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Ask a CFO: Episode 3 with John Fong, Founder @ F28 Studios

Picture of Yield Exchange   Yield Exchange  ·  1 minute read


Episode 3 of The Yield Exchange Advantage

Today we're bringing in, John Fong, a seasoned CFO with over 20 years of experience in building startups from inception to IPO, shared valuable insights on financial management and scaling ventures. He's now the founder of F28 Studios, where he gets to live in his passion of helping startups go the distance and reach life changing financial events.
 
This post highlights some of the highlights from our chat and the three key takeaways that provide actionable advice for founders and startup leaders.
 

Key Takeaways

1. Building Consistency of Healthy Habits:

John emphasizes the importance of establishing healthy financial habits right from the outset of a startup. This includes implementing regular reporting cycles, setting clear financial management expectations, and creating structured processes. These habits not only foster transparency and accountability but also lay a strong foundation for effective cash management as the company grows. By building consistency in financial practices early on, startups can better navigate funding rounds and scale their operations efficiently.

2. Seeking Experienced Support:

As startups progress towards significant milestones like IPOs, John advises founders to seek experienced support in the form of advisors or fractional leaders. Often times your founding team, while passionate, may not have enough "to take you across the finish line". These seasoned professionals bring valuable expertise and guidance, helping educate the leadership team on the intricacies of scaling and preparing for public listing. By leveraging the knowledge of experienced advisors, startups can navigate complex financial challenges with confidence and ensure they are well-prepared for the demands of being a public company.

3. Efficiency and People Management:

With growth comes the challenge of managing more people and resources effectively. John highlights the importance of supporting the people team and being mindful of efficiency in scaling. Startups should focus on growth strategies that are purposeful and avoid unnecessary overhead, leveraging technology where possible to streamline operations. By prioritizing efficiency and effective people management, startups can optimize resources and avoid potential pitfalls such as overstaffing or financial strain.
 

John had so much sage advice to give through his wealth of experience, which is why we recommend that anyone with even the aspirations of starting a business should take a listen!