Bare Your Financial Metrics to the World
How to Increase Financial Transparency
“OMG – You’re totally naked! I mean, your startup is totally naked!”
“Dude! We can TOTALLY see all your financial bits.”
“Hey, is that a gray hair on your cLTV?”
“No, you really need to join a growth hacking gym… Actually, with such high churn rate levels, you’ll probably end up in a startup accelerator sooner rather than later.”
“It was pretty brave of you to let it all hang out like that, by the way. We’ll give you that! Kudos, man!”
“Thanks for the support… Douchebags! Hopefully the shareholders and investors won’t take this the wrong way. I mean, we’re definitely not a bunch of flashers here or anything. Just a bunch of guys who believe in transparency.”
WHAT. Was. That. All. About? Read below to find out how you can hack your financial reporting.
Just Hack It:
- This hack calls for a disclosure: it may not grow your revenue straight away. Or, potentially, ever
- However, it’s not out of the question that it may contribute to revenue growth in some indirect way in the future
- It could even substantially do so depending on the startup that you have
- So, what’s all this commotion about then? Well, publicly exposing your financial metrics to the world is the new hip thing in Silicon Valley
- Now the real question is, are you brave enough to do the same?
- It does take some cohones to show your financials for all of the world to see. But then again, sharing is caring
- And what have you really got to lose? Unless, of course, you’re a growing startup and the whole ‘size matters’ thing bothers you
- However, it’s a good way to act as if you’ve already hit the big time
- Think of it as a roleplay for your eventual Unicorn club membership
- Now, if you could just get to $5k MRR before the seed money runs out then you’ll be well on your way!