startup company essentials… money edition

what is up guys beard & bowler
so today is the money talk i hate the money talk
we have to have them semi-regularly but they’re probably our least favorite thing to discuss
they hurt they do
& in a marriage that’s like the number one thing that couples argue about
this is not a marriage though just to clarify in a business partnership why can’t you just
start there a business partnership
why do you have to go with marriage first because that’s the number one argument of
all couples & a business partnership is just like a form of marriage your work wife
you could have started there no i’m definitely not
he’s my work wife well money talk is awful but we didn’t want it to be just another talking
head so we wanted to add some color to it we wanted to make something interesting
so we’re going to Staples yeah this is way too long we’re gonna go to
Staples why don’t you come with us look at this look at this a whole new world
don’t you dare close your eyes get in the car [ music ] jason i have twenty minutes of you walking
in the store i can’t use any of this footage oh it’s back to school what do we need here
whiteboard it’s twenty five bucks i don’t want to spend twenty five bucks
i think that’s the cheapest one we’re gonna find at Staples
no you gotta know the secrets look maybe this one
it’s fifteen is that too small it’s cute
this is fourteen bucks bigger
this is bigger but smaller price
it’s a little more expensive well it would be good enough we just draw ’em small
good the beard guy’s good if we could have clear cut beard segments i have a notebook problem this is a blank canvas there’s nothing in here this could
be anything you wanted it to be i have like a collection of blank notebooks i have a notebook
problem we need to move we need to move #creativeproblems look at this look at this
that’s better let’s get out of here let’s go thank you [ music ] let’s talk finance [ music ] you threw my bowler
it’s all right buddy what is all this stuff so what you’re looking at is one year of expenses
or what it would cost to run a two-person production company & survive
survive not thrive survive not thrive this is what we need to
hit the bare minimum one year of operating expenses at the bare minimum both kind of
struggling along so we wanted to walk you through this really briefly first & foremost
is a base salary this is right now for one of us this is what a base salary is right
away a third of this you have to put off to the side because when it comes to small businesses
& the government they don’t want small businesses to succeed & so really when we talk salary
this is all the money that will actually be in the person’s pocket a third of it is gonna
be taken for tax purposes i’ve worked in nine to five for a long time
taxes never really bothered me i mean I saw how much they took out & i was like “Ah,
it hurts.” but i never saw the money in the first place
but when you have a business & you’re making a hundred dollars & the government wants
thirty at the end of the year it hurts it hurts
like you gotta do like five jobs just to pay the government
so the next category is actually it’s a fun category but it’s a really expensive category
this is our gear & tech category my favorite category
this is where you can go exponentially above & beyond what your budget actually holds
there’s always a new camera a new lens we need new computers this is the neverending
money suck but it’s a very essential & a very fun part of being the company what are
you doing you still on your phone just making sure we look good we look good
well it’s inevitable this guy
the last category this is my least favorite because this is the one that you cannot plan
for you know it’s there but it’s not the fun stuff it’s the stuff that you have to have
written out & written down i just wanted to bother you
your contribution because i know
your contribution is stop that because i know that uneven lines will just
like ah just leave it
like what if i were just like don’t i can’t just put it back
i think i crumpled these until i’m done anyway the other category is
the category that this is what we call incidentals now there’s a couple of things that are in
here subscriptions that you need for the year then there’s travel expense food in the office
we like to take care of the people that we work with & the people that work around
us & there’s a vlog coming about that being good to your neighbors as well
put it just don’t no my system & so there’s a lot of things that fall into this other
category but this you have to budget i’d say almost equal to what you’re spending here
because there’s always something in this other category that’s going to require a substantial
amount of money & so this is how much we need just represented in little paper ball
thingies this is how much a company would need a startup company would need to pay one
person’s salary for the span of about one year this is what it would look like & we
have to get all of this i would say right now how much of this do you think that we’ve
made what one ball he’s a little dramatic i think
so far if you’re counting all of these things this is how much we have we have nothing here
& this is what we have left but to better explain this i think we need to get a chart
so that was very upsetting
so how do we represent where we’re at right now how much we’ve & how much we need a
simple graph i like graphs don’t move it don’t touch it
does it have to be at an angle for you fine fine i hate you
would you like to come over on this side no yes just move now you’re in my way
see we’re very close alright so grand scheme of things here’s the
scale this is where we began this is where we need to get to be by the end of the year
Go-Al that’s a pretty big line
yeah how we’d like to measure this a little bit brand forward & let’s see nice smile
for let me show you how we’re gonna measure this this is where we’re beginning let’s put
the hash marks here just so we have a good measuring way i would say for the beard &
bowler boys let’s maybe put that up there b
what is that b&b 2017
b&b 201 triangle so for the b&b boys I’d say that we’re about
a third of the way to where we need to be now granted some of that was because of setup
some of that was because of the first couple of months we really spent our time figuring
out who we were we wanted to start with ‘why’ not just go get money & so our investor
understood that the people that we’ve got that love what we’re doing they’ve got into
it & it’s really paying off now the last four months are going to be a big push for
us so i’d say we’re about three notches down right
i’d say so let me just mark to about
oh i see what you’re doing you picking up what I’m laying down
i came up with the idea he was yeah you’re just being it was definitely
his idea all right so i would say in 2017 so far we’ve got to about right there this
is all the space we have to fill here all this right here is in the next four months
before 201 lesser carrot ends lesser carrot look does that make it better
hate you so much right now before 201 Chinese tattoo finishes
why why you said be as quick as you can i did it & he’s can’t i can’t spittle on the
board there’s spittle on no so that’s a lot to get done in four months you nervous it’s
okay I’m a little nervous [ music ] did you just cartoon gulp you’re not a cartoon character you gotta stop
i’m trying to save you time in post-production by not having to look for a gulp sound effect
i’m like partners with a animated character could i have said that more choppy
now that will require a lot of editing i’m partners with an animated character it’s

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One thought on “startup company essentials… money edition

  1. reality check 101….how about setting up a GoFundMe page? hmmm….seriously, let's talk guys. no charge. labor of love. believe in you. call me. peace – qb

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