Most of us at Fundacity have a hobby outside Fundacity. Diego for instance has a rock band and spends the occasional weekend touring parts of Chile to hold heavy metal concerts, Adam is a self-development and sports fanatic and Jerry loves cooking and reading. Myself, I use my free time to advise startup Taggify on financial reporting, reporting to their board and fundraising. I’ve done this since Dec-12 and in jubilation of my 1 year+ with them Gustavo the CEO offered me advisory stock options.
It is by no means a significant shareholding in fact I forgot how many zeros there were after the decimal point but its the message that matters to me. It means they valued and continue to value my work for them. Giving continued and regular support for monthly reporting has been very tough as I am already working round the clock with Fundacity. Every month end I need to create extra time which usually means early hours at dawn and weekends to make sure I can finish my reviews before the board meeting. It always leaves me thinking I wish I could do more, but I am proud to say that since I joined reporting at Taggify changed incredibly. They were once an excel mess where there was no appreciation for most fundamental accounting principles and worse yet receivables and finances were not controlled at all. Today we use professional accounting software and create sensible reports and track results with precision.
The best part of the experience was learning. I learnt about global group structures, filling of income taxes in each jurisdiction, Delaware Franchise taxes, accounting software, bookkeeping and hiring and firing. It took me almost 6 months to fill the spot of financial controller at Taggify and involved managing the firing of a CFO and soon after that the replacement financial controller. Another interesting learning point was about structuring advisory stock options, which I will talk about in my next post.