Saturday Morning Coffee (#7)

I am so excited to share "Saturday Morning Coffee." In this weekly post, I will share, learn, explain, dream, and have fun. I will probably stop next week ;-) 

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I would like to send a huge congratulations to the founders of Monday on their IPO. And this week's topic is going to be about BUDGET. It is easy to understand but hard to execute.

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MONDAY'S IPO!!!

First, I want to congratulate Roy man and Eran Zinman for their IPO. Monday (formally dapulse) is one of the best B2B/SAAS/software created in Israel. We at @cheers use it on a daily basis.

I saw the product running at WIX and Conduit, and it blew my mind. At the time, Trello and Asana were the only products in the market. They came and created a product that makes sense. I was too scared to approach them to invest money eight years ago. 

The truth is that I didn't have anything to write this week. And suddenly, I've noticed a post written by Eden Shochat (partner at Aleph VC) about Monday's IPO. one of his learning from the Monday ride was, "When you raise a seed, manage your money well until product/market fit. I kept seeing 2.5 engineers whenever I visited daPulse, and every time Roy said, "I'm not sure we are ready yet."

Budget is the art of managing your money.

WHAT IS A BUSINESS BUDGET?

A business budget estimates an organization's revenue and expenses over a specific period and drives important business decisions. Businesses often use special types of budgets to assess particular areas of operation. In addition, budgets help companies understand start-up and operating costs and track performance.

BUDGET FOR DUMMIES

Stop buying things or hiring employees you don't need right now.

Stop buying things or hiring employees you don't need right now.

Stop buying things or hiring employees you don't need right now.

It's that simple

Bad examples I witness over the years:

• Renting an office for 50 employees when you have only 15.
• Hire employees when you only need them in 3-4 months.
• Buying 5X stock when you only can sell X.
• Spending lots of money on marketing when you know you are losing money on each lead.

And I can go on and on.

Manage your money right!

Look at your budget.

Take hard decisions.

It is much harder, but it will be worth it.

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As always, remember that if you don't like or share, an angel is losing his/her wings.