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A presentation on common startup mistakes that I gave at Sproutup in Toronto

A presentation on common startup mistakes that I gave at Sproutup in Toronto

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Sproutup presentation220910 final Presentation Transcript

  • 1. Sprout Up TO Sept. 22, 2010 Common Startup Mistakes A finance guy’s perspective © StartupCFO Enterprises Inc.
  • 2. Introduction mark macleod CFO Advisor Investor © StartupCFO Enterprises Inc.
  • 3. Common Finance Mistakes and how to avoid them… Making Money Spending Money Financing Everything else © StartupCFO Enterprises Inc.
  • 4. Making Money © StartupCFO Enterprises Inc.
  • 5. Making Money: Services Unclear offering / positioning © StartupCFO Enterprises Inc.
  • 6. Making Money: Services © StartupCFO Enterprises Inc.
  • 7. Making Money: Services Poor acquisition & mining © StartupCFO Enterprises Inc.
  • 8. Making Money: Services Leaving money on the table © StartupCFO Enterprises Inc.
  • 9. Making Money: Services Not asking for the order © StartupCFO Enterprises Inc.
  • 10. Making Money: Products & Tech © StartupCFO Enterprises Inc.
  • 11. Making Money: Products & Tech Waiting too long to charge © StartupCFO Enterprises Inc.
  • 12. Making Money: Products & Tech Complexity & user friction © StartupCFO Enterprises Inc.
  • 13. Making Money: Products & Tech Forgetting this… © StartupCFO Enterprises Inc.
  • 14. Making Money: Products & Tech No options © StartupCFO Enterprises Inc.
  • 15. Making Money: Products & Tech Not loving users enough © StartupCFO Enterprises Inc.
  • 16. Spending Money © StartupCFO Enterprises Inc.
  • 17. Spending Money: Services Not obeying the R/S ratio: © StartupCFO Enterprises Inc.
  • 18. Spending Money: Services Poor project management © StartupCFO Enterprises Inc.
  • 19. Spending Money: Services Not enough variable costs © StartupCFO Enterprises Inc.
  • 20. Spending Money: Products & Tech Hiring too much too soon © StartupCFO Enterprises Inc.
  • 21. Spending Money: Products & Tech Staff vs. subcontractors Staff: Core areas - product, development, support, acquisition, key management Subcontractors: Everything else * Key: SR&ED eligibility * © StartupCFO Enterprises Inc.
  • 22. Spending Money: Products & Tech Lack of focus © StartupCFO Enterprises Inc.
  • 23. Financing Your Business © StartupCFO Enterprises Inc.
  • 24. Financing Customers: giving away too much credit © StartupCFO Enterprises Inc.
  • 25. Financing Customers: not knowing how to get paid © StartupCFO Enterprises Inc.
  • 26. Financing Government: using it as a bank © StartupCFO Enterprises Inc.
  • 27. Financing Investors: not understanding the game © StartupCFO Enterprises Inc.
  • 28. Financing Investors: not finding money that fits your needs © StartupCFO Enterprises Inc.
  • 29. Financing Not negotiating *everything* © StartupCFO Enterprises Inc.
  • 30. Everything Else… © StartupCFO Enterprises Inc.
  • 31. Everything else… Co-founders: vesting & marriage © StartupCFO Enterprises Inc.
  • 32. Everything else… Not defining culture & values © StartupCFO Enterprises Inc.
  • 33. Everything else… Forgetting the vision © StartupCFO Enterprises Inc.
  • 34. Thank you mark macleod @startupcfo blog: startupcfo.ca web: realventures.com © StartupCFO Enterprises Inc.