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Jay Fulcher

๐Ÿ‘ค Speaker
211 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

In general, what we really tried to do was we tried to resize kind of the cost of goods and the expense line for the business.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

You know, you talked about being out of cash in 2017.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

That's clearly not the case at this point.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

We have

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

actually several years of runway to go if we never raised another dime.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

And we have, you know, sort of cash flow break even in our sites.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

And so we've got we've got a lot of nice momentum now where the company's really repivoted itself in a very healthy way to be a sustainable, long term, high growth business.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

Yeah, there's several things, Nathan.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

I think number one, as you say, we did in fact kind of right-size the company.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

And so as hard as that was, because these are employees that quite frankly did nothing wrong.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

They were actually stellar performers.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

They did great things for Zenefits.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

But we basically had to get to a better headcount perspective.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

And part of that was not only in San Francisco, but across the three or four offices we have around the world.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

So that was one piece.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

The second piece was, as I said before,

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

basically no longer being a broker and instead relying on third party brokers to basically build their brokerage and advisory services on top of the Zenefits platform.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

That allowed me to take a lot of the headcount and a lot of the focus and the organizational calories that are expended around insurance brokerage and instead shift that to these partners.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

And it allowed us to retreat and kind of double down on being this tech platform.

SaaS Interviews with CEOs, Startups, Founders
1095 His First Move at Zenefits? 450 Laid Off. Now Eyeing Profitability and $100m in ARR

I think those two things were substantial kind of resizing elements that allowed us basically to kind of be in a very different place from a cash burn perspective as well as making sure that โ€“