Updated: Nov 29, 2021
Creating a budget for your startup is an exciting task, as it allows you to have insight into what the future will bring, creating a roadmap for your success.
There are a number of mistakes that I've seen Startup's make when first setting up their budget, causing their budgeting process to be less than ideal. Let's cover a few of them, and the steps to avoid these mistakes.
Here's an example of an export from a budget that I often times see when working with a Startup:
In the above picture, there are some high-level pieces of information like hires, CAC, and customers jumbled together. This is OK if it is a custom view on your model, but not OK if this is the only information that you have.
Let's cover a few reasons why this would be problematic: