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Ask a CFO: Episode 2 with Growth Partners CFO, Jordan Hill

Episode 2 of The Yield Exchange Advantage

In this episode of The Yield Exchange Advantage, we chat with Jordan Hill, CFO and Founder at Growth Partners, a team of startup finance experts specialized in supporting startups with $1M - $10M in annual revenue.

With 10+ years of startup CFO experience, Jordan has successfully secured equity funding for various startups from seed to post Series B stages, and he joins us today to unpack all the that happen the moment you secure that big funding round. Growth Partners today has 12 people on the team and works over 40 startups, doing everything from financial modelling, technology automation, accounting and revenue scale ups. 

Key Takeaways

1. The Importance of Finance Support

Jordan says that it's critical for founders to prioritize having the right finance support, including fractional CFOs, especially as their startup scales beyond $1 million in revenue. This support helps in financial modeling, key metric analysis, and strategic decision-making. Without this kind of support, it can be tough to effectively manage relationships with stakeholders as your business grows.

2. Dialing in on Key Metrics for Growth

Startups should concentrate on key metrics such as revenue growth, customer acquisition, and runway calculations. While these metrics are common across different businesses, the way each startup calculates these things is completely different. The important thing is that these metrics provide valuable insights into the health of the business and help in making informed decisions for scaling ventures.

3. Continuous Improvement and Scenario Planning:

Founders should adopt a mindset of continuous improvement, constantly reforecasting and evaluating scenarios to ensure financial stability and longevity. Scenario planning, including worst-case scenarios, helps in maintaining a sense of urgency and preparedness in managing cash flow and business operations effectively. One of the biggest mistakes that Jordan see's in cash management post financing rounds is failing to forecast all the different ways that money could go, and not finding ways to maximize their idle cash.

This and many more golden nuggets of wisdom so take a listen at the whole episode below!