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5 Tech Tips to Add Hours to Your Day

Posted by Patrick Hearn to Startup Tips, Business, Accounting

 

If there is one statement that holds true for all startup founders regardless of industry, it's this—there just aren't enough hours in the day. Between developing and promoting your product managing finances and fundraising, and overseeing vendors, clients, and employees (not to mention living your personal life), you can’t get it all done in a day. Thankfully, technology can alleviate some of that burden and help you work more efficiently. Here are five ways technology can help you add hours to your day..

3 Essential SaaS Metrics to Exceed Investor Expectations

Posted by Celene Robert to Startup Tips, Funding, Business, Accounting

 

If you run a Software as a Service (SaaS) company—that is, if you provide licensed software via the cloud—I have some good news for you. SaaS is on track to reach a public market value of $76 billion in 2020.


Let me put that number into perspective. In 2016, the SaaS public market was worth $38.5 billion. We’re talking about an already-booming industry with the power to nearly double in size in just four years.


Which leads me to my other piece of good news: SaaS companies present enormous opportunities for investors. But you probably knew that. Maybe you have a few investors on board and engaged in a funding round right now.


In any case, I’m here to help you attract investors and consistently exceed their expectations. The key, much like that $76 billion figure above, lies in the numbers. Take a look at a few essential metrics investors pay close attention to when evaluating your company’s performance:

The 8 Essentials of 409A Valuations

Posted by Celene Robert to Startup Tips, Business Advice

What is a 409A valuation? Why is it important, and when do you need one?


Countless startup founders have asked these questions, and yet the answers remain frustratingly long and tedious. Like so many tax-related topics, 409A valuations are in desperate need of a rebrand. The term derives not from a jumble of numbers and letters picked from a hat, but from Section 409A of the Internal Revenue Code, which regulates nonqualified deferred compensation paid to plan participants.


Bored yet? Let’s break down the essential things you need to know about this complicated topic.

Why Your Current Accounting Method Is Harming Your Startup's Chances at Success

Posted by Celene Robert to Startup Tips, Accounting, Business Advice

As a startup founder, you need the right financial data in order to make decisions that put you in a position for growth. The right financial information will help you understand your investments, build a financial forecast, and plan for future funding raises. In order to get this information and really understand how you’re performing, you need accounting that looks forward––aka accrual accounting.


Accrual accounting is the most accurate, useful, flexible, and shrewd accounting method. So why do so many businesses neglect to use it?


One reason is that for non-finance people, the term “accrual accounting” is perhaps the most boring combination of two words in the English language, and explanations of what it is and how it works tend to be equally tedious. With that in mind, I’m going to explain accrual accounting through a decidedly not dull example.

Startup Spotlight on Moozicore: How inDinero Helped One Startup Bring its Digital Jukebox to the U.S.

Posted by Celene Robert to Startup Tips, Accounting, Funding, Business Advice, Case Studies, Customer Spotlight

When was the last time you were at the gym, and cringe-worthy music completely distracted you from your workout? Or worse, while enjoying celebratory drinks out with friends, has gloomy background music brought down the atmosphere? Music is the social glue that binds us together, and yet in public spaces, we’re exposed to music we don’t like and no ability to change it.


Polish entrepreneurs Hubert Kawicki and Adam Krzak created a digital jukebox, Moozicore, to allow you to create your ultimate playlist at gyms, restaurants, or clubs directly from your phone. Giving the power back to the people, it starts at only 50¢ a song.

Which Financial Professionals Do You Need as Fundraising Consultants for Your Startup?

Posted by Celene Robert to Startup Tips, Accounting, Funding, Business Advice

“You have to spend money to make money.” The familiar business adage is perhaps nowhere more true than when it comes to fundraising. From researching VC firms to developing the pitch deck to buying that carbon fiber bike and lycra suit for cycling-based networking, finding investors is an investment in and of itself.


With the right team of financial professionals, however, you can minimize your upfront expenses and maximize your fundraising ROI (or is that ROIOI?). Whether strategizing with you as a co-pilot or merely taking some responsibilities off your plate, bookkeepers, accountants, controllers, and CFOs all play major roles in your startup’s fundraising success.

Spotlight on CommonCoach: How Inline Is Democratizing College Admissions From The Inside Out

Posted by Celene Robert to Customer Spotlight, Startup Tips, Case Studies, Business, Accounting

Share an essay on any topic of your choice. It can be one you've already written, one that responds to a different prompt, or one of your own design.


This is just one of many Common Application questions university candidates are facing today. Anyone facing college admissions is looking forward to hours, maybe days, of wading through demographic, academic, personal, essay (we could go on, there are so many more!) questions, often on their own or with the help of a very overworked school counselor. Perhaps the most daunting challenge for students is that they don’t understand which questions are most important, and how your answers affect your admission.


A couple of former admissions officers, Anna Ivey and Alison Cooper Chisolm, decided to level the playing field. They started CommonCoach and built their product, Inline, which provides real-time, expert support for all those pesky general questions. And the best part - you can get started for free.

Get Your Docs in a Row with Document Management

Posted by Celene Robert to Business, Accounting, inDinero Product Updates, Startup Tips

We know the moment well: you need your business’s tax return from the early 2000s and you know it's saved somewhere on your computer. However, the name, location, and really any other detail eludes you, as decades have passed. After 30 minutes of aimless searching, the tax return surfaces under an obscure filename.


Don’t let search get you down.


With Document Management (or Doc Management, as we like to call it), you have more control over all your business’s documents. As your virtual filing cabinet, you can upload, view, download, or delete important files like tax return, cap tables, or monthly billing statements.

Start Hiring Sooner—the IRS (and Your State) Will Literally Pay You To Do It

Posted by Celene Robert to Startup Tips, Business Advice, Business, Accounting, Taxes, Payroll

Hiring? If you run a startup, you probably should be. Job growth is up, unemployment is down, and our country’s already competitive labor market is on track to tighten even further in the coming months.


Long story short: now is the time to focus on employee recruitment and retention. Fortunately— for once—you can count on the Internal Revenue Service for help. Numerous tax credits cover costs associated with hiring. In fact, the United States tax code is full of benefits and incentives aimed at helping emerging companies like yours create jobs. Check out a few ways the government will literally pay you to hire people:

What Could Your Startup Accomplish With an Extra $250K in 2019?

Posted by Celene Robert to Startup Tips, Taxes, Business Advice, Business, Accounting

A quarter of a million dollars could transform your startup. Or it could buy you a vintage Taco Bell hot sauce packet. No joke—as of this writing, that is a genuine listing on eBay: one unopened pouch of Taco Bell hot sauce, circa 1984–1992, priced at exactly $250,000.


If you can think of better ways to spend $250,000 (or if collecting expired condiment packets is truly your definition of Living Más—I won’t judge), you should consider claiming the United States Research Experimentation Tax Credit, commonly referred to as the R&D Tax Credit.