E190: Leaping from Agency to SaaS to Revolutionize Cash Flow Forecasting with Colin Hewitt

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Colin Hewitt is the founder and CEO of Float—a cash flow forecasting and scenario planning SAAS application. Prior to founding Float, he founded the digital agency IfLooksCouldKill and ran it for 10 years before selling it.

Float now has over 30 people with offices in Edinburgh and Sydney.

They’ve reached a goal of over one million in recurring revenue annually, and now have a goal of ten million.

Episode highlights:

  • What lessons Colin learned in the early days of running an agency.
  • Where Colin found inspiration to start a new company.
  • Where Colin found inspiration to start a cash-flow management company, specifically.
  • How Colin started a new company knowing that cash wouldn’t come immediately.
  • Why Colin decided to help businesses with their cash flow management problems.
  • On finding the motivation to keep finances updated.
  • Best advice: Your job as a business owner is to do nothing.
  • Habit that contributes to success: The pursuit of becoming better and improving.
  • Recommended tools: Digital Planner – Today 
  • Recommended book: Get A Grip by Gino Wickman and The Advantage by Patrick Lencioni
  • Run time: 36:38


Links:

Quotes:

  • “I was feeling….that something wasn’t quite right.”
  • “The people in Silicon Valley are the gods and we’re just mere mortals.”
  • “I’m just as good as anybody here.”
  • “We were working for nothing.”
  • “It might hurt really bad, there has to be some sacrifice.”
  • “She was always like, ‘Look I trust you’.”
  • “I want to know the future.”
  • “If it’s in your client’s account and not your account, it doesn’t count yet.”
  • “I’ve gotta keep leveling up – I’m an athlete in business.”

Takeaways:

 

  • Be patient when starting a new company, and don’t expect to be an overnight success with cash flowing in.