The F Suite

Next week is The F Suite’s 2024 National Summit. We have lots of highlights planned – we’ll even be ringing the closing bell at the NYSE! – but we’re especially looking forward to the fireside chat with Alan Patricof, co-founder and chairperson of Primetime Partners, and legendary venture capitalist with 50 years of experience in the industry. He is also the author of the books No Red Lights: Reflections on Life, 50 Years in Venture Capital, and Never Driving Alone. In his keynote appearance at The F Suite's National Summit, Patricof will share his expertise on the crucial elements of success that he looks for when investing in companies, providing finance leaders with essential insights to propel their companies forward. Throughout the Summit, we will also be welcoming these featured speakers to the mainstage: Katie Royce, CFA, Chief Financial Officer at ZenBusiness Jeremy Hux, Chief Financial Officer at UPSIDE Foods Josh Marehbian, Chief Financial Officer at FabFitFun Paul Todgham, Chief Financial Officer at Greenhouse Software Special thanks to our Summit co-chairs: Evan Fein, Chief Financial Officer at TextNow and Global Chair of the The F Suite, and Nadia Ali, Chief Financial Officer at Midjourney. We’re less than a week away from this energizing, inspiring event… and we’ll be sharing many more updates in the days to come. #thefsuite #nationalsummit #agilecfo

In just one week I will be hosting the The F Suite National Summit CFO conference at the NYSE with Nadia Ali. We have lots of cool speakers lined up including Alan Patricof. There are still a few slots left for CFOs who want to join me. https://lnkd.in/g6B89WSa

CFOs are more than just bookkeepers. They're business strategists focused on connecting the dots across the entire organization. "I promise you, I'm not the queen of no," Sindy Wilson, CFO at Kickstarter, explains. It’s about "Yes, and" or "No, but" solutions: ↓ 1. "Yes, and" solutions Instead of outright rejecting ideas that don't immediately align with financial goals, CFOs can adopt a "Yes, and" mindset. This involves acknowledging the potential in a proposal and then collaboratively exploring how to make it financially viable. For example, when faced with a request for increased marketing budget, rather than saying "No," a CFO might say, "Yes, and let's look at how we can reallocate resources from underperforming channels to fund this initiative." 2. "No, but" solutions When a proposed idea truly isn't feasible, CFOs can still contribute positively by offering alternatives. For instance, if a department requests hiring ten new employees, the CFO might respond, "No, but we could bring on five full-time employees and supplement with contractors for specific projects." This approach demonstrates that the CFO is actively problem-solving and supporting the team's goals within financial constraints. By adopting these approaches, CFOs can shift from being perceived as obstacles to becoming valued partners in driving strategic growth. It's not about being the "queen of no," but rather the "queen of strategic resourcing."

Over the course of just 3 days in August, 80 members of The F Suite gathered for six different dinners in four different cities… all discussing the “Many Hats We Wear” as CFOs. That’s a lot of big ideas flying. Coast to coast, members explored questions like… ✔️ How do you balance being the HR leader and the finance leader? ✔️ As the organization grows, when’s the right point for the CFO to give up the non-finance teams? ✔️ When you’re wearing different hats, how do you structure and plan for compartmentalizing workflows?  ✔️ When the role of CFO intersects with the role of Chief Inspirer, how are you communicating the vision, and engaging the team in building it? Thank you to all the CFOs who joined us for these gatherings. There’s nothing like sharing some good food and good conversation with peers who just get it.  And a huge thank you to our member hosts for guiding these insightful conversations and going the extra mile to foster connections within the community: Luigi Testa, CFO at LinkSquares Jeremy Hux, CFO at UPSIDE Foods Chris Davis, CFO at Alma Haley Ludwigson, CFA, CFO at Cravings by Chrissy Teigen Dan Menudier, Vice President at Imply Hunter Bergschneider, CFO at Plume Clinic Events like these, with curated groups of peers so that conversation and connections flow, are part of what makes the F Suite community so valuable to members. Learn more about the benefits of membership here: https://lnkd.in/gskgvpTY

As a CFO, you're used to being the connective tissue of your company. But when it comes to an IPO, your role becomes even more critical – you're the quarterback of the entire process. Anu Subramanian, CFO at Bumble Inc., recently shared her insights on navigating the IPO journey. Here's what she emphasized: ↓ 1. Be the knowledge hub: Your comprehensive understanding of the company's financial history, market position, and growth trajectory makes you the living repository of its economic narrative. Leverage this unique perspective to shape a compelling IPO story that resonates with investors and aligns with your long-term corporate vision. 2. Manage the timeline: Craft a meticulous roadmap that balances aggressive goals with realistic milestones. Your ability to anticipate potential roadblocks and build in contingencies can mean the difference between a smooth journey and a costly delay. Remember, timing the market is an art form that requires both foresight and flexibility. 3. Focus on the trifecta: Transform your people, processes, and systems into a cohesive, IPO-ready ecosystem. Invest in upskilling your team, streamline financial processes for public company scrutiny, and implement robust systems that can scale post-IPO. This creates a foundation that extends far beyond the offering day. 4. Provide clear vision: Inspire and align diverse stakeholders towards a common goal. Develop a compelling narrative that connects each participant's role to the broader IPO success, fostering a sense of ownership and purpose across the organization. - - - CFOs, what strategies have you found most effective in preparing your team, processes, and systems for the long-term demands of being a public company, beyond just the IPO event itself? We’ll discuss this topic (and more) at the 2024 F Suite IPO Conference. Event link in comments.

