Module 09: Financing Strategies (M9-EN)

Course Description

Objectives of this training module

Course Objectives/Goals

In this module, methods for the successful financing of product development and sales will be presented. Each individual financing option will be discussed and consequently the various alternative actions you may take will be addressed. You will not only learn about the different forms of financing, but also obtain insight into the philosophies of potential capital providers (Business Angels, banks, etc.).

Besides providing theoretical knowledge regarding financing models, specific real-life scenario examples will also be used to illustrate different alternative financing options or steps to be taken towards them. Current challenges faced by the representatives of monasteries will also be taken into consideration for the analysis of different financing possibilities.

Target Groups

Target Group

This training module is designed to fit the training needs of the monks and nuns, management, staff and volunteers at European monasteries, no matter if they are run by Catholic or Protestant Orders or the Orthodox Church; by public or private operators.

All modules are relevant for all target groups, but some have a more specific character. They are all interrelated. They are different in terms of information, skills and competences level and target three groups:

  • Target group 1: For people working on the implementation level like those in monastery shops three Modules are recommended: Module 1 as introduction to the training, Modules 3 and 4 about monastic products and authentic selling of monastic products. People starting to consider certain strategic aspects might get inspiration from Module 7 on value adding through networking.
  • Target group 2: For people with a special knowledge or experiences or a certain background and/or specified tasks in the monastic management, Modules 2 on marketing strategies, Module 5 on distribution strategies,  Module 8 on creating a strong brand, and Module 6 on social media and communication offer learning content and reflection.
  • Target group 3: People on a strategy decision level with a highly specialized / experienced background and respective responsibilities in a monastery (Modules 9 on financing strategies and Module 10 on sustainability aspects).

Gained knowledge and skills

Additional info

After studying this module, you will:

  • Understand the nature and characteristics of financing options;
  • Be aware of appropriate financing sources in preparation for your product development and sales activities;
  • Understand the various types and unique characteristics of financing in the different phases of your new business ventures;
  • Know the nature, characteristics and „killer criteria“ of different kinds of funding options; and
  • Learn about public programmes and donation sources that might be able to support your initiatives.

Training method

Instructional Methods

SKIVRE focuses on an interactive training approach, whether you use it as a self-learning course or instructed by a trainer. This training module includes:

  • Individualized self-learning - a powerful learning method that enables each learner, on the basis of his/her own experience and knowledge, and on the basis of newly acquired knowledge, to reach development decisions on his/her own.
  • Self-assessment - ongoing self-assessment tests or homework that learners send to their trainer prior to the commencement of each subsequent module;
  • You might also work in small groups of 2 or 3, e.g. if you decide to implement this module with colleagues as a self-learning group in your monastery or supported by an external trainer.

You gain knowledge individually or in a group using:

  • Training materials like this module;
  • Training materials in nine more SKIVRE training modules which are closely linked to this module;
  • The interactive SKIVRE online training platform: skivre.eu/training;
  • Facilitated training sessions for learning in a group with a professional trainer.

References



Study Materials

  • Brealey, Richard A., and Stewart C. Myers. “Principles of Corporate Finance”. 4th ed. McGraw-Hill, 1991
  • Brigham, Eugene F. , “Fundamentals of Financial Management”. 5th ed. Dryden Press, 1989
  • Kochhar, Rahul, and Michael A. Hitt. "Linking Corporate Strategy to Capital Structure." Strategic Management Journal. June 1998
  • Lindsey, Jennifer ,“The Entrepreneur's Guide to Capital”. Probus, 1986
  • Mishra, Chandra S., and Daniel L. McConaughy. "Founding Family Control and Capital Structure." Entrepreneurship: Theory and Practice. Summer 1999
  • Romano, Claudio A., et al. "Capital Structure Decision Making: A Model for Family Business." Journal of Business Venturing. May 2001
  • DeThomas, Art. “Financing Your Small Business: Techniques for Planning, Acquiring, and Managing Debt”. PSI Research, 1992
  • Heath, Gibson. “Doing Business with Banks: A Common Sense Guide for Small Business Borrowers”. DBA/USA Press, 1991
  • Lindsey, Jennifer. “The Entrepreneur's Guide to Capital”. Probus, 1986
  • Schilit, W. Keith. “The Entrepreneur's Guide to Preparing a Winning Business Plan and Raising Venture Capital”. Prentice Hall, 1990.
  • Smith, Richard L., and Janet Kiholm Smith. “Entrepreneurial Finance”. Wiley, 2000
  • Equity Financing, Dividends, Stock Options, Mezzanine Funds, Venture Capital, Business Angel, Corporate Investors, Crowdfunding, Business Plan
  • Barr, Stephen. "Where Cash is Anything but Trash." CFO: The Magazine for Senior Financial Executives. February 1998
  • Gladstone, David. “Venture Capital Handbook”. Prentice Hall, 1988
  • Kelting, John. "Innovative Financing Solutions." Acquisitions Monthly. October 1999
  • Schilit, W. Keith. “The Entrepreneur's Guide to Preparing a Winning Business Plan and Raising Venture Capital”. Prentice Hall, 1990
  • Timmons, Jeffrey A. Planning and Financing the New Venture”. Brick House Publishing Company, 1990
  • European Union, Access to finance, Link: https://europa.eu/youreurope/business/finance-funding/getting-funding/access-finance/index_en.htm
  • European Union, Find calls for funding - by topic, Link: https://ec.europa.eu/info/funding-tenders/funding-opportunities/find-calls-funding-topic_en
  • EU publications, Towards more efficient financial ecosystems. Innovative instruments to facilitate access to finance for the cultural and creative sectors (CCS): good practice report – study, Link: https://publications.europa.eu/de/publication-detail/-/publication/f433d9df-deaf-11e5-8fea-01aa75ed71a1
  • Training Manual - Fundraising for NGO's. Download link: https://de.scribd.com/doc/98786463/Training-Manual-Fundraising-for-NGO-s
  • Ernest Hayes, M.B.A.,B.Sc., Fadumo Alin, M.A.,B.A.,Lia van Ginneken, B.A. R.N., “A Guide to Fundrising”, Download link: https://www.scribd.com/document/335134792/A-Guide-to-Fundraising

 

Videos

 

Authors

Instructors

Author/s:

Angela Ivanova, Wolfgang Kniejski

Institution:

INI-Novation Bulgaria OOD