Dan Hully’s Post

𝗚𝗲𝘁 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗨𝗻𝗱𝗲𝗿 𝗖𝗼𝗻𝘁𝗿𝗼𝗹. 3 𝙨𝙞𝙜𝙣𝙨 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪𝙧 𝙨𝙩𝙖𝙧𝙩𝙪𝙥 𝙣𝙚𝙚𝙙𝙨 𝙖 𝙘𝙤𝙣𝙩𝙧𝙤𝙡𝙡𝙚𝙧: Identifying the right moment to hire a controller can be pivotal for a startup’s growth and financial health. 1 • Complex Financial Operations: As your startup grows, financial operations often become more complex, involving multifaceted transactions, regulatory compliance requirements, and the need for detailed financial forecasting and analysis. If you're finding it increasingly difficult to manage these complexities with your current team, it's a sign that you might benefit from the specialized expertise of a controller. 2 • Difficulty in Strategic Financial Planning: If your startup is at a stage where making strategic financial decisions, such as budget allocations, pricing strategies, or investment in growth opportunities becomes challenging due to lack of precise financial data or analysis, a controller can provide the necessary financial insights. They play a key role in strategic planning by offering accurate financial reports and forecasts that help in making informed decisions. 3 • Preparation for Scaling or Investment: If your startup is preparing for significant growth, scaling operations, or seeking investment, having a controller can be crucial. They ensure that your financial records are accurate, organized, and compliant with accounting standards. This not only helps in presenting your startup more favorably to potential investors but also lays a solid foundation for scaling your operations smoothly. At www.arightco.com, we provide expert Finance, Accounting, & Strategic Advisory solutions for IT and SaaS organizations. Offering endless scalability, allowing our services to grow with you from inception to exit. #accounting #accountingservices #linkedin #linkedinaccounting #startuplife #startupfinance #arightco

Unlocking Financial Success: Navigating Critical Aspects for Startup Founders Are you a founder at the helm of a startup? Is there a dedicated member on your team overseeing the financial intricacies of your business? How frequently do you revisit and update your financial plan? Does your financial strategy play a guiding role in shaping your HR and marketing plans? Are cash flow management processes effectively shaping the timing of your business milestones? In my experience, many founder teams in early-stage startups may not possess a robust financial controlling skillset. The realm of financial controlling encompasses various critical aspects impacting a business, including budgeting and planning, financial reporting, cash flow management, risk management, investor relations, and decision support. Recognizing the significance of this skillset is paramount! While hiring a full-time CFO may not always be feasible, collaborating with a fractional CFO to bolster expertise in these areas can yield a transformative impact. Strengthening these financial pillars can make a substantial difference in steering your startup toward success!

As a finance leader in a start-up, the pressure to deliver results can often lead to over promising and under delivering. 😫 This not only strains your team but can also damage your reputation. Here’s how to avoid this pitfall by managing expectations and prioritising effectively. Set Realistic Expectations: It's tempting to say "yes" 👍 to every request, but over promising can lead to missed deadlines and eroded trust. Instead, set realistic timelines that account for your team’s workload and peak periods like month-end or year-end. Prioritise Tasks: Not all requests are created equal. Focus on high-impact tasks that align with your strategic goals. For instance, month-end reporting and investor updates should take precedence over less urgent tasks. Utilise Project Management Techniques: Adopt project management strategies from your tech team to better schedule and allocate tasks. This helps in visualising your team’s capacity and avoiding over-commitment. Communicate Clearly: Transparency is key. If a task will take longer than expected, communicate this early to manage expectations. It's better to under promise and over deliver than the other way around. Build Trust through Consistency: Delivering quality results on time builds trust and reliability. It’s not about how hard you work but the consistent output you produce. By setting realistic expectations and managing your workload effectively, you can maintain trust within your team and across the business, ensuring sustainable success. #FinanceLeadership, #StartUpFinance, #BuildingTrust

