Run the Numbers

In this episode, CJ interviews Stephen Grist, a seasoned seven-time CFO, to discuss what a CFO should aim to accomplish in their first 100 days at a company. Stephen provides an extensive playbook. He covers assessing and shoring up a team, understanding cash drivers, and implementing necessary systems and processes. He also emphasizes the importance of evaluating potential exit strategies from th...

In this episode, CJ interviews Anthony “Tony” Boor, Executive Vice President and CFO of Blackbaud, who shares the unique path he took from working at a motorcycle shop in New Mexico to becoming a CFO. Tony reflects on his first management experiences and the lessons learned as he navigated his early career. The conversation dives into the evolving role of CFOs, particularly as they take on more GM...

Daniel Kang, VP of finance at Mercury, joins CJ for a dive deep into the nuances of annual planning. Dan talks about why if annual planning feels like a finance exercise, it is destined to fail and will feel like pulling teeth. He describes how to use this exercise to lead a broader strategic discussion about a company's direction for a process that is more impactful and less tedious. Dan also hig...

In this episode, CJ sits down with Dr. Julie Gurner, the author behind the Substack Ultra Successful, to explore how top CEOs, CFOs, and entrepreneurs manage their ambition, goals, and self-talk. They examine if being hard on yourself necessary for success and Dr. Gurner shares helpful reframes that can be used to overcome negative self-talk. The conversation delves into the concept of “haunting a...

In this episode, Joseph Floyd from Emergence Capital joins CJ to dive into the venture capital firm’s latest benchmarking report, offering insights into the enterprise software space. Compiled from over 650 responses from Emergence Capital’s portfolio and additional seed firms, the report covers a range of companies from pre-seed to pre-IPO. Joe discusses key trends in AI adoption, highlighting th...

In this episode, CJ interviews Philip Brenckle, CFO of West Shore Home, a company that's revolutionizing the way that people are remodeling their homes. Phil shares insights on the home remodeling market, an unconsolidated industry with a total addressable market (TAM) of $500 billion. He explains how West Shore Home is growing its TAM by meeting customers where they are, before shedding light on...

Amanda Whalen, CFO of Klaviyo, joins CJ in this episode for a deep dive into the roadshow, the IPO process, and ringing that bell. Amanda reflects on the company’s bold decision to go public last year, despite a challenging macroeconomic environment. She shares the factors that guided the management team's timing, the valuation criteria they used to determine the offering price, and how they prepa...

After requests for another pricing episode, CJ sits down with returning guest Jason Kap, the founder and CEO of Blue Rocket, a long-tenured Microsoft leader, and an expert in pricing and packaging. Together, they take a deep dive into the evolution of software pricing, tracing its journey from the early days of buying hardware and software together to buying software separately, and all the way th...

In this episode, CJ talks with Kingsley Afemikhe, CFO of Shield AI, a company pioneering the future of autonomous jets. Together, they dive deep into the defense tech industry, exploring the critical differences between autonomous vehicles and flight technology, and how innovative private tech companies like Shield AI are driving advancements in the sector. Kingsley provides an insider’s look into...

In this bucket list interview, CJ speaks with Larry Roseman, the CFO of Thumbtack, who shares his deep understanding of running marketplace businesses at scale. They explore Thumbtack's business model and monetization strategy, discussing the customer acquisition cost for both service providers and homeowners. Larry explains why going broad rather than niche can be fundamental for marketplace succ...

In this episode, CJ sits down with Eric Newcomer, who runs “Newcomer," or newcomer.co, the largest independent media outlet focused on venture capital. They delve into the art of crafting fundraising announcements, particularly from the CFO’s angle when pitching a company’s raise to the media. The conversation explores the unique appeal of venture capitalists as a subject matter and some of the bi...

In this episode, CJ interviews Bryan Morris, CFO of Demandbase, for an in-depth discussion on the complexities of OKRs (Objectives and Key Results). As the planning season for 2025 kicks into gear, Bryan shares his insights on setting the right OKRs, aligning them across departments, and explaining why they often lose momentum. He discusses his approach to tracking OKRs, the tools he uses, and his...

