Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Startup founders need some financial skills.
Here’s a list of skills to bring to your startup:
- For business modeling - ability to calculate the unit economics of your business model including cost of customer acquisition and lifetime value of customer.
- For fundraising - ability to calculate pre and post-money valuations and the impact of dilution on the investors.
- For forecasting - ability to generate a three-year financial forecast showing the fixed and variable costs and the impact at various revenue levels.
- For budgeting - ability to set up a monthly budget matching the forecast with indicators of over and under.
- For performance monitoring - ability to capture key performance metrics.
- For cash-flow management - ability to capture all cash inflows and outflows to determine the runway and monthly cash burn.
- For financial controls - ability to set up credit limits and other stopgaps on spending.
- For profitability - ability to calculate gross margin and profit margins and set plans to improve over time.
- For financial literacy - ability to read an income statement, balance sheet, and capitalization table.
For startup founders, these are the basic skills you’ll need to master to run your business in the early days.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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