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Lessons Learned From 500+ B2B Start-UPS with Sam Strasser
Manage episode 335786493 series 2802476
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Sam Strasser founded Treasure Financial, a cash management platform that helps businesses transform idle cash into revenue. Many companies, even famous, large companies, make up to 80% of their revenue not from selling products or services but from taking money out of their treasury and investing it. Still other companies, though, don’t have enough money for a month’s worth of runway. Sam explains how small companies can use what cash they have the way big businesses do.
Risk, Sam explains, is part of any monetary transaction, and the key is embracing it, or at least mitigating the risks. Here Sam discusses what those myriad risks are.
Join Brendan and Sam to hear the greatest lesson Sam says he learned thus far, the most fun thing about building any company, and why he wishes he’d opened his business in the UK.
Quotes:
“The treasury department itself is really responsible for managing risk, and managing the broad scale for the financial resources for the company.” (2:37-2:44 | Sam)
“GE was notorious for a lot of the things they’ve done.” (6:23-6:26 | Sam)
“Every company should be able to maintain at least three months of their runway in a cash reserve of some kind. During the pandemic close to 600,000 companies went out of business and the majority of those had one month of runway.”(9:36-9:56 | Sam)
“You really want to understand how much risk you can accrue before it starts affecting certain possibilities.” (15:35-15:42 | Sam)
“You’re never really spending money when you’re swiping cards. You’re swiping for debt. It’s just a series of obligations and risks in a giant chain.” (17:43-17:53 | Sam)
“I have no idea why anybody glorifies becoming a founder, it’s one of the most difficult and painstaking things you can do.” (39:48-39:56 | Sam)
Connect with Brendan Dell: LinkedIn: https://www.linkedin.com/in/brendandell/ YouTube: https://www.youtube.com/c/BrendanDell Instagram: @thebrendandellTikTok: @brendandell39 Buy a copy of Brendan’s Book, The 12 Immutable Laws of High-Impact Messaging: https://www.indiebound.org/book/9780578210926
Connect with Sam Strasser:Treasure Website: https://treasure.tech/
LinkedIn: https://www.linkedin.com/company/treasure-ai/ Check out Sam Strasser’s recommended books:
- Keeping At It: The Quest for Sound Money and Good Government by Paul A. Volcker https://www.indiebound.org/search/book?keys=Keeping+at+it
- No Rules Rule: Netflix and the Culture of Reinvention by Reed Hastings and Erin Meyer
https://www.indiebound.org/search/book?keys=The+No+Rules+Rule
- Nudge by Richard A. Thaler and Cass R. Sunstein
https://www.indiebound.org/search/book?keys=Nudge
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