Enterprenuer
Andrew Butt is the co-founder and CEO of Enable. This cloud-based, modern B2B software solution allows for rebate management.
Over 50 industry distributors, wholesalers, and manufacturers have an easy and seamless way to track and execute their trading programs.
Menlo Ventures, Sierra Ventures, and Menlo Ventures have invested $16M to back the company.
In 2017, Andrew and his co-founder launched the company.
They met 20 years ago when they were learning to fly helicopters.
Their first business, DCS E-Commerce, was founded in March 2000.
A software engineering company made a profit and employed 100 people.
According to the Sunday Times, the company was the 50th fastest-growing private technology company in Britain.
They co-founded Information Matrix Ltd four years later.
This B2B SaaS company was then acquired by Sovereign Capital, a London-based private equity firm.
From where did the idea of Enable originate?
My co-founder Denys Shortt OBE was the one I met when I was 16 years old while learning to fly helicopters.
His company, which was focused on household products, was the UK’s fastest-growing.
They were both very grateful for the trading partners’ incentives, rebates, and trading agreements.
However, there wasn’t a system that could manage them well on the market, so they decided to create Enable.
How do you make your day more productive?
My workday begins at 5 a.m. My team is in San Francisco, and I am in San Francisco.
After that, I go for my morning exercise: I run Embarcadero with my dog (the four-year-old rather than the twelve-year-old).
I have to catch up with them 8 hours ahead.
It is essential to organize your day according to how you work best.
I am a morning person, so I work on complicated problems and projects.
When I can, I schedule meetings later in my day.
This can have a significant impact on productivity.
How can you bring your ideas to life?
My team and I start the process by discussing my ideas.
Because they are as knowledgeable about the product as I am, it is a pleasure to hear their opinions.
We then try to visualize the concept and bring it to life using mind maps, PowerPoint presentations, and sketches.
This allows us to improve the product and make our customers happier.
Which trend is your favorite?
Online meetings are becoming more common across all sectors and every age group.
Online meetings are a great way to establish trust and relationships.
However, there is no substitute for face-to-face meetings.
This pandemic has forever changed the perception of this topic.
I believe it is for everyone’s benefit.
Modern technology allows meetings to be recorded and transcribed into searchable text narratives.
These can then be integrated into electronic records, making them more useful, productive, and actionable.
This allows people from different time zones and locations to join meetings quickly, resulting in a more collaborative work environment.
Which habit makes you more productive as an entrepreneur than another?
Get up early. Get up early and quickly clear your desk of any urgent tasks.
Then, get to work on a challenging project for a few hours, and you’ll be able to cross it off your list.
Take a 20-minute nap if you feel tired later in the afternoon.
You’ll feel like you have two mornings if you are a morning person.
What advice would your younger self give you?
Focus more, be more demanding, and be less patient.
All the clichés we hear, like “don’t boil an ocean,” are true.
However, I have learned that you can create something of consequence if you identify your niche and continue digging deeper until you find something completely different.
You can achieve great things, but you must work faster and with more intensity than others to make an impact.
We need to hear something you believe is accurate and that nearly everyone agrees with.
It is absurd to think that a “work-life balance” can be achieved.
It is impossible to balance work and life. It is essential to work.
Whether building a business, helping charities, or raising children, meaningful work is critical to a fulfilled life.
Steve Jobs stated that “great work is the only way to be satisfied truly.”
What is one thing that you recommend to everyone as a successful entrepreneur?
Get active every day. Move your blood around and get oxygen to your lungs.
It gives you a fresh perspective and makes you feel great.
Which strategy has been most successful in growing your business?
Double down on your mission if you want to create something great.
Get rid of all legacy and baggage. Although this may be similar to my point about ‘focus,’ I believe it is more important than having a plan B’ if you want something of consequence.
This is Captain Hernan Cortes’ 1519 concept of “burning boats.”
Our profitable services business steadily grew, so we closed it down to focus entirely on our SaaS company.
We see the most incredible opportunities there. This has harmed our profits.
Because we have no other services businesses to fall back on, the SaaS business will be a huge success.
How did you overcome that failure as an entrepreneur?
I don’t want to be too spread across many business opportunities.
My idea of success was to have a diverse portfolio of businesses.
This may be true when those businesses are mature.
As a startup, it is essential to be focused.
I owned three businesses simultaneously, and none of them was growing fast enough.
It was a problem that I solved by closing one and exiting another.
The one left is flying right now!
Which business idea would you be willing to share with our readers?
Referring to customers is one of the best ways to get leads for your company.
Programs will allow you to identify the referrer (company’s advocate) and onboard new clients who are more likely to be open to your offer.
Referral business is less expensive to open and close, and your new customers will be happier and more satisfied with your product.
Which was the most expensive $100 you spent recently? Which and why?
Thank you for the gifts for team members. It is impossible to express gratitude enough to people.
People are the heart of any company.
Nothing makes me happier than watching them do well, be rewarded, and see how grateful they are.
Which piece of software or web service can you use to help you be more productive?
I am very traditional. I use Safari for web browsing, Outlook to check email and calendar, Office to access documents, and Zoom for conference calls.
This is it. TextEdit is what I use to edit my to-do lists.
Which book would you recommend to our community? Why?
Paul Melchiorre, ” Selling the Cloud.” This is a modern and essential guide to creating a successful SaaS business.
Paul has built many multi-billion-dollar companies over the last twenty years.
Yet, he is humbler than you could imagine.
I promise his advice is practical, actionable, and will yield significant results.
Which quote is your favorite?
“Success means going from failure to success with no loss in enthusiasm.”
Winston Churchill
What could the Key Learnings “Andrew Butt” offer to Enterprenuer readers?
Recognizing the success of your team can make a big difference.
The key to success is the focus.
You can make mistakes and fail, but that’s what you can learn.
The best business ideas are those that have a niche.
Your productivity can be affected by how you structure your workday.
