Use Scenarios to compare multiple possible futures for your business. For example, you might want to see how many hires you need to make in an optimistic scenario (often called "Target"), or how much money you will have in the bank in six months in a worst-case scenario.
A Scenario is a full copy of your entire financial model with inputs independent from one another. You can compare Scenario values using Tables and Charts on the Reporting page.
There are two ways to create a new Scenario:
- Copy Existing Scenario (Recommended)
- Create Scenario from Scratch
Copy Existing Scenario
To copy an existing Scenario, go to the Revenue Forecast page, and use the New button on the top navbar to create a new Scenario.
Give your new Scenario a name and description, and choose which of the existing scenarios to use as a starting point. Common Scenario names are:
Create Scenario from Scratch
Follow the same steps in the previous example, but instead of selecting Copy Existing Scenario, select None.
Note: this method is generally more time-consuming than using an Existing Scenario, as you'll need to build every single forecast from scratch.