TechCXO Returns to Inc 5000 List

TechCXO, the pioneer of on-demand executive leadership services, returns to the Inc. 5000 list of Fastest Growing Private Companies. The company has been on the list for 15 of the last 16 years.

ATLANTA, AUGUST 28, 2024 – In an outstanding affirmation of its enduring excellence and growth, TechCXO, the pioneer in providing on-demand executive leadership, proudly announced its return to the Inc. 5000 list of America’s fastest-growing private companies for 2024. TechCXO’s consistent presence on the Inc. 5000 list for 15 out of the last 16 years is a testament to its unwavering commitment to empowering clients and fueling their growth. The firm appears on other Inc. lists: #199 in Georgia, #500 in Business Products & Services, and #187 in Atlanta.

TechCXO was founded in 2003 on the premise that companies can benefit from having the best executive talent available to serve as their CFOs, CTOs, CSOs, CMOs, CROs, COOs, CHROs and other executives on a fractional, part-time, or project basis. Companies might not otherwise be able to access the talent and experience level of a TechCXO partner and teams due to cost or availability.

Kent Elmer, Managing Partner of TechCXO, expressed his enthusiasm for the company’s latest accomplishment, “Being recognized once again on the Inc. 5000 list is a testament to the hard work and dedication of our team to excellent client service. Over the past 20 years, we’ve been committed to changing the game in fractional executive leadership, and our repeated inclusion in the Inc. 5000 underscores our success in this arena.”

Read Full Press Release

Signs Your Business Needs a Chief Marketing Officer (CMO)

Signs Your Business Needs a Chief Marketing Officer

Most companies have a CEO — the person who drives the direction of the company and makes the important decisions. They also likely have a CFO, COO, CTO, and even possibly a Chief Product Officer or Chief Revenue Officer.

But what about Chief Marketing Officer? Many companies choose to go without one, full-time or fractionally, for a number of reasons.

First, marketing is a “fuzzier” function than, say, technology or finance. It’s a little harder to be specific about what a CMO does or adds. “If I have junior marketers doing work, what does a CMO add?” they may ask themselves. In addition, senior businesspeople often believe they know enough about marketing to do the work of oversight.

But the biggest reason companies go without a CMO is, they have gotten used to what it’s like without a true marketing leader. Like homeowners who forego rehabbing their house for so long that they stop noticing the peeling paint, leaky faucets, and outdated look and feel, these companies can’t seem to prioritize what real marketing can do for them.

So here are a few signs that your marketing may not be delivering enough value for your company — and that you might need some experienced marketing leadership to get you over the hump.

You’ve been saying, “We need a website update,” for so long you’ve lost count. Websites get old. However, there’s nothing more important for your business. And letting it molder is a sure sign you’ve lost the ability to recognize the business lost by giving prospects the wrong first impression about your company and its offering.

The marketing you do is a series of tactics and one-offs. No customer ever sees your strategy. So, at the end of the day, marketing is actually a series of activities and behaviors you perform in the world. However, your strategy is what helps connect your execution across time, channel, and customer. Without strategic leadership and the rigor that comes from it, you may be pushing out mere transactional messaging, transitory promotions, and random product news.

And because no one has built a holistic plan, nothing is adding up over time in the customer’s mind. As I’ve written here before, great marketing is a “system,” working together as “connective tissue” to add value to an organization.

Your brand’s story is all about what you do, but not why. A clear purpose is a sign of a strong strategy – and it helps frame your narrative around the value you provide, vs. the attributes of your products and services.

Buyers buy solutions that promise to solve their problems and challenges; product attributes are the reasons to believe your promises, not the main message you tell.

You aren’t obsessed with your customer. When marketing is strategically led, it is always developed in the service of its customers. But without a CMO driving it, it’s likely that your company’s efforts are focused on “push-based” marketing, vs. insight-based marketing built around customer need.

Every good marketer at your company leaves. The thing about good marketers is that they love marketing. They want to do strategic, interesting, big things. Without a leader in marketing, their work instead ends up being completing a long to-do list, spinning plates, and working on putting out the latest fire. Good marketers don’t feel fulfilled by this type of work.

No one is setting objectives, developing goals, or measuring your results. When marketing is focused on today’s fire drill, it’s likely there’s no long-range planning. And, importantly, you’re more than likely not tracking, or optimizing your efforts on an ongoing basis.

A CMO — full-time or fractional — may seem like an indulgence or luxury, especially for an early-stage or startup company. But if you know how to spot the signs, you’ll realize that without one, your marketing is likely to not leave a mark at all.

Email | LinkedIn | Download CV

The Start-Up’s Guide to Extending Your Cash Runway

If it’s been a while since you raised funds for your start-up, and your cash runway is starting to resemble your personal bank account – a bit thin — you’re not alone. Investors are taking longer than ever to make decisions, particularly on new companies, and the fundraising process itself can now stretch six-to-twelve months or more from first meeting to close. If you’re trying to retain your team and make it to that next inflection point, here are some practical ideas to extend your runway and avoid finding yourself negotiating from a position of desperation.

One critical shift from even two years ago: 12 months of runway is no longer the safety threshold it once was. Today, seed-stage companies should target 18 months at close, and stronger companies are aiming for 24. The math is simple: if a raise takes at least six months, you need to start with at least twelve months left just to avoid running out of runway mid-process. So plan accordingly.

Control the Outflows

You should have a strict policy on who spends what, with sign-offs from your CEO or CFO. Travel, entertainment, and outside consulting are the “canaries in the coal mine,” i.e., leading indicators for how well you are managing spend. You should know where every dollar is going before it is committed.

But cash management today goes beyond line-item cuts. You should build scenario plans: a base case, a downside case, and, for example, a “what if the raise takes six months” case. The goal is visibility into your cash burn well before things get tight so you don’t have to scramble to cut once the warning lights come on.

Two categories deserve special attention that didn’t really exist as line items two years ago, at least not commonly: cloud infrastructure and AI tooling. These now represent a meaningful share of burn at many early-stage companies, and they can scale quietly and quickly under the radar. They should be audited regularly.

Plan Ahead. Much Further Ahead.

If you only have three months of cash left, it is too late to make meaningful cuts. If you have to reduce your team, the savings compound with every month you implement them earlier. The same principle applies to fundraising: starting your next raise with nine or more months of runway gives you leverage; starting with three gives it all to the investors.

This is a different posture than the advice common just a few years ago. In the current environment, investors are concentrating capital into fewer companies with stronger fundamentals, and they’re taking their time. It’s important to build your plan around that reality.

When it Comes to Revenue, Quality Also Matters

If your business generates revenue, the metrics investors have increasingly focused on in tighter fundraising environments are gross margin, net revenue retention, churn rate, and how quickly you collect. Top-line growth still matters, but burn efficiency and retention metrics have become the primary lens in investor conversations over the past 18 months.

