Sprout Up TO
                                    Sept. 22, 2010




 Common Startup Mistakes
   A finance guy’s perspectiv...
Introduction
                                   mark macleod	

                                       CFO




            ...
Common Finance Mistakes
 and how to avoid them…	



   Making Money	

   Spending Money	

   Financing	

   Everything els...
Making Money	





© StartupCFO Enterprises Inc.
Making Money: Services	

 Unclear offering / positioning	





© StartupCFO Enterprises Inc.
Making Money: Services	





© StartupCFO Enterprises Inc.
Making Money: Services	

 Poor acquisition & mining	





© StartupCFO Enterprises Inc.
Making Money: Services	

 Leaving money on the table	





© StartupCFO Enterprises Inc.
Making Money: Services	

 Not asking for the order	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	

 Waiting too long to charge	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	

 Complexity & user friction	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	

 Forgetting this…	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	

 No options	





© StartupCFO Enterprises Inc.
Making Money: Products & Tech	

 Not loving users enough	





© StartupCFO Enterprises Inc.
Spending Money	





© StartupCFO Enterprises Inc.
Spending Money: Services	

 Not obeying the R/S ratio:	





© StartupCFO Enterprises Inc.
Spending Money: Services	

 Poor project management	





© StartupCFO Enterprises Inc.
Spending Money: Services	

 Not enough variable costs	





© StartupCFO Enterprises Inc.
Spending Money: Products & Tech	

 Hiring too much too soon	





© StartupCFO Enterprises Inc.
Spending Money: Products & Tech	

 Staff vs. subcontractors	


          Staff: 	

          Core areas 	

           - pr...
Spending Money: Products & Tech	

 Lack of focus	





© StartupCFO Enterprises Inc.
Financing Your Business	





© StartupCFO Enterprises Inc.
Financing	

 Customers: giving away too much credit	





© StartupCFO Enterprises Inc.
Financing	

 Customers: not knowing how to get paid	





© StartupCFO Enterprises Inc.
Financing	

 Government: using it as a bank	





© StartupCFO Enterprises Inc.
Financing	

 Investors: not understanding the game 	





© StartupCFO Enterprises Inc.
Financing	

 Investors: not finding money that fits your needs	





© StartupCFO Enterprises Inc.
Financing	

 Not negotiating *everything*	





© StartupCFO Enterprises Inc.
Everything Else…	





© StartupCFO Enterprises Inc.
Everything else…	

 Co-founders: vesting & marriage	





© StartupCFO Enterprises Inc.
Everything else…	

 Not defining culture & values	





© StartupCFO Enterprises Inc.
Everything else…	

 Forgetting the vision	





© StartupCFO Enterprises Inc.
Thank you

                                   mark macleod	



                                      @startupcfo	



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

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Sproutup presentation220910 final

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

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