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@andygcook firstly, great ideas, thanks! on the blank slate point, what if we let you decide if you want a template or not? would that be helpful?
Going to use this for my personal finances as well. As a contractor, always good to know your "worst case" scenario.
@elijahmurray Please let me know how it goes. Personal use wasn't top of mind for us, so would be interesting to see how it works for you :)
I marvel at teams that build such useful tools for free. In some ways it makes me feel guilty.😟Kudos to you guys! Looks like a lot of work went into this. Is there some sort of data angle or am I being super cynical?
Hey @hyonlee, i love this. Would you be interested in integrating into a SME fintech bank? My team at Penta, are building a digital business bank for high-tech companies in Germany and Europe. Would be great to chat if keen :) luka@getpenta.com
This looks like an incredibly useful service. One that surely will be able to replace my Excel spreadsheet and be much more helpful. When I clicked through to go to the site, I thought to myself, wouldn't it be great if this was a free service? I then clicked on the pricing page and was extremely grateful to see that it's being provided free as a public service. Bravo!
Cool tool! Would love to see some cost model integration, especially around labor categories like development, so we could project before bringing people on. This would help not only with budget planning, but actual allocation of dollars (ie: developers in SF vs Houston vs Upwork, etc).
@hyonlee Thanks. That is helpful. But I was thinking about some kind of link that says "Estimate labor" for example with some connectors to labor rates by geography or platform. For example are labor rates in various areas different, so that I get more "runway" by using people in Vancouver vs. San Jose. And if you help me better spend my dollars... I'd pay for that! : )
@hyonlee love what you guys have built. Possible to change currency? (eg INR) will be easier to get thru numbers. thanks :)
Congrats to the whole team, guys :) I see a bunch of tricky issues gracefully solved, it's always a difficult task to compromise between simplicity/ flexibility/ I-hate-Excel-leave-me-alone and still offering in-depth data. I was looking for such a tool for cash flow planning last year and eventually I ended up building my own, ThinkOut - http://thinkout.io.
Have you thought yet of offering a basic API to feed income/ expense data from 3rd parties? Although ThinkOut was built more around services businesses (IT/ creative industries) we do have some users in tech startups (SaaS mostly) that would love to have some key metrics available. Cheers!
@kristache oh wow, great work on thinkout! We don't have any public APIs available yet, but it's on our minds for sure. For now, we're focused on helping founders themselves and less on the landscape/ecosystem
I have worked with a lot of startups over the years, and one of the most common question any founder ever gets is: how much runway do you have left? I am repeatedly astonished how few founders really know the answer to this question. If that's you, you need to get on that right now! Don't take a guess or trust your gut on this one.
On the other hand, you can easily count the ways building your own excel/sheets version of this model from scratch sucks. Mistakes, bad security, terrible sharing, etc.
The LTSE team wanted to come up with something better, and this is our attempt. Thanks for all the comments so far! We love to hear your feedback.
Designers are getting a pretty bad deal in the product screenshot estimate and I feel really bad for the Part-time CFO but great product nonetheless 👌😀
@gazzer82 Hey gazzer82, yes we have one integration in the works which we will release soon. This will allow you to overlay your actual balance history on top of your planned balance.
@itswillcurran I've tried several, but they all generally fall over in one way or another. Quite often in how they handle VAT in the U.K. Any you would recommend in case I've missed them?
@gazzer82 I assume if Xero or Quickbooks online manage VAT well then Float would handle it perfectly. It's about making sure your accounting is setup correctly. I don't know about VAT to know for sure but I don't see why not?
Similar to https://getpoindexter.com/. But anything from Eric is dope, looking forward to kicking the tires.
i think this is a good tool. very useful for startups who have no people with finence knowledge in the team. maybe useful for seed or pre series A round startups. could not figure out how useful will it be for either very early stage ones (whose finances are still too much based on non-realistic assumtions) and for series c/d ones who need to buold complex financial models where cash flow is just one part, and in most cases does not reflect metrics which are in P/L statement
for what type/stage of startups is this tool relevant? seems that it is more for pre serias A? or even late stage?
@ericfriedman founders, especially early stage founders, are strapped for cash. a tool to help manage their cash shouldn't charge them :)
Tettra