Run the Numbers

Sebastian Duesterhoeft, partner at Lightspeed Ventures, returns to the pod to talk about anything and everything startup operators need to know about Competitive Moats aka the durable competitive advantage of a company. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year.
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SPONSORS: Maxio | Tropic | Thoropass

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

Thoropass provides complete compliance management, continuous monitoring, and security audits through intuitive software and expert guidance – allowing you to do business with confidence. Learn more: https://bit.ly/Thoropass 🔒
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FOLLOW US ON X:
@cjgustafson222 (CJ)
@lightspeedvp (Lightspeed)
@TurpentineMedia (Turpentine)
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This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode, Hubspot SVP of RevOps Sid Kumar discusses the most crucial aspects of revenue operations, the importance of data strategy, perspectives on rep productivity and commission structures, discounting, and more. The conversation also touches on how the lines between go-to-market and product strategies are increasingly blurring. Sid also gives us his take on comp plan design. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

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SPONSORS: Maxio | Tropic | Thoropass

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

Thoropass provides complete compliance management, continuous monitoring, and security audits through intuitive software and expert guidance – allowing you to do business with confidence. Learn more: https://bit.ly/Thoropass 🔒

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FOLLOW US ON X:
@cjgustafson222 (CJ)
@sidkumar (Sid)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(00:36) Where does RevOps sit?
(03:38) The Intersection of RevOps and Finance
(04:43) When to Hire the First RevOps Person
(05:45) The Role of Data in RevOps
(08:27) The Relationship Between FP&A and RevOps
(10:33) Designing Effective Commission Plans
(12:39) The Role of Incentives and Outcomes in RevOps
(18:57) Sponsors: Maxio | Tropic
(22:22) The Importance of Agile Planning in RevOps
(26:01) Understanding Sales Capacity and Quota Assignment
(27:15) AI and Product Led Growth: Blurring the Lines
(27:43) Understanding Business Segmentation
(32:20) Sponsor: Thoropass
(33:40) The Philosophy of Discounting
(37:32) The Role of Spiffs in Sales
(41:09) Understanding Rep Productivity Metrics
(48:29) The Role of Communication in CFO Success
(50:41) The Impact of Large Commission Checks

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

CJ welcomes the president of the Boston Celtics, Rich Gotham. Rich discusses his journey in the NBA and provides insight into the business side of one of the world's most recognizable sports brands. He highlights the emphasis placed on embracing digital technology, retaining fans, creating effective partnerships, and the importance of community involvement for the team. Rich also talks about the increasing role of data in managing team operations and addresses the famous Paul Pierce incident from the 2008 NBA Finals. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year.
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SPONSORS: Maxio | Tropic | Thoropass

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

Thoropass provides complete compliance management, continuous monitoring, and security audits through intuitive software and expert guidance – allowing you to do business with confidence. Learn more: https://bit.ly/Thoropass 🔒
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TIMESTAMPS:
(00:00) Intro
(00:44) The Evolution of the Boston Celtics' Business Model
(00:49) The Impact of Digital Technology on the Celtics' Business
(02:33) The Challenges of a Finite Business Model
(08:41) The Impact of Team Performance on Revenue
(10:54) The Role of Sponsorship in the Celtics' Business
(13:47) Sponsor: Maxio | Tropic
(16:09) Playoffs and Revenue Generation
(23:28) The Role of Data in the Celtics' Business
(26:30) Enhancing the Fan Experience
(28:01) The Importance of Retention Rate
(28:11) Renewal Planning and Timing
(29:24) Sponsor: Thoropass
(30:40) Estimating the Lifetime Value of a Fan
(30:55) The Importance of Community Engagement
(32:13) The Impact of High Renewal and Retention Rate
(32:31) Revenue Generation from Different SKUs
(33:08) The Importance of Branding and Merchandising
(34:05) Learning from Other Sports Organizations
(36:26) The Unique Culture of Sports Industry
(36:54) The Competition for Fans' Time
(38:21) Long Ass Lightning Round: Career Advice and Insights

