Learning modelling is probably a bit like learning to surf. You can look at it and talk about it forever, but at some point you've got to just get out there and "do it".
Build your own model
The quickest way to come up the curve now is to find an opportunity (e.g. as part of a work project) to build your own model. Hopefully, in an environment where you have a few friends you can say "Hey, how can I do this?". That's the quickest way to keep learning now.
Practise using your keyboard shortcuts?
If you want to get faster, we've got some material to help you bone up on your Excel shortcuts.
Buy a book?
Don't rush out and buy a book (they can be helpful, but it's like the difference between reading about surfing - which is always something that's going to be hard to describe - instead of doing it) - unless it's something you decide you can keep on your shelf and use for reference as do your own modelling.
Make use of Excel's own 'built in' resources
Get used to clicking on Excel's fx (insert function) button all the time as you see other modellers using functions you haven't seen before - that will help you work out what they're trying to achieve. Get used to using Excel's help function all the time (it takes a bit of effort, but it's generally very good).
Hone in on the Excel functions most likely to help your modelling
Excel is massively over-engineered (they feel like they have to add something every time they want to try and sell you a new version - and they've been bringing out new versions regularly for more than 20 years) and the very good news is that you can survive a career in finance using hardly any functions at all. People around you may use all kinds of functions to try and make themselves feel clever compared to others:
But maybe they're not quite as clever as the soul-surfing modellers who aren't going to be intimidated by what everyone else does; the modellers who play their own game, constantly challenge themselves to solve the problem in the neatest way possible, work out how to break the problem into clear logical steps, are really careful about how they structure their model, and use just a few neat functions at each stage (https://www.google.co.uk/search?hl=en&q=soul+surfer+definition&meta=&rlz=1I7ADRA_en).
The most helpful Excel modelling functions
Here is some of the material we looked at on the course. It highlights some of the Excel functions you will likely find most helpful for modelling: Excel modelling functions.
If you are determined right now it might be helpful to work through it (questions/ feedback always gratefully received). But you might just want to save it for future reference as you continue with your own modelling.
Get surfing/ start modelling!
Time to paddle out into the waves/ fire up Excel!
Posts
No comments:
Post a Comment