What Does It Really Take to Scale a Startup to $70M in 8 Months? | Phil Neil
In this episode of An Hour of Innovation podcast, Vit Lyoshin speaks with Phil Neil, a serial entrepreneur and investor who scaled his healthcare startup, Neobex, to $70 million in revenue and over $30 million in EBITDA in just eight months, during the peak of the COVID-19 pandemic. Phil shares the dramatic story behind that growth, including how he pivoted the business in the face of collapse, took a personal $450K risk, and navigated internal conflict and supply chain chaos.
Beyond the business tactics, Phil dives into the emotional and mental challenges founders face when scaling under pressure. He introduces two of his signature frameworks: *The Shadow of Entrepreneurship™* and *The Courage Compass™*, which help leaders manage fear, uncertainty, impostor syndrome, and decision fatigue. The conversation explores the intersection of intuition, emotional resilience, and strategic execution, offering powerful lessons for anyone building something from scratch.
Whether you're a founder, product leader, or aspiring entrepreneur, this episode delivers rare insight into what it *really* takes to scale a company and grow as a leader through adversity.
Phil Neil is a serial entrepreneur, investor, and leadership strategist who scaled his healthcare startup, Neobex, to $70M in sales and over $30M in EBITDA within just 8 months. He now helps founders navigate the emotional and strategic challenges of entrepreneurship through his signature frameworks, The Shadow of Entrepreneurship™ and The Courage Compass™. With a background in medtech, venture building, and coaching, Phil brings a rare blend of real-world experience and deep emotional insight. He is also an active voice on LinkedIn, sharing practical tools for resilient and visionary leadership.
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Takeaways
- Phil Neil founded Neobex to help local health centers optimize purchasing.
- COVID-19 forced Neobex to pivot its business model.
- The transition to nitrile gloves was a strategic response to market needs.
- Entrepreneurs often face emotional challenges that impact decision-making.
- The 'Courage Compass' helps entrepreneurs navigate uncertainty.
- Intuition can be as valuable as analytical thinking in decision-making.
- Failure is a common experience in entrepreneurship, but it can lead to growth.
- Identity anchors outside of business are crucial for emotional health.
- Growth should be managed to avoid burnout and misalignment.
- Empathy is essential for identifying real problems to solve.
Timestamps
00:00 Introduction
02:08 The Story of Neobex
03:03 Navigating Challenges During COVID-19
05:38 The Courage to Pivot: From Supply Chain to Nitrile Gloves
10:58 Understanding the Entrepreneurial Shadow
15:40 The Courage Compass: Tools for Decision-Making
24:03 The Importance of Intuition in Entrepreneurship
27:17 Journey in Entrepreneurship
33:12 New Culture of Entrepreneurship
35:50 Advice on Innovation and Entrepreneurship
38:09 Lessons from an Entrepreneurial Journey
41:33 Future of Entrepreneurship: Decision Quality and Growth
45:21 Connecting with Phil Neal: Resources and Insights
Connect with Phil
- Website: https://philneil.com/
- LinkedIn: https://www.linkedin.com/in/philippe-neil/
Connect with Vit
- Website: https://vitlyoshin.com/contact/
- LinkedIn: https://www.linkedin.com/in/vit-lyoshin/
- X: https://x.com/vitlyoshin
- Buy things on Amazon that Vit recommends: https://www.amazon.com/shop/anhourofinnovationwithvitlyoshin
