What are pro forma financial statements?

Listen to the podcast here

https://dylangallagher.podbean.com/mf/play/vqmwg5/apr10_proforma_final.mp3?_=1

What is your balance sheet going to look like next year? The year after? What about three years from now? Do you care? Many times the answers to these questions are: not sure, no idea, don’t know and yes I care but I don’t have the information to properly answer these questions. It’s very typical for a small or medium sized business to not know what their financial statements are projected to look like over the coming year much less the next three years. Many times they will have a budget (that is usually inconsistent with their historical performance) but haven’t done the work to take the budget one step further and have it flow into an actual set of pro forma financial statements.

What are pro forma financial statements and why do they matter?

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Bankers, crowdfunding and old school start-ups

In this week’s podcast Dylan talks about how hard it is to get financing and share some thoughts on crowdfunding. Have you been in busy for more than 10 years? How is your business adapting to the new marketplace?

https://dylangallagher.ca/wp-content/uploads/2015/02/february-12-2015-02-192015-11-44-am.mp3?_=2

 If you are an entrepreneur, business owner or investor and need help with a finance related issue, challenge or opportunity – click here to connect with me. Let’s chat.

Fringe bankers. A new term I may use again (and again)

Matt Horne, Founder and CEO of DECO Windshields chatted with me yesterday in a Google Hangout about all things business finance.  Matt has built a company that generates over $5,000,000 in revenue and had lots to say about money, business and the learning curve that he has had to go on to keep the doors open while dealing with massive growth.  He used a term – “fringe bankers” – to refer to capital groups in the market that have been able to help DECO with their cash needs.  I like the term and think I will be adding it to my vocabulary.

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