He is the go-to man for these startups for issues in accounting and managing compliance, and he is also their sounding board for structuring plans.
What we need is a person who makes sure that the obvious things are being done and who can advise us on financial decision making," says Suresh Sambandam, co-founder of the company that provides a cloud platform to build applications.
For fractional chiefs, a big benefit of working with multiple startups is the ability to apply learnings from one startup to another.
How one founder was able to manoeuvre a roadblock, how a founder is setting the culture of the company, or something as fundamental as using a tool to facilitate team dynamics - these aspects are applicable across startups," says Masroor Lodhi, who works with nearly ten startups at any point in time.
You can consult and hand over a small part of finance to an expert, but aspects like negotiations and collections are best handled by the CEO or someone fully invested in the company," she says.
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