What Is Your Cash Runway?

Now that you know what is your cash burn rate, you may understand this post’s question.

Your Cash Runway is the amount of time your startup has before its cash balance turns into negative.

For example, if your startup’s cash balance is being reduced by $5,000 per month, and you have $20,000 as available cash, in 4 months your startup will be out of money.

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What Is Your Cash Burn Rate?

In this very beginning, the Cash Burn Rate is certainly one of the core financial metrics you have to keep in mind, all the time.

Okay, but what is it?

Well, basically, there are 2 different burn rates:

  • Gross Burn Rate: It’s the average amount of money monthly consumed to pay for your startup’s activities. In other words, it is how much money you are spending per month to pay for things like salaries, rent, energy, marketing, development, services, etc.
  • Net Burn Rate: It’s the average amount of money your cash is being reduced per month. For this metric, you’ll consider not only your expenses, but any revenues that you might have too.
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What Is Your Value Proposition?

When a customer is considering buying a product, she will start (consciously or unconsciously) relating its features to a possible benefit for her life.

Everything that can make her life better, she’ll consider as a value.

Well, your value proposition is all the value (in your customers perspective) you are delivering through your product or service.

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Who Are Your Customers?

Based on the interviews you did with your customers, you should have a good notion about who they are (and who they are not).

However, you need more than just a shallow knowledge about them. In other words, it’s not enough to tell me they are women, in their 30s with no kids.

This is a good start. But, if you really want to be able to properly answer this question you’ll have to do much better than that.

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How Do You Communicate, Sell And Deliver Value To Your Customers?

At this point, you already should know a lot about your customers and your Value Proposition. Now it’s time to define how you’ll communicate, sell and deliver your value to them.

Here we have some examples of channels:

  • Online sales;
  • Sales Team;
  • Own Stores;
  • Partner Stores;
  • Social Networks;
  • Mass Merchandisers;
  • Retailers;
  • Sales Rep-firms;
  • Distributors.
  • Others….
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How Relevant Is The Problem You Are Solving?

It is very likely that, in your own life, you’ve faced the problem you’re trying to solve—in your work, with your husband, your wife, your kids, your hobbies, etc. And for that problem, you didn’t find a good solution in the market.

Or maybe you are familiar with a bad situation that happens with other people and you feel compelled to help them with your knowledge on solving that issue.

So, you may know this problem quite well. Right?

However, when you decide to build a business based on a solution you’ve created to address a problem, it is not about you and your thoughts anymore. It’s about your customers’ lives.

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Redox: A Platform For Healthcare Vendors And Providers To Integrate Their Data – with Niko Skievaski [Ep#15]

How exciting it is to think about all the solutions being developed for the healthcare industry! The use of technology for measuring patients’ health, setting appointments, setting medication and improving patient’s overall experience are just a few examples of that.

However, to make all these improvements come true, healthcare vendors (technology developers) and healthcare providers have to overcome one significant barrier: to integrate their systems so patient data may be securely accessed and processed by these new applications.

Redox is a startup from United States that is focusing exactly on facilitating this integration, through a platform that serves as an effective interface, providing accurate data transfer between different systems in an easier and faster way.

In this 15th episode, Niko Skievaski told me about the development of Redox and how it evolved from just an idea into a platform that connects more than 450 health systems

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