SaaStr 357: Busting the Myths About Startup Success with Therese Tucker, CEO and Founder of BlackLine
The Official SaaStr Podcast: SaaS | Founders | Investors
Therese Tucker breaks through the dogma behind what it takes to build a successful tech company. With stories based on the founding of BlackLine — to the company’s successful IPO – you’ll learn the most common myths behind success and why they may be holding you back. This episode is an excerpt from Therese’s session at SaaStr Annual 2018. Full video: https://youtu.be/fKptGJZcfFk Podcast transcript: https://www.saastr.com/saastr-podcast-357-with-blackline-ceo-founder-therese-tucker-busting-the-myths-about-startup-success/
Today we’re here with the one and only Therese Tucker — she’s the CEO and founder of BlackLine, the enterprise SaaS company that helps businesses, like Coca Cola, EBay, Nasdaq and more, automate accounting. Blackline was a leader in the first wave of the cloud movement, founded in 2001, and went public in 2016. Key takeaways from this episode include: The problems money can’t solve when creating a new market: “The reality is that creating a new market is a fairly slow process, no matter how much money you take and throw at it,” Therese said. “Getting people aware, doing the education piece, getting through sort of a process and seeing that develop does not happen overnight. I still get frustrated because we have over 3,000 customers and I’m like, ‘Why don’t we have 30,000?’ And so much of that is because of our market, and because our buyer is risk-averse and moves slowly.” Advice for solo founders wondering if they should seek co-founders: “Someone once told me that it’s very hard to get things done by committee. But at the end of the day, the buck stops with one person, not a committee. Even among the companies that have co-founders there is still the lead who makes the hard decisions,” Therese said. “Unfortunately, I’ve also seen companies where some of the co-founders are not true co-founders. The moment it gets difficult, they become employees. Honestly, I think having a co-founder adds complexity; the minute you disagree, you’ve got a very difficult situation. And the minute you run out of money, you’ll see very quickly who’s actually willing to go without their salary to make it successful and who’s in it because they’re sort of riding along.” Characteristics to look for in employee number one: “You need to find the kind of people that don’t fit well in a corporate structure. And frankly, sometimes that’s because they’re just too bright. They don’t have a tolerance for bureaucracy, for BS, and they want freedom to get things done. And those are the type of people that you look for in a startup,” Therese said. “And you know what? Those people are really fun to work with. The other thing that you can do in the early days is you can offer people flexibility. One of my early programmers was a musician, and he toured three months out of the year. He’s an excellent programmer. I was able to hire him for a fraction of what I would have paid somebody who got three weeks’ vacation. Because he had a life, he had a full-time steady job when he wasn’t touring. And then he got to tour with his band for three months out of the year. Flexibility. It was beautiful. We just worked with it.” How founders should lead differently in 2020 and beyond: “I think that we are all learning, that no matter where we are at, we still have some pretty deeply ingrained beliefs that are probably wrong,” Therese said. “The built-in advantage of diversity is that people from diverse backgrounds do think differently. And so you get the advantage of just a lot of different types of thinking about problems and a lot of different ways to approach problem-solving. You end up with a stronger company and a stronger product set because of that inherent diversity.”
#240 Psychological Judgement of our Bodies, The Body Intuitive Connection and Ways We Can Tune into our Intuition with guest Therese Tucker
The No Sugarcoating Podcast
Self-care podcast with my guest Therese Tucker Psychological Judgement of our Bodies, The Body Intuitive Connection and Ways We Can Tune into our Intuition. TOPICS:: Psychological Judgement of our Bodies (20:15). The Body Intuitive Connection (45:40). ** Ways We Can Tune into our Intuition (1:11:43). NOTES:: Show notes: amberapproved.ca/podcast/240 Leave me a review at amberapproved.ca/review Email me at email@example.com SHOW LINKS:: Email me at firstname.lastname@example.org with the subject line “Coaching Sale” to save on 6 month and 1 year coaching programs. Also now offering a 90 day and half day program to support you during this time. You can also click the link to book your 30 minute Complimentary Body Freedom call. https://amberapproved.ca/schedule-a-consultation/ Take my free Emotional Eating Quiz here: http://amberapproved.ca/emotional-eating-quiz Check out my Youtube Channel Here for more transformational videos: https://bit.ly/2VMJeJb Listen to Episode 179 about what it’s like to work with me here: http://amberapproved.ca/podcast/179/ Follow me on Instagram www.instagram.com/amberromaniuk Join the new Private Facebook Group https://www.facebook.com/groups/WomenChoosingBodyFreedom/ About My Guest Therese Tucker: