Welcome to the Spartina Internet Business Financial Model

Copyright 2009 Spartina Inc.

For complete information about this spreadsheet, please download our document, SIBFM
Instructions.doc. In this workbook, cells highlighted in yellow are places for you to enter data. There
are comments associated with some of the cells to guide your input. The recommended order for
completing the worksheet is as follows:
Step 1: Forecast your traffic on Traffic Forecast sheet (Row 4 all across.)
Step 2: Go to Revenue and fill out the numbers.
Step 3: Think about how many people you will need, forecast Headcount
Step 4: Go to the Budget sheet and estimate your other expenses
Step 5: Complete Cash Waterfall and update monthly
Step 6: Go to line 10 of Roll-up and add growth rates.

Send feedback via www.spartina.com - helping Internet entrepreneurs succeed

Your Company Name

Headcount - Confidential

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
$10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
$10,000 $10,000
$10,000

CEO
CFO
CTO & Lead Developer
Developer
Dir. Engineering
Front End Developer
Business Dev't & Sales
Client Support
VP Marketing
Dir Product Mgmt
Graphic design

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$5,000

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

$17,500

Totals
$120,000
$0
$60,000
$0
$0
$0
$0
$0
$0
$30,000
$0
$210,000

Bonus reserve
Total with bonus

5.00%

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$875
$18,375

$10,500
$220,500

Taxes & benefits

TOTAL

11.00%

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$2,021
$20,396

$24,255
$244,755

Headcount

Instructions
1) In column A list your employess by title or their name
2) Enter monthly gross (pre-tax) salary information in the gray cells
3) This information will automatically roll-up into the Budget tab
4) Proceed to the Budget tab

Your Company Name

FINANCIAL PROJECTIONS

REVENUE
STAFF EXPENSES
CONSULTANTS

January
Month 1
All Revenue (tab Rev)
$77

February
Month 2
$153

March
Month 3
$383

April
Month 4
$789

May
Month 5
$1,578

June
Month 6
$2,366

July
Month 7
$3,260

August
Month 8
$4,075

September October November December

Month 9 Month 10 Month 11 Month 12
$5,705
$8,463
$12,694
$16,925

YTD
TOTALS
$56,466

All Headcount (Heads)

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$20,396

$244,755

Finance
Legal
Technology
Content & Editorial
Website Design
Marketing (SEO, PR)
Other

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$250
$500
$500
$500
$500
$500
$500
$3,250

$3,000
$6,000
$6,000
$6,000
$6,000
$6,000
$6,000
$39,000

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$23,646

$283,755

TOTAL STAFF & CONSULTANTS

MARKETING

Marketing (Paid traffic)

$100

$100

$100

$200

$200

$300

$300

$500

$1,000

$1,000

$1,000

$1,000

$5,800

OPERATIONS

Hosting Provider
Phone
Rent
Office Internet
SaaS
Software/License Renewal
Equipment (Hardware)
Supplies, Office Furn.
Travel
Conference/Tradeshows
Dues/Subscriptions
Insurance
Petty Cash/Entertainment

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$100
$125
$500
$150
$150
$50
$250
$50
$500
$500
$50
$50
$150
$2,625

$1,200
$1,500
$6,000
$1,800
$1,800
$600
$3,000
$600
$6,000
$6,000
$600
$600
$1,800
$31,500

DC Equipment

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$26,271

$315,255

-$24
-$26,195

$53
-$26,118

$283
-$25,889

$589
-$25,483

$1,378
-$24,694

$2,066
-$23,905

$2,960
-$23,011

$3,575
-$22,196

$4,705
-$20,566

$7,463
-$17,809

$11,694
-$13,578

$15,925
-$9,346

$50,666
-$258,789

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$250,000

$0

$0

$0

$0

$0

$250,000

$73,805

$47,687

$21,798

-$3,684

-$28,378

$197,717

$174,706

$152,510

$131,943

$114,135

$100,557

$91,211

$91,211

CAPITAL EXPENSES
TOTAL EXPENSE
GROSS PROFIT (Sales - Marketing)
NET PROFIT
Interest Earned

0.00%

New Capital Interest

CASH ON HAND

$100,000

Your Company Name

Traffic Waterfall Forecasting Model Overview
Traffic
Plan
January

January
February
500
1,000
400
1,000
February
March

March
2,500
2,500
2,500

April
5,000
5,000
5,000
5,000

April

May
10,000
10,000
10,000
10,000
10,000

May
June

On this sheet, the vertical column is what you think

will happen in a month, and the last value in each
column is what actually happened. Month by month,
you enter the actually data and reforecast the
remaining months. As the numbers change here, they
will affect the Meta Revenue worksheet.

