User Tools
Differences
This shows you the differences between two versions of the page.
| Both sides previous revision Previous revision Next revision | Previous revision Next revision Both sides next revision | ||
|
faqs [2016/05/28 13:42] mdavis |
faqs [2016/09/19 11:42] mdavis |
||
|---|---|---|---|
| Line 26: | Line 26: | ||
| <php>echo "<b>What is ".$conf['comp_name']."?</b>";</php> | <php>echo "<b>What is ".$conf['comp_name']."?</b>";</php> | ||
| - | For taxpayers, [[:turbotax|TurboTax]]® asks questions in a simple, orderly fashion about your earnings, expenses, etc. and generates a tax return.\\ | + | For taxpayers, TurboTax® asks questions in a simple, orderly fashion about your earnings, expenses, etc. and generates a tax return.\\ |
| For someone considering starting a new business, <php>echo $conf['comp_name'];</php>: | For someone considering starting a new business, <php>echo $conf['comp_name'];</php>: | ||
| Line 38: | Line 38: | ||
| - The financial statements are designed to present your business in a professional way to prospective investors and lenders. | - The financial statements are designed to present your business in a professional way to prospective investors and lenders. | ||
| - Performs an exhaustive analysis of the financial plan, especially of those things that potential investors and lenders would focus on - and points out potential problems - complete with advice on how to address problems - so that the plan is solid and defensible BEFORE you approach them. | - Performs an exhaustive analysis of the financial plan, especially of those things that potential investors and lenders would focus on - and points out potential problems - complete with advice on how to address problems - so that the plan is solid and defensible BEFORE you approach them. | ||
| - | - | + | |
| <php>echo "<b>Who needs ".$conf['comp_name']."?</b>";</php> | <php>echo "<b>Who needs ".$conf['comp_name']."?</b>";</php> | ||
| - | * Entrepreneurs with or without accounting and/or finance skills | + | * Founders, business owners and executives with or without accounting and/or finance skills |
| * If you lack accounting and/or finance skills, <php>echo $conf['comp_name'];</php> generates all your pro forma financial statements for you, and explains everything it is doing in plain English. | * If you lack accounting and/or finance skills, <php>echo $conf['comp_name'];</php> generates all your pro forma financial statements for you, and explains everything it is doing in plain English. | ||
| * If you have accounting and/or finance skills, <php>echo $conf['comp_name'];</php> saves you hours of labor by generating all your pro forma financial statements for you, so you can spend your time crafting your strategy instead of playing with Excel formulae. | * If you have accounting and/or finance skills, <php>echo $conf['comp_name'];</php> saves you hours of labor by generating all your pro forma financial statements for you, so you can spend your time crafting your strategy instead of playing with Excel formulae. | ||
| - | * Advisors to entrepreneurs (mentors, educators, incubators) can use <php>echo $conf['comp_name'];</php> to help aspiring entrepreneurs understand their own companies. | + | * Advisors to founders, business owners and executives (mentors, educators, incubators) can use <php>echo $conf['comp_name'];</php> to help them understand their own companies. |
| - | * Investors (VCs, angels) can use <php>echo $conf['comp_name'];</php> to verify that candidate portfolio companies make financial sense. | + | * investors and lenders can use <php>echo $conf['comp_name'];</php> to verify that companies make financial sense. |
| <php>echo "<b>What does ".$conf['comp_name']." do?</b>";</php> | <php>echo "<b>What does ".$conf['comp_name']." do?</b>";</php> | ||
| Line 53: | Line 53: | ||
| * Provides step-by-step guidance to craft your business strategy and capture your business strategy as a set of assumptions. | * Provides step-by-step guidance to craft your business strategy and capture your business strategy as a set of assumptions. | ||
| * Automatically creates your //pro forma// financial statements from your business strategy assumptions. | * Automatically creates your //pro forma// financial statements from your business strategy assumptions. | ||
| - | * Provides detailed analysis of your pro formas, just like a potential investor would. And we recommend what you need to change in your strategy to fix any problems. | + | * Provides detailed analysis of your pro formas, just like a potential investor or lender would. And we recommend what you need to change in your strategy to fix any problems. |
| <php>echo "<b>Is ".$conf['comp_name']." compatible with lean startups?</b>";</php> | <php>echo "<b>Is ".$conf['comp_name']." compatible with lean startups?</b>";</php> | ||
| Line 70: | Line 70: | ||
| * Assumptions for Paid Growth | * Assumptions for Paid Growth | ||
| - Marketing and Sales Activity. Of the many marketing and sales activities that your company may have, which one is going to drive revenue growth? | - Marketing and Sales Activity. Of the many marketing and sales activities that your company may have, which one is going to drive revenue growth? | ||
| - | - Customer acquisition cost (CAC). If spending $10,000 on the specific activity creates, say, 200 leads, and you expect to convert 20% of them into prospects, and 50% of those into paying customers, then CAC should be recorded as $500, i.e., \\ \\ $10,000 / (200 x 20% x 50%). | + | - Customer acquisition cost (CAC). If spending $10,000 on the specific activity creates, say, 200 leads, and you expect to convert 20% of them into prospects, and 50% of those into paying customers, then CAC should be recorded as $500, i.e., \\ \\ $10,000 / (200 x 20% x 50%)\\ . |
| - Sales cycle. On average, how months elapse between the marketing and sales activity and the resultant customers are acquired? | - Sales cycle. On average, how months elapse between the marketing and sales activity and the resultant customers are acquired? | ||
| * Assumptions for Viral Growth | * Assumptions for Viral Growth | ||
