Expenses, sales, hires and just about everything else never go exactly as planned. But how do those differences impact your future plans and projections? We want it to be as easy to keep your plan up to date with Opstarts as it is to get started so you always have accurate answers to questions like that. We’ve added two new features that make it easy to keep your plan updated and in step with changes in your business.
- Actuals – Updating your plan to make it up-to-date with your most current results is as easy as entering 4 numbers. Just enter in your employee expenses, other expenses, revenue, and investments received during the month, and Opstarts will update your cash balance and projections like remaining runway and cash requirements so you always know where you stand. We’ll be expanding this feature to let you drill down and reconcile actuals for specific expenses, products, etc. Click on the “A” underneath the month label in the Overview chart to enter or update actuals for any completed month.
- Revisions – Subscriber numbers, growth rates, conversion percentages, salaries, and many other item properties often don’t grow at a nice, even rate. With Revisions, you can change the properties of any item starting from any month. For example, you could make a salary revision for employees the month you raise a round of funding. Or increase the conversion percentage of a product the month you launch a new website. Or have a seasonal sale on a product, then add another Revision next month to go back to the original price. You can also use these Revisions to update items based on real results. For example, if you planned for monthly organic growth of 5% in your plan, but within a couple of months that has increased to 10%, simply create a Revision for the product and update the organic growth number. Revisions are an easy way to model how things constantly change and grow in the real world. Just click the link in the top left of the edit dialog to add Revisions to an item.
We’ll be expanding both Actuals and Revisions to allow for even more modeling flexibility. Try them out and let us know where you’d like us to go deeper with these features. Thanks!
Sign up for the Opstarts alpha program here