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get-started:quick-start [2016/05/28 13:34] mdavis |
get-started:quick-start [2016/09/19 13:22] (current) |
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| - The name of your company. <php>echo $conf['comp_name'];</php> will display this at the top of financial statements. | - The name of your company. <php>echo $conf['comp_name'];</php> will display this at the top of financial statements. | ||
| - | - The industry in which your company will be doing business. <php>echo $conf['comp_name'];</php> will use this to (a) estimate a valuation for the company in 5 years, (b) estimate how much inventory your company will need to maintain (if any), <nowiki>(c)<nowiki> estimate the gross margins and profitability that you will achieve based on industry averages. | + | - The industry in which your company will be doing business. <php>echo $conf['comp_name'];</php> will use this to (a) estimate a valuation for the company in 5 years, (b) estimate how much inventory your company will need to maintain (if any), %%(c)%% estimate the gross margins and profitability that you will achieve based on industry averages. |
| - | - The name of your product. Feel free to keep this as "my product," or change it if you prefer to whatever you like. [[:get-started:quickstart|QuickStart]] allows you to have just one product. If you want to model more products, switch to the standard mode. | + | - The name of your product. Feel free to keep this as "my product," or change it if you prefer to whatever you like. QuickStart allows you to have just one product. If you want to model more products, switch to the standard mode. |
| - The price of the product. Enter the average price per unit that you expect to sell the product for during the first year. | - The price of the product. Enter the average price per unit that you expect to sell the product for during the first year. | ||
| - Annual price increase. Enter the expected annual percentage increase in the price. | - Annual price increase. Enter the expected annual percentage increase in the price. | ||
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| <php>echo "<font size='4'><b>Additional Questions:</b></font>";</php> | <php>echo "<font size='4'><b>Additional Questions:</b></font>";</php> | ||
| - | **How often can I change values of these 8 assumptions in the [[:get-started:quickstart|QuickStart]] Mode?** | + | **How often can I change values of these 8 assumptions in the QuickStartMode?** |
| You may make changes to these 8 assumptions as many times as you like. After making each set of changes, you can examine the financial statements and see how your company will do. | You may make changes to these 8 assumptions as many times as you like. After making each set of changes, you can examine the financial statements and see how your company will do. | ||
| - | **How can Offtoa create all my financial from just eight assumptions?**<php>echo $conf['comp_name'];</php> makes many additional assumptions based on your selection of industry. As a result, your financials will end up looking like an "average company." In reality, no startup looks like an average company though! [[:get-started:quickstart|QuickStart]] is designed to do just that; it gives you an ability to get off to a quick start, and that's all. We highly suggest that after using [[:get-started:quickstart|QuickStart]], you switch to the Standard Mode to enter more accurate values for all your assumptions. That way you can see what the financial statements for your company would really look like. | + | **How can Offtoa create all my financial from just eight assumptions?** |
| - | **How much analysis of my company will Offtoa do when I select the [[:get-started:quickstart|QuickStart]] Mode?** | + | <php>echo $conf['comp_name'];</php> makes many additional assumptions based on your selection of industry. As a result, your financials will end up looking like an "average company." In reality, no startup looks like an average company though! QuickStart is designed to do just that; it gives you an ability to get off to a quick start, and that's all. We highly suggest that after using QuickStart, you switch to the Standard Mode to enter more accurate values for all your assumptions. That way you can see what the financial statements for your company would really look like. |
| - | In the Standard Mode, <php>echo $conf['comp_name'];</php> looks for and reports to you roughly 100 different conditions that you should know about. For each, <php>echo $conf['comp_name'];</php> also tells you which assumptions you can change to "fix" the problem. Because [[:get-started:quickstart|QuickStart]] Mode has just 8 assumptions, <php>echo $conf['comp_name'];</php> is in effect making the rest of the assumptions for you . . . and making those assumptions to produce acceptable financial results. As a result, when using [[:get-started:quickstart|QuickStart]] you will see only about a dozen or so conditions that <php>echo $conf['comp_name'];</php> will report to you. | + | **How much analysis of my company will Offtoa do when I select the QuickStart Mode?** |
