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Basic guidelines for financial planning during bootstrapping your start up. SUP Academy Start up Chile. Santiago.
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Welcome
Fundraising, cost planning and budgeting during bootstrapping
Think > Plan > Execute
September 30, 2014Presented by:Fernanda – Start Up Chile / Cheruku – IDOS CORP
Aim for the Goal.
What do you want to achieve with your business?
Think Plan Execute
• Business plan• Cost planning• Budgeting• Source of money
• Goal• Time• Resources• Revenue generation• Fund raise
• Implement• Revise
Think.Goal –> Customers, competition, value creation, short & medium term goals
Time -> Final concept, MVP, Beta & Launch
Resources -> Staff, computers, office, etc.
Revenue Generation -> When, from whom & how much
Fund raise -> Bootstrap, Seed / Angel, VC, etc.
Plan.
ProductWhat are we building?
CostHow much money do
we need?
BudgetWhat expenses do we need to incur & when
Source of funds
Where do we get the money for expenses
Plan.
ProductWhat are we building?
What problem is the product going to solve How many people / businesses have this problem Are there other competing products to solve this problem Differentiators in our product How will be sell our product – marketing & sales strategy Monthly burn Pricing Break-even
Plan.
CostHow much money do we
need?
Must have One time expenses Monthly expenses
Good to have One time expenses Monthly expenses
Plan – Cost planningJan Feb Mar Apr May June July Aug Sep Oct Nov Dec
Must have 150000
Monthly Total expenses 145400
Office 3000 3000 3000 3000 3000 3000 3000 3000 3000 3000 3000 3000
Salaries 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000
Utilities 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000
Travel 2000 1000 0 5000 0 0 1000 2000 0 3000 1000 4000
Total 12000
11000 10000 15000 10000 10000 11000 12000 10000 13000 11000 14000
One time
Laptop 1500 0 0 0 0 2000 0 0 2500 0 0 0
Printer 0 0 0 200 0 0 0 0 0 0 0 0
License 100 0 0 0 0 0 100 0 0 0 0 0
Total 1600 0 0 200 0 2000 100 0 2500 0 0 0
13600
11000 10000 15200 10000 12000 11100 12000 12500 13000 11000 14000
Plan – BudgetJan Feb Mar Apr May June July Aug Sep Oct Nov Dec
Expenses 13600
11000 10000 15200 10000 12000 11100 12000 12500 13000 11000 14000
Funds available
Personal 12000
12000 12000 12000 12000 12000 12000 12000 12000 12000 12000 12000
Sales 0 0 0 0 0 0 0 0 0 3000 5000 5000
Shortage 1600 0 0 3200 0 0 0 0 500 0 0 0
Surplus 0 1000 2000 0 2000 0 900 0 0 2000 6000 3000
Total shortage 5300
Total surplus 16900
Net surplus 11600
http://www.youtube.com/watch?v=pN709oX9Bzk
Plan – Source of funds
Source of funds
Where do we get the money for expenses
How much money to raise? When to raise money? How to raise the money & at what cost?
Sales revenue Accelerators Friends and family Loan from banks Angel investment Venture capital
Execute.
Thank you