The Founder's Journey
Every business journey is full of milestones, from that first spark of an idea to the final exit. We guide you step-by-step, breaking down complexities and using your financials as a roadmap to success. You don’t have to walk this path alone—we’ll make sure you’re prepared for each leg of the journey.
Success is a journey, not a destination.
ARTHUR ASHE
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MILE MARKER 1:
Are You Playing a Game You Can Win?
Your journey starts with your story—one that shows what you’re building and why it matters. Make it clear why your idea is both innovative and profitable, not just for customers but for potential investors, too.
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Consider your industry’s unique challenges and opportunities. Do you have the resources and knowledge to succeed? Align your industry choice with your business goals, keeping in mind the costs and cash flow that will come into play.
Finally, secure your capital. Whether self-funded or backed by investors, having a clear plan for your finances is essential to transforming your idea into reality
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When setting out on a journey, do not seek advice from someone who never left home.
RUMI
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Travel isn’t always pretty. The journey changes you, it should change you.
ANTHONY BOURDAIN
MILE MARKER 2:
Do You Have Product Market Fit?
Product Market Fit happens when your product or service truly connects with your target market. It’s not just about sales, it’s about value. When your customers love and recommend what you offer, you’ve reached a crucial milestone for sustainable growth.
Gather feedback, make improvements, and track how well you’re attracting and retaining customers. Product Market Fit is about proving there’s a real need for your product—and that customers are willing to pay for it.
Achieving this fit is key for attracting investment and showing that your business has serious growth potential.
MILE MARKER 3:
Profitability
Profit is when your revenue surpasses your expenses. While you may not be profitable early on, having a path to profitability is crucial for long-term success. Boosting profitability can involve increasing sales, adjusting prices, or cutting costs to improve your margins.
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Monitor key financial metrics like gross margin (40%-90%), operating margin (10%-30%), and EBITDA (20%-30%). Accurate reporting is essential to understanding your true profitability. It is important to note that if you aren’t compensating yourself at market rates, your profitability might not be as strong as it seems.
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Accomplishments will prove to be a journey, not a destination.
DWIGHT D. EISENHOWER
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All journeys have secret destinations of which the traveler is unaware.
MARTIN BUBER
MILE MARKER 4:
Do You Have Cash Runway?
Cash runway determines how long your business can keep running with its current cash reserves. Aim for 12 to 24 months of personal reserves and six to 12 months for your business. A solid runway reduces stress and ensures smooth operations.
Without enough runway, cash flow issues can quickly escalate into operational and legal problems - as well as cause intense stress for you. That’s why we focus on managing cash flow from the beginning, so you’re not caught off guard by unexpected financial challenges. And, so when financial challenges arise, that we work through them together.
MILE MARKER 5:
Are You Properly Compensated?
Many founders sacrifice their own pay early on to keep the business afloat. However, it’s vital to ensure you’re compensated fairly for your role - or fear about your finances can strip you of joy along the way. It also doesn’t accurately reflect your business’ profitability and cash flows.
So, start with a salary that matches what you’d pay someone in your position and increase your compensation as the business grows. Your compensation should align with your personal goals and long-term dreams. Feeling valued in your work boosts both personal and professional satisfaction, contributing to the overall success of your business.
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The journey is the reward.
ROBERT LOUIS STEVENSON
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Sometimes it’s the journey that teaches you a lot about your destination.
DRAKE
MILE MARKER 6:
Are You Working On or In the Business?
In the early stages, you juggle working in your business (day-to-day tasks) and on your business (strategy and growth). As your company matures, it’s essential to shift focus to big-picture strategy to ensure growth and scalability.
This shift involves building processes, hiring the right team, and stepping back from daily operations. It’s a challenging, but necessary transition for creating a business that can run without you, which is key to long-term success and exit planning.
MILE MARKER 7:
Are You Happy With Your Growth?
Business growth is exciting, but challenging. It can involve increasing volumes, raising prices, expanding into new markets, or developing new products. Each path requires careful planning and monitoring to meet your growth goals.
Growth isn’t just about hitting numbers, it’s about building something meaningful that aligns with your vision. Celebrate successes, address challenges, and keep your focus on sustainable progress.
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Learn to trust the journey even when you do not understand it.
LOLLY DASKAL
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Not everyone will understand your journey. That’s okay. You’re here to live your life, not to make everyone understand.
BANKSY
MILE MARKER 8:
Are You Prepared for Exit?
Whether you want to become an advisor, sell while staying involved, or make a full exit, planning is essential. An exit requires a tremendous amount of data collection and review, streamlining operations, building the right team, and collaborating with experts to ensure a smooth transition.
At Ablaze, we start assisting with exit planning in Stage 4—Strategies and Insights—once you’ve hit key financial milestones. Proper exit planning prevents costly mistakes and helps ensure you get the value you deserve from your business.