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. www.mostlymetrics.com
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. www.mostlymetrics.com
Episodes
Mentioned books
Aug 7, 2025 • 1h 5min
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.
Aug 4, 2025 • 1h 6min
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.
27 snips
Aug 2, 2025 • 12min
NEW DATA: Q2 Private Company Benchmarks
Explore the latest benchmarks revealing challenges for companies between $5M and $25M in revenue. Customer acquisition costs are rising, requiring longer payback periods. Many firms are now focusing on retention, with net dollar retention becoming critical for growth. Companies are tightening their belts, leading to a drop in burn multiples as efficiency gains importance. AI is reshaping search and operational strategies, prompting businesses to develop in-house tools instead of relying on traditional solutions.
15 snips
Jul 28, 2025 • 1h 8min
“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.
7 snips
Jul 26, 2025 • 16min
The Evolution of Software Pricing (A History Lesson)
Explore the fascinating evolution of software pricing from the 1950s to today. Discover how the journey from combined hardware and software to the rise of SaaS reshaped the industry. Uncover the impact of innovations like Amazon's elastic computing and the challenges of adopting hybrid pricing models. Learn valuable lessons on maintaining simplicity and transparency in pricing strategies, with real-world examples that build trust between vendors and customers. Plus, find tips for navigating modern pricing challenges in the age of AI.
10 snips
Jul 24, 2025 • 1h 13min
“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 7min
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.
9 snips
Jul 19, 2025 • 14min
The CEO's #1 Job: Capital Allocation
Discover the pivotal role of capital allocation as the key responsibility of CEOs. Most leaders focus on operations and storytelling, but strategic capital deployment can yield the highest impact. Learn about the challenges faced by CEOs in private equity-backed firms and explore effective resource allocation methods. A fascinating case study reveals successful strategies in the media industry, illustrating the importance of mastering this often-overlooked skill. Plus, there’s a light-hearted take on personal tech mishaps that adds humor to the discussion.
13 snips
Jul 17, 2025 • 1h 2min
“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.
9 snips
Jul 14, 2025 • 1h 2min
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!
