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This as-told-to essay is predicated on a dialog with CJ Gustafson, founding father of Mostly Metrics and CEO of Largely Media. It has been edited for size and readability.

Once I stroll right into a bakery, I am not debating what sort of deal with I need. As an alternative, I am fascinated with what number of muffins they should promote to maintain the lights on. I’ve all the time been wired that approach. I loved writing too, however obtained into finance as a result of I wanted to make money.

I landed within the startup space, serving to scale tech firms. I used to be the one who budgeted for the remainder of the group, determining how a lot income and what number of hires we wanted to help our working plan. I realized there have been other ways to trace a enterprise’s success past the hole metrics historically used.

There wasn’t a lot info on-line framing different methods of measuring success in accessible phrases. What did exist was about as attention-grabbing as consuming glass. I noticed this within the winter of 2020, whereas I used to be quarantining on Cape Cod. It was chilly and darkish, so I began writing a Substack purely for enjoyable, totally on the sofa late at night time with my canine.

I left my job earlier than monetizing the publication

I knew I used to be onto one thing when names I acknowledged from the finance world started subscribing to my publication. It pains me to confess, however I had a folder in my e-mail referred to as the Huge Baller Folder, and when individuals who had been forward of me on this trade subscribed or commented, I’d save their emails.

My newsletter grew, however it was nonetheless small: about 4,000 subscribers. I hadn’t monetized it. Nonetheless, the corporate I used to be working with gave me an ultimatum: work on the publication or stick with them.

Leaving meant abandoning my fairness, which was price about $1 million on paper. I’d simply had my first little one three months earlier than. And but, my spouse inspired me to depart. She may see that I used to be energized by the Substack and that it had the potential to be actually massive.

I took a CFO function to show my experience

Round then, I used to be supplied a chief financial officer (CFO) function via an introduction from my Substack neighborhood. The timing was a contented coincidence. I used to be solely 31, which could be very younger to be a CFO, and I had a whole lot of imposter syndrome. I had written myself into this room, and I knew I could not mess it up.

It was essential to me to reach that function to point out my credibility within the trade. I helped scale that firm 5x inside two and a half years. Once we sold the company, I made a number of million. What was much more beneficial was that I had confirmed myself as a CFO: I may take an organization from A to B and facilitate a profitable exit.

After the exit, I wager totally on myself

Whereas I used to be within the CFO function, I continued rising Largely Metrics and finally expanded into podcasts. About two and a half years after beginning it, I monetized the content material. I noticed subscriptions weren’t the perfect avenue, so I centered on advertisements as a substitute. My readers (and now listeners) are the decision-makers at their firms, so advertisers are prepared to pay a premium to achieve them.

The final yr I used to be within the CFO function, I made extra from Largely Metrics— about $1.5 million — than I did as a CFO. Once we offered the corporate, I noticed I had a alternative: I may take one other CFO function, the place I’d make about $500,000 in wage, and about 1% of the corporate’s worth if we offered. That is an incredible earnings, however it’s restricted.

Or, I may wager on myself. Success or failure can be all on me, however the potential was uncapped. In February 2025, I made Largely Media my full-time job. It was the correct resolution: final yr the corporate made about $3.6 million.

I am cautious to undertaking my artistic time

That is the perfect job I may have, however it’s nonetheless a job. It isn’t all enjoyable and creativity anymore, so I’ve to create an surroundings that helps me present up as my greatest self. I take runs with my canine to suppose, and do not e book conferences earlier than 1 p.m. because the morning is for analysis and writing. I even constructed a “no machine” in Claude, and use the AI to politely decline invites.

I hope my monetary success will give my three children the prospect to seek out one thing that they are captivated with. You possibly can chase cash, or you’ll be able to wager on your self and work on one thing that evokes and energizes you.