#384 – From Model to Budget

This week, we’ve been diving headfirst into the realm of budgeting as we collaborate with our fractional CFO, Michael, to solidify our financial roadmap for 2024.

Shifting Perspectives: From Model to Budget

Reflecting on our past practices, it’s clear that we’ve leaned heavily on our Financial Model for financial analysis and strategic planning. However, as our organization continues to evolve, so should our approach. Adding this next step, from model to budget, provides us with a more detailed framework to guide our day-to-day decisions.

Empowering Ownership and Understanding

While the Financial Model serves a valuable purpose, it’s essential to broaden our team’s understanding of our financial trajectory. By implementing a budget, we’re not only distributing ownership of financial performance but also equipping each team member with the knowledge and tools to contribute meaningfully to our financial goals.

Mapping Our Path: Next Steps

As we finalize the initial budget, our next course of action is to engage our circle leads for their insights.

Metrics

We observed a stable trend across most metrics; however, there was a slight decline in new invited users.

This week we…

…?? shipped 7.15.0 and 7.15.1

…published Parabol for the Public Sector webpage

Next week we’ll

…finalize plans for a virtual Product design retreat.

This week's Friday Ship was written by Parabol's Head of Operations, Kendra Dixon

For past editions of the Friday Ship, check out our blog.