A FEL’s Post

A 35% CFO... Possible? First the gig economy came to taxi and food delivery drivers. Now consultants and software engineers are working freelance. Could C-suite executives be next? A slowdown in VC funding in recent years has meant startups have to work with less cash and longer runways. Often, startups need C-suite expertise earlier to manage cash burn, says Michelle Kvello, a self-described “dinosaur” fractional CFO based in Sydney. Kvello believes the model can take off in 2024: More executives are willing to work fractionally, and there is a growing need among startups for managing financial risks. “It allows them access to senior resources without over-indexing too early,” Kvello says. Hired on-demand, fractional executives can divide their time across several companies or work on event-driven projects. For example, a chief risk officer could be brought in to win a license from the regulators; or a chief technology officer to help build the platform and scale. While the model sounds good on paper, offering startups an experienced executive for a fraction of the cost, it can come with real challenges, says executive recruiter Dexter Cousins. Write-up Credit: LinkedIn news #trends2024 #whatsyournext #gigeconomy #gigworkers #executiverecruiting #startup #futureofwork

Why preparing a financial offer for an Executive candidate at a startup requires a different playbook (compared to a corporate company): 1) Startups often offer equity or stock options as a significant part of the compensation package. More so than corporates. (limited cash flow but high growth potential). 2) Startups might offer more creative or flexible compensation packages, whereas the compensation packages in corporates are often more structured and standardised. In a corporate setting, the executive roles are usually more defined and stable, and this clarity is often reflected in the offer. 3) Startups often present a higher risk-reward scenario. The financial offer might reflect this, with the potential for high rewards if the company succeeds. These are some of the key differences I see in the market. From a candidate perspective this means there is often more room for negotiation at a Startup company than at a corporate. Ps: In general executive candidates are aware of this as many have been part of these negotiations from an employer point of view. 💡 As a startup stakeholder preparing an offer, you want to be aware of this 💡 #executivesearch #executiverecruitment #startup

With governance, compliance, and financial discipline rising to the forefront, #startups need to get their act together. The growth-at-all-costs, FOMO mentality needs to be traded for stable and #sustainable growth. This will be key to building long-term trust in the ecosystem and bringing back #investors to the table. Other factors that are bolstering investor confidence include – 📍 Firms are adopting leaner models, prioritising scalable ventures with expanding revenues and profits. 📍 The Indian startup landscape holds $20 billion of untapped capital, awaiting deployment. 📍 Tech salaries are more manageable, and businesses are improving at team retention. 📍 People are opting for job stability over the widespread job hopping observed in previous years.

As a seasoned executive assistant, I'm excited to share a concise overview of startup companies under the Companies Act 2013. Definition and Eligibility: - A startup company, per the Department of Industrial Policy and Promotion (DIPP), is a private company under the Companies Act, 2013. - Criteria include being less than five years old, turnover not exceeding ₹25 crores, and focusing on innovation or scalability. Key Provisions under the Companies Act, 2013: - Simplified Incorporation Process - Relaxation in Compliance - Fast-Track Exit - Tax Exemptions Benefits and Incentives: - Startup India Initiative - Fund of Funds for Startups (FFS) - Tax Benefits, including a three-year tax holiday The Companies Act, 2013, fosters a favorable environment for startup growth in India, offering relaxations, benefits, and incentives. This has led to a thriving startup ecosystem in the country. I hope this overview proves informative. Feel free to ask for more details!

