Tell us about your entrepreneurial product or service.
GrowthCast is a software application to help small business owners do cash flow and revenue forecasting just like the big guys.
What inspired you to launch your business idea?
My last business was a consulting firm. Early on in my tenure, we were making a large financial decision and didn't really have great visibility into our future financials. As a firm with forward looking contracts, we should have had at least some clue. I went home that night and spent all weekend building a set of Excel spreadsheets to look at both our future expected revenue and cash flow.
Over the years we found these hugely useful, but because we had different types of projects and employes (W2's, 1099s) and customers with different payment cycles, the spreadsheets got very complicated. Really beyond the capabilities of Excel.
After I left that business, I was looking for my next adventure and one of my mentors suggested I make this tool into a product. After talking to many business owners and getting a favorable reaction I decided to give it a go, and here I am.
What problem does your business or organization solve?
GrowthCast allows small business owners to do the same kind of financial forecasting that the big guys do, without a dedicated CFO. This allows them to know:
If they can afford that new hire
If the can afford that big purchase
If they need to beef up their sales and marketing
When they can spend and when they can save
What has been your biggest challenge as an entrepreneur and how are you working to overcome it?
Letting go of trying to do it all
Give us one word that people might use to describe you.
How has Project Eve helped you and/or your business?
I love learning about what other entrepreneurs are doing and how they are overcoming their challenges.
Give us an insider tip that relates to your industry or startup story.
Keep a close eye on you cash flow. Even if you don't think you're financially inclined, you can do it, and 82% of businesses that fail do so due to cash flow issues.
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