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Finance for Product People: From Unit Economics to Business Cases
Put numbers behind product decisions. Work out what one sale really earns, read a P&L without mixing up GMV and revenue, see why profit is not cash, plan cash month by month, judge growth spending and product bets with NPV, build forecasts and budgets, and pick the costs that matter, all on realistic data from an online tutoring school.
Free32 lessons~16 h 20 min of learning
Module 1: What does one lesson earn us?
What a lesson and a package leave after their own costs; fixed, variable and step costs; break-even and margin of safety; whether cheaper group lessons pay.
- 1.1Contribution margin per unit: what one lesson leavesContribution margin per unit, step by step: price minus tutor payout, fees and video minutes, and what a lesson and a package really earn.~28 min
- 1.2Cost behavior: fixed, variable and step costsCost behavior on a real year of costs: which costs move with lessons, which don't, and which jump at a threshold.~26 min
- 1.3Break-even point in units and margin of safetyBreak-even point in units: how many lessons a month cover the fixed costs, and how far sales can fall before a loss.~29 min
- 1.4Case: should Klasna launch group lessons?A group-lesson pilot sold well. Judge it by contribution margin: fill per session, cannibalization of the 1:1 lessons it replaced and the break-even of a new coordinator.~42 min
Module examComplete 4 more lessons to unlockModule 2: Are we actually profitable?
Reading a P&L top to bottom; GMV, commission and what counts as revenue; when prepaid and subscription money becomes revenue; explaining a quarter.
- 2.1How to read a P&L, top to bottomHow to read a profit and loss statement: revenue, cost of revenue, gross profit, operating expenses, EBITDA and operating profit, and what the P&L doesn't tell you.~26 min
- 2.2Take rate: what a marketplace really earnsTake rate and GMV vs revenue: why the money families pay is not all Klasna's revenue, and when a company reports the full price instead.~25 min
- 2.3Deferred revenue: when prepaid lessons are earnedA deferred revenue example: prepaid money is a liability until the lesson happens, then recognition as lessons are delivered or a subscription runs, and what to do with lessons nobody takes.~29 min
- 2.4Case: a board report for a new board memberA board report on the quarter: rebuild Klasna's autumn P&L from raw lines, separate what will repeat from what won't, and back the memo with numbers.~39 min
Module examComplete 4 more lessons to unlockModule 3: Where did the money go?
Profit vs cash; the cash flow statement and how the three statements connect; burn and runway; a profitable company short of cash.
- 3.1Profit is not cash: net income vs cash flowNet income vs cash flow, month by month: how accruals, prepayments, invoices and equipment make the P&L and the bank disagree, and how to get from one to the other.~26 min
- 3.2The cash flow statement and the three financial statementsHow the three financial statements link, with a cash flow statement example: operating, investing and financing cash, built from profit with the indirect method.~25 min
- 3.3Burn rate, cash runway and staying aliveGross and net burn, how to calculate cash runway, and whether the company reaches its next good season before the money runs out.~28 min
- 3.4Case: profitable on paper, short of cash in AugustA year of profit and cash side by side: find what causes the cash flow problems, size the August gap and write a plan to fix it without panic borrowing.~40 min
Module examComplete 4 more lessons to unlockModule 4: How much cash does growth need?
Working capital; receivables and payment terms; a twelve-month cash plan with seasonality; funding corporate growth without a loan.
- 4.1Working capital: who pays whom firstPrepayments, payouts and invoices: the cash conversion cycle, working capital on one date, when negative working capital funds growth and why other lines eat cash.~27 min
- 4.2Receivables and payment termsWhat a 60-day payment term really costs, how to put it in the price, when an early-payment discount pays off, and how DSO shows late payers.~28 min
- 4.3A twelve-month cash flow forecastA cash flow forecast example, month by month with real payment timing: prepayments, payouts twice a month, quarterly invoices and the summer valley a yearly total hides.~28 min
- 4.4Case: can Klasna grow Teams without a loan?Three profitable corporate deals and a summer cash low: test invoice payment terms, invoicing, prepayment and pace against the buffer, and decide whether working capital financing needs a loan.~42 min
Module examComplete 4 more lessons to unlockModule 5: Does growth pay for itself?
Price vs volume; discounted LTV and CAC payback in cash terms; why fast growth eats cash; doubling marketing before exam season.
- 5.1Price vs volume: how many customers can a discount lose?The price vs volume trade-off: how much volume a price cut must win, or a price rise may lose, before contribution moves.~27 min
- 5.2Discounted LTV and CAC payback in cashWhat a customer is worth in today's money and when their acquisition cost comes back.~29 min
- 5.3Overtrading: why fast growth eats cashOvertrading in numbers: acquisition is paid today and earned back over months, so a fast growth plan digs a cash hole first.~29 min
- 5.4Case: double marketing before exam season?Marginal CAC by channel, what a seasonal customer is worth and the cash a doubled marketing budget needs.~40 min
Module examComplete 4 more lessons to unlockModule 6: Is this bet worth making?
Time value of money; NPV, IRR and payback; hurdle rate and cost of capital; building a video classroom vs paying per minute.
- 6.1Time value of money: why a hryvnia next year is worth lessTime value of money with examples: present value, future value, discounting and the rate you discount at.~27 min
- 6.2NPV, IRR and payback for a product betHow to calculate NPV and IRR for a product bet, what payback adds, and where each one misleads.~27 min
- 6.3Hurdle rate and cost of capitalWhat return a bet must beat, and why riskier bets need more.~27 min
- 6.4Case: build our own video classroom or keep paying per minute?A make or buy decision in cash: two options, their incremental cash flows, the NPV and the assumptions that decide it.~39 min
Module examComplete 4 more lessons to unlockModule 7: What will next year look like?
A driver-based forecast; scenarios and sensitivity; budgets people believe; plan vs actual by price, volume, mix and currency.
- 7.1Driver-based forecastingDriver-based forecasting: revenue and profit from learners, lessons, price and payout instead of last year plus ten percent.~28 min
- 7.2Scenarios and sensitivityWhich assumption matters most, and a plan for the weak case.~28 min
- 7.3Budgets people believeTop-down targets, bottom-up detail, and no padding.~26 min
- 7.4Case: plan vs actual by price, volume and mixPrice volume mix analysis: splitting a plan vs actual miss into price, volume, mix and currency.~42 min
Module examComplete 4 more lessons to unlockModule 8: Which costs matter for this decision?
Relevant, sunk and opportunity costs; the allocation trap; debt vs equity; a one-page finance memo for a funding round.
- 8.1Relevant, sunk and opportunity costsWhich numbers belong in a decision and which only feel like they do.~27 min
- 8.2The allocation trap: should we drop programming?A subject that looks loss-making only because of the shared costs it carries.~29 min
- 8.3Debt vs equity: leverage, dilution and riskWhat a loan and an investor each do to returns, risk and ownership.~25 min
- 8.4Case: a one-page finance memo for the next roundThe numbers an investor asks for, and a recommendation on how to fund growth.~42 min
Module examComplete 4 more lessons to unlock