model and avoid vanity metrics. You will learn why and how to express each variable within a confidence interval before enabling a Monte Carlo Simulation. This results in the best possible prediction for your model. Lastly, we will see how the analysis can help with a range of decision making and what to do next.
The approach, different from traditional financial modelling, identifies a venture’s key risks, levers of growth, and potential more objectively.
Innovation Accounting adds to the available toolset. Everything is evolving, as is accounting, and there is a better approach to analyse the real value potential and risk of your venture – whether it’s a startup or corporate innovation project.
We have developed this course unique to the Asia Pacific Region together with our U.S.-based partner Kromatic. It will allow you to embed Innovation Accounting practices and toolsets in your team and organisation.