What we usually see when a founder hires their first controller
By Chris Greco, Founder and President.
When a founder hires their first controller, they usually hire well and then ask the person to do CFO work they were not hired for: the forecast, the bank, the pricing decision. The controller does the close and improvises the rest.
The founder assumes the finance function is handled. The controller assumes the founder is making the strategic calls. Nobody is doing the forward-looking work, and the first sign is a cash surprise.
Keep the controller. Give them a CFO to work with, a monthly review, and a forecast they help build. Most first controllers get better fast with someone senior in the room once a month.
Chris Greco
Founder and President, CFO Anywhere. CFO for owner-led companies since 2002. Executive MBA, Gies College of Business, University of Illinois.
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