| - | **Why would I use [[:get-started:quickstart|QuickStart]] Mode?** | + | In the Standard Mode, <php>echo $conf['comp_name'];</php> looks for and reports to you roughly 100 different conditions that you should know about. For each, <php>echo $conf['comp_name'];</php> also tells you which assumptions you can change to "fix" the problem. Because QuickStart Mode has just 8 assumptions, <php>echo $conf['comp_name'];</php> is in effect making the rest of the assumptions for you . . . and making those assumptions to produce acceptable financial results. As a result, when using QuickStart you will see only about a dozen or so conditions that <php>echo $conf['comp_name'];</php> will report to you. |
| - | The only reason to use [[:get-started:quickstart|QuickStart]] is to get instant feedback on your business concept. It is like a back-of-the-envelope calculation. It is like the feedback you get when you stop an experienced colleague in the hallway and ask, "what do you think of this new business idea?" but the analysis that <php>echo $conf['comp_name'];</php> does is all about the financials. | + | **Why would I use QuickStart Mode?** |
| - | **Why do I have no marketing and sales expenses when I use [[:get-started:quickstart|QuickStart]] Mode?** | + | The only reason to use QuickStart is to get instant feedback on your business concept. It is like a back-of-the-envelope calculation. It is like the feedback you get when you stop an experienced colleague in the hallway and ask, "what do you think of this new business idea?" but the analysis that <php>echo $conf['comp_name'];</php> does is all about the financials. |
| - | [[:get-started:quickstart|QuickStart]] allows you to enter 8 assumptions, and then makes very broad assumptions about every other aspect of your company. Concerning expenses, if the average company in your industry spends x% of its revenues on expenses, <php>echo $conf['comp_name'];</php> assumes that you will spend x% of your revenues on expenses. You can of courses override the value of x by changing the value of EBITDA in your assumptions. In any case, <php>echo $conf['comp_name'];</php> makes no attempt to divide these expenses into categories such as marketing, sales, R&D, manufacturing, and so on. If you want to do this, switch to Standard Mode after using [[:get-started:quickstart|QuickStart]] Mode. Click on Other Expenses. There you will find one entry for miscellaneous expenses that was created by the [[:get-started:quickstart|QuickStart]] Mode. Feel free to zero this row out, and replace it with rows for actual expense categories. | + | **Why do I have no marketing and sales expenses when I use QuickStart Mode?** |
| - | **What are the differences in available assumptions with [[:get-started:quickstart|QuickStart]] Mode vs. Standard Mode?** | + | [[:get-started:quick-start|QuickStart]] allows you to enter 8 assumptions, and then makes very broad assumptions about every other aspect of your company. Concerning expenses, if the average company in your industry spends x% of its revenues on expenses, <php>echo $conf['comp_name'];</php> assumes that you will spend x% of your revenues on expenses. You can of course override the value of x by changing the value of EBITDA in your assumptions. In any case, <php>echo $conf['comp_name'];</php> makes no attempt to divide these expenses into categories such as marketing, sales, R&D, manufacturing, and so on. If you want to do this, switch to Standard Mode after using [[:get-started:quick-start|QuickStart]] Mode. Click on Other Expenses. There you will find one entry for miscellaneous expenses that was created by the [[:get-started:quick-start|QuickStart]] Mode. Feel free to zero this row out, and replace it with rows for actual expense categories. |
| + | |||
| + | **What are the differences in available assumptions with QuickStart Mode vs. Standard Mode?** | ||
| > | > | ||
| - | | | \\ **[[:get-started:quickstart|QuickStart]] Mode** | \\ **Standard Mode** | | + | | | \\ **QuickStart Mode** | \\ **Standard Mode** | |
| | Number of Products | 1 | Unlimited | | | Number of Products | 1 | Unlimited | | ||
| | Number of Markets | 1 | Unlimited | | | Number of Markets | 1 | Unlimited | | ||
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| | Loans | No | Yes | | | Loans | No | Yes | | ||
| - | **What are the differences in reports available when using [[:get-started:quickstart|QuickStart]] Mode vs. Standard Mode?** | + | **What are the differences in reports available when using QuickStart Mode vs. Standard Mode?** |
| | | **QuickStart Mode** | **Standard Mode** | | | | **QuickStart Mode** | **Standard Mode** | | ||
