𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐮𝐩: 𝐚𝐫𝐞 𝐩𝐚𝐫𝐭-𝐭𝐢𝐦𝐞 𝐞𝐱𝐞𝐜𝐮𝐭𝐢𝐯𝐞𝐬 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧?

And when discussing with PE funds, enhancing the management bench is very much core to their playbook.
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Of course, one of scaleups’ key challenges is attracting talent:
👉 Good people have options, so working at risk for not so much money may not be top of the list. So, founders must make an extra effort to identify relevant executives (conferences, LinkedIn etc) and be persuasive.
👉 Stock options are the proverbial way to bridge comp expectations but in Europe we have the double whammy that founders (and even more VCs) tend to be stingy with stock AND staff don’t really value options (putting it down to zero too willy nilly).
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One of the ways to break the spell is to use part-time execs. This is becoming more common as experienced people are now available to plug management gaps.

For instance, not many startups have the need for a full-time CFO. It is however an expensive skill that they do need when dealing with fund-raising issues, their lifeblood. In addition, the CFO is generally not part of the Founders and therefore a part-time solution may be a way to "try before you buy" (on both sides).

It is also increasingly used to raise the company’s profile among analysts, journalist and investors. Companies often struggle to explain simply and consistently what they do, how they compare and why their approach matter. In addition, founders don’t always have or spend the time telling their story to the world, so a dedicated resource may help.

In short, don’t knock the value of bringing experienced executives part-time. This is often a way to bridge the gap until you can afford or succeed in bringing the right full-time team member.

📎 Source:
https://www.businessresearchinsights.com/market-reports/virtual-cfo-market-117680

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