A few years ago, I was on a coaching call with a young entrepreneur who wanted to start a Fractional CFO business focused on startups. She said she wanted to pick my brain about how I built mine. At the time, I wasn’t doing much peer-to-peer consulting, but she was early in her journey and I figured I’d have plenty to offer. So I said yes, and we booked the session. Most of the call went smoothly. I listened closely to her situation and offered plenty of ideas and advice. But then she asked a question that caught me completely off guard: "Where do you get your confidence?" It shook me because I didn't know how to answer. Because, if you think about it, this is a really weird question. Because it implies:
And none of those things are true. And it's also just not a useful way to think about it in this job. When you’re a founder, you are constantly asked to lead without guarantees. You make high-stakes decisions with incomplete data. You set the direction before you know how things will turn out. You say, “this is the way” without waiting for permission. If you think you need to deserve confidence before doing those things, you’ll hold back. You’ll play it safe. You’ll second-guess every move. And the truth is, you don’t need to. Confidence is not conditional. It's not a badge - it's just an emotion. One that nearly all of us feel from time to time. You don’t have to be perfect. You don't have to be the best. You don’t have to have a flawless record. You don’t need a degree from the “right” school or a certain number of years in the seat. You are just allowed to feel confident. At any time. Without proof. Without polish. Without permission. So where do I get my confidence? I don’t always feel it. But when I do, I get it from letting myself feel it. From enjoying it. And if you want to feel it more often? Try things. Fail. Survive. That helps too. Your Daily CFO, Lauren |
CEO-turned-CFO & finance instructor, Lauren Pearl, drops a daily tip that helps startup founders grow their businesses and control their destinies. Learn why this growing list with a 60% open rate led to LP being named top 25 Finance Thought Leader and host of the #3 CFO podcast for 2025
When you transition from being an employee to being a founder, You need to completely rewire your internal performance gauges. As an employee, you're rewarded for meeting or exceeding expectations. You can’t mess up. Your job is to impress your higher-ups. As a founder, the rules flip. Your #1 goal is to iterate as fast as humanly possible. Getting it right every time is completely unrealistic. Your job is to do as many things wrong, as quickly as possible, in hopes of finding the one thing...
Why is the activity of building a financial model so transformational for founders? Because learning how to build a financial model Is akin to learning how to read. And building one for your own startup Is like reading the instruction manual On how your business works. Your Daily CFO, Lauren
"When I first started my business, I made a little simple financial model. It really wasn't impressive, but I could use it at least to track what was going on. Then I hired a Fractional CFO. They completely rebuilt my model and now it's much more sophisticated. Which is great, only now I have no idea how to use it. Now I just rely on them to run it and tell me what's going on. I have to ask their "permission" if I want to add anything to it, But mostly, I sorta just stay away from it." This...