This article, which is interesting reading, discusses how growing technology companies are getting ready for their next serious round of financing, which could include an IPO.
What I found interesting about this article is that many of these growing companies have been using Part-Time CFOs to guide them through their initial growth period, and that they are now ready for their first Real CFO.
Or, at least they think they are ready. But are they?
Having a Real CFO, especially for the first time, requires not only hiring the Right CFO. (See Dear CEO & Board: You can’t afford to hire the wrong CFO.)
The executives in the company, including the current CEO and other VPs, need to be ready for a Strong CFO. The leadership dynamics and the management relationships are going to change. Is your team ready?
My recommendation to CEOs, Boards and Investors: Make sure your team is ready for your new CFO.