Bhairav Patel on startup finance
From #7 - Bhairav Patel of Atom CTO · · The Hunter Bond Podcast
“You should ensure that you've got enough money in the bank for the first 18 to 24 months and then expect to raise after the next 12 months if you've managed to hit your sales targets. It's hard to create profitable businesses in this environment, so be patient and let the business go at its own pace.”
On , Bhairav Patel, Executive Vice President & Chief Financial Officer at CENTRESPACE, spoke about startup finance during #7 - Bhairav Patel of Atom CTO on The Hunter Bond Podcast.
About Bhairav Patel
Bhairav Patel, currently Executive Vice President & Chief Financial Officer at Centrespace, appeared on the Hunter Bond podcast in September 2022, where he discussed his experience as a CTO and managing director of Atom Ventures. He stated that most startups fail, with 97% failing within three years, and advised that startup life is suitable for those seeking broad learning but not for those needing security. Patel emphasized that technical debt is inevitable and should be tracked and addressed, and that CTOs must think strategically about business risks such as security audits and data encryption. Patel also commented on hiring practices, noting that managers should understand local challenges when managing international teams, such as power outages in South Africa or lightning storms in India. He cautioned against choosing "shiny new technology" with limited developer support, as it can hinder team growth. Patel described the CTO role as "the worst jobs ever," stating that CTOs are often unrecognized until something goes wrong, at which point they may be fired. He advised startups to ensure 18 to 24 months of funding and to let the business evolve at its own pace rather than forcing growth.