Steve Blank

SEPTEMBER 5, 2018

He just hired Meg Whitman. With fewer than 10 employees but almost $2-billion dollars in the bank, they plan on jumping right in. Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. the ex-CEO of HP and eBay, as CEO of NewTV. And it may work. IPOs dried up.

Lean 335

Lean Burn Rate Startup IPO 335

Startup Professionals Musings

SEPTEMBER 14, 2016

Investors check your burn rate to assess your efficiency, and project your remaining runway before you run out of money and into a brick wall. It doesn’t take a financial genius to recognize that you need to keep your burn rate low. Cash flow out equates to burn rate, and the runway depends on your reserves.

Burn Rate 120

Burn Rate Hockey Stick Startup Salary 120

YoungUpstarts

JUNE 20, 2019

Series B: Hiring and Developing Managers. All startups find themselves struggle with hiring to meet growing demand, leaving most startups scrambling to onboard hires. When startups make new hires, it’s not uncommon to then promote the longest-tenured engineer, tasking them with onboarding staff.

Technical Cofounder 104

Technical Cofounder Burn Rate Seed Stage Cofounder 104

Steve Blank

MARCH 17, 2020

Large companies are sending employees to work at home. If you’re running a startup or small business, your first priority (after your family) is keeping your employees and customers safe. The questions every startup or small business CEO needs to ask now are: What’s my Burn Rate and Runway? Burn Rate and Runway.

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

Startup Professionals Musings

APRIL 10, 2016

From my perspective as an investor, I recommend that every founder needs to know the answers to these questions, be open and honest in answering them thoughtfully, and without making excuses: What is the current runway and burn rate? One more key employee or one more investor will probably not turn the situation around.

Burn Rate 120

Burn Rate Sweat Equity Technical Review Intellectual Property 120

Startup Professionals Musings

APRIL 8, 2015

From my perspective as an investor, I recommend that every founder needs to know the answers to these questions, be open and honest in answering them thoughtfully, and without making excuses: What is the current runway and burn rate? One more key employee or one more investor will probably not turn the situation around.

Technical Review 120

Technical Review Due Diligence Burn Rate Sweat Equity 120

YoungUpstarts

MAY 19, 2016

Use burn rate as an example. If you don’t understand how much money your company is burning through each month, how can you expect to intelligently talk about your fiscal health? To become part of the surviving half, use these methods to ensure your startup’s structure stands strong. Read your books from cover to cover.

Technical Review 109

Technical Review Burn Rate IP Intellectual Property 109

Both Sides of the Table

MAY 2, 2015

For a well-funded seed company I have controversially recommended hiring a great office manager that doubles as an administrative assistant. This happens because many CEOs are passionate, market-driven people who are constantly trying to launch new products, win contracts, get press, hire staff and woo VCs. HR & Legal.

Operations 150

Operations Metrics Early Stage Non-Compete 150

crowdSPRING Blog

OCTOBER 24, 2014

Benchmarking SaaS Startup Efficiency with Revenue per Employee Metrics | by @ttunguz – crowdspring.co/1sRVdjm. What is the Right Burn Rate at a Startup Company? | Hire the Right Type of VP Marketing ?Or How to Ruin Your Company with One Bad Process | by @bhorowitz – crowdspring.co/11FYS9R. 1vOh10w.

Social Media 95

Social Media Small Business Design Media 95

crowdSPRING Blog

OCTOBER 10, 2014

. “the people you fire are more important to your [company''s] culture than the people you hire.” Stock option questions startup employees should ask | Business Insider – crowdspring.co/1n8lUje. Refocusing the Startup Burn Rate Debate | OpenView Blog – crowdspring.co/1n8paLq.

Social Media 97

Social Media Small Business Design Media 97

crowdSPRING Blog

SEPTEMBER 19, 2014

3 Surprising Interview Questions You Should Ask Every Potential Employee – crowdspring.co/1s051td. Are startup burn rates out of control? This Invaluable Lesson Will Keep You From Making Catastrophic Hiring Mistakes - crowdspring.co/XeV4JS. Hiring startup engineers? WordStream – crowdspring.co/1tOs1vg.

Social Media 94

Social Media Small Business Design Media 94

ReadWriteStart

JULY 9, 2023

They impact fundraising, hiring, intellectual property rights and patents, and many more things around starting and running a business. You can hire a lawyer or consult with one from time to time, but knowing the legal side of venture investment and running a company is essential.

