1-4-2016: The Beginning

I did two main things on my first day today: learn about Microsoft Excel and brainstorm ideas for the model.

To review, the point of my intensive is to create a financial model that the Business Opportunities Task Force can use to evaluate business opportunities, but in order to do this, there are several things I first need to do, which include learning about the basics of using Microsoft Excel from a financial standpoint and brainstorming ideas for my financial model.

I spent perhaps a couple of hours using online resources that Mrs. Spurgeon had picked for me to get up to speed with Microsoft Excel. Prior to today, I had only ever used Microsoft Excel for its visual purposes in creating a basic table. Even though I didn’t get very far through the video courses, I’ve already learned of several analysis features in Excel. For example, the filter command is one of Excel’s features that can sift through a selection of data and only return data that matches the criteria one specifies.

I expect to learn much more about using Microsoft Excel and how it will allow me to create my financial model, my final project.

Brainstorming and discussion were a huge part of what we did today. Mrs. Spurgeon had several logistical questions regarding potential income sources and expenditures in terms of an expansion. We discussed these together and recorded our thoughts, knowing that I’ll need to do some in-depth research later about actual dollar amounts so that I can eventually put them in my model. Here is a picture of part of our brainstorming, which lists some sources of potential startup costs for a theoretical satellite expansion of the Early Learning Center.

One thing that I’m realizing more and more is that nonprofit organizations (like Maumee Valley) are not that different than businesses. Both have to evaluate the financial feasibility of a project before they dive into it. They both have budgets that need to be managed. They both need to look at their income sources and determine the best use for their money. Nothing is free, even for a 130+ year old school that does a lot for its students and the community.

I wasn’t really able to write that much for today because there are several things that I’m still learning. Mrs. Spurgeon has also been spending some time with basic vocabulary that she uses in the business office and how it translates to me creating a financial model. It’s not easy, coming from someone who has no interest in business or finance, or at least someone who currently thinks this. But I’m willing to learn, and I’m doing this intensive because I love Maumee Valley and want to take a closer look as to how it runs.

I've learned a lot today, and I'm looking forward to the mysteries of tomorrow!