finished the course

mba-main.org

@@ -67,7 +67,17 @@
 - [[./mba/ch59.org][Chapter 59. Read Financials like a book & find patterns in data]]
 - [[./mba/ch60.org][Chapter 60. How to Value Public Firms the Easy Way]]
 
-** seciton 12 - Initial Public Offering (IPO)
+** section 12 - Initial Public Offering (IPO)
 - [[./mba/ch64.org][Chapter 64. How an IPO works]]
 - [[./mba/ch65.org][Chapter 65. How DCF (Discount Cash Flow) analysis works]]
 - [[./mba/ch66.org][Chapter 66. Valuing a Company vs Competition]]
+
+** section 13 - management analytical frameworks
+- [[./mba/ch70.org][Chapter 70. What is management consulting + frameworks they use]]
+
+** section 14 - alternatives and turnarounds
+- [[./mba/ch75.org][Chapter 75. Financinc Alternatives + Why to avoid Debt]]
+- [[./mba/ch76.org][Chapter 76. Harvesting an Investment, Leveraged Buyouts, Troubled Ventures and Turnarounds]]
+
+** section 15 - leftover content / goal setting workshop
+- [[./mba/ch81.org][Chapter 81. Most important ivestment, Great marketing is crucial]]

mba/ch70.org

@@ -5,5 +5,109 @@
 * Links
 - [[./../mba-main.org][TOC | Business]]
 - [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4317556#overview][S13:L70 course video]]
+- [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4317496#overview][S13:L71 course video]]
 
 * notes
+
+** Management consuluting
+- assume we need help
+
+*** what consultants do
+- analyze problems
+- financial statement preparation
+- enviornmental preparation
+
+*** it consulting
+- merger
+- setting up offshore bank
+- online banking access
+
+*** hr staffing
+- outsource hiring
+
+** pro/con working in consulting
+*** positives
+- money
+- interesting
+- travel
+
+*** negatives
+- brutal hours
+- some clients hate you
+- long path to partner
+
+** resume tips
+- list of html links
+- networking is more important
+
+** analysis frameworks
+*** bcg matrix
+
+#+OPTIONS: toc:nil
+#+PROPERTY: header-args:plantuml :cache yes :results file :exports both :file bcg-matrix.png
+
+**** BCG Matrix Overview
+This chart maps *market share* (horizontal axis) against *market growth* (vertical axis).
+
+- X-axis: Low → High *Market Share*
+- Y-axis: Low → High *Market Growth*
+
+**** Text Diagram (quick view)
+#+BEGIN_EXAMPLE
+                ↑ High Market Growth
+                |
+                |    ┌────────────────────────────┬────────────────────────────┐
+                |    │         Question Marks     │           Stars            │
+                |    │  (Low Share, High Growth)  │  (High Share, High Growth) │
+                |    ├────────────────────────────┼────────────────────────────┤
+                |    │            Dogs            │         Cash Cows          │
+                |    │ (Low Share, Low Growth)    │ (High Share, Low Growth)   │
+                └────┴────────────────────────────┴────────────────────────────┘
+                     Low Market Share                              High →
+#+END_EXAMPLE
+
+
+*** S.W.O.T analysis
+#+BEGIN_EXAMPLE
+
+                ┌─────────────────┬─────────────┐
+                │     strengths   │  weaknesses │
+                ├─────────────────┼─────────────┤
+                │  opportunities  │  threats    │
+                ┴─────────────────┴─────────────┘
+#+END_EXAMPLE
+
+*** product life cycle
+1. y-axis is sales profit
+2. x-axis is time
+
+**** along the x-axis
+1. development
+2. intro
+3. growth
+4. maturity
+5. decline
+
+*** porter 5 forces model
+analyze based on 5 different forces
+
+1. competition
+2. substitutes
+3. new entrants
+4. buyer power
+5. supplier power
+
+*** barriers to entry
+- patents
+- market
+- produce stuff at scale
+
+*** risks
+- look at sec.gov to find
+  - risks
+  - weakneseses
+- also you can call the company's competitor
+
+** quantitative stuff
+- trends in data
+- every chart tells a story

