What Are Your Startup’s Key Activities?

Key activities are those activities that are vital for your startup’s business model to run successfully.

For example, if you’re offering a delivery platform focused on the elderly people, you’ll need to be excellent at managing the platform, executing logistics and educating your customers.

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What Are Your Startup’s Key Resources?

Your decisions about your business model will demand key resources to make it run successfully.

Accordingly to Alexander Osterwalder, these resources are:

  • Physical: machines, stores, buildings, vehicles, etc.
  • Intellectual: brand, softwares, patented products or processes, etc.
  • Human: professionals that bring an advantage for the company because of their knowledge.
  • Financial: cash availability that leverages companies business model activities.
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Book: The Startup Owner’s Manual – by Steve Blank and Bob Dorf

I bought this book many years ago and I’m still using it heavily.

First, if you don’t know Steve Blank, stop for a minute and check his blog. The guy is a startup guru and this book is #1 Amazon Title in “Entrepreneurship” category.

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How Will Your Startup Get, Keep And Grow Its Customers Base?

I bet you’ve been working hard on thinking about your solution design and features. Right?

But, what about your strategy to call customers’ attention towards your product or service? What about your plan to make them start and keep using it? And how will you make them buy more from you?

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Running Lean: Iterate from Plan A to a Plan That Works by Ash Maurya

It took me sometime to read this book because I thought it would follow much of the thoughts I’ve seen in The Lean Startup (Eric Ries) and The Startup Owner’s Manual (Steve Blank).

Indeed, once it is based on The Lean Startup methodology, Ash has naturally included its elements in Running Lean.

However, there are two elements that made this reading to be great.

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What Is Your Startup’s 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 Startup’s Cash Burn Rate?

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

Okay, but what is it?

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’s how much money you are spending per month to pay for salaries, rent, energy, marketing, development, services, and other expenses.
  • Net Burn Rate: It’s the average monthly negative cash flow. For this metric, you’ll consider not only your expenses, but any revenues that you might have too.
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