Model for Change provides pro bono consulting services to assist with the development and enhancement of three statement financial models, which include the historical and forecasted Balance Sheet, Income Statement, and Statement of Cash Flows. Combining years of diverse Financial Services experience, our volunteers are equipped to help businesses regardless of their sophistication with financial models.

How it works

First, the business will submit an application for services, needing to demonstrate minimum business capabilities and a positive externality. Once approved, it will be matched, based on relevant industry and financial expertise, with a volunteer who will be the point of contact throughout the program. The program will generally adhere to the following framework:

  • Preparation

    The advisor hosts an introductory call to get to know the business and schedule a proposal session.
    1 week
  • Proposal

    The advisor and the business meet to collaborate on a proposal for potential improvements. During this session, the advisor will propose enhancements and assign action items for the business to complete.
    2 hours
  • Execution

    The business works towards the plan agreed upon during the proposal session. The advisor is available to assist with action items as needed.
    1-3 weeks
  • Follow-up

    The advisor meets with the business one more time to review progress. The advisor answers any remaining questions and helps the business form a plan for working through open issues. At the end of this session, the business and the advisor summarize takeaways.
    1 hour

Case studies

A pre-revenue eyeglass retailer whose lenses reduce eye-strain from computers

> Issue: Did not have a grasp of its cash burn rate nor a strategy for inventory management and pricing

> Approach: Provided detailed view of cash flows and inventory by product as well as unit-level profitability

> Impact: Improved ability to forecast future cash needs, created a systemic purchasing strategy based on lead times  and forecasted volumes, and enhanced pricing and discounting decision-making

A solar energy solutions provider, selling software and program design for operators of shared renewable asset

> Issue: Required preparation for fundraising and increased flexibility to incorporate business model adjustments

> Approach: Created a monthly 3-yr projection with easy-to-use, product-level scenario analysis

> Impact: Enhanced discussions with potential investors; business recommended Model for Change to its peers

A lifestyle apparel company that uses environmentally and socially responsible processes and materials

> Issue: The business did not have a financial model nor a strong grasp on its medium-term business strategy

> ApproachDeveloped a robust 3-statement financial model, inventory schedules by product and in aggregate, and a 13-week cash flow forecast

> Impact: Provided the business a deeper understanding of basic financial and business strategy, particularly for liquidity and inventory management