SumoSum launched this week as a financial forecasting software app to empower startups, entrepreneurs, nonprofits and students with a new paradigm in business concept development based on running the numbers first. Says founder and author Steve Sue, “Decks are pretty. B-plans informative. But numbers dictate outcomes like funding and profitability. And with numbers come footnotes to drive a business plan and infographics to power a pitch deck. So it makes complete sense to jump on your numbers first.” Sue’s sentiment rings true for Shark Tank fans who regularly witness entrepreneurs failing for lack of knowing their numbers. Notes Sue, “It’s business 101. If you don’t want a Mark Cuban giving you a financial tongue lashing, then prepare, perfect and know your numbers.”
Financial Forecasting for Startups & Entrepreneurs
To serve the startup community, Sue designed SumoSum for non-MBA and non-CPA users to generate full financials on their own. Sue notes, “Our mission is to make financial forecasting fast, easy & simple. Thus the design spec called for a forecasting system that even a middle school kid can do on a phone. The magic of SumoSum is poking in a few numbers to see your financial model come to life as visual graphs and charts.” This approach is made possible through a combination of a highly intuitive interface, pre-set default variables, just-in-time tooltips, modeling shortcuts, real-time report rendering, and downloadable graphics and reports. SumoSum is also a collaboration platform meaning an unlimited number of team members can work on projects together.
Affordable Financial Modeling
SumoSum is priced to be affordable for any startup, entrepreneur, nonprofit and student. Sue recommends, “if you can’t do the raise for a month on SumoSum, you better ditch the idea of becoming an entrepreneur and keep your day job.” Sue also notes that users can create the most complicated financial model in just hours, thus a frugal user can subscribe for a single month, download reports, then downgrade to a free dormant account to save fees. Inactive users can upgrade anytime to re-open editing features for past projects. Key targets include groups like classes, clubs, hackathons, business plan competitions and business associations.
Numbers First Means Nimble Pivots
The numbers-first approach offers both a checklist system and a nimble way to evolve concepts. Says Sue, “Entrepreneurship is largely an exercise in dialing in the formula of a business over time. You’re constantly learning, so a nimble and collaborative planning tool is ideal to evolve and pivot your concept.”
SumoSum is in beta release with upgrades in development including artificial Intelligence, machine learning and data science modules to enhance automation, deliver improved insight and facilitate business research. For a limited time, free 30-minute consulting sessions to build financial models with Sue can be applied for at: /free-session.