This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Matt Tresidder, Co-founder and CEO of Leadr, a software company dedicated to enhancing personal and professional development. He is also the author of the thought-provoking book, "Management is Dead: There's a Better Way." Randy and Matt discuss the evolving landscape of management, exploring why traditional management methods are becoming obsolete in today's hybrid and generationally diverse workplace. Matt also sheds light on the various shifts affecting today's workplace—particularly the challenges of leading hybrid teams and the differing needs of Gen X, Millennials, and Gen Z employees. Quotes"I like the sales analogy of moving from an IC to a manager because I think it's quite binary. People understand the act of selling, the act of managing, but it's apples and oranges. It literally is apples and oranges to say that someone's really good at selling and then say that they're just magically going to be able to teach someone else how to do it. It's not the same thing” -Matt Tresidder [04:08]“NPS is a very quantitative example. So, we have a pulse survey tool built within our platform called Leadr Insights, and it's literally doing what you just did. So, it's sending out a pulse survey anonymously to all your employees every single month. That allows me to stack rank the health of my managers based on what the employees would rate their experience at the company being.” -Matt Tresidder [27:59]Expert Takeaways Management Evolution: The shift from autocratic, top-down leadership to more empowering, developmental approaches.Hybrid Workforce Challenges: Balancing autonomy, freedom, and access to maintain an engaging work environment for both in-office and remote employees.Generational Differences: Understanding and adapting to the varying management styles preferred by Gen X, Millennials, and Gen Z.Importance of Regular One-on-Ones: The critical role of effective one-on-ones in fostering employee engagement and mitigating misunderstandings.Integration of Tech and Services: How Leader’s software, paired with tailored services, helps managers develop their teams and drive organizational health.Timestamps(00:15) From Sales to CEO: Matt Tresidder's Journey and Insights(03:03) The Crucial Difference Between Knowledge and Experience in Management(06:09) Challenges of Managing Hybrid Teams and Generational Differences(11:54) Balancing Autonomy and Community in Hybrid Work Environments(17:48) Clarity in Communication Prevents Workplace Misunderstandings(19:45) Transforming Managers into Coaches for Better Employee Development(29:24) Innovative SaaS Models: Integrating Services to Drive Adoption(35:30) Balancing Efficient Growth and Visionary Leadership in Tech Startups(39:41) Understanding Team Dynamics Through Working Genius and InsightsLinksMaxioUpcoming EventsMaxio Institute...

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Sahil Patel, CEO of Spiralyze, a firm specializing in optimizing website conversions through data-driven A/B testing. The conversation kicks off with an exploration of Spiralyze's mission to make websites the most efficient and productive sales tools for B2B SaaS businesses. Patel elaborates on common pitfalls companies encounter when A/B testing, such as relying on anecdotes, running meek tests, and facing operational bottlenecks. Sahil and Randy discuss the importance of utilizing comprehensive data analytics to inform testing processes, mentioning Spiralyze’s approach of crawling thousands of web pages to identify effective strategies. Quotes"A/B testing is the best way to continually get your website to perform better, to turn it into that high performing salesperson because if you don't A/B test, you're just doing ideas, hunches. Someone goes, “I heard that if you put the CEO's dog on the home page, you get more people to click." By the way, don't do that. A/B testing as a process is the best way to do it. But what most companies do is they test meek ideas. They do things like button color changes, or they test hunches and impulses." -Sahil Patel [06:52]“Sometimes my clients ask me, "Well, we have three products. Should we show a different product depending on what someone's interested in?" What I tell them is, "You're overthinking it. You actually don't want your audience thinking about what page that is." First of all, I don't actually think they care or remember. Number two, if they're thinking about the image, they're probably not going to convert. What you're looking for is an instinctive emotional response that you're trying to evoke for them. I call it the tinted window effect.” -Sahil Patel [34:00]Expert Takeaways Website as Sales Tool: Understand your website as the most expensive but crucial sales tool, crucial for driving leads and conversions.Show the Product: Highlighting the actual product prominently on the website boosts visitor engagement and conversions significantly.Effective Copywriting: Use short, bold headlines along with the rule of three to convey key messages succinctly.Bold Claims: Make clear, quantifiable, and positive claims to captivate the user's interest immediately.Optimize for Intent: Tailor landing pages and forms to align with user intent, simplifying navigation for high-intent users and minimizing distractions.Timestamps(02:35) The Importance of A/B Testing for Websites(05:52) Common Mistakes in A/B Testing(09:43) Operational Challenges in A/B Testing(12:47) Best Practices: Show Your Product(14:40) The Role of Copywriting(18:00) Bold Claims and Their Impact(20:48) Live Teardown: Maxio Homepage Review(27:16) Demo Request Page Insights(33:12) Asset Download Page RecommendationsLinksMaxioUpcoming EventsMaxio Institute Report

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, welcomes back Michelle Valentine, Co-founder and CEO of Anrok and a prominent figure in the SaaS industry known for her innovative strategies and effective leadership. Randy and Michelle explore the "Seven Secrets of Success," focusing on delivering results, building winning strategies, and shaping company values. Michelle shares her unique experiences and methodologies, including the concept of "murphyjitsu," a strategic approach to anticipate and mitigate potential failures in business projects. She also shares how creating culture holds people accountable and fosters growth, elaborating on the power of intuition and making space for reflection.  