Practically speaking, this means pricing discipline, early renewal conversations with your best customers, faster invoicing and collections, and prioritization of the product features that retain customers versus those that acquire new ones. These levers improve your unit economics and your investor story simultaneously.

Expand Your Fundraising Toolkit

VC-led equity rounds are still the gold standard for many growth-stage companies, but they’re not the only tool. And in a slower market, they shouldn’t be your only option. SAFEs (Simple Agreement for Future Equity) and convertible notes remain useful for bridge rounds. They avoid the difficult negotiations of a priced round and defer valuation questions to a later date, while offering incentives like interest and discounts to participants who take the early risk.

Beyond equity, consider:

  • Venture debt: Available to companies with recurring revenue and existing institutional investors, often used to extend runway between equity rounds without additional dilution.
  • Revenue-based financing: Repaid as a percentage of monthly revenue, useful for companies with predictable top lines.
  • Customer prepayments: Annual contracts paid upfront are an underused runway extender. Many customers will take a modest discount for the predictability of paying annually.
  • Government grants and mission-driven foundation funding: Non-dilutive and worth pursuing for companies in climate, health, defense, or other priority sectors.

Milestones

You need to clearly understand your milestones, key inflection points, because those are the triggers for raising capital at increasing valuations. Your cash runway needs to get you not only to the next milestone, but also leave you three to six months on the other side to review your data and pitch the accomplishment to investors.

In a 24-month runway model, this means thinking at least two milestones ahead. What does the data look like at month 12, and what does it need to look like at month 18 to support a meaningful raise? Build the model now, because you’re going to need it.

Pass the Hat

Many VCs are rightfully focused on their existing portfolios, and keeping those companies healthy is their primary objective. New investment activity has pulled back, and portfolios are being triaged. Your current investors are the best and most immediate source for emergency bridge funding, but they will want assurances that the bridge leads somewhere — a meaningful milestone, a credible path to the next raise, and not off a cliff. 

Come to that conversation with a clear plan, not just a need. Show them the milestone, the timeline, and the model. Investors who have already bet on you are far more likely to double down when you demonstrate you’ve thought it all the way through.

These difficult market cycles are just that – cyclical. With advanced planning, honest revenue discipline, and by using all the tools at your disposal, you should be able to position yourself for the next upswing.

FAQ

Frequently Asked
Questions

Common questions about managing startup burn rate, extending cash runway, and navigating funding challenges.

  • Start-ups should implement a strict spending policy requiring formal sign-offs from the CEO or CFO for all expenditures. Monitoring expenses like travel and consulting acts as a leading indicator for cash management. Knowing where every dollar is committed helps maintain financial control during periods of limited capital availability.

  • Founders learn how to extend a startup cash runway by managing capital strategically and reaching inflection points through disciplined spending. This requires proactive planning, utilizing alternative funding mechanisms like SAFEs or convertible notes, and aligning remaining cash with specific strategic milestones to demonstrate value to potential future investors.

  • SAFEs and convertible notes are alternative fundraising mechanisms that avoid the difficult negotiations associated with priced equity rounds. These instruments defer valuation decisions to a later date while offering incentives like interest and discounts to participants. They provide a flexible way to bring in precious capital during challenging market cycles.

  • Existing venture capital firms are often the most immediate source for emergency funding during market downturns. VCs prioritize supporting their current portfolio companies to keep them healthy. Investors usually require assurances that the bridge funding will lead to a meaningful milestone where the company can raise additional capital.

TechCXO Reports Full-Year Revenue Growth for 2023; 20th Straight Year of Top-Line Growth

ATLANTA, MARCH 12, 2024 – TechCXO, a pioneer in providing industry-relevant, on-demand executives delivering fractional and interim professional services, reported an increase in annual service fees in 2023 over 2022 to $56 million. TechCXO has increased revenue every year since its inception in 2003.

“TechCXO is in the strongest position in our history. We now have more than 120 partners – the most ever. Our partners love our collegial environment and how our model enables them to impact their clients directly and positively,” said J. Kent Elmer, TechCXO’s Managing Partner.

“Today, we’re seeing staffing and search companies, consultants, and business coaches claim to provide fractional executive services. That’s a testament to the success of our model,” Elmer added. “However, we know after two decades in business that the depth of partners’ expertise – every one of whom has been in multiple c-suite roles – and the team of professionals supporting them is a big differentiator.”

TechCXO was founded in 2003 on the premise that companies can benefit from having the best executive talent available and serving as their CFOs, CTOs, CSOs, CMOs, CROs, COOs, CHROs and other executives on a part-time or project basis. Companies might not otherwise be able to access the talent and experience level of a TechCXO partner and teams due to cost or availability.

Read Full Press Release

TechCXO has assisted thousands of start-up and growth-stage clients in its history. In addition to executive support, companies can also outsource their entire Finance, Sales & Marketing, IT, HR, and Operations functions to TechCXO for 50-75% less than it costs to staff full-time, loaded salaries. All TechCXO partners and staff are U.S. and U.K.-based.

About TechCXO

TechCXO is a pioneer in providing high potential companies across the country with industry-relevant interim and part-time executives on-demand. More than 5,000 companies, from startups to the Global 1000, have entrusted TechCXO to help with their critical functions by calling on TechCXO executives and teams as their CFOs, COOs, CSO, CTOs, CMOs, CHROs and other executive roles. TechCXO has appeared on the Inc. 500/5000 Fastest Growing Private list every year since 2008. For more information about the firm, please visit https://www.techcxo.com.

TechCXO’s Paul Sansone Named 2024 Georgia Titan 100

TechCXO’s Paul Sansone Named 2024 Georgia Titan 100


Atlanta, GA – TechCXO Atlanta Managing Partner, Paul Sansone, has been named a 2024 Titan 100 honoree, recognized as one of Georgia’s top CEOs and C-Level executives. The award, presented by Wipfli LLP, acknowledges executives with exceptional leadership, vision, passion, and influence who demonstrate expertise in their respective fields.

This year, hundreds of applicants vied to be of one of Georgia’s Titans of Industry. The 2024 Titan 100 honorees are chosen from various sectors, including technology, healthcare, banking/finance, construction/real estate, professional services, non-profit organizations, and other industries. The Titan 100 and their companies combined employ over 125,000 individuals and generate more than $30 billion in annual revenues.

“I’m honored and humbled to be recognized with this award. I’d like to congratulate all the recipients and applicants. It is such a blessing to be a part of the dynamic Atlanta business and technology community,” Sansone said. “TechCXO is so invested in the success of our clients, as they are the fuel that propels so much of our vibrant business community. I’m also grateful to work with so many wonderful colleagues, and I look forward to growing our local relationships in the years to come.”

