#77 VC CFO Q2 Review / Q3 Key Action Items

Hi Everyone! đź‘‹ Welcome to the new members of @TheFundCFO crew! We recently released our New VC Fund Playbook + Model Downloads @ Streamlined.Fund! Re-linking our top 2023 posts: #67 Top VC CFO Posts & References of April, #65: WTF is Going On in VC (+ New Fund Model Data) & #60 Emerging VC Fund Tech Stacks!

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 :).

“Do what you can with all you have, wherever you are.” -Theodore Roosevelt

The Quarterly Closeout

It’s June 15th and we’re two weeks away from closing out 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?!

We looked back at our most impactful posts from Q2, which included the following:

We keep hearing that our readers want actionable insights and tactics to operate more efficiently. Our playbooks, fund models, templates, and links to resources we share are designed to help VC CFOs and GPs do just that. We’ll keep bringing that to you in Q3’23 and beyond!

Key Action Items for Q3’23

Looking back at our own experiences (VC CFO for 5+ years and a VC fund / company investor for 15+ years) and conversations with many industry professionals who have collectively seen it all, we’ve identified some key action items for success in Q3:

  1. Review Your Q2 Performance: Before setting any goals for Q3, it's essential to review your performance in Q2. Take a close look at your financials, key metrics, and any challenges you faced. Use this information to adjust your strategy for Q3.

  2. Set Realistic and Measurable Goals: Once you have a clear understanding of your Q2 performance, it's time to set goals for Q3. 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 Q2 performance and your plans for Q3. 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. Q3 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, Q3 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.

Q3 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 Q3 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!

Fun Picture of the Day: Plaza Midwood in Charlotte, NC

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!”