Managing your finance - Rahul Verghese

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Managing your finance - Rahul Verghese

  1. 1. Managing Finances for an early stage start up learnings from our experience <ul><li>Rahul S Verghese </li></ul><ul><li>Founder- Running And Living Infotainment Pvt Ltd </li></ul>www. running and living .com Unleash Your Potential
  2. 2. Managing Finances <ul><li>Planning </li></ul><ul><li>Conserving Cash </li></ul><ul><li>Managing Cash Flow </li></ul>www. running and living .com Unleash Your Potential
  3. 3. Plan for SAVING Cash Flow <ul><li>Planning - Pre Start Up </li></ul>www. running and living .com Unleash Your Potential hare and Leverage – partner djust and be flexible in your schedules - travel ariablize - people ncome streams in the near term ecessary and Reasonable enerate mileage - free Cash Flow Management
  4. 4. www. running and living .com Unleash Your Potential Time is money - and your time starts NOW!
  5. 5. Planning Pre Start Up <ul><li>Weekends and Late Nights </li></ul><ul><ul><li>Meet others in the biz </li></ul></ul><ul><ul><li>Research operations well </li></ul></ul><ul><ul><li>Do a simple cash flow for 3 years – fixed and variables </li></ul></ul><ul><ul><li>Investment requirements for 3 years </li></ul></ul><ul><ul><li>Experiment, Pilot </li></ul></ul><ul><ul><li>Do a personal SWOT </li></ul></ul><ul><li>Build savings </li></ul><ul><ul><li>Part time income? Consulting? </li></ul></ul><ul><ul><li>Talk to friends and family </li></ul></ul><ul><li>Biz Plan </li></ul><ul><ul><li>Review with friends in business </li></ul></ul><ul><ul><li>Double the break even period </li></ul></ul>www. running and living .com Unleash Your Potential
  6. 6. Share and Leverage Operational Burn <ul><li>Partners to share operational load in kind </li></ul><ul><li>Small sponsorships </li></ul>www. running and living .com Unleash Your Potential
  7. 7. Adjust Travel <ul><li>Optimise # of appointments when travel does crop up </li></ul><ul><li>Planning </li></ul><ul><ul><li>Short notice changes </li></ul></ul><ul><li>Add work onto personal time off locations if necessary </li></ul><ul><ul><li>Mix biz and pleasure </li></ul></ul><ul><li>Car better than train/bus for short distance </li></ul><ul><ul><li>Especially for 2+ people </li></ul></ul><ul><ul><li>Reduce conveyance charges at other end </li></ul></ul>www. running and living .com Unleash Your Potential
  8. 8. Variablize People <ul><li>Share the passion </li></ul><ul><ul><li>Volunteers </li></ul></ul><ul><ul><li>Part Time </li></ul></ul><ul><ul><li>Different locations </li></ul></ul><ul><ul><li>Loose structure </li></ul></ul><ul><ul><li>Google groups </li></ul></ul><ul><ul><ul><li>Future volunteers and leaders </li></ul></ul></ul>www. running and living .com Unleash Your Potential
  9. 9. Income stream – near term Reduce the Pain <ul><li>Related but side income streams </li></ul><ul><ul><li>Running gear </li></ul></ul><ul><ul><li>Workshops </li></ul></ul><ul><ul><li>Content </li></ul></ul>www. running and living .com Unleash Your Potential
  10. 10. Necessary and Reasonable Office and Administration <ul><li>Home Office </li></ul><ul><ul><li>Minimal infrastructure </li></ul></ul><ul><ul><li>Broadband/ skype </li></ul></ul><ul><ul><li>Meetings at coffee shops/client offices </li></ul></ul><ul><ul><li>Sharing a friend’s office space </li></ul></ul><ul><ul><li>Leverage technology </li></ul></ul><ul><ul><ul><li>Email instead of letters </li></ul></ul></ul><ul><ul><ul><li>Scans instead of couriers/ faxes </li></ul></ul></ul><ul><ul><ul><li>Facebook instead of invitation cards </li></ul></ul></ul><ul><ul><ul><li>Skype instead of ISD calls </li></ul></ul></ul>www. running and living .com Unleash Your Potential
  11. 11. Generate Mileage – Free Marketing <ul><li>PR </li></ul><ul><li>Articles </li></ul><ul><li>Media Partners </li></ul><ul><li>Word of mouth </li></ul><ul><li>Database </li></ul><ul><li>E Mail </li></ul><ul><li>Web </li></ul><ul><ul><li>Site </li></ul></ul><ul><ul><li>Facebook </li></ul></ul><ul><ul><li>Twitter </li></ul></ul><ul><ul><li>Blogs </li></ul></ul><ul><ul><li>Google groups </li></ul></ul>www. running and living .com Unleash Your Potential
  12. 12. Managing Cash Flow <ul><li>Always be prompt on your payment commitments </li></ul><ul><ul><li>Earn trust of suppliers </li></ul></ul><ul><ul><li>Earn credit terms </li></ul></ul><ul><li>Selling to your customers </li></ul><ul><ul><li>Try and get advance part payments from some customers </li></ul></ul><ul><ul><li>Use these examples in your sales pitch </li></ul></ul><ul><ul><li>Use the start up card </li></ul></ul><ul><li>Get surprised by the credit you can earn and the advances that you can collect </li></ul>www. running and living .com Unleash Your Potential
  13. 13. Plan for SAVING Cash Flow <ul><li>Planning - Pre Start Up </li></ul>www. running and living .com Unleash Your Potential hare and Leverage – partner djust and be flexible in your schedules - travel ariablize - people ncome streams in the near term ecessary and Reasonable enerate mileage - free Cash Flow Management

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