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Financial Model Cheat Sheet IBB Ventures

  1. The Financial Model Cheat Sheet
  2. Startups – Made in Berlin ● 2 What we want to understand Scaling of revenues Main cost drivers 1 2 3 Unit economics 4 5 Financing strategy Methodology
  3. Scaling of Revenues Key Question How does the top line scale? What we want to understand ▪ Short-term perspective: are the revenues in the upcoming months underpinned by the current sales pipeline? ▪ Big picture: Do you have growth ambitions that justify a VC investment? ▪ Through which channels are you planning to generate leads and what are the assumptions regarding lead conversion? ▪ Are there any up- and cross-selling potentials considered? ▪ Have you made plausible assumptions regarding customer life cycles (up- and downgrades, churn, retention)? ▪ In line w/ top down market assumptions (e.g. realistic market share)? Brett Sayles / Pexels
  4. Main Cost Drivers Key Question Which are the main cost drivers? What we want to understand ▪ Which cost factors correlate with your top line (e.g. CoGS, CACs) and are they derived appropriately? ▪ Is the value creation chain properly modeled and how do margins evolve at scale? ▪ Based on degree of vertical integration: are potential dependencies on third parties modeled? ▪ As we often see personnel intensive business cases: how do you plan headcount? Are the salaries consistent with market-standards? Pixabay / Pexels
  5. Unit Economics Key Question Are profitable unit economics at scale realistic? What we want to understand Based on the assumptions as stated before: ▪ What is the ratio of LTV to CACs. How long does it take to recover CACs? ▪ How do unit economics evolve at scale? Leio McLaren / Unsplash
  6. Financing Strategy Key Question What is your financing strategy? What we want to understand ▪ How much funding will be needed in total? ▪ How do you plan to stage further cash injections? ▪ Do you raise enough cash in this round to achieve an appropriate KPI level for further financing rounds/an exit? ▪ Can you outline a comprehensive equity story? ▪ Are typical working capital issues considered? Jordan Benton / Pexels
  7. Methodology Key Question Has the financial plan been created in a methodically meaningful way? What we want to understand ▪ Does the model leave the impression that the founders understand their business and are able to illlustrate its mechanisms? ▪ Are the assumptions clearly displayed? ▪ Ideally, the financial plan has been prepared in a way that allows us to perform sensitivity analyses (at least with the major drivers) to understand how volatile your assumptions are! Kamila Maciejewska / Unsplash Scott Webb / Unsplash
  8. IBB Beteiligungsgesellschaft GmbH Bundesallee 210 10719 Berlin +49 (0)30 2125 3201 Die IBB und das Land Berlin beteiligen sich je zur Hälfte an den Fonds, letzterer mit Unterstützung durch Mittel aus dem Europäischen Fonds für regionale Entwicklung der Europäischen Union. Unsere Partner Virtual Office Hours Further Questions? Fridays at 2 p.m.