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. cjgustafson.substack.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. cjgustafson.substack.com
Episodes
Mentioned books
15 snips
Dec 27, 2025 • 41min
Inside the Economics of Independent Creators | Mostly Growth
Dive into the world of independent creators as the hosts reflect on a year of growth and challenges. They discuss the balance of creative intuition versus metrics, revealing how much content drives real engagement. There’s a candid exploration of subscriber dynamics, including the emotional weight of churn and the realities of burnout. Learn about optimizing writing routines, team building, and the complexities of monetization through ads versus subscriptions. Finally, tips for enhancing LinkedIn credibility and the importance of simplicity in operations round out this insightful conversation.
Dec 25, 2025 • 57min
Capital Spoilage and Leakage: A CFO’s Guide to Finding What’s Lost | Mostly Classics
In this engaging conversation, Russell Lester, CFO of Tropic and former Calendly CFO, dives into the nuances of capital management. He introduces the concept of 'spoilage,' highlighting how wasted capital can hinder growth. Lester explains levers and leakages, emphasizing the CFO's role as a Chief Alignment Officer. He shares practical insights on identifying waste, aligning teams, and utilizing tools for efficient spend management. Discover how daily 'data safaris' can drive curiosity and smarter decisions that foster growth.
11 snips
Dec 22, 2025 • 57min
From CFO to Founder: Inside the Making of Mostly Media | Paul Stansik Interviews CJ
In this illuminating conversation, Paul Stansik, Operating Partner at ParkerGale and author of the Hello Operator newsletter, interviews CJ Gustafson, founder of Mostly Media. They dive into CJ's journey from CFO to entrepreneur, revealing the origins of Mostly Media and its growth tactics. CJ shares insights on monetization through diverse revenue streams and the importance of building relationships. With a focus on strategy and authenticity, he offers practical advice for aspiring creators looking to cultivate an engaged audience.
Dec 20, 2025 • 35min
AirPods as Recurring Revenue, Direct Mail’s Revival, and Other Growth Predictions | Mostly Growth
Dive into a world of thought-provoking predictions, where AI's impact on marketing becomes a focal point. Discover why direct mail is making a surprising comeback in an age dominated by digital. Listen as experts explore the challenges of AI reliability and the monetization of specialized audiences. Uncover standout pricing models, including the intriguing economics of AirPods as a recurring revenue source. This dynamic conversation paints a vivid picture of how our consumption and marketing strategies are evolving.
Dec 18, 2025 • 55min
Running the Long Game in Growth Equity | Larry Contrella
Larry Contrella, General Partner at JMI Equity, blends his competitive running background with investment insights. He discusses the value of fostering long-term founder partnerships over financial engineering. Larry emphasizes JMI's commitment to organic growth and the importance of product quality. He dives into unique sourcing strategies enhanced by customer conversations and transparency with operators. The discussion also touches on investing in mission-driven sectors like K–12, highlighting the significance of community and branding in scaling successful businesses.
Dec 15, 2025 • 1h 18min
Inside Rocket Companies: M&A, Metrics, and Mortgage Moats | Brian Brown
Brian Brown, CFO of Rocket Companies and a seasoned M&A leader, shares insights on how Rocket evolved into a comprehensive fintech powerhouse. He elaborates on their unique approach to mortgage servicing as a way to enhance customer relationships and drive repeat business with impressively high recapture rates. Brian emphasizes the importance of storytelling in finance, debates the value of brand trust in high-stakes environments, and discusses the challenges and strategies behind public-to-public acquisitions.
Dec 13, 2025 • 43min
Mall Santas, Chicken Fingers, and Why Focus Wins | Mostly Growth
Discover the fascinating evolution of mall Santas and the changing atmosphere of modern mall visits. Explore how niche brands like Untuckit and Raising Cane's thrive through a laser focus on their core offerings. Delve into the complex dynamics of competition, and why chasing rivals can be counterproductive. Examine the resurgence of cold calling in B2B growth, and unravel the quirks of algorithmic pricing. The conversation is packed with insights that illuminate the intriguing mechanics of business and consumer culture.
25 snips
Dec 11, 2025 • 1h 13min
From Amazon to Docusign: A CFO’s Guide to Building Durable Systems | Blake Grayson
Blake Grayson, CFO of DocuSign and former finance leader at Amazon, shares insights on transforming e-signatures into Intelligent Agreement Management. He discusses leveraging DocuSign's brand trust and network effects to evolve products without losing core identity. Blake dives into the complexities of agreement management, the importance of consumer education, and how proper pricing models can enhance product positioning. He highlights the need for effective capital allocation and the crucial role of customer feedback in shaping metrics and processes.
14 snips
Dec 8, 2025 • 1h 11min
Fire bad customers save great ones | Cassie Young
Cassie Young, General Partner at Primary Venture Partners and a seasoned leader in customer success, shares invaluable insights into SaaS growth. She discusses the unconventional strategy of firing low-value customers to save resources, emphasizing that churn reveals deeper retention issues. Cassie critiques traditional metrics like NPS and stresses the importance of understanding leading indicators for better retention. With her witty 'Cassie isms,' she shares strategies that foster cross-functional alignment and boost overall enterprise value.
10 snips
Dec 6, 2025 • 36min
From Birding Apps to Billion-Dollar Bundles | Mostly Growth
Dive into the quirky world of competitive bird-watching apps like Merlin and eBird, sparking a discussion on SaaS mergers including Superhuman and Grammarly. Explore how private equity firms are transforming into powerful distribution channels for AI solutions. Delve into innovative selling strategies, focusing on the evolution from generic to proprietary data signals. The hosts also tackle business blunders, like misleading charts and clickbait headlines, while examining Spotify's pricing dynamics and communication missteps.
