Tool Makes Creating Financial Projections Simple

ProjectionHub helps entrepreneurs create financial projections without a PhD in spreadsheet modeling

Forget the 20 tab spreadsheet template! Entrepreneurs no longer need a PhD in spreadsheet modeling to create accurate and realistic financial projections for their startup or small business. ProjectionHub has developed a web application that allows entrepreneurs to generate a full set of financial projections on the web that can then be downloaded as an Excel spreadsheet.

Creating financial projections with spreadsheet templates is confusing and time consuming, yet most lenders and investors will ask a business owner to create a set of financial projections as part of the funding application.  Most spreadsheet templates have the same problems:

• Only an accountant would understand the terminology
• The templates don’t help the business owner understand the actual process of creating bottom-up, data-driven assumptions. 
• There is no easy way to provide examples or video explanations within the template 
• It is too easy to screw up the built in equations 
• They ask for more information than is actually needed to complete the projections 
• Business owners do not have the time or patience to complete the templates 
• And the templates are intimidating to the average small business owner. A 20 tab spreadsheet template is scary!

Most entrepreneurs don’t have a degree in accounting, and most entrepreneurs are overly optimistic. These two factors lead to terribly inaccurate and unrealistic financial projections.   TurboTax has proven that you can take an incredibly complex task like tax preparation and make it easy for the average person. Similarly ProjectionHub can help take a complicated task like creating financial projections and make it simple through a web interface.  

See the slideshow below with screenshots from the ProjectionHub application:

About the Author: Adam Hoeksema is the Co-Founder of ProjectionHub.  Adam also manages an SBA Microloan program for a technology based business incubator.