The EIS Navigator 32 - Building a second multi-million pound exit and lessons learnt with Scott Weavers-Wright
Scott Weavers-Wright is a serial entrepreneur. When we had him on last year (episode 12), we only managed to discuss one of his first exit so we had to get him back for more.
We pick up his story from where we left off, with Scott getting into investing with his business partner Fred. He explains how this led to him funding the creation, then running Elevaate, a platform that allows online stores and brands to manage and monetise product placement.
We discuss the challenges that this brought, many of which were different from his previous business. We discuss the challenge of managing the company prudently when there is money in the bank. We also talk about keeping staff motivated when sales and business is slow to appear and why the company took venture capital funding. Scott also talks about how he raised the company's profile and how this helped generate interest for an exit.
Finally, we chat about the lessons Scott has learned, include the need for patience and belief, and how he applies these to his investing.
Websites - https://haatch.com/