How to Build a Financial Team Structure

Most founders are still hiring finance teams like it’s 2015. Back then, it looked like this: → An outsourced bookkeeper to “keep things clean” → A junior FP&A to build the model → A controller to close the books (maybe) → A “CFO” to show up once a month and present the deck → And five advisors with opinions on what “scaleble model” looks like but no accountability This model was clunky, expensive - and in many cases, survivable. In 2025, it’s a different game. Workflows are automated. Metrics update in real-time. Investors expect clarity from day one. And most importantly: You can’t afford a bloated finance org that moves slower than your business. Here’s what a modern finance setup looks like, by stage: ↳ Pre-Seed Focus: Cash survival, burn rate, founder-led discipline Setup: • Founder tracks bank balance, burn, and runway manually • Light tooling (Mercury, Justworks, Excel) ❌ Mistake: Ignoring basic financial hygiene while chasing growth ↳ Seed Focus: Financial hygiene + investor readiness Setup: • Part-time strategic operator or experienced generalist • A basic financial model in Excel • Clean accounting foundation (e.g. QuickBooks) ❌ Mistake: Delaying setup too long, or overcomplicating before product-market fit ↳ Series A Focus: Scaling with operational precision, board-level visibility Setup: • Clean books, updated model and structured financial reporting • Strategic finance lead (head of finance or experienced fractional CFO) • Tools like Layer, Ramp, Equals, and real-time dashboards • Scenario modeling tied to cash and GTM strategy ❌ Mistake: Overbuilding the team, models, dashboards and hiring a full-time CFO before the role has strategic scope ↳ Series B+ Focus: Predictable planning, tighter investor storytelling Setup: • Full-time CFO, lean internal team + specialized contractors (RevRec, FP&A, systems) • Integrated OKRs, forecasting, and business model evolution • Finance embedded across product, GTM, and exec strategy ❌ Mistake: Treating finance like a silo instead of a central nervous system Still-common mistakes (yes, even in 2025): 1. Over-indexing on accounting tools instead of building a strategic finance function 2. Hiring too senior, too soon without knowing what you really need 3. Assuming more hires = more insight when the problem is usually alignment, not headcount At every inflection point (scaling, raising, pivoting, downsizing) finance can be an anchor or a multiplier. It’s not about team size. It’s about building the right system at the right time, with the right level of depth. Because the real job of finance isn’t reporting the past. It’s enabling the next decision. Where is your finance setup today helping you grow, and where is it quietly holding you back?

Most PE-Backed Finance Teams Are Broken. Here’s exactly how to fix them—at every stage of scale. We built the definitive finance team blueprint based on EBITDA level—designed to eliminate chaos, unlock visibility, and accelerate value creation. --- 1️⃣ $1M–$5M EBITDA Companies The Reality: - Excel is the system of record - Internal controls are nonexistent - Cash visibility = best guess - Every close is a fire drill Winning Team Structure: - Bookkeeper / Junior Accountant – Owns AP/AR, bank recs - Controller (FT or fractional) – Month-end close, audit readiness - Fractional CFO – Infrastructure, capital planning, strategic support - Tech Stack: QuickBooks or Xero (don’t overengineer it) > Keep it lean. Prioritize control, visibility, and a clear path to scale. --- 2️⃣ $5M–$15M EBITDA Companies The Reality: - Reporting exists, but tells no story - Teams break under M&A and system changes - Finance is still seen as a cost center Winning Team Structure: - Controller – Owns GL, close, controls - Accounting Manager – Revenue, AP/AR oversight - FP&A Analyst – Forecasts, budgets, variance analysis - CFO (fractional or FT) – Capital structure, lender/investor comms - Optional: AP/AR Clerk – Handles transaction volume - Tech Stack: NetSuite or Intacct + Power BI or Tableau > This is the stage where finance must evolve from “back office” to “strategic partner.” --- 3️⃣ $15M–$25M EBITDA Companies The Reality: - Close takes 10+ days - Board reporting is backward-looking - ERP is underused and integrations lag Winning Team Structure: - Full-Time CFO – Strategic leadership, investor-facing - Finance Director – Owns FP&A, business partnering - Controller – Compliance, controls, reporting - FP&A Team (1–3) – Modeling, board decks, scenario planning - Accounting Staff (2–5) – GL, AP/AR, fixed assets - Treasury Manager – Cash, debt, working capital - Systems Analyst – Optimizes ERP, owns integrations - Tax Support – Internal or outsourced - Tech Stack: NetSuite + Vena + BI (Power BI/Tableau) > At this stage, precision, speed, and scalability are everything. --- These frameworks aren’t rigid. Start with your biggest constraint—and build the team that solves it.

Building a finance team from scratch can be intense. Here's 4 essential steps and a guide to master the process Starting a finance team from scratch can feel like building a ship while sailing. When I embarked on this journey for the first time, I faced challenges that tested every one of my skills. Here’s how I navigated the process and what I learned along the way: When I was hired the company had zero finance infrastructure. The CEO wanted a finance team that could drive strategic decisions, manage cash flow, and support scaling efforts. The challenge? We had to assemble a high-performing team, establish processes, and build trust—all at the same time. 4 Lessons Learned 1) Start with Vision and Strategy - Define Clear Objectives: Align your finance team’s goals with the company's overall vision. Understand what the business needs and how finance can contribute. - Create a Roadmap: Outline short-term and long-term milestones for team growth and development. 2) Hire with Care - Balance Skills and Culture: Look for candidates who bring technical expertise but also fit into the company’s culture. - Invest in Training: Your initial hires should be versatile and open to continuous learning. Provide them with the resources to grow. - Conduct a Skills Audit: Assess the skills needed versus what you have. This helps identify gaps and bring the right people on board. - Develop Onboarding Programs: A structured onboarding process accelerates new hires’ integration and productivity. 3) Build Strong Processes Early - Establish Clear Roles: Define roles and responsibilities from day one to avoid confusion and overlap. - Implement Efficient Systems: Invest in financial systems and tools that scale with your business. Automation saves time and reduces errors. 4) Foster Collaboration and Trust - Encourage Open Communication: Create an environment where team members feel comfortable sharing ideas, concerns and collaboration. - Set Up Regular Check-Ins: Weekly or bi-weekly meetings help keep everyone aligned and address issues proactively. Building a finance team from scratch is a marathon, not a sprint. Patience, clarity, and commitment to growth are key. Focusing on these strategies and continually refining your approach, you’ll set your team up to make a lasting impact on your company's success. I've included a more in-depth guide to Setting Up a Finance Department for Your Business. Hope this is helpful! _______________________ Please share your thoughts in the comments Follow me for more finance insights  To book a One-Hour Strategy Call https://lnkd.in/ev8mX3in Request services https://lnkd.in/eQdaPrP3