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Why You Need A Financial Plan?

Why You Need A Financial Plan?

The goal of an early financial plan is not to demonstrate how great the opportunity is. The goal of an early-stage plan, especially for first-time founders, is to show investors you truly understand what drives growth.

Unless your team has a proven track record, your financial plan should serve as a tool to convince investors you know what you are talking about. Use it to show where you are going, how fast you want to go and most importantly, explain how you will get there.

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MORE IDEAS FROM THE SAME ARTICLE

Financial plans are nothing more than a bunch of unproven hypothesis thrown together. These hypotheses can be grouped into 2 categories.

  1. Revenue growth hypothesis (what drives growth)
  2. Cost-structure hypothesis (what drives cost)

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