Module 7: Your Financial Plan

Starting a business is a challenging but rewarding endeavor. Entrepreneurs must put in much effort, hard work, and dedication to make their venture successful. One of the entrepreneurs' most significant challenges is finding the necessary business funding. While several funding sources are available to startups, it is crucial to identify the most suitable option for … Continue reading Navigating Government Support Programs for Startups

Introduction Crowdfunding is exploding as a viable alternative to conventional early funding sources for startups. In 2021, the global crowdfunding market was valued at $13.64 billion and is expected to double by 2028, according to Statista. U.S. and Canadian markets accounted for the most significant volume of funds raised at 73.9 Billion. During this period, … Continue reading Startup Finance | Crowdfunding

In the last post, I offered a brief survey of the traditional funding sources for early startups. As in our textbook, I like to separate non-equity from equity funding sources, as the latter tend to be more applicable to later-stage ventures. By focusing on these early, non-equity funding sources. In a sense, every dollar counts towards … Continue reading The Practice of Bootstrapping

Any discussion on early venture funding should begin with what is needed based on the stage of the development. Most founders start the funding discussion with questions like, how can I meet venture capitalists to fund my new enterprise? The more savvy founder may ask the question: when is the appropriate time to start thinking … Continue reading Startup Finance | Early Funding

Over the past couple of posts, I have highlighted metrics to consider to measure product engagement and customer acquisition. For the final article on metrics, you will learn more about indices of your venture's financial performance. These metrics fall into three categories: Revenue, Profit, and Funding. The post ends with a discussion of the One … Continue reading Startup Metrics | Financial Performance

As we continue to explore the various elements of financial planning for startups, it is time to look at the multiple ways you can measure and monitor your performance once you launch your venture. In a previous post, I outlined several pre-launch metrics that founders should consider monitoring as they develop their business model. These pre-launch metrics … Continue reading Startup Metrics | Product Engagement

In the last few posts, I have discussed how to project startup revenues and costs for your venture. With these foundational financial model inputs, you can now go to Step 3 and build your pro forma financial statements. There are three primary financial statements for business: Income Statement, Cash Flow, and Balance Sheet. Let's start by looking at each … Continue reading Startup Finance | Financial Statements