how to spend your investors money

How to spend your Startup Chile money?

- Getting their money back?- Rules of spending at startup chile http://www.startupchile.org/about/faqs/

- Types of spender in startups chile

Types of Spenders:- Impulsive buyers

Get drunk in a pub and hire their friends- Misers: Spend so much time worried about making a decision that they can’t spend

effecitly. End up not spending their money on time.- But you want to be a planner:

You need a little bit of all three :

- Set your budgets- Running costs: How “must your spend” (wages: food, macbooks)- Development: - Marketing:- Support:

eg: mobile app:

- “Static” Burn rate: 2 people * $1,500 * 6 = $9,000- Air fares / travel $3,000- Dev: $3k * 3 = $9k- Marketing:

- FB ads: $4000- Adwords: $4000- Hire copywriter: $500

Why you should use rubberstamp to manage your startup chile money:

Set up your budgets: get your team members or co-founders to “approve” spending each month.

Benefit:

- Stops “impulsive buying”- Means you spend the money on the right things

- You always have a second set of eyes on an expenditure- Your reimbursement process is much easier.