QuotesPeople want to work on winning teams, and so results matter. Rallying the team and seeing what you're doing together is really important. Creating a culture that holds people accountable and stretches people for those goals is absolutely the number one thing that a CEO needs to keep their eye on." -Michelle Valentine [02:40]“The best CEOs tend to be right a lot, and the only way to do that is to invest in building your intuition. In our last conversation, you and I talked about how to quantify how confident you are about something. This could be like, "I have low epistemic confidence, I'm medium, I have high epistemic confidence." Then you could even start prescribing a percentage on that. It really is so subjective.” -Michelle Valentine [26:57]Expert Takeaways Outcome-Driven Culture: Driving results and creating a culture that holds people accountable are paramount for a CEO's success.Murphy Jitsu Framework: An innovative approach borrowed from the Center for Applied Rationality, focusing on anticipating and mitigating what could go wrong in strategic plans.Shaping Values and Standards: Building a company's values and standards through a mix of aspirational and actual values, ensuring they evolve as the company grows.Building Intuition: The path to being 'right a lot' as a CEO involves honing one’s intuition through curiosity, pattern matching, and continuous learning.Effective Team Dynamics: The importance of transparent communication within executive teams, balancing one-on-one interactions with group problem-solving to enhance decision-making.Timestamps(00:05) Seven Secrets of Success for CEOs(03:35) Applying Murphyjitsu for Effective Risk Management in Business(12:58) Shaping Company Values and Standards for Long-Term Success(21:58) Balancing One-on-Ones and Group Discussions for Effective Leadership(32:51) The Importance of Reflection and Meditation for Problem Solving(35:28) Diagnose Before Deploying Resources for Efficient Strategy and OperationsLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Ray Rike, CEO of Benchmark IT, a company specializing in providing the SaaS industry with comprehensive and contextualized benchmarking data. Randy and Ray discuss the growth trends seen among private B2B SaaS companies, emphasizing how certain market dynamics are influencing growth rates. They further break down the distinction between small companies under $1 million in revenue and their larger counterparts, elucidating intriguing growth patterns and the impact of pricing models on these dynamics. Listen as Randy and Ray examine infrastructure industries, pointing out how investment behaviors and market conditions are shaping which sectors thrive.   Quotes“CAC ratio measures your sales and marketing expenses divided by your new ARR, which is new name customer and expansion customer ARR. But then be more granular, and look at your sales and marketing investment expenses allocated to the pursuit of new logos in the ARR. And divide that by the new logo, ARR. What I do with a lot of our customers is I actually build a matrix. " -Ray Rike [13:40]“One of the most illuminating things from the Maxio Institute report was you segmented by fixed rate pricing, that is, traditional subscription pricing and usage based pricing. Now, you did that for small companies, below a million and then above. So below a million, the fixed rate pricing companies were growing. They hit 44% in Q1 and 41% in Q2 of 24. Compare that to usage based pricing companies.” -Ray Rike [23:02]Expert Takeaways Private B2B SaaS Growth: Private B2B SaaS companies are currently experiencing an average annual growth rate of 17%, a significant yet stable rate compared to prior exuberant expectations.Small Business Resurgence: Companies with less than $1 million in annual revenue are seeing robust growth rates of 26% in Q1 and 21% in Q2 of 2024, suggesting a revival in the small business sector.Impact of Pricing Models: Fixed rate pricing is benefiting smaller companies with rapid growth, whereas usage-based pricing drives substantial growth for larger enterprises.Industry Investment Trends: Infrastructure-related industries like cybersecurity, transportation, and healthcare are thriving, in contrast to the slower growth in entertainment and e-commerce sectors.AI Evolution: Investment in AI, particularly foundational models, has increased dramatically, with the trend continuing to shape the SaaS landscape. Timestamps(00:04) Benchmarking SaaS Growth with Data-Driven Insights(05:24) Key Insights from Q2 Maxio Growth Report(11:43) Balancing Growth and Efficiency in Sales and Marketing Investments(19:33) Small Companies See Significant Growth Amid AI Investments(23:02) Usage Based Pricing Versus Fixed Rate Pricing in SaaS Growth(29:54) Impact of Inflation and Funding on B2B Tech Companies(33:45) Investment Trends and Business Models in AI Companies(38:52) Strategies for Scaling Companies and Optimizing Customer Profiles(46:35) Ray Reich on SaaS Wisdom and Learning from Industry ExpertsLinksMaxio

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Paul Barnhurst, an expert in Financial Planning & Analysis (FP&A). Known as the "FP&A Guy," Paul explores the evolution of FP&A over the past two decades, highlighting shifts from back-office reporting functions to becoming strategic partners within organizations. Randy and Paul discuss essential modeling principles and tools that today's FP&A professionals should master, including modern Excel capabilities and the strategic use of AI in forecasting and planning processes.  Quotes“FP&A is a lot more than just the reporting and the analysis. That is what I see as FP&A today. I think it's been a gradual shift and it's really accelerated the last few years.” -Paul Barnhurst [09:07]“I think the most mature thing and where we're pricing the most benefit and planning is with machine learning, predictive modeling. Now, when we talk generative AI, I think there are a few areas that are going to be really helpful, where we're seeing the most use right now. I think the number one area is helping with emails, content, brainstorming, writing.” -Paul Barnhurst [31:34]Expert Takeaways Career Shifts and Entrepreneurship: Paul Barnhurst’s journey from government procurement to a leading FP&A influencer showcases the importance of being open to opportunities and continuous learning.Evolution of FP&A: The transition from back-office reporting to strategic business partnering has made FP&A a critical function in navigating today’s rapidly changing business environment.Technological Advancements: Advances in cloud-based SaaS technologies and the expanded capacity of modern tools like Excel have revolutionized data management and analysis in FP&A.Financial Modeling Best Practices: Effective model design is paramount. Principles such as color coding, structured inputs and outputs, and avoiding hard-coded values ensure reliability and scalability.AI Integration: The role of AI in finance, particularly generative AI and machine learning, is set to make FP&A both more strategic and technically involved, allowing for more sophisticated decision-making processes.Timestamps(00:04) Navigating Career Shifts and Embracing Opportunities in FP&A(06:54) The Evolution of FP and A from Reporting to Strategic Partner(10:30) The Evolution of Data Analysis and AI in Finance(17:08) Top Financial Modeling Practices and Common Pitfalls(19:04) Challenges and Trust in Building Financial Models for Tech Startups(27:13) The Role of AI and Machine Learning in Finance(36:15) Key Metrics and Influences in SaaS Business Growth(38:23) Influential Figures in Finance, AI, and Financial ModelingLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton...

