The fourth way to get money to chase you applies primarily to CEOs: know the numbers--cold.
All entrepreneurs and CEOs need to know the key metrics that drive their businesses--the good ones all do. The following are some of the key things that you, as a CEO, need to know:
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How much money is in the bank right now -
How long it will last
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Revenue and cash flow (so far this month, this quarter and this year as well as last month, last quarter and last year)
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Projections for revenue, cash flow for this year and next
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When cash flows will turn positive
As you go about networking and meeting with your mentors, your conversations about your progress can be so much more meaningful if you have all of this in your head, ready for recall and application to specific conversations.
In our experience, we see that leaders who understand the numbers the best, relate better to VCs and have a better chance of raising capital.
Hi There Devin, Here's to online networking. Check out my website and you can sneak a peek at my venture. I'm a pediatrician with a great pediatric practice model and the ceo advice you give is great for this physician turned entrepeneur. What would you say investors like to have in their hands during a meeting with an entrepeneur? A one page diagram of the business and deal? A copy of the 20 slide powerpoint? or the executive summary?
Posted by: Natalie | September 1, 2006 5:37 PM | Permalink to Comment