As startups scale, financial responsibilities that were previously juggled by a full-time employee, often the CEO, become untenable. Growing teams need to delegate their financial responsibilities in order to move the business forward, but can often feel overwhelmed about how to do so.
We’re excited to address this vacuum of information by partnering with Stripe Atlas to create a resource that can help finance leaders navigate these challenges. In the “Startup guide to hiring and managing your finance team”, Ramp’s co-founder and CEO, Eric Glyman, delves into exactly what startups need to do to establish a thriving finance function. This advice is based on Eric’s two-time founder experience and Ramp’s work with thousands of finance teams.
How our guide is helping businesses optimize their finance function
Eric explains crucial insights such as what to look for in your first finance hire, sample interview questions to help you identify the right candidate, best practices for building a team, and a hiring plan blueprint for your first four years.
Our key findings
Key findings from the guide include:
- Investment experience is being prioritized as a critical skill for job candidates: Due to the rise of venture capital, companies are reassessing hiring priorities and searching for candidates that excel at investor relations and building models, rather than just having a solid accounting background.
- Startups are increasingly relying on fractional CFOs as a solution: Owing to greater acceptance within the startup community and technology decreasing the cost of outsourcing financial resources, fractional CFOs are rising in popularity for many startups.
- Focus on hiring specialists as you grow: A team full of generalists is fine in the beginning, but once you reach five hires, it’s time to search for specialists.
- Building a remote team? Make sure to invest in payroll expertise: A payroll specialist who can manage the technicalities of making hires from different states and countries can save you a world of headaches and stress.
Check out the full guide
Download the full guide today.
Stefanie Gordon is a Senior Content Marketing Manager at Ramp. A former financial journalist and content strategist, she is excited to help Ramp develop new, engaging content.
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