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Clayton Whitfield, Co-founder of SaaSOptics, a company that revolutionized financial operations for SaaS businesses by addressing critical gaps in their finance and operational systems. Clayton discusses the evolving roles within the office of the CFO, particularly focusing on critical SaaS metrics like revenue recognition, customer churn, and the composition of revenues. Randy and Clayton also underscore the importance of a finely-tuned work environment that facilitates a balance between front-office growth and back-office efficiency. Quotes“When you're trying to run a SaaS business to get your revenues right, get your metrics right and all that kind of stuff, especially a growing SaaS business, if you use all those disconnected tools, it puts a lot of pressure on the finance team and all those disconnected tools as you grow." -Clayton Whitfield [01:03]“The big thing for SaaS in particular is revenue recognition. The revenue recognition rules are just different, right? If you go and mow somebody's lawn and give them an invoice or let them or run their credit card, you basically can take all the revenue right away because you've satisfied all the rules for recognizing that revenue.” -Clayton Whitfield [14:10]Expert Takeaways Foundational Insights on SaaSOptics: Clayton Whitfield elaborates on the journey and challenges that led to the creation of SaaSOptics, providing a historical perspective on solving pressing financial issues for SaaS companies.Critical SaaS Metrics: The episode emphasizes the importance of metrics like revenue recognition, customer churn, LTV to CAC, and the nuances in defining these metrics to accurately manage and scale a SaaS business.Evolution in the Office of the CFO: Clayton discusses how the role of CFOs has evolved with the advent of SaaS-specific financial challenges, and how businesses must balance their investment between front-office growth and back-office efficiency. Strategic Leadership in SaaS: Both guests offer insights into what makes a great CEO, focusing on building effective teams, cultivating a strong culture, and the importance of allocating capital strategically.Timestamps(00:04) The Journey and Success of SaaSOptics(07:13) Transforming SaaS Business with Daily Invoicing Integration(09:28) Navigating SaaS Growth and Financial Maturity(14:10) Key Metrics for Running a Successful SaaS Business(20:42) Understanding and Utilizing Key Business Metrics for Growth(22:55) Understanding Metrics and Segmentation in SaaS Businesses(30:01) Building a High-Integrity, Hardworking Team for Success(34:40) Critical Skills for CEOs: Capital Allocation and Detailed Involvement(38:29) Key Metrics, Essential Reads, and Influential Voices for CEOsLinksMaxioUpcoming EventsMaxio Institute Report

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Chris Morgan, CEO of LBMC. Randy and Chris highlight the evolving intricacies in financial operations within B2B SaaS companies. They discuss the necessity for moving beyond simple cash accounting to sophisticated systems capable of managing accrual accounting and providing deeper insights into business performance. With a rich background in accounting and finance, Chris talks about the significance of order-to-cash cycles, the dangers of revenue leakage, and the sophisticated demands placed on modern CFOs in today's data-rich business environment.Quotes“I think it’s really consistency. Not all businesses are the same. And you really want to have somebody who’s going to take the time and really kind of dive in and understand the business and the nuances around it so they can kind of better guide you on how all that should be captured and reported.” -Chris Morgan [19:54]“I think if a client is keeping their customers and growing and they're not losing business, then that's a great business, especially if they're hitting those two really well. And hopefully on the other side of it they're not losing customers, they're growing and adding customers as well from that standpoint.” -Chris Morgan [37:07]Expert Takeaways Implement Robust Accounting Systems: Utilize specialized SaaS tools to manage accounting operations, ensuring accurate and timely financial data.Maintain Consistency in Reporting: Develop and adhere to standardized methods for financial reporting and analysis.Prepare for Growth: Anticipate the inflection points in business growth that require enhanced financial oversight and transition smoothly with prepared systems and personnel.Embrace a Strategic Role: CFOs should evolve beyond the numbers, contributing to strategic business decisions and operational efficiencies.Timestamps(00:04) The Evolution of the CFO Role and LBMC's Growth(02:30) Outsourced Accounting Solutions for Growing Businesses(07:24) Navigating Financial Operations for Early-Stage B2B SaaS Companies(09:42) The Critical Role of Accurate Accounting in Capital Raises(16:12 Complexities of Consumption-Based Models in SaaS Revenue Recognition(28:40) Creating Consistent and Digestible Financial Reports(30:12) Strategic Financial Insights for SaaS Companies(33:38) The Importance of Data Visualization for Modern CFOs(33:44) The Evolution of CFOs from Compliance Officers to Strategic Partners(37:07) The Importance of Gross Retention and Churn in SaaSLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Chris Morgan LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Cory Sanford, Vice President of Culture and Talent at Guidant Financial. Randy and Cory dig into what it takes to be a successful CEO, offering actionable advice for founders, leaders, and aspiring entrepreneurs. Cory's innovative framework for measuring and fostering organizational culture through connection is meticulously detailed. While emphasizing the importance of effective one-on-ones and streamlined performance management, Cory also discusses the need for simplicity and