Startup Budgeting 101 - The Grind Bootcamp @ OCAD University
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Transcript of Startup Budgeting 101 - The Grind Bootcamp @ OCAD University
Feb 4, 2016@[email protected]
• 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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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
• COGS• Gross• Net• Margin
Key Terms & Principles• MRR• Run Rate• CAC• LTV• Churn Rate• Growth Rate• Burn Rate
Feb 4, 2016@CoryRosenfield
• 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
• 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
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
• 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
SEED STAGE: incubators, friends & family, angel investors, early VCs
Feb 4, 2016@CoryRosenfield
Feb 4, 2016@CoryRosenfield