Is your startup's financial strategy keeping up with its growth? Your financial management game needs to match your growth stage. Here's how to do it: 𝐏𝐫𝐞-𝐒𝐞𝐞𝐝 𝐒𝐭𝐚𝐠𝐞 ($𝟎 - $𝟐𝟓𝟎𝐊 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐞𝐯𝐞𝐧𝐮𝐞) 🌱 → Main focus: keep an eye on runway and burn rate → Reports: P&L, cash flow, balance sheet → Metrics: burn rate, runway, MoM % revenue growth, basic metrics (users, units sold). → Planning: cash flow planning → Financial team: outsourced/part-time CPA, Bookkeeper, CFO 𝐒𝐞𝐞𝐝 𝐒𝐭𝐚𝐠𝐞 ($𝟐𝟓𝟎𝐊 - $𝟐𝐌 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐞𝐯𝐞𝐧𝐮𝐞) 🌿 → Main focus: step up your financial tracking and planning → Reports: same as pre-seed + investor reports → Metrics to track: same as pre-seed + plan/actual analysis, LTV/CAC, retention, churn, MRR, gross margin, cost per MQL, sales conversion rates, marketing channels, monthly/quarterly KPIs → Planning: same as pre-seed + financial planning for various scenarios → Financial team: same as pre-seed + part-time financial planning and analysis manager 𝐒𝐞𝐫𝐢𝐞𝐬 𝐀 𝐒𝐭𝐚𝐠𝐞 ($𝟐𝐌 - $𝟐𝟎𝐌 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐞𝐯𝐞𝐧𝐮𝐞) 🌳 → Main focus: deep dive into financial analysis and strategic planning → Reports: same as seed + P&L by markets/regions, board reports → Metrics: same as seed + cost per MQL, CAC by channels, Unit Economics, CAC payback period, ROI, valuation, weekly/daily KPIs → Planning: same as seed + budgeting, strategic planning, sensitivity analysis, projects and ROI, unit economics → Financial team: same as seed + part-time/full-time financial planning and analysis manager, part-time CFO/in-house Finance Director 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐜𝐚𝐩 📝 → Pre-seed: keep an eye on runway and burn rate → Seed: get serious with financial metrics and planning → Series A: understand unit economics, strategic planning, and detailed financial reporting → Team evolution: start with outsourced and founder-led efforts, then move to specialized in-house roles Remember, your financial management should grow with your startup! 🚀 ————— We're financial experts for 𝙥𝙧𝙤𝙛𝙚𝙨𝙨𝙞𝙤𝙣𝙖𝙡 𝙨𝙚𝙧𝙫𝙞𝙘𝙚 𝙛𝙞𝙧𝙢𝙨. In just 12 months, we'll skyrocket your profits through razor-sharp financial insights—no gut feeling.

Back from vacation and ready for something new? Want to know more about Agile Finance and how this could transform your organization? Or curious to know more but don’t know where to start? Book a free call with me and let’s see how I can help you get started! https://lnkd.in/dSFrQxfR How would a free call look like? Here you can ready an example. https://lnkd.in/dyGntSuy

🚀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝗳𝗼𝗿 𝘀𝘁𝗮𝗿𝘁𝘂𝗽𝘀🚀 Charting your financial journey? We bring you key strategies for effective financial management tailored to startups. 💡 𝗦𝗧𝗥𝗔𝗧𝗘𝗚𝗜𝗖 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗣𝗥𝗔𝗖𝗧𝗜𝗖𝗘𝗦:  • Implement real-time accounting practices for instant financial information. • Strategically manage AP & Vendor relationships for cost control and operational efficiency. • Execute financial clean-up strategies, including Controller Review, to establish a solid foundation. 🌐 𝗧𝗔𝗫 𝗘𝗙𝗙𝗜𝗖𝗜𝗘𝗡𝗖𝗬 𝗣𝗟𝗔𝗡: • Develop and implement a strategic tax planning framework for maximum benefits. • Create a roadmap for seamless tax compliance to navigate complexities effectively. 🤝 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗦𝗧𝗥𝗔𝗧𝗘𝗚𝗜𝗘𝗦 𝗦𝗨𝗣𝗣𝗢𝗥𝗧𝗘𝗗 𝗕𝗬 𝗖𝗙𝗢: • Collaborate with a seasonal CFO for strategic financial planning, ensuring alignment with business objectives. • Implement CFO-supported strategies for successful equity and debt raises. 📊 𝗗𝗔𝗧𝗔-𝗗𝗥𝗜𝗩𝗘𝗡 𝗗𝗘𝗖𝗜𝗦𝗜𝗢𝗡 𝗠𝗔𝗞𝗜𝗡𝗚: • Leverage predictive budgeting for proactive financial planning. • Turn raw financial data into actionable insights with strategic data science analytics. Need help in implementing effective financial strategies? Let us help you get where you want to be.🚀 #financialstrategies  #startupsuccess #startup #startupbusiness #financeandaccounting

