We’ve recently decided to share the simple budget we made for Unit before raising our $3.6m seed round. We’ve decided to remove sensitive numbers / items and share it with friends as they were getting ready to raise their own first round. All of them found it helpful, so we’ve decided to turn it into a template that can serve most early-stage startups. You can find it here or on the link at the end of this post.
What’s in the budget
This 2-year budget template includes the following, quarter-by-quarter:
- Business milestones: launch, # clients
- Expenses: payroll (headcount), non-payroll, one-time
- Revenues 1
- Cash in bank: calculated from $ raised, expenses and revenues
Two things that benefit directly from a good budget are your own risk management and your fundraising process. Let’s explain this.Continue reading