Challenge. The client, a product management consultant at a niche business consultancy, needed a financial forecast model for her clients’ prospective new product launch. She wanted a two-year revenue and expense model that accurately reflected the product’s expected performance in the market and incorporated multiple customer and revenue streams and user-controllable variables. Furthermore, she was working under a tight deadline and needed the model quickly.
Approach. I obtained from the client a briefing on the product, the subject company’s business and market, the list of desired user-controllable variables, and an understanding of the channels through which the new product would be launched. I also performed independent research into the market and life cycles of similar products. Next, using MS Visio I developed and forwarded to the client a customer process diagram to confirm my understanding of how customers would find and purchase the product. I then built a prototype model on MS Excel, forwarded the prototype to my client for review, and, after incorporating her feedback, made modifications to and delivered the final model.
Results. The client received the product forecast model within schedule. She remarked about how well it had been designed and built and expressed appreciation for the great work.