如何学习建模
I did not get staffed on any deals that got past a first round bid and I came fromMBBbeforePEand only did strategy cases (no financial statements). I don't know how to model. I can do P/L revenue build stuff but nothing else because I work at a firm that uses templates forCIMmodels. I want to come back as a VP at another firm after myMBAbut recruiting will be bad if I don't know how to model. I only had to do apaperLBO得到这份工作我真的很糟糕。It is a point of serious embarrassment so please refrain from the "how have you not built a model from scratch yet" type posts - I know. Thanks in advance.
Comments (15）
这很明显，但只是开始对自己进行建模。
Get a reference model if you can and just apply what was done there to the model you're building. What I did was intentionally use formulas and make it as complex as I could. Trust me, getting the balance sheet to balance is a bitch.
You can do a modelling exercise in the beginning for a company you're looking at even if the deal gets killed just for yourself and learn from there.
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Pm me
不要在出售的建模指南上睡觉WSOor peak frameworks etc. I was in a cap marketsIB小组试图切换到并购并找到WSO3statementandLBOguides to be really informative
Either are 100% sufficient to grasp the concepts ofLBOmodelling. You don't know what eachPE公司将要测试，但是如果是周期的，那将很容易，因为您在面试之前的经验大约为零。话虽这么说，除非您与一群人合并您的$$$，否则我个人不会浪费您的钱...有很多免费资源（Macabacus），而第二年通常有很多准备bob电子竞技大赛如果他们已经要购买一边，他们将很乐意分享。
我敢肯定，您可以尝试重建公司的公司大量参考模型。正确的选择很重要 - 20+选项卡20MB“高度详细”的狗屎对学习无济于事（这也不对其他任何东西有所帮助，但我离题了）。
Not sure now your firm evolves your models, but would find an earlier archived version just after first round. Final deal models more likely to resemble the above, and earlier ones are more focused on actual drivers that matter before they get frankensteined into oblivion.
focus explicitly on each section: revenue builds, then COGS, then SGA, etc. it's really easy to get lost between different sections being co-dependent, etc, but you have to look at them discretely or you won't ever fully understand. Re-building them forces you to put yourself in the perspective of whoever was building it too, so it's helpful. Assuming you know how to do theLBO部分是因为它基本上是一个模板。
This is good advice, thank you. Yes, I do know how to do theLBOpart, that's pretty easy. I'm talking about, as you picked up on, things like revenue builds, cost builds, and then how to make a balance sheet balance and what cash flow is all about especially vis-a-vis Working Capital negotiations. Appreciate your comment.
是的，有意义，很多人都穿着这些鞋子，在某种程度上，收入/成本组件的核心概念易于理解（例如，产品公司的P X Q，收入预订和用于重复服务的收入等）和这只是将其付诸实践的问题，只是需要代表并盯着其他模型。
唯一要添加的东西是，驾驶员的“方向”确实取决于投资的种类。以增长为导向的交易可能会根据捕获市场增长（例如，您需要维持或发展市场份额等每月预订，等等）的收入来缩小收入。确定收入机会之后，您然后尝试适当地负担成本以支持增长（例如，假设他们预订$ y/月，我需要更多的销售代表）。另一种更“传统的”方式是根据当前的成本结构来缩小收入 - 如果您试图降低成本而不是疯狂招聘，那么您每年可以出售的合理预订或＃产品（更多是GDP+类型）成熟公司与高增长的框架）。也许您已经知道了，但是当我开始时我当然没有PE, so wanted to throw that out there.
Personally, I don't have a ton of experience going super crazy on random balance sheet items or W/C for cashflow, but taking the simplisticarDays, Inventory turnover, etc, should be more than sufficient to get you through until it starts to really matter, since the actually difficult nuances really vary based on industry.
Just build one from scratch yourself? There are like 100+ guides you can buy and video tutorials.
Have you already left?
If you're hoping to come in at the VP level, to be honest, modeling should be the least of your worries. You need deal experience. It's a lot easier to learn modeling vs. negotiations, what content to include in IC memos, funding, deal process, etc.,
Hearing that you've never made it past first round bid on any of your projects might be an instant dealbreaker in interviews unless you're a diversity hire. To be honest, I'd focus on getting transaction experience vs. worrying about how to build an operating model.
Sam @ WS Masterminds was used by my friend who had success
Echo the above but make sure you focus on how the model linkage works. Understanding what drives the model and how the key drivers of the model effect what you're looking to get from your analysis is going to behoove you a lot. I just say this especially from the perspective that many of the models you'll work on will be previous pieces of work or templates so even if you're modifying those to your current work, it's super important to know what inputs are causing what changes within anLBO/3-statement operating model etc.
I've got a few modeling case studies. Pm me
I would also say you're probably not as far behind as you think you are. I've worked at aBBIB，嗯PEandMFPE, and literally no one builds models from scratch. They have a template they adjust or they start fresh, but reference an older model from another deal. The model obviously gets more complicated as you add operating cases, financing cases,sensitivities, etc., but I think the value of being able to build a model from scratch with no resources is a little overdone on this website. I frankly thought the case study model exams were harder than what I do on a daily basis because you aren't able to reference anything.
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