Transcript
Page 1: Is It Time to Hire a Startup CFO?

Sirk RohCOOEGFS

Is It Time to Hire a CFO?

#StartupCFO

Page 2: Is It Time to Hire a Startup CFO?

“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

Page 3: Is It Time to Hire a Startup CFO?

• What CFOs do• How CFO drives startup growth• When to engage• Outsourced vs in-house CFO

Presentation Overview

Page 4: Is It Time to Hire a Startup CFO?

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

Page 5: Is It Time to Hire a Startup CFO?

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.

Page 6: Is It Time to Hire a Startup CFO?

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.

Page 7: Is It Time to Hire a Startup CFO?

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

Page 8: Is It Time to Hire a Startup CFO?

Finance Infrastructure Options

Page 9: Is It Time to Hire a Startup CFO?

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

Page 10: Is It Time to Hire a Startup CFO?

Thank You and Q&A

Sirk Roh

[email protected]

www.earlygrowthfinancialservices.com

Follow us @EarlyGrowthFS


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