Hack finance for your startup - Lili Balfour Igniters Meetup 8th August 2014 @vorkspace

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Learn how to raise capital for your startup with Lili Balfour! …

Learn how to raise capital for your startup with Lili Balfour!

Lili Balfour is the founder and CEO of the SoMa-based financial advisory firm, Atelier Advisors, creator of Lean Finance for Startups, Finance Boot Camp for Entrepreneurs, and How to Crowd Fund a Million Dollars, author of Master the Finance Game, and host of the Finance for Entrepreneurs broadcast on Spreecast.

After spending fifteen years in investment management and investment banking, she decided to develop a firm to cater to the specific needs of early-stage companies. At Atelier Advisors, Lili advises leading brands across industries: from tech to consumer goods. In the past, she has advised over 100 brands, including:
Bag, Borrow, or Steal, Visual IQ, Alpha Theory, Derivix, Practice Fusion, Peeled Snacks, Sustainable Minds, Firescope, Chix 6, Duchess Marden, Erin Fetherston, Eckart Tolle, and Stuart Skorman (founder of Reel.com, Elephant Pharmacy, Hungry Minds, and Clerk Dogs (sold to Netflix)). While advising companies at Atelier Advisors, she observed a common theme - -brilliant founders avoided finance. She began writing about entrepreneurial finance to solve this problem.

As a native of Silicon Valley and a first generation Mexican American, Lili understands the importance of imparting wisdom learned in Silicon Valley to the rest of the world. Her goal is to teach the entire planet about entrepreneurial finance.

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  • 1. http://meetup.com/igniter Igniters Meetup Hack Finance for Your Startup Speaker: Lili Balfour Sponsored by: Hosted by: http://www.vorkspace.com - Workspace of the Future
  • 2. Hack Finance for Your Startup Hacker Dojo Mountain View August 20, 2014
  • 3. What + Why Build a profitable company and raise the right type of capital by focusing on the right financial information.
  • 4. Financial Statements The Salient Six: ① Revenue ② Cost of Revenue/Goods (COGS) ③ Research and Development (R&D) ④ Sales, General, and Administrative (SG&A) ⑤ Operating Income (Loss) ⑥ Cash
  • 5. Income Statement  Monitor five components for financial performance.  We must understand metrics that drive performance.
  • 6. Balance Sheet - Cash  With $500,000, you will run out of capital in month seven.  You should secure capital by month six.
  • 7. Standard Metrics Standard Metrics ARPU Average Revenue Per User (Customer) CAC Customer Acquisition Cost DAU Daily Active Users MAU Monthly Active Users Churn Rate The % of users/customers lost Viral Coefficient Effectiveness of digital promos
  • 8. Determine Source of Capital Look at amount needed and fit. $10k to $3 million $3 million to $50 million  friends + family  angel investors  crowd funding  venture capital  hedge funds  private equity
  • 9. Finding Investors Find the right type of investor. Create a list for outreach.  Identify 100 to 200 leads to execute your funding strategy.
  • 10. Source Angel Investors How to Find Angel Investors Who Will Help You Win Use free resources to develop a list of relevant angel investors.
  • 11. Source VCs How to Locate Venture Capital Funds That Want to Fund Your Company Use free resources to develop a list of venture capital funds that have capital and are ready to invest in your company.
  • 12. Funding Materials Develop Your Story. Standard materials used:  Refine elevator pitch, executive summary, pitch deck, and business model.
  • 13. 10 Basic Slides Pitching to Investors ① Problem/Opportunity ② Solution ③ Market Size ④ Team ⑤ Sales, Marketing + Distribution ⑥ Customers/Traction ⑦ Competitive Landscape ⑧ Press/Testimonials ⑨ Financials ⑩ Capital Needs
  • 14. Introduce Yourself Develop Outreach Plan Angel investors  master the art of cold calling.  expand networking circles.
  • 15. Get Social Get comfortable reaching out to people you don’t know. Move beyond social media and go where your target investors congregate. Treat investors as you would potential customers.
  • 16. Laws of Nature You need to fail to succeed. Plan to fail 70% of the time. The more people you reach, the higher your chances for success.
  • 17. VC Dance Associates vs. Partners Turn Maybe into Yes Funding Process
  • 18. Stay in Touch! Spreecast www.spreecast.com/users/lilibalfour YouTube www.youtube.com/user/lilibalfour Udemy www.udemy.com/u/lilibalfour PopExpert www.popexpert.com/lilibalfour Use HACKERDOJO to receive 60% to 100% off Udemy.
  • 19. http://meetup.com/igniter Igniters Meetup Hack Finance for Your Startup Speaker: Lili Balfour Sponsored by: Hosted by: http://www.vorkspace.com - Workspace of the Future