The scaleup agency

Having procedures and relevant financial monitoring and reporting systems in place will give management the means to continuously evaluate internal and external factors based on relevant data. It is vital to be prepared for the possibility of a financial crisis or recession and to have a plan in place as to how to deal with such an eventuality. A continuity plan will help you to identify your critical processes and how to ensure continued operations if any of these processes are considerably impacted by a financial crisis.

A Growth Analysis can also help you identify what procedures and processes need to be implemented. Read more about our Growth Analysis. A continuity plan can also help Companies prepare for a future financial crisis and provide an overview of all the critical processes within the company. Read more about risk management.

For larger companies, this might be appropriate at any growth stage, while for smaller and medium-sized companies, it is more relevant later.  If you are in the scaleup phase, we always recommend bringing in an in-house solution or a full-time Interim CFO. During this phase, a market plan and hopefully a revised five-year plan are in place to guide the continued expansion. It is common practice to bring in external resources to support the existing CFO, e.g., a Business Controller or a specific CFO project. Read more about Interim Management or Executive Search.

As a company, you benefit from establishing financial structure and routines and being adequately prepared for every stage of development. Companies that proliferate tend to postpone setting up a finance department and hiring a controller and CFO too late. This expertise is critical if the company is planning to raise capital or implement significant structural changes. Your chances of attracting new and solid investors will also increase significantly. We are referring to this when we talk about structural capital and the importance of having financial know-how and prioritising the most crucial from a business perspective. The higher level of structural value, the more significant potential for growth! Read more about our Growth Analysis.

It can take time to assess the potential for growth of any company. Hence, we have developed a methodology called “Growth Analysis” to examine specific structural and organisational factors that we have identified as crucial for growth. The analysis shows where the company is today and what needs to be done to score high in these two areas (i.e. high potential for development). Scaleups often score low on the structural part and higher on the organisational. This indicates distinct and visionary leadership, low personnel turnover/sick leave, clear delegation of duties and responsibilities, etc. A lower structural level can mean that the company has fallen behind on the financial/structural side and lacks the right decision-making documentation and internal processes to develop effectively. Read more about our Growth Analysis.

Waiting too long to bring in critical resources can have serious repercussions. By having financial expertise early, a company can avoid many of the common mistakes and minimise risks. At the beginning of your journey, it is vital to have relevant budget/forecasts and cash flow analyses in place to assist you in making the right decisions. The scope can be adapted according to the company’s current situation and then scaled up as the company expands. If you are unsure about your BC/CFO support needs, we can help you by conducting a Growth Analysis. Learn more about Interim Management.

The need for CFO skills and expertise in a growing company will vary, depending on the company's stage. It is, therefore, advisable to utilise relevant and flexible CFO skills and expertise in the beginning. Going through a recruitment process can create problems; it can be very costly when you realise after some time that the CFO candidate you have recruited needs the right skills and expertise, or a suitable profile for the next stage of your journey. The advantage of bringing someone in on a contractual basis is that you can utilise specialists’ knowledge within prioritised areas when needed. You can then postpone the recruitment of an in-house CFO with a broader skillset until later in your company’s development, Interim Management or Executive Search?

This will vary depending on your line of business and size, but we can give you specific indications as to what our recommendations would be for each growth phase:

The startup phase

Create structure, bank relationships, financing, accounting, budgets/forecasts, reporting routines, etc. Examples of personal qualities: efficient, patient, structured and versatile (a generalist).

The scaleup phase

Fundraising, due diligence, IPO/new shares’ emissions, Board of Directors reporting, profitability analyses, sales statistics, and forecasting, etc. Examples of personal qualities: Communicative, business-driven, engaged and adept at delegating.

Market penetration and maturity phase

Global relations, mergers and acquisitions, restructuring, system changes and implementation, Group consolidation, etc. Examples of personal qualities: Leadership, business-driven and change management.

Identifying your Company’s needs depends on your phase. Consultancy services or hiring your personnel is crucial. We can match you with the right CFO through our extensive network of candidates. Read more about Interim Management or Executive Search.