Best Practices for Building a Financial Model

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Here are some best practices in building a financial model for your startup.

Consider setting up the model to use for managing the business as well as the fundraise.

Design the layout so you can test assumptions and scenarios.

Capture your assumptions into the model so you can change them when the business conditions change.

Use conditional features of the spreadsheet to highlight in color the status of the metric or result.

Highlight key numbers such as revenue, margins, and cash flow.

Embed metric calculations into the spreadsheet, so it automatically calculates often-used metrics.

Set up the spreadsheet so you can have multiple scenarios.

Apply checksums to verify your spreadsheet is accurate.

Be sure to use a standard font and a clean design throughout the spreadsheet, as investors will correlate a clean-looking spreadsheet with accuracy of numbers.

While these practices will take a little more time, the benefits outweigh the cost.


Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.
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On this episode of Investor Connect, Hall welcomes Adam Judelson, President and COO at mePrism.

Founded in 2019, me​Prism believes that your online data is your property and that you have a natural right to privacy and the freedom to make choices without hidden influence. me​Prism hopes to help its clients collect all of this data from the many corners of the Internet, organize that data and place it in their mePrism Data Bank account. If companies need that data to make their products work for you, they can pay you for your consent through mePrism’s marketplace. Companies that bid for your data are required to explain how they will use it so that you can decide for yourself if that is what's best for you and your family's privacy. You control your data. You know who is using it, why, and exactly how they are using it.

Adam is a serial entrepreneur. He has spent his career protecting the public interest with data, from his time as a national security analyst in the government to Palantir Technologies where he headed up the most profitable product line, to his role as an Adjunct Professor at Georgetown teaching a course he pioneered called Disruptive Analytics. Adam brings a unique blend of mission orientation, product and technology passion, and analytic rigor to each of his endeavors as well as the ability to convey the most complex topics simply to any audience.

Adam discusses what led him to start working in the data industry and how mePrism fits into the landscape, government controls and how it impacts businesses, monetizing data and more.

You can visit mePrism at www.meprism.com, via LinkedIn at www.linkedin.com/company/meprism/mycompany/, and via Twitter at www.twitter.com/mePrism1. 

Adam can be contacted via email at adam@meprism.com, via LinkedIn at www.linkedin.com/in/adam-judelson, and via Twitter at www.twitter.com/Ajuggles.  

_____________________________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact info@tencapital.group   

Please follow, share, and leave a review.

Music courtesy of Bensound.