Task 6: The Finances Workbook
Let's talk money!
In financial modeling, you will paint a picture of your business's financial situation, including its revenue and expenses, as well as a plan for the future. Done well, a financial model helps startup leaders take control of their numbers. Mapping out your expenses can save you a lot of heartbreak. We often think of supplies as the major expense, but it is important to create a list of expenses including:
Increase in rent, utilities, storage
Food & drink bills
Marketing & Design costs
Events, conferences, courses, etc.
Employee benefits or volunteer perks
Cost of stolen or damaged products
This financial model is essential in understanding the cost of doing business and should be at the forefront of pricing your goods or services.