clarity in leadership practices. Quotes“There's not a silver bullet in leadership. The closest thing that I have found though is effective in regular one-on-ones. The most important relationship in the workplace is the direct supervisor relationship. At Guidant we've really invested in making sure we're hiring good people leaders, not just technical experts, but these are people that may actually have less technical expertise. But we know are actually going to be the better people leaders because that relationship is so important.” -Cory Sanford [26:54]“I like to say that a good onboarding is the best recruiting insurance. And so investing in onboarding. When emotions are high, the chance for high leverage and high success is equally high. And so when people are nervous starting a job, we know we can make a big impact by investing there. So we give them a partner in crime. Somebody that they can ask all the questions.” -Cory Sanford [31:48]Expert Takeaways Cultural Stewardship: The CEO should be the chief storyteller, setting clear values and principles exemplified through consistent storytelling and strategic communication.Effective Questioning: As one ascends the organizational hierarchy, the skill set should shift from having answers to asking the right questions, fostering a culture of curiosity and continuous improvement.Connection as Culture: Cory's framework posits that culture is fundamentally about connection – to purpose, leaders, and each other. Measuring and acting upon these connections drive a strong organizational culture.Performance Management: A simplified approach to performance reviews can foster better conversations and relationships, focusing on impactful and actionable feedback.Strategic Engagement: Regular, meaningful engagement throughTimestamps(00:04) Unlocking Potential: HR Strategies for Remote Companies(02:21) Empowering Small Business Owners Through Retirement Fund Financing(06:05) Seven Secrets of Success for CEOs(14:06) The Importance of Asking Good Questions as a CEO(20:21) Measuring and Enhancing Workplace Culture Through Connection(24:56) High Participation in Global Virtual Events at a Hybrid Company(26:44) The Importance of Effective One-on-Ones in Leadership(30:15) Building Connections and Best Practices for Remote Teams(37:16) Balancing Performance Reviews with Budget Constraints and Calibration(43:00) Metrics, Business Books, and InfluencersLinksMaxioUpcoming Events

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Alex Shartsis, a seasoned expert in go-to-market strategy and execution for early-stage companies. Alex shares his extensive experience working with startups, highlighting crucial aspects such as hiring the right talent, setting realistic goals, and managing investor expectations. Randy and Alex discuss the significance of hiring competent sales leaders, the importance of revenue operations, and strategies for maintaining honest communication with investors. Listen as Alex shares valuable insights for technical founders navigating the complexities of scaling their businesses from seed to Series A and beyond.Quotes“I think that the thing that people forget is that there are people out there looking for jobs at startups, that are excited about that journey and want to go on that journey from the beginning. If you find the right person with the right mix of skills and who is looking for that, whatever problem you're solving will appeal to them. And you'll be able to recruit them against a Google, or a Facebook, or a Series B, or Series C company, because they want the added responsibility and they want to have a bigger impact than they would at a later stage company.” -Alex Shartsis [09:52]“The way I work with people on it is to really break things into smaller problems and turn it more into an engineering problem. Let's break this into its component parts, run two or three experiments, not all of them, not throw the whole thing out and do it all over again, but figure out what key areas we think are most broken and try and fix those, and maybe that unlocks the system functioning properly again. I mean, I think that's a way to run a business, you're just constantly innovating and making things a little bit better each day.” -Alex Shartsis [32:49]Expert Takeaways Hiring the Right Talent: Emphasize the necessity of engaging with customers firsthand before hiring sales personnel, and ensure the process of hiring is meticulous and involves checking references comprehensively.Set Realistic Goals: Founders should anchor their strategies in achievable goals and revise them based on the data collected over time to maintain credibility.Be Honest and Transparent: Keeping investors in the loop with realistic projections and being transparent about the progress helps build and maintain trust.Avoid Catastrophizing: Break down problems into smaller, manageable tasks rather than perceiving them as insurmountable challenges.Importance of Revenue Operations: Implementing robust revenue operations early on can streamline processes, prevent revenue leakage, and support scalable growth.Timestamps(00:04) Navigating Go-To-Market Strategies for Early-Stage SaaS Companies(03:44) Hiring the Right Salesperson for Early-Stage Startups(07:33) Challenges and Strategies for Hiring Early Stage Sales Talent(12:03) Hiring the Right Salesperson for Early-Stage Companies(18:39) Effective Sales Management and Early Stage Expectations(20:12) Realistic Goal Setting for Early Stage Founders(23:31) Sales Velocity and Its Impact on Business Profiles(24:05) The Importance of Trust and Long-Term Relationships in Venture Capital(30:03) Strategies for Founders to Overcome Challenges and Scale Effectively(35:16) The Importance of Revenue Operations and Automation for Startups(42:00) Importance of CAC Payback for Efficient Growth in Startups(47:18) Influential Entrepreneurs and Their Unique Approaches to Business...