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode, Bonfire VC partner Brett Queener, who was also the first sales ops and sales strategy person at Salesforce, shares insights on staffing ratios and building sales capacity. Brett unleashes his wisdom on driving alignment and setting sales quotas, forecasting revenue for new products, targeting existing customers vs. net new, the importance of sales enablement, expanding product offerings and TAM, the risks of predicting revenue for new products, long-term forecasting and investment, and avoiding an identity crisis. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year.
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SPONSORS: Maxio | Tropic | Thoropass

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

Thoropass provides complete compliance management, continuous monitoring, and security audits through intuitive software and expert guidance – allowing you to do business with confidence. Learn more: www.thoropass.com.
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LINKS:
Brett's resources and templates for founders, strategy, and CFOs: https://www.bonfirevc.com/fuel
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FOLLOW US ON X:
@cjgustafson222 (CJ)
@bqueener (Brett)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
00:00 Introduction and Guest Welcome
00:19 Sales Strategy and Capacity Planning at Salesforce
00:39 The Evolution of On-Premise Companies
01:28 The Shift to Salesforce and the SAS Model
02:34 Building Your Own Army: Salesforce's Growth Strategy
02:50 Staffing Ratios and Sales Capacity
03:57 The Importance of Efficient Spending in Business
04:27 The Role of High Quality Developers and Account Executives
05:04 The Impact of Overfunding and Changing Goalposts
05:09 Understanding Business Economics and Balancing Growth
05:48 The Importance of Staffing Ratios in Sales Organizations
07:07 The Role of Salespeople in Business Growth
08:06 Understanding Business Segments and Hiring Perspectives
08:42 The Role of Marketing in Different Business Segments
09:32 The Importance of Understanding Your Business and Its Segments
11:47 The Role of Sales Capacity in Business Growth
13:55 The Importance of Forecasting in Business
15:28 The Role of Sales Rep Compensation in Business
18:52 Sponsor: Maxio | Tropic
20:12 The Role of Procurement in Business
21:15 Understanding the Ratio of Quota to OTE
25:21 The Importance of Growing Your Reps to Outrun Your Expenses
27:09 Understanding the Impact of Attrition in Business
30:19 Sponsor Break: Thoropass
30:52 Introducing a New Way of Doing InfoSec Audits
31:41 Exploring the Technical Side of the Business
32:26 Understanding the Importance of Developers and Salespeople
34:45 The Role of Product Management in a Tech Company
37:38 The Importance of a Strong Product Leader
41:41 The Challenges of Launching New Products
49:16 The Importance of Long-Term Forecasting
55:41 Understanding the Identity and Potential of Your Company
57:42 Closing Remarks and Contact Information

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

Matthew Newcomb, the CFO of Chime, joins host CJ Gustafson to delve into the complex world of the payments ecosystem. Matthew demystifies the business model of neobanks, different types of transactions, as well as how unit economics plays a key role in a neobank's business model and strategy. CJ's intro is about the controversy at Carta. Supercharge financial operations with Maxio. Request a demo at www.maxio.com/runthenumbers for 10% off your first year.
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SPONSORS: Maxio | Tropic

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.
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X / TWITTER:
@matthewsnewcomb (Matthew)
@cjgustafson222 (CJ)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(00:40) What happened at Carta?
(12:59) Matt talks about the ways that FinTech companies monetize their business models
(15:40) Making money off of free products
(17:50) Chime and the bank partnership model
(22:10) On user or engagement activity and acquiring banking relations
(23:26) Sponsor: Maxio
(24:50) Innovating to get things to go faster without breaking the rules and stepping on some toes
(27:20) How have the competitive moats either for Chime or in the industry evolved over time?
(33:00) Does fundraising for companies like Chime any different than fundraising for a typical SaaS company?
(35:00) The differences in costs between an ACH, a wire and an instant transfer
(37:35) B2C neobanks and B2B neobanks - are there any key distinctions between the two besides the customer?
(38:24) The lifetime value of a Chime user
(42:44) Chime's North star metric
(45:00) On the qualities that separate a good CFOs from a great CFO
(49:40) Matt's example of something he's screwed up on the job
(51:00) What would Matt tell his younger self knowing what he knows today?
(52:10) Rep Yo Stack sponsored by Tropic 🌴