mba/ch75.org

@@ -0,0 +1,95 @@
+#+title: Section 13 | Lesson 75 - financing alternatives
+#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../_share/media/css/org-media-sass/categories/business.css" />
+#+OPTIONS: H:6
+
+* Links
+- [[./../mba-main.org][TOC | Business]]
+- [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4284470#overview][S14:L75 course video]]
+
+* notes
+
+the company is mature
+but it is not growing
+
+** financing alternatives
+- equity investors are better for startups
+- if you are in debt and miss a payment, it is death
+- if you must take debt, do it as an LLC so they can't come after you
+
+*** additional sources
+- raising money is tough
+- do not pay upfront fees to consultants to raise money
+  - they are fraudulant
+- you pay people AFTER THEY EARN THE CASH
+
+** commercial & venture bank lending
+- commerical loans are possible with a few years of operating history
+- they want to see cash flow projections based on a few years of history
+
+*** don't really care about assets
+- unless you are extremely liquid
+
+** VC vs Debt firms
+- VC love risk
+- Debt firms hate risk
+  - interest on debt
+  - warrants on stock options
+
+*** equity
+- primary for venture capital
+- secondary for debt firms
+
+*** timing
+- beginning venture capital
+- ending debt firm
+
+** reasons not to do debt financing
+- minimum 2+ years financials
+- few tangible assets
+- low revenue (tech)
+  - tech firms always have this problem
+- 1-2 employees are too valuable
+
+** credit card debt
+- 50% of startups use this
+- if your CR rating sucks you can't raise debt
+
+** foreign investor funding
+- US gov lets you buy lawful permanent resident status if you invest $1mn in a startup and create or preserve 10+ jobs
+- minimum drops to 500k if in a rural or high unemployment region
+
+** government loans
+- native americans
+- hawaiians
+- women
+- veterans
+
+** vendor financing
+- "2/10 net 30"
+
+*** how it works
+- you buy goods on credit from a vendor
+- if you pay back before 10 days, you get discounted 2%
+- if you pay back between 10-30 days you pay the full amount
+
+- so always pay before the 10 days, because then you avoid an effective compound rate of over 40%
+
+*** example
+- you have a buyer lined up for 1000$ worth of goods, assume he pays you upfront
+- vender hands you goods, you pay vender $980 immediately due to 2% discount under 10 days
+- hand over goods to buyer
+- pocket 20$
+
+** vendor leasing
+- you lease equipment instead of a money loan
+-  part of payment is in warrants
+
+** other financing
+- morgage if company owns the business
+- direct public offerings
+  - you can get a loan of up to $1mn through a syndicate of many investors
+
+** bootstrapping
+- pay for it yourself
+- better to use Other People's Money
+- set up LLC so protect family

mba/ch76.org

@@ -0,0 +1,155 @@
+#+title: Section 13 | Lesson 76 - financing alternatives
+#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../_share/media/css/org-media-sass/categories/business.css" />
+#+OPTIONS: H:6
+
+* Links
+- [[./../mba-main.org][TOC | Business]]
+- [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4301162#overview][S14:L76 course video]]
+
+* notes
+** Harvesting an investment
+- asset can be transferred to investors
+- company can be sold and cash distributed to investors
+- company goes public and shares are distributed 6 months post IPO lockup
+
+** Planning an exit strategy
+- need to explain liquidity targets to investors when you are raising capital
+  - make sure you are both thinking the same way
+  - have a lawyer prepare the documents
+
+** Buyouts
+- "leveraged buyout" LBO
+- financed using debt
+- must have great cash flows to secure loans
+
+*** firms
+- many public companies partner with private equity firms and go private
+- goal is to go public again at some point
+
+**** example firms
+- KKR
+- TPG
+
+*** management buyout (MBO)
+- when management buys the company
+  - loans
+  - investors
+  - their own money
+
+- gains
+  - independence
+  - control
+
+*** Employee Stock Ownership Plan (ESOP)
+- employees buy the company
+- all employees own it not just management
+
+** Initial Public Offering (IPO)
+*** what is an initial public offering
+- private company sells shares to the public through a stock exchange
+- this allows
+  - company to raise capital for growth
+  - early investors and employees to convert their holdings to cash
+
+*** shares
+**** types of shares
+***** primary
+- newly issued shares created by the company for the IPO
+- when sold to outsider investors the money goes to the company's treasury
+- used to fund expansion, pay debt, invest in new projects
+
+***** secondary
+- already existing shares held by people "shareholders"
+  - it's the shareholders that make money when selling their shares
+  - venture capital firms
+  - founders or employees that want to cash out
+
+**** in practice
+- most IPOS are a mix
+  - primary raises growth capital
+  - secondary is the payout for whoever bought in early
+
+**** dilution
+- when primary shares are made and sold, existing shares are worth less
+- company gets money to raise to invest in projects that can increase it's overall value in cluding the diluted shares
+
+*** structure, underwriting and listing requirements
+- underwriting spread is fee the investment bank gets (usually up to 7%)
+
+**** listing requirements for NASDAQ
+- share price >= $4, at least 1M publicly held shares
+- several years of operating history and financials
+- must have a Board of Directors (BOD) with independent members
+  - oversee management
+  - ensure regularatory compliance
+  - protect shareholders
+  - maintain audient, compensation and nominating committees
+
+** Troubled Ventures and Turnarounds
+*** basics
+- turnarounds don't work in tech
+- very rare exceptions
+  - steve jobs at apple
+  - IBM
+- this is due to 'secular decline'
+  - A secular decline is a persistent, structural decrease in growth, productivity, or demand that continues for many years regardless of normal economic ups and downs.
+
+*** corporate raiders
+- dont let sentiment cloud your judgement
+- it's a zombie.  shoot it and move on.
+  - liquidate
+  - sell it
+
+*** ways to die
+- financial distress :: when cash on hand is insufficient to pay for current liabilities
+- load default :: one missed payment and it is over
+- acceleration provision ::  when a firm defaults on just one payment then all future payments are due immediately
+- cross default provision :: one late payment on one loan causes all loans to go into default
+- foreclosure :: the legal process where lenders collect and take stuff from you
+- insolvent :: negative book equity
+
+*** reqlities
+- 25% of companies go belly up within 2 years of being founded
+- more than 50% of companies shut down within 4 years of being founded
+
+*** bankruptcy law
+- a legal code that has many chapters that protect you
+
+**** chapter types
+***** types
+- chapter 7 :: how people / firms liquidate stuff
+- chapter 9 :: how cities deal w/ bankruptcy
+- chapter 11 :: how firms deal w/ bankruptcy
+- chapter 12 :: how farms deal w/ bankruptcy
+
+***** general rules
+- chapters 1, 3, 5 :: general bankruptcy rules
+- chapter 15 :: trustees that help banks
+- chapter 13 :: restructuring personal debt
+
+***** most important
+- chapter 7 - liquidating
+- chapter 11 - restructuring
+
+**** chapter 7 liquidation
+- after a person / company files for bankruptcy then a court supervises the liquidation process
+
+**** capter 11 bankruptcy filing
+- temporarily protects a distressed firm so they can restructure or pay off debt
+***** types of restructuring
+- operations restructuring :: incraese revenue or cut expenses
+- asset restructuring  :: selling assets to improve ratios
+  - day sales outstanding
+  - inventory conversion period
+
+***** this can save a company
+- 65% of companies reorganize
+- 28% liquidate
+- 7% merge with another firm
+
+***** steps
+1. file for chapter 11 with one of 300 bankruptcy courts
+2. a bankruptcy judge accepts or doesn't accept petition
+3. if no fraud a company has 120 days to make a plan
+4. 60 days is then given to creditors to accept the plan
+5. investors then vote

