How To Monitor Your Sales Forecast

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Forecasting revenue is an important skill because investors want visibility into it.

To forecast better, use the Trailing Four Months model.

In this model, calculate the growth rate by taking the average of the growth rate over the last four months.

Use this growth rate to forecast the remainder of the year.

Do the same for burn rate.

Set up a spreadsheet that calculates this automatically at the end of each month.

This will give you an ongoing estimate for the year.

It compares sales and burn.

This takes the guesswork out of forecasting and gives the investors a data-driven forecast.

Knowing where the company stands is important in making decisions.

Share this model with investors so they can track your progress.

Monitor your sales forecast with the trailing four-month model to understand where the company stands.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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In this episode of Investor Connect, Hall T. Martin welcomes Mike Sloan, the founder and CEO of Simple Labs. Mike introduces the audience to Cogni, a ground-breaking device designed to address some of the major challenges in the wine and spirits industry, such as product loss due to evaporation and spoilage. With real-time monitoring, Cogni provides distilleries and wineries valuable insights, allowing them to better manage their product quality and significantly increase their return on investment.

Mike emphasizes the importance of continuous barrel monitoring and how Cogni's integration of ML and AI technologies offers unprecedented data visibility and efficiency. Already conducting beta tests and receiving positive industry feedback, Simple Labs aims to launch in the bourbon and wine markets, with expansion plans to service a global market.

With strong financials, a dedicated team, and a pipeline of potential clients, Simple Labs is poised to disrupt and innovate within this traditional sector. Tune in to learn more about Mike's journey, the technology behind Cogni, and the promising future of Simple Labs in optimizing the wine and spirits production process.

_________________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https:/_/tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.

Mistakes in Scaling the Startup

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The seed stage grows the business from 0 to $1M.

The growth stage grows from $1M to $10M.

The scaling stage grows from $10M to $100M.

Here are the most common mistakes founders make at the scaling stage:

They stop working on sales to focus on other areas of the business.

The founder can never stop working on sales.

They fail to control the burn.

The burn rate must be managed throughout the life of the business.

They fail to keep up with the competition.

The competition will continually challenge the startup, and it must be managed.

They look to hire "rock star" players.

These rarely work out in the long run, as they often don't fit the culture.

Failing to keep up with the product.

As the company grows, the product continues to grow so it's important for the founder to keep up with it.

Overestimating sales capacity.

Founders often overestimate how much the team can manage.

Reaching for the upmarket.

Startups often try to move upmarket to gain a higher dollar sale per customer.

Doing this at the expense of the core business is detrimental.

Consider these mistakes in scaling the startup.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org

Check out our other podcasts here: https://investorconnect.org/
For Investors check out: https://tencapital.group/investor-landing/
For Startups check out: https://tencapital.group/company-landing/
For eGuides check out: https://tencapital.group/education/
For upcoming Events, check out https://tencapital.group/events/

For Feedback please contact info@tencapital.group

Please follow, share, and leave a review.

Music courtesy of Bensound.