Mostly metrics
Run the Numbers
E2: Webflow's VP Finance Ivan Makarov on Understanding Startup Equity

E2: Webflow's VP Finance Ivan Makarov on Understanding Startup Equity

Webflow’s VP of Finance, Ivan Makarov, joins host CJ Gustafson on the second episode of Run The Numbers, where they go straight into the unfiltered. If you’re looking for an ERP platform, check out our sponsor, NetSuite: 



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The HR industry is at a crossroads. What will it take to construct the next generation of incredible businesses – and where can people leaders have the most business impact? Hosts Nolan Church and Kelli Dragovich have been through it all, the highs and the lows – IPOs, layoffs, executive turnover, board meetings, culture changes, and more. With a lineup of industry vets and experts, Nolan and Kelli break down the nitty-gritty details, trade offs, and dynamics of constructing high performing companies. Through unfiltered conversations that can only happen between seasoned practitioners, Kelli and Nolan dive deep into the kind of leadership-level strategy that often happens behind closed doors. Check out the first episode with the architect of Netflix’s culture deck Patty McCord.



@cjgustafson222 (CJ)

@TurpentineMedia (Turpentine)



(00:00) Episode Preview

(00:34) CJ's opening monologue: on startup equity

(05:03) Start of CJ and Ivan's interview

(06:00) How Ivan been able to evolve his role over time at Webflow

(09:17) What kept Ivan up at night in the early days of Webflow?

(11:01) On recruiting 

(13:23) The inflection point for Webflow

(14:20) Setting culture at Webflow as a finance leader

(15:45) Sponsor: Netsuite

(17:00) On taking risks in your career

(19:30) The most misunderstood elements of startup equity

(23:01) How Ivan thinks about addressing equity questions from Webflow employees

(25:22) How to think about equity

(26:13) Ivan's philosophy on taking advantage of secondary opportunities

(28:25) Ivan's take on Ramp's down round and if companies should allow employees to sell

(30:13) How much should founders take off the table?

(31:50) The first metric Ivan looks at in the morning

(33:22) The top 3 metrics Ivan steers his exec team to look at

(34:29) The last thing Ivan's asked his team to run the numbers on

(37:52) ​​Ivan's approach to work-life balance

(40:46) Long-ass lightning round: an example of when Ivan screwed up on the job, Webflow’s finance software stack, the craziest thing someone has tried to expense

Mostly metrics
Run the Numbers
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.