106: Founder finance fails and how to fix them | James Segal of fin-house

James Segal co-founded finance-as-a-service house fin-house and has seen the inside of many startups. His post on 24 Founder Fails caught my eye, so we asked him on to the podcast to discuss them in more detail.

In a wide-ranging discussion, we talk about:

• Scaling too quickly;
• Forgetting about accounts receivable;
• The importance of modelling and stress testing;
• Confusing cash flow with profit;
• Over-optimising for short-term gains;
• Misinterpreting breakeven point;
• Misreading profit margins;
• What James sees in companies when he starts with them;
• When you need a CFO.

James’s experience from working with many small companies means he has seen all of these and more so he brings great insights. Enjoy!

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Links

Visit the fin-house website.

Get in touch with James on LinkedIn.

Read the 24 Founder Fails to Avoid on LinkedIn.

Suggested book

Good to Great by Jim Collins

James Segal is the co-founder of fin-house, a company specialising in providing flexible, in-house finance teams tailored to the needs of startups, scaleups and SMEs. Founded in 2021, fin-house supports businesses through their growth journey by delivering finance functions that evolve alongside them, integrating seamlessly into their operations. Prior to starting fin-house, James held finance leadership roles at Benchmark Sport International, Decathlon, and SynergyMode. He is a Chartered Accountant with the ICAEW and holds a BSc in Accounting and Finance from the University of Leeds.

Disclaimer

Please note this podcast/interview does not constitute a financial promotion and is provided for informational purposes and should not be construed as an invitation or offer to buy or sell any investments. Please be aware that investments into unquoted companies are high risk, long term and illiquid investments.  Your capital is at risk. Past performance is not a reliable indicator of future performance.  Target returns are not guaranteed and forward looking statements are illustrative only and must not be relied upon. Investors should only invest on the basis of reading the full offer documentation. Listeners must make their own independent decisions and obtain their own independent advice regarding any information, projects, securities, tax treatment or financial instruments mentioned herein.