Sansone has over 25 years of executive financial leadership experience in several industries, including e-commerce, enterprise broadband, hi-tech R&D and manufacturing, and non-profit sectors. He has an outstanding track record in establishing financial turnaround and restructurings for more established entities as well as implementing financial controls, processes, and organization for startups.

In his career, Paul has led financial, accounting, IT, real estate and facilities, human resources, legal, risk management, and regulatory compliance functions at both private and public organizations, domestically and internationally.  His prior roles include the CFO of Better World Books, an Atlanta-based e-commerce company and the CFO of The Boys & Girls Clubs of America, a $1.8B youth-serving federation.

Paul’s wealth of experience, coupled with his Certified Public Accountant and Certified Management Accountant qualifications, are essential assets that have enabled him to excel as a Chief Financial Officer.

TechCXO is a pioneer in providing fractional, part-time, and interim executive services, was founded in 2003 and has served over 7,000 clients, including some of Atlanta’s most valuable startups.

Congratulations to Paul Sansone and all 2024 Titan 100 honorees for their admirable achievements.

Read the full press release here.

Fractional Leadership is Hot in 2024… and That’s a Problem

Fractional Leadership is Hot… and that’s a problem

Single-shingle freelancers, staffing firms, and online marketplaces are trying to repackage themselves as Executives on Demand

How to Quickly Evaluate the Quality of Fractional Executive Firms

A business blog recently declared, “The Future is Fractional,” and fractional leadership is “in”. 

Startups and growth companies are embracing the concept of leveraging interim, part-time, and project-based leadership. Companies understand that they can upgrade the experience and talent level of key executives and functions while paying less than the loaded salary of a full-time executive. Better to have a fast-moving superstar as your CFO, CTO, COO, CMO, or CHRO for 10 or 20 hours per week, the thinking goes.

The problem is that with an uncertain business climate in 2024, the market is being flooded with freelancers, single-shingle consultants, staffing firms, struggling life coaches, and unemployed middle managers repackaging themselves as fractional executives. 

Here are four ways to quickly evaluate the quality of the fractional executive you’re considering for your business.

1. Define the “Executive” – A manager, director, or vice president is not a c-suite executive. The experience, decision-making, leadership, and skills of successfully guiding multiple organizations through big strategic decisions are very different than being a middle manager or lower-level executive. Unfortunately, a rash of corporate layoffs is pushing many directors and VP-level employees into the consulting ranks. Dig in on bio pages, LinkedIn profiles, and CVs to evaluate the depth of executive experience being presented.

Consultants are notorious for overstating their abilities. Many consultants at prestigious firms will present themselves as serving in an executive capacity; however, many of these people were plucked off the “MBA farm” without ever working inside companies, let alone leading in a C-suite capacity. TechCXO, for example, requires that every one of its partners has demonstrated success as a C-suite executive at multiple organizations. 

Freelancers who may be fine implementers might also present themselves as executives. While good fractional executives are “doers” and solid execution people, they also understand strategy and how initiatives fit into overall objectives, positioning in a competitive landscape, and support a unique value proposition. If you suspect your resource is a freelancer, ask a series of broad-based questions about customer segments, pricing strategies, and delivery channels. Then, listen closely. 

2. Define “Success” – Executives generally agree that the objective of a business is to eventually sell it. When evaluating a fractional executive, look to see if they were integral to a team that had several successful exits, IPOs, capital raises, and other M&A activities. 

The contributions of marketing, sales, product, tech, and HR people may be a bit harder to quantify than an exit, but seek out hard numbers for product launches, customer/revenue increases, profitability, and ways the entire organization was impacted by an executive’s efforts. 

Client quotes and testimonials are great, but they don’t necessarily communicate the scale of the work provided. Instead, look for true use cases and success stories with some level of complexity that took place over a number of quarters. Try to spot truly transformational work that scaled an organization, turned around a stubborn problem, or opened up new markets. Ask if you can speak directly with those clients, too. 

3. Define the “Team” – Small teams or single-shingle consultants may try to hide the scope of their organizations by not publishing team bios. Be on guard for that on the firm’s website. Some unscrupulous marketplace traders who talk about only 2% of their applicants make the cut, use fake bios to present a false sense of scale. They quite literally reuse photos and bios to present a “team.”

Check bios and the breadth of an organization. A level of scale demonstrates success. You don’t want to get caught in a situation where you are relying on a single company founder or one or two principals. They may be a startup organization themselves and all the dangers of time constraints, inadequate bandwidth, cash flow, or other disruptions.

Search and staffing firms may talk about their extensive “networks,” but they are in the business of plugging one or two resources into a hole. That approach does not constitute a team with a bench. Also, executive search and staffing firms are marketplace-brokered resources (found online) vs. referred, vetted, collaborative partner-quality professionals. Many specialty consulting firms are owned by exec search firms offering fractional and interim work, but do not have cross-discipline teams and resources. That can get expensive and blow up the cost-efficiencies you are anticipating.

For example, you don’t want a CFO-level executive handling your Accounts Receivables and Payables. You’re overpaying for that resource. You want to see a mix of talent at different levels and rates that might include a VP of Finance, Controller, Accounting Managers, and AR/AP coordinators.

Similarly, you wouldn’t want a CTO to be doing all your security, development, coding and project management work or your CHRO to directly do your recruiting and compliance work. A team with a blend of talent and rates is a good indicator of a well-established and high-functioning firm that can provide real-time and cost efficiencies.

4. Look for a Variety of Delivery Models – The classic monthly retainer arrangement or project-based pricing is familiar, but they also show a great deal of limitations. Freelancing, staffing, and firms with limited resources and delivery people are often locked into those models. 

A true executive on-demand firm has greater flexibility. It may discount rates up front for warrants and equity on the back end. It may offer a mentoring and coaching model. It may also offer specific, time-constrained training options. 

In a company’s lifecycle, they may need to push hard on recruiting talent but then may need to pivot to lead generation, sales and growth, or perhaps to raise capital. A multi-discipline executive on-demand firm can provide those resources and shift priorities and spending to the client’s needs. 

Fractional leadership may well be “in” for 2024, but for those firms who have been providing this unique model and approach, it’s been in style for decades.

Overcoming the #1 Obstacle for Newly Promoted Senior Executives

Promoting team members to senior leadership positions is a significant achievement that showcases their performance and potential. It not only rewards their hard work but also demonstrates a commitment to further develop top talent, inspiring others in the organization. However, despite possessing the necessary functional skills, a track record of getting things done, and management experience, many newly promoted executives struggle to succeed in their new roles.

