Therese Tucker, founder and co-CEO of BlackLine, was named a 2023 Top Female Leader in SaaS and a Top 50 SaaS CEO. Below is an interview we conducted with her about her journey building BlackLine. We discuss some of the challenges she faced along the way, her vision for the company's future, and her advice for aspiring entrepreneurs.
This will be a two-part series, followed by an interview with Owen Ryan, co-CEO of BlackLine.
BlackLine was recognized as a 2023 Top 100 Software Company by The Software Report.
You've been building BlackLine for over 20 years, what is your favorite moment when you look back on your journey so far?
“There are so many to choose from.
I'm so proud of what we've built at BlackLine and the amazing customers we work with around the world to help transform their finance and accounting operations. Getting our first big customer was instantaneous. And whenever an end user has an “aha” moment, it's the moment they realize that BlackLine really makes their lives easier. Currently, he has over 4,400 customers worldwide, which is amazing when you consider that he has customers in 66% of the Fortune 50, including 9 of the top 10 companies.
It took years of hard work to cross the finish line, but it was also great to have our software on SAP's sales sheet.
But it's also the little things, like watching our team members grow over the years. We are very proud that many of our early team members are still with BlackLine.
When we went public, there was a really cool moment where all of our employees and executives wore pink wigs. I felt very honored. ”
What was your most difficult moment?
“Yes, there were certainly challenges, such as the global financial crisis and the pandemic, but there is no doubt that all business leaders who were going through their own situations at the time felt anxious.
Even looking back at our early days, we faced many challenging moments as a startup. We were doing something no one had done before and bringing something completely new to the market. This definitely came with its own challenges. I remember worrying at times whether we would be able to cover payroll. I found that big companies take a very long time to make payments. And their payments did not always line up with the payroll needs of my employees.
It's also hard to learn that people don't always have the same values. Small companies have a family-like culture. You learn the value of HR and legal affairs when someone betrays it.
At BlackLine, we are very fortunate to have the support of an incredible global team as well as supportive investors and partners. Their unwavering unity was crucial throughout our journey. ”
What is the future vision for BlackLine?
“We have always been an innovator in the CFO office and will continue that tradition by embedding AI across our platform and bringing new AI-based products to market that are game-changing for our customers. Automate manual tasks that no one likes, while continuing to deliver data and numerical integrity across all solution pillars.
Owen and I have been in our roles as co-CEOs for just over a year now, and our complementary experience and skill sets within this new organization position us well for future growth. Together, we remain committed to providing more innovative solutions and industry-leading customer service as we continue to help finance and accounting professionals make viable changes for business success. I'm here.
We've grown a lot since our days in a small office with a few people, but our focus remains on building great software that solves people's business problems. yeah. At BlackLine, we strive to hire people who bring the same passion to their work. It's important to us to have fun and stay focused on our customers. ”
What have you learned about yourself through your entrepreneurial journey?
“Persistence is the key. Individuals and businesses rarely get it right the first, or even tenth, time. If they give up, they will never succeed. Fundamental to that approach is embracing continuous change. If something isn't working, it's important to pivot, consider alternatives, and make changes quickly. If you're not growing (and changing), your company, and your people. The relationship will disappear.
I also learned the importance of listening to employees for valuable perspectives. And when we listen to our customers, they have the best ideas. At BlackLine, we are focused on providing solutions that solve the pain points our customers face every day. At the heart of our work is listening to our customers' problems, preferences and needs. Ultimately, this generates ideas that have an impact. ”
What's one piece of advice you can give to aspiring software entrepreneurs?
“My first advice is always, 'Don't do it! It's too hard!' And even if someone had taken that advice, they probably wouldn't have been successful anyway. Entrepreneurs in general , I have a foolish confidence that makes me believe that no matter what I face, no matter what anyone says, I can succeed.
Next, find a mentor. Find someone wise who has seen it before and can advise you. Those who have already been on the path can offer a lot of help, wisdom, and even prevent company-killing errors.
Mentors provide valuable wisdom, perspective, and encouragement to help you overcome challenges, seize opportunities, and accelerate your growth. Whether you're seeking advice on product development, fundraising, or leadership, having an experienced mentor by your side will greatly increase your chances of success in the competitive software industry. Therefore, seek out mentors who align with your vision, values, and aspirations and leverage their knowledge to further your entrepreneurial path. ”
