Financial Modeling for Business Owners and Entrepreneurs: Developing Excel Models to Raise Capital, Increase Cash Flow, Improve Operations, Plan Projects, and Make Decisions

"Using lean methods across a portfolio of start-ups will result in fewer failures than using traditional methods." -- Steve Blank."I love this book! This review is dedicated to my father. Like my father, Mr. Tom Y. Sawyer outlines brilliant start-up strategies in functional and operational components. Don't jump the gun. He implores you to switch from strategy (overindulgence) to ACTION.He applies Microsoft Excel as a device to develop financial models before writing a formal business plan. Don't buy expensive dashboard applications. Plus, they have a learning curve that wastes time! Customize them from scratch using Excel to better suit your unique business model. Learn Excel!Why?"There is a high probability that you will need to borrow or raise money at some point in the life cycle of your early-stage venture. One day, you will find yourself making a pitch to a relative, a banker, and angel investor, or venture capitalist seeking the funding you need to build or grow your business."Once you have painstakingly completed his "what if" scenarios (at the same time you are "growing up" from your plan written on a napkin) towards MVP with a Start-Up Team - as a founder, this book will give you a HUGE moving-forward-progress advantage - writing a formal business plan (after MVP) will be much easier, AND your team will survive the overwhelming odds against you and arrive at MVP!"You must be able to explain the logic, rationale, and workings of your venture with enough clarity to enable investors, lenders or potential partners to make a determination of value. They must be able to arrive at an understanding of your company’s value if you are to attract the resources you need at different scales."The perceived value of the early-stage venture is the primary determinant of its ability to attract the resources needed to grow a startup. Don’t underestimate the value equation in attracting top-tier investors, talent, and employees. High-quality stakeholders make similar calculations of value to determine if they are willing to invest their time, energy, and reputations by coming to work for your venture (or sell to you), always a risky proposition. (modified)HOMEWORK: Dive into how Mr. Sawyer explains "Value Events." Brilliant!Time is money. More importantly, time is our most valuable commodity. Put skin in the game. GRAB THIS BOOK and JUST DO IT.

Great!!

The book was improved in this edition. There is a new chapter in decision making that is, just as the entire book, very insightful.I consider this book a very valuable source because it connects the business thinking with the financial model in a simple and direct manner. Even if you are experienced you get a lot from this book. It complements other books like the ones from Steve Blank. A very nice contribution to the entrepreneurship community. We can gain a lot from author's experience.It makes easier for you to formulate and test the hypothesis of your business model. Also offers a very straight manner to make plans of possibles paths for your startup. Here is also embedded a project management perspective that help you to keep focused on the relevant activities.Definitely a must have!

Very good and recommendable book for smart entrepreneurs