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• Archive: Evan Kimbrell, Symon He - Financial Modeling for Startups & Small Business Reasons why you should create a financial model for your startup or small business.
• A good financial model can help you: Test your assumptions and verify key drivers of your business Compare and contrast different business choices, like pricing models Calculate the ACTUAL amount of capital you need to startup Calculate your burn rate Model out your user growth Model out your expenses Be more prepared talking to potential investors And loads more.
• Building a financial model isn't just a vanity exercise.
• When done right, it could help you better understand your business, whether it's a startup or an existing business you're growing.
• But it's not easy and there is a right way and a wrong way to go about it.