Dealing with limited data

If you’re trying to build a financial forecast for your startup,

You might be struggling to create the projection with limited data.

If this sounds familiar, try this approach:

• Start by writing down the specific question you want your forecast to answer. Clearly defining your goals can often reveal new ways to approach the problem.

• Identify the data source you think is essential for your forecast. Now, ask yourself: What if you had to estimate this number? Could an estimate work? Or does this method of estimation suggest other ways you could obtain the data?

• Set aside your initial goal for a moment and focus on the data you do have. List the most trustworthy and accessible sources at your disposal. Is there a way to use this existing data to support your forecasting goals?

Navigating incomplete data can be frustrating for founders.

It's particularly tough for those who come from data-rich large company environments.

But, if you ever need help with it,

You know who to call :)

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