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How to Model Startup Financials


Most startup financial models are inaccurate, unachievable, and lack actionable detail. Learn how to create a defensible model that instills confidence, improves execution, and leads to fundability.

Duration: ~2 hours



How to Model Startup Financials:

Investors regularly see founders making wild, unsubstantiated claims with rocket ship, hockey stick growth. Founders fail to realize that pipe dream numbers actually creates doubt that hurts their story and credibility. Successful investor pitches include numbers that are detailed, supported by bottoms-up data, realistic, and provable. Learn how to build a defensible financial model that satisfies skeptics, instills confidence, and impresses investors.

The spreadsheet included with this training class serves as a major launch pad for founders to build a comprehensive, defensible financial model. We’ve invested over 500 hours to create a tool that saves founders 60, 80 or even 100+ hours when building out detailed scenarios and testing assumptions to visualize their financial path forward.

Features of our ready-to-use spreadsheet include:

  • Three-years of bottoms-up monthly data
  • Projected users, revenue, expenses and cash flow
  • Multiple growth scenarios
  • Parameterized metrics for easy customization
  • Multiple variants to support various revenue models
  • Executive summary charts and tables
  • Purpose-built for easy reusability

The initial modules for this class are available now with more modules to be released in the next few weeks.

What You'll Learn

  The problem with bad financial models

  • The importance of accurate financial models
  • Typical startup financial modeling
  • Walkthrough actual examples of poor financial models

  Requirements of great startup financial models

  • Monthly detail
  • Parameterized assumptions
  • Multiple growth scenarios
  • Employee hiring plans
  • Sanity checks
  • Visual charts & summaries
  • Support for fundraising processes


  Revenue models

  • SaaS / subscription
  • Marketplace
  • Enterprise
  • E-Commerce / hardware
  • Advertising
  • Usage-based

✔  Elements of financial models

  • Users / customers
  • Revenue
  • Expenses
  • Cash flow

  How to use the tools included with this class


Tools Included:

  • Financial modeling spreadsheet with over 20,000 cells, formulas & references (Microsoft Excel)

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