At TechCXO, our executive coaches are called into many situations where the new executive is struggling, feeling overwhelmed, and having issues dealing with the pressure and stress of the new role. In our experience, we’ve identified and believe the primary reason behind their failure: fear of failure itself.

Understanding the Culprit

Fear of failure is a completely normal and predictable response when individuals are thrust into unfamiliar and high-pressure situations. This fear often manifests as a nagging thought of “don’t fail” that constantly haunts their conscious and subconscious minds. It stems from the innate human desire to prove their worthiness and avoid any actions that might expose their vulnerabilities or jeopardize their new position.

Pitfalls Driven by Fear

The fear of failure can lead to two common scenarios. In the first scenario, new executives become hesitant in decision-making, second-guessing themselves and failing to assert their voices in senior team meetings. This overwhelming stress can paralyze them, impeding their ability to perform their responsibilities effectively.

In the second scenario, executives overcompensate by becoming aggressive, defensive, and siloed in their decision-making, which creates dysfunction within the senior team and isolates the new executive from their colleagues.

Resistance to Help

Even when support or mentoring is offered by peers and leaders, the fear of failure often prevents new executives from accepting assistance. They fear that seeking help might be perceived as a sign of weakness, potentially undermining their credibility. Consequently, they resort to toughing it out and adopting a “fake it until you make it” mentality. However, this approach becomes increasingly challenging under mounting pressure, making success almost impossible.

Hope is Not a Strategy

While fear is an inherent part of the human experience, effective support is crucial in helping newly promoted executives navigate their fears and succeed in their roles. Relying solely on hope and expecting them to figure it out on their own is a recipe for suboptimal outcomes. It is essential to proactively provide support and guidance to mitigate the negative impact of fear.

Here are a few tips that companies can employ to maximize the success of the newly promoted executive.

Putting Fear in its Place

Fear should be acknowledged as a risk detector rather than a predictor of failure. To support newly promoted executives, it is crucial to help them differentiate between genuine risks and irrational fears. This can be achieved through education, building emotional intelligence, and improving communication skills. Although it requires effort, significant progress can be made in managing fear’s influence.

How to Support the New Executive

To ensure the success of newly promoted executives, a comprehensive support plan is necessary. This plan should include internal support from senior team members, immediate supervisors, and HR leadership. Additionally, we strongly recommend engaging an external executive coach who can provide unbiased guidance and a confidential space for the new executive to work through their fears and challenges.

Effective Communication and Support Structure

Open communication is essential from the beginning. Inform the new executive that fear of failure is universal and discuss the potential pitfalls they may encounter. Establish a regular schedule of one-on-one sessions involving both internal and external support teams and commit to the schedule.

Ground rules should be established to promote a judgment-free environment, emotional security, and encourage vulnerability. These sessions should focus on clarifying the difference between stress and actual problems, fostering confidence and clarity.

Lead by Example

Addressing the fear of failure should not be limited to the new executive alone. The entire senior executive team must be aware of their own behaviors that may contribute to the new executive’s stress. By managing their own fears, demonstrating emotional intelligence, vulnerability, and seeking help when needed, the senior team can create an environment where the new executive feels supported and open to accepting assistance.

Conclusion

Fear of failure is an omnipresent force that can either be harnessed positively or become a destructive obstacle for newly promoted executives. Companies that fail to provide a robust support plan for these new executives are likely forced to replace them within 18 months. The economics of lost productivity, recruiting fees, internal disruption, and failure to meet objectives is more than enough to encourage senior teams to put fear in its rightful place.

By following the recommended tips, such as proactive support, open communication, and establishing a strong support structure, organizations can significantly increase the likelihood of their new executives’ success, contributions to the senior team, and overall impact on the company.

Email Matt| LinkedIn

AI with a purpose: Driving Success through Actionable Intelligence

Recently companies have been asking for assistance regarding where to start their AI journey. Which is understandable with all the hype around AI and the continuous ads about the latest and greatest capabilities it’s hard to determine where to start. Unfortunately, many of them rush to implement AI tools without understanding how they will integrate with their existing solutions, what key decisions will they enable, and most importantly how they will help drive growth. As a result, they end up with very impressive new AI powered solutions but are not realizing the business value from the insights/improvements they were designed to deliver.

In the rapidly evolving world of software solutions, delivering actionable intelligence is increasingly critical. Actionable intelligence refers to the ability to collect, analyze, and present data in a way that empowers data-driven decisions with a focus on providing meaningful insights and recommendations that can be acted upon immediately. Resulting in increased success for individual users and growth for businesses.

As with many operations-focused projects start with the end in mind. What data do you need to optimize growth for yourself or your customers? And where can AI deliver the data as actionable intelligence. Here are examples of where you can start and quickly realize value:

  • Improved Decision-making: Enable users to make more informed decisions based on real-time insights leading to better outcomes, increased efficiency, competitive advantage, and reduced risks. For example, evaluating overall customer sentiment to help drive product market fit.
  • Enhanced User Experience: Providing relevant information in a concise and accessible manner empowering users to quickly identify trends, anomalies, and opportunities, facilitating faster and more accurate decision-making. Such as engagement and intent data to help sales and marketing teams decide where to focus for optimal results.
  • Operational Efficiency: Streamline processes and improve efficiency by automating data analysis and presenting information in a user-friendly format allowing users to focus on critical tasks and eliminate the need for manual data processing. Using Chatbots and Conversational AI to help customers get answers 24×7 to common questions improving customer response times while reducing the workload on customer service reps.
  • Proactive Issue Resolution: Monitoring key metrics and delivering real-time insights to identify potential issues or anomalies early on enabling users to take proactive measures to resolve problems before they escalate. Using tools to help achieve uptime reliability by continuously scanning systems, networks, and processes for inefficiencies, potential disruptions, and to identify any looming threats.

In summary, carefully selecting and implementing AI tools based on the actionable intelligence that will be delivered is no longer a luxury but a necessity for businesses seeking to thrive in the ever-evolving digital age.

TechCXO Exec Operations team can help you ensure you are focused on the actionable intelligence that will result in maximum positive impact to your business and more importantly your clients. Schedule time with us to discuss the strategies for starting your AI journey and what to consider.

The Critical Role of Product-Market Fit in Growth Optimization

Software companies continually strive to achieve sustainable and scalable growth that drives revenue, expands their user base, and solidifies their position in the market. At the same time, software buyers, in most cases, do not contact sales representatives until they have done their own research via reviews, testimonials, case studies, and talking with friends and colleagues. As a result, in today’s increasingly competitive market, one critical factor often determines the success or failure of growth optimization efforts in early and growth-stage companies: product-market fit.  

