Everything Caroline Moon said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Caroline Moon: Startups should build out finance early to increase success
“Finance now tends to be the last area that gets built out, but I would argue if you want to increase your chances of success, it should actually be one of the first.”
Moon: A bad VP of sales hire costs 18–24 months of runway
“To give you some more context, a VP of sales generally takes on average six to 12 months to ramp, and if along the way you realize you made the wrong hire, it takes three to six months to find a new VP of sales, and then this new VP of sales will take six to 1…”
Moon: Strategic finance could have saved $65M startup from shutdown
“A strong finance team would have understood that there were bad unit economics in play and help the company course correct before it was too late. And before they had to shut down completely.”
Moon: Strategic finance teams manage startup runway and KPIs, not just payroll
“At the core, a great finance team isn't about just doing the basics, and let's call those things payroll and tracking expenses and keeping track of the cash. They also do much more strategic things, like helping define and track the right KPIs to measure the b…”
A complex startup requires a finance team to manage its operating plan
“In the same way that complex products can really only be built with a strong product team and well-defined product roadmap, To build something complex, like an entire company needs a finance team to manage the company roadmap, also known as an operating plan.”
Caroline Moon defines accounting as a manual ETL process for financial data
“Accounting is just a word that we use to talk about a manual ETL process of translating the money that flowed in and out of your company, whether it's revenue, contracts you signed, invoices you've paid for or have to pay, or payroll, and into a mineable finan…”
Caroline Moon: Lumping conference expenses into one line item artificially inflates CAC
“So, if you have an inexperienced bookkeeper or accountant, they're most likely going to lump all the money you spent on conferences for that period into a single line item, which would then overstate your CAC.”
Caroline Moon: Founder CEOs need full financial fluency beyond tracking cash burn
“Founder CEOs should be fluent in all aspects of their business, and financial fluency is just as core as anything else a CEO knows, since their financials, and I don't mean just knowing cash burn, represent the state of their business and are something they sh…”
Moon: Startups under $10M revenue should outsource finance instead of hiring
“While it's still early, call it pre-revenue to up to about ten million dollars in revenue. And as long as your business model is not complex, use an outsourced full-stack CFO firm.”
Caroline Moon: Startups must evaluate outsourced CFOs like full-time executive hires
“You should absolutely assess them with the same lens you would use for a full-time hire, because the fact is they're going to be a key part of the team, only just for one to two days a week.”
Moon: Startups can outsource a full finance team for one junior salary
“Basically for the cost of one junior full-time position, You can get an entire outsource finance team from the CFO to the controller, to the FP&A analyst, all the way down to the AP clerk.”
Moon: Startups' first in-house finance hire should be a senior executive
“And when it's time to hire your first in-house finance person, make sure it's a pretty senior position like a VP of finance or CFO, as you want to build your organization correctly from the ground up and the head of that team should be the first hire and not t…”
Caroline Moon: Finance Teams Spot Working Capital Issues Before Cash Crunches
“A strong finance team would have seen the working capital issues well before they became a problem, and they would have worked with the business in order to figure out a good resolution between preserving their own cash and keeping their suppliers happy.”
Moon: Seed stage startups spend $1k–$5k monthly on outsourced finance
“Straightforward seed stage companies probably only need about one to two days a week from their outsourced finance team, which works out to between one to 5000 dollars a month.”