Kickoff Sessions #147 Ned Phillips – Life Lessons From Selling Over $50M
In this episode of Kickoff Sessions, I had the pleasure of interviewing Ned Phillips once again, founder and CEO of Bambu, a fintech startup that provides digital wealth management solutions. Ned has over 30 years of experience in the financial industry, and he shared with us his insights and experiences as an entrepreneur and investor.
During our conversation, Ned talked about his journey from being one of the first online brokers to founding Bambu in 2016. He discussed the challenges of building a successful startup and emphasised the importance of creating valuable content, building authority and trust with customers, and selling outcomes, not output.
Ned also shared his thoughts on the “perfect founder story” and “entrepreneur porn” that dominate the startup world, and how aspiring entrepreneurs can overcome these challenges. He believes in hard work, persistence, and the ability to learn from failure.
Outside of work, Ned is an ultra-marathon and ironman athlete who enjoys learning how to think about nothing. He also talked about his experiences working with high-profile investors and entrepreneurs like Jack Ma and Kevin O’Leary, and his TED Talk on the Power of Now.
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(00:00) Ned Phillips turning 80 years old
(02:55) Having a relentless attitude
(05:20) Ned starting Bambu, sales & marketing
(09:35) The problem with the perfect founder story
(12:12) Entrepreneur porn and no substance
(14:50) Ned working with Jack Ma & Kevin O' Leary
(22:25) Creating digital leverage and getting ahead
(23:30) The gap between who you are & who you want to be
(26:45) First they laugh, then they ask for advice
(29:58) Expectation vs. reality when building online
(35:50) How to thread your story in your content
(37:50) How to build authority and trust online
(39:00) Selling outcomes, not output
(43:45) Ned's biggest mistake & challenges
(47:35) It's never been easier to win
(53:40) Ned's Ted Talk on the Power of Now
(58:50) Learning how to think about nothing
(01:01:50) Focusing on your next 5 actions
(01:05:30) The opportunity cost of your goals
(01:07:15) Cycling race in sand in Mongolia
(01:13:40) Ned's future plans for running
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