4 ms·
Hire CFO once making significant money ($1M/yr or so). Start hiring PMs as soon as you see that you can have two product teams working together in parallel.
by methyl 3y ago
Hire CFO once making significant money ($1M/yr or so).
Start hiring PMs as soon as you see that you can have two product teams working together in parallel.
- rdli 3y agoAt $1M ARR, I think a CFO is overkill (and hideously expensive). In my experience: - $0 - $1M-ish, hire a part-time bookkeeper - $1M - $5M-ish, get a director of finance / controller, who can manage AR/AP, audit, ASC 606, basic financial modeling, and your key rev benchmarks. - $5M+ is when I'd consider hiring a CFO, but it really depends on your growth rate. You can probably get to $10M+ with a good dir of finance if you get them to hire a good FP&A person.