"You've come to the right place. You've got a launchpad and a framework to use, and you will be supported by other people going through a similar programme."
How did you first come across Connectd and what made you want to be part of the network?
Stephen Owen, Fractional CFO & Finance Director: I came across Connectd a few years ago through a LinkedIn outreach and was already interested then. It just wasn't quite the right timing for me in terms of transitioning into a portfolio career. Towards the end of last year, the timing was better. I found the platform really good in terms of offering structured training you could do at your own pace. I liked that you got access to a mentor, and looking at the mentors, I could see they were very well qualified and would be genuinely helpful. The guaranteed pro bono placement offered a real opportunity to try things out, which I hadn't really seen anywhere else. It looked like it was delivered really well.
How did the Academy help you?
Stephen Owen: I found the Academy very helpful. For me it was really about preparing mentally for the adjustment. There was quite a lot of guidance around what the transition would involve, and there is no hiding from the fact that it is quite a tough thing to go through. But at the same time, it gave me a number of tools to manage that.
It also talked quite a lot about founders and what they are like, and various approaches in terms of how you interact with them. That was genuinely useful. And then the practicalities of how you actually engage, because being a paid employee in a large company is a world away from delivering something on a one-to-one basis. The importance of relationships, delivery, and where you bring your value and experience, came across very strongly in the training.
How did you use the platform to navigate your next steps?
Stephen Owen: One of the good things about the platform is that it lets you see the makeup of startups. If there is a gap, say on the business development or marketing side, and you have that background, you can see whether they have someone in that role already and identify where you could come in. I thought that was really useful and it helped me tailor my approaches.
What did you think about the mentorship aspect of the programme?
Stephen Owen: For me, the mentorship was very much about choosing the right person. You could balance choosing someone who does not share your industry background but brings values and skills you might not have considered, such as strong networking or business development experience. Or you could choose someone who is a professional from a similar background who has done it before, which is what I did.
The mentorship was good because it enabled me to talk to someone who had been through it. I took quite a lot from that, particularly in terms of how I would start out.
How did you ascertain whether the company you worked with was the right fit?
Stephen Owen: The mission of the business resonated with me. A lot of it revolved around using the latest technology to speed up testing and create vaccines more effectively. It was very much about finding something mission-driven that would really utilise my skills to help bring it to life.
What were the early trade-offs to bring in maximum value, and how was the cadence established?
Stephen Owen: Coming from a finance angle, there are some quite specific things you can do in a CFO capacity. I was fortunate that my founder was a second-time founder who had been through a lot of it before and already understood a lot of what investors would look for. That made things a little easier because I did not have to dig too much to get the answers I needed, and it allowed me to move into modelling things in a meaningful way fairly quickly.
I was very clear about my approach and what we could do, and took the founder through that process. I made it as collaborative as possible, ensuring they could interact with the working files, so we could build a foundation to model things and test scenarios for investors. We had a clear view of what we needed to deliver by certain times to meet investor requirements.
A weekly meeting with specific goals and objectives became the right structure. Being very upfront with the question of what can I do to help you, and letting the founder give the answers, meant we could structure our work week by week as the business plan became more mature.
What is one significant outcome that is a direct result of your advice or guidance?
Stephen Owen: A lot of the work I did has been used in the approach with investors, and we have come to the very final stages. The financial work has been approved and the company is very close to receiving the funding it is looking for to take it to the next stage. The work I have done has also served as a framework to build from once the funding arrives.
The other great thing is that I am now retained, so when that does happen, it will move into a permanent growth position. It has been very rewarding in that sense.
How did the pro bono placement evolve into the relationship you have today?
Stephen Owen: It was a three-month placement for me, and we did not really start having those conversations until about five to six weeks in. To begin with, it is really about showing what you can do, how you can come in, and how you can develop. And then it is just a question of not leaving it to the last minute and simply asking. Plan for it and shape it. I was really upfront: I said, "I'm really enjoying this, this is a real area of growth for me, I'm learning and developing a lot. What do you think about continuing this in the future?" If you already have a good relationship going, it should just be a conversation. It became quite clear it could keep going, and it has been very rewarding.
What advice would you give to someone looking to start their fractional journey with Connectd?
Stephen Owen: You have come to the right place. You have got a launchpad and a framework to use, and you will be supported by other people going through a similar programme. The quality of the founders I am seeing is great, and they are very much committed to their businesses.
With a lot of experience working in larger companies, you do not always realise just how much you have to offer until you actually meet your founder, start to understand the business, and start to ask questions. And then it just keeps evolving. It is a great opportunity to take your skills and background into environments where they can really help you build a fulfilling career in the fractional space.
What is the one thing you would advise T2P or fractional members to prioritise when starting out?
Stephen Owen: Really take your time over the training and think carefully about what is involved. By way of example, in order to properly engage with my placement, I needed to set up a company and get everything official. There are a lot of components to it. So take your time, really consider all the aspects, and bring everything together properly, because I think you need the full picture to give a fuller offering and get the most out of it.
The T2P programme turned my interest in fractional work into paid opportunities and genuinely fulfilling career opportunities.
Stephen Owen, Fractional CFO & Finance Director
