Graphite

After thinking about Bench’s closure, here’s my tl;dr on it all. 1) Try and figure out a tax provider in the next 2 weeks as things start being due by end of Jan. 2) For bookkeeping, choose a provider that uses a non-proprietary software such as QBO so you can switch providers easily as your needs evolve. They can have a layer on top that gives you additional insight (like us), but data should live in a transferable app. 3) Graphite does both (and has a fantastic fully in house tax department), and is best if you’re a growing SaaS/CPG co and are looking for a hands on level of service. DM me or reach out on website. Here to help. Full post: Starting a company is hard. Scaling it to venture-exit levels is even harder. I wish the entire Bench team the best of luck. Please take a look at our job board and apply. Bench and Graphite took very different approaches to the same problem. I just want to help founders. Before starting Graphite, when I used to work at a venture fund, I saw firsthand house stressful of financial side of running a business was, especially when things start moving. As for impacted Bench customers… Whether you decide to use us or not, I highly recommend choosing a provider that uses an accounting system that’s easily transferable between service providers such as Quickbooks Online. This would still be a thing, but way less of a thing if Bench customers were on QBO. Most important short term decision is to find a tax provider.  You can get caught up on the day-to-day bookkeeping. You’ll lose a little insight that you’ve had before, but you can always catch up on that in the coming month or so. Taxes are due when they are due. 1099s are due in just over 30 days. Make sure you have a plan for that. Then comes Delaware franchise tax in February. And well, yes, you can file for an extension on your corporate tax returns, that doesn’t mean you get to delay payment. That’s due when due. Where we can help… If you’ve either raised VC funding, or are otherwise growing and needing a deeper level of support. Not just bookkeeping, but full hands on fractional support on fp&a, CFO, AP, payroll, and tax. We do anything an in-house team can do and more. DM me or reach out on the website. We’re here.

📌 BENCH USERS -> An easy solution for those effected. Graphite is offering a free and seamless migration from Bench to our service. Graphite is the leader in done-for-you bookkeeping, tax and CFO support for startups and growing business. We are very sorry you have to deal with this during the Holidays, and we are here to help make things as smooth as possible. Email us hello@graphitefinancial.com or learn more here: www.graphitefinancial.com

❗❗❗All startups & founders USING BENCH ACCOUNTING (who just gave notice of service closure) - Graphite is here to help and keep you covered. We are offering free migrations from Bench to our service. Graphite is the leader in done-for-you bookkeeping, tax and CFO support for startups and growing business. Email us hello@graphitefinancial.com or learn more here: www.graphitefinancial.com

Most startups make the same financial mistakes...and it costs them. These errors can hurt your credibility, waste time, and even lose investors. Let’s dive into the most destructive flaws I see and how you can avoid them. Flaw #1 - Overly Optimistic Projections: → Don’t make your financial model a wish list. → Many founders create forecasts that are overly ambitious to impress investors. But unrealistic goals damage credibility in the long run. 🔥 Tip: Build a realistic base case, not just the dream outcome. Flaw #2 - Ignoring Actual Performance: → A forecast only makes sense if it squares with actual performance → Too often, founders build a model and never revisit it. Without tracking actuals, you’re flying blind. 🔥 Tip: Review and update your model regularly with real-world data. Flaw #3 - It’s Harder To Hit A Moving Target: → Use the model actively and aggressively to analyze the business BUT please lock down a version at a moment in time and compare your actuals against it.  → It’s the only way to test your assumptions.  🔥 Tip: Always save a locked version to compare actuals against. Flaw #4 - Not Considering Different Scenarios: → Relying on a single projection doesn’t cut it. One forecast only guarantees you’ll be wrong without knowing how much or in what direction.  → Build a base case and two others with adjusted growth assumptions up an down. Start thinking in a range of outcomes. Both good and bad. 🔥 Tip: Create multiple scenarios: base, optimistic, and pessimistic. Flaw #5 - Focusing Only on Revenue, Not Costs → Many founders get too caught up in growth and forget about burn, leading to inflated expectations. 🔥 Tip: Prioritize tracking expenses at a detailed level to get a full financial picture. So, to wrap up here’s a checklist on how to avoid these financial model flaws: 1. Be realistic—build conservative forecasts. 2. Update models with actual numbers quarterly. 3. Lockdown versions for easy comparison. 4. Prepare multiple scenarios. 5. Don’t overlook expenses—track costs closely. Make better decisions, impress investors, and keep your startup on track.

👀🔥 Currently hiring a Sales Associate 🔥👀 You will be the first point of contact for prospective startups and founders, and you’ll play a key role in managing our sales process. Awesome opportunity for someone who is enthusiastic about startups, thrives in a fast-paced environment, and has a knack for building relationships.

