SaaSy Talk Unfiltered | SaaSy Talk S02.14: Building and Scaling: Adam Clark’s Blueprint for Startup Success

SaaSy Talk S02.14: Building and Scaling: Adam Clark’s Blueprint for Startup Success

June 23, 2024 / 46:12/S2:E14

About The Guest(s): Adam Clark, one of NZ's leading tech entrepreneurs. He was co-founder and CEO of Groov, and of mobile banking software provider M-Com, which was acquired by Fiserv in 2011 and now serves over 3,000 banks globally. Since returning to New Zealand in 2012, Adam has played a key role in the establishment and growth of many of the country's most promising software companies, including two further exits via acquisition. He has also been deeply involved as an investor and board member in companies such as Tradify, Parrot Analytics, and UneeQ. Episode Summary: In this episode, Adam Clark shares his blueprint for startup success, drawing from his experience founding M-com and successfully exiting the company through acquisition by Fiserv. The conversation delves into the early days of M-com, navigating the dot-com bubble, expanding to the US market, and the challenges and triumphs of building a successful business. Adam emphasizes the importance of deliberate planning, the value of frugality, and the necessity of building high-quality products to succeed in the competitive startup landscape.

Key Takeaways:

Building a startup requires a high level of deliberateness, with a focus on planning and execution.
Frugality and efficiency are key factors in the success of a startup, especially in a market with limited resources.
Partnerships can be accelerants for growth but require careful consideration and deep investment to be successful.
Learning from failures and adapting quickly is crucial for startup founders to thrive in a rapidly evolving environment.
Founders should prioritize building a strong founding team with high intellect, energy, and a shared passion for solving problems.

Notable Quotes:

"You can't outsource the hard work. The hard work's going to be there." - Adam
"The people are everything. Look for a founding team that is super focused, really smart, and high-energy." - Adam

Chapters

00:18 Founding mcom: The Early Days

01:08 Navigating the Dot-Com Bubble

02:30 Expanding to the US Market

04:16 The Fiserv Acquisition Journey

05:02 Challenges and Successes in the US

14:11 Bootstrapping and Fundraising Insights

19:50 The Evolution of the New Zealand Startup Ecosystem

26:18 Challenges for New Zealand Startups

26:39 Value of Experienced Board Members

28:16 The Realities of Partnerships

32:40 Investing in Startups: Lessons Learned