Case studies  /  The CFO persona
CFO PERSONA · MODELING

An ops lead built a model investors actually trusted.

Sam could build a spreadsheet but not a financial story. A CFO persona walked the model line by line — and taught the logic behind every cell.

LN
“Lena” · CFO persona
Modeling & FP&A · ★ 4.8
6
errors caught
3-stmt
model linked
100%
he understood it

The situation

Sam runs operations at an early-stage company. With a raise coming, the founder asked him to build the first real financial model. He was comfortable in spreadsheets — but a three-statement model, with the income statement, balance sheet and cash flow all linked, was a different animal. And he’d have to defend every number.

Hiring a fractional CFO for a week wasn’t in the budget. So he rented one by the month instead.

Where he got stuck

“My statements wouldn’t tie out, and I had a circular reference I couldn’t kill. Worse — I couldn’t tell which assumptions actually mattered to an investor.”

Inside the session

Spreadsheet open, Sam asked the persona to look at the model with him.

SAM
“My net income looks too high and I don’t know why.”
LENA · CFO PERSONA
“Look at row 18 — you’re counting that revenue twice, once gross and once net. Let me show you which cell to fix, and why it cascades into your cash flow.”
ghost cursor highlights cell B18, then the cash-flow link
SAM
“Which assumptions will they actually challenge?”
LENA · CFO PERSONA
“Three: your CAC, your churn, and your hiring ramp. Make them their own tab so you can flex them live in the room. Try it — I’ll check it.”
“I didn’t just get a model that works. I finally understand why it works.”
Sam · operations lead (illustrative)

The outcome

6
errors caught before investors saw it
1 day
to a clean, linked model
0
questions he couldn’t answer

The model tied out, the circular reference was gone, and Sam could flex the three assumptions live in the meeting. Investors trusted the numbers because the person presenting them clearly understood every line — and that person was Sam, not a consultant.

Put a CFO on your screen.

For the model, the raise, the board pack.

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