🦄 Financial Reporting: 0 To Hero

How to build a reporting model in <1h, the case for an external CFO, Peter Thiel Vs Buffet.

Apr 18

Hi! I’m Ivan Landabaso, partner at JME.vc. Join 3K entrepreneurs surfing startup trends. Easily digestible, twice per month. From Spain to the 🌍.

Summary

Gm riders. Here’s what’s up in startup-land:

🧮 Financial Reporting: 3 resources to go from 0 to 1 & the case for the external CFO.
🧱 Web3’s Top 3: Peter Thiel Vs. Buffett, Elon Vs Twitter and Eth2 delays.
💵 Deals & Jobs: 12 startup deals in Spain (>165M) and 9 quality growth jobs.

🧮 Financial Reporting: 0 to Hero

This week’s special section is written by the good people at the The Startup CFO - buckle up as they break down startup finance and the 80/20 on how to level up 👇

😟 Problem

Startups often struggle to monitor metrics and finances once their project starts to grow - often due to lack of time, expertise or both. The usual suspects are:

Lack of control over unit economics
Lack of control over everyday costs
Forecasting: not estimating future scenarios

🤩 Solution

Integrating reporting and forecasting into your startup’s culture.

Make your decisions based on evidence backed by real figures. Reporting provides hard facts to make better decisions.

👌 How to get started

1. How to prepare a Business Plan in one hour (Spanish)

2. How to build a Reporting model in one hour (Spanish)

3. Introduction to the Cash Runway Forecast

⭐ If you want a step-by-step deep dive - The Startup CFO just launched Academy, a 3-month online course that goes through what a CFO has to solve for on a daily basis - starting April 28th.

⏳ An external CFO?

Reporting should be continuous, which is why hiring an external CFO can be a wise decision - depending on your stage and business model. But how does it work?

Typically, an analyst will be assigned to setup and monitor day-to-day financials, usually owning execution and financial reporting materials.

What’s cool is these analysts will be leveraging “the latests and greatest” financial reporting tools and bring their learnings to the table - which can save you a bunch of time. Here’s a few examples:

🚀 Who’s doing it?

A few examples of Spanish startups that have externalised the CFO role:

Cobee: Creating the perfect benefits plan for you and your employees
Graphext: Guiding you to build data science projects remarkably fast, collaboratively and without writing code
Validated ID: Provide trust for your electronic signatures and digital identity

🧱 Web3’s Top 3

Investments in crypto-assets are not regulated. They may not be appropriate for retail investors & the full amount invested may be lost.

The 3 biggest news in crypto in <1 min:

1. Elon “I-have-moved-straight-to-the-end” Musk buying Twitter?

The place were web3 reaches the masses, using top shelf copywriting skills.

2. Peter Thiel doing the Bitcoin Conference Keynote = wild

And calls Warren Buffet a Sociopathic Grandpa.

3. Ethereum’s upgrade gets delayed (again)

Not gonna be June, maybe later this year.

💵 Startup Deals & Jobs

Deals

You love startups and want to enjoy a Spanish lifestyle? Come join the Spanish startup ecosystem. Here’s a list of recently funded startups:

Civitatis (travel) raised 100M
Amenitiz (proptech) raised 30M
SavanaMed (ehealth) raised 22M
Cafler (vehicle services) raised 5M
Libeen (proptech) raised 2.5M
Sateliot (spacetech) raised 1.5M
Assembler (edtech) raised 1M
Hotelverse (traveltech) raised 1M
Reveni (Fintech) raised 800K (including yours truly)
Unibo (fintech) raised 600K
Greyhounders (ecommerce) raised 500K
Datos101 (cybersecurity) raised 500K

Jobs

I hand pick Growth Jobs (Product & Sales, focused on Growth) from our portfolio companies and other great startups I think would be fun, high-upside places to work.

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Startup Riders