Run the Numbers
CJ Gustafson
Run the Numbers is a twice-weekly podcast about financial metrics and business models, designed for ambitious people operating tech startups. It's a collection of things host CJ Gustafson (CFO at Partstech and writer of Mostly Metrics) has learned and thought about in the trenches as a tech CFO.
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth.
This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.
Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth.
Episodes
Mentioned books
11 snips
Feb 13, 2025 • 54min
From CF-No to CF-Go: Serial CFO Michael Bayer’s Guide to Hypergrowth
Michael Bayer, a seasoned CFO known for his expertise in hypergrowth companies, shares insights from his journey of transforming from a 'CF-No' to a 'CF-Go.' He discusses the vital role of strategic investment in scaling businesses, emphasizing cash flow management and hiring for future needs. Michael introduces his 'rock-turning' exercise for addressing company challenges and outlines his guiding principles: speed, best ideas winning, and the value of mistakes. He also shares the intriguing Van Halen 'brown M&M' story to highlight the importance of attention to detail.
34 snips
Feb 10, 2025 • 56min
How Upwork CFO Erica Gessert Drove 20 Points of EBITDA Growth in Just 3 Quarters
Erica Gessert, CFO of Upwork and former SVP of Finance at PayPal, shares her expertise in marketplace dynamics and financial strategies. She reveals how adaptable forecasting models can drive success even in shifting economic landscapes. The discussion includes Upwork's impressive 20-point EBITDA growth and their innovative approach to customer acquisition and network effects. Erica also highlights the crucial balance between profitability and growth, the role of AI in business evolution, and the entrepreneurial spirit of freelancers thriving in the gig economy.
6 snips
Feb 8, 2025 • 9min
Profits vs. Growth: What X, Deel & Clay Are Teaching Us
Get ready to dive into the latest buzz in tech finance! Profits at X, previously known as Twitter, are soaring, but revenue growth seems to be lagging. Discover how Deel is shaking up the global employment scene with unmatched growth metrics and market strategies. Plus, there’s a deep dive into the valuation ups and downs in the data service sector, with Clay raising eyebrows as it navigates the challenges of product integration and customer loyalty. Tune in for a ringside view of the private tech market!
19 snips
Feb 6, 2025 • 1h 1min
A CFO’s Guide to Raising Take Rates and Increasing Gross Margins, with Kapil Agrawal
Kapil Agrawal, CFO at Outschool and former finance leader at Poshmark and Uber, shares his expertise in pricing strategies and marketplace models. He discusses Uber's innovative pricing tactics and the impact of promotions on customer growth. Kapil also reveals how he successfully raised Poshmark's gross margins and the challenges of blending marketplace and subscription models. The importance of high-quality decision-making and hard work in leadership is highlighted, along with insights on user engagement and achieving profitability in competitive landscapes.
Feb 3, 2025 • 1h 1min
You Can Securitize Anything! — Art as an Asset Class with Nigel Glenday of Masterworks
In this enlightening discussion, Nigel Glenday, CFO and COO of Masterworks, shares his expertise on securitizing high-value artworks for everyday investors. He unveils the complexities of art as an asset class, emphasizing the power of data in valuation. Glenday compares art investment to other unique assets like racehorses while exploring innovative strategies to navigate market dynamics. He also highlights the significant role of financial approaches in art auctions, illustrating how creativity meets investment in this evolving landscape.
22 snips
Feb 2, 2025 • 16min
State of the Private Markets: January 2025
Dive into the latest insights on private markets with a look at top tech valuations and hiring trends. Discover which companies are rapidly expanding, and who’s facing layoffs. Key players like Databricks, Anduril, and Canva are spotlighted for their transformative impacts. Learn about recent funding rounds and executive hires that could shape the future landscape, plus sector highlights in foundational models, fintech, and autonomous driving. Get the scoop on how private and public valuations are evolving!
9 snips
Jan 27, 2025 • 58min
“What’s in It for Me?” The Art of Storytelling in an IPO - with Monday.com CFO Eliran Glazer
Eliran Glazer, CFO of Monday.com and a key player in its upcoming IPO, shares his insights on the importance of storytelling in corporate finance. He discusses the unique culture of the Israeli tech scene and how military service shapes entrepreneurial skills. Eliran delves into the challenges and strategies involved in navigating IPO preparations, emphasizing authenticity and tailored messaging to attract investors. He also highlights lessons learned on resilience and adapting to high-pressure situations, making the case for robust storytelling in leadership.
27 snips
Jan 23, 2025 • 52min
The Analytics Escalator: Unlocking Value in Finance with Mambu CFO Jesper Sorensen
Jesper Sorensen, CFO of Mambu and author of three analytical books, shares his journey from early jobs to fintech leadership. He introduces the Analytics Escalator, a framework for maximizing data value. The discussion highlights the importance of integrating analytics within financial operations and building strong BI tech stacks. Jesper emphasizes the collaborative relationship between finance and sales teams and the need for professionals skilled in both analytics and finance to drive impactful decision-making.
Jan 20, 2025 • 52min
"Be Interesting" and Other Unconventional Finance Career Advice from CFO Jeff Cassidy
Jeff Cassidy, CFO of Prodigy Education, has a fascinating career spanning finance, biotech, and more. He shares unconventional advice on prioritizing personal fit over credentials in hiring. Jeff discusses building strong teams through ambition and skill, particularly during the challenges of the pandemic. He critiques the traditional college system, advocating for practical skills and diverse experiences. Additionally, he emphasizes the importance of empathy in financial management, especially in supplier relations and team dynamics.
7 snips
Jan 16, 2025 • 59min
“Your budget is counter-productive” — Michiel Boere, CFO of Remote
Michiel Boere, CFO of Remote, shares his expertise in building global companies and revolutionary approaches to budgeting. He discusses the benefits of remote work, enhancing equity in the job market and managing international finance complexities. Michiel critiques traditional budgeting, advocating for flexibility that better aligns with actual company needs. He also shares insights on risk management, unit economics, and the importance of fostering a positive workplace culture to retain talent.
