Kirsty Nathoo - Managing Startup Finances
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- Опубліковано 6 чер 2024
- 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: www.startupschool.org/videos/70
Find more Startup School and YC content at www.startupschool.org/library. - Наука та технологія
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
Thank you for providing timestamps!
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.
I know it's been 2 years but would love to get an update over your firm...
There are so many golden nuggets in this short talk, excellent!
Kirsty Nathoo 🙌🏽🙌🏽🙌🏽 One of my YC's favorites. One half-hour class with her and your learnings will 10X, believe me. PURE GOLD
I believe you.
Absolutely true!
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.
Thank you Kirsty. That was very helpful. I can see that you are an addition to beauty and brains in the YC team. 😊
For my startup, I spent $3 million so far and kept it lean, with just 3 people. Don’t hire unless you actually need to and there is ROI, very relevant
What's your startup about?
okay okay oncology focused biotech
khouse cool
How are you doing now?
@@khouse1554 how’s it going so far?
Braaavooo the best managing startup finances class every entrepreneur should watch every week 👏👏 👏👏 👏👏
Kirsty, what a very informative video. You kept it simple to understand but gave a lot of info. Thanks!
I didn't think I needed to watch this (too early). But I did. Great advice to be efficient and get PMF before scaling
This is one of the better startup school videos. Love the revenue /employees ratio
Tqvm for the content..the audio is superb..good job
Excellent Kirsty; thank you for sharing it. I see FOMO as a pattern between most of the points. My takeaway is that controlling anxiety and analyzing logically the finances at a high level are the keys.
Thank you, helps to have this in the front of my mind.
Thank you very much! Awesome advice for early startups!
There were hella gems sparkled throughout this seminar, a-lot of big box ( Telecom ) companies could benefit from these concepts. Thank you Kirsty
What are big-box telecom companies?
Kirsty, hanks for sharing your knowledge and experience Great job YC
Wow, she's awesome! So much insight from this talk
Thank you for making this video! Helped our team understand so simply!
Had the lovely opportunity to sit in this lecture...truly, the benefit of asking questions back make sessions like this immeasurably valuable. Thank you for setting time aside to do this for the startup community! Sincerely, clint from Protogro
What's your startup about?
fantastic explanations, Kirsty! Really enjoyed the simplicity of the 'scary topic of startup finances'
Concise and to the point. Well said!! Learned a lot
Slides are so beautiful
Looking forward to the ama!
Simple and easy step to understand!
It was very simple, but still super informative and useful
Kirsty is a great teacher 💯
amazingly done!!! this should be awarded the best video of all time to when it comes to the topic of managing startups finances!!
Great talk to learn about startup finance
Insightful lecture
Thanks to kirsty who emphasized clearly about proliferation of startups in their strives
Excellent financial overview.
Great video!
From the owner of a fast growing startup, this is exactly what I needed. Thank you greatly.
good luck in your startup business
Wonderful!!!
MAHALOS PERFECT TIMING ...
Immensely valuable 💡
Pure gold. Thank you! 🙏🏼
Gold!!
this is soooooo helpful 🎁🤦♂️ thank you!
THANK YOU!
Thanks
Y combinator peeps doing a great job 👍
Ty
I really enjoy your explanations. Really clear. Thanks
Very very practical, reality-check-focused talk. So often you see grand, delusional ideas, but the realism is also necessary
It's even true in the most successful companies; amazing that AirBnB and Zillow are still net not profitable. Not sure in the big picture why that doesn't kill em, but a lot of people are losing a few bucks in the process. I'd guess it's the shareholders and/or VCs losing a smidge each time, but yeah, very very weird
I really benefited from such video. Well done, Miss Kirsty Nathoo
amazing
What a valuable lecture ❤
~Ratan vaghela 2023
Guys it says there the higher for this the better but what is a good enough revenue:employee ratio?
Love her accent
Great 👍
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.
Currently I am a seed stage and it is profitable. Next step I will scale
Simple essentials !
Why is the cost of user acquisition higher later on, when you have brand recognition, a better and more known product (social proof), favorable reviews, etc?
Alex Supremo 2cents.. as you progress along the adoption curve you are spending more time and money to convert. Early on for innovators, word of mouth and some visibility might do the job. Early adopters May be influenced by your innovators (thought leaders) and easy to convert. Early majority is going to take some convincing and cost you some marketing dollars. Late majority and laggards are going to cost substantially. In addition, early sales probably involves the founders hustling which isn’t a book cost. Later you might have sales costs that fold in to acquiring a customer. It doesn’t have to be this way but is pretty common as companies scale.
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.
When you calculate expenses, do the maximum expenses, a dollar saved is a dollar earned, the most important thing is GROWTH
still better than not calculating it
#Awesome
This is needful especially at a time when I am planning on how my startup is going to utilize its seed fund appropriately.
After 10 years of experience, GIVE YOUR MONTHLY / YEARLY REPORT to someone to check it for you (to someone who is NOT your Accountant/Bookkeeper) before you sign it.
where are the slides?
After 10 minutes, how much is in your bank account... really ?
👏👏👏
Hey!, Wow!, Oh!
12:25
Startup finances - usually most startups are self funded originally pre revenue generation. Not useful for actual startup finance generation
You are right, but even even if you are self funded doesn't it means you don't have to track and have your finance in order?
As a self fund founder, don't you plan to get outside capital? loan, pre seed or whatever?
And finally, the auditorium is for YC startups founders who will received each $150K.
So it remain quite useful.
the numbers fluctuate a lot so too much moving targets
I want to build a small rocket to fly into space. I need a team of engineers.
Use a amount of money
As a bank
Expenses crimp up over time
A line if vredit
No employee is not a cost
They ar should be treated as it's there home
Dragon on the bottom
Out source to india
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.
I'll take some metrics out of your lesson
she is so beautiful...
Yes, but what's important is she gives really good advice
Useless... Y Combinator should be driven by creators, not by demotivated accountants...
Both are important. Real people need to get paid. Morality of paying folks' mortgages / rent is also important
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 !
The replacement is?
@@cchan824 computers have taken over !!
@@gauthapandith how does the data get into the computer?
@@cchan824 yes, not done by book-keeper!!
@@gauthapandith clerk, AP, AR all the same
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
I would try running a business yourself before casting stones. You have to keep so so so many things in mind as you're running your company, and finances are only one of them