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Bill Hollowsky, VP of Accounting Services at Kruze Consulting. Bill shares his journey through various organizations like KPMG, Oracle, and SunGard. He offers insights into the changing landscape of accounting in the startup world, and the importance of implementing effective technology stacks from QBO to NetSuite, and shares his perspective on the industry's labor shortages. Randy and Bill discuss critical industry trends, such as the cryptocurrency boom and bust, as well as the recent AI surge, and explore what to expect in the near future. Quotes“When we transition new clients to us, we do a KYC and due diligence. We've seen some crazy stuff on the books and balance sheets. So what we'll absolutely do is go back and recast and redo and bring it up to standards. And in some cases, we actually offered to go ahead and amend taxes, so that everything is in sync and matches. ” -Bill Hollowsky [17:32]“As crypto took off and then the Web 3.0 trends happened, of course, it became a really big VC funding frenzy. But boy, folks were really writing checks into the start-ups that were impacting the whole market, which was really cool. So in a way, we had to become crypto and Web 3.0 experts very quickly. And if you looked at the GAAP standards and methodology and the FASB codification, it was very archaic.” -Bill Hollowsky [22:51]Expert Takeaways The necessity for SaaS accounting firms to leverage advanced technology stacks for efficient handling of financial tasks.How Bill's team uses a blend of off-the-shelf tools and custom-built software to meet diverse client needs.Evaluating transition phases where startups move their accounting systems, especially during significant funding rounds.An emphasis on the current talent shortage in the accounting profession and Kruze Consulting's strategic adaptation.The emergent importance of AI and how it is poised to revolutionize workflows in SaaS accounting services.Timestamps(00:04) Agile Methodologies in Accounting and SaaS(03:21) Leveraging Technology for Efficient Accounting in Fast-Growing Firms(06:50) Scaling Startups with Efficient Back Office Technology(11:34) Navigating Accounting Transitions in Growing B2B SaaS Companies(16:03) The Importance of Accurate Accounting in B2B SaaS Acquisitions(18:48) Navigating Startup Challenges Amidst Black Swan Events and Market Shifts(24:29) AI's Impact on Business Efficiency and Workforce Augmentation(29:42) Innovative Hiring Strategies Amidst an Accounting Labor Shortage(38:46) Mentorship and Inclusivity in Remote Work Environments(44:26) Insights on Client Service, Influencers, and Startup PodcastsLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Michelle Valentine, CEO of Anrok. Michelle’s multifaceted career journey—from civil engineering at Stanford to coding at Airtable, and her foray into finance and venture capital—sets the stage for a deep dive into the evolving role of the CFO in today's dynamic market. Michelle underscores the role of technology in transforming how CFOs and companies operate, urging leaders to prepare for a paradigm shift where creating software becomes incredibly efficient.Listen as Michelle and Randy explore investor skills, how CFOs can leverage AI, and strategic planning that helps companies thrive amidst the current economic disruptions. Quotes“I think as an investor it's obvious why that's important, how to make good bets, but also for CEOs and CFOs where you're really capital allocators. And figuring out where your company is, where the market is at present, and where you should be allocating your resources in the future is critical.” -Michelle Valentine [05:33]“ One thing that I've learned through looking at a lot of software companies as a VC is that you really have to earn your right to go multi-product. If you truly believe your market is massive, you should go deep and really make sure that you've put a big stake in the ground. You are the standard in that market before you branch out to too many products and spread yourself too thin.” Michelle Valentine [15:19]Expert Takeaways Evolving Product-Market Fit: Product-market fit is a continuous journey, especially crucial for companies aiming to expand into new segments.Strategic Capital Allocation: Effective capital allocation requires clear visibility of the present and flexible mental models to adapt to rapid changes.Role of AI in Finance: CFOs need to understand and integrate AI tools to enhance operations, from automating workflows to strategic market positioning.Importance of Segmentation: Tracking metrics like CAC and net dollar retention by segments can provide deeper insights and efficiency in scaling businesses.Building Effective Teams: Encouraging teams to master AI tools and prompt engineering can significantly enhance productivity and decision-making.Timestamps(00:14) Michelle Valentine's Journey from Civil Engineering to CEO(05:22) Aligning Investor and Executive Strategies Through Probabilistic Thinking(10:23) Optimizing CAC Ratios and Segmentation for B2B SaaS Growth(14:11) Challenges and Strategies in Scaling and Diversifying Product Lines(20:50) The Evolving Role of CFOs in the AI Landscape(29:54) Favorite Metrics, Books, and Influencers in BusinessLinksMaxioRandy Wootton LinkedIn Michelle Valentine LinkedInExcession by Iain M. BanksMoney Stuff with Matt Levine

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Dan Balcauski, Founder and Chief Pricing Officer of Product Tranquility. Randy and Dan explore the nuances of pricing from multiple angles and unravel the intricacies of how to structure effective pricing strategies that align with company objectives to drive both revenue and profitability. Dan emphasizes that successful pricing involves far more than just setting the right price—it's about understanding who you charge and how you charge. They also discuss the emerging impact of AI on pricing models and the importance of sophisticated tools and structures for effective pricing governance. Quotes“Who and how you charge determines your success more than what you charge.” -Dan Balcauski [06:50]“One of the major tools in the private equity playbook is pricing. It's one of the first things that they do. And why is that? It's because it's an untapped lever for growth and everyone's afraid to touch it.” -Dan Balcauski [29:28]Expert Takeaways Importance of Objectives: Align pricing strategies with clear, agreed-upon business goals, whether it's maximizing revenue, profit, or growth.Value Conversations Over Pricing Conversations: Engage customers in discussions about the value your product delivers rather than merely focusing on price points.Pricing Governance: Establish a pricing council to ensure cross-functional buy-in and ongoing adjustment to pricing strategies.AI in Pricing: Use AI to enhance existing capabilities and consider outcome-based pricing models rather than just passing token costs to customers.Iterative Learning: Don’t fear experimenting with pricing models; learn and adapt rather than aiming for perfection out of the