This Week in Startups Year-End Planning for Startup Success | Startup Finance Basics w/ Kruze's Scott Orn
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Dec 5, 2024 
Scott Orn, COO of Kruze Consulting, specializes in guiding VC-backed startups through financial challenges. In this insightful discussion, he shares key strategies for effective year-end planning. Scott emphasizes evaluating fundraising needs, creating a robust operating plan, and implementing cost optimization tactics. He also dives into tax compliance and the significance of maintaining cash reserves. Founders will find his practical tips invaluable to ensure their startups are financially prepared for the opportunities of the new year.
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Assess Fundability
- Ask your venture syndicate if your startup is currently fundable.
- If not, identify necessary changes to improve fundability and discuss with them.
Fundraising Prep
- Determine if you will raise money in 2025; "maybe" means "no".
- If raising, aim for at least nine months of runway before starting.
Extend Runway
- If you have only three months of runway, take action to extend it.
- Cut costs, reduce salaries, and increase prices to show six months of runway.