022: How Finance Advances Enterprise Collaboration, Evan Fein, CFO, Impinj

What is it like to be CFO of a high-growth firm? Join us as Evan explains how RFID pioneer Impinj entered a new period of rapid growth after the market for RFID technologies at last found its mojo, allowing Impinj to gain new traction inside RFID’s rapid adoption cycle.

Listen to the Episode Below (0:23:10)

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Key Metrics

“We look at the adoption of RFID across different sectors. … We look at the volume of chips that go into RFID tags, and we look at the volume of chips that we ship on a quarterly basis … to see if RFID is being adopted more widely. We are a market leader … so, generally, if our volumes are up, it’s unlikely that we stole share because we are in a dominant market share position. It’s more likely that the market is growing. We refer to this metric as ‘TAM’: total addressable market. The second most important metric is the gross margin percentage. Because we are a hardware company that is shifting to become more of a solutions company, gross margin is very leveraged. We’ve worked very hard to increase our gross margin percentage by 9 points over last year.”

Mentoring Round

“I’ve had a lot of great mentors, and mentoring is just such an important part of personal career development — to embrace mentors and seek them out and try different mentors. … I value personal connections. … I try to visit people at their desk or in their workspace or office instead of emailing or calling them. I really believe in face-to-face communication. The more human relationships we have, the better we’re able to build successful business relationships.”

On the Growing Demand for Collaboration Tools

Business Book Pick

The Five Dysfunctions of a Team: A Leadership Fable Patrick Lencioni

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