1- Hello Cyrill, can you please tell us a bit about you?
Sure. I am the founder of the eFinancialModels, a website which makes it easy to find industry specific financial model templates.
I have been working as a Financial Advisor for more than 13 years, assisting corporate customers and entrepreneurs to analyze and execute Mergers & Acquisitions as well as raising financing. During that time, I have built up extensive knowledge in financial modeling. I love number crunching, therefore I am a big fan of highly dynamic financial spreadsheets which are used to explain from where the value of a company origins.
2- Can you tell us more about eFinancialModels?
eFinancialModels is an online marketplace which makes it easy to find good quality financial model templates in Excel uploaded from us but also from other third-party skilled financial modelers. The financial models can be sorted by industry and use case which makes them very useful for entrepreneurs than when using a generic model only.
Financial models are needed to support financial decisions and run simulate different business scenarios. Financial models can be used for the analysis of investment decisions, fund-raising, business plans, company valuations and many more applications. Especially entrepreneurs will need to use such models for fund raising exercises in order to convince investors.
During my professional career, I realized that is very hard for inexperienced business owners and entrepreneurs to create such financial models as I came across too many ill-designed models which did not explain at all how a business works. In my view, a financial model is a pre-requisite to correctly understand the value of its own business.
eFinancialModels, therefore, provides the required resources so that also entrepreneurs and small business owners can create and more solid financial plans. As the financial model templates are industry specific, they also contain the relevant key financial ratios in that industry. This helps entrepreneurs to enhance the quality of their financial plans.
Therefore, if you look to calculate the Internal Rate of Return for a solar park, a Mobile App, or the Discounted Cash Flow Value for a Software as a Service (SaaS) company, eFinancialModels can provide the corresponding Excel model templates. In addition, we also try to assist entrepreneurs with customized financial modeling services which are provided by our freelancing partners.
3- What are your focus areas and why?
In short, our areas of focus are Inventory… Simplicity… Quality
My goal is to build up a large inventory of good quality financial model templates so that eFinancialModels becomes the preferred place to go whenever you are looking for assistance in financial modeling. We also partner with skilled freelancer and advisors who provide their own Excel model templates via our platform.
Entrepreneurs do not want to waste time. They need good solutions quickly. Therefore, many models are structured in a way that makes it easy to focus on the relevant key assumptions and immediately see the impact on key financial ratios.
We look to partner with skilled financial modelers who are eager to contribute their knowledge and upload their own proven financial model templates on our site.
4- How do you deal with negative feedback?
Clearly, customer feedback is the main influence of our work. Positive feedback creates new motivation to continue to build the platform further. Negative feedback is also highly appreciated as it helps us to think about new solutions – or new models to be built – to address those problems. This way eFinancialModels platform step by step can offer better solutions. We love feedback and welcome it.
5- Where do you think you are making an impact?
eFinancialModels provides an easy to use solution to enhance the quality of financial plans on an affordable budget. Our service is very well appreciated by entrepreneurs, small business owners but also consultants from big four accounting firms who look for shortcuts when building financial models.
6- Where do you see eFinancialModels in the next 5 years?
eFinancialModels will become a key website to visit whenever you deal with financial modeling.
7- What can you tell young people who wish to pursue their entrepreneurial dreams?
START: The first advice is to simply start with something and seek to connect with like-minded people. The entrepreneurial process takes a lot of time, has its setbacks but overall offers a great learning experience.
TRIAL AND ERROR: At the beginning, in most cases, one simply does not know if a venture will work out or not. So the best thing one can do is to test, test and test. After each trial, there is a circle of iteration needed to fine tune the concept and try alternatives to figure out the best possible solution.
PERSEVERANCE: Success does not come overnight and it takes a lot of patience and hard work. The only way to get through that is to persevere, always insisting on getting your questions answered and patiently continue to work through it.
8- What are you most excited about at the moment?
That we have helped more than thousand of entrepreneurs and executives enhancing their financial plans by using our resources.
9- The last word or final thoughts?
Thank you for your interest and great questions. Please join us on our journey to make life easier for entrepreneurs and executives and see how we are going to do. Feel free to connect on social media or visit our website.