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

Your most pressing questions are answered today by CJ Gustafson and Kurtis Hanni. They tackle Q's such as how best to scale the finance department for startups, what keeps them up at night, and predictions for how the CFO role will change in the near future. They also offer advice about cold emailing, relating to money, and dunking. Kurtis Hanni is a SMB CFO and writer of Frameworks & Finance (https://www.kurtishanni.com/blog)

🎧 Run The Numbers has a new Spotify and Apple show link. Follow the links to subscribe and ensure you'll never miss an episode. Give us 5 stars while you're at it!
Apple: https://podcasts.apple.com/us/podcast/run-the-numbers/id1723787140
Spotify: https://open.spotify.com/show/0zQCkklNnVgMD364kCW5SV
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SPONSORS: Maxio | Tropic

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.Maxio.com/runthenumbers for 10% off your first year.

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.
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X / TWITTER:
@kurtishanni (Kurtis)
@cjgustafson222 (CJ)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(00:41) Stupidest CFO moves
(02:40) Most common pain points that are keeping CEOs up at night?
(11:01) Sponsor - Maxio
(12:10) What does scaling the finance department look like for startup companies?
(18:39) Sponsor - Tropic
(30:37) What's the number one thing you attribute your career success to?
(41:30) What, if anything, do you think will change about the CFO role five to 10 years from now?
(47:00) Do you have any tactics for getting important people to answer cold emails?

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

Today we're flipping the script: CJ is the guest, and he's demystifying annual planning on The Role Forward podcast. CJ and host Joe Michalowski dive into the intricacies of annual planning, the practical steps of strategic planning (breaking down the process into digestible stages), and the complexities of financial forecasting in the startup ecosystem. Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line, head to www.tropicapp.io/metrics.

CJ's insights offer valuable lessons on balancing ambition with the realities of startup finance, providing a blueprint for listeners navigating their own annual planning.
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SPONSOR: Tropic

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

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LINKS:
The Role Forward Podcast: https://www.mosaic.tech/the-role-forward

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X / TWITTER:

@itsjoemic (Joe)
@cjgustafson222 (CJ)
@MosaicTechInfo (Mosaic)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(02:30) CJ's Journey to CFO
(03:54) The Annual Planning Process
(10:09) Sales Capacity Planning
(15:25) Sponsor: Tropic 
(18:37) Planning for Different Business Models
(20:33) Marketing Planning and Budgeting
(25:56) The Importance of Budgeting in Marketing
(25:55) The Value of Contractors in Startups
(26:37) The Role of Finance in Business Operations
(27:10) The Impact of R&D on Business Growth
(27:30) The Strategy for Planning Out the Rest of the P&L
(27:36) The Significance of Headcount in Tech Companies
(28:45) The Importance of Team Size in Business Planning
(28:48) The Role of R&D in Product Development
(32:16) The Process of Balancing Growth Plans with Investments
(33:32) The Pitfalls in Budgeting for Non-People Costs
(36:37) The Process of Bringing Together a Unified Plan
(41:57) The Role of Finance Tools in Business Operations
(45:00) The Importance of Listening in Finance

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode James Currier the founder and General Partner at venture capitalist firm NFX, guides CJ on the inner workings of marketplace businesses and network effects. He shares insights on the importance of finding a 'white hot center' when starting a marketplace, strategic ways to tackle the trademark chicken and egg problem, and the significance of retention as a metric. Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line, head to www.tropicapp.io/metrics
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SPONSORS:
Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.
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X / TWITTER:
@jamescurrier (James)
@cjgustafson222 (CJ)
@TurpentineMedia (Turpentine)
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LINKS:
https://signal.nfx.com/
NFX Content: https://www.nfx.com/library
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TIMESTAMPS:
(00:00) Intro
(00:42) Discussing the Chicken or the Egg Problem
(02:00)The Importance of Finding a Niche in Marketplaces
(09:20) Understanding the Economics of Marketplaces
(16:00) Sponsor: Tropic
(20:50) Discussion on Marketplace, Platform, and Aggregator Classifications
(25:25) Understanding Aggregation Theory and Network Effects
(26:09) Defining Platforms
(27:04) Exploring Substack as a Platform
(28:15) The Importance of Network Effects
(28:59) Discussing the App Store Fee Controversy
(31:30) Understanding Liquidity Ratio in Business
(32:50) Navigating Platform Risk in Startups
(35:35) The LTV to CAC Trap in Business
(38:40) Retention
(43:30) The Qualities of a Great CFO According to James Currier

