Startup Resources: Our Top 3 Startup Tools for Financials


This video was brought to you by us: Slidebean. Make beautiful slide presentations in no time. Get one free month by signing up
at slidebean.com/youtube. If you are new to this channel, my name is Caya. I am the CEO of Slidebean. We have an AI-powered presentation platform with over 10K users worldwide. Every month we spend around $20,000 in SaaS
products. Our landing pages, our servers, our accounting-
you know, the stuff you need to run a business. Many of the services we use, we adopted when
they were an early-stage company. They’ve not only become a fundamental part
of our business and our operations but growing with them; oftentimes, they are also our role
model. I figured we could share some of those platforms,
which I expect other startups and small businesses will also find useful. The big disclaimer here is that this is not
a paid video. We pay these companies, not the other way
around. We are highlighting them because we believe
you’ll find them useful, not because they paid us to do so. We are also not afraid to tell you where they
suck. Though if you’re watching… some t-shirts
from the team would be nice. OK, here we go These are our top 3 Startup Tools for Financials. Let’s start with accounting and Taxes. I am not a US Citizen. I’ve had a crash course in the US Tax system
in the past five years, and all I can say is it still scares the heck out of me. InDinero handles all our accounting and taxes. They have a software platform that connects
to your bank accounts, and to Stripe. So all our expenses are synced, classified
and rendered in that classic P&L statement. The cool part is, they handle your taxes-
end to end. Most filings are included with their plan,
and they can also handle select filings for an additional fee. In our case, for example, since I am a non-US
shareholder, some other forms are required. Their plans are based on how much your company
spends every month. We are currently on a $1,000/mo plan, with
an operation that’s around $1MM a year. Go watch my video on how much money we spend
at Slidebean. But the plans, I believe, start at $500 a month for smaller companies. It’s the only turn-key experience we’ve found
for accounting AND taxes, and I am all about turn-key stuff when it comes to things I don’t
know how to do. They have given us a 10% discount for anyone
that signs up with the link in the description or at slidebean.com/indinero. Now speaking of issues for foreign founders,
business credit cards. My lack of an SSN makes it really hard to
get a credit card for Slidebean. Even though we’ve raised around $800K and
have a good money cushion in our bank accounts, we couldn’t get a business credit card: just
debit cards. We had one or two, and whenever one was compromised,
we had to cancel, order a new one, and replace it in every single service. Most of the startup credit cards also require
some credit score- and this was all a mess until Brex came in. We love those guys. Brex works with foreign founders: a line of
credit is opened for you based on the balance of your bank account. You can issue virtual and physical cards to
all your employees, and control their expenses and their limits. What we’ve done is to create multiple virtual
cards for different categories of services. Like every credit card, you get rewards. Up to 7 points per dollar spent, and considering
most of our $20K SaaS services go through here; they add up fast. You can change points for frequent flyer miles,
or use them to book via their integration to TravelBank- so most of our flights end
up being free. More recently, they launched Brex Cash, to
which we had early access. They also function as a bank account now,
providing, wait for it- FREE WIRE TRANSFERS. FREE INTERNATIONAL WIRE TRANSFERS. We were really happy when this came out. Big fans of what these guys are doing, and
they are growing fast. If you want to try them out, they’ve provided
us with a link that gives you up to 50,000 in Brex points when you get your account set
up. That’s around $500. Just go to slidebean.com/brex. Next up is Stripe. This is where most of our money comes from. Well, from our customers, but through Stripe. We use the Stripe API to bill customers subscriptions-
they have a fantastic system that automatically takes care of discounts and prorates. Stripe is also a golden standard, so it connects
nicely to Webflow (where our landing pages are hosted), it connects to Zapier, and ChartMogul,
which we use for our revenue monitoring. Their fees are 2.9% + $0.30 for every transaction,
which might not sound like a lot, but well, it grows with our revenue. Still, even though we get the occasional pitch
for an alternative platform, Stripe is so well integrated we’ve never seen the value
in switching out. They also have a platform called Stripe Atlas,
that helps foreign founders get their legal stuff set up in the US. For $500 they file your incorporation and
open a bank account for you, again, a turn-key solution for you to begin using them for your
billing. Another tool we use every week is our Financial
Model. This is 100% free because we built it ourselves. It’s the spreadsheet that saved our company,
and that made us profitable. The 2015 version of this spreadsheet, with
actual revenue and expenses data for Slidebean- is available for a free download here. Our latest version of the sheet, with some
new features and touches, is included in our Slidebean Founders Edition plan, along with
tech support from our team to fill it up. We use the financial model to project, how much our revenue will grow based on our
marketing efforts, how much the team needs to grow based on our
user base, how many customers are renewing based on our
churn rate, and ultimately, how much money we are going
to make month over month. Predictable revenue is great- because it lets
us hire people and expand faster, because we can expect, with a good degree of certainty,
how much money is coming in every month. If I ever start another business, you can
bet that it will have some predictable revenue. So, once again, the spreadsheet is available
as a free download on our website- and you can also sign up for a Webinar on how to complete
some of the basics. That’s all for today. Thanks a lot for watching. See you next week.

8 thoughts on “Startup Resources: Our Top 3 Startup Tools for Financials

  1. This is brilliant! My start up ud already registered in Nigeria. But planning to register it in the USA as well.

  2. Dear Kaya, I am in UAE base I need to setup Stripe account I am also using 3rd party API in order to customize an offer for me they asked me to estimate the users download per month, if you have any answer how can I estimate please.

    Best regards
    Kimo

  3. Can you do a video explaining to us the structure of a board meeting and how often should we stay in touch with the investors as well as how often do you go over with them how the company is doing meaning monthly or quarterly, etc. Do you create a report for them all that fun stuff? Thanks and happy New Year!

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