[SaaS Club] Navigating SaaS Enterprise Challenges to $10M ARR

Hey Reader

I hope you're doing well.

Here's a quick round up of what's been going on at SaaS Club:

🎧 Podcast

Trovata: Navigating SaaS Enterprise Challenges to $10M ARR

Brett Turner is the founder and CEO of Trovata, a fintech SaaS company that automates and simplifies cash management for businesses.

In 2016, Brett, already a seasoned entrepreneur with three successful startup exits, launched a new endeavor: Trovata.

But this wasn't just another startup; it was an idea brewing for 20 years.

Launching an enterprise SaaS product can be very challenging.

Brett spent two years in the discovery phase talking to as many potential customers as he could. It was a long time, but he still felt it was worth it.

However, one major obstacle stood in Brett's way...

To deliver a successful product, he needed to integrate with banks. But back then, most didn't have APIs.

So he made a huge bet...

He was going to start building the product and investing in the business with the hope that banks would start providing APIs soon.

If they didn't, he was screwed.

The banks eventually introduced APIs, but Brett had to wait over 2 years!

During that time, pressure was growing as he was burning through cash.

However, thanks to that bet paying off, Trovata has grown into a business that's currently doing around $10M ARR and has raised over $58 million.

In this episode, you'll learn:

• What Brett did during the discovery phase to deeply understand customer problems and why he spent over 2 years doing that.

• How Brett recommends approaching the enterprise space and the right way to build an MVP for enterprise customers.

• How Brett's calculated risk on bank APIs paid off, and what lessons can other founders learn from this?

• Brett's advice for founders who are looking to bring innovation to traditional corporate spaces.

I hope you enjoy it.

Listen to the full podcast episode

📗 Book of the Week

This week's book recommendations are from Brett:

• Good to Great: Why Some Companies Make the Leap and Others Don't by Jim Collins

• Liar’s Poker: Rising Through the Wreckage on Wall Street” by Michael Lewis
  

• Moneyball: The Art of Winning an Unfair Game by Michael Lewis
  

• Flash Boys: A Wall Street Revolt by Michael Lewis

🌐 Around the Web

YouTube Channel

Here's a link to the full video interview.

😍 Let's Get Social

Want to get more social? Follow me on Twitter or LinkedIn.

Have a great week!

- Omer

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P.S. whenever you're ready, here are 3 ways I can help you:

1. SaaS Club Plus: We're re-launching a brand new paid community for SaaS founders with an exciting new offering. Join the waitlist!

2. SaaS Club Launch: A 12-week coaching program to help you launch your SaaS and/or get to $10K MRR faster. 

3. SaaS Club Clarity:  Book a 1-hour consulting session with Omer to get unstuck and gain clarity about your SaaS business.