FRACTIONAL COO

Lucy Lu

 

Lucy holds a BS in Accounting, an inactive California CPA license, and a Masters in Sustainability Management from Columbia University. With over 15 years of experience in the tech sector, she has contributed to the growth of businesses at all stages, including X, formerly Twitter.

As an experienced Head of Accounting and Operations, Lucy understands what it takes to build a successful business with tailored operational systems and scalable processes. She provides essential support for startups in scaling accounting processes, offering back-office support, and guiding go-to-market strategies.

Lucy's passion for climate tech is evident in her role as a sustainability reporting consultant for Fortune 500 companies. She is proficient in GHG Protocol, GRI reporting, CDP reporting, and TCFD framework. Lucy served as the lead carbon data analyst for New York City's ambitious carbon reduction legislation and as the lead Scope 3 carbon data analyst for Google.

 

OUR SERVICES

BASIC SERVICE PLAN

  • Payroll setup and connection to accounting software

  • Accounting Quickbooks Online software setup

  • Connect business bank accounts to accounting software

  • Setup invoicing and bills payment process

  • Setup financial reports to monitor the health of your business

  • Set up your chart of accounts

  • Train you on how to use the software

  • One hour complimentary session on operations strategy

Price: starting at $5,000

ADDITIONAL SERVICES

  • Continuous operations advisory and back-office support

  • Operating procedures handbook

  • Setup Carta equity management software

  • Provide ongoing financial support and reporting

  • Assist in evaluating bookkeeper candidates and training

  • HR and employee onboarding setup

Pricing depends on complexity.

 
 

Most Common Questions

What is a fractional COO?

A fractional COO (Chief Operations Officer) is a seasoned executive who provides temporary leadership and support to grow. The expertise includes:

  • Overseeing operations and improving efficiency

  • Launching new products and services

  • Scaling the business operations

  • Setting up and managing accounting and financial systems

  • Developing and implementing HR policies and procedures

When should you hire a fractional COO?

Our service is most valuable for early-stage startups (seed to Series A) and small businesses. There might be a gap you like to fill, such as:

  • Incremental support for a small team

  • Expert in a specific area to provide review or lead a program

  • Temporary leadership gap

  • Bring a diverse skill set to the table

  • Parental leave coverage

An example, if you are a founder of a firm and have too much high-level work on your plate. A fractional COO could take on work as a leadership member such as hiring associate staff or customer experience plan.

When should you choose our Basic Service Plan?

Below are situations when Basic Service Plan were requested:

Example 1: Using Cash Basis Accounting When Accrual is Needed

Situation: The company’s investors raised concerns about non-adherence to the accrual method. The client previously viewed accounting solely for tax purposes and missed its potential as a business decision-making tool. This approach doesn't accurately reflect the company's financial health to make management decisions.

Example 2: Fragmented Financial Data Hinders Decision Making and Cash Flow Visibility

Situation: Addressed a client's lack of centralized financial data. Their prior setup features a customer relationship management system (CRM) that operates independently of accounting and payment systems. The customer invoicing and expenses were fragmented therefore the full cashflow view was not available to make important monthly decisions. This disconnect creates blind spots in their financial picture, hindering informed decision-making for management, and even the founder's retirement planning.

Example 3: Building a Strong Financial Foundation for a New Business

Situation: You're a new entrepreneur with a fantastic idea and the drive to succeed. But before diving headfirst, you recognize the importance of starting your business on the right financial footing. You understand that a solid financial foundation is crucial for navigating tax complexities, making informed decisions, and achieving future growth.

What should I expect?

When you work with us to set up your operations you can expect the following:

  • A dedicated person who will work with you to understand your business and your needs

  • A customized plan tailored to your specific requirements that is focused on scalability and sustainability

  • A timely and efficient service

This is minimum one month and could be longer depending on scope.

Why is your website called Forest Edition?

Forest Edition spun out of Lucy’s passion for sustainability; a place to host her research papers and articles. Even though the website has evolved the sustainability spirit is still in our practice.