gate.Timestamps(05:44) Dispelling B2B Pricing Myths and Effective Customer Conversations(14:31) Balancing Revenue and Profit in Pricing Strategies(21:44) The Importance of Strategic Pricing and Cross-Functional Alignment(29:43) Overcoming Fear to Unlock SaaS Growth Potential(32:19) Navigating AI Pricing Strategies and Best Practices(41:13) Insights on Metrics, Books, and Influencers LinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Dan Balcauski LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Nicolas Boucher, an AI Applications in Finance expert. Nicolas shares his rich career trajectory from PwC auditor to corporate finance leader and his eventual transition into AI and finance training. He sheds light on the immense potential of AI in streamlining financial processes and enhancing decision-making. Nicolas and Randy discuss automated invoice processing, real-time financial reporting, and leveraging AI for strategic finance operations. They also explore the transformative impact of AI on business efficiency, explaining its practical applications and the importance of continuous learning for finance professionals. Quotes“We get a lot of data. The problem is we pass through the data to management and then we don't help. There is a science that says that the brain registers and captures an image 60,000 times faster than a word or a figure. So if you really want to… advice for everybody working in finance and wanting to be noticed by management, thinking about the Napoleon map, send the graph that the management will remember and they will. This is what will stick. Not a long email. Not a nice report. The graph will stick.” -Nicolas Boucher [13:53]“We are the champions of Excel, we are the champions of ERP. I believe that we can be that good and be the champions of business in AI. We have a culture of using technology for our job. With AI, there is a lot of data that we can make sense of, and I think finance is ready to use AI.” -Nicolas Boucher [18:26]Expert Takeaways Career Transition Insights: Nicolas’ shift from auditing to corporate finance and eventually to AI and finance training, emphasizes the importance of continuous learning and adaptability.AI in Invoice Processing: How AI can drastically reduce manual processing time in invoice handling and expense management.Real-time Financial Reporting: Integrating various sub-ledgers using AI tools like Puzzle IO to produce real-time financial reports and insights, improving business decisions.Practical AI Applications: Asking the right questions to AI models to get the most useful and specific answers, especially in financial analysis.Learning and Networking: Encouraging finance professionals to leverage communities and resources to advance AI adoption.Timestamps(00:12) The Impact of AI on Finance(07:28) From Corporate Finance to Empowering Millions Through Digital Coaching(12:50) The Power of Visual Data Representation in Finance(20:05) Trusting AI Tools for Financial Analysis and Reporting(27:13) AI Enhancing Invoice Processing and Accounts Payable Efficiency(37:02) Key Metrics, Influencers in AI and Finance(43:44) Learning and Entertainment in Effective KeynotesLinksMaxioUpcoming EventsMaxio Institute Report

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with two SaaS industry veterans, Amber Wendover, Principal at Thinking People Consulting, and Tom Perry, Chief Career Officer and Founder of Engaged Pursuit. Randy, Tom, and Amber discuss the intricacies of employee engagement and the indispensable role that personal growth plays in organizational success. They take a look at the poignant necessity for CEOs to focus on unlocking their team's potential, referencing Randy’s seven secrets of CEO success that are pivotal in steering organizational strategies. Amber and Tom also talk about the "8th" secret - the need to invest in the "people's tribe," empowering the individual contributors and front-line managers who often form the backbone of company operations.Quotes“As a leader, when you ask your team if they need something different, that creates a place where we can all have a discussion and a dialogue. Leaders, state your intentions even if you have an unintentional impact.” -Amber Wendover [25:45]“The best leaders are ones who show up as their true selves, who are authentic, who don't have all the answers, who are inspiring, who can have meaningful conversations, who talk about their weekends, who talk about their families.” -Tom Perry [19:13]Expert Takeaways Recognize the critical transition from individual contributor to manager and the importance of management excellence.Understand the value of fostering a growth culture versus a genius culture in the workplace.Acknowledge the importance of authentic leadership and human connections, especially in the context of remote or hybrid work environments.Remember the influence of personal brand and intention in leadership, contributing to a growth-oriented and learning-supportive environment.Timestamps(01:46) Unlocking Potential: The Seven Secrets of Successful CEOs(04:50) Addressing the Needs of the Forgotten Middle Community(10:26) Identifying the Eighth Secret of CEO Success(14:39) Transforming Corporate Culture: Growth Versus Genius(20:52) Fostering Authentic Leadership and Growth Culture(29:41) Reflecting on Legacy and Building Supportive Leadership Networks(32:14) Interpreting Interactions With Respect and Intention(44:48) Empowering Employee-Driven Learning and DevelopmentLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Amber Wendover LinkedIn Thinking PeopleTom Perry LinkedIn Engaged Pursuit

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Josh Aharonoff, CEO of Mighty Digits and Your CFO Guy, and the Founder of Modelwiz. With a diverse background that includes a start at the Big Four accounting firm KPMG, experience as a startup founder, and strategic finance roles, Josh has carved out a niche as a fractional CFO. Josh emphasizes the importance of having a robust financial model, detailing the four stages of building one. He also highlights the critical differences between traditional accounting roles and the value-add of a fractional CFO, especially for seed and Series A companies. Randy and Josh discuss actionable takeaways that underscore the essence of financial rigor and strategic planning for burgeoning SaaS companies.Quotes“I think the key to having a month-end close completed in a short timeframe is first, real-time classification, categorization, reconciliations, not waiting until the next month when all the data is available to be able to do all of that.” -Josh Aharonoff [14:13]“The financial model should serve as a centralized hub for all the information related to what's happening in the business historically, as well as what you think is going to happen in the future.” -Josh Aharonoff [19:27]Expert Takeaways The Importance of a Robust Financial Model: The four stages of creating a vital financial model, including revenue build, P&L layering, balance sheet integration, and the final stage connecting the chart of accounts to accounting