In the past few days, I've seen a lot of posts regarding the FY23 financials released by apna... 👨🏭 There's a lot of negative news revolving, but before getting into that, let's look into some of the positive pointers: 👍 👍 - Fastest Company to become a Unicorn in India - Definitely has the trust of Investors - User base of more than 5Cr, with more than 50L job openings - Expanding into the Job market of White-collar Jobs - Global expansion and listing Foreign opportunities in the platform Now, what's the hype all about? 🔻 🔻 - Raise $200Mn without any Revenue (Can't say a negative as such, if the founders have really big vision) - Total Revenue - 65Cr, where Recruitment revenue was just 2L and the rest was support services to its parent company in US in FY22 - Total Revenue - 180Cr, where Recruitment revenue was 17Cr and the rest was support services to its parent company in US in FY23 - Have burnt a lot of investor's money as of now, and need to find a pathway to a sustainable business model! YES! There seems to be something going on there! You can't just show arbitrary numbers and internal supports as revenue, just to justify your P&L... 🙅♂️ Corporate Governance and Auditing needs to be followed strictly and a justification should be provided by the company. But one positive point that we are missing here is that, the company increased its Recruitment earnings from 2L to 17Cr in just 1 year! 😲 That's a huge growth! 💪 It might be the case that the company has figured out a way to grow the business sustainably and are looking to expand in accordance to that! Well, that's my point on view on this topic! Building a startup in a space, which is way too unorganized and has a lot of uncertainties is very difficult, and maybe that's the reason the company had to burn that much amount, just to open a much bigger market for themselves. 👍 What are your views on the latest news about apna? Do you feel otherwise? Let's discuss in the comments! 💬 #startup #funding #investors #india #unicorn #apna #corporategovernance #job #bluecollarjobs #learning

Like SaaS revenue growth, headcount growth has remained flat in 2024 so far. Carta's latest report shows that companies have become leaner and salary benchmarks have remained flat across much of the ecosystem. #startups #saasstartups #techstartups #startupecosystem #startuphiring #benchmarkreport #startupcompensation #compensation #salaries #compensationreport #vcbacked #vc #venturefunding #hr #leanstartup #compensationandbenefits #compensationpackage #seriesa #seed #preseed #earlystagestartups #salarytrends #equitytrends #h12024 #humanresources #humancapital #hiringtrends #headcount #stockoptions #esop #investment #equitypackages #equitycompensation

Looking for #CoFounders into Tech & Mgmt. Become a #CoFounder of a $5.5 Bn company in the making! To introduce our #Founder & CVO, Tushar Topale, a Social Entrepreneur at Cloud Counselage Pvt. Ltd. (A Social Enterprise) Founder's LinkedIn profile: https://lnkd.in/d48CppkG As a Co-Founder of our #startup, you will play a pivotal role in shaping the tech, vision, strategy, and growth trajectory of the company. You will collaborate closely with fellow co-founders and team members to drive innovation, build a strong company culture, and achieve our mission of "Helping millions of students/freshers/professionals PAN India to get Job-Ready In-Time!" Idea is to build a workforce of a million, take them into the job market and IT industry to capture 1% of then $500 Bn industry by 2030, making us a $5.5 Bn company in 5 years. Responsibilities: Strategic Leadership: Collaborate with fellow co-founders to define the company's vision, mission, and strategic priorities. Develop and execute a comprehensive business plan to achieve short-term and long-term objectives. Drive continuous innovation and differentiation to maintain competitive edge in market. Team Building & Management: Recruit, lead, and mentor a high-performing team of professionals aligned with the company's values and culture. Provide ongoing guidance, support, and professional development opportunities to team members to help them grow and excel in their roles. Product & Technology Leadership: Lead the development and execution of the company's product roadmap, ensuring alignment with customer needs, market trends, and business objectives. Oversee the design, development, and launch of innovative products and features that deliver exceptional value to customers and drive business growth. Business Development & Partnerships: Identify and cultivate strategic partnerships and alliances that enhance the company's market presence, reach, and revenue opportunities. Develop and maintain strong relationships with key stakeholders, including customers, investors, suppliers, and industry partners. Negotiate and finalize business agreements and contracts that support the company's growth and expansion initiatives. Financial Management & Fundraising: Lead fundraising efforts to secure capital from investors, venture capitalists, and other sources to fuel the company's growth and expansion plans. Ensure the efficient and effective allocation of financial resources to support key business priorities and initiatives. Eligibility Criteria: - Investment of INR 15 lakhs is required for this role for ownership level commitment - Entrepreneurial mindset with a passion for building and scaling businesses, along with a high tolerance for ambiguity and risk -Bachelor's Degree; MBA preferred. Compensation: Remuneration in terms of ESOP/equity (upto 30 Lakhs value) initially, based on skills, experience & qualifications. Salary thereafter would be no bar for the top performers. Location: Hybrid/Online

