Financial Projections Template | Newsletter #1

Choose from two templates to create your projections

Welcome to the first edition of this newsletter. Every ~2 weeks, I’ll share useful perspectives on the early stage startup process. Today, we are discussing Financial Projections.

Are you struggling with creating 18-month financial projections for your startup as part of your VC pitching process? 

Here are two Google Sheets templates to create a financial model that I’ve personally used:

The first one is meant for enterprise B2B startups that have partner-led and inside-led sales. The second is a more simplistic model for B2C “freemium growth” startups.

Make a copy and try it out. 

If you’d like help constructing your financial model, feel free to book a time with me via Intro (, I’ve opened up some slots over the next 10 days.

Some frequent questions I’ve received regarding financial projections: 

I’m an early stage founder and when I pitch VCs, they keep asking for projections, what should a good 18-month financial projection model have? 

At the most basic level, three things: Burn Rate, Revenue, Headcount (all shown monthly).

At a deeper level, three more things: Growth Rate, Scalability, GTM strategy

Necessary output: Burn vs Revenue chart, Breakeven Date (or best guess if  >18mo.), Zero Date (when you have no more $ in your bank) 

What are the differences in the model for a B2B versus B2C versus Marketplace startup?

B2B: Show the number & impact ($) of enterprise partnerships. Show the number & impact ($) of enterprise pilot projects

B2C: Show user growth rate + more detailed marketing expenses breakdown

Marketplace: Show GMV, GMV growth rate, take rate

I’m just starting out and have no idea how my startup’s financials will be in 18 months. Is creating a model necessary?

Yes. Most VCs know that these models are not precise. The reason they ask for it is to make sure the founders are thinking about growth in a systematic way (though in practice it is anything but!). The more mature your startup becomes (say Series A and beyond), the more accurate & important these projections become. At the earliest stages, VCs are simply ensuring that the founder can show via a model how to manage, deploy, and conserve capital.

If and only if you’ve found this useful, refer your friends to sign up to this newsletter:

As always, feel free to book a time with me via Intro ( if you’d like to work with me 1:1 on pitch decks, GTM, marketing, etc.