Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

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Feb 4, 2016 @CoryRosenfield [email protected]

Transcript of Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

Page 1: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

Feb 4, 2016@[email protected]

Page 2: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

• About Me• Key Terms & Principles• Important Documents• Budgeting Best Practices• Fundraising 101• Non-Dilutive Funding Sources• Questions• Worksheet

Agenda

Feb 4, 2016@CoryRosenfield

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Page 3: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

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About Me

- Laurier BBA (2 years)- Fidelity IT – Acquired (Age 20)- Supernova – Financial Controller- Conestoga - ACET- EP, InfiniteSM, Qoints

- Golf|Baseball|Biking|Stocks|Real-Estate|Fantasy-Sports

Cory Ian Rosenfield, EST. 1985 – Thornhill

Feb 4, 2016@CoryRosenfield

[email protected]

Page 4: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

• COGS• Gross• Net• Margin

Key Terms & Principles• MRR• Run Rate• CAC• LTV• Churn Rate• Growth Rate• Burn Rate

Feb 4, 2016@CoryRosenfield

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Page 5: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

• Income Statement• Balance Sheet• Cash Flow• Staffing Sheet• Sales Projections/Pipeline*Should all have versions for actual and projected

• Cap Table• Shareholders Agreement• ESOP

Important Documents

Feb 4, 2016@CoryRosenfield

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Page 6: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

• Fixed vs. Variable Costs

• Get people excited – and they give you FREE stuff

• Equity (and options) are your most valuable resource

• Save 15% for a rainy day

Budgeting Best Practices

Feb 4, 2016@CoryRosenfield

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Page 7: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

HOW TO FUND MY BUSINESS??? (in order of cost)• Revenue• Grants & Tax Credits• Loans/Debt• Equity

• Angel• VC• Institutional

Fundraising 101

Feb 4, 2016@CoryRosenfield

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Page 8: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

• Ontario Centres of Excellence – Smart Start, Market Readiness, Etc. (matching commercialization)

• IRAP (technical advancement)• Enterprise Toronto (regional acceleration)• MaRS Embark (22-29 for 6 months)• MaRS Embedded Executive (senior leader for 6 months)• N1M (regional acceleration)• MITACS (PHD/Masters students)• ICTC (hiring under 30)• CDMN Soft Landing (travel)• SR&ED (research & development)• FedDev IBI (accredited investor match)

Non-Dilutive Funding Sources

Feb 4, 2016@CoryRosenfield

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Page 9: Startup Budgeting 101 - The Grind Bootcamp @ OCAD University

SEED STAGE: incubators, friends & family, angel investors, early VCs

Feb 4, 2016@CoryRosenfield

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Feb 4, 2016@CoryRosenfield

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Worksheet (Cash Flow Statement)

Feb 4, 2016@CoryRosenfield

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@[email protected]

www.qoints.com

Feb 4, 2016@CoryRosenfield

[email protected]