SaaSy Talk Unfiltered | SaaSy Talk S01.13: Balancing Founder's Passion and CEO's Strategy

SaaSy Talk S01.13: Balancing Founder's Passion and CEO's Strategy

October 18, 2023 / 40:15/S1:E13

About The Guest(s): David is one of the early pioneers of the digital industry in the mid 90’s Dave has worked within consulting, publishing and digital pure plays for nearly 30 years. Working as an Executive, NED and Chairman with some of the world's most successful digital disruptors. From building Australia's first online bank (Commbank) in 1997, launching eBay Australia in 1999, managing Microsoft Australia's digital presence (1999-2005), building Australia.com in 42 countries and 15 languages for Tourism Australia, through to building challenger brands such as CarAdvice (bought by ASX:NEC in 2014), iProspect, Adrenaline (sold to Red Balloon in 2018) and presently CEO of Fergus (global SaaS platform for Tradespeople powering over $4bn in trade jobs). Dave often advises private equity and venture capital firms on their investments and sits on several boards as a non-executive director.

About Fergus: Headquartered in Auckland, New Zealand, Fergus was founded by veteran plumber Dan Pollard, in 2014. Fergus set out to solve the problems that had plagued his business for years. Since that time, Fergus has revolutionised the way trade businesses operate in New Zealand and Australia and has become recognised as a global leader in trades software.

Currently serving tens of thousands of tradespeople in eight countries, Fergus’ mission is to provide all trade businesses with access to software tools to organise their business without burying them in the admin.

In June 2022 Fergus announced it has raised $15M in Series B growth funding via Octopus Ventures in the UK and continues to invest for the benefit of its customers.

Key Takeaways:

Luck played a significant role in David's career, from receiving old computer gear as a teenager to being in the right place at the right time with the internet boom.
Hiring good people is crucial in a services business, as they directly impact customer satisfaction and success.
Founders should embrace their unique strengths and let go of certain responsibilities as the company grows, focusing on their passion and the problems they want to solve.
The role of a CEO is like being a head coach and team owner, balancing the needs of the team and the expectations of the board.
Diversity of thought is essential for innovation and growth, and companies should strive for a culture that values and embraces different perspectives.

Quotes:

"You have to blame my dad a little bit. I wanted to be a musician… he forced me to do a university degree in economics and business." - David
"Founder juice is something you can't emulate… all founders are insane." - David
"Founder-led product is the hardest thing… it's about being founder-influenced, not founder-led." - David
"Diversity of thought is the most important thing… it's not just about the obvious diversity factors." - David

Chapters:

(03:51) Challenges of being a CEO after the founder

(07:43) Founder's role and value in a company

(13:23) CEO Transition blueprint and challenges

(15:33) Biggest mistake made as a CEO

(17:33) Overthinking and risk aversion in business

(18:43) Successful cultural and diversity initiatives

(00:25) Metrics used to measure the health of the business

(00:27) The overcrowding of the FSM market and potential roll-ups

(00:33) Importance of customer feedback for innovation

(38:15) Quick Fire-Round

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