Sample interview questions: Can you provide an example of how you have effectively managed the financial aspect of your company as a founder and CEO?
Sample answer:
- Developed and implemented a comprehensive financial plan.
- Clearly outlined income and expenses, with detailed projections for growth.
- Conducted thorough market research to accurately estimate revenue potential.
- Created a budget that allocated funds for operations, marketing, and research and development.
-
Established a system for tracking actual expenses against the budget, making adjustments as needed.
-
Negotiated and secured funding from investors.
- Pitched the company’s vision and growth potential to potential investors.
- Successfully raised $1 million in seed funding from a group of angel investors.
-
Negotiated favorable terms with investors, including a reasonable equity stake and preferred stock.
-
Effectively managed cash flow.
- Implemented a strict policy of paying invoices promptly to maintain good relationships with suppliers and contractors.
- Negotiated favorable payment terms with customers, including early payment discounts.
-
Maintained a healthy reserve of cash on hand to cover unexpected expenses.
-
Made strategic business decisions based o… Read full answer