software.Differentiating a Fractional CFO: Unlike traditional accountants, a fractional CFO offers nuanced, strategic financial guidance tailored to the specific growth needs of startups.Financial Operations and Month-End Close: Critical best practices for financial operations, emphasizing real-time classification, standard operating procedures, and efficient month-end close activities.Leveraging Excel for Financial Planning: Modelwiz, an Excel plugin that automates complex financial modeling processes, highlighting the ongoing relevance and power of Excel in financial operations.Engaging Content for Finance Professionals: With Your CFO Guy, Josh has built a significant following by providing daily newsletters on various finance topics, showcasing the value of consistency and engaging content.Timestamps(00:40) From Big Four Accounting to Startup Founder(04:14) Lessons Learned from Entrepreneurial Failures and Consulting Success(13:30) Automating Financial Forecasting with Model Wiz and Excel Integration(23:19) Four Stages of Building a Financial Model(32:44) The Importance of Budget Versus Actuals in Financial Reporting(44:25) The Importance of Gross Margin in SaaS Companies(45:40) Negotiation Strategies and Influencer Insights in SaaS TechLinksMaxioUpcoming EventsMaxio Institute Report

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Jon Cochrane, Director of the Maxio Institute, to discuss the latest insights from their SaaS Growth Trends report. Randy and Jon delve into the significant findings of the Q1 2024 report, discussing the differences in growth patterns between subscription-based and consumption-based pricing models, as well as the dynamics between companies below and above one million dollars in revenue. Jon also shares a detailed analysis of the strongest and weakest sectors, with notable mentions of the developer and engineering tech space and the transportation and logistics sector. Quotes“There are unique challenges that private markets face. And you typically don't know if things are kind of trending in the right direction or companies are struggling until you kind of get that press release that comes out and takes everybody by surprise.” -Jon Cochrane [02:42]“People who know how to leverage AI are going to outperform people who don't know how to leverage it.” -Jon Cochrane [23:24]Expert Takeaways Growth Uptick: SaaS companies are beginning to see a rebound in growth, with a noticeable improvement from previous quarters, particularly in usage and consumption-driven models.Pricing Models: Companies utilizing consumption-based pricing models are currently outperforming those with annual subscription renewals.Revenue Tiers: A distinct difference in performance exists between companies under and over one million dollars in revenue, with smaller companies experiencing a significant growth spike.Vertical Performance: Developer and engineering tech, and the transportation and logistics sectors have shown substantial growth, while e-commerce and retail lag behind.Market Dynamics: Insights into the dynamics between public and private market trends, indicating a cautious optimism in the industry.Timestamps(04:29) Economic Growth Uptick Amidst Recession Uncertainty(10:00) Revenue Growth Dynamics for Early Stage vs. Established Companies(20:10) Navigating Layoffs and Efficiency in the Tech Sector(22:33) AI Augmentation's Impact on Efficiency and Investment in Marketing(25:03) E-Commerce and Retail Struggle Amid Consumer Price Sensitivity(27:06) Unpacking What Makes Top 10% Companies Stand OutLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn Jon Cochrane LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Nathan Latka, CEO of Founderpath. Known for his entrepreneurial spirit, data-driven approach, and thought-provoking insights, Nathan shares his three-phase entrepreneurial journey, starting with his initial foray into the booming social media world and progressing into the creation of the Latka Agency, and then Founderpath. Randy and Nathan discuss the changing landscape of the startup market, the importance of media-led growth, and the role of debt financing in funding software companies. Nathan shares insights from his extensive experience interviewing SaaS CEOs and highlights the need for founders to have a clear vision, build their tribe, and understand the value of inorganic growth. Quotes“You cannot buy attention anymore. Doesn't matter how much money you have. If you are a bootstrapped founder competing against a VC-backed competitor, and they're trying to buy attention, but you're more creative and you have figured out to get the attention of your customers in a creative way, you will win long term.” -Nathan Latka [11:35]“I think there are two kinds of founders. There are founders that sort of read and are consumers of intellect all day long and they're terrible at taking action. I would much rather go for the founder that takes action quickly and learns from a person versus the one that just reads all day.” -Nathan Latka [28:50]Expert Takeaways Successful entrepreneurs often have a deep grasp of industry pain points and innovate based on their experiences, leading to founder-market fit.Debt financing can be a strategic alternative to VC funding for SaaS startups, offering non-dilutive capital that aligns with an entrepreneur's vision for growth.In the current digital landscape, companies must earn attention through creativity and engaging content, rather than solely relying on paid advertising.Savvy founders are turning to inorganic growth and financial engineering, including M&A activities, to scale their businesses and achieve arbitrage opportunities.The role of the CFO in a SaaS company has evolved from purely managing finances to being strategically involved in driving growth and operational efficiency.Timestamps(02:20) Aspiring for Financial Freedom Through Entrepreneurship(06:41) Podcasting as a Long-Term Investment in SaaS Marketing(10:06) Venture Debt and Revenue-Based Financing in Software Deals(15:44) Evolving Strategies for Startup Success and Market Attention(24:09) Distinguishing Founder and CEO Roles in Company Growth(30:42) VC Involvement and Board Dynamics in Startups(38:42) Transitioning CFO Roles and Optimal Hiring Timelines(43:13) Insights on Influencers and Intelligent Investment AnalysisLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Joelle Kaufman, a seasoned B2B SaaS expert. Together, they delve into the intricacies of what makes CEOs successful, the importance of executive team dynamics, and strategies for driving company growth in challenging markets. Joelle Kaufman shares her five foundational components for CEO success, exploring themes like organizational focus, effective communication, driving team motivation, empowering teams through growth opportunities, and the embodiment of company values by leaders. Randy and Joelle also discuss the essential aspects of creating a high-functioning revenue engine and the nuances of handling business curveballs, providing actionable insights into executive decision-making and strategic