How long does it take to build a financial model?
Firstly, what is a financial model?
Financial Model /fəˈnænʃəl ˈmɒdəl/ n. A representation, typically in Excel, of a business's projected financial performance based on various assumptions, used for forecasting, risk assessment, and decision-making.
Now,
How long it takes completely depends on your skill level and the complexity of the model you're building:
An experienced modeler can build a very simple financial model for a startup in a week or two.
For an inexperienced modeler or founder, that same model might take 3 months.
For a complex model, even an experienced modeler may take months to build something usable.
For example, in the last proposal I sent to a client,
The scope of the model they needed required almost 6 months of expert modeler time.
Considering what high-skilled modelers make per year,
You can imagine the kind of investment that requires
(Hint, think between $100k-200k 😱).
So here's the thing:
Models can take gobs of money and time to create.
And good financial models are CRITICAL for running your business well.
So, how do you build a model
Without blowing your entire budget
Or sidetracking you from everything else in your business?
Here's my solution:
You take my Financial Modeling 101 course,
Then, we do a month of coaching sessions where we build the model together.
For years, I've been working on a solution to this small business modeling problem
And I'm pretty darn excited to finally have an option
That actually works for founders
Who don't have time or money to spare.
If you or someone you know needs a simple financial model
For fundraising, for scaling, or for better understanding their business,
Just give me a shout,
And they can join the beta group.
Enjoyed reading this article? Subscribe to receive more via email here.
Know a Founder or Entrepreneur who'd love this content? Please share it!
