Is Finance an Afterthought? The Rookie Mistake That Can Doom a Startup
A new blog post for startups by member RoseRyan, an award-winning finance and accounting consulting firm
In this brief post for startups, RoseRyan consultant Ron Siporen provides a pep talk to CEOs about the importance of setting up a finance function in the early days and the effect it could have on the company’s long-term success. Siporen makes the case that a host of negative consequences can crop up if this area of the new business gets the short shrift.
He pinpoints the common issue of overloading a young company’s office manager with responsibilities beyond his or her expertise. The result is that leadership can eventually spend a woefully huge amount of time cleaning up the mess down the road — a big distraction that drags down growth. Affected parties that can feel the impact of the company’s avoidable rookie mistakes include lenders, banks and investors.
To read the blog, go here: http://www.roseryan.com/blog/2015/08/is-finance-an-afterthought-the-rookie-mistake-that-can-doom-a-startup/
A longtime member of the San Francisco Bay Area’s dynamic life sciences community, RoseRyan has worked with public and private life sciences companies of all sizes since 1994. Its engagements, numbering in the hundreds, span every sector of the field, from biotechnology to specialty pharma. Most recently, RoseRyan assisted Southern California–based Nemus Bioscience with a reverse merger for going public.