# Finances

Our Bank Balance Now & Income + Spending Projections for 2015

As I promised in my previous blog post, I’m sharing our budget and financial projections for our startup Finic for this year.

As you saw in the screenshot from the previous post, on April 1, 2015 our bank balance was $1,003,866.


Our team and I sat down this week to finalize the following business plan for the rest of the year:

Click to see our balance, income and spending projections for 2015

This business plan will get us to the end of 2015, at which point we hope to be 100% sure about our business model and maybe even profitable.


As you saw in the Google Doc, we decided to split all our spendings into two categories:

  • burn rate (salaries we pay our employees, rent, insurance and other small expenses)
  • all other expenses


The income will come from two projects we are working on now: Finic and Hipture.

Here is how our income projection breaks down for Jan 1, 2015 to Dec 31, 2015:


Finic.com total income: $4,566,368

– Income from paid traffic: $480,225

– Income from social marketing: $38,747

– Income from referral marketing: $3,692,396

– Income from returning orders: $355,000


Hipture.com total income: $1,661,952

– Income from Hipture app orders: $1,161,952

– Income from Kickstarter: $500,000

Gross income: $6,228,321


Our burn rate for this year will be $2,088,052.

Other expenses for order fulfillment, equipment, referral fees, etc., will be $3,604,940.

Our EBITDA (Earning before tax income, depreciation, and amortization) is $535,328.


We currently have $1M in our bank account. We should finish this year with at least $1.5M in our bank account.

This is our plan, and we’re sticking to it! We are publishing these numbers publicly to share with our readers and simultaneously hold ourselves accountable.

Every week, we’ll refer to this blog post to see how we’re shaping up to our projection. I plan to write updates on the blog regarding how our projection is comparing to actual reality.


I’d love to hear any comments or feedback you have about our plan!