In June, Tom Morisse, our Research Manager, animated a FABERNOVEL SCHOOL: the Summer Business School. With Jean-Christophe Liaubet (CEO of FABERNOVEL ALPHA), Antoine Descamps and Julien Fontaine (both FABERNOVEL Accountants), he trained us about financial records, startup investment, valuation, and more!
FABERNOVEL: What was the purpose of this school, andwhy?
Tom Morisse: As children, we all learnt to read and count. Today we hear everybody should know how to code. For me, reading financial records is as important as reading, counting, coding. It is a different language we should know even though we are not all Finance Managers or Accountants.
Figures are everywhere, for our company but also for our clients. Sales, margins... we should understand them, to better grasp the impact we can have on them.
F:Who attended this school, what were their expectations?
T:The attendees came from very different backgrounds: developers, designers, analysts, business developers. They expected to better understand the startup ecosystem, its funding mechanisms, how companies are valued on public markets...
Most of them were what I call “fake beginners”. They all had some memories from school, they all read articles that mention those concepts. But they wanted to understand them better, for instance: “What does it mean when you hear that Tesla is worth more than General Motors?”
F: What are the 3 main points we have to keep in mind?
T: 1- In terms of valuation, nothing is more important than the effective price someone agree to pay.
2- When building a business model, don’t think in €€€, but in client value.
3- To understand investment in startups, we shouldn't focus too much on VC funds but more on the expectations of the institutional investors that fund them.
F: What’s next?
T: To go further, we could imagine roleplays (i.e. 3 startups’ pitches, decide in which one you would invest).
I think we could also have a focus on personal finance: how to save money, how to invest it.
Interested in the subject? Stay tuned!
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