Tools

Explore

Videos Channels Figures

Atmrix

Tools

Explore

Videos Channels Figures

Atmrix

KN

Kirsty Nathoo

08/22/19

@ Y Combinator

Outsourcing financial responsibilities to a bookkeeper is normal, but the CEO and founders must still understand the financial numbers and question any discrepancies in reports.

Video

Kirsty Nathoo - Managing Startup Finances

@ Y Combinator

Kirsty Nathoo - Managing Startup Finances

08/22/19

Related Takeaways

Y Combinator Cast

04/28/17

@ Y Combinator

As a founder, you must be involved in financial documentation because your bookkeeper or CPA won't know the specifics of your business expenses.

Kirsty Nathoo

08/22/19

@ Y Combinator

You typically don't need a full-time CFO until after Series A; earlier, you can rely on bookkeepers and consultants for financial guidance.

Kirsty Nathoo

04/28/17

@ Y Combinator

It's vital for founders to stay informed about the financial and legal aspects of their startup, as misunderstandings can lead to significant issues down the line.

Y Combinator Cast

02/13/25

@ Y Combinator

It's crucial for founders to be honest with themselves about their spending and revenue expectations, as unrealistic assumptions can lead to financial failure.

Kirsty Nathoo

08/22/19

@ Y Combinator

You should know your bank balance, the money coming in, and the money going out to ensure your company's financial health.

Kirsty Nathoo

08/22/19

@ Y Combinator

You should regularly review your financial numbers, ideally at least weekly, to stay informed about your company's financial health.

Kirsty Nathoo

10/17/18

@ Y Combinator

Many founders mistakenly believe they don't need to worry about their cap table, but it's essential for you as the CEO or founder to understand it.

Kirsty Nathoo

04/28/17

@ Y Combinator

When considering expenses, founders should ask themselves if they would feel embarrassed explaining their spending to investors; if so, it likely isn't a legitimate business expense.

Y Combinator Cast

05/07/22

@ Y Combinator

It's important for founders to understand that the perception of needing to grow rapidly can lead to poor decision-making, such as overspending or neglecting financial health.