As a business owner, it's important to have a clear understanding of your financials and be able to plan for different scenarios. With our platform, you have the ability to create alternate financial scenarios for any of your unlocked business plans. This allows you to see how different factors can impact your business and make informed decisions.
Getting Started
To create alternate financial scenarios, you will first need to select the name of the plan you want to work on from your company drop down list. This can be found on the left hand side of your dashboard.
Once you have selected the plan, click on the "Financials" tab and then select "Overview" from the left hand side menu.
On the Overview page, at the far end of the right hand side, you will see a box with three vertical dots.
This is where you can create and manage your alternate financial scenarios.
Creating a New Scenario
If you want to keep a copy of your initial scenario intact, you can select to create a new scenario and that will create a separate, independent set of financial reports for you. You can choose how you want to create this new scenario by selecting one of these three options:
From Scratch: A new scenario with no prefilled data, useful for completely different assumptions.
Duplicate: An exact copy of a scenario, useful for creating a baseline for comparison.
Customize: A copy of an existing scenario with editable inputs, useful for testing variations.
Once you have made your selection you will need to name your new scenario, select the starting month and date and select your desired forecast duration, (between 2 and 6 years) then click on the "Create" button. This will create a separate version of your financial data and allow you to make changes without affecting the original plan.
Navigating Between Scenarios
Once you have created more than one scenario, you will be able to switch between them simply by click on the scenario name, located under the business plan name that you are working on, in the main menu. This will load the selected scenario and allow you to make changes. This selection will also determine which scenario is displayed in the export file.
Managing An Existing Scenario
If you want to change the time frame that is covered by an existing scenario, you will first need to select that particular scenario from the menu. Then you will click on the three vertical dots and select Manage Scenario.
Here, you will be able to change the starting date, the number of years to be included in the forecast, as well as determining the Value Movement.
The Value Movement allows you to decide how the values will be adjusted.
Move Timeline, Keep Order: Updating the start date keeps your forecast's structure intact - Month 1 stays month 1, month 2 stays month 2. The timing simply shifts, making it ideal for startups still refining their launch date.
Move Period, Keep Dates: Each value stays locked to its original month while the forecast period moves around it. March figures stay in March, September in September - perfect for active businesses rolling their forecast into a new year.
How to Delete or Rename a Scenario
To delete a scenario, first navigate to the scenario by opening up the business plan menu and locating your scenario. Next, click on the "Delete" button, shaped like a garbage can, next to the scenario name. Please note that this action cannot be undone.
To change a scenario name, start by navigating to that specific scenario in the business plan name drop down list, then click on the "Edit" button, shaped like a pencil, next to the scenario name, then write in the new name.
Conclusion
Creating alternate financial scenarios is a powerful tool that can help you make informed decisions for your business. By following these steps, you can easily create and manage alternate scenarios for any of your unlocked business plans. If you have any further questions, please don't hesitate to reach out to our support team for assistance.