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Csuf startup incubator talk on the future of business with andrew carroll

  2. ABOUT ME Who I am What I did What I do Why I quit
  3. SPECIALIZATION Lowers costs Increases efficiency See:  David Heinemeier –  2000 people paying $40 a month  Adam Smith  “the division of labour is limited by the extent of the market.”
  4. WHY DO I CARE? And what does this have to do with accounting & finance? You have given up But come back to me! Because: You can get more service for less It is easier than ever to automate these pipes
  5. EVERYONE AN ENTREPRENEUR Building the backbone
  6. MANDATORY PIECES •Entity •Accounts •Books •Budgets •Payroll Yes, in this order Let’s make this simple, shall we?
  7. ENTITY Make one. Rocket Lawyer Legal Zoom Take Away: “Start-Up Entities” or Why Delaware is dumb.
  8. ACCOUNTS No one will give you money if there is no where to put it. Separate the Activity Separate the Activity Separate the Activity Take Away: This is how everyone screws themselves
  9. BOOKS No one is too small or too or too new QuickBooks Xero Freshbooks Take Away: Just stop. And Start. It’s not cute anymore.
  10. BUDGETS Why the 180 on advice dude? Income & Expenses The journey is the task Is it enough profit? Yes (s) Take Away: Find the flaws and iterate them out
  11. PAYROLL Show them what they want to see and they stop looking W-2s, 1099s, and SE Tax, Oh My! Gusto QBO Take Away: This is NOT something to screw with
  12. $1,500 That’s all it costs: To have your company accounting run on autopilot (Oh, and about 45 minutes a week) If you don’t believe enough in yourself to invest that, no one else will
  13. OUTSOURCING When and How
  14. WHEN? Opportunity cost (it’s always economics, isn’t it?) Professionals Services Automation Remember our discussion on specialization?
  15. PROFESSIONALS Understanding decisions versus commodities Lawyers CPAs Design Take Away: Learn to align incentives
  16. SERVICES A new way to think about “overhead” You don’t have to “in-source” Bookkeeping, web, administration Necessary evils Take Away: Start thinking about your business as stacked percentages
  17. AUTOMATION Wherever possible. And it is generally possible. Automation can be small and large Administration Control costs. A lot. Take Away: Learn from the Hipsters
  18. SPECIALIZATION CREATES PROFIT Or “How I learned to stop worrying and love the cloud”