Know Your Exit Strategy with Neil Wainright

The Exit - Presented By Flippa

Technology

5.0 • 420 Ratings

🗓️ 21 May 2021

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today we’re talking to Neil Wainright, Founder and CEO of Up Habit, a personal CRM app that helps you build stronger relationships. Being on his 8th startup, he’s had many successful exits. Neil went from electrical engineer to successful entrepreneur. He shares what has helped him to start, run, and sell a business. -- The Exit - Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Transcript

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0:00.0	Hello and welcome to the exit presented by Flippa. This is a 30 minute podcast featuring
0:16.4	amazing entrepreneurs who have been there and they have done it. The exit talks to awesome
0:21.2	operators who have bought and sold businesses of all different types. You'll learn how they
0:25.8	did it, why they did it, and get some exposure to the world of exits. It's a world occupied by
0:31.5	a small few but accessible to many. And on this special episode I sit down with Neil Wainwright.
0:38.2	He's currently the CEO and founder of Uphabit and it's a fantastic company that is trying to track
0:45.9	and help people track their relationships. Basically doing everything that LinkedIn does not,
0:51.6	as Neil says, but he walks us through all of these different exits that he's had. He said to
0:57.2	really successful exits over his career, starting various businesses and going through this kind of
1:03.5	exit that happened with a private equity company where they invested a small amount and then
1:08.5	slowly gained ownership over a few different investments over time until they bought the entire
1:15.4	company. So really great lessons learned here all the way through a 17 month acquisition.
1:22.7	So definitely stick around to the end for some of Neil's really fantastic knowledge nuggets and
1:28.3	his tips. But without further ado, let's dive right into this interview here on the exit with Neil
1:33.3	Wainwright. All right guys, I'm here with Neil Wainwright, the founder and CEO of Uphabit. How's it
1:40.0	going to Daniel? It's going great. Thanks, Steve. Yeah, yeah. I'm excited to learn more about your
1:45.5	background leading up to your exit. So before we get into the nitty gritty of the how the exit happened,
1:51.5	let's talk about what how you started, what your background was leading you up to that point.
1:56.9	Wow, I'm old. So I have a lot of history. It started out by always wanting to be an engineer and
2:03.8	I went to school, became an electrical engineer with computing was my focus and then just started
2:09.5	businesses. I started my first one. I was 26. I went to work for Norteil originally before
2:16.8	they were criminals, by the way. And then I started my first business out of Norteil when I was
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