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode, CJ Gustafson interviews creator and writer Kyla Scanlon about the role of the Federal Reserve and its impact on the economy. They discuss the concept of the 'Vibecession' which refers to the disconnect between consumer sentiment and economic data. The conversation also touches on the Fed's communication strategies and the challenges of understanding and predicting market reactions. Kyla also gives her take on crypto and offers advice for content creators wanting to break through. Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line, head to www.tropicapp.io/metrics.
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SPONSORS:
Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.
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TIMESTAMPS:
(00:00) Intro
(00:50) Mailbag question - What are some early indicators that there could be underlying softness in my business?
(09:43) The Vibecession
(12:41) The new economic normal
(13:54) What does the Fed actually do day to day and why Kyla is so fascinated with it
(15:18) Tools in the Fed toolkit and their monetary mechanism
(17:14) Fractional banking and why makes the economy go faster
(19:24) Shooting up like a rocket, falling like a feather: non-linear changes in the economy
(22:55) How is unemployment rate calculated and the confusion on economic metrics
(26:17) What else is going on with the Fed that is influencing rates that that impacts tech world or the startup world?
(27:17) Sponsor - Tropic
(33:01) Kyla explains the reevaluation of labor
(34:58) Long-ass lightning round: Which chairman of the Fed do you think could do the most push ups in their prime?
(35:57) Jerome Powell and what type of lunch Kyla envisions he eats everyday
(37:14) Can crypto save people?
(41:16) Writers that Kyla respects and looks up to online
(42:31) Kyla's advice to people thinking about putting themselves out there publicly and creating content
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X / TWITTER:
@kylascan (Kyla)
@cjgustafson222 (CJ)
@TurpentineMedia (Turpentine)
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LINKS:
Kyla's Newsletter: https://kyla.substack.com/

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com

In this episode, CJ Gustafson interviews Ryan Wash the Founder and CEO of RepVue whose mission is to help sales pros find the best companies to work for and ensure they're paid fairly. Ryan gives CJ a data-driven inside look into sales capacity, planning models, and sales rep commission plans. Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line, head to www.tropicapp.io/metrics

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SPONSORS:

Tropic is the next-generation Procurement Platform that’s helping modern CFOs take control of their budgets and bottom line. By combining approval workflows, supplier management, and pricing benchmarks all in one place, Tropic makes savings opportunities easy to find and act on. 🌴 Visit www.tropicapp.io/metrics to learn how.

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X / TWITTER:
@ryan_c_walsh
@cjgustafson222 (CJ)
@TurpentineMedia (Turpentine)
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TIMESTAMPS:
(00:00) Intro
(03:14) The Importance of Sales Rep Commission Plans
(04:57) The Reality of Sales Quota Attainment
(05:30) The Impact of Low Quota Attainment on Sales Organizations
(07:36) Understanding Sales Rep Compensation Structures
(12:52) Sponsor: Tropic (www.tropicapp.io/metrics)
(14:05) The Cultural Impact of Sales Quota Attainment
(19:10) Understanding Blue Ocean and Red Ocean in Sales
(22:32) The Ratio of Quota to OTE in Sales
(26:38) Comparing Compensation Plans in Different Business Models
(27:27) Understanding the Structure of Compensation Plans
(27:46) The Impact of Consumption-Based Models on Sales
(29:02) The Frustration of Overpaying Commissions
(30:31) The Role of Accelerators and Decelerators in Compensation
(30:57) The Controversy and Effectiveness of Sales Spiffs
(39:54) The Impact of Post-COVID Economic Conditions on Sales
(42:42) The Reality of Sales Rep Attrition and Tenure
(47:16) Tech Stack for Sales Reps

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit cjgustafson.substack.com