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  • Writer's pictureKseniia Teslenko

How We Flushed Our Savings: A Startup's Guide to Financial Planning

Updated: Jun 28

As first-time founders of a SaaS startup, we thought we had it all figured out. Spoiler alert: we didn't. In our latest "Startup Sluts" second podcast episode, we dive deep into our biggest financial fiasco and the lessons we learned the hard way.

Picture this: Two eager entrepreneurs (that's us) deciding to host a grand networking event for our potential users. Sounds great, right? Wrong. We hired an "organizational specialist," spent money on flowers, drinks, and snacks, and poured countless hours into planning. The result? A canceled event and a gaping hole in our bank account.

Why did this happen? Simple. We didn't have a proper financial plan.

In our podcast, we break down the essentials of creating a solid financial plan for a B2C subscription-based SaaS startup. We cover everything from calculating customer acquisition costs to setting subscription prices and determining profit margins.

Key takeaways from our financial planning journey:

  1. Always start with market research

  2. Calculate your customer acquisition costs meticulously

  3. Understand your customer lifetime value (CLV)

  4. Factor in all costs, including technical expenses and app store fees

  5. Set realistic subscription prices based on market trends and user feedback

Remember, a good financial plan does more than just track expenses. It forces you to set clear, measurable goals, helps you prioritize spending, and gives you a reality check when you're about to make a costly mistake

Want to hear the full story and get a step-by-step guide to creating a financial plan for your startup? Tune in to our latest "Startup Sluts" podcast episode. We promise it's more entertaining than your average finance lecture and might just save your startup from going up in flames.



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