The number two reason startups fail is that they run out of cash. While frugality and bootstrapping can extend your runway, many pre-seed startups have poor tracking of their cash flow. An equally opposite problem is raising too much money and misallocating the cash or spending it too quickly. Whether you’re a bootstrapped startup or you’ve secured funding, paying very close attention to your business's cash as it ebbs and flows is vital for both long and short-term success. Michael Tannenbaum, CFO of Brex - the credit card for startups, shares how pre-seed startups can avoid the pitfalls of money mismanagement, and running out of cash. He’ll cover how to develop good financial infrastructure, benchmark spending, calibrate marketing return on investment and broadly how founders can become CFO-ready when it’s time to forecast or meet with investors. Using his own experiences at a two-year old startup, Michael will share the key elements to their financial mapping during the early days and how all of this played out when they got their influx of cash from their first, and subsequent investors.
Michael will answer audience questions after the keynote presentation.
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