Budgeting Your External Facing Time as a CFO: Tipalti’s Sarah Spoja

Nov 25, 2024

Sarah Spoja, CFO of Tipalti and expert in private equity operations, discusses the evolving role of CFOs in high-growth environments. She explores M&A as a growth lever, emphasizing the importance of preserving company culture during mergers. Sarah highlights how CFOs can balance strategic oversight with hands-on work and the dual role of strategist and salesperson. With insights into investor relations and effective time management, she shares tips on navigating the complexities of scaling a startup, all while keeping the process engaging and lighthearted.

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INSIGHT

M&A Market Heating Up

Startup M&A is heating up, with smaller companies being acquired by larger, later-stage companies.
This is due to smaller companies struggling with distribution costs and larger companies wanting broader product offerings.

ANECDOTE

CFOs Buying Differently

Sarah Spoja discussed helping a smaller company in her tech stack get funding.
This highlights the shift in how CFOs buy, prioritizing stability and maturity.

ANECDOTE

Successful M&A Integrations

Sarah Spoja shared two M&A anecdotes, one from KKR/First Data acquiring Clover and one from Tipalti acquiring Approve.com.
These demonstrate how prioritizing culture and autonomy can lead to successful integrations.

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Sarah Spoja, the CFO of Tipalti joins CJ to discuss M&A as a growth lever and the evolution of the CFO role in high-growth environments. Drawing from her background in private equity operations at KKR Capstone, she shares insights on the current M&A environment and the boom she predicts for the near future. She also explains how to avoid crushing the soul of a startup in the M&A process and the value of getting your hands dirty in PE Ops. As the CFO of a rapidly expanding SaaS company, Sarah sheds light on how to evolve as the company scales. She shares how to reassess priorities, balance hands-on work with strategic oversight, and navigate external-facing demands like conferences and panels. The conversation covers building investor relationships while avoiding perceptions of always being in-market and highlights the CFO’s dual role as strategist and salesperson. From navigating M&A to solving problems across stages from seed to IPO, this episode is packed with insights.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:13) Sponsor – NetSuite | Operators Guild

(04:52) Sarah’s Experience in M&A

(06:13) The Current M&A Environment

(12:17) Field Sales Versus Channel Partnerships

(14:23) How to Avoid Crushing the Soul of a Startup During M&A

(19:30) Sponsor – Maxio | Leapfin | Mercury

(22:39) The Value of Getting Your Hands Dirty in PE Ops

(26:10) How Sarah Has Evolved During Tipalti’s Hypergrowth

(31:00) Balancing Hands-On Work with Making the Best Use of One’s Time

(34:40) Reassessing the ROI of One’s Time

(37:09) Solving Problems Versus Handling People Issues from Seed to IPO

(40:21) Repeating Yourself as a Job Requirement

(42:24) How Visible a CFO Should Be

(43:52) A Framework for Choosing Speaking Arrangements

(50:43) The Risk of Being Perceived as Perpetually In-Market

(52:01) The Job of the CFO as Sales

(55:15) Long-Ass Lightning Round

(01:00:21) Finance Software Stack

(01:02:15) Craziest Expense Story

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