Nectr is an energy retailer that achieved 20,000 customers and annualised revenue of $20 million within just two years.
Nectr is run by Managing Director Andrew Butler, a former electrical linesman born in regional Victoria.
In this Australian Business Podcast episode, Andrew Butler and Owen Rask talk about the challenges and opportunities of running a renewable energy start-up, developing a team culture that focuses on customers, remote work, being bought out by an overseas company, and more.
A bit about Nectr
- Launched in Feb 2020, at the outset of the COVID 19 pandemic.
- The company buys renewable electricity and has big plans to create a way for Aussie households to share their renewable energy (e.g. you could buy your neighbour’s excess solar panel energy)
- Acquired 10,000 customers within first 10 months of launch and 20,000 customers within 2 years (with annualised revenues exceeding $20 Million)
- Nectr now offers Home Solar, Battery, Retail & Finance bundles, and an integrated Mobile App.
Talking points
- Does Andrew’s hobby of sailing help him lead better?
- How energy is made, bought, sold and distributed in Australia?
- The most successful marketing messages so far – how did Nectr get to 10,000 customers so quickly?
- We know culture and branding are key to tech start-ups and sexy Silicon Valley businesses, but how important are culture and brand in an electricity business?
- Work-life balance is the top focus when recruiting at Nectr. How do you maintain an effectively distributed and in-person team, especially when management is across timezones and languages?
- Hiring: do you hire for passion or pedigree? What are the core attributes you look for in leaders or managers?
- Having started multiple businesses, what’s one thing you wish you knew about business 5 years ago?
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