Mike Whitmire is the co-founder and CEO of FloQast. He is discussing the company's team size and new office in Sherman Oaks.
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“And we have about 95 employees today just moving into our new headquarters in LA.”
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More from Mike Whitmire
Insight
SaaS companies with sub-$1 payback periods should spend more, Whitmire advises
“And the target for that is if you're below a dollar, you are a hyper efficient sales organization and you should be spending a lot more money on, on sales and marketing.”
Mike WhitmireOct 4, 2018▶ 17:281167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
AssertionNot checkable as stated
FloQast clients reduce month-end close time by 30%, says Mike Whitmire
“And ultimately what happens is by helping with all three of these pain points, our clients are able to cut time off their clothes. They cut about 30% off their clothes time.”
Mike WhitmireOct 4, 2018▶ 4:241167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
Insight
Top-down enterprise sales inevitably fail without end-user buy-in, Whitmire argues
“So that was a really early lesson for us to actually not sell to a company where we don't have buy-in from the controller or who people who are ultimately going to be the users. So we've, there have been a couple of times where we have not moved forward with a…”
Mike WhitmireOct 4, 2018▶ 16:031167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
AssertionNot checkable as stated
FloQast averages negative 12 percent net revenue churn, says Mike Whitmire
“-12, I believe is our average.”
Mike WhitmireOct 4, 2018▶ 17:001167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
Insight
Billing SaaS customers annually upfront is life-changing, says Mike Whitmire
“Bill, it just, if anyone could take anything away from this interview, it's bill annually up front. It's a life-changing move for a business.”
Mike WhitmireOct 4, 2018▶ 18:221167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
Disclosure
FloQast averages $15K to $20K annual contract value, says Mike Whitmire
“So we think about things annually and our average customer has 10 to 15 accountants is roughly the size of the department. And so that's going to work out to 15 to 20,000 dollar contracts with prices inching up every quarter as we grow out our solution.”
Mike WhitmireOct 4, 2018▶ 4:411167 How FloQast Grew 300% YoY to $8m ARR Selling to Accounting Teams
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