YoungUpstarts
AUGUST 31, 2019
You should never leave the office at the end of any day or week without having all finances reconciled with the proper supporting documentation. Keep Cash Burn Low. Every startup, no matter how small or large, should have a clear understanding of its burn rate. The first step is to calculate your burn rate.
View from Seed
OCTOBER 24, 2019
Pre-seed investing should be super simple, so any signs of pro-rata rights, tranched financings, charging the company for value-added services, etc. As an inexperienced founder, you are very likely to take at least two rounds of financing before a series A, so the round to try to skip is any sort of second seed. should be avoided.
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David Teten
NOVEMBER 26, 2019
Instead of budget approvals, monitor key metrics and give managers more flexibility. Sean Colrock, Director of Client Partnerships at Wiss & Company , suggests at a minimum you track: cash on hand; fume date; and burn rate. Traditional budgets can be destructive and a huge waste of time. Best Practices in Spreadsheet Design.
VC Adventure
MARCH 17, 2022
With the markets down significantly, financings (at least at the later stages) slowing down, and inflation and interest rates on the rise, perhaps now is a good time to talk about your burn rate. Hopefully, you took advantage of the robust financing markets of the past few years to put some money on your balance sheet.
Feld Thoughts
NOVEMBER 18, 2013
Here’s the punchline: if you run your company as if you have closed a VC equity financing round even though you actually closed a convertible debt round, you’ll be in much better shape when it comes time to raise your Series A financing. Three months in, the burn is now at $70k/month. It’s too early for that s**t.
Both Sides of the Table
MAY 2, 2015
A great finance leader is on top of your numbers with such precision that you don’t have to worry about it. But a great finance leader isn’t just budgeting but he or she is an consummate planning and they won’t take s**t from you about why you need to avoid hiring more staff until you close new contracts or raise money.
Up and Running
SEPTEMBER 17, 2014
That’s why we asked nine members from Young Entrepreneur Council (YEC) what metrics all founders should be aware of — always. No Specific Metric. This includes a general understanding of the finances. All other metrics eventually lead back to this one. Here’s what they had to say: 1. Cash on Hand.
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