Founder-led businesses are fuelled by belief.
Listening to Ben Averis on The CFO Playbook discuss his role as Yoto’s CFO brought this into sharp focus. Yoto, by way of introduction, is a screen-free audio player for kids. He describes a culture where the product comes first, not as a tactical decision but as a principle. And it is one shared from the top: the founders are still deeply involved in shaping Yoto’s direction as CEO and CTO. They are not just supporting the business; they are the business.
I have worked in and alongside founder-led businesses before. The dynamic is different and impacts everything, including the CFO role.
When the founders are embedded in day-to-day decisions, they live and breathe the product; their passion can create an incredible tailwind. It galvanises teams. It removes ambiguity. It creates alignment. And if you are in finance, it also sharpens the stakes. Because in this kind of business, belief in the product is not up for debate. The expectation is that the numbers will catch up; strong products will drive successful sales and strong finances. And often, they do.
But belief alone is not enough. That is where the CFO comes in.
The weight of belief, and the role of data
Ben points out that product-first thinking makes some decisions easier. I agree. But it can also bring tension, especially when it comes to planning. At Soldo, I have seen this tension firsthand. Vision is forward-looking, while data is rooted in the past and present. As CFOs, our job is to connect the two.
It means asking: What does the data really tell us? What is the story behind the numbers? How do we share this story in a way that supports the founder’s vision without losing financial clarity?
It’s not just about reporting; it’s about decision-making. Finance leaders must help organisations stay curious about data, not just use it to justify what has already been decided. The goal is not to pour cold water on ambition but to guide it, ground it, and, crucially, make it sustainable.
Ben talks about Yoto’s “North Star” metric: weekly active families. It is a brilliant example of how finance can align with product and purpose. It is not about cutting costs or squeezing margins, it’s about understanding behaviour. Are families engaged? Are they building habits around the product? Are we creating the value that justifies the growth we are forecasting?
That kind of metric helps finance move from being the function that says no, to the one that helps everyone get to yes – with confidence.
An alternative route
Of course, product-led growth is not the only option. Many businesses are sales-led, putting energy into sales targets, revenue generation and hitting quotas. The logic is clear: the faster you can bring in revenue, the faster you can reinvest in the product.
The reality is that sustainable growth rarely comes from choosing one over the other. It is about balance: creating a product customers truly value that drives sales and using this revenue to reinvest in product development.
Product-first does not mean finance or sales-second
At Soldo, we talk about Progressive Finance, a more agile, decentralised, and trust-based approach to spend. In many ways, founder-led companies are already instinctively practising this. They empower product, move quickly, and focus on value creation.
Finance leaders have the opportunity and responsibility to keep pace with that mindset while still bringing discipline to the table. That means systems, data, and governance. But it also means understanding that passion is a performance driver. It is not just noise — it is a signal.
Ben puts it well: “If the product can get better all the time, then we are all aligned.”
A product-first work culture is key, as, at the end of the day, the product is what our customers use to solve their pain. It increases the likelihood of having a strong position in the market, as selling a great and evolving product is enjoyable for the sales organisation. In a nutshell, a good product helps everyone to be successful, leading to a bright future for the company.
As CFOs, our job is to make sure the finances follow.
