4.4 • 1.3K Ratings
🗓️ 5 December 2024
⏱️ 23 minutes
🧾️ Download transcript
Todays show:
In the latest edition of Startup Finance Basics, Jason sits down with Scott Orn from Kruze Consulting to tackle essential year-end planning for startups. "Year-End Planning: Setting Your Startup Up for Success," covers crucial topics like assessing next year's fundraising needs, crafting an operating plan, preparing for taxes and compliance, and more. Don't miss these practical tips to ensure your startup is ready to thrive in the new year!
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Timestamps:
(0:00) Kruze COO, Scott Orn, joins Jason
(2:17) Evaluate Your Fundraising Needs for Next Year
(7:05) Financial Statement Review and Clean-up
(8:34) Set High-Level Goals and Strategy
(11:27) Cost Optimization Review
(13:39) Create Next Year's Operating Plan
(17:19) Tax and Compliance Planning
(19:02) Team and Equity Management
(20:22) Cash Management Strategy
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Check out Kruze: https://kruzeconsulting.com Check out more Finance Basics here: THISWEEKINSTARTUPS.COM/basics
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Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
Check out the TWIST500: https://www.twist500.com
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Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
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Follow Scott:
LinkedIn: https://www.linkedin.com/in/scottorn
X: https://twitter.com/scottorn
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Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
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Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
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Check out Jason’s suite of newsletters: https://substack.com/@calacanis
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Follow TWiST:
Twitter: https://twitter.com/TWiStartups
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Substack: https://twistartups.substack.com
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Subscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916
Click on a timestamp to play from that location
0:00.0 | All right, everybody, welcome back to this weekend startups. I do a little thing here on the show |
0:07.5 | called Startup Basic. Why do I do this? And I do it every year. Well, the basic things that startups have to get |
0:14.1 | right are critically important. And if they don't get them right, everything can blow up. It's kind of like |
0:19.0 | not checking your air tire pressure or changing the brakes on your car, changing the oil. |
0:23.7 | You know, somebody gets pulled over to the side of the road, their car blows up, and they're like, what happened? |
0:27.7 | It's like, did you see the engine light was on the whole time? And they're like, yeah, I wondered what that meant. It means you have low oil. You had to get the engine checked. You didn't do it. You blew up the engine. Now, the whole startup needs to be |
0:41.5 | repaired, et cetera. And what are the areas in which I find constant frustration? Legal, accounting, |
0:47.9 | human resources, human capital. These are probably the top three things that can throw a startup |
0:53.6 | into a tailspin. |
0:55.5 | Well, one of my great pit man, you know, in the pit with me, making sure that the car stays on the track is my guy, Scott Warren. |
1:04.9 | He's from Cruise Consulting. |
1:07.1 | They're a CPA. |
1:08.2 | They're dedicated only to VC back startups. |
1:10.7 | They're awesome. They've got a bunch |
1:12.3 | of launch clients, including podcast AI. And welcome back to the program, Scott. You've even had some of |
1:17.7 | our early stage customers, our portfolio companies like superhuman income who eventually graduate |
1:23.1 | because you like to focus on the early stage like me, yeah? Totally. We call it going off the |
1:26.8 | college, actually. |
1:28.3 | And you know what? |
1:30.6 | It's always a sad day when you drop your kids off of college. |
1:32.3 | I'll find that out in about 10 years. |
1:35.3 | But for the startups, it's pretty exciting, and we're happy to, we're happy to do it. |
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