One of the most common and least talked about problems new CFOs or finance leaders face in startups and scaleups is this:

You arrive too late.

Not late in your career. Late in the company’s journey.

By the time you join, the cracks are already there. Data is messy. Cash is tight. Forecasts are optimistic at best, or non existent at worst. Controls are light. And what should have been built gradually now needs fixing quickly.

From day one, all of that becomes your responsibility.

This is not a reflection of your ability. It’s a structural issue in how startups think about finance leadership.

It's exactly the same for Fractional CFOs too.  I cannot remember how many times I've thought when starting with a new client, I wish they hired me a year ago....

Why CFOs Are Often Hired Too Late

Most founders don’t wake up one morning and think, we should proactively hire a CFO.

They hire when something feels wrong.

• Cash is tighter than expected
• Investors are asking harder questions
• The numbers don’t quite reconcile
• Decision-making feels harder than it should

Finance leadership is often brought in as a response to pain, not as part of a long-term plan.

From the founder’s perspective, that makes sense. From the CFO’s perspective, it means you’re stepping into a role where expectations are already loaded with urgency and stress.

Even worse, there are times whereby a board or new investor encourages a founder to hire a finance leader, so it wasn't even their idea.

What “Too Late” Actually Looks Like on the Ground

When CFOs arrive late, there’s a familiar pattern.

Messy or unreliable data

Numbers technically exist, but no one fully trusts them. Revenue definitions are unclear. Reports don’t tie together. Historical data needs unpicking before you can even think about insight.

Cash pressure

Runway is shorter than the narrative suggests. Forecasts rely on best-case assumptions, if there is a forecast. Conversations about cost, hiring, or fundraising are already emotionally charged.

Weak controls

Approval processes are informal. Segregation of duties is limited. Risk hasn’t been ignored, but it also hasn’t been prioritised.

Unrealistic forecasts (or no forecast at all)

If there is a forecast, it has been built to support ambition, not decision-making. Scenarios are light. Sensitivity is missing. And yet, everyone wants certainty immediately.

None of this is unusual. But when you inherit all of it at once, the role becomes far heavier than the title suggests.

The Trap New CFOs Can Fall Into

When you’re hired into this environment, the instinctive response is to fix everything.

You roll up your sleeves. You dive into the detail. You start rebuilding models, cleaning data, redesigning reports. It feels productive. It feels safe.

But this is where many CFOs get stuck.

Instead of being positioned as a leader, you become the person fixing historic issues at speed. The business sees activity, but not always progress. And the pressure to “sort it all out” never really lifts.

This is how burnout starts quietly.

Why This Is a Career Risk, Not Just a Workload Issue

Being hired too late doesn’t just make the job harder. It can actively damage how you’re perceived.

If expectations aren’t reset early:

• You get judged on legacy problems
• You’re seen as operational, not strategic
• You spend months stabilising instead of leading
• Confidence gets eroded, even when you’re doing good work

For first-time CFOs especially, this can knock belief at exactly the point where you need it most.

What Strong CFOs Do Differently

The CFOs who navigate this well don’t deny the mess. They reframe it.

1. They make the inherited state visible

They don’t quietly absorb the problems. They surface them early, calmly, and factually.

Not emotionally. Not defensively.

They explain:

• What’s fixable quickly
• What will take time
• What the real risks are
• What success actually looks like in phases

This shifts the conversation from blame to realism.

2. They reset expectations early

Strong CFOs are explicit that they didn’t create the current state, but they will take responsibility for improving it.

That distinction matters.

They frame the first 90 days around stabilisation and understanding, not instant transformation. This protects credibility and builds trust.

If you want to read more about your first 90 days in a new role, take a look at a prior post here.

3. They prioritise ruthlessly

Not everything gets fixed at once.

They focus on:

• Cash visibility
• Data reliability at a high level
• The few controls that genuinely reduce risk

Everything else goes on a roadmap. This is leadership, not avoidance.

What This Means for Your Career

If you’re stepping into a CFO or senior finance role in a startup, it’s important to be honest with yourself.

You are unlikely to join a “clean” environment.

The question isn’t whether there are problems. The question is whether you:

1. recognise what you’re inheriting
2. protect yourself from unrealistic expectations
3. and position yourself as the person who brings structure, not just fixes

If you don’t do this consciously, the role can become reactive very quickly.

A Thought for Finance Leaders Earlier in Their Career

If you’re not a CFO yet, but aiming to be one, this is worth paying attention to.

Many finance leaders think the step up is about technical capability. In reality, it’s about judgement and communication.

Understanding when finance leadership is being hired, and why, is part of protecting your career trajectory.

Being hired too late doesn’t mean you can’t succeed. But it does mean you need to lead differently from day one.

Most CFOs don’t struggle because they lack skill. They struggle because they arrive into businesses that waited too long to bring finance leadership in.

If that’s you, the goal isn’t to fix everything immediately.

The goal is to stabilise, reset expectations, and create a clear path forward.

That’s what leadership looks like in real startup environments.

Want to become a confident, strategic finance leader in a startup within the next 12 months? 

Here’s your plan:

1. Subscribe to my YouTube channel and Newsletter for weekly practical tips and real talk about startup finance leadership.
2. Read my book Financial Leadership Fundamentals to get clear on what’s expected of you and how to show up as a leader.
3. Join the Financial Leadership Fundamentals course to fast-track your growth with structure, support, and strategy that works in the real world.