Hi, my name is Remco Livain, and as a serial entrepreneur, I want to share with you today about the best decision I've ever made - hiring a Chief Financial Officer (CFO). Currently, I'm running GANDT Ventures GmbH, a consultancy business out of Zurich, Switzerland. We have a fantastic team of 25 full-time employees working on strategic marketing projects for scale-ups and larger corporate clients worldwide.
My Focus and the Journey with GANDT Ventures
In my journey with GANDT Ventures, I realized early on that I loved and excelled at partner management, sales, and direct-to-consumer marketing. When I founded the company back in 2015, I knew I wanted to focus on these areas that I loved and did well. I wanted to build a strong team around me, professionals and experts who knew more than me, and together, we could help clients develop the digital and organizational skills they required for future success.
The Challenges of Growth
However, as GANDT Ventures grew, I started to feel the financial pressure. Being bootstrapped from day one and operating out of cash flow presented its challenges. All hires I made were skill hires - professionals to support client work and operational duties. As the team grew, managing daily operations and bearing the financial burden became increasingly daunting.
Making the Best Decision Ever
This challenge led me, Remco Livain, to decide to bring on board an experienced Chief Financial Officer or CFO. The sheer amount of paperwork - managing payroll, travel expenses, client invoicing, yearly financial bookkeeping, and even the quarterly VAT payments - became overwhelming. Hiring a full-time CFO eased my workload and set up a robust process to help GANDT Ventures thrive.
The Impact of that Decision
And here's the thing - hiring a CFO had a much more significant impact on my life than I initially expected. I started feeling a burden being lifted off my shoulders, one that has been there for many years. For the first time, I was relieved from a substantial part of the operational work that kept the team afloat. And this, I believe, will free up my time and let me focus on my strengths, enhancing the success of GANDT Ventures.
My Advice to Fellow Entrepreneurs
Based on my experience, my advice to other entrepreneurs is simple: hire help early on, especially in areas outside your strengths. If there's something you're not good at or something that's consuming too much of your time, don't be too proud to hire for that role. The sooner, the better. This has been a game changer for me, Remco Livain, and I believe it will be for you too.
Don't wait to get help. Do it early, do it efficiently, and ensure you focus on your strengths. I'm confident this approach will not only help you grow but also benefit your team and the people around you, paving the way for future success.