Sproutup presentation220910 final
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Transcript of Sproutup presentation220910 final
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© StartupCFO Enterprises Inc.
Sprout Up TO Sept. 22, 2010
Common Startup Mistakes A finance guy’s perspective
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© StartupCFO Enterprises Inc.
Introduction
mark macleod CFO
Advisor Investor
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© StartupCFO Enterprises Inc.
Common Finance Mistakes
Making Money Spending Money Financing Everything else
and how to avoid them…
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© StartupCFO Enterprises Inc.
Making Money
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© StartupCFO Enterprises Inc.
Making Money: Services Unclear offering / positioning
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© StartupCFO Enterprises Inc.
Making Money: Services
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Making Money: Services Poor acquisition & mining
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Making Money: Services Leaving money on the table
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Making Money: Services Not asking for the order
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© StartupCFO Enterprises Inc.
Making Money: Products & Tech
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Making Money: Products & Tech Waiting too long to charge
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© StartupCFO Enterprises Inc.
Complexity & user friction Making Money: Products & Tech
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© StartupCFO Enterprises Inc.
Forgetting this… Making Money: Products & Tech
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Making Money: Products & Tech No options
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Making Money: Products & Tech Not loving users enough
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© StartupCFO Enterprises Inc.
Spending Money
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© StartupCFO Enterprises Inc.
Spending Money: Services Not obeying the R/S ratio:
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© StartupCFO Enterprises Inc.
Spending Money: Services Poor project management
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Spending Money: Services Not enough variable costs
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Spending Money: Products & Tech Hiring too much too soon
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© StartupCFO Enterprises Inc.
Staff: Core areas - product, development, support, acquisition, key management
Subcontractors: Everything else
* Key: SR&ED eligibility *
Spending Money: Products & Tech Staff vs. subcontractors
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Spending Money: Products & Tech Lack of focus
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© StartupCFO Enterprises Inc.
Financing Your Business
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© StartupCFO Enterprises Inc.
Financing Customers: giving away too much credit
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Financing Customers: not knowing how to get paid
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© StartupCFO Enterprises Inc.
Financing Government: using it as a bank
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Financing Investors: not understanding the game
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Financing Investors: not finding money that fits your needs
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© StartupCFO Enterprises Inc.
Financing Not negotiating *everything*
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© StartupCFO Enterprises Inc.
Everything Else…
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© StartupCFO Enterprises Inc.
Everything else… Co-founders: vesting & marriage
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© StartupCFO Enterprises Inc.
Everything else… Not defining culture & values
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© StartupCFO Enterprises Inc.
Everything else… Forgetting the vision
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© StartupCFO Enterprises Inc.
Thank you
mark macleod
@startupcfo
blog: startupcfo.ca web: realventures.com