The CFO plays a key role in the early stages of the startup.

Here are the key duties of the CFO:

The CFO develops and maintains the financial model for the business.

This often comes out in the form of a financial pro forma for the pitch deck and data room.

Investors want to know the startup’s proposed forecast.

They will review the financial pro forma to see if it’s a bottom-up model or a top-down.

The model also tells the investor how much the startup knows about their revenues and costs.

The financial pro forma should be complete enough to help make strategic decisions.

Also, the CFO manages risk in the business by tracking the cash runway, obtaining access to credit lines, and holding the right amount of insurance.

The CFO oversees the tax reports and compliance requirements.

Finally, the CFO can help management by providing key metrics on the business. 

The CFO doesn’t necessarily have to be a full-time employee but could be a fractional one.

Consider how a CFO fits into your startup.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.
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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.