This is a decision which will impact your business significantly. Deciding between an in-office or all-remote set up can make a huge difference to the financial path of your company. Whether you opt for an in-office or remote team operating model, various costs and financial impacts need to be...

Cash is king and cash flow forecasting is important for your business. Use it to get insight into cash runway, which is how many months of cash you have remaining, as well answer key questions such as where you need to reduce overheads, when to invest, what sales increases you need.   Here...

What are the top 3 assets ALL companies should be investing in so that they can achieve continued growth and success? Read on to learn more. 1. Customers Invest time and money in getting to know your customers by talking to them and learning about how their needs are evolving. One way to do...

Entering into lending agreements is a great opportunity for startups as it will provide access to capital to grow your business. Once you have identified a lender, a facility and are in the negotiation stage, pay close attention to these four critical areas: Be prepared to produce forecasts....

Using ownership, or equity, in your startup as a way to raise capital and bring on the right talent has many benefits. It means you don’t have to use cash and aligns incentives on the success of the company. Here are some do’s and don’ts around giving away a piece of your company. When raising...

For effective marketing, you’ll have to have a budget and resources, which includes people and technology and other supplies. People-wise, marketing skills can vary a lot. Many businesses these days tend to need marketing skills in the digital space, but even when you think about digital...

When you’re growing a brand, a customer base and a business, marketing will likely be one of your biggest spend items. You want to understand your buyer’s high-priority needs, then tie your product’s unique features to solve their most important problems. When you do that, you’re able to...

We wrote about “The Why, How and Who of Including Equity in Your Comp Plan.” Now that you’ve decided to offer equity, remember this: The whole topic of equity and stock options is somewhat complicated and potentially confusing, so be sure to be transparent and clear when communicating about it...

Including equity in your compensation plans is always a good idea, especially for startups. Not only will employees and potential employees expect it, but it buys you quite a few benefits when cash is low at the early stages of your company. Why should you include equity in your comp plan? ...

Sales commissions are a hefty cost item for startups, because sales is so important at this stage of a company. Since you’re going to have to spend money to make money, make sure you are spending it wisely. When you’re coming up with sales comp or commission plans, the most important thing you...

According to Payscale, the average base salary for a startup employee is $106,000 per year plus a $9,000 bonus. But hiring an employee will cost you a lot more than their salary. Some costs are “hidden,” even though they’re right there in plain sight. If you don’t think about these expenditures...

Paying Your Board Members: How and How Much? Did you expect qualified people would join your board for their own edification? You’re not alone in that thinking, but that’s not how it typically works. When you’re hiring board members, they’ll generally expect some kind of compensation, which...

Having a strong board is essential for a successful startup. Make sure you are select board members that reflect the right experience from industry, regional and operational perspectives for the business. For example, if you’re in health tech, having board members familiar with the health...

If you’re a CEO with a board meeting next week, you are, most likely, stressed. In fact, your whole organization has probably been spending too much time preparing your board report. You’ve involved a lot of people from the business, which will detract from actually running the business. It’s a...

If you have VC funding, your investors will want to be part of your board of directors. That means you’ll need to have one! Even if you’re not funded, you could equally decide to have a board because of the other benefits it can bring to your organization. A good board gives the CEO a chance...

According to CBInsights, the top reason startups fail is because they “ran out of cash and failed to raise new capital.” In fact, 38% of startups fail for this reason. But you’ve successfully raised funds for your company. You’ve done what more than a third of other companies couldn’t. You’ve...

What’s more important to you: white-glove service or financial safety? From a CFO’s point of view, a higher level of personal service is just not worth the risk of losing your money. Many startups and VCs liked the level of service offered by Silicon Valley Bank and similar financial...

As many startups breathe a collective sigh of relief that their Silicon Valley Bank (or other bank) deposits are being made whole, it’s important to consider the ongoing impacts of the banking failure on your company. The uncertainty and the fear may be subsiding, but you can’t simply continue on...

Five Things to Understand About Your Business BEFORE You Start Fundraising You’ve made the decision to raise outside funds for your business (which means you surely have read “When, Why and How to Raise Outside Capital for Your Business”). Before you go out to actually ask for money, you want...

How to Choose the Right Outside Funding for Your Business One of my clients invested their own funds and some family funds in their local food-delivery business, and it was growing well. They realized they would grow even more if they could get into more national partnerships and distributions....