A CEO’S Guide to Your Startup Journey: Episode 5

We are now on the fifth episode of the CEO’s Guide to your Startup Journey, and the topics that we have covered in the past are resource management, setting up a robust infrastructure, talent management, and customer experience. In the final episode, Vikas Bhonsle, CEO, Crayon Software Experts spoke about the most important factor that determines the success or failure of a startup - Cash Flow Optimisation.

Various studies have stated that the reason why a startup fails is because they end up burning out their initial investments and funds before they turn profitable. Vikas, in this episode highlights how startups, with the aid of certain measures can optimise their finances in a manner that the investments last until they become profitable. 

Some of the things that startups can do to manage finances are as follows:

• Work towards automating tasks that are repetitive and need no human intervention, so that you can minimize your financial waste and help your talented employees focus on more valuable tasks.
• Stick to coworking spaces as compared to a swanky new office until and unless you can truly afford one.
• Try and maintain a passive income source for your company.
• Talent acquisition should be a very thoughtful process, as hiring unnecessarily and too rapidly will negatively impact the organisation, irreversibly harm the culture and will be burden on finances.