Intellectual Property 122

Intellectual Property Startup Burn Rate Metrics 122

Up and Running

JULY 27, 2020

Your forecast will also help you figure out when it might be the right time to expand, buy a new piece of equipment, or hire more employees. You’ll understand your cash burn rate and runway which is a critical prediction of how long your cash will last. How to create a dynamic, more accurate cash flow forecast.

Forecast 83

Forecast Management Cash Position Software Review 83

Up and Running

SEPTEMBER 9, 2020

If you’re thinking about expanding, purchasing additional equipment, or adding more employees, you need to know when it will be safe to do so from a cash perspective. When you have negative cash flow, you should also keep track of your burn rate and runway. Burn rate is the amount of cash that you are “burning” each month.

Burn Rate 83

Burn Rate Forecast Cash Position Employee 83

The Next Web

DECEMBER 2, 2013

Therefore, if you want to bring an MVP ( Minimum Viable Product ) to market, Werdelin approximates that you’ll need $50,000 to $250,000 , depending on the skill sets of the developers and designers you hire. Of course, if you’re hiring an agency, you’re probably looking at 1.5 4) WhatsApp. 7) Shopify. million plus overhead.

Cost 168

Cost San Francisco New York City Ruby 168

Both Sides of the Table

JULY 13, 2013

And for every time I’ve felt hugely stressed that our burn rate was getting too high, and I didn’t know who else was going to fund the company, and I’m all in on this company, right?” Because I’m going to say no to you, and the guys you want to hire from Facebook are going to say no to you.

Cofounder 337

Cofounder Technical Cofounder San Diego Startup 337

Startup Professionals Musings

NOVEMBER 2, 2012

If you really want to impress a startup founder as a potential employee, or you want to be a smart investor, you need to know the right questions to ask. My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today?

Due Diligence 244

Due Diligence Sweat Equity Burn Rate Intellectual Property 244

Startup Professionals Musings

DECEMBER 16, 2013

If you really want to impress a startup founder as a potential employee, or you want to be a smart investor, you need to know the right questions to ask. My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today?

Due Diligence 253

Due Diligence Sweat Equity Intellectual Property Burn Rate 253

Hunter Walker

FEBRUARY 20, 2022

Maybe you’ve spoken with the previous companies customers or investors or employees and learned from that — maybe you’re even now taking their customers, hiring their best team members, whatever. Take it head on at the 50,000 foot level and drop one or two insight gems regarding why your company is better positioned. Just Survive.

Marketing 119

Marketing Burn Rate Angel Investor Early Stage 119

Both Sides of the Table

MARCH 9, 2013

Should you increase your burn rate by adding 2 senior hires who will help you ship faster or sell more but then have less time for fund raising? This is especially true in startups where speed matters and where there is a need to constantly calibrate direction and where these decisions can have existential outcomes.

Cofounder 413

Cofounder Burn Rate Dilution Valuation 413

Both Sides of the Table

JUNE 17, 2017

If you hire 6 senior sales reps in January at $120,000 / year salary then you’ve taken on an extra $60,000 per month in costs yet these sales people might not close new business 6 months. If you don’t have a strong balance sheet and can’t hire more people that’s fine — but understand this may lead to slower growth.

Stock Options 227

Stock Options Startup Dilution Venture Capital 227

Startup Lessons Learned

MAY 15, 2020

Mark has been at the forefront of providing job stability and funding for his own employees and the networks that support them during the pandemic. It's never selfish to hire. It's never selfish to try to do the right thing for your employees, your customers, and your stakeholders." during S&L crisis. (36:43)

Dallas 68

Dallas Employee Government Social Media 68

Startup Professionals Musings

JANUARY 7, 2014

Be quick to hire and slow to fire. Hiring after one interview is like hopping a red-eye to Vegas to get married after one date. On the other end of the process, don’t hesitate to pull the trigger fast when a new hire isn’t working, but don’t forget to be human and follow all the steps. Do not delegate this task.

Startup 265

Startup Intellectual Property LLC Burn Rate 265

Gust

DECEMBER 8, 2013

If you really want to impress a startup founder as a potential employee, or you want to be a smart investor, you need to know the right questions to ask. My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today?

Due Diligence 174

Due Diligence Sweat Equity Intellectual Property Burn Rate 174

Startup Professionals Musings

SEPTEMBER 5, 2011

If you really want to impress a startup founder as a potential employee, or you want to be a smart investor, you need to know the right questions to ask. My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today?

