This is How Startups “Level Up” After Raising Money - Marc Suster (Upfront Ventures) Blog Post
May 23, 2014
Here's another well-written, articulate blog post from last month by Marc Suster of Upfront Ventures.
Startups that have raised a Series A or a Series B need to "level up" their management resoures. In particular, the CEO needs better leverage of his or her valuable and scarce to focus on strategic areas.
"Another obvious hire is thus a financial controller or finance director – preferably somebody with business planning experiences and not just an accountant. This allows a CEO to create a spreadsheet of expected activities over the next year but not spend the additional 8 hours perfecting and adjusting it. CEO’s need leverage.
"When you hire somebody really strong in this function you can also give her the task of creating your board presentations. The average CEO spends 8-12 hours (sometimes more) preparing for board meetings. What if that time could go intothinking through the companies most important strategic issues, talking early with investors about their views and adjusting the strategic discussion slides rather than the update deck?"