Software product-market fit represents the alignment between a software product and its target market. It signifies the degree to which the product effectively addresses the pain points, needs, and preferences of the intended users. When a software product achieves a strong product-market fit, it delivers exceptional value, enjoys high user satisfaction, and experiences rapid growth.

The Impact of Product-Market Fit on Growth Optimization:

  • Accelerating Revenue Acquisition: A software product that fits its target market is most attractive to potential users as it continually displays its value proposition, resonates with user needs, and establishes a compelling reason for users to adopt and engage with the product. This leads to increased user acquisition rates as satisfied customers recommend the product to others, refer friends, or share positive reviews and experiences. A strong product-market fit fuels organic growth and helps with profitability by lowering user acquisition costs.
  • Enhancing Retention and Engagement: When a software product genuinely solves users’ problems and delivers a superior, intuitive experience, it fosters long-term loyalty. Satisfied users are more likely to stay engaged, become power users, and advocate for the product. 
  • Fueling Revenue Growth: A well-aligned product attracts a target audience willing to pay for the value it provides. Users who understand the value of the product and see it as a “need to have” solution are more likely to become long-term paying customers or subscribe to premium features or services. A strong product-market fit allows for effective pricing strategies that maximize revenue while maintaining user satisfaction. 
  • Enabling Scalability: A well-addressed target market allows companies to focus on scaling their operations, investing in marketing initiatives, and expanding into new markets with confidence and without sacrificing profitability.
  • Informing Data-Driven Decisions: Through user feedback, analytics, and market research, companies gain a deep understanding of user preferences, pain points, and behaviors. This knowledge helps optimize growth strategies, prioritize feature development, and identify opportunities for product expansion and deeper market penetration. 

Product-market fit is an increasingly critical factor in growth optimization for software companies and acceptance by software buyers. It serves as a foundation for accelerated user acquisition, enhanced user retention and engagement, increased revenue growth, and scalability. By striving for a deep understanding of the target market, actively seeking user feedback, and continuously iterating the product based on customer insights, software companies can achieve a strong product-market fit that fuels sustainable and scalable growth, setting both software companies and software buyers on the path to longer-term success.

TechCXO’s team of experienced Executive Operations partners can help you determine the best strategies for optimizing your growth through product-market fit. Schedule a call with us to learn how we can help.

Download a Quick Product/Market Fit Guide

Product-market fit is an increasingly critical factor in growth optimization for vendors and acceptance by buyers. It serves as a foundation for accelerated user acquisition, enhanced user retention and engagement, increased revenue growth, and scalability. Click to download a quick, two-page guide that includes an initial phase and follow-on keys.

The Strategic Imperative: Why CFOs Should Care about Revenue Operations

In my 35-year career in a variety of revenue-generating roles, I have rarely found 2 corporate functions with less mutual understanding than sales and finance.  Much has been made over the last 20 years about the need to bring sales and marketing together, and today those two engines for customer acquisition seem (generally) to be getting along much better.  But the friction between sales and marketing was always rooted in competition, not a lack of appreciation for what each group does.  The gulf between sales (or sales and marketing collectively) and the finance function is different.  In my view, the two groups often have a deep misunderstanding of one another and what each function is charged with accomplishing on behalf of the company.

Obviously, these are extreme examples of what sales and finance professionals would actually say about the other, but I believe the sentiments are broadly accurate.  The good news is that the growing field of Revenue Operations (or “RevOps”) can help bridge the chasm. 

First, a brief description of Revenue Operations.  It is a strategic approach that integrates the sales, marketing, and customer success functions to streamline processes and improve overall revenue performance.  It typically focuses on data interpretation, process and methodology, training and enablement, and management of the tech stack used by the revenue functions.  In a nutshell, RevOps provides an infrastructure that allows for easier creation of new revenue.  

Done properly, a RevOps function can benefit the office of the CFO in a number of ways: 

1. A 360-degree view of the entire revenue cycle

RevOps will enable CFOs to understand how different departments contribute to revenue generation and identify areas for improvement. By taking a holistic view of revenue, CFOs can align financial goals with the company’s overall growth objectives, ensuring that each department is working cohesively towards the same targets.

2. Enhanced Data-Driven Decision Making

Revenue Operations team leverage data analytics and technology to gain insights into customer behavior, market trends, and sales performance. This work is additive to the extensive work that CFOs do around bookings and revenue performance and can further enhance the CFO’s ability to make informed decisions about resource allocation, investment opportunities, and revenue forecasts. 

3. Improved Forecasting Accuracy

One of the critical challenges for CFOs is providing accurate revenue forecasts. Revenue Operations implements standardized processes and metrics across sales, marketing, and customer success, providing a consistent and accurate picture of revenue generation. 

4. Enhanced Cost Efficiency

Revenue Operations is responsible for reducing friction points in the revenue generation process.  To do that involves optimizing marketing and sales tools, raising the efficiency of sellers, and minimizing customer attrition.  While these activities will increase revenue, they will also provide opportunities for  cost-saving measures that can be implemented without compromising revenue growth. 

5. Scalable Growth Strategy

For any company aiming for sustainable growth, scalability is a crucial consideration. Revenue Operations ensures that growth is both manageable and sustainable by providing a clear roadmap for expansion. CFOs can use Revenue Operations insights to understand how growth will impacts different elements of the revenue generation engine. 

Revenue Operations is a critical component of successful and sustainable business growth. As the custodian of a company’s financial well-being, CFOs can’t afford to overlook the potential benefits that Revenue Operations brings to the table. By taking a proactive interest in Revenue Operations, CFOs can drive strategic decision-making, enhance forecasting accuracy, and foster financial success for their organizations. 

If you are a finance leader who would like to know more about Revenue operations, or if your organization needs assistance in building or developing a robust Revenue Operations function, please click the link below to schedule a free 30-minute call with a Revenue Operations expert from TechCXO.

Email Bert | LinkedIn | Download Bert’s CV (PDF)

Harness the Momentum of Revenue Operations: Unify Marketing, Sales, and Customer Success

Fostering revenue growth is now a team effort rather than the sole job of the sales team. It’s helpful to visualize revenue growth as a bucket – marketing opens the tap,  sales fill it up, and customer success ensures no leaks from the bottom. It’s a balanced process, a harmonious symphony.  

Progressive organizations have reimagined their revenue-generating functions – Marketing, Sales, and Customer Success – as a coordinated, cohesive powerhouse. Moving beyond the age-old attempts to “align the sales and marketing teams,” companies increasingly understand that the best way to drive revenue is to improve every aspect of a customer’s journey. How a company attracts prospective customers (marketing), wins over new customers (sales), and then enables and ultimately retains customers (customer success) is the ultimate formula for growing revenue.

