What Founders Should Know Before Hiring a CFO or Financial Advisor

Hiring a CFO or financial advisor is a pivotal decision for any growing business. It's often the first step in moving from instinct-led leadership to structured, data-driven decision-making. But for many founders, it’s uncharted territory. Who exactly do you need? When is the right time? And what should you look for beyond the resume?

Understanding the difference between a strategic partner and a numbers operator can save you months of frustration and missed opportunity.

In early stages, most founders play the role of part-time CFO themselves. You handle budgets, watch cash flow, build projections for investors, and interpret metrics. But as the business grows, financial complexity increases. There are more stakeholders, more scenarios to plan for, and more pressure to get things right. That’s when a dedicated financial leader or advisor becomes not just useful, but essential.

Still, not every company needs a full-time CFO right away. A strong financial advisor or part-time Virtual CFO can often deliver 80% of the value at a fraction of the cost. The key is to define what you actually need.

Ask yourself:

• Are you preparing for a fundraise or M&A?

• Do you need sharper visibility into cash flow, runway, or profitability?

• Are your investors asking for more structure and reporting?

• Is your financial model robust enough to make real decisions?

If the answer to any of these is yes, it’s time to consider bringing in expertise. But don’t just hire the first person who knows Excel.

Look for someone who understands your stage of growth. A CFO with decades of enterprise experience may not be suited to a fast-moving startup with ambiguous systems. Conversely, someone who’s only done startup FP&A may struggle to lead financial diligence in an M&A process. You want someone who has been in the trenches of businesses like yours, at your stage.

Also, define the role clearly. Do you want someone to:

• Lead fundraising?

• Improve forecasting and performance tracking?

• Build and manage your finance function?

• Serve as a strategic advisor to the CEO and board?

The more specific you are about outcomes, the better your hiring decision will be.

Culture fit matters, too. Your CFO or advisor will likely be involved in some of the most sensitive conversations inside the business—around salaries, strategy, capital, and risk. Trust and alignment are non-negotiable.

At Epoch Ventures, we often step into this role on behalf of growing companies—bringing the structure of a CFO office without the full-time commitment. Whether it’s preparing for funding, managing investor relations, or building out financial models and dashboards, we support founders with financial clarity and strategic foresight.

Hiring the right financial partner isn’t just about managing risk. It’s about unlocking growth. And when done well, it’s one of the highest-leverage decisions a founder can make. If you're looking for a fractional CFO who can help you unlock that growth, please feel free to reach out to us.