Episode 19

019 Andrew Butt - Grow Fast or Die Slow: Expanding Cloud Solutions for SaaS Companies

Andrew Butt is the Co-Founder and CEO of Enable, a modern cloud based B2B software solution for rebate management. Launched in 2016, Enable is used by companies across over fifty sectors to analyze, negotiate and execute complex trading agreements to drive profitable growth.

Today, Jeff and Andrew discuss the challenges of expanding into international markets, the process of raising funds through private equity and venture capital, and the exciting high-impact journey that Enable is on.

Episode Sponsor

Small Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel’

Champion Leadership Group – https://championleadership.com/

Key Takeaways

01:04 – Jeff introduces today’s guest, Andrew Butt, who joins the show to share his experience as a serial entrepreneur and his passion for flying helicopters

06:49 – Andrew recalls when he first met his co-founder, Dennis, and the multiple businesses they’ve launched together

08:43 – What does Enable do?

11:41 – Andrew’s ‘Aha Moment’ and the value of curiosity

15:09 – Traits Andrew looks for when building an ideal team and key transition points for Enable

20:49 – Biggest challenges from expanding into international markets

23:31 – Fostering and maintaining a great corporate culture

26:48 – Jeff takes a moment to thank one of today’s sponsors, Champion Leadership Group

27:32 – The most crucial lessons Andrew has learned from his experience as a founder

30:14 – The importance of learning to say, ‘No’ and the value of use cases

33:01 – Raising capital versus bootstrapping and alternative methods of fundraising

37:13 – The reasoning behind pursuing the Series B

39:08 – What entrepreneurs should look at when looking at bringing in private equity

40:44 – Mentors who guided Andrew along his journey and what Andrew wishes he had known about launching a company earlier

43:02 – Advice Andrew would give to aspiring SaaS founders and entrepreneurs

45:32 – Jeff thanks Andrew for joining the show and lets listeners know where to learn more about Enable

Tweetable Quotes

“Sometimes we found we were building software applications for software companies. They were building a great product and outsourcing the actual development work to us. So, that kinda gave us the inspiration and the desire to build our own product.” (08:11) (Andrew)

“I wouldn’t say I was a gifted technical founder or anything like that. Quite quickly I realized that my interest - and the thing I wanted to pursue - was the business side, and I could bring in people far better than me on the technical side.” (00:00) (Andrew)

“My view is, in a fast-growing business, we are on an exciting mission. We’re making a big impact in the world. We’re really helping our customers. We’re helping the industries that they’re in. We’re helping the whole supply chain.” (23:45) (Andrew)

“Really, I just had this desire to build something on a much bigger scale, creating something of impact, building something of global consequence that would really impact thousands and thousands of companies. And, it was clear to me that the only way to really do that .” (34:12) (Andrew)

“Someone once told me - and it was a VC - that statistics show that a partnership with a Venture Capitalist (VC) last longer than a marriage. So, that’s why you need to be sure when you go into business with a new investor.” (38:36) (Andrew)