Updated Feb, 3rd 2013
Modern, beautiful financial models. Quickly build your financial model today.
StarterModel (http://www.startermodel.com) is a SaaS-based financial modeling website designed specifically for entrepreneurs during the business planning stage. It’s vital for potential business owners to dive into the revenue and cost structures of their business, as it pertains to their business model, in order to determine if their business is viable. Until now, most people have had to rely on Excel for such modeling. StarterModel eliminates the Excel dependency by using a GUI input system to take in user inputs, which then are mapped out to an online spreadsheet that is easy to read and understand the big picture. As the startup grows, so does the model. Connected to various financial web services, this model can also grow by adding complexity. It can pull in competitor and market info for ratio analysis and connect with accounting software (specifically QuickBooks) to make analysis easier (e.g., variance analysis).
What’s more, already in development is essentially a GUI wrapper for Excel, allowing users to enter assumptions and cost and revenue drivers without being tied down a particular model. Pre-built models offer a place to start with and structure; however, to truly get the most out of them you must add, update, and delete various sections (or start over completely). With my approach there is no model. You start from scratch and the model is built for you. It’s also infinitely scaleable. So, as your business grows – your model does too. It’s easy to add components and complexity.
The pricing structure is simple: There are two tiers. The first tier has an initial setup fee and is free to use for six months. This is meant for users who want to get a quick snapshot of their business and then use their own software after that for modeling. The second tier has a discounted setup fee, but then has a monthly fee after that. There will be discounts for users who sign up for 6 months and 1 year. Additionally, consulting as well as a completely free tier may be available as well.
Cost and Revnue Drivers
Revenues: one time fees, recurring revenues, consulting
Costs: Development, Hosting, Support, Marketing, Internet, Phone, Accounting, Insurance (possibly liability), payrool, FICA, equipment, supplies, legal, travel and entertainment
User Acquisition: Adwords, Udemy (course), Content Marketing, Social Branding, Customer Experience (evangelists)
Sustainable Differentiation: First to market, customer support, partnerships, consulting