Do you care about the money?

Max Spitsyn
5 replies
When you are just rolling out your new big thing, do you really care about how much money you burn? Do you track your expenses and do you generally plan ahead? Do you set aside some ramen money or just let it roll? Especially if you are bootstrapped? How do you link your revenue and expense? How do you track your userbase behavior?

Replies

Founder of Enablix
I do. I didn't when I rolled out my product. But as we are exploring pivots (not a complete pivot but different use cases and persona), I care primarily about the Money. In my case I was working from a set aside savings pool and also did some consulting on the side. But it has been hard to sustain. And I have family, mortgage, everything. So yeah, I do care about money and track my expenses and revenue closely. We sell into B2B companies. We don't obsess over each individual user behavior. We make sure that there is decent engagement and also sync in with our buyers (marketers) every couple of months to check how things are going to gauge the emotional temperature.
Big business to techincal founder
@gharode Thanks for sharing, much appreciated! I'm in the same boat, but you seem to be miles ahead :) Did you track your budget in any way?
Founder of Enablix
@max_spitsyn Yes. Way back in 2016, I came upon this post from Christoph Janz at Point Nine Capital. http://christophjanz.blogspot.co... In this post he shares an excel template. It is way detailed if you are starting out but you can strip out a lot of stuff and keep it simple. The good thing of having the template is when your business grows, you can add stuff to it. If this is an overkill, I will keep a excel book which tracks all expenses on a monthly basis.
Big business to techincal founder
@gharode Thanks again! Will have a look into it.
not really