alignment.Quotes“You must focus the organization with clarity, clarity of vision, of purpose. That will lead to clear missions that support that vision, it will lead to prioritization and most importantly, exclusion of what you are not going to do.” -Joelle Kaufman [02:52]“We're always getting better. We are improving because we're making mistakes and we're learning. That becomes invigorating.” -Joelle Kaufman [44:33]Expert Takeaways CEOs must establish organizational focus, excluding less critical activities to conserve valuable company resources.Communication effectiveness is measured by what listeners understand and how they act on the message.Autonomy is the key motivator for employees, but it requires balance with transparency to avoid surprises.Investing in current team members to improve their skills can be more beneficial than frequently replacing personnel.Effective executive teams recognize curveballs and utilize their collective strengths to make strategic adjustments.Timestamps(02:52) Essential Strategies for Effective CEO Leadership(08:23) Cultivating Leadership and Embracing Failure in Organizations(15:43) Discovering Process Communication Model's Impact on Interactions(23:11) Identifying and Engaging Your Ideal Customer Profile(29:57) Differentiating Your Product in a Competitive Market(36:46) Mastering the Curveball Method in Leadership and Life(43:58) Embracing Mistakes for Continuous Improvement in LeadershipLinksMaxioUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn  Joelle Kaufman LinkedInProcess CommunicationGTM Flow

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Alex Diaz-Asper, Principal & Founder of Tarsus, and an experienced figure in the financial dimension of SaaS businesses. With an extensive background in private equity and M&A, Alex shares key financial concepts and strategies within the SaaS landscape. Randy and Alex explore the importance of clean financials, the impact of accounting errors on M&A, and navigate through the potential risks and rewards of dealing with client concentration. Delving into the transition from PE to an operational role, Alex also shares insights from the strategic partnership between finance and sales divisions in scaling SaaS businesses. Quotes“If you have large annual upfront invoices you can't assume cash comes in evenly over the twelve months. So if you signed everybody in Q4, you had a great Q4 and Q3, and you're starting to run out of cash and you know, you got it. You see down the horizon. Okay, here comes all the renewals and new cash is coming in. So that's super important from the cash flow models to be able to see those kinds of ebbs and flows of cash flow and having a tool to help you track the renewals.” -Alex Diaz-Asper [23:51]“One thing that has changed a lot is how the CFO is a big part of the collaboration, especially with the sales team, early stage. It is super important that we are partners with each other, the salespeople and the CFO, because we need to know how to manage cash and we need to know new sales as well.” -Alex Diaz-Asper [35:00]Expert Takeaways Clean books and accurate revenue recognition inform go-to-market strategies for SaaS businesses.Managing client concentration: advocating for no more than 20% revenue dependence on a single client.Alex’s transition from a PE background to an operational role underscores the importance of building a strong finance team around you.Understanding revenue definitions: the distinction between GAAP revenue and analytical revenue (ARR), both crucial for different stakeholders.Staying on top of technology tools and adopting efficient RevOps strategies for SaaS growth.Timestamps(02:51) Accounting Errors as Deal Breakers in M&A(06:02) Mitigating Risks of Client Concentration in Business(10:03) Evolving Financial Roles in Early Stage Companies(15:41) Decoding Financial Operations and Revenue Recognition(26:30) Efficiency in Finance Through Technology Adoption(32:10) Evolving Roles and Tools for Today's CFOs in B2B SaaS(40:46) Speed Round: Favorite Metrics and InfluencersLinksMAXIOUpcoming EventsMaxio Institute ReportRandy Wootton LinkedIn  Alex Diaz-Asper LinkedIn

This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Rob Brown, Co-Founder of Accounting Influencers Roundtable (AIR), and author of the book “Build Your Reputation.” Rob and Randy delves explore the evolving responsibilities of accountants and accounting firms as they navigate an industry that demands a shift from traditional compliance to more strategic advisory roles. Rob touches upon the challenges faced due to an aging profession, technological advancements, and the shift towards value-added services. Listen this week as Rob shares effective strategies for making an impact and selling to accountants, highlighting the significance of establishing authentic partnerships and providing impactful solutions. Quotes“Accountants have to be able to sell an argument, an opinion, an excuse, a statement, a fact. They have to be able to get behind the stats. You're asking much more of an accounting and finance professional now than you ever were. That is why it's rarefied air to get somebody that can do all of those things and this is why we've got a problem.” -Rob Brown [18:54]“There's so many different ways to define an influencer. There's a lot of people that make a lot of noise on social media and they look popular and they have thousands of followers, but their content is lousy. It's lame. It's unoriginal. It's not innovative. They've regurgitated it from other people or they've said the same thing for years. You would look at them and think they're influencers. But I measure influence by relationships rather than noise and social media metrics.” - Rob Brown[48:27]Expert Takeaways The transition from traditional teaching to influencing the accounting industry is underscoring the need for education systems to instill real-life applicable skills.Accounting is an aging profession facing a talent shortage, prompting a shift from compliance-centric roles to advisory and consultative engagements.Technological savviness, commercial acumen, people skills, and selling abilities are identified as key skills for modern accounting professionals to remain relevant.Private equity firms are increasingly investing in accounting firms, seeing potential in streamlining operations and capitalizing on technological efficiencies.Selling to accountants is challenging due to their risk-averse nature; building strategic partnerships and establishing credibility is crucial for success in this market.Timestamps(00:02) Rob Brown intro(06:23) The evolving relationship between accounting firms and startups(11:33) Accountants are reinventing themselves as consultants, coaches, and mentors(19:18) The need for additional certifications to develop business awareness(25:47) AI may not have a rapid impact on the accounting industry(34:05) Three ways to get the attention of accountants(39:41) Understanding the target market(45:15) Focusing on deep work(50:37) The difference between influence and impactLinksMAXIOUpcoming Events