$treet $marts: Don't hire a CFO until you have a product-market fit

$treet $mart$ (vol. 39)

Finance

In this 30-minute video from 2017,  Sarah Friar of Square and Jason Child of Groupon, share their insight on the Job of a CFO at a scaling company.

Pay particular attention to the 10-minute mark, when Jason Child shares his insight on "when to hire a CFO"

Jason essentially says that CFOs make bad entrepreneurs as do general counsels because they are often looking at how everything can go wrong.

Mind you Jason was the CFO at Groupon right after Google offered to buy them for $5.7 Billion. During his tenure as CFO, the company grew from $700 million in revenue to $4 Billion and went public.

Don't hire a CFO until you have a product-market fit. - Jason Childs

Truthfully, a great CFO is vital to becoming a larger sustainable company.  

But never forget that a CFO sees everything that can go wrong, while entrepreneurs see everything that can go right.

When you combine those powers well, it becomes a superpower.

Best,

Samson

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