David Ehrenberg of Early Growth Financial Services discusses the importance of creating a 3-year financial plan for startups. The presentation covers how to build bottom-up financial projections including revenue forecasts, spend budgets, and cost assumptions. It also addresses the iterative process of reforecasting the model on a quarterly basis to continuously improve assumptions as the business evolves. The overall goal is for the financial plan to serve as a roadmap that clarifies decision making and objectives while validating assumptions around funding milestones.
Two Hour Financial Model is an excel-based template and series of videos that will help you learn to create a financial model quickly. For students, entrepreneurs, CFOs, and business owners. Checkout our website and Udemy video series.
Everything startup founders need to know about building a solid accounting and finance foundation for their growing companies.
In this presentation from David Ehrenberg, Founder and CEO of Early Growth Financial Services (www.earlygrowthfinancialservices.com) topics covered include:
- A-P/A-R best practices
- Pre- and post-funding finance functions
- Startup tax obligations
- Building your bottom-up and top-down financial projections
- Financial statements
- Cash flow forecasts
- and more!
Two Hour Financial Model is an excel-based template and series of videos that will help you learn to create a financial model quickly. For students, entrepreneurs, CFOs, and business owners. Checkout our website and Udemy video series.
Everything startup founders need to know about building a solid accounting and finance foundation for their growing companies.
In this presentation from David Ehrenberg, Founder and CEO of Early Growth Financial Services (www.earlygrowthfinancialservices.com) topics covered include:
- A-P/A-R best practices
- Pre- and post-funding finance functions
- Startup tax obligations
- Building your bottom-up and top-down financial projections
- Financial statements
- Cash flow forecasts
- and more!
How to draw up a business Plan through the market research you have done, what audience to get and how to get them, and how to use your market and business plan to outdo your competitors.
50+ CFO/Controller Best Practices for the Big PictureDoeren Mayhew
Doeren Mayhew Shareholder Juan Padilla shares more than 50 ideas to better manage the CFO/Controller workload so you can play a more strategic, big-picture role in the success of the company.
You need a business plan to document your business and your go forward plan. This is especially important if you are looking for financing. This outlines what is required for a business plan.
Accounting metrics needed to implement a marketing strategyNicole Newman
Do you know what profits a 10% increase
in your marketing budget would generate? We will help you answer key questions like:
• What are the most important marketing metrics to use?
• How to measure my various marketing programs’ impact on revenue and profit?
• How to best communicate marketing results with my executive team and board?
Global Naos Group
Агентство полного цикла - это современный подход к продвижению.
Global Naos Group (GNG) - это агентство полного цикла. GNG - команда профессионалов, знания и опыт которых достаточны для организации полного цикла услуг в
сфере дизайна и 3d видео-мэппинга, медиа и пиара, продвижение на форумах и в социальных сетях, организации и технической поддержки мероприятий, организации
конференций и бизнес туризма, проведение рекламных кампаний и т.д.
How to draw up a business Plan through the market research you have done, what audience to get and how to get them, and how to use your market and business plan to outdo your competitors.
50+ CFO/Controller Best Practices for the Big PictureDoeren Mayhew
Doeren Mayhew Shareholder Juan Padilla shares more than 50 ideas to better manage the CFO/Controller workload so you can play a more strategic, big-picture role in the success of the company.
You need a business plan to document your business and your go forward plan. This is especially important if you are looking for financing. This outlines what is required for a business plan.
Accounting metrics needed to implement a marketing strategyNicole Newman
Do you know what profits a 10% increase
in your marketing budget would generate? We will help you answer key questions like:
• What are the most important marketing metrics to use?
• How to measure my various marketing programs’ impact on revenue and profit?
• How to best communicate marketing results with my executive team and board?
Global Naos Group
Агентство полного цикла - это современный подход к продвижению.
Global Naos Group (GNG) - это агентство полного цикла. GNG - команда профессионалов, знания и опыт которых достаточны для организации полного цикла услуг в
сфере дизайна и 3d видео-мэппинга, медиа и пиара, продвижение на форумах и в социальных сетях, организации и технической поддержки мероприятий, организации
конференций и бизнес туризма, проведение рекламных кампаний и т.д.
More startup pitch deck examples here: https://attach.io/startup-pitch-decks/
AirBnb's original pitch deck from 2008. They closed a $600k seed round with this deck.
The slide deck we used to raise half a million dollarsBuffer
This is the pitchdeck we used to raise half a million dollars from Angel investors. More here:
http://onstartups.com/tabid/3339/bid/98034/The-Pitch-Deck-We-Used-To-Raise-500-000-For-Our-Startup.aspx
Fundraising Series (Part One) - "Building Your Story"Pemo Theodore
Learn what investors really want to know about your company. During the Fundraising Series, you will have the opportunity to:
Review an operating plan; Analyze and build your target market size; Study market strategy; Understand your competitive landscape; Build your financial model; Construct an investor value proposition
Speakers:David Ehrenberg, Founder, Early Growth Financials; Sean Jacobsohn, Partner, Emergence Capital; Arif Janmohamed, Partner, Lightspeed Venture Partners; Steph Palmeri, Principal, SoftTech VC See archived livestream video https://new.livestream.com/orrick/yourstory
Building Your Financial Model Key Startup Metrics David Ehrenberg
Does your financial model explain how your business really works? Give you clear insight into the financial health of your startup? Tell a story that inspires investor confidence and will help you to raise capital?
As Guy Kawasaki said so well in his entrepreneurial bible Art of the Start, “the point of financial projections is to tell a story with numbers—a story about opportunity, resource requirements, market forces, growth, milestone achievements, and profits."
