078. Know Your Numbers
As the CEO of this business, you are going to be responsible ultimately for every aspect of it. Show that you know your numbers and it shows that you know your business.
About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $600k. You can learn more about us and our approach.
About Rich Maloy
Rich’s mission is to rebuild the American dream through entrepreneurship. He believes technology gives all people the opportunity to grow, learn and earn. He is a Managing Partner at SpringTime Ventures and the host of the VC Minute podcast. With prior careers in finance and sales, he's been focused on the startup ecosystem for over a dozen years. He's a father of two young children and loves sci-fi, skiing, and video games.
If there's one thing that will ruin your chances with an investor,aside from being a jerk,it's not knowing your numbers.As the CEO of this business,you are going to be responsible ultimately for every aspect of it.You need to know without having to look it up without having to scramble for it and without giving a range of estimates,you need to know what your revenue is right now.What's your revenue was at the same time last year.What's your MRR.And what's your ARR.And are you giving me a run rate or are you giving me actual ARR because you signed12month contracts?How many active paying members do you have?What's your CAC?What's your LTV?How much money have you saved people?How much money have you made for people?What's your ACV.How long does it take you to win a contract?Ultimately the CEO's responsibility is the business.As I said last season,there are risk beasts around every corner for a startup.If you don't know your numbers,it makes me think that you don't really understand what's going on in your business.CEO's that don't know their business,that don't know their numbers,are not going to do well.At a minimum just know at least what's in your deck so that you can talk to it.Know that you're going to get asked about the next level down from those numbers.You don't have to have every single number in your business memorized.Have your proforma financials and your historical financials already pulled up and be ready to talk to those as questions come in.Show that,you know,your numbers,and it shows that you know,your business.
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