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The number two reason startups fail is that they run out of cash. - CB Insights
Cash is always the most limited resource for a startup. While frugality & bootstrapping can extend your runway, many pre-seed startups have poor tracking of their cash flow. An equally opposite problem is raising too much money & misallocating the cash or spending it too quickly. Whether you're a bootstrapped startup or you've secured funding, paying very close attention to your business's cash as it ebbs & flows is vital for both long & short-term success.
Michael Tannenbaum, CFO of Brex - the credit card for startups, shares how pre-seed startups can avoid the pitfalls of money mismanagement, & running out of cash. He'll cover how to develop good financial infrastructure, benchmark spending, calibrate marketing return on investment & broadly how founders can become CFO-ready when it's time to forecast or meet with investors.
Using his own experiences at a two-year old startup, Michael will share the key elements to their financial mapping during the early days & how all of this played out when they got their influx of cash from their first, & subsequent investors.
What you'll learn:
Cash flow basics: positive, negative
Do you really need to raise money - or just increase sales?
How to monitor your (and your co-founders) spend
Setting a reasonable valuation & the financial data investors want to see
When to hire a CFO or seek outside help
Free & low-cost tools & resources for managing your current cash flow the influx of seed funds when you get it
Networking & drinks to follow.
Schedule
6:00PM
Doors Open + Happy Hour
7:00PM-8:00PM
Understanding & Managing Your Startup's Cash Flow
8:00PM-9:00PM
Networking + Drinks
Speakers
Michael Tannenbaum
CFO, Brex
Michael Tannenbaum is the Chief Financial Officer at Brex. Tannenbaum was Brex's first employee & oversees Finance, Credit, Marketing, Business Development, & Capital Markets. Before Brex he was the Chief Revenue Officer at SoFi & was named among Forbes 30 Under 30 Finance in 2016.
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