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Mike Sigal - You've Raised Money, Now Don't Run Out Of It - Startup AddVenture Gdynia Budapest 2015

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Mike Sigal is Founder & CEO of Cashflower, a SaaS vendor that helps small businesses and startups automatically manage their finances and find the cash they need to survive and thrive.

In the last 25 years, Mike’s founded 5 startups, completed 3 exits including an IPO, advised corporations and government agencies on working with startups, and seen thousands of startup pitches. He’s spent the last 5 years focused on FinTech, serving as an Advisor to SWIFT Innotribe and a handful of FinTech startups. He’s a sought-after Mentor at accelerators likes 500 Startups & SeedCamp for his business development and pitching advice.

Mike’s lived in San Francisco since graduating from UC Berkeley, except during the dotcom bust, which he spent in London, Paris & Amsterdam. If you want Mike’s advice on your startup, start by signing up for Cashflower, telling him how you helped another startup, or sending him a great bottle of wine.

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Mike Sigal - You've Raised Money, Now Don't Run Out Of It - Startup AddVenture Gdynia Budapest 2015

  1. 1. #STARTUPADDVENTURE MIKE SIGAL CASHFLOWER YOU’VE RAISED MONEY NOW DON’T RUN OUT OF IT
  2. 2. 7000 
 SEED DEALS IN 3 YEARS
  3. 3. 10%
  4. 4. Simple rules
  5. 5. • Know your Milestones • Track your Performance • Monitor your Zero Cash Date • Control your Burn • Raise enough Money
  6. 6. 236 KNOW% YOUR% MILESTONES
  7. 7. 2004 2014 2015 SERIES C SCALE SERIES B GET TRACTION SCALE WRITE
 PLAN PRE
 FUNDING BUILD PROTOTYPE LAUNCH MVP SEED BUILD PROTOTYPE LAUNCH MVP GET TRACTION SERIES A LAUNCH PRODUCT GET TRACTION SCALE
  8. 8. TRACK% YOUR%% PERFORMANCE
  9. 9. AARRR!! METRICS FOR STARTUPS
  10. 10. MONITOR% YOUR% ZERO%CASH%DATE%
  11. 11. The date at which you run out of cash at your current burn-rate.
  12. 12. Metrics for Startups
  13. 13. The date at which you run out of cash at your CURRENT BURN RATE.
  14. 14. s CONTROL% YOUR%% BURN
  15. 15. • Hire slowly • Pay with equity • No founder salaries • Limit non-essentials • Use free stuff • Run smaller experiments
  16. 16. Raise enough RAISE% ENOUGH% MONEY
  17. 17. • 6-9 months • Hit milestone • Demonstrate trends 12-18 Months of Cash • 6-9 months of reserves • Keep making progress • Negotiate from strength
  18. 18. • Know your Milestones • Track your Performance • Monitor your Zero Cash Date • Control your Burn • Raise enough Money
  19. 19. Want presentation or beta? http://j.mp/BurnSurvey Front-End Developer (for equity)? mike@cashflower.co

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