This is our latest and greatest idea!
Co-Founder of ProjectionHub, Brandon Hoeksema, is an artificial intelligence/big data guy, and we came across the thought the other day that we could probably predict your chances of success in raising capital with a high degree of certainty based on your financial projections.
Let me explain. We currently have over 6,500 users who have created financial projections using ProjectionHub, and we are growing fast. These users have projected that they will raise capital through loans or investments in the future, so here is what we plan to do.
Let’s say you project that you will raise $100k in investment in month 6. So 7 months after you create projections on ProjectionHub we are going to email you and ask 2 questions:
1. Did you successfully raise the $100k that you projected you would last month?
2. If not, did you raise any at all and how much?
These 2 questions will allow us to determine what characteristics in a set of financial projections make you most likely to successfully raise capital. Ultimately we think we can predict your chances of success in raising capital and tell you why you are unlikely to raise capital and how to improve your chances.
What do you think? Sound like a doable project? Sound like a powerful tool for entrepreneurs? We think so! This is definitely on our development list for the summer.
Let us know what you think on Twitter.