Since setting up RORA I’ve been involved in about 150 startup finance teams 🤯 I’ve met some absolute superstars on the way, but also a lot of people muddling through making life hard for themselves Here are my top 5 mistakes I see over and over again 👇 ✅ No checklists A lot of finance is made up of repeating processes. You can't optimise and improve them if they're not written out and followed consistently every time 🔍 No structured review Again this is basic project management - if you don't get the basics right first you'll spend all your time unpicking errors later on 🤦♂️ Outsourcing the wrong things Bookkeeping can be boring, but that isn't the same as unimportant. It's the main product that the rest of the business uses. It's something you need to design and automate ✏ Wrong skill mix I see a lot of finance teams start with someone too junior or too senior. The mid operating level is way too often neglected 😶 No touch points with other teams Once you've got the basics right it's time to get out into the business - not only is this the most fun bit but it's where you can have the biggest impact, don't neglect it! Anything I'm missing?
Nailed it I reckon. Another thing I think is undervalued is championing the benefits of a strong finance team to senior decision makers in the business.
Hey Dan Hully love what I’m seeing about Rora online! Sent you a DM 🙌
Dan Hully As always 👌🏻
Spot on as usual Dan!
Founder at RORA, a new type of team doing work we care about with people we love 💜
7moProps to Henriette Rice for the wonderful office photography skills 😂