Opening: Head of Finance & Operations

Earnest Capital is growing and we’re looking for a Head of Finance & Operations to take on some projects and areas of responsibility currently handled by the Founder/General Partner and make them a whole lot better.

This is a part-time (to start) remote-friendly role. We are particularly interested in folks who can demonstrate first principles thinking in finance and scaling remote operations.

Here are some of the areas of responsibility and projects to tackle.

Continued development of the Shared Earnings Agreement

We invented a new financing structure to better align us with entrepreneurs who want to build profitable sustainable companies. Inventing a new financing structure is challenging and fun and filled with all sorts of complexities, edge cases to smooth, ways to make it more understandable to entrepreneurs and investors, improvements to reporting from portfolio companies and so on.

Refine internal company valuation processes

We back early stage, profit-focused software companies that don’t necessarily intend to raise venture capital (and get quick paper mark-ups). Figuring out how to value our investments in these things is practically a blank slate at this point. Improving how we value our portfolio is an opportunity to create entirely new benchmarks for the kind of businesses we believe represent the future of entrepreneurship.

Build tools for founders

Transparency and Education are core to how Earnest operates. We love building simple free models and tools for founders either in our portfolio or just trying to build real businesses themselves. Examples would be our Founder Break-Even Calculator, the SEAL Calculator, and or more simple explainers for first-time founders like Why would a bootstrapper raise capital? Lots more ideas here than we have time to do and we would love for someone to run with this.

Earnest Capital Operations

We are a small but growing remote-first fund with an ambitious list of projects to launch and people to hire. Dot the i’s and cross the t’s and make sure Tyler doesn’t screw anything up at the operations level 🙏

Investor Management

We created a new quarterly subscription model for our funds and need a point person to monitor capital calls, answer or triage investor inquiries, and make sure our investors are happy.

If it sounds like a lot, don’t worry, we’re not going to throw all this at you at once, it’s just a wide sample of areas to potentially sink your teeth into.

Things not on your plate

  • You’ll be supported by excellent legal, fund administration, back office, and tax teams. So you don’t need to be the last word on these, though you’ll likely work with all of them.
  • Bookkeeping and payroll processing are handled by our back office finance team.
  • Fund accounting is handled by our fund administrator.

Practical Details

Timeline: we’d like to hire somebody by September at the latest. The plan is to take our time and look for someone great. We will likely let this post circulate for a few weeks before replying and setting up meetings.

Hours: Part-time remote is a great way for this to start and scale up over time. We love kids and dogs joining Zoom calls and are more than happy to work with someone balancing time with childcare.

Work Style: we are big fans of calm asynchronous work. We like Rework and Shape Up and really value clear writers. If you need to hop on a call every day to get things done, this may not be for you. A growth mindset with regards to collaboration tools is also essential… we use a lot of “no-code” tools to automate tasks and stay organized. You don’t need to be an expert on this stuff but if you’re easily overwhelmed by new tools to learn and collaborate with, we may not be the best fit either.

Compensation: We are still a startup, so while we certainly will strive for fair compensation, Palo Alto-competitive salaries are not on the table here. We’ll more than make up for it with flexibility, freedom, and exciting challenging work. “Equity” in the form of sharing in the carry of the funds, is a definite possibility (happy to explain more in discussion).

How to apply: Email me anything you find relevant at tyler@hey.com with “Head of Finance” in the subject line.

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