At the initial stage of your launch, business owners probably focus on the ideation, market research, business plan, GTM, brand/marketing efforts, building a team etc. Funding in the form of seed funds from self/family, or where the business form is partnership, shared equity interests, would be sufficient to deliver the initial introduction phase.
Data is limited. Client or debtor invoices are probably coming in once clientele base is established. Vendor invoices probably make up most of your database. At this phase, most business owners probably outsourced the accounting functions, for book keeping purpose, and probably reviewing the financial statements at a less frequent interval, unless required for financing or investor relations.
When your client list starts growing, you start to launch into the growth stage. Probably your 2-3 years-old P&L starts to deliver positive profit margin, your may need to make more strategic decisions, whether in terms of managing your product line/market venture directives, or raising more capital to reinvest in your business.
It may be handy to now get a management/FP&A accountant to craft the growth story in your business plan, as as to build a forward-looking financial plan/model in the next financing round with your bankers or investors.
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