For validation of this approach, look no further than your television. Subscription services like Netflix have rocketed to growth by understanding that getting a customer’s interest is only the beginning of the revenue journey. Gaining a subscription and keeping that customer from unsubscribing are crucial pieces of the revenue puzzle. With B2B firms now focusing on the total revenue picture in much the same way, a new function has emerged—Revenue Operations (RevOps). RevOps aligns the revenue functions, fostering collaboration and optimizing the overall revenue-generating journey. 

In this blog post, the first of a series, we will serve you a triple treat – the consolidated wisdom of three veterans of the essential revenue functions. With over 50 years of collective experience leading Marketing, Sales and Customer Success organizations, our authors are now collaborating with dozens of clients to build and improve their RevOps functionalities. Through the prism of each revenue function, we’ll unveil how to morph these historically siloed organizations into a dynamic, high-performing RevOps entity. To start off, let’s outline what we believe to be the six key areas of focus for any great RevOps team.  

1. Metrics: The North Star of Revenue Operations

At the heart of RevOps lies the use of comprehensive and meaningful metrics. By establishing shared key performance indicators (KPIs) across marketing, sales, and customer success teams, RevOps instills a unified vision of success. These metrics include revenue, customer acquisition cost (CAC), customer lifetime value (CLTV), conversion rates, and other performance indicators that provide actionable insights for informed decision-making.

2. Process & Methodologies

RevOps advocates for the standardization and optimization of revenue-generating processes. It involves mapping the buyer’s journey, identifying friction points, and implementing streamlined workflows to enhance efficiency and collaboration. By aligning processes, such as lead management, opportunity tracking, and customer onboarding, RevOps eliminates silos and ensures a seamless experience for customers across all touchpoints.

3. The Revenue Tech Stack

RevOps leverages technology to empower teams and drive revenue growth. The revenue tech stack comprises a suite of tools, such as customer relationship management (CRM) systems, marketing automation platforms, sales enablement software, analytics, customer engagement tools, and more. Integrating these technologies enables data-driven decision-making, automates repetitive tasks, and provides the overall revenue organization with vital insights to propel revenue.

4. Training & Enablement

RevOps recognizes the importance of equipping teams with the right skills and knowledge to excel in their roles. Training and enablement programs ensure that marketing, sales, and customer success professionals have a thorough understanding of their customers, products, processes, and the tools at their disposal, fostering collaboration,  adaptability, and consistent value delivery to customers.

5. Customer Messaging Alignment

Synchronizing customer messaging across marketing, sales, and customer success teams ensures a cohesive and seamless experience for customers at every touchpoint. This alignment enables teams to deliver targeted and personalized content, understand customer needs, and address pain points effectively, resulting in increased customer satisfaction and loyalty.

6. Continuous Improvement Programs

Mature RevOps teams emphasize a culture of continuous improvement. By anchoring on key metrics, organizations can identify areas for enhancement, iterate on processes, and experiment with new strategies. Continuous improvement programs encourage cross-functional collaboration and empower teams to test and implement innovative ideas that optimize revenue generation and customer experiences.

By focusing on the six key elements—Metrics, Process & Methodologies, the Revenue Tech Stack, Training & Enablement, Customer Messaging Alignment, and Continuous Improvement Programs—businesses can unlock greater synergy, improved customer experiences, and accelerated revenue growth. Embracing Revenue Operations is a strategic game-changer that propels companies to the forefront of today’s competitive landscape, enabling them to flourish in an increasingly customer-centric and data-driven world.

At TechCXO, we boast the expertise and experience to guide you in building or enhancing your RevOps functionality.  If you’re intrigued to learn more about our approach and service offerings, please click here to schedule a 30-minute discussion with one of our experts.  We’re excited to connect with you!

TechCXO Celebrates 20th Anniversary

TechCXO Celebrates 20 Years of Revolutionizing Executive Leadership On Demand

The Pioneer in Fractional, Part-Time and Interim Executive Services Has Served More than 7,000 Clients and Supported Over $6B in Transactions

ATLANTA, GA (June 13, 2023) –TechCXO, the leading provider of part-time, fractional, and interim executive leadership to fast-growing companies, is proud to announce its 20th-anniversary celebration. Since its founding in 2003, TechCXO has been at the forefront of providing proven executives with the expertise and experience needed to drive growth and success for its clients.

“TechCXO has been changing the game in fractional executive leadership for two decades, and we are thrilled to mark this milestone,” said Kent Elmer, Managing Partner of TechCXO. “Our team of experienced operational executives has helped countless companies achieve their growth goals, and we look forward to continuing to provide innovative solutions for our clients.”

TechCXO was founded in 2003 on the premise that companies can benefit from having the best executive talent available and serving as their CFOs, CTOs, CSOs, CMOs, CROs, COOs, CHROs and other executives on a part-time or project basis. Companies might not otherwise be able to access the talent and experience level of a TechCXO partner and teams due to cost or availability.

TechCXO has assisted more than 7,000 clients in its history. In addition to executive support, companies can also outsource their entire Finance, Sales & Marketing, IT, HR and Operations functions to TechCXO for 50-75% less than it costs to staff full-time, loaded salaries. All TechCXO partners and staff are U.S. and U.K.-based.

Earlier this year, TechCXO announced that it has surpassed $50 million in annual service fees in 2022. The firm is poised to continue its growth trajectory and has put in place its new regional leadership team.

In March of this year, TechCXO introduced CXO Partners, a new services firm specifically focused on providing accomplished interim executives to middle market companies in the $30M-$500M-plus range.

Mike Casey, TechCXO’s co-founder and Managing Partner – Finance, is leading CXO Partners as its new Managing Partner. The CXO Partners leadership team has accomplished operating partners serving as interim C-suite executives for the middle-market.

About TechCXO
TechCXO is a pioneer in providing high-potential companies across the country with industry-relevant interim, part-time and fractional executives on-demand. More than 7,000 companies, from startups to the Global 1000, have entrusted TechCXO to help with their critical functions by calling on TechCXO executives as their CFOs, CEOs, COOs, CSO, CROs, CTOs, CMOs, CHROs and other executive roles. TechCXO’s major practice areas are: Finance & Accounting, Product & Technology, Revenue Growth, Human Capital and Executive Operations. For more information about the firm, please visit https://www.techcxo.com

Focus On Your MVA: Minimum Viable AUDIENCE

Founders and product leaders at startups and early-stage companies know all about the need to build MVPs — minimum viable products — at the beginning stages of their company trajectories. Before loading on additional benefits and use cases, start with a version of your product with just enough features to be attractive to and usable by a specific early customer. This helps validate your product, create initial revenue, and develop a feedback loop for insights to guide future product evolution opportunities. Focus your efforts on the MVP, make it successful, and then start building and scaling.

