Do you have a business idea? Practical & financial considerations for start ups with Matija Kamikovski, CFA Artwork

beyond MD with Dr. Yatin Chadha

beyond MD bridges the gap between medical training and financial literacy.

Led by mid-career Canadian radiologist, Yatin Chadha, beyond MD empowers practicing physicians, medical trainees, and other professionals to build confidence and clarity around money.

Episodes feature interviews with subject experts to help listeners gain knowledge around topics like professional corporations, investing, insurance, pensions, real estate, trusts, and estate planning.

Yatin also frequently interviews his own colleagues to shed light on valuable life and money lessons learned over time.

Tune in to beyond MD (episodes are bi-weekly) to build your financial acumen and live your best life today.

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beyond MD with Dr. Yatin Chadha

Do you have a business idea? Practical & financial considerations for start ups with Matija Kamikovski, CFA

May 09, 2024 • Season 1 • Episode 70

Welcome back to beyond MD! Do you have an idea you want to bring to the world? If so, this episode is for you.

Today I sit down with Matija Kamikovski, CEO of Precision Finance. Matija has more than a decade of experience leading finance teams at start ups.

Discussion Points:
Matija's background in guiding startups (4:10)
Coming up with a sustainable business idea (7:50)
How to get data on the usefulness of your idea (10:25)
How do you know people will pay for your idea? (13:05)
Attributes leading to success/failure in entrepreneurship (14:45)
How do you actually get started? (17:59)
The financial metrics you need to track in the early days - cash, burn, runway (25:10)
Growth at all cost vs bootstrapped businesses (27:03)
How often should we track the financial metrics? (29:30)
Operating as a sole proprietor vs incorporating the business - set up, liability, tax deductions (30:30)
Budgeting, accounting, bookkeeping - guidelines & platforms (37:50)
When should a company start outsourcing tasks? (43:20)
Potential pitfalls of hiring to quickly (45:00)
The importance of sales (47:41)
Exit strategies (50:13)
What % of percentage of start ups fail? Don't let the thought of failure stop you (53:27)
Closing thoughts by Matija (55:12)
My perspectives

This episode features Arya EHR - https://www.aryaehr.com/

**I endorse only products/services I personally use or would use. Any income generated offsets the costs of running this podcast :)

Yatin:

Email: beyondmdpodcast@gmail.com
LinkedIn: Yatin Chadha

Matija: