Jason M. Lemkin warns founders that small, visible perks (snacks, sparkling water, fancy desks) are not where startups typically lose money; instead most startups overspend via high payroll on low-efficiency hires and lack discipline in tracking burn. He recommends hiring an accountant or part-time controller with recurring revenue experience to regain financial control.
But those 10 or 15amonth all of a sudden all the money is gone from my fancy salary and my point is we lack most founders lack the frame of reference of the discipline and their gut doesn't tell them how much they're spending so they walk around the office and they're like wow I bought a desk from Ikea and like we don't have kind bars okay we have cheap coffee but who cares if you have cheap coffee if you're spending $200,000 a month on low efficiency employees and other issues right? That's not where you lose money we don't lose money on kind bars and sparkling water okay not with 30 employees. That's not what rex you so my point is most of us are wrong. We lose track of how much we're spending and we get in deep trouble and if nothing else find an accountant, a controller, even a part time controller. Here's what you have to do. They have to have recurring revenue experience.