June
15,000
15,000
15,000
15,000
15,000
15,000

July
20,000
20,000
20,000
20,000
20,000
20,000
20,000

July
August

August
September
25,000
35,000
25,000
35,000
25,000
35,000
25,000
35,000
25,000
35,000
25,000
35,000
25,000
35,000
25,000
35,000
35,000
September
October

October
November December
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
50,000
75,000
100,000
75,000
100,000
November
100,000
December

Total
339,000
338,900
337,900
335,400
330,400
320,400
305,400
285,400
260,400
225,400
175,400
100,400
400

% of Plan
100.00%
99.97%
99.68%
98.94%
97.46%
94.51%
90.09%
84.19%
76.81%
66.49%
51.74%
29.62%
0.12%

Your Company Name

META Revenue
Traffic (Visitors)
Pageviews/Visitor
Pageviews (PV)

January
500
2
1,000

February
1,000
2
2,000

March
2,500
2
5,000

April
5,000
3
15,000

May
10,000
3
30,000

June
15,000
3
45,000

July
20,000
4
80,000

August
25,000
4
100,000

September
35,000
4
140,000

October
50,000
5
250,000

November December
Total
75,000
100,000
339,000
5
5
4 average
375,000
500,000 1,543,000

Clickthrough Rate/Visitor
Affiliate Network
AdSense
Subscription
E-commerce
Total CTR/Visitor

0.50%
0.50%
0.10%
0.10%
1.20%

0.50%
0.50%
0.10%
0.10%
1.20%

0.50%
0.50%
0.10%
0.10%
1.20%

0.75%
0.80%
0.10%
0.10%
1.75%

0.75%
0.80%
0.10%
0.10%
1.75%

0.75%
0.80%
0.10%
0.10%
1.75%

1.00%
1.00%
0.10%
0.10%
2.20%

1.00%
1.00%
0.10%
0.10%
2.20%

1.00%
1.00%
0.10%
0.10%
2.20%

1.25%
1.20%
0.10%
0.10%
2.65%

1.25%
1.20%
0.10%
0.10%
2.65%

1.25%
1.20%
0.10%
0.10%
2.65%

CPM (% Pages with Ads)

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

50.00%

Revenue Rates
Affiliate Network
AdSense
CPM
Subscription
E-commerce

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.10
$0.25
$1.00
$99.00
$49.00

$0.25
$1.25
$1.00
$49.50
$24.50

$0.50
$1.25
$3.75
$7.50
$11.25
$20.00
$25.00
$2.50
$6.25 $30.00 $60.00
$90.00
$200.00
$250.00
$2.00
$5.00 $15.00 $30.00
$45.00
$80.00
$100.00
$99.00 $247.50 $495.00 $990.00 $1,485.00 $1,980.00 $2,475.00
$49.00 $122.50 $245.00 $490.00
$735.00
$980.00 $1,225.00

$35.00
$62.50
$350.00
$750.00
$140.00
$250.00
$3,465.00 $4,950.00
$1,715.00 $2,450.00

$93.75
$1,125.00
$375.00
$7,425.00
$3,675.00

$125.00
$1,500.00
$500.00
$9,900.00
$4,900.00

Revenue
Affiliate Network (V)
AdSense (PV)
CPM (PV)
Subscription (V)
Ecommerce (V)
Total revenue

