Rice: Startups Should Avoid Early CFO Titles and Outsource Executive-Level Finance
Angela Rice · The Key Man Discount: The Hidden Number Killing Your Company's Valuation · Jun 8, 2021 · at 23:28
Forensic accountant Angela Rice discusses startup compensation strategy and executive hiring with host Sean Weisbrot.
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“The CFO title is automatically going to have a premium attached to it. So I would really look at resumes where you can kind of get a good sense of someone's financial background, where they have financial analysts for a large company, and do they really know your industry? So not only are they bringing finance and accounting, expertise to your business, but they're also bringing industry experience. You don't necessarily have to call that position the CFO title because right there you're creating a premium for the position. You might want to bring it in as a financial analyst and then outsource some of the CFO level work to an outside consultant that is paid on an as needed basis or a retainer every month.”
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