SaaSy Talk S02.12: Nick’s Startup Playbook

Description

About The Guest(s): Nick Houldsworth is Co-founder of Prosaic, which uses open banking and generative AI to automatically find tax deductions for sole traders and small business owners from personal bank, card and loan accounts, to share with their accountant or post to Xero or HNRY. He is also a beachheads advisor with NZTE. Previously he was Exec GM of Product at Xero, leading the developer API and app store, and before that CMO of retail software startup Vend. In the early 2000s he briefly played mandolin in Scotland's second most popular country band.

Episode Summary: Join us in this episode as we sit down with Nick Houldsworth, he shares valuable insights into his tech journey, from his unconventional entry into the industry to his experiences at Vend and Xero. He discusses the importance of being scrappy in the early stages of a startup, highlighting the necessity of understanding customer needs and staying adaptable. Nick elaborates on the lessons learned at Vend that remain relevant as he navigates the challenges of scaling his new startup, Prosaic. Through a thoughtful reflection on his past experiences, Nick provides strategic advice on prioritisation, hiring, and cultivating a vibrant company culture.

Key Takeaways:

Embrace the hustle in the early stages of a startup and be prepared to do whatever it takes to move the business forward.
Focus on understanding customer needs and solving common problems to drive the growth of your startup.
Prioritise hiring based on the vision of where the company will be in the future, aligning talent with the evolving needs of the organisation.
Setting clear expectations with hires and fostering a culture that values action and problem-solving can shape the company's identity and trajectory.
Stay intentional about the company's culture by hiring diverse talent that embodies shared values while bringing fresh perspectives to the table.

Notable Quotes:

We've got something to hook on to - let's see how we can optimise that and grow that part of it while we start to think about what's next." - Nick
"Let's be intentional about the next hires, focusing on roles that align with our future growth and set clear expectations with new team members." - Nick

Chapters

01:01 Introduction and Greetings

01:11 Nick's Journey into Tech

01:43 From Music to IT

02:15 Early Career in Tech

03:41 Joining Vend and Xero

05:51 Lessons from Vend

08:39 Starting Prosaic

11:32 Early Stage Strategies

21:59 Prioritization and Hiring

27:37 Forecasting the Future of SaaS

28:20 The Importance of Culture in Scaling