Outsourced CXO - Chief Execution Officer.
During early stages of startup development, filling out "white spaces in senior-level skills", in shortest time and at minimum cost is of crucial importance. Outsourced executives, allow the startup to fulfill this objective, while testing their execution capabilities, on the job, prior to making a long-term commitment. Excellence in execution requires a hands-on, proactive and multi-skilled approach.
Early-stage Execution Path
Early-stage startups follow a "sequential" execution path:
Product Architecture & Development.
Structuring Organization for Growth.
Funding rounds fuel above execution path.
The sequential nature of tasks allows a "multi-skilled CXO" to transition across roles optimizing cash, at a time when it is scarce.
Fixed number of hours/month.
ONLINE CUSTOM FASHION DESIGN, MANUFACTURING & SALES.
Designer and manufacturer of fashion garments for women sold through e-commerce platform. Company developed a proprietary Artificial Intelligence -based technology to design “custom-fitted” ladies’ garments.
This venture building project is in its initial phases. To date, we have fulfilled the following roles and performed the following tasks:
CEO: Development of Company By-laws and Stock Plan, including Stock Options Plan.
CFO - development of 5-year Financial Plan (Profit and Loss Statement, Cash Flow Statement, Balance Sheet). Analysis of comparable Exits.
CPO - Product - Market Fit assessment.
VIDEO PLATFORM - OPTIMIZING CXO UTILIZATION.
A full Senior Management team is required to ensure all areas of the company are operating in unison. However, a complete "fixed" team drains considerable resources (either cash or equity).
Since task are sequential in early stage startup development, the appropriate CXO role must be emphasized when most needed. This can be accomplished by "multi-skilled" CXOs transitioning across roles, based on need OR "multiple CXOs" with different time commitments depending on the stage of development.
In this project CXO roles were emphasized, as follows:
CTO - during mobile app development phase.
CMO - upon app launch to acquire and retain customers.
COO - org. structuring and processes development for scaling up.
CFO - investor document preparation and fund raising strategy for follow-on round.
Above optimization is only possible through "fractional" or "contract" CXO services, such as the ones we offer.
When startup enter a growth stage, a complete "fixed" Senior Management team will likely be put in place.