Re:Startups.co to Acquire Zirtual, Service to Resume
by toomuchtodo on Wednesday August 12, 2015 @01:08AM
(#10046118)
> Do you currently report how much cash is in the bank and your corresponding runway to your employees?
The startup I work for does, and other startups provide this level of transparency as well. It's not hard, unless you're incompetent at communication and finance (but you shouldn't, right? because you're a founder/co-founder/leadership who has peoples' financial lives in your hands, because this isn't a game for people who need to make rent/mortgage payments every month).
"We have X in the bank, this is our runway, we have this many more months to be profitable or raise another round."
The startup I work for does, and other startups provide this level of transparency as well. It's not hard, unless you're incompetent at communication and finance (but you shouldn't, right? because you're a founder/co-founder/leadership who has peoples' financial lives in your hands, because this isn't a game for people who need to make rent/mortgage payments every month).
"We have X in the bank, this is our runway, we have this many more months to be profitable or raise another round."