The data doesn’t look great. Venture funding is flat. Deal volumes haven’t changed much. But here’s what I’m seeing: Yet… Founders I meet are more confident than ever. Why? #1 - Leaner Operations Founders have adapted. They’ve learned to do more with less, cutting unnecessary costs and focusing on what truly moves the needle. #2 - Clearer Strategies There’s no more relying on endless capital to "figure it out." Founders know exactly what they need to hit the next milestone, and they’re executing with precision. #3 - Renewed Optimism I’m hearing it in conversations with clients and peers. There’s a sense that the market is stabilizing, and the best companies will rise above. Confidence changes everything. It attracts investors, energizes teams, and lifts the entire ecosystem. The venture landscape may still be catching up on paper, but on the ground? It’s clear… founder confidence is back. 2025 is shaping up to be an exciting year.

👀🔥 I'm hunting for a stellar **Growth Marketer** (full-time hire, no contract inquiries please) - think all things lead gen, marketing, attribution modeling/reporting and more for a growing startup that supports other founders & startups. Awesome opp for someone who is excited about being a single-player contributor and transitioning into a leadership role as the business grows.

Let the 2025 planning begin! Will you generate more profit this year by managing working capital better? Every decision you make around cash management impacts profitability. That’s why I’m teaming up with Paul Bianco, CEO of Graphite Financial, for a webinar on Cash Flow Management Strategies for 2025. When: December 11th at 1 PM ET We’ll cover: ✅ How to save time and money with better cash management ✅ Practical strategies for turning idle cash into growth opportunities This session is all about giving consumer brand founders and financial teams actionable insights to scale profitably without wasting resources. Sign up link: https://lu.ma/zxw19w1y Let’s make 2025 the year a banner year for growth and profitability.  #Ecommerce #CashFlowManagement #Highbeam

👉 Tax Season is Coming! Are You Ready? 👈 Prep for 2025 tax season with this quick session. Tax planning can be overwhelming, especially for startups. The complexities of sales tax compliance and R&D tax credits can be daunting. But we’re here to simplify it for you. Join Michael Smith, CPA, Managing Director of Tax at Graphite, and Brian Greer, Partner at TaxConnex®, for an insightful webinar where we’ll cover: ✅ Navigating sales tax compliance ✅ Maximizing R&D tax credit benefits ✅ Integrating tax strategies into 2025 plans ⏰ 𝗧𝗶𝗺𝗲: 1:00 - 2:00 PM ET 🗓️ 𝗗𝗮𝘁𝗲: Tuesday, December 10 🎙️ 𝗣𝗮𝗻𝗲𝗹𝗶𝘀𝘁𝘀: Michael Smith, CPA & Brian Greer 🎤 𝗠𝗼𝗱𝗲𝗿𝗮𝘁𝗼𝗿: Chris Mossa, Chief Strategy Officer at Graphite 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗡𝗼𝘄 for expert insights and strategies tailored to founders and operators: https://lu.ma/8xk3594e Set your startup up for success—don’t miss it

𝗖𝗮𝘀𝗵 𝗙𝗹𝗼𝘄 𝗘𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹𝘀 𝗳𝗼𝗿 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 𝗶𝗻 𝟮𝟬𝟮𝟱💡 Managing cash flow is no longer optional—it's the make-or-break factor for startups. With funding more selective than ever, founders in the CPG and eCommerce space need strategies and tools to thrive in a competitive landscape. 𝗝𝗼𝗶𝗻 𝘂𝘀 𝗳𝗼𝗿 𝗼𝘂𝗿 𝗲𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝘄𝗲𝗯𝗶𝗻𝗮𝗿: 👉 Cash Flow Management for 2025: Essential Tools and Strategies for CPG and eCommerce Startups 👈 📅 Date: Wednesday, December 11 ⏰ Time: 1:00 - 2:00 PM ET 𝗪𝗵𝗮𝘁 𝘆𝗼𝘂’𝗹𝗹 𝗹𝗲𝗮𝗿𝗻: → Secure cash flow with banking & capital tools → Use real-time analysis for smarter decisions → Leverage tech & AI to streamline operations → Align strategies with long-term goals 𝗠𝗲𝗲𝘁 𝘁𝗵𝗲 𝗘𝘅𝗽𝗲𝗿𝘁𝘀: 🎙️ Paul Bianco, CEO at Graphite 🎙️ Samir Shergill, CEO at Highbeam 🎙️ Moderator: Benjamin Friedman, Head of Customer Success at Graphite 🔗 𝗥𝗲𝗴𝗶𝘀𝘁𝗲𝗿 𝗻𝗼𝘄 (https://lu.ma/zxw19w1y) to gain actionable insights that can set your startup on the path to financial stability and growth in 2025. Whether you’re refining your current strategy or starting fresh, this session will give you the tools and confidence to succeed. See you on the other side!