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Martin van Wunnik 18 / 5 / 2016 | Martin van Wunnik 18 / 5 / 2016
4 FINANCE TAKE-AWAYS
for Startups
Martin van Wunnik
8 / 5 / 2016
Fábrica de Startups
Martin van Wunnik 28 / 5 / 2016 | Martin van Wunnik 28 / 5 / 2016
Creativity
level
Finance & Accounting
level
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4 TAKE AWAYS
Cash is king
What’s P&L ?
Where to get money?
Shareholders’ implications
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Cash is king
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What’s Profit & Loss (P&L) ?
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Cash flows ���� P&L
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Assumptions Financial Plan
What are your revenues ?
What are your costs ?
What are your investments ?
How many persons for your project ?
⇒ Expected cash flows
⇒ Required capital
⇒ Valuation
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Valuation
• The value of any business is the
present value of the future
income stream
• You sell future virtual profits for
present real money
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In my view, most nascent [startups] tend to overrate the
importance of external funding.
Rather, they may wish to consider funding it themselves at the
very start, get funding from their customers and/or suppliers
afterwards,
and only once they have a solid base and a cash-proof of your
business, they might start to consider external funding.
We should not forget that there is only a 1% (maximum!)
success rate to get such funding after discussions lasting 8-12
months on average.
http://arsimaprojects.eu/blog/finance-and-entrepreneurship
Funding ���� Entrepreneurship
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Where to get the money ?
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Shareholders � Control (>51%)
Absolute / Relative majority
40% - 60%40% - 10% - 10% -10% -10% -10% -10%
Voting RightsClass A & B
Minority (blocking) interest
Investors per phase (dilution)!
Stock options:
fiscal implications, buyer requiredvesting conditions : targets, period (4y)
Shareholders’ implications
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What is dilution ?
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Creativity
level
Finance & Accounting
level
Martin van Wunnik 158 / 5 / 2016 | Martin van Wunnik 158 / 5 / 2016
+32 2 880 79 55
This presentation is available for free:
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Martin van Wunnik
