Forecastr

Great insights this morning from Matthew Khalili of The Plan Writers and Jeff Erickson of Forecastr on the neuroscience of raising capital. As a startup entrepreneur without a strong financial skill set, Forecastr has been invaluable to WoundCareIQ Set to go to market for MobileCareIQ in preparation for our October launch. #forecastr #planwriters #angelinvestor #startup #medstartup #startupcapital #startupfunding #woundcareiq #mobilecareiq #woundcare #mobilewoundcare #michaeltbenson #arizonabased

Half of all fundraising for the year happens between Labor Day & Christmas. I was excited to see Jeff Erickson share this because we're coming up on crunch time. There's never a "perfect" or "right" time, but almost every founder we meet regrets not starting their fundraising process sooner. 😅We usually hear that they wanted to raise "yesterday." Even if you're "not ready", it's never too early to: ✅start to build a relationship with potential investors ✅ask investors what KPls they want to see ✅ask potential strategic investors if they're open to being added to quarterly updates on the company Most checks won't arrive after one call and a good relationship should be treated like a marriage - you start by dating & getting to know each other first! (Usually 🤣) ————————————————- 🙌 US-based founders - Apply to our Investor Prep Program at the link in my bio to

Guess who's coming to Indianapolis for the RALLY Innovation Conference!!! George Munguia 🥥 is back in the USA and is coming to INDY!!! George helped us build our partnership program at Forecastr and is now the Co-Founder of Coconut VA -- a company that helps startups scale by taking the admin tasks off of the founder's plate so they can focus on what is important for growing their business. They essentially help you "Buy Back Your Time" as Dan Martell would put it. 💡 I'm thrilled to be teaming up with George again, along with our friend Jason Hammond with Fidelity Private Shares to host the first Founders N' Funders event in Indianapolis later this month! In partnership with Joshua Kline, Ted Velie and Midwest House, we have organized a unique VC Pitch Event ..... where the tables are turned and the VCs will be pitching to the founders. This event is specifically for full-time founders who are raising venture capital and takes place on August 27th following the final keynote speaker at the RALLY conference that day. If you are a full-time founder or a venture investor, you can apply to attend by registering here: https://lnkd.in/guGn2GZm ____ ♻️ Please share with other founders who may be interested in attending the FNF VC Reverse Pitch Event. 🥥 And, check out Coconut VA if you are a founder needing help getting admin tasks off your plate. Tell George you were referred by Jeff Erickson and he will hook you up with a Special "Friends & Family Offer". 😉

I tried running a business Without keeping track of finances. I focused on the big picture. → Marketing, → Growth, → Customer acquisition While neglecting the numbers behind the scenes. It felt like I was building a house without checking if the foundation was solid. I learned the hard way that budgeting and financial planning are not just administrative tasks. They’re essential for long-term success. Without a clear financial strategy, → I faced cash flow problems, → Unexpected expenses, and → Ultimately, a lot of stress. Tracking expenses, creating a budget, and planning for the future aren’t just about keeping the business afloat, They’re about setting it up for sustainable growth. A well-managed budget allows you to → Make informed decisions → Invest wisely, → Weather financial storms. Now, I prioritize financial health as much as any other aspect of my business. It’s become a cornerstone of my strategy, Helping me build a more resilient and successful operation. LESSON: Budgeting and planning are crucial for long-term success. → Plan, → Budget, → Succeed.

Do early-stage startups need a financial model as they raise their angel or pre-seed round? A recent post from Tim Nielsen resurfaced this frequently debated topic and he made a great case for why founders shouldn't push back against creating a financial model, even super early on. Tim notes that founders often argue that it is difficult to create a financial model when their company is pre-revenue, because there are so many unproven assumptions. Mapping out a three-year (or potentially five-year) forecast can seem like crystal ball gazing at the early stages. However, he proposes that "the PROCESS of creating a financial model" is foundational and critical for startup founders for the following reasons: 1️⃣ Fundamentals: A competent financial model demonstrates an understanding of your business and the unit economics at play. 📊 Metrics: It identifies key performance indicators and shines a light on critical metrics (and fosters early experimentation and assumption validation). ⏳ Expectations: It places key milestones on a set timeline and illustrate your burn rate and runway in a manner that you can track against. 🤝 Accountability: Financial models set the expectations around what will be accomplished before a venture faces its next capitalization stage This is why it is never "too early" to start modeling your assumptions, determine your businesses true drivers, and lay the groundwork for your validation methods going forward. Do you agree? —— ♻️ If you found this helpful, please share PS - If you need help building a financial model, post "📈" in the comments and I'll send you a link to Forecastr's free financial model templates that will help get you started.