WATCH: When a StartUp Should Bring on Financial Talent

Stu Coleman, Partner / Senior Managing Director of WinterWyman’s Finance, Human Resources & Administrative team, shares necessary insights when you’re considering adding finance professionals to your early-stage company.

Transcript:

With a startup, the most critical position is all of them. Honestly, you have to look at what do you need right now? If you need some forward-thinking, analytical perspectives on things, bring on an analyst.

I think the level of staff for a startup is going to be, the first position: the CFO. That financial person also in the beginning is going to wear a lot of hats. They’re going to be doing Accounts Payable and Accounts Receivable.

My suggestion then would be very soon, sooner than later of course, bring in an A/P or an A/R.

When to Consider a Contractor:

What you need today in a startup environment, is probably not what you’re going to need six months and certainly not a year from now.

I would encourage people to use contract labor to solve both of those things.

How Important is Startup Experience?

Previous startup experience in a candidate or on a resume is a plus, but I wouldn’t call it a must. What’s more important is to look at the person, their energy, their excitement, their willingness to do whatever, whenever to get this company off the ground.

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