Your $80M Backlog Is Not $80M Revenue
Backlog is a claim on future execution. The four risks inside it, the three questions investors ask, and why a large backlog can be a liquidity problem, not a growth story.
The Diligence Library
Cash & Finance
Cash reporting, runway, backlog versus revenue, working capital. Investors do not read your P&L first. They ask where the cash is, where it goes, and who finances the gap between delivery and payment.
Cash Flow Reporting Should Start from Bank Reality
Early-stage companies do not need a finance system first. They need cash reporting built directly from bank exports: what it contains, how it was built for two real companies, and why it buys reaction time.