Wednesday, October 29, 2008

Cool stuff coming

I have some very cool content coming to the site, hopefully by Monday. Will post all about it when it's launched. Stay tuned!

Saturday, October 25, 2008

Just launched:

Check out - just launched this last Tuesday, and it's taking off fast. Exciting site, addicitive even! 1 cent auctions on high end electronics, with 1 cent increments. The catch, each bid costs $1. So you buy a block of bids... pick your time to jump in and bid, and try to win. Auctions are ending at super cheap prices (Xbox 360s for a few dollars), so there's definitely deals to be had. Shipped from Amazon via UPS, it's a win win.

Sunday, October 5, 2008

The hunt for funding continues

I basically took a hiatus from looking for VC/Angel funding for my clients over the summer. It was going no where fast, and I wanted to focus on finding some top quality companies to work with as a CFO, and engage them in the fund raising process. No longer do I only help companies locate funding, I want to be involved beyond the task of "fund finder".

As such, here's my top tier roster of companies I work with as CFO who are trying to locate capital.

uBoast - - seeking $750K
InternetVoiceMail - - seek $1M (PPM in place)
Hot Home Network - - seeking $500K

Feel free to check them out!

Friday, October 3, 2008

So what do I do again?

My website / (links above) highlights more or less everything I do... but what do I really do, day to day?

If I had to slice it up -
30% of my time is spent with ongoing clients where I am acting as CFO. The current roster includes:
  • Paradise Publishers
  • Internet VoiceMail
  • Big Bang Names
  • uboast
I also have 2 potential ongoing CFO roles, one, one retail product.

20% of my time is spent on ad-hoc projects. One time projects for startups who don't need a CFO at all right now, but are in the process of establishing themselves. Typically business plans, financial forecasts, investor packages, and/or some combination of all of those.

50% of my time: marketing. Including looking for new places to market, sending out emails, talking with potential clients, placing ads, etc. I enjoy it honestly, and it's fun to see what works and what doesn't (note: ad in Entrepreneur magazine: expensive, and zero inquiries from it. Free ads on Craigslist: drive the most traffic to my site, creates the most leads. Go figure.)

What does the future hold? All of the 4 startups above plus the other 2 have amazing potential. A LOT of things are in the works for everyone, and I help them on driving towards taking off. It's only a matter of time, but one by one they will hit. That said, I see a big transition in 2009 to working much more with the companies I'm an ongoing CFO for, with any remaining time spent on marketing/ad hoc projects.

Thursday, October 2, 2008

Why there's a deposit on services

Note: This post comes on a day when I've decided that too much time is being spent chasing non payers, and honestly I was pretty ticked about it. Update though - sent out some collection notices, everyone, EVERYONE, who owed me either paid immediately or agreed to pay in the next week.

That said, I still think a stricter policy will help... here's the reasons for deposits, from my first hand experience:

1. I've had nothing but trouble collecting from people who put no deposit down. I didn't think it was necessary to get a deposit on something for only a few hundred dollars, yet time and again its these small project clients that balk at paying.

2. It gets the client involved in the project, now there's real money involved, and the client wants to see the project through.

So new policy -
Minimum project fee is $500.
Minimum deposit is $500.
Any projects over $500 requires a 50% deposit, with the minimum being $500.
All project fees, as always, are due immediately on completion. There are no terms.
Any unpaid project fees get sent to collection 30 days after project completion.

Seems like a jerk move, but honestly, we are all small business owners, and I need to be paid for my time.

Wednesday, October 1, 2008

I'm Back!

Hello everyone,

It's been all too long and honestly a lot of great things have been happening in the start up world. I plan to begin posting regularly with information articles for Start Ups, happenings in the startup world, and other misc. tidbits of information. Stay tuned!

Rogue CFO,
Chris Benjamin