Financial Modelling for Startups. A spreadsheet By Any Other Name?

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I recently saw Ga Vin Lee announce these workshops last week and he copped a bit of good natured flack, but seriously, under all the LEAN startup bravado, JFDI, fake it before you make it, fail fast and fail often mantras, is the underlying fact that you will have expenses, limited cash, uncertain income and diminishing returns (whatever that means) which translates to cashflow, which you need to plan for.

Heres the workshop description.

“One of the critical elements in building a startup is the development of a financial model to represent your business.

In this 2-session workshop, we’ll show you how to build a simple financial model for your startup. We’ll give you a model template (in Excel) and work with you step by step to build up all the key components you need to answer many of the questions you’ll be frequently asked, including:

How much money do you need?

When and how will you make money?

What targets do you need to achieve to be profitable?”

And to top it off, its actually a fundraiser for Cure For Life Foundation, (a brain cancer research charity) so its a win – win – win minus expenses plus accruals.

Check it out at Financial Modelling for Startups Tickets, Perth – Eventbrite.