How to Spend Your Investors Money

Download How to Spend Your Investors Money

Post on 18-Aug-2015

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  1. 1. 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 cant 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
  2. 2. - 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.