STARTUP 
ECONOMICS 101

ANDREAS
JAEGLE

The enduring success of a startup (or any business in general) eventually boils down to the soundness of the underlying economics of its business model. This highly participatory course gives students an introduction into the relevant financial metrics and key performance indicators (KPIs) that entrepreneurs should be watching closely - their (potential) investors most definitely will!

We will look at key elements of a startup’s profit & loss account, and how one derives from it an assessment of the all-important Unit Economics, Customer Lifetime Value (CLV), and Customer Acquisition Costs (CAC), and why their relation is important. We will touch on important concepts such as retention and customer cohorts, and how these impact the economics. Along the way, we will discuss the strategic choices entrepreneurs and functional startup leaders face, when they look for ways to improve the overall economics of their startup.

This course is a practitioner’s guide rather than a theoretical course, and it will draw extensively on the instructor’s personal experience in running and advising startups.

Vice President Operations, HitFox Group

As Vice President Operations, Andreas is part of the HitFox Group Leadership Team. Together with the CEO and the Executive Chairman he is driving relevant strategic and operational initiatives. Hitfox Group is an entrepreneurial investment firm that develops platforms of synergetic companies focusing on emerging digital markets: Heartbeat Labs builds healthtech companies. FinLeap specializes in financial technologies. A third platform grows advertising technology and big data businesses.

Previously, during his sabbatical leave, Andreas was advising startups, company builders, and executives on strategic, operational, fund raising, and financial matters.

Between 2015 and 2018, Andreas spent over three years as Vice President of Global Venture Development with Rocket Internet SE, working with the CEO Oliver Samwer and the Group Managing Director Alexander Kudlich. During this time, he served as interim Global Co-Founder of Foodora (now part of Delivery Hero), during which time he founded and ran operations in Denmark, Sweden, Norway and Finland, and helped expand the business from less than ten employees serving one city to more than 250 employees operating in twelve countries. Subsequently, he joined the Executive Team of Helpling (a Rocket Internet venture) and supported the two co-founders during a major consolidation and restructuring phase. In late 2015, Andreas founded Everdine, an award-winning subscription service for premium ready-meals with offices in Berlin and London, for which he raised 5.5 EURm in seed financing.

Before joining the startup world, Andreas worked with McKinsey & Co. as Junior Engagement Manager, serving clients in automotive, logistics, finance, and other sectors in Europe, as well as in Nigeria and China. Previously, he was part of JP Morgan’s Investment Banking Division, working with the Diversified Industrials & Transportation team in London as an Analyst.

Andreas holds an MBA from Harvard Business School, having graduated with distinction. He also holds an MSc in Financial Economics from the University of Oxford where he rowed for Oriel College. He graduated with First Class Honours from the London School of Economics in the BSc Management where he also played basketball on the Men’s First Team.

Andreas is enthusiastic about fitness and food. He is a keen beach volleyball player, skier, and passionate about classic and sports cars.

Students will acquire an appreciation for the basic economic fundamentals of any startup they may choose to get involved with. Students will also learn about some of the financial metrics and key performance indicators that investors will be watching closely when deciding to provide (further) funding to their venture.

In particular, students will learn about the relevance of certain elements of the profit & loss account (top-down view), and how these connect with the Unit Economics (bottom-up view). Students will understand the basics of customer acquisition and the associated costs (CAC). 

An introduction to the concept of customer cohorts will further the students’ understanding of how to arrive at Customer Lifetime Value (CLV), and how this can help them assess and communicate the overall viability of the underlying business model.

Students will further develop a basic appreciation of other (softer) KPIs that investors may look for, and in what situations other metrics and KPIs may carry greater importance.

SKILLS:

-Start-ups

-Entrepreneurship

-Fund Raising

-Launch Strategy

-International Expansion

-Financial Modeling

-Management

-Strategy

-Valuation

-Corporate Finance

ABOUT ANDREAS

HARBOUR.SPACE 

WHAT YOU WILL LEARN

DATE: 25 Mar - 29 Mar, 2019

DURATION: 1 Week

LECTURES: 3 Hours per day

LANGUAGE: English

LOCATION: Barcelona, Harbour.Space Campus

COURSE TYPE: Offline

HARBOUR.SPACE UNIVERSITY

RESERVE MY SPOT

DATE: 25 Mar - 29 Mar, 2019

DURATION:  1 Week

LECTURES: 3 Hours per day

LANGUAGE: English

LOCATION: Barcelona, Harbour.Space Campus

COURSE TYPE: Offline

All rights reserved. 2017

COURSE OUTLINE

STARTUP 
ECONOMICS 101

BIBLIOGRAPHY

“Contribution Margin:
What It Is, How to Calculate It,
and Why You Need It”
by Amy Gallo

"Don't Scale an Unprofitable
Business: Why Unit Economics
(Still) Matter"
by Toby Clarence-Smith

The enduring success of a startup (or any business in general) eventually boils down to the soundness of the underlying economics of its business model. This highly participatory course gives students an introduction into the relevant financial metrics and key performance indicators (KPIs) that entrepreneurs should be watching closely - their (potential) investors most definitely will!

We will look at key elements of a startup’s profit & loss account, and how one derives from it an assessment of the all-important Unit Economics, Customer Lifetime Value (CLV), and Customer Acquisition Costs (CAC), and why their relation is important. We will touch on important concepts such as retention and customer cohorts, and how these impact the economics. Along the way, we will discuss the strategic choices entrepreneurs and functional startup leaders face, when they look for ways to improve the overall economics of their startup.

This course is a practitioner’s guide rather than a theoretical course, and it will draw extensively on the instructor’s personal experience in running and advising startups.

"How to Calculate Cost of
Customer Acquisition (CAC)
in Ecommerce"
by Edward Gotham