Early-stage GTM Ops tips and when to hire a CFO: February updates from Bessemer
Bessemer Venture Partners
For the entrepreneurs who want to build revolutions of their own.
Discover how to analyze data for B2B sales success and the ideal ARR level to reach in order to hire a CFO.
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Watch our GTM virtual event recording: Building a data-driven sales team with Tony Rodoni , Ross Biestman , and Lekha Doshi today.
How early-stage go-to-market (GTM) motions can leverage data to their advantage
“For any go-to-market team or founder looking to accelerate their growth engine, you need to strike that balance between the art and science of sales,” says Ross Biestman , ServiceTitan 's Chief Revenue Officer and Bessemer Operating Advisor.
Modern B2B sales teams combine data analysis with strategic relationship-building to drive consistent growth. Data guides how they identify and prioritize high-potential leads, craft outreach messaging, forecast future performance, allocate resources, and track performance. The outcome? Higher win rates and increased revenue.
With these advantages in mind, here's a preview of Bessemer's five steps for early-stage teams to build?a data-driven sales organization:
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When should you hire a CFO? Here's what Bessemer's CFO Community had to say
When should a founder hire a finance lead––and more importantly, how will they know it’s time to bring one on full-time?
The right time and the level of the finance leader depends on many factors. 37% of respondents from Bessemer’s CFO Community said $10 million to $25 million of ARR is the sweet spot to bring on a CFO. Many also posited that the first hire should be a vice president (VP)-level role, instead.
Another signal that it’s time to hire a finance lead: when companies are preparing for an audit, a fundraise, or both, said Christopher Kitching , former CFO of Databook . “To get through an audit, companies need someone who can manage the audit firm and establish the right accounting methodologies, such as revenue recognition, Chris added. “That’s where an in-house finance leader with a deep understanding of business drivers can be helpful.”
Equally important is the ability to make accurate cash flow projections—that’s something investors want to see. If a founding team is unable to make accurate cash flow projections within a year, quarter, or six-month period, it’s likely time for them to begin searching for a finance lead. And working with an outside bookkeeper or financial software hits a hard limit when complexity increases and institutional knowledge is paramount.?
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Join the conversation! What are your thoughts on leveraging data for sales growth and CFO hiring? Comment below and share your POV.
?? Fractional Marketing Consultant | Helping Startups & Scale-ups Drive Growth, Build Audiences, & Scale Marketing Operations ??
3 周Cassandra Palanee
Founder & CEO | Software Architect | Design Engineer | Gamification | Structural Architecture Specialist | PaaS & IaaS Focused Development
4 周Some good information here, thank you. There is some good info to take to heart. I would like to emphasize the “Bessemer's five steps for early-stage teams”. This is especially important as early startups so you know the direction of your business model, and your target audience much better: what are their needs, what do you or will you offer as a B2B company that makes your product(s) valuable? Start communicating with potential clients and collect data (customers and competition) early on, and keep it updated as best as possible. I found it is easier to make adjustments later on if you already have this outlined, as well as establishing early relationships with potential clients/customers. It gives you a better idea and more reasonable target when you go to market. It also helps establish early pre-market clients for pilot and early access clients/customers. Nothing ever goes as planned, as hurdles always comes up. However, without a plan, those hurdles become mountains. This is especially true when it comes to your business model and potential clients/customers and partners.