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SaaS Interviews with CEOs, Startups, Founders

Is Forecasting a Waste? CFO with $123m in Revenue Tells All

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 11 June 2024

⏱️ 19 minutes

🧾️ Download transcript

Summary

mFiles has grown from $10m revenues in 2015 to more than $123m today. CFO Justin Kim has been there for the full ride. Is forecasting a waste? How should a CFO setup a plan B? How should scenario analysis actually work?

Transcript

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0:00.0

You are listening to conversations with Nathan Latka, where I sit down and interview the top SaaS founders, like Eric Wan from Zoom.

0:13.5

If you'd like to subscribe, go to getlatka.com. We've published thousands of these interviews, and if you want to sort through them quickly by revenue or churn, cac, valuation, or other metrics, the easiest way to do that is to go to gitlatka.com and use our filtering tool.

0:29.6

It's like a big Excel sheet for all of these podcast interviews. Check it out right now at GitLatka.com.

0:38.3

Yeah, so my role is the CFO and CEO of the business.

0:47.3

Started when we were really starting to scale the business.

0:50.3

So I think I was asked to share my lessons learned. And the challenge

0:55.6

was boiling it down to nine. So, all right. So, yeah, what I'll cover is basically

1:04.6

kind of three categories. One is in terms of the team and people, obviously, you know, the work is really

1:12.7

for a position like mine, it's really about building the team and then enabling them to obviously

1:18.6

do what they do. So I've got some thoughts on that. In terms of tooling, sharpening the

1:24.6

axe, lots of lessons learned there.

1:29.3

And in terms of just the intangibles for a company that's growing as fast as we did, which

1:34.3

I'm sure that's of interest to everybody, clearly lots of leadership mistakes and lessons

1:42.3

learn there.

1:48.5

And I promise none of this is going to be that earth-shattering,

1:51.2

so it's really just based on kind of practical experience.

1:53.2

And hopefully some of it will be useful.

1:56.1

So maybe tell you a little bit about infiles. We're a knowledge work automation company.

1:59.5

Our core platform is a document management platform that automates management of information,

2:04.5

workflows, and compliance.

2:08.9

So the story starts way back and started in kind of the early 2010s, if you will, in terms of actually becoming

2:21.8

a recurring subscription SaaS business.

...

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