mba/ch81.org

@@ -0,0 +1,84 @@
+#+title: Section 15 | Lesson 81 - Important Investment, Great Marketing
+#+HTML_HEAD: <link rel="stylesheet" type="text/css" href="../_share/media/css/org-media-sass/categories/business.css" />
+#+OPTIONS: H:6
+
+* Links
+- [[./../mba-main.org][TOC | Business]]
+- [[https://www.udemy.com/course/an-entire-mba-in-1-courseaward-winning-business-school-prof/learn/lecture/4307066#overview][S15:L81 course video]]
+
+* notes
+
+** term sheet
+- non binding
+- basic terms
+- you can do it for free
+
+** chat explanation
+
+*** Purpose
+- Non-binding summary of key terms before drafting full legal contracts.
+- Serves as a blueprint for the final agreement.
+
+*** Common Use Cases
+- Startup investments (VC/angel funding)
+- Mergers and acquisitions (M&A)
+- Partnerships and joint ventures
+- Large financing deals
+- Real estate or major service agreements
+
+*** Key Sections in a Term Sheet
+**** Valuation & Investment
+- Company valuation
+- Amount to be invested
+- Price per share / equity percentage
+
+**** Rights & Governance
+- Board seats
+- Voting rights
+- Investor protections or veto rights
+
+**** Founder & Team Provisions
+- Vesting schedule
+- Roles and responsibilities
+- Restrictions (e.g., non-compete, full-time requirement)
+
+**** Financial Terms
+- Liquidation preference
+- Dividends (if any)
+- Anti-dilution protections
+
+**** Exit & Transfer Terms
+- Rules for selling the company
+- Buyout scenarios
+- Rights of first refusal / co-sale rights
+
+**** Legal & Administrative Terms
+- Closing conditions
+- Due diligence requirements
+- Timelines for completing the deal
+
+*** Binding vs Non-Binding
+- Most of the document is *non-binding*
+- Binding parts typically include:
+  - Confidentiality
+  - Exclusivity / no-shop clause
+  - Dispute resolution
+
+*** Why a Term Sheet Matters
+- Aligns expectations early
+- Reduces legal costs
+- Prevents misunderstandings
+- Speeds up negotiation and contract drafting
+
+
+** minimal structure for a term sheet
+1. Parties
+2. Purpose of agreement
+3. Investment amount / contribution
+4. Ownership or percentage rights
+5. Governance (decision-making, voting)
+6. Financial terms (profit split, dividends)
+7. Restrictions (non-compete, full time, IP ownership)
+8. Exit terms (what happens if someone leaves)
+9. Timeline / closing conditions
+10. Binding clauses (confidentiality, exclusivity)