Therese is a Psychic Medium, Intuitive Artist, Author of “Confidence Is Magic”, and founder of Modern Mystic Society. She is the creator of Blythe Starlight, a brand dedicated to creating fine art and metaphysical accessories with a spiritual connection. For over 13 years Therese has been channeling her self-expression into “Tools of Destiny,” she has been able to provide others with the physical + metaphysical tools to discover their own path to self-trust and fulfillment. Therese is here to create an impact on the world through helping people make sense of what’s inside of them. She serves as a North Star, providing her audience with clarity and focus on their spiritual journey and the tools to make it happen. MY PARTNERS: Prairie Naturals The No Sugarcoating podcast is proud to partner with Prairie Naturals. Have you heard about elderberries? Elderberries contain a wide variety of flavonoids, anthocyanins, caffeic acid and chlorogenic acid. Elderberry extract is a powerful immune booster and is also anti-viral. Elderberry is a known immune modulator which means it stimulates an underactive immune system and can increase the Nrf2 pathway which may help prevent a cytokine storm. Prairie Naturals has included elderberries in three Immune Health formulas: 1. FLU-Force - relieves sore throats and upper respiratory tract infections. 2. Cold & Cough Syrup - reduces symptoms of fever, sore throat and coughs. 3. Citrus Soother - a soothing drink mix that reduces the duration of respiratory tract infections. For more information on immune boosters and immune health visit www.prairienaturals.ca Herbaland Gummies The No Sugarcoating Podcast is proud to partner with Herbaland Gummies! Herbaland is Canada’s largest nutritional gummy manufacturer producing vegan, gluten free and sugar free vitamins. Their new line of beauty gummy vitamins have changed the game when it comes to keeping up that glow. The newest member of the beauty family Acai Berry Twist, helps increase antioxidant levels and up your detoxification game! It also promotes digestion and supports your immune system. Don’t forget about their Vegan Collagen Booster and Pure Beauty Gummies either. Use code Amber30 and save 30% off one entire order today at www.Herbaland.com. Newco Natural Technologies The No Sugarcoating Podcast is proud to partner with Newco Natural Technology. Numerous factors can lead to chronic inflammation including environmental toxins, emotional stress, and diet choices such as eating sweets or fast foods. These factors lead to the activation of nuclear factor kappa-B (NF-κB), the most prominent signaling pathway controlling inflammation. It is estimated that 1/3 of the US population lives with chronic inflammation. Sulforaphane combats inflammation by blocking how NF-κB is turned on. It also turns on Nrf2, one of the most significant regulators of the body’s internal antioxidant system. With our body’s experiencing stressful stimuli from processed foods and environmental toxins every day, it must be equipped with a system to adapt to and overcome these stressors. Taking high-quality supplements, like BroccoGen 10®, suppresses NF-κB and chronic inflammation, while also supporting the enhancement of the body’s internal antioxidant system. Use code AMBER to receive 15% off your order and shop at https://www.newconatural.ca/products/brocco-bundle.
Bonus episode 11 - “Therese Tucker, bootstrapped to a billion!”
Your First Million
In this bonus episode we travel back to late 2017 when I interviewed “unicorn” founder (meaning her company is worth more than a billion dollars) Therese Tucker. This pink haired, soft-spoken powerhouse has mostly flown under the radar but has a strong message for listeners: you can it, too. Credits Music by Jeff Kaale (1, 2, 3, 4) --- Send in a voice message: https://anchor.fm/yfm/message
From Bootstrapped to $1.15B IPO - Therese Tucker of BlackLine
The Bootstrapped VC - A Backstage Capital Podcast
Arlan interviews an amazing founder who took her enterprise SaaS business from bootstrapped to a $1.15B IPO, and personal financial freedom. Therese Tucker is the remarkable CEO of BlackLine, an 800-person company that offers a continuous accounting platform to customers around the world including Coca-Cola, Phillips, and eBay. She's also the mother of 2 and sports some wicked pink hair. A former top-level CTO, she risked everything to keep her company alive, and lived to tell the tale you'll hear in this episode.Full show notes: http://backstagecapital.com/podcast/therese-tucker/Credits:Host + Executive Producer: Arlan HamiltonProducer + Editor: Bryan LandersTheme by: JanineAdditional Music by: Ryan Little
Therese Tucker, Founder and CEO of BlackLine, is a very successful female entrepreneur who followed our core philosophy of bootstrap first, raise money later. When I first met her in 2009, her company was in the $10 million revenue range. Subsequently, it has continued to grow at 50% CAGR year over year, and Therese raised private equity funding in 2013 to take liquidity for herself and her team. With annual recurring revenue in the $65 million range, and continued growth at 50%, $100 million revenue is not far in the horizon. And with that, the company’s valuation will easily touch unicorn levels.