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From investor introductions to financial planning, forecasts to budgets, pricing to M&A support — a strong CFO will help your company grow. But how do you know if it’s the right time to make that hire? This presentation details what a CFO actually does, how CFOs helps to drive startup growth, when you should consider engaging a CFO -- and what you can do to keep yourself financially on-track before it's time to hire a CFO.
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Sirk RohCOOEGFS
Is It Time to Hire a CFO?
#StartupCFO
“Startups face a huge burden in today’s economy, often having to choose between funneling resources toward creating their goods and services or managing the often complex accounting, tax and financial strategy planning necessary to run a successful business.”
~ David Ehrenberg, Founder and CEO Early Growth Financial Services
• What CFOs do• How CFO drives startup growth• When to engage• Outsourced vs in-house CFO
Presentation Overview
What Does a CFO Do? • Business planning • Investor introductions and relations• Financial projections • Rolling cash forecasts • Annual operating budgets • Three and five-year plans • Monthly management reports • Pricing • Manage debt • Mergers and acquisitions • Equity and debt negotiations • Liquidations
How CFOs Help to Drive Startup Growth
• Identify strengths and your competitive advantage / target weaknesses
• Understand market opportunity• Create a portfolio of growth initiatives• Long-term thinking• Identify strategic partnerships• Assess management effectiveness• Maintain customer focus• Determine impact of growth initiatives on current
employees • Fundraising support: VC introductions, investor relations,
etc.
How CFOs Help to Drive Startup Growth
• Identify strengths and your competitive advantage / target weaknesses
• Understand market opportunity• Create a portfolio of growth initiatives• Long-term thinking• Identify strategic partnerships• Assess management effectiveness• Maintain customer focus• Determine impact of growth initiatives on current
employees • Fundraising support: VC introductions, investor relations,
etc.
When Should You Engage with a Financial Services Support Firm?
• Raised seed or convertible note round over $500K• Your company starts generating real revenue• Have professional or institutional investors• You have a lot of expenses or financial activity• Business complexity increases
Finance Infrastructure Options
Not Time for a CFO? What Can You Do Right Now?
• Keep it clean!Set up a simple accounting system that can grow with you
• Open a business banking account
• Separate business and personal finances
• Track expenses to monitor cash burn
Thank You and Q&A
Sirk Roh
contact@earlygrowthfinancialservices.com
www.earlygrowthfinancialservices.com
Follow us @EarlyGrowthFS
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