Do you Financially Model your Startup? Take this Poll & See Where You Stand…

If you’re a startup or someone starting a new business, and you’re looking for funding from your local bank or VCs, you’re going to need to submit a set of financial statement projections. Your business plan isn’t really complete without a set of “pro forma,” or projected, financial statements. To generate financial statements, you’ll need to create a decent financial model of your business operations.

A financial model is a quantitative representation of a company’s business operations and is an invaluable planning tool. These models serve as the foundation and basis of standard financial accounting reports, including the Balance Sheet, the Income Statement, and the Statement of Cash Flows.

Here’s a simple poll for that you’re welcome to take to see how you fare with other startups in aspect of a typical financial model — budgeting. The responses to the poll are available for you to view after your submission. Please forward to business owners you think may get a kick out of this.