A speaker (Matthew Kelly) recounts learning that a company reached about $20 million in revenue without any finance person, linking the lack of dedicated financial management to business decline. The speaker says raising money prompted more focus on formal financial models, budgets, and planning, and observes many founders lack understanding of their business finances.
And then they told me that they never had a finance person in the team. And I was like, hold on. So you were doing at one point, like, 20 million in revenue and you didn't have a finance person of any sort? Yeah. I was like, well, that's probably why the business has fallen off. And that's like, you know, a summary of a lot of issues. But, yeah, I think since I raised money, especially not the only reason, but it pushed me to think more about, like, having a financial model and actual budget and planning and stuff, I guess a bit more. Yeah. I feel like a lot of founders just don't understand, like, the finance of the business. They're trying to build enough.