So why do so many of these early-stage companies take the opposite approach to the segmentation and marketing of their products? I can’t tell you how many times I have seen companies in these early phases targeting their product to multiple disparate audiences. They throw them all against the wall and see what sticks, adding varied audiences to their pitch decks, their website, and their collateral.

For example, I’ve worked with healthcare start-ups that target providers, patients, payors, employers, and beyond — all at once. It’s almost easier to identify whoM they don’t target vs. who they do.

Now, you might think it makes sense to appeal to as many different types of customers as you can at first to keep your options open and to see what works. Or that excluding anyone who might be interested in your product would mean losing a potential sale.

But the truth is, this un-focused approach creates a number of big problems.

Firstly, to put it bluntly, it’s a lazy approach to strategy. Being strategic is all about making choices about your actions. As economic theorist Michael Porter says, the essence of strategy is choosing what not to do. By choosing not to choose, you’re not being strategic.

Secondly, different audiences will have different needs, preferences, and customer journeys — so a one-size-fits-all approach will fail.

It’s unlikely that early-stage companies can take the time to fully understand these different consumers. But it’s especially unlikely they can create different types of messaging and offerings to get all these different types of consumers to consider and buy from them.

Which leads to the last, and most important problem this unfocused targeting approach creates: It diffuses a company’s already limited and strained resources. Because both time and money are especially scant, developing strategies and assets for multiple audiences is likely unaffordable.

Instead, startups should begin by focusing on MVAs: minimum viable audiences. Identify the best target for your product who can help you begin to build your business. This is the group that represents the most attractive segment, which can be accessed most easily with your current product and company, and that offers enough revenue to grow the business.

Then ruthlessly learn about, understand, and build a marketing system to engage your MVA. And for now, disregard the multiple different audiences who could also be targeted, just as you have the myriad other attributes you could have added to your MVP. With this strategic prioritization, you are ready to drive more powerful and effective marketing and revenue generation.

Email Michael | LinkedIn | Download Michael’s CV (PDF)

Celebrating TechCXO’s Female Leaders

Leadership takes many forms, but one common thread among TechCXO’s female partners is their commitment to mentorship, curiosity, and helping organizations grow through people, strategy, and innovation.

In recognition of Women’s History Month, we asked several of our leaders to reflect on the lessons that shaped their careers and the advice they offer to the next generation of women in business and technology.

Their perspectives span human capital, finance, operations, technology, marketing, and revenue growth, reflecting the breadth of leadership that powers TechCXO’s fractional executive model.

Human Capital

Maria Goldsholl

Human Capital Managing Partner, CHRO

Some of the most rewarding opportunities in my career were the unplanned ones I was curious enough to explore. At times, I even stepped back in pay or title to gain experience that interested me. My advice is to stay open to opportunities outside your plan. Careers rarely follow a straight line. They look more like a series of squiggly lines that give you room to learn and grow. And above all, be trustworthy and generous with others. I’m a big believer in career karma.

Learn more about Maria

Kerri Anthony

Fractional CHRO

Throughout my 20+ year career, I have been given the gift of working with truly incredible female leaders and mentors. They’ve profoundly shaped how I work and how I live, and I am forever grateful for their guidance. It’s always a good time to reflect on those people in our lives who’ve inspired change, broken barriers, and invested in other women. But Women’s History Month is perhaps an ideal moment to remind ourselves to make time to nourish relationships with other women, to invest in them, to encourage and inspire them, and to lift them up. We are in this together, and we can do amazing things when we support each other.

Learn more about Kerri

Brantley Fry

Fractional Chief People Officer

My career has taken an unconventional path from practicing law to public service to leading people and culture transformations inside complex organizations. As a woman in leadership, I’ve learned that the most effective leaders don’t try to fit a mold. They lead with curiosity, courage, and a willingness to challenge the status quo. My advice to other women is to trust your instincts, bring your full perspective to the table, and don’t be afraid to take an unconventional path. Today, I bring these lessons into my work, helping CEOs and leadership teams build people-first organizations where culture, strategy, and execution align to drive lasting success.

Learn more about Brantley

Executive Operations

Dr. Stephanie Rose-Belcher

Fractional CEO, COO

Throughout my career in healthcare and SaaS, and now as a CEO and COO, I’ve learned that strong operations leadership requires both discipline and empathy. The best results come not just from systems and data, but from investing in the people behind them. As a leader, I focus on helping teams master their craft while maintaining balance. I believe influence comes from expertise, continual learning, and staying authentic while developing the next generation of leaders.

Learn more about Stephanie

Finance

Karen Reynolds

Fractional CFO, M&A Advisor

At one point in my business career, I had a female peer challenge me to get out of my comfort zone. That push taught me not to limit myself, and it allowed me to gain confidence through new experiences. Let’s continue to provide a “push” to the female professionals in our lives to get out of their comfort zone and do the unexpected – their future achievements will be limitless.

Learn more about Karen

Product & Technology

Katie Reilly

Fractional Chief Product Officer

Being a woman in technology can be tough at times. I encourage young professionals to lean on (and learn from) the amazing women who have paved the way for successful careers before us! I am a strong supporter of mentorship programs. I truly value the impact my first mentor had on my career, and I cherish opportunities to coach and mentor others just getting started as a way to pay it forward. Mentorship helps break down barriers, and women in business are an unstoppable force!

Learn more about Katie

Revenue Growth

Rose Lee

Fractional CMO, CCO

Being a woman in the technology industry can be challenging at times, as it is a male-dominated field with certain stereotypes and biases that can create barriers to entry and career advancement. At times, it is necessary to consistently work smarter and harder to achieve my goals. With the support of mentors, allies, and advocates, women can overcome obstacles and succeed in the technology industry, paving the way for future generations of women to follow in our footsteps.

Learn more about Rose

Katherine Hunter-Blyden

Fractional CMO

My advice to women in leadership is to focus on your capabilities rather than your limitations. You don’t need to personally solve every problem, nor should you try to. Instead, tackle the challenges within your wheelhouse, and for everything else, be the one who finds the right resources. You bring immense value simply by being a connector and a resource for your clients.

Learn more about Katherine

Amanda Donnelly

Fractional CMO

While marketing tends to skew female, I’ve spent much of my career working in male-dominated spaces and have been the only woman in the room more times than I can count. The dynamic is improving, but access to resources, even something as basic as encouraging girls to explore math, science, and technology, is still limited in many communities. That’s why I focus many of my engagements on female and minority-owned businesses. Access to resources is often the biggest barrier, and being able to offer guidance as someone who has been there is central to both my personal and professional values. We have to lift each other up to thrive.

