#59 VC CFO / Finance Pro Changes in Q2: More Action

Hi Everyone! 👋 Welcome to the new members of @TheFundCFO crew!

Every Tuesday/Thursday, we bring you actionable tools, real-world experiences, and insider insights for #VC CFOs/Finance Pros and fund managers, #LP investors, and general industry enthusiasts/people who want to learn :).

“The main thing is to keep the main thing the main thing.” -Stephen R. Covey

Welcome to Q2’23! At the end of each quarter, we look back at the past three months, professionally and personally. What worked well (celebrate the wins!) and what didn’t? What can we change to make the next three months even better?!

As we reflected on our Top 5 Posts of Q1'23, Top 5 Posts of 2022, and Top Year 1 Posts, we keep seeing that our readers want action. That means some sort of tool, playbook, template, or insider insight. We’ll keep bringing that to you in Q2’23!

Programming note: we’re also shifting our publishing cadence to Tuesday / Thursday based on your feedback - thank you!

Key Action Items for Q2’23

As a venture capital CFO for 5+ years and a VC fund / company investor for 15+ years, I've identified some key action items that I believe are essential for success in Q2.

1. Review Your Q1 Performance: Before setting any goals for Q2, it's essential to review your performance in Q1. Take a close look at your financials, key metrics, and any challenges you faced. Use this information to adjust your strategy for Q2.

2. Set Realistic and Measurable Goals: Once you have a clear understanding of your Q1 performance, it's time to set goals for Q2. Remember to keep your goals realistic and measurable. This means setting specific targets that can be tracked and monitored over the next three months.

3. Communicate with Your Team: this is critical. Make sure to keep your team up-to-date on your Q1 performance and your plans for Q2. This includes any challenges you're facing and how you plan to overcome them. Transparency and communication will help build trust and confidence.

4. Cash Flow Management: Cash flow is king, especially in the early stages of any company, VC or portfolio. Make sure you have a clear understanding of your burn rate and budget. This will help you make informed decisions about your spending.

5. Evaluate Your Team and Resources: As your firm grows, your team and resources will need to evolve as well. Q2 is a great time to evaluate your team and resources and make any necessary adjustments. This could mean hiring new talent, reallocating resources, or outsourcing certain functions.

6. Focus on Growth: Finally, Q2 is a great time to focus on growth. This means identifying opportunities to increase deal flow, expand your investor base, or plan for launch new products or services. Remember to keep your goals realistic and measurable, and to focus on areas that will have the most significant impact.

In conclusion, Q2 is a critical quarter, and there are several key action items that VC CFOs / Finance Pros and GPs should focus on. By taking these steps, you'll be well on your way to achieving success in Q2 and beyond.

We’ve listed some of our favorites above - if you think we’re missing any big ones, please drop a note in the comments!

That’s all for today folks! Thanks for your support and spreading the word! Share this on Twitter or LinkedIn to help grow “the crew!”