What are the pros and cons to having an interim CFO or a CFO consultant?

The number one would be shipping product (or anything really) out in front of a customer. If you can't work together to get something done fast, that is usually a huge indicator that somethings wrong. That usually means your values or mission aren't aligned.

If the team has aspirations to build a venture backeable business (i.e. Raise money for equity), then of course you should ask. Ask the CEO if he has a ESOP (Employee Stock Option Plan), and if it's part of the compensation package. You're allowed to ask. As for the right person on Clarity, pretty much anyone in this list https://clarity.fm/browse/raising-capital/venture-capital Tom seems to be fast to respond.

I'm a feelance CFO and I work actively with early stage companies. I've been at this for almost 30 years. Some of my current and recent clients wrestle actively with this very questions. My advice is to have the tough conversations right up front, early in the team building process. This usually consists of answering questions like, "who's in charge and what does that really mean," "who gets how much of the company and when and in exchange for what," "what are you, you and you really bringing to the table in terms of skills and cash," and "who is really in a life situation that will allow them to sustain their commitment to the business?" Any team that can get through these questions can get through the trials of surviving startup. I'm happy to talk with you directly about these issues and, in particular, to help look at them through a strategic financial planning lens.

This is a typical problem with any start-up, i.e. intention to trade everything for equity. I am assuming that you're trying to trade equity for cash. In that case I would suggest you to look out for individuals with diversified skills and competencies. The reason being, less the number of individuals less the amount of equity that would be required to trade. Second option could be to look out for agencies to whom you could outsource the business process. I am not at all ashamed to mention that my own company is one such agency. However, my only piece of advice to to try and add some retainership component to your model, apart from equity, as in a long term it's easier for people to lose motivation in absence of any capital gains. The reason being, people don't understand the value of equity in startup. Rather, the time it could take for that equity to turn into something big; it may not happen as well. That's why they say there's nothing called free lunch. In my more than a decade experience working with entrepreneurs and helping them bootstrap, I have learnt that the market out there is crowded with individuals with a lust to join startup as a equity holder. In a short term, they may speak all those rosy language that may sound like coming directly from the Horse's mouth. But, in a long term you realize not everything is hunky-dory. As far as finding a co-founder or a CTO or any other executive team member is concerned, ensure that you put down the roles and responsibilities attached with each title. Apart from above, ensure that you communicate your expectation lucidly and understand the values everyone is required to bring on the table. Usual people who could be a good fit for you, apart from any agency, are people who aren't big on title. Is there anything specific you're looking at? Please feel free to revert with more clarity to receive clarity. I am just a call away. All the best!!

In my last two start ups I have invested heavier into my team than i have in the past and it has paid off big. Hiring an expert in their position has proven to be one of my most successful and stress free action in business. I will add this to my best practices. If you want to learn more about what I've learned and some resources on where to look, schedule a call now while my rates are discounted for the next 24 hours.