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Startup Validation: Difference between revisions
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==== Budgeting ==== | ==== Budgeting ==== | ||
* What costs over the last years/ | * What costs did you have over the last years/months (since inception)? | ||
* Do you currently receive a salary? What will your salary be after a successful funding round? | * Do you currently receive a salary? What will your salary be after a successful funding round? | ||
* What is your current budgeting plan? If you are not cash flow positive do you know how long your cash will last before you need to cancel the project? e.g. 9m month run away cash. | * What is your current budgeting plan? If you are not cash flow positive do you know how long your cash will last before you need to cancel the project? e.g. 9m month run away cash. | ||
* How much money are you planning to raise? How are you planing to spend that cash? | * How much money are you planning to raise in your next round? How are you planing to spend that cash? (budgeting plan) How much runway will you have after closing your funding round? Are you planning (costly) investments in the near future? | ||
* Do you see a way to grow faster (or more sustainably) by making certain investments (hiring developers, hirings sales reps, advertising)? | * Do you see a way to grow faster (or more sustainably) by making certain investments (hiring developers, hirings sales reps, advertising)? | ||
* Are you well prepared on the tax front (monthly payment of payroll tax, VAT) to avoid unexpected tax payments? What processes do you have in place for accounting/ tax and how automated are these? (Checklist here (starting with "1. How to start Finance?"): https://www.florianhuber.de/blog/know-your-numbers-finance-and-controlling-in-early-stage-startups/) | * Are you well prepared on the tax front (monthly payment of payroll tax, VAT) to avoid unexpected tax payments? What processes do you have in place for accounting/ tax and how automated are these? (Checklist here (starting with "1. How to start Finance?"): https://www.florianhuber.de/blog/know-your-numbers-finance-and-controlling-in-early-stage-startups/) | ||