I think I've used the word startup too loosely the last few years. I've always said I want to help startups launch. Very true. But what stage startups? Idea stage? Seed? 2 Years in? While I love being a team member from the start, for the most part early stage companies just don't need a CFO. And while I may be able to help raise capital, write a business plan, give feedback, my TRUE passion is actually helping companies grow. Real, tangible growth.
I've worked on clearly defining what traits a prospective client of mine would have. They can easily be summed up as the 2 cliche terms often heard in the startup world: "Execution" and "Traction".
1. Companies have to have executed. Site has to be up, some staff hired, product ready to ship.
2. Companies have to have traction. Read: Revenue. I want companies with proven business models, someone is willing to pay for your service or product. Everyone THINKS people will flock to them, but proof is in the traction in this case.
Overall I've realized the companies I enjoy working with the most are where there is a long term, ongoing Outsourced CFO role.
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