Due Diligence 237

Due Diligence Sweat Equity Intellectual Property Entrepreneur 237

Transformify

AUGUST 27, 2017

All of the above is true, but it is also true that many startups have failed because they hired too early, too fast, or fired too late. Many of the points below can be found among the best hiring practices for startups and there is nothing wrong with them in general. Then the hiring begins. Hire full-time employees.

Hiring 64

Hiring Software Review Burn Rate Startup 64

Startup Professionals Musings

NOVEMBER 28, 2012

Quick to hire and slow to fire. Hiring after one interview is like hopping a red-eye to Vegas to get married after one date. On the other end of the process, don’t hesitate to pull the trigger fast when a new hire isn’t working, but don’t forget to be human and follow all the steps. We all have our favorite story on this one.

Entrepreneur 274

Entrepreneur Intellectual Property LLC Burn Rate 274

Startup Professionals Musings

AUGUST 20, 2010

If you really want to impress a startup founder as a potential employee, or you want to be a smart investor, you need to know the right questions to ask. My advice to founders out there is to not volunteer too much, but be open and honest in the face of direct questions like the following: What is your burn rate and runway today?

Due Diligence 229

Due Diligence Sweat Equity Intellectual Property Startup 229

Startup Professionals Musings

MARCH 28, 2016

While the CFO usually takes the lead in finding professional investors, everyone needs to look for ways to reduce the burn rate and maximize alternative funding sources, including bartering for services, finding partners willing to accept deferred payments and talking to friends and family. Finding creative ways to fund activities.

Entrepreneur 120

Entrepreneur Burn Rate Leadership Salary 120

Both Sides of the Table

MAY 9, 2011

Hire your co-founder. Involve them in fund raising, hiring, strategy, etc. Involve them in fund raising, hiring, strategy, etc. like how much burn rate), whether to sell the company, etc. Startups have high failure rates. Most senior employees who join are given 2% if they join early. Who gets 30%?

Cofounder 393

Cofounder Founder Vesting Founder Vesting 393

YoungUpstarts

MAY 20, 2015

Burn rate: Seeing company grow fast is both exciting and overwhelming experience. Even though the growth is rapidly increasing, the burn rate can equally increase too so its essential to plan advance and evaluate the options based on that. Hire Talent. “I would say that hiring talent is were the story begins.

Colombia 100

Colombia Burn Rate Startup Agile 100

Gust

DECEMBER 29, 2013

Be quick to hire and slow to fire. Hiring after one interview is like hopping a red-eye to Vegas to get married after one date. On the other end of the process, don’t hesitate to pull the trigger fast when a new hire isn’t working, but don’t forget to be human and follow all the steps. Do not delegate this task.

Startup 183

Startup Intellectual Property LLC Burn Rate 183

Up and Running

MARCH 26, 2020

With your forecast in hand, you can anticipate how far things will fall, and identify the best ways to react: Figure out your burn rate and runway : How quickly are you using up your cash reserves and how long do you have before you run out of cash? You have options: Freeze hiring. Cut all salaries by 20%.

Management 152

Management Forecast SBA Burn Rate 152

The Next Web

JUNE 15, 2015

Airbnb’s experience shows how local engagement strategies such as these do not have to increase a startup’s burn rate considerably. One of the most important parts of taking on an expansion process is hiring the right local talent, a time consuming and challenging factor. Talent-Driven Expansion.

Global 60

Global Burn Rate Startup CPA 60

The Equity Kicker

JULY 16, 2015

Companies with lots of cash sometimes add people more quickly, but that drives the burn rate up, often without a compensating increase in the chance of success. A lot of the operational activities will fall to the founder, but it’s common to have 1-2 interns or early hires at this time.

eCommerce 60

eCommerce Burn Rate Early Stage Hiring 60

Hippoland

DECEMBER 18, 2016

If your equity stake is much more akin to an early employee’s stock plan, then your salary should be what an early employee at a startup earns rather than a founder’s salary. 4) Burn rate is a signal to investors Your overall burn rate is a signal to investors. Ramen, baby, ramen.

Las Vegas 48

Las Vegas Salary Burn Rate San Francisco 48

Hearpreneur

JULY 7, 2019

I see companies transitioning to hiring more freelancers and remote workers. What this means is that those who previously were W2 employees will now be 1099 contract workers. When they outsource they are hiring professionals for a certain number of hours per month and not 40 hours per week in addition to benefits, workers comp, etc.

Entrepreneur 90

Entrepreneur Distribution Employee Arizona 90