All Guides and ebooks

Your First 90 Days for Startup Finance Leaders.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Download PDF
03

Day 31 to Day 60: Assessing and defining finance priorities

Goals
  • Audit existing financial processes
  • Become a strategic partner
  • Work with company leaders on business metrics
  • Calibrate expectations
Your next 30 days should focus on learning how the company operates today, and figuring out what needs to be done to bridge the gap between where the company is and where it’s going to be.

Audit existing financial processes
Step one is to evaluate the existing finance operations with a process audit. “An audit is critical,” Nadia says, “because it guides how you bridge existing processes and new ones — it can help you to identify the gaps in existing processes and take them to the next level. Ask questions about everything — how employees are paid, how they are reimbursed, how vendors come aboard.

“Slowly build your way up to bigger processes — the company’s planning process, leading and lagging metrics, how budgets are decided. Think about where the company’s revenue stream is going to be in a year. Is the spending plan going to work? Think about the regulatory and compliance exposure that comes with growth. What systems will you need to set up to prepare for an audit?”

Find out how to be a strategic partner
Many startup employees don’t understand how having a finance person in-house can impact them. You can open those conversations by asking, “How can finance be a better strategic partner to your area of the business? Just ask people what they see finance bringing to the table,” Nadia says. “If you’re sitting down with Legal, for example, ask them where they see the department a year from now and how Finance can help them get there.”

“A lot of the answers you get,” Nadia adds, “will relate to employees, equity, and compensation.” Resources, in other words, and how to use them to meet critical business objectives.
The more a finance leader knows about what a department’s objectives are, the more effective a partner she can be.

Work with company leaders on business metrics
“Finance builds out the process of tracking different metrics, developing the expectation of how we want to grow, and how we want to look at different numbers,” Nadia says, “so that’s another area to focus on as you’re constructing your plan.”

Nadia thinks about numbers from two perspectives. “The first is internal operations,” she says, “payroll, expenses, vendors — the numbers that tell you how much keeping the business running is costing the company.” The second is more external and strategic — revenue forecasts, spending forecasts, and background metrics.” The latter informs north-star metrics, how existing and future investors perceive the company, and the story that the company wants to put out into the world.

It’s important to work with the leadership team on these early on, Nadia says, in order to develop the right expectations when it comes to growth and measurement. They’re intertwined with financial processes and you can’t talk about one without the other. It is important to make sure every one has the consistent understanding of the definitions.

Calibrate expectations
“It’s your job as a leader,” Nadia says, “to calibrate expectations.” Finance leaders often need to temper goals with realistic numbers, processes, and timelines. She recalls the first audit she spearheaded at Robinhood. The company wanted to continue using the third-party auditor they had always used in the past.

But after a quick evaluation of their services and the company’s recent growth and new revenue streams, Nadia realized they wouldn’t be able to help Robinhood meet SEC and FINRA standards. It took a year to put the right processes in place for a big-four audit. Looking back, Nadia says it was worth it. “It’s the job of a finance leader to take a pause,” she says. “To step back and say, “Hey, I understand this is a great plan, but here’s what you need to consider.”
The more a finance leader knows about what a department’s objectives are, the more effective a partner she can be.

Guides and ebooks

Your First 90 Days for Startup Finance Leaders.

Trusted by finance teams at all stages

03

Day 31 to Day 60: Assessing and defining finance priorities

Goals
  • Audit existing financial processes
  • Become a strategic partner
  • Work with company leaders on business metrics
  • Calibrate expectations
Your next 30 days should focus on learning how the company operates today, and figuring out what needs to be done to bridge the gap between where the company is and where it’s going to be.

Audit existing financial processes
Step one is to evaluate the existing finance operations with a process audit. “An audit is critical,” Nadia says, “because it guides how you bridge existing processes and new ones — it can help you to identify the gaps in existing processes and take them to the next level. Ask questions about everything — how employees are paid, how they are reimbursed, how vendors come aboard.

“Slowly build your way up to bigger processes — the company’s planning process, leading and lagging metrics, how budgets are decided. Think about where the company’s revenue stream is going to be in a year. Is the spending plan going to work? Think about the regulatory and compliance exposure that comes with growth. What systems will you need to set up to prepare for an audit?”

Find out how to be a strategic partner
Many startup employees don’t understand how having a finance person in-house can impact them. You can open those conversations by asking, “How can finance be a better strategic partner to your area of the business? Just ask people what they see finance bringing to the table,” Nadia says. “If you’re sitting down with Legal, for example, ask them where they see the department a year from now and how Finance can help them get there.”

“A lot of the answers you get,” Nadia adds, “will relate to employees, equity, and compensation.” Resources, in other words, and how to use them to meet critical business objectives.
The more a finance leader knows about what a department’s objectives are, the more effective a partner she can be.

Work with company leaders on business metrics
“Finance builds out the process of tracking different metrics, developing the expectation of how we want to grow, and how we want to look at different numbers,” Nadia says, “so that’s another area to focus on as you’re constructing your plan.”

Nadia thinks about numbers from two perspectives. “The first is internal operations,” she says, “payroll, expenses, vendors — the numbers that tell you how much keeping the business running is costing the company.” The second is more external and strategic — revenue forecasts, spending forecasts, and background metrics.” The latter informs north-star metrics, how existing and future investors perceive the company, and the story that the company wants to put out into the world.

It’s important to work with the leadership team on these early on, Nadia says, in order to develop the right expectations when it comes to growth and measurement. They’re intertwined with financial processes and you can’t talk about one without the other. It is important to make sure every one has the consistent understanding of the definitions.

Calibrate expectations
“It’s your job as a leader,” Nadia says, “to calibrate expectations.” Finance leaders often need to temper goals with realistic numbers, processes, and timelines. She recalls the first audit she spearheaded at Robinhood. The company wanted to continue using the third-party auditor they had always used in the past.

But after a quick evaluation of their services and the company’s recent growth and new revenue streams, Nadia realized they wouldn’t be able to help Robinhood meet SEC and FINRA standards. It took a year to put the right processes in place for a big-four audit. Looking back, Nadia says it was worth it. “It’s the job of a finance leader to take a pause,” she says. “To step back and say, “Hey, I understand this is a great plan, but here’s what you need to consider.”
The more a finance leader knows about what a department’s objectives are, the more effective a partner she can be.

Featuring

No items found.

What you’ll learn.

All Guides and ebooks

Trusted by finance teams at all stages
Jason Lopez, Controller at Lattice
,
Jason Lopez, Controller at Lattice
,

What you’ll find in this guide:

01
02
03
04
Want to learn more about spend management?

Read our Definitive Guide to Spend Management.

Download the Guide

Read the Article
05
06
+
07
08

Learn about the features of a spend management system.

09
10
11

Learn how to cut your time-to-close in half with Airbase.

Schedule your demoSchedule your demo