Episode 112: Strategic CFO Support for Startups with Scott Sehon of Mod 4 Finance
Scott Sehon, owner of Mod 4 Finance, talks about his leap into entrepreneurship along with the importance of his business model. In 2017, Sehon took on his experience as capital and embarked on providing fractional CFO work for startups.
Sehon shares how he had to cast away his comfort zone to become an entrepreneur. He decided to go for it after seeing a dominant business problem in startups. Companies needed the strategic direction of a CFO but couldn’t afford to take one on full-time yet. His model is analogous to how SaaS works, but it uses expertise instead of software.
Sehon shares some of the top concerns when he takes on a startup client. Not being aware of the company’s cash position in the present or future is one of them. The other is the absence of a tighter rigor around the formulation or adherence to a budget.
Budgets are not just spreadsheets that contain financial numbers — they are a roadmap for the business direction. Sehon explains that the budget should involve every leader in the business. It should also include flexibility to pivot towards an expense, but will have to be adjusted so it remains in balance.
Business leaders who tune into this episode will gain key insight into startup financials and how to plan their business roadmap with Sohen’s expertise.
Website - mod4.finance
Email - Scott@mod4.finance
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