TINY THOUGHTS

 

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Next year (annual planning, part II)

Last week’s newsletter was originally meant to have a quick, one-paragraph introduction before launching into a piece about annual planning. I wanted to acknowledge how uniquely hard it is to get started on this annual exercise this year; before I knew it, the intro had taken over and...

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This year (annual planning, part I)

Are you someone who thinks detailed annual planning, whether entrepreneurial or life-related, is a waste of time? A lot of people would probably say 2020 proved you right. The jokes write themselves.

In December 2019, I was just wrapping up a three-months-turned-six project at Deliveroo....

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Therapists versus CFOs, and taking advice from both

Starting a business requires a whole lot of intuition. The idea that people would stay in strangers’ homes instead of hotels, and even pay for the pleasure of doing so? That must have come from a pretty damn inspired place, if you ask me.

But what often happens very quickly at...

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Everything depends (a final word on financial statements)

If there is one type of answer I hate when I ask for a professional opinion, for example from a lawyer, it’s “it depends”. I know it does, goddammit, but I don’t want to learn about the entire universe of legal options. Just tell me what I need to know.

Still, I do find it...

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Am I burning through cash? (ask your cash flow statement)

Finally, my favourite – the Cash Flow Statement. Unlike P&L and the Balance Sheet, Cash Flow as a concept is super intuitive. Simply, it is money moving in and out of your company’s bank account, and we call that cash inflow and outflow. Positive Cash Flow means...

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Am I rich yet? (ask your balance sheet)

Last week I talked about how your P&L tells you whether your company made a profit or a loss. (And the week before, why you should care about financial statements as a founder.) This week – we’re talking about the Balance Sheet.

I like to use a personal finance analogy...

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Am I making money? (ask your P&L)

Following last week’s newsletter which hopefully helped to internalise why you, yes you awesome entrepreneur you, should keep reading Tiny CFO, I’m excited to share the first of a mini-series on financial statements.

A word of caution. Millions of pages have been written on...

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What the hell is going on (ask your financial statements)

A friend recently asked me how to structure a P&L. I started writing an article about that, then I realised I will first need to explain what a P&L even is. Then I realised I will also need to explain what financial statements are. So I deleted the whole thing and wrote something more fun...

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Math genius (not) needed

The other day, I talked to a founder who warned me about his lack of math skills. He had a degree in design – surely that means his ability to wrap his head around finance will be limited.

Many people think this. But it’s not really true.

The thing is, most of the “math”...

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Everything is a funnel (will people come to my party?)

Whenever I hear a founder worry about whether anyone will buy their product, it triggers my own anxiety – but not to do with anything business related. It reminds me of how I feel when I host a party, or you know, used to host, pre-Covid.

The thing is, I get pretty bad event-hosting...

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Sofa winning over gym, every time (why isn't everyone doing this?)

When a friend read my article from September about raising capital from customers, she immediately “got it”. It was so obvious to her that the only follow up question she had was: “If it makes so much sense, why isn’t everyone doing it?”

This really made me think....

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Growth and why it matters

The popular wisdom goes as follows: startups that want to become unicorns need to think about growth all the time; everyone else is off the hook.

This is very, very wrong. Why?

Simply because when you start at zero – as every new business does, without exception – you need to...

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