Jun 1 2021

The Big Dip | June 2021

Ryan Edwards-Pritchard

A monthly guide for founders & finance teams

Hey everyone,

And welcome back to Cape’s ‘Big Dip’ newsletter, where every month we deliver you a snack-sized selection of the biggest stories, longer read blog posts that dive into the burning issues in the industry and more.

Bon appetit, we hope that you enjoy what we’ve been cooking up 🧑‍🍳!

🔥 Introducing… The Good Money podcast 🎧

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Critical thinking doesn’t need to be written, or boring. Which is why we’re excited to announce the launch of a brand new show brought to you by Cape 🤩!

In this 8-part series, we're lifting the lid on some of the world’s most exciting, fastest growing companies. We explore what makes finance teams & CFOs successful and how finance can be an effective business partner for growth - just as vital as sales and marketing.

Be sure to follow us on Linkedin where we'll be announcing the launch of the first Episode later in the week!

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Be sure to:

👉 Subscribe on your chosen audio channel

👉 Let your friends know about The Good Money

👉Share on social media, don’t forget to tag us on Twitter and Linkedin.

We’d love it if you could share our episodes on social media, or even shout out (don’t forget to tag us - @hellocape on Twitter or Cape on Linkedin)

🙌 Cape in the news 🙌

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Lessons launching an Australian fintech in a pandemic

ICYMI check out the story of travelling 10k miles 🌏 to launch Cape 🚀.

Tried to provide insights & advise 👇👇👇 for all those looking to break into the Australian startup space, covering:

🧑‍💻 Getting to know the local ecosystem over at Fishburners.

🏢 Grabbing some free desk space at Sydney Startup Hub.

🛂 The journey to securing your Permanent Residency through the Global Business & Talent Attraction Taskforce.

🧐 Navigating your way through the ASIC regulatory sandbox.

🏦 How to secure your first bit of funding through the NSW Treasury MVP Grant.

🔦 Choose the spotlight topic for the next newsletter 🔦

Get your say with what you’d like us to cover next by clicking on one of the options below:

👉 What is and isn’t an allowable business expense?  👈

👉 A guide to everything your business needs to know about invoice management 👈

🧪 Recruiting Beta testers 👷

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As a team, we’re on a mission to design the first corporate card to help companies spend less. Appreciate that this might sound simple, but incredibly it’s not. The modern day incentive mechanisms built into credit cards are trying to get you to spend more money so that you can get more of their rewards points. Sound familiar huh?

What’s more, building and running a startup in the pandemic, the number one priority we hear back from founders time and again is the need to cut their burn rates, ensure they can make payroll and to help them get access to tools to help drive top line growth as much as possible.

In terms of our backgrounds, as a bootstrapped team, we’re painfully aware of the costs associated with building a startup! Pulling discounts and free trials together was the only way we could actually build Cape.

Cape’s Alpha app

We’re busy defining and creating a truly digital SME bank that our customers will love. Which is why we need your help. We’ll be rolling out the red carpet with a concierge service to ensure you get more ‘bang for your buck’ by helping you save money on everyday subscription services.

We’re going to peel back the curtain and give you a sneak peek of what we’ve been busy building as we provide our community members first access to the Alpha Cape App.

What’s on offer with the Alpha Rewards program?

We've partnered with everyone from Amazon Web Services, Stripe, Google Ads, Canva, Hubspot, Zendesk & many others to provide you with access to free trials, discounts & cashback on services and products that founders and finance teams need to use to build and run their business.

Over the past 6 months we’ve carefully crafted Cape’s list of partners which will ensure everyone joining as a tester of our Beta program can get access to over $100k worth of credit and savings from the moment they join.

Sign up

Check out this link to get first access to the Cape App

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Updates we’re following that we think you need to know

💼 2021 Federal Budget

Recovery was the order of the day at this years Budgets announcements, with a particular focus on a suite of policies to help keep businesses doors open and to keep vulnerable workers employed.

What this means to you

Take your pick, there was a number of changes that you need to aware, from:

  • Superannuation increases as an employer 👉 LINK
  • Extensions to temporary full expensing 👉  LINK
  • A Digital Economic strategy to be put in place with business tax cuts to create jobs 👉 LINK

📉 Why most startups fail, and how to avoid a similar fate

Speaking of take your pick, market conditions, bad ideas, or just darn “bad luck”. Is there a secret sauce out there for startup success?

What this means to you

Well, to quote Donald Rumsfeld, ‘there are known knowns’, ‘known unknowns’, ‘unknown unknowns’ and unfortunately my friends ‘unknown knowns’ e.g. the stuff we’d rather not want to know/deal with.

And thankfully Martin Zwilling has done a great job of outlining the ‘known knowns’ in the most common causes of startup failure, the problems with each and tips to tackle them. Also worth checking out this framework for unearthing some of those ‘unknowns’.

🏠 There’s no place like home (office)

As the Victorian state entered back into a lockdown on Thursday, its clear that we’re not quite out of the woods yet from the lasting effects of the pandemic & its back to the home office we all go.  

One not so positive aspect of WFH highlighted in a recent study from the Wallstreet Journal was the impact your home office is having with bending our bodies out of shape.

What this means to you

There’s no better time to shake things up to stay healthy, positive and productive. From planning the layout of your working environment, to nailing your sitting position, to ergonomic mechanical keyboards & mouses, that’s not to forget your rolling mat. There’s a lot to consider here folks 😅!

AND FINALLY

🪓 Life hacks to tackle career burnout

Life can be tough. And the choices we make can make it even harder than it needs to be. Not a magic wand to all life's woes, but be sure to check out these 7 Burnout coping strategies that take five minutes or less.

What this means to you

Play. Laugh. Sleep. Dream. Bring joy to your home office 🪴.

For anyone looking for some extra reading material, can highly recommend Greg McKeown’s book Effortless. Game changer.



📣 Don't keep it a secret 📣

If you enjoyed this, please consider sharing with a friend! If this was sent to you by a friend, then be sure to not miss next months Big Dip by signing up here: 👉 hellocape.com/the-big-dip 👈

Thanks for reading Cape’s Big Dip monthly newsletter. Not a subscriber? Be sure to sign up here.

Anyone else wondering how it’s already the EOFY??


🏁 Well, that’s it for May! We’ll be back next month with more updates.

Have a great week everyone,


Ryan

Co-Founder, CEO

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Never miss a beat by subscribing to The Good Money pod here

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