If your startup needs no funding, what is the use of a detailed business plan?

You may not need a “business plan”.

But you sure need an operating plan — a very detailed financial model.

If you don’t build an operating plan, and track against it, what I can almost guarantee you is costs will run away from. Not necessarily in big chunks, but an extra expense here, a contractor there.

Combine bigger expenses with a miss on revenue, even a minor one — and you can quickly get into trouble.

Build a real operating model / plan, at least in a Google sheet. And have your finance person (even if she’s just a 4-hour-a-month person) track vs. the plan every month.

It will keep you much more on track.

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Published on October 16, 2017

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