For CFOs, the mantra "grow at all costs" has become obsolete. Malvin Hoxhallari, CFO at Apollo.io, offers a fresh perspective on achieving efficient growth that resonates with the current economic climate. "Some bets will be singles or doubles. Others are going to be home runs," Hoxhallari notes, emphasizing the importance of a diversified approach to growth initiatives. The key, according to Hoxhallari, lies in carefully curating a portfolio of strategic bets rather than throwing multiple ideas at the wall to see what sticks. This approach allows companies to: 1. Align each initiative with long-term strategy 2. Set appropriate capital constraints 3. Balance risk and reward By adopting this method, CFOs can: • Navigate current market dynamics more effectively • Instill confidence in investors • Drive sustainable growth For CFOs at high-growth startups, this means shifting from a "try everything" mentality to a more focused, strategic approach. It's about making calculated bets that have the potential to yield significant returns while maintaining financial discipline. How do you balance the need for rapid growth with maintaining financial discipline in today's economic climate? What specific strategies have you found effective? Let us know!

For the CFOs and aspiring CFOs out there, The F Suite jobs and recruitment newsletter just dropped! (link to the email in the comments) Some Opportunity highlights: —CFO @ Public Clinical-Stage BioTech Company  —Head of Finance @ Series A ($200M+) AGI Company  —CFO @ Series D ($90M+) SaaS Company  —VP Finance & Operations @ $1B+ AUM VC Fund  —CFO @ PE-Backed Data/IT Services Company ...and so much more. #Fsuite #cfo #jobs

The best CFOs know bad news ages poorly. “Communicating with your board is like navigating a relationship with your spouse,” explains Eric Vishria, a General Partner at Benchmark. The Art of Board Communication: ↓ 1. Honesty is non-negotiable. Be transparent, even when it's uncomfortable. 2. Good news travels fast, bad news should travel faster. Don't sit on problems. Address issues head-on and early. 3. Don't just state facts, invite dialogue. Present options, seek input, and engage in meaningful discussions. In today's volatile market, laying out different scenarios is crucial: "We looked at a 20% growth plan that generates 10 points of margin, and a 15% growth plan with different outcomes. Here's our recommendation and why." This approach: • Leverages the board's expertise • Demonstrates thorough analysis • Invites valuable feedback Remember: Boards don't respond well to being mere spectators. How do you actively engage your board?

Earlier this year, The F Suite merged with the Seattle Tech CFO group, and welcomed more than a hundred new CFOs to our community. And we were fortunate enough to meet a few of you face to face at our latest Seattle dinner, last week at the Capital Grille. The dinner was hosted by no other than Evan Fein, CFO of TextNow, Global Chair of The F Suite, and an extraordinary connector of tech CFOs – Evan founded the Seattle Tech CFO group and has been instrumental in guiding the merger with The F Suite to form the largest network of senior CFOs in tech. Huge thanks to our sponsor for the evening, Summation, and sponsor speaker Ian Wong, Summation's co-founder and CEO. Evan and Ian guided the group in an engaging conversation around "The Many Hats We Wear," exploring how CFOs are navigating the increasingly broad scope of their roles, from legal and HR to IT, procurement, business development, and sales. Great to see you there: Aaron Martin, formerly CFO at Hiya Derek Schlicker, CFO/COO at BetterComp Fabien Mousseau, CFO at Truveta Joe Silver, CFO at Submittable Judd Lee, CFO at BrightEdge Lindsey Drake, CFO at GeoComply Michael Wang, VP Finance at Pachama Robert Madel, CFA, Head of Finance at BRINC Ryan Schafer, CFO at TCS World Travel Scott Javor, formerly CFO at DTG Recycle Sean Morishige, CFO at Tectonic Audio Labs Suresh Krishnaswamy, CFO at Leafly Wei Wang, CFO at Cequence Security We couldn’t be more excited about all the great developments ahead for this community… looking forward to next time! #thefsuite #seattletechcfo

What sets a top-performing CFO apart? In 2024, high-growth tech companies, innovative public companies and venture funds face unique challenges, which require a unique caliber of leader to navigate. At The F Suite’s 2024 National Summit, we’ll explore the topic of “The Agile CFO: Mastering Complexity in Modern Leadership” — and take a deep dive into everything that being a next-level CFO at a disruptive company requires. First up on the mainstage, we’re happy to introduce our featured speakers for the panel “Balancing the Unbalanced: Navigating Nuanced Demands”: Jeremy Hux, Chief Financial Officer, UPSIDE Foods Josh Marehbian, Chief Financial Officer, FabFitFun Katie Royce, CFA, Chief Financial Officer, ZenBusiness Pedro Bermeo, Partner, Davis Polk & Wardwell LLP This expert panel will discuss the crucial role that CFOs play in managing conflicting priorities while contributing to the broader vision. This year’s 2024 National Summit takes place Sep. 12-13 at the New York Stock Exchange and is open by invitation only to F Suite members who are CFOs at high-growth companies, public companies and venture funds. Learn more:  https://lnkd.in/gWi5v8Jh