Finance nuances for a scaling venture - SAYesAnjana Vivek
Session on finance for 25 young entrepreneurs @ the South Asian Young Entrepreneurs Summit (SAYes) organised by The US Consulate General Chennai and The Indus Entrepreneurs (TiE) Bangalore Chapter
Startup Economics, Finance and Accounting 101Dan Nelson
A quick look into some of the necessary finance, accounting and economic needs for early stage startups. It is a short survey, and there is more to come on this really interesting space.
For more information, please contact Dan@techbrainstorm.com
In this 1 hour webinar hosted by BizCentral USA, we discuss the ways to use and update your business plan to be most effective for your small business! For more information on business plans, please visit: http://bizcentralusa.com/businessplan.php
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Let's dive deeper into the world of ODC! Ricardo Alves (OutSystems) will join us to tell all about the new Data Fabric. After that, Sezen de Bruijn (OutSystems) will get into the details on how to best design a sturdy architecture within ODC.
2. About Early Growth Financial Services
• Outsourced financial services firm
providing finance, accounting, valuation,
and tax services for early-stage
companies
• Extensive experience working with
companies at all stages of development
• 180+ successfully funded clients
throughout CA, NYC, Boston, and Seattle
• Services include: transactional
accounting, strategic financial guidance,
taxes, CFO services, 409a valuation,
corporate governance, and more.
www.earlygrowthfinancialservices.com
2
3. David Ehrenberg
Founder and CEO – Early Growth Financial Services
• Founded Early Growth Financial Services
in 2008
• Startup mentor with a passion for helping
early-stage companies to build, establish,
and manage their infrastructure, processes,
and procedures
• Specialize in venture funding, debt
financing, strategic planning, corporate
strategy, business and financial plans, and creating
company infrastructure
• CPA, MBA from University of Washington, BS Accounting
and Finance from Georgetown University
www.earlygrowthfinancialservices.com
3
4. Presentation Overview
The essentials of startup financial management
• What is a financial model?
• Process for creating a financial
model
• Goals, objectives, and milestones
• Bottom-up financial projections
• Spend
• Budgeting
• Top-down projections
• Cost assumptions
• Reforecasting
www.earlygrowthfinancialservices.com
4
5. Why a 3-Year Financial Model?
A comprehensive financial pictures serves as the road-map
for your business
• Helps you understand your cash burn
• Forces you to evaluate key
performance drivers
• Validates your assumptions
• Puts challenges into perspective
• Iterative process continuously
improves your assumptions
• Insight into your business model
• Clarifies decision-making process
(short-term and long-term)
• Gives you leverage of accurate
baseline valuation
www.earlygrowthfinancialservices.com
5
6. What Goes Into a 3-Year Financial Model?
Essential components to your model
Major
objectives
Timeline
Milestones
Key
assumptions
Key variables
Trending
analysis
www.earlygrowthfinancialservices.com
3
7. Identify Major Objectives for Your
Company
Assess where you are and what you want to achieve
Venture funding and
negative cash burn
Positive cash burn and
no venture funding
What do you want to accomplish
with next raise?
What are the goals you want to achieve
during this time period?
www.earlygrowthfinancialservices.com
8. Process for Creating Your Financial Model
How to approach the process and get buy-in
1. Go to stakeholders and members of
executive team – what do they need to
achieve objectives (revenue, product,
market, strategic, etc.)?
2. What is needed from a
programmatic perspective?
3. Compile information and discuss
with CEO (maybe executive team):
total amount requested relative to
milestone
4. Dialogue about wants and tradeoffs
5. Use dialogue to create bottom-up
forecasting budget
www.earlygrowthfinancialservices.com
8
10. Spend for Bottom-Up Projections
Consider relevant operational costs and check cost
assumptions
•
•
•
•
•
•
•
Customer/Cost details
Human resource costs
Consultant and professional services
Research and development
Office and admin
Sales and marketing
Capital spending
www.earlygrowthfinancialservices.com
10
11. Budgeting
Use your budget to plan your actions
• Budgeting created on accrual basis: budgeting
versus actual results
• Difference between cash and accrual is
around capital expenditures
• Report budget by department and major cost
drivers (expense categories and revenue
categories)
• Plan actions: how quickly will this impact
revenue and what will you be able to achieve
based on spending
• Identify key variables
• Identify key revenue assumptions
• Run different scenarios
www.earlygrowthfinancialservices.com
11
12. Budgeting Exercise
Start from a milestone perspective
• Look at historical costs
• What do you need to
accomplish before you run out
of money, or in a specific time
period
• Ask budget owners what they
need to accomplish goals
• Tradeoffs
• Trending analysis
• Trending initiative
www.earlygrowthfinancialservices.com
12
14. Reforecasting
Your financial plan is always evolving
• Don’t do a 5-year plan, at
most 3-year
• Update your budget on a
quarterly basis (at least)
• For investors budget on a
quarterly basis for first year
and then annually
• What’s realistic in terms of
timeline and reforecasting
on monthly or quarterly
basis?
www.earlygrowthfinancialservices.com
14
15. Final Thoughts
“The point of financial projections is to
tell a story with numbers—a story about
opportunity, resource requirements,
market forces, growth, milestone
achievements, and profits.
Your job is to create a numerical
framework that complements and
reinforces the vision you’ve painted with
words.” – Guy Kawasaki
www.earlygrowthfinancialservices.com
15
16. Thank You!
Early Growth Financial Services
David Ehrenberg
dehrenberg@earlygrowthfinancialservices.com
www.earlygrowthfinancialservices.com
415.234.3437
Follow us @EarlyGrowthFS
www.earlygrowthfinancialservices.com
16