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
14 snips
Aug 14, 2025 • 56min
Thinking About Adding Payments to Your Software Product? Listen to This First!
Andrew Mosawi from JMI Equity, an embedded payments expert, discusses key considerations for integrating payments into software products. He emphasizes knowing when you have the 'right to win' and building a strong infrastructure. The conversation covers the evolution of embedded payments, strategic advantages in customer retention, and common pitfalls companies face. Mosawi shares frameworks for sizing market opportunities and insights on revenue forecasting, reminding listeners of the complexities and opportunities within the payments landscape.
15 snips
Aug 11, 2025 • 1h 1min
Having Gone Through Sh*t Is an Asset: Yext CFO’s Playbook for the Tough Times
Darryl Bond, CFO of Yext with a decade of experience, dives into transformative financial leadership. He emphasizes how navigating turbulent times has shaped his approach, prioritizing growth while tackling tough decisions. Darryl reveals the importance of relationship-building as a key to success and discusses how structured processes, like implementing deal desks, streamline operations. He shares lessons learned from mistakes in his early career and underscores the necessity of listening to customers for effective capital allocation.
Aug 7, 2025 • 1h 6min
How To Win at Early-Stage Sales (With the Guy Who Helped Take Snyk From $0 to $100M+)
Ethan Schechter, SVP of Global Sales and Customer Success at Qodo, previously scaled Snyk's revenue from zero to over $100M. He shares his insights on building a sales organization from scratch amidst the AI boom. Ethan discusses hiring strategies, the emotional rollercoaster of startup life, and the importance of over-communication in early-stage teams. He critiques LinkedIn’s cringe posts while exploring the nuances of discounting as a competitive strategy in the SaaS industry, all while emphasizing trust and adaptability in dynamic environments.
17 snips
Aug 4, 2025 • 1h 7min
Your Company Is a Utility Function: Here’s How to Pull the Right Levers
Join Michaela Lehr, a seasoned FP&A leader and former CFO of ActionIQ, as she shares her unique approach of treating finance like a utility function. She dives into how CFOs can effectively manipulate levers like growth and gross margin without causing chaos. Michaela discusses the significance of sustainable revenue versus quick spikes and the rising trend of "experimental recurring revenue" in AI-driven products. Additionally, she emphasizes the importance of effective communication between finance and engineering teams to drive better financial decisions.
15 snips
Jul 28, 2025 • 1h 9min
“Let’s Just See What Breaks” — Intuit’s CFO on Being a Disruptor When You’re Already the Incumbent
Sandeep Aujla, CFO of Intuit, shares insights from leading finance at one of the largest software companies worldwide. He reveals how Intuit maintains startup agility while managing flagship products like QuickBooks and TurboTax. The conversation covers the delicate balance of capital allocation, the impact of AI on efficiency, and the significance of a strong CFO-CTO partnership. Sandeep highlights the necessity of embracing disruption, the value of letting things break for innovation, and shares lessons learned from unexpected sources—like a $2 coffee.
10 snips
Jul 24, 2025 • 1h 14min
“Most Sales Reps Are Coin-Operated”: A Guide To Building Better Comp Plans
Daniel Lentz, CFO of BigCommerce and former sales expert, shares insights on creating an effective sales culture. He discusses aligning sales and marketing efforts and emphasizes input metrics over output metrics. Lentz reflects on his unconventional journey from aspiring pastor to CFO, highlighting the need for empathy in leadership. He also stresses the importance of clear communication in sales management and the relevance of mentorship for young professionals navigating economic challenges. Humor and creativity emerge as key strategies for enhancing team performance.
17 snips
Jul 21, 2025 • 1h 8min
Beat, Raise, Repeat: Former IBM CFO on Developing Watson, AI Automation & Financial Stewardship
Chris Greiner, CFO of Zeta Global and former CFO at IBM, shares his insights on AI development during the creation of Watson. He discusses how financial stewardship can drive innovation and the importance of genuine data advantages. Greiner explains his unique approach: being closest to code correlates with being closest to customer experience. He also outlines his personal IPO checklist and the significance of tracking daily revenue, all while weaving in memorable anecdotes from his time at IBM, including an encounter with the Emperor of Japan.
14 snips
Jul 17, 2025 • 1h 3min
“AI Might Be Coming for Your Job, but There’s No Better Time To Be an Accountant”
Scott Spiegel, COO and former CFO of the AICPA, shares his insights on the evolving accounting profession. He discusses how AI is reshaping the field while emphasizing the need for adaptability and new skill sets. Spiegel reveals surprising overlaps between accounting and sales, underlines the importance of soft skills, and challenges misconceptions about the profitability of nonprofits. His unique anecdotes, including experiences with fraud detection, highlight a future where accountants thrive by blending technical and relationship-driven skills.
20 snips
Jul 14, 2025 • 1h 4min
Don’t Sign That Yet: Small M&A Mistakes That Can Cost You Big
Trey O'Callaghan, a partner at Goodwin specializing in tech M&A, shares invaluable insights on navigating the complex world of mergers and acquisitions. He discusses the critical role of M&A lawyers in preventing costly mistakes, from unpaid sales tax to co-founder disputes. Trey explains why earn-outs can be a source of litigation and the importance of involving legal counsel early in the process. He also sheds light on non-compete agreements and the personal implications for CFOs during negotiations. Don't miss his tips for ensuring smooth transactions in the tech industry!
15 snips
Jul 12, 2025 • 15min
The Shrinking Public Markets, and Rise of Private Liquidity Loops
Publicly traded companies in the U.S. have halved in the last 30 years, with more firms opting for private ownership. This shift stems from significant changes in the capital markets and a surge in private credit. The move to private equity presents challenges for small-cap companies, while altering the landscape for finance professionals. What does this mean for future employees and investors? The discussion dives into these trends and their implications, painting a vivid picture of a rapidly evolving financial environment.
