Accounting, taxes and financial ops for startups. Clarity to what matters most. 🎙 Receipts by OpStart on YouTube, Spotify & more
South Bend, IN
Joined February 2021
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Most founders lose a year to "planning mode." Tommy Flaim's advice after two startups: stop planning, take the first step, let the rest follow. 👇
Once you start, you stop waiting for someone to hand you a to-do list. Work creates more work. Inertia takes over, in a good way.18 months later, Tommy's at a $3.4M run rate. It started with just deciding to begin.Full episode 👇
youtube.com/watch?v=zeuAHUs_…
A founder scaled his business to a $3.4M run rate on $600K raised. He personally had $800 to his name the whole time.
That's not a red flag to investors. It's exactly the opposite. 👇
Founders who run lean with their own money tend to run lean with yours too. Tommy stretched $600K into a $3.4M run rate, proof he can make a dollar work.
That's the efficiency investors actually look for.
Full episode 👇
youtube.com/watch?v=zeuAHUs_…
Tommy Flaim scaled Silly Pickles to a $3.4M run rate in 18 months. He personally had $800 to his name.His last startup taught him why, the hard way. 👇
His first startup made him pay for everything (design, inventory, photoshoots) months before he earned a cent.
Silly Pickles flips that. Players pay before he ever pays for the courts. Same founder, opposite cash flow.
Full story 👇
youtube.com/watch?v=zeuAHUs_…
A VC told our first guest something we can't stop thinking about: Space might be the last truly uncorrelated risk left.
A hurricane wrecks Florida and ripples through every market on Earth. Space doesn't care. Nothing up there even notices.
So capital wants in, but nobody knows which company wins. Yuk:" don't bet on the rocket, bet on the financial rails under all of them. Everyone up there needs money and insurance."
He's building exactly that. Full episode 👇
youtube.com/watch?v=F7dOHRE8…
Most founders think insurance and underwriting are boring. Our first podcast guest changed my mind with one story.
In 1689, a London coffee house quietly invented the financial system we still run on today. 👇
Sailors there bet on who'd die on the next voyage, until someone realized the real money was insuring each other's journeys. That coffee house became Lloyd's of London.
Yuchi Chan is building that for space. Worth a listen 👇
youtube.com/watch?v=F7dOHRE8…
OpStart retweeted
Every startup needs 3 bank accounts:
1️⃣ Primary checking account that covers all operating expenses
2️⃣ Money-market account to earn interest on excess cash
3️⃣ Secondary account with a different bank in case of emergencies
OpStart retweeted
CJ’s newsletter is one of the few I read religiously. Highly recommend reading the below + subscribing.
TLDR on this post - Don’t chase rabbits while expecting elephant-level retention to justify a deer-sized CAC payback time
OpStart retweeted
You need a good bookkeeping & tax firm at pre-seed
You need a fractional CFO after seed, before Series A
You need a full-time CFO or VP finance around Series B-C
If you didn’t pay much attention to your startup’s income tax filing this year, read the below post 🔽
… then drop us a note so we can help you next year 🤝
OpStart retweeted
I created a free GPT for founders who need realistic benchmarks for financial metrics, fundraising milestones, and equity/comp packages
The bot is fed with my favorite online resources, plus some internal knowledge from @OpStartGrowth
Check it out: chatgpt.com/g/g-68dd78c32424…
OpStart retweeted
As the holiday season concludes, it’s important to remember that bonuses are usually taxed at a higher rate than salary in the US. Give raises, not bonuses.
Happy new year!
OpStart retweeted
Since many founders are rethinking bookkeeping & tax options this week, I thought I’d share my honest assessment of the competitive landscape.
DM me if you have more specific questions, will do my best to recommend the right provider.
We’re ready to help!
If you're part of the @Bench fallout... I'd highly recommend you check out @OpStartGrowth and @taxwire_inc