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400 employees will mean I still have a spreadsheet that tracks my cashflows and ensures I run a regular town hall to inform employees where we are. At what poin
by cl42 11y ago
400 employees will mean I still have a spreadsheet that tracks my cashflows and ensures I run a regular town hall to inform employees where we are. At what point does one not have such a spreadsheet/dashboard/report?
Heck, a 400 you should have a part-time or full-time CFO who manages much of that for you to avoid such situations.
- nedwin 11y agoDo you currently report how much cash is in the bank and your corresponding runway to your employees? It is hard to do at the best of times, particularly hard when things are tight to balance transparency with not wanting your team to start looking for new opportunities when things are getting close to the wire. Add to this different people have different perspectives on what is "close to the wire". For me it's 6 months, for many it's 12 months, for some it's less than 30 days.
- toomuchtodo 11y ago> Do you currently report how much cash is in the bank and your corresponding runway to your employees? The startup I work for does, and other startups provide this level of transparency as well. It's not hard, unless you're incompetent at communication and finance (but you shouldn't, right? because you're a founder/co-founder/leadership who has peoples' financial lives in your hands, because this isn't a game for people who need to make rent/mortgage payments every month). "We have X in the bank, this is our runway, we have this many more months to be profitable or raise another round."
- rokhayakebe 11y agoYou are possibly correct, but I have no insights into this company, hence I cannot come to conclusion as to what they have or should have. The situation may just be more complicated and complex than the spreadsheet theory.