$77

$153

$383

$789

$1,578

$2,366

$3,260

$4,075

$5,705

$8,463

$12,694

$16,925

Revenue per visitor

$0.15

$0.15

$0.15

$0.16

$0.16

$0.16

$0.16

$0.16

$0.16

$0.17

$0.17

$0.17

Paid Traffic Budget

Cost per visitor (Paid Traffic)
Paid visitors
% paid
% free

$100
$0.30
333
67%
33%

$100
$0.30
333
33%
67%

$100
$0.30
333
13%
87%

$200
$0.30
667
13%
87%

$200
$0.30
667
7%
93%

$300
$0.30
1,000
7%
93%

$300
$0.30
1,000
5%
95%

$500
$0.30
1,667
7%
93%

$1,000
$0.30
3,333
10%
90%

$1,000
$0.30
3,333
7%
93%

$1,000
$0.30
3,333
4%
96%

$1,000
$0.30
3,333
3%
97%

Blended cost/visitor

$0.20

$0.10

$0.04

$0.04

$0.02

$0.02

$0.02

$0.02

$0.03

$0.02

$0.01

$0.01

-$24

$53

$283

$589

$1,378

$2,066

$2,960

$3,575

$4,705

$7,463

$11,694

-$0.05

$0.05

$0.11

$0.12

$0.14

$0.14

$0.15

$0.14

$0.13

$0.15

$0.16

$0.16

-31%

35%

74%

75%

87%

87%

91%

88%

82%

88%

92%

94%

NET
NET PER VISITOR
NET MARGIN

$56,466
$0.16 average

$0.04 average

$15,925 ########

Your Company Name

REVENUE
Average monthly visitors
Average revenue per visitor
Total revenue

Year 1
28,250
$0.16
$54,494

Year 2
150,000
$0.20
$360,000

Year 3
200,000
$0.25
$600,000

Heads
Headcount
Consultants

3.2
$244,755.00
$39,000.00

25.00%
4
$305,943.75
$48,750.00

Marketing

$5,800.00

$7,250.00

Operations
Capital Equipment Purchases
Total expenses

$31,500.00
$0
$321,055

$39,375.00
$0
$401,319

30.00%
5.2
$397,726.88
$63,375.00
$0.00
$9,425.00
$0.00
$51,187.50
$0
$521,714

NET
Margin

$(266,561)
-489%

$(41,319)
-11%

$78,286
13%

Blended cost per visitor

Net per visitor
Margin per visitor

$0.0171
$0.1436
89%

$0.0040
$0.1960
98%

$0.0039
$0.2461
98%

EXPENSES

A portion of this roll-up data goes into the executive summaries that you might use for investor presentations.

Year 4
250,000
$0.35
$1,050,000

Year 5
500,000
$0.40
$2,400,000

35.00%
7.02
$536,931.28
$85,556.25
$0.00
$12,723.75
$0.00
$69,103.13
$0
$704,314

40.00%
9.828
$751,703.79
$119,778.75
$0.00
$17,813.25
$0.00
$96,744.38
$0
$986,040

$345,686
33%

$1,413,960
59%

$0.0042
$0.3458
99%

$0.0030
$0.3970
99%

might use for investor presentations.

Your Company Name

Cash Waterfall Forecasting Model Overview

Plan
January

January
$25,000.00

February
$20,000.00
$20,000.00

February

March
$15,000.00
$15,000.00
$15,000.00

March

April
$10,000.00
$10,000.00
$10,000.00
$10,000.00

April
You start with your projections. Then each month, take the cash figure
from your accounting system, and enter the real cash that has gone out.
(This doesnt account for the accruals.)

The top line represents the plan or forecast for year, and it wont change.
By looking at this waterfall sheet, you can compare actuals to the plan.

May
$5,000.00
$5,000.00
$5,000.00
$5,000.00
$5,000.00

May
June

June
$250,000.00
$250,000.00
$250,000.00
$250,000.00
$250,000.00
$250,000.00

July
$225,000.00
$225,000.00
$225,000.00
$225,000.00
$225,000.00
$225,000.00
$225,000.00

July

August
$200,000.00
$200,000.00
$200,000.00
$200,000.00
$200,000.00
$200,000.00
$200,000.00
$200,000.00

August

September
$175,000.00
$175,000.00
$175,000.00
$175,000.00
$175,000.00
$175,000.00
$175,000.00
$175,000.00
$175,000.00

September

October
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00
$150,000.00

October

November
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00
$125,000.00

November
December

December
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00
$100,000.00

Total
$1,300,000
$1,275,000
$1,255,000
$1,240,000
$1,230,000
$1,225,000
$975,000
$750,000
$550,000
$375,000
$225,000
$100,000
$0

% of Plan
100.00%
98.08%
96.54%
95.38%
94.62%
94.23%
75.00%
57.69%
42.31%
28.85%
17.31%
7.69%
0.00%