Setting up High-Performance Finance Team for Start-ups
Nov 7, 2023
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Learn how to create a high-performance finance team for start-ups. Topics include challenges faced by finance teams, the importance of self-reflection and operational understanding, and the changes in financial maturity as a company grows.
27:05
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Quick takeaways
Identifying operational demands and prioritizing key tasks to build a high-performance finance team for startups.
Balancing tactical and strategic approaches in finance organizations to provide strategic insights and contribute to broader business discussions.
Deep dives
Setting up a high-performing finance team for startups
Lauren Barr, VP of Finance at Occupier, discusses the key factors in building high-performance finance teams for startups. This involves self-reflection to identify operational demands, prioritize key tasks and build the team and tech stack accordingly. Barr emphasizes the importance of focusing on strategic initiatives and analyzing trends, allowing time for data analysis to bring value to the organization.
Defining high performance in a finance organization
Barr and the host discuss different perspectives on high performance in finance organizations. While table stakes include closing the books and paying vendors, A-level finance teams go beyond these basics to influence decisions and provide strategic insights to other departments. The balance of being tactical versus strategic is crucial in achieving high performance, allowing finance professionals to analyze data, identify trends, and contribute to broader business discussions.
Challenges in building high-performance finance teams
Resource constraints and time limitations are major challenges faced by finance leaders in building high-performance teams. Barr emphasizes the need for prioritization and ruthless focus on key tasks. Another challenge is finding the right talent who can handle a wide range of responsibilities in startup environments. As organizations mature, additional challenges arise, such as maintaining and scaling processes, bringing in specialized resources, and managing expectations for continued growth.
How do you create a culture of collaboration and success at a fast-growing start-up? In this episode, we sit down with VP of Finance for Occupier, Lauren Bahr and discuss how to set up a high-performance finance team that scales. We cover topics including challenges that start-ups face when it comes to building a high-performance finance teams and implementing the right tools and processes.
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