In this episode of the Founders Podcast, Colin Sanburg shares his journey from starting in a family business to becoming a fractional CFO. He emphasizes the importance of understanding business metrics, the dangers of focusing on surface-level numbers, and the foundational role of pricing in profitability. Colin discusses how to engage teams in profitability, the significance of tracking meaningful metrics, and the necessity of looking forward in decision-making. He also reflects on personal growth and the lessons learned throughout his entrepreneurial journey, providing valuable insights for founders and early-stage builders.

Chapters

00:00 Introduction and Inspirational Quotes

01:46 Colin's Journey and Business Philosophy

05:00 Understanding Metrics in Business

07:46 The Danger of Surface-Level Metrics

11:41 Reframing Metrics for Decision Making

15:49 Key Numbers for Business Health

18:55 Misunderstandings About Profitability

23:46 Understanding Profitability Challenges

29:09 Balancing Short-Term Profitability with Long-Term Sustainability

32:30 The Importance of Forward-Looking Decision Making

38:09 Lessons from Mistakes and the Path to Professionalism

40:07 Quick Fire Round: Essential Strategies for Founders