Step 4: Use Affordable Tools

You don’t need expensive finance software to gain control. Use simple, affordable tools — like spreadsheets or basic accounting apps — to build a clear and centralized view of your cash, burn, and revenue.

Why This Matters

Early-stage founders often delay financial systems until they “feel ready,” but by then, they’ve already lost visibility. Lightweight tools give you control now, without a big investment. The goal isn’t financial perfection — it’s financial visibility you’ll actually maintain.

Key Activities

Create a centralized sheet/tool (burn, runway, revenue, forecast)
Pick tools you or your team will actually use (Excel, Google Sheets, Notion, Airtable)
Use templates — don’t overdesign
If spending a little on a tool: set up QuickBooks, Xero, or Wave for clean bookkeeping
Update weekly/monthly and share with anyone helping on finances

Common Mistakes

Waiting for the “right time” to set up a system
Choosing complex tools you never learn or use
Relying on a single bank account view instead of structured tracking
Failing to update your sheet consistently
Skipping tool setup because “it’s just a spreadsheet”

Signals You're Doing It Right

You know where your cash is going by category
Your team or advisor can easily access and read your spreadsheet/tool
Monthly updates are routine, not reactive
You’ve avoided missed bills, tax surprises, or payroll crunches
You can confidently explain your financials in investor conversations

Red Flags

You don’t have any tool or dashboard—just your bank app
The spreadsheet hasn’t been updated in weeks
Nobody on the team knows where the financials live
You avoid looking at expenses because it feels overwhelming
You’re constantly surprised by recurring charges or vendor fees

Who Should Own This

Founder or Ops Lead, optionally assisted by bookkeeper or advisor