Kruze Consulting’s Post

🌟 Attention VC-backed startups! When signing a new customer, what data do you track? It's crucial for compliance and financial health! Here’s what you need: 1️⃣ Customer Name & Address 2️⃣ Customer Phone Number 3️⃣ Product Name and Quantity Sold 4️⃣ Unit Price 5️⃣ Contract Duration And more - scroll through our presentation below to learn more! Leverage these insights to streamline your operations and safeguard your startup's future. Remember, the right data keeps your accounting accurate and your business compliant! #StartupSuccess #FinancialHealth #DataDriven

🚀 Founders, Do You Really Understand Your Financial Statements? 🚀 Many first-time founders struggle to grasp the financial documents their investors expect. Understanding these is crucial for securing VC funding and steering your startup toward success. Here’s a quick introduction to the three main financial statements you need to know: 🔸 Income Statement: Shows your profit and loss over time. It details how much you’re earning versus spending. 🔸 Cash Flow Statement: Tracks the flow of cash in and out of your business, providing insight into your liquidity. 🔸 Balance Sheet: Offers a snapshot of your financial position, balancing assets, liabilities, and equity. These statements aren't just for show—they tell the story of your startup's health and potential. VCs expect these to be produced on an accrual basis, just like the SEC mandates for publicly traded companies. Understanding these can make or break your funding opportunities. Don’t let confusion hold you back. Get informed and take control of your financial narrative. 💼📈 🔗 For a deeper dive into understanding and leveraging your financial statements, check out the link in the first comment below. #StartupFinance #FinancialStatements #VCFunding #Entrepreneurship

🚨 Energy Tech Founders: Your Industry is Unique, and So Are the Metrics That Matter! ⚡ This was pretty eye-opening to me. David Forsberg, CFA from Ascent Energy Ventures dropped some bombs 💣 on investing in the energy tech space. 💡 David reveals a game-changing insight: The metrics that matter in energy tech are fundamentally different from those in the SaaS world. 📊 In the energy tech industry, the number and diversity of your customer base are far more critical than hitting a specific ARR target. 👥 In this clip, we explore: +Why energy tech requires specialized investing knowledge +The dangers of relying on standard SaaS metrics in the energy tech space +The key factors that energy tech investors focus on when evaluating startups This is just a taste of the invaluable wisdom David shares. To fully grasp the nuances of securing investment in the energy tech industry, check out the full podcast on YouTube or your favorite podcast platform. 🎧 Tag an energy tech founder who needs to hear this critical advice! ⚡

10 Best Banks for Funded Startups in 2024! 💼💡 Choosing the right bank for your startup can make or break your financial management. Our latest article navigates the best banks for VC-backed startups, highlighting essential qualities like customer service, technical integration, and financial stability. In 2024, JP Morgan Chase leads in market share among our startup clients, followed by the newly revived SVB and Mercury (technically not a bank!). With the banking world stabilizing after a tumultuous 2023, it’s crucial for founders to not just rely on a single financial institution but to spread their funds for safety and better service. Discover why having multiple bank accounts and relationships is now the norm and how to choose the best bank for your startup. Your business deserves the best financial support. 🌟 👉 Read more in the first comment! #StartupFinance

🚀 Mastering Financial Due Diligence for VC Success! Startups I've worked with have collectively raised over $15 billion in VC funding. One critical factor in their success? Flawless financial due diligence preparation. (I think it’s another reason that our startups are twice as likely to get acquired; read some of my previous posts to learn more about that!) As a founder, this isn't just about ticking boxes. It's about building trust and showcasing your startup's potential. Here's what you need to focus on: 1️⃣ Organize Essential Documents for Quick Access 📁  2️⃣ Anticipate VC Questions on Market Size and Business Model 🤔  3️⃣ Demonstrate Clear Financial Health and Growth Paths 📈  4️⃣ Showcase Strong Market Fit with Customer Testimonials 🌟  5️⃣ Address Potential Risks Proactively 🚀 These strategies are not just theoretical; my team at Kruze Consulting has seen their impact firsthand in helping startups secure critical funding. Swipe through our infographic below for a deep dive into each strategy.