Startups means uncertainty. Today, I'd like to discuss this from an employee's perspective. When considering joining a startup at a very early stage, here are some key points to ponder. I'll also share my insights as a founder: In startups, job titles are often just formalities or a point of start. The nature of the work will always be uncertain, and your job role may evolve beyond what's initially defined. Salaries in startups will be unpredictable thats not a question of if & but or what has been committed on paper because funds are limited. So as a founder, my primary focus is on the growth of the startup. If allocating a certain amount to your salary doesn't make sense in the bigger picture, I may need to reallocate those funds where they can have a more significant impact for the company. if I don't that would be unfair for myself (as a founder) & for the other team members who are putting their 100%. Your commitment to justifying your salary is crucial. What's on paper matters, but your actual contributions and impact on the startup are what truly count. Work timings in startups are uncertain. If you join, especially in a founding role, be aware that the founder's work is their top priority. They may work on weekdays, after 9 pm, and at other unconventional times. If you can't align with these expectations, it might not be the right team for you. In conclusion, joining a startup involves navigating uncertainties in job roles, salaries, and work timings. It's essential to understand these challenges before show you even show your willingness to join a startup. But if you're willing to take on more responsibilities, trust the team and founder, and their vision & focus on the work without worrying too much about salary and timing, your hard work will pay off in the long run. I wanted to share this because mostly employees don't have an idea of which company they should target, they just see apply button & click on it & started messaging to the recruiter.

Let’s discuss three specific questions I find valuable. https://lnkd.in/e5G-DmRK #Startupjob #jobsearch #jobmarket

CEO’s Office role in Startups or Management Consulting - Which one to pick? This is a dilemma that many early working professionals and MBA graduates face. As someone who has had a flavor of both, this is what I believe differentiates the two roles. 1. Strategy Vs. Implementation In consulting, you will be doing a lot of primary/secondary research, industry, and competitor analysis. Then only you will be able to draw out relevant recommendations for your client. But in a startup, it’s not only about coming up with what to do. Once you have done that, the firm/CEO would want you to actually implement the ideas on the ground. McKinsey might recommend Byjus to expand to Indonesia’s EdTech market next. But the CEO’s office in Byjus will have to actually execute the go-to-market strategy curated by McKinsey. 2. One Industry vs. Multiple Industries As a consultant, you work on projects which are 2-6 months long. Today, you might be working with a textiles manufacturer, then the Government of Maharashtra, and then with a FoodTech unicorn. In the CEO’s Office, you will be solving a diverse set of problems but for that specific industry and segment. As a consultant at Bain, you can be tasked to help Axis Bank in reducing their NPAs or aid Britannia in growing their revenues by 2X in the next 4 years. But if you are in the CEO’s office at Razorpay, you will be solving different issues but within the ambit of the FinTech industry. 3. Direct vs. Deferred Compensation In consulting, irrespective of when you join, your salary will be 1.3-1.5x that of your peers who don’t work in this space. The hours are long, the stakes are high, and the firms reward you from Day 1. In startups, you are playing the long game. Your in-hand salary might not be a lot but if you excel at what you do and show loyalty, you are given ESOPs (right to own equity) in the firm. So if you are someone who is willing to stay in a high-growth firm for 3-5 years if not more, then startups reward you exponentially. 4. Work Life Consultants travel to the client’s office to get work done. On most days of the month, they are working out of the client’s location, conducting research, taking interviews with stakeholders, and brainstorming on recommendations. A manager in the CEO’s office of a startup won’t travel that much, because your client is your firm. You do similar work as a consultant but your stakeholders are internal - the operations head, the director of sales, the VP of tech. Hope this helps you in making an informed decision and choosing the right career path for yourself. Follow me (Sarthak Verma) for more such content if you found this helpful. #careers #consulting #startupjobs