YC Partner and CFO Kirsty Nathoo shares the most common mistakes startups make with their finances and how they can prevent them.
You can find the lecture slides and transcript here:
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Kirsty Nathoo – Managing Startup Finances
What planet is she living where someone gives you money for just an idea. Every investor I've talked to says you need to have traction before you can even get seed money and even when you get traction I still get mostly "no"s.
Kirsty, what a very informative video. You kept it simple to understand but gave a lot of info. Thanks!
remind me to never ever invest in any ycombinator startup if the founders don't know basic highschool stuff and this low iq woman is somehow scamming them out of consulting fees
Braaavooo the best managing startup finances class every entrepreneur should watch every week ๐๐ ๐๐ ๐๐
There were hella gems sparkled throughout this seminar, a-lot of big box ( Telecom ) companies could benefit from these concepts. Thank you Kirsty
Pitfall 1 : Not knowing what to look at – 1:30
Pitfall 2 : Not looking often enough
– 7:42
Pitfall 3 : Under-Representing Expenses – 8:27
Pitfall 4 : Out-sourcing responsibility – 12:00
Pitfall 5 : Scaling too quickly – 14:34
Pitfall 6 : Letting runway get too low before fundraising
– 19:34
Excellent financial overview.
even if a book-keeper ( or a gate keeper ) exists today, they are not recommended for start ups as someone has to design a good recording and reporting system that meets regulatory compliance.
you sound like an OLD minded (like 50 years ago) to talk about book keepers May be you are one one them with your UK accent. There are no such book-keepers these says – they are long gone !
I'll take some metrics out of your lesson
It was very simple, but still super informative and useful
Hey!, Wow!, Oh!
I started a vending machine business last year as a side job while I am employed to a corporate world. Now I rely more on my earnings in my vending machine business. Such a good idea to start one.
12:25
After 10 minutes, how much is in your bank account… really ?
fantastic explanations, Kirsty! Really enjoyed the simplicity of the 'scary topic of startup finances'
Simple and easy step to understand!
Wow, she's awesome! So much insight from this talk
Y combinator peeps doing a great job ๐
Concise and to the point. Well said!! Learned a lot
Great talk to learn about startup finance
I rated this video on YC Startupschool as transformational. Don't know why this lecture is not on my curriculum since they've updated the platform, but i came here and watch it again and take notes. As i'm about to get a pre seed funding . Gold content lecture. Thanks Kirsty. Thanks YC. Thanks to Internet. Courage in your journey dear friends founders.
The startup growth calculator is a great visualization tool, but imo it's too simplified because it assumes costs is fixed. Unless the business does not have variable costs, business costs increases as businesses ramp up. So the calculator may cause you to be over estimate the runway you have.
Startup finances – usually most startups are self funded originally pre revenue generation. Not useful for actual startup finance generation
Thanks
Hi Kirsty, great video! We've just published a video with a financial model that founders can build in 20min: https://youtu.be/vOwVfQmwmRA
It's basically one step deeper than the Startup Growth Calculator, it takes into consideration that revenue growth and expenses are not constant over time. Would love your feedback.
Thank you very much! Awesome advice for early startups!
I didn't think I needed to watch this (too early). But I did. Great advice to be efficient and get PMF before scaling
Thank you, helps to have this in the front of my mind.
Guys it says there the higher for this the better but what is a good enough revenue:employee ratio?
she is so beautiful…