Building and Scaling Your Financial Dream Team: From Startup to Scale-Up The financial backbone of any organization is its finance team. For startups and growing businesses, building and scaling this team presents unique challenges. This article will equip you with the knowledge to navigate these hurdles and build a high-performing finance team that thrives alongside your project. The Foundation: Building Your Core Team Identify Needs: Before recruiting, define your initial financial needs. Will you need someone for bookkeeping, budgeting, or complex financial modeling? Seek Well-Rounded Talent: Look for individuals with a strong understanding of core financial principles and the ability to adapt to your specific industry. Don't underestimate the value of soft skills like communication and teamwork. Embrace Technology: Invest in automation tools for repetitive tasks. This frees your team to focus on strategic financial analysis and planning. Scaling Up: Growing Alongside Your Project Develop a Scalable Structure: Establish clear roles and responsibilities within your team. Consider cross-training to ensure redundancy and facilitate future growth. Embrace Flexibility: Be prepared to adapt your team structure as your project evolves. Temporary staff or consultants can fill short-term needs. Invest in Your People: Provide ongoing training and development opportunities to ensure your team possesses the skills needed to thrive in your growing organization. Building a Culture of Collaboration Open Communication: Foster a culture of open communication where team members feel comfortable sharing ideas and concerns. Collaboration is Key: Encourage collaboration between finance and other departments. This creates a holistic understanding of the company's financial health. Celebrate Success: Recognize and reward your team's achievements. This fosters a sense of accomplishment and motivates continued excellence. Building a strong financial team is an ongoing process, but by following these steps, you can create a team that empowers your project's success, from its initial stages to its full-scale potential.

Couldn't agree more, Eric O'Dell! Eric from Project Medtech's finance consulting team shared his thoughts on the needs of our medtech startup clients. Our finance group understands the critical role that clear, concise financial reporting plays in driving strategic decision-making. That's why we offer comprehensive bookkeeping and financial reporting services designed to empower businesses with the financial clarity they need to thrive. Reach out info@projectmedtech.com for more information on our startup and finance consulting services! #fractionalcfo #financeconsulting #startupconsulting #projectmedtech #bookkeeping #businessgrowth #financialreporting #investorstrategy

Foster #agility and collaboration between finance and Agile teams for strategic success. Discover how #LeanBudgeting transforms financial management: https://ow.ly/YKCe50QIfEm

Why Start-Ups or SMBs Need the FP&A Function?? 🤔 The Role of FP&A: 1. Strategic Planning and Forecasting: Deloitte survey: 82% of successful start-ups attribute growth to FP&A's strategic planning. FP&A anticipates future financial scenarios, aligning with business objectives, and identifies challenges and opportunities. 2. Budgeting and Resource Allocation: Harvard Business Review: Start-ups using FP&A outperform peers by 30% in revenue growth. FP&A strategically allocates limited resources, prioritizing spending and identifying cost-saving opportunities. 3. Cash Flow Management: 75% of start-up failures result from poor cash flow management. FP&A ensures effective cash flow management, providing insights into revenue timing and expenses. 4. Performance Analysis and KPIs: McKinsey: KPI-focused start-ups achieve 50% higher revenue growth. FP&A monitors KPIs, evaluating financial health and growth for data-driven decisions. 5. Scenario Analysis and Risk Management: PwC: Start-ups with scenario planning through FP&A are 50% more likely to survive downturns. 6. Agility and Monitoring: Ernst & Young: FP&A users react 40% faster to market changes. 7. Initial Financial Constraints: Startup Genome: 74% of failed start-ups cite poor financial planning. Despite limited resources, credible FP&A support is vital for start-up success. 8. Investor Communication: FP&A creates accurate financial reports. PitchBook: Such start-ups are 65% more likely to secure funding. 9. Adaptability and Agility: FP&A provides agile insights. Global Entrepreneurship Monitor: Agile start-ups grow revenue 37% faster. Conclusion: FP&A ensures start-up survival. As per Entrepreneur Magazine: 9 out of 10 successful start-ups credit FP&A. Flipcarbon: Virtual CFO, Financial Consulting & Accounting ServicesFlipcarbon: Strategy, Change, Consulting and Fractional CHRO