Podcast: Always Be Prepared for an Exit with San Eng

Listen in on the Podcast here: The Exit

San Eng, Managing Partner at Skytian Capital, is a seasoned entrepreneur, real estate investor, and blockchain enthusiast. He has successfully built and exited businesses, and in this episode of The Exit podcast presented by Flippa, San talks about his journey and shares valuable insights on team building, timing, and being prepared for an exit.

San Eng’s entrepreneurial journey started at a young age when he came to the US from China at the age of 9 with his family. He had to work from a young age to help his family pay off their debts, and it taught him the ways of business and making a living as a way of survival. Even in high school, he started businesses, but his first significant business venture was at the age of 27 when he co-founded oCen communications, Asia’s leading internet/telephone service.

Multiple Ways To Make An Exit

San Eng believes that there are multiple exit opportunities for non-venture backed startups, and it depends on the industry. In the real estate business, for example, there are various exit opportunities from refi to asset sale. Regardless of the industry, San emphasizes the importance of always being prepared for an exit. He suggests that daily organization is necessary so that when someone comes to buy, you can be ready to go.

By the time oCen communications made its exit, they had reached the ideal employee number of 150. This number is small enough that you still know everyone’s name, but just large enough to implement systems. San had his board help him find a new CEO to put those systems in place. San says that getting to that number was one of the hardest parts because there was so much money in chasing talent. He says they would give two job offers, sometimes three, to entice people.

Conclusion

San Eng’s journey is a testament to the fact that hard work, dedication, and being prepared for an exit can lead to success. Whether you are in a venture-backed startup or a non-venture backed one, multiple exit opportunities exist, and it is essential to be organized and prepared for when the time comes. To hear more from San Eng and other expert entrepreneurs who have bought and sold businesses, tune in to The Exit podcast presented by Flippa.