Learn more about Amanda

Carrie Pastolove

Fractional CMO, CRO

I’m a creative, data-driven marketing executive and Fractional Chief Revenue Growth Expert who helps organizations grow with clarity and impact. With experience across consumer goods, healthcare, technology, nonprofit, and lifestyle sectors, I bring a cross-industry perspective to scaling brands, repositioning businesses, and strengthening audience engagement. By blending creativity, data, digital transformation, and AI-driven insights, I build strategies that are both human and high-performing. I’m passionate about purpose-driven leadership and helping teams navigate change with clarity and collaboration, because great marketing is rooted in authenticity and connection.

Learn more about Carrie

Rhonda Willingham

Fractional CRO, CMO, CSO

In my work as a fractional C-suite leader, I’m often brought in after a healthcare product or solution has been developed but isn’t gaining traction. The challenge is rarely the innovation—it’s ensuring the solution is clearly tied to a problem healthcare leaders recognize and need/want to solve now. Drawing on both a clinical background and a commercial lens, I help teams align clinical value, stakeholder incentives, and market reality so adoption can follow. In a fractional role, that impact often comes through influence rather than authority.

Learn more about Rhonda

Virginie Glaenzer

Fractional CMO, CRO

Women’s History Month is deeply personal for me. It reminds me that every generation of women builds a little more possibility for the next. Seeing young women, like my two oldest daughters, step into leadership with confidence gives me tremendous hope for the future.

My advice to women entering this field is simple: trust your perspective and build strong networks of support. And for leaders, the data is clear: companies with gender-diverse leadership are up to 27% more likely to outperform. Advancing women into leadership isn’t just about fairness; it’s a proven way to build stronger, more innovative, and more profitable businesses.

Learn more about Virginie

Internal Leadership

Nicole Siokis

TechCXO COO

I started my career in the US Army, clearly a male-dominated profession, where I often found myself to be one of the very few women in the room. With women making up less than 20% of our armed forces, it was never lost on me that there were trailblazers who had come before me, who fought hard so that I, too, could serve my country. Since leaving the military, I have been fortunate to be surrounded by strong, smart women who lifted each other up and who reached out a hand to help other women climb the ladder alongside them. These women I know push boundaries, speak up and speak out. They have a valiant spirit that all of us should pass on to future generations of young, professional women.

Learn more about Nicole

Connect with a TechCXO Leader

Looking for experienced executive guidance? Our partners bring decades of leadership across finance, marketing, technology, operations, and human capital. Let’s talk about how TechCXO can support your next stage of growth.

Schedule a 15-Minute Call

Fractional Executives During Crisis

During A Crisis, Your Fractional CFO Morphs into a Platoon of Experts

With the right firm, fractional executives quickly extend expertise exponentially

TechCXO and The SVB and PPP Use Cases

In crisis, conflicting information, rumors, speculation — even panic — reign. The ability to find reliable, actionable information is at a premium. In a fractional executive model, a business can quickly turn a quarter or half of a CFO, COO or CTO into 50 experienced, coordinated executives.

SVB & 40 Hours

The Silicon Valley Bank collapse happened in less than 40 hours.  On the night of Wednesday, March 8, SVB publicly announced it was seeking capital to stem concerns about liquidity. By Noon of March 10, federal regulators informed the market and public that SVB had failed and was placed into receivership.

If you banked with SVB or knew someone who did, you knew the mad scramble and chaos that ensued by senior executive teams, CFOs, Controllers and Boards in those days to (1) Get a balance statement of how much was held there, particularly if it exceeded the $250,000 FDIC protection limit;  (2) Find another institution willing to quickly secure your money in a new account; and (3) Get money wired out of the failing banks and into the new institution(s).

The cost benefits of a fractional executive are well known. What’s less well appreciated is how an organization such as TechCXO can exponentially increase access to expertise, information, and connections quickly

At the height of the crisis, conflicting information about slowed down or shut down wire out processes was swirling. There were rumors of FDIC and Federal Reserve intervention, loan deals from “white knights” to rescue SVB and shore up depositors, liquidation of SVB’s Treasury Securities to serve as a dividend for depositors, and even an FDIC portal and hotline to file claims. During all this, trading on First Republic, Signature Bank and Western Alliance halted, adding to the nervousness of full-on banking and financial systems meltdown.

Within hours, TechCXO’s 50+ CFOs from around the country had solid, actionable information, and were quickly separating rumor from fact, including:

  • VCs and the LPs (Limited Partners) for many tech portfolio companies were indeed having difficulties with wire out processes. Loan deals in process were likely at risk.
  • Reliable sources said plans to raise capital to save SVB were not successful
  • Updates regarding FDIC phone numbers and claims portal, along with instructions
  • Options to diversify to a secondary bank or to secure a new primary bank were recommended, including reliable references and contact info for specific representatives.
  • Real-time updates related to accessing accounts and the status of wire payments, as well as alternative platforms in FinTech and Cryptocurrency, such as Bitcoin.
  • Posted warnings about fraudulent SVB websites
  • Even supplemental state-led insurance options above FDIC backstops were provided.

The Benefits of Connected, Networked Executives

The benefits of fractional executives in terms of cost savings is well-known, as are the perks of accessing a higher-level of executive talent than your organization might warrant in early stages. What’s less well appreciated is how an organization such as TechCXO can exponentially increase access to expertise, information, and connections quickly.

TechCXO CFO Partners quickly formed a Slack channel and a division of labor to gather information and filter it through a subgroup to be disseminated to all partners. It accessed its vast network of bankers, VCs and PE partners, accountants, company executives, lawyers and others to settle on a reliable set of facts from which to act. Even a large, enterprise-level companies that are well staffed don’t have this level of experienced C-suite executives that the TechCXO partnership represents. Also, new entrants to fractional and interim executive resources, such as large Executive Search firms, don’t have this connected, collegial bench of executives from which to draw knowledge.

PPP As Training Ground

TechCXO had been here before during the COVID outbreak and the subsequent opportunity — and confusion — surrounding The CARES Act Paycheck Protection Program (“PPP”) or 7(a) loans program, as well as the The Small Business Association’s Economic Injury Disaster Loan (EIDL) program, which provided small businesses with working capital loans of up to $2 million.

Similarly, there was much confusion about eligibility, requirements, and restrictions in a constrained time period. Then, as today, TechCXO pooled its intellectual capital and experience to quickly and reliably guide clients through the fog. One product was the decision tree (see graphic) that TechCXO provided its clients, vendors, partners, and colleagues to guide them through programs that were proper for them.

50 for the Price of 1/2

Fractional executives always make sense in times of recession, inflation, labor shortages and fast growth for accessing talent, realizing savings, and gaining efficiency. In times of crisis, accessing a platoon of proven, experienced executives through your one on-demand executive relationship may hold the greatest value of all.