You Never Know with Nicole Lee
#8 — The Hard Truth About Startups & The Magic Of Sales | Ned Phillips: “Closing My Startup Was Super Hard.” “Most People Don’t Know How To Sell!” “You Sell By Not Selling!”

#8 — The Hard Truth About Startups & The Magic Of Sales | Ned Phillips: “Closing My Startup Was Super Hard.” “Most People Don’t Know How To Sell!” “You Sell By Not Selling!”

Author: Nicole Lee
Published: Sun 02 Mar 2025
Episode Link: None

Everyone talks about their wins, but not many talk about their failures. Ned Phillips spent 8 years building Bambu, a prominent robo-advisory fintech firm based in Singapore. Then one day, he had to face the brutal truth – they ran out of money. And it was over.

Shutting it down wasn’t just a business decision. It was an emotional toll, a hit to his identity, and a reckoning with what it really means to give it all up and accept “failure”.

In Episode 8 of You Never Know, Ned and I talk everything under the sun – from the raw truths about being a founder, to the importance of sales, and the power of bouncing back from failure - whether in business, in life, or in a 100km race.

At 57, he’s now taking everything he’s learned about business and sales, and helping startup founders get better at it through his new venture, The Sales Movement.

Entrepreneurship isn’t just about the highlight reels – it's also about the scars, the lessons, and choosing to be kind to others.

00:00 Introduction

02:49 Where Ned Grew Up

06:05 The Unforgettable Journey Of His Startup, Bambu

13:12 The Emotional Toll Of Being A Startup Founder

15:02 What Ned Would Tell Himself If He Could Start Again

17:58 Lessons From A "Failed" Business

21:10 Winning Deforms You, Loss Creates You

25:30 Real Friends Matter

28:19 Most People Don't Know How To Do Sales

30:45 The Art of Relationship Building in Sales

34:26 Listening & Understanding Your Customers Are Key