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Entrepreneurs use spreadsheets all the time, but most are not good at it

Suggested by SA Serge Amouzou over 4 years ago

1. Entrepreneurs use spreadsheets all the time, but most are not good at it. The process of building a financial model, much less having decision-ready data once the business is up and running, is tedious. 2. Product managers in medium enterprises must present financials to management and show the potential ROI to win approval for new products. Putting together these financials is a tedious spreadsheet process. Each product manager formats their financials differently. The abundance of non-uniform financials leads to chaotic collaborations. 3. Small businesses (e.g. bakeries) fret over the capital resources to get off the ground and run smoothly. After hours in the spreadsheet, confirming where investment is needed most for growth hinges on questioning the same assumptions repeatedly. Imagine a software platform where a user inputs data and gets beautiful reports/charts instantly. Such reports/charts can be of the breakeven point, burn rate, and capital requirements. Further, the software compares inputted financials to the industry and projects realistic scenarios. In other words, the software makes decision-ready financials available. In addition, collaboration can be seamless across organizational layers. Imagine a software platform where a user connects their bank account/customer data sources and gets recommendations for marketing, sales, and product spends instantly. Such recommendations are based on years of financial data from publicly traded companies, giving the powers of fortune 500 companies for SMB scale.

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MM
over 4 years ago

CTO and Founder @ Clinicalbox, Inc.

There is definitely a strong need for such a solution. Are there affordable offerings that combine financials (including things like cap table) along with HR ?

Tim Connors core team
over 4 years ago

Founder, MD @ PivotNorth Capital

Hey Serge -- I'm super interested in hearing more about this. My company OpStart manages financial ops for 45+ startups, so there is lots of overlap in our worlds. We love collaborating with talented people building great products in this space! Let me know if you're up for a call to discuss soon.

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Tim Connors core team
over 4 years ago

Founder, MD @ PivotNorth Capital

are you coding all this personally at finpro?

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