Founders

Unblock Monday

Describe a problem you're stuck with in a cast and I'll give you a cast-length suggestion (and may link to something else).

Like everything in this channel, people should feel free to jump in. AUA (ask us anything), not AMA.

I’m trying to learn from early-growth-stage founders/finance teams how they prepare monthly P&L statements/recurring investor updates type of financial reports, but it's challenging to get them to show me their step-by-step process over a call/in person. They often cite that the data is too sensitive or do not reply.

A 3rd-time founder with a Performance Marketing, Growth, and Business Development background. https://bueno.money

1. Do you have a lot of personal experience with this problem in a previous company / job?

2. Why do you think this is a problem worth solving?

Separately, define "early growth stage" — are you saying pre-product market fit or post-product market fit.

My sense is people stop sending investor updates after growth.

I agree with the second point, but it comes down to how much of a pain point for the person that has the budget / authority to buy a more automated solution.

If I'm a founder that hired a VP Finance who hired an financial analyst, this is not a problem. Not existential to replace that role with software if good enough

Thanks for responding, Dan!

1. I have some experience with my previous company. Completing monthly P&L takes almost a day, caused by manually exporting and importing bank account and subscription payment/refund statements to Google Sheets.

2. I believe manual and error-prone repetitive finance tasks can be automated.