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 free up budget, what experience he believes is required to run a $100 million+ SaaS company, whether or not you have to sell to the enterprise to become a public SaaS company, and what he means when he says that the gross profit is where the race starts. CJ talks about his own career path, why he switched from consulting and private equity to operator and CFO, and what he wishes he had known about his skills and potential job paths when he was in college. This episode is full of advice and insights for college students and finance professionals alike.
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SPONSORS:
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Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.
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TIMESTAMPS:(00:00) Preview and Intro(02:32) Sponsor - Planful | Mercury(04:17) Intern Charlie’s Role at Run the Numbers(07:42) When to Join a Startup to Maximize Your Equity Outcome(12:13) Equity at Different Stages of a Company(13:57) Where to Pull Cash From When You Need to Free Up Budget(15:22) Sponsor - NetSuite | Maxio | Leapfin(18:57) Path to Become CFO of a $100 million+ SaaS Company(21:36) Finding “Personal Product Market Fit”(26:53) Selling to the Enterprise to Become a Public SaaS Company(28:15) The Gross Profit is Where the Race Starts(29:47) The Cost of Goods Sold for SaaS Versus Physical Products(31:02) CJ’s Favorite Writers(32:40) What CJ Would Ask a Candidate in an Interview Process but Can’t(36:10) Common Threads in the “Advice to Younger Self” Question(38:04) CJ’s Advice to College Graduates and Junior Year Students
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