In this mailbag edition, CJ introduces listeners to Run the Numbers’ first intern. Intern Charlie fills us in on what his internship entails and the nature of the early recruitment process for college internships these days. Then CJ answers questions submitted by listeners. He shares his thoughts on when to join a startup to maximize your equity outcome, where to pull cash from when you need to fr...

Having listened to a number of Couchbase’s earning calls, the company’s CFO Greg Henry sits down with CJ to answer some in-depth questions, starting with the rationale behind Couchbase's non-standard fiscal year and the advantages of it. He then delves into his experience of transforming a traditional enterprise subscription model into a managed service consumption business. The conversation cover...

In this episode, CJ talks to Jessica Lanier, CFO of Restaurant365 and the first CFO guest on the podcast who has firsthand experience as a founder. On top of this, every company she has worked for has been acquired, so she has a wealth of knowledge on all things M&A. She talks about what makes a great CEO-CFO relationship and why a good relationship with the CRO is also so important. She also expl...

In this solo episode, Run the Numbers host CJ Gustafson breaks down all the different ways software businesses make money. He does an overview of the different monetization models including subscription, consumption, hybrid, transaction-based, and advertising models. He then zooms in on subscription contracts and references the piece he wrote “The ‘Planet Fitness’ Era of SaaS is Over” to discuss p...

Today on the number one podcast for CFOs, CJ talks to Nicolette Turner, CFO of Headspace. Nicolette shares her unconventional journey into her role and how she first came to work for the company during the pandemic while she was seven months pregnant with her first child. She explains why CFOs should use their company’s products and why and how they should talk directly to customers. Nicolette the...

In this solo episode, CJ does a deep dive into cash conversion cycles, telling listeners what he’s learned about them, sharing real-life tales from his career, and explaining how certain companies are excelling at theirs. CJ starts by breaking down how he got his company’s Days Sales Outstanding (DSO) down from 55 days to 37 days (a 33% improvement) and Days Payable Outstanding (DPO) up from 35 da...

Simone Nardi, the CFO of Globalization Partners, one of the largest providers of Employer Of Record (EOR) services, joins CJ for a masterclass in expanding internationally. Simone explains the concept of an Employer of Record, how it handles employment-related tasks and obligations for companies going abroad, and how it differs from a Professional Employer Organization (PEO). Together they flesh o...

In this episode, Evan Fein, CFO of TextNow and Global Chairman of The F Suite, a professional group for CFOs, joins CJ for a deep dive into the complexities of being acquired. Evan introduces listeners to his company TextNow, and how it remains free while making money. He also covers important metrics for CFOs in telecom such as Average Revenue Per User and the importance of considering the time v...

Jim Caci, CFO of AvePoint, a global leader in robust data management and data governance, joins CJ for this episode. He talks about the harrowing experience of transforming a company from perpetual licenses to SaaS, how the key metrics he tracked changed throughout this process (and what his top three key metrics are), what he needed to convey to members of the company about the basics of SaaS, an...

In this episode, CJ interviews Dustin Pederson of Locus Robotics, as part of his series of interviews with CFOs from pre-IPO companies recorded live on the floor of the New York Stock Exchange. Dustin explains the Robot-as-a-Service (RaaS) model, a subscription-based service, how it works, and how it makes money. He and CJ do a deep dive into business models that rely on supply chains, the unique...

Continuing in the series of interviews with CFOs from pre-IPO companies recorded live from the New York Stock Exchange, in this episode, CJ is joined by Marcos Torres, CFO of Huntress. Marcos talks about his unusual career path and how he believes there are outsized prizes for people who take the path less traveled. He discusses the qualities of a good CFO such as critical thinking and adaptabilit...

In this special edition, live from the New York Stock Exchange, CJ interviews Paul Mulé, CFO of Arcadia, as the first in a series of episodes featuring CFOs from pre-IPO companies. Paul explains what inspired his leap from investment banker to operator after 14 years at JP Morgan Chase and emphasizes the importance of betting on oneself. He also provides a unique perspective on the scarcity of CFO...

In this episode, CJ interviews Alex Song, the VP of Finance and Capital Markets at Ramp who has also had a fascinating career in the world of investment. He explains how Ramp’s business model impacts liquidity, the unique balance sheet considerations of a payments company, and how credit card issuers approach risk management. He talks about the finance function as a trade-off between risk and retu...