By Ed Johnson, CEO & Co-Founder of uRoutine
As someone who has recently gone through a startup “exit”, I thought it might be helpful to anybody else considering it, to share the journey and a few key considerations. Before I provide further context, I will start by confidently saying that selling a business is an experience like no other.
When Gabriel and I founded tech startup PushFar, we were driven by a shared passion for creation and innovation. The thrill of building something from the ground up, seeing it take shape, and watching it impact people was what fuelled us. I know lots of entrepreneurs who are in the same camp – seeing something you build, being adopted and used by others and watching it grow.
However, as the business matured, revenue grew and our client-base expanded, our roles evolved in ways we hadn’t fully anticipated or considered. The day-to-day excitement of problem-solving, product development, and fast-paced decision-making gradually shifted into something a lot more structure and process-driven. Which, you might think, is a good thing and a safe haven from the usual chaos that goes with startup life. However, it’s an entirely different beast. And while that’s a natural evolution for any successful startup, it forced us to confront a difficult question: was this still what we wanted?
The Decision to Exit
Selling a business is almost never a straightforward decision, less so, I expect, when the business is doing well and growing from strength-to-strength. As a founder, this is particularly true when it’s something you’ve poured your heart and soul into. PushFar had grown into a thriving company, with a strong client base, solid revenue, and a clear path forward. Investors were happy, clients were happy, we should also have been happy – and to a certain extent we were. But internally, both Gabriel and I felt that our roles were shifting in a way that no longer excited us in the same way it once had.
At the core, we are entrepreneurs, and this is something I didn’t fully appreciate until I went through this journey. Now I know, though, that we thrive on building, creating, and innovating. As PushFar expanded, our responsibilities became more about managing sales, customer relations, operations and tech support rather than the hands-on, rapid iterating of the business we loved. There’s absolutely nothing wrong with that – it’s a sign of a well-run business – but it didn’t align with what we enjoyed or took pleasure from.
At that point, we began exploring our options. One possibility was stepping back from daily operations while appointing a new CEO to run the company. That way, we could retain control while allowing someone else to handle the more structured aspects of the business. Many founders choose this route, and it can be a great way to ensure continuity while pursuing new ventures. But in our case, after careful consideration, we felt that this wasn’t the right approach. We wanted to ensure the business continued to grow under leadership that was fully invested, without the complexity of divided ownership. And, frankly, we knew we were ready for a new challenge.
So, Let’s Get Acquired
Once we made the decision to sell, the next step was finding the right buyer. We wanted to capitalise on the successful business we’d built, find a good return for our investors and crucially to hand over the reins to new owners who could carry on the business and oversee great growth. We had built something we were and still are incredibly proud of, and we weren’t willing to hand it over to just anyone. After exploring several options, we ultimately partnered with ScaleUp Capital, a UK-based private equity firm that we believed could take PushFar to the next level.
The acquisition process itself was such a valuable experience, and we learned so much about it, which is ensuring that we set up our next venture (more on that later) with the right framework from day one. Selling a business isn’t just about agreeing on a price and signing some paperwork – it’s a detailed, often lengthy process that involves due diligence (there’s a lot of that), negotiations, legal considerations, and emotional highs and lows. There were moments of excitement, frustration, and even doubt. Were we making the right decision? Were we truly ready to step away? But as we moved forward, it became clear that this was the right path for both us and the company.
Saying Goodbye
The strange thing about acquisitions is that whilst there’s usually the “deal day” when you sign the paperwork and handover the rights to your business, there’s often an earn-out period or deferred period – sometimes referred to as “golden handcuffs”. You are effectively tied into the business for a year or two. So, you say goodbye, but you stay with the business, going from employer to employee. The day the acquisition was finalised was both exciting and also, probably more so, a sigh of relief after all the work that goes into the deal process. On one hand, it was a celebration of everything we had achieved and finally capitalised on. PushFar had become a success story, and the exit validated all the hard work we had put in. But on the other hand, it was a slow goodbye – a realisation that we were no longer in control of something we had built from nothing.
Letting go, if you’re not prepared for it, can be one of the hardest aspects of selling a business. Through the exit process, I spoke to several founders who had been through similar experiences, to find out what it was really like. Nearly all of them said the same thing – when you know that it’s coming and you’re mentally prepared for it, the whole process can be a breath of fresh air. When you’re trying to fight it, to a lesser or greater extent, it can be painful. When you spend years pouring your energy into something, it becomes a part of your identity. Nowadays, I would argue, more so, with personal branding and social media. In many ways, a business exit can feel like a loss – not necessarily in a financial sense (quite the opposite with a successful exit), but in terms of purpose and routine.
One of the most unexpected challenges that I found was finding structure to my day, once the deal was done. I was still an employee with PushFar for more than a year and a half, after we signed the contract, but I went from owner to employee and the dynamic shifted a lot. I was far less busy; my role slowly but surely was handed on to others as part of the succession plan and I had far more free time than I knew what to do with. In the startup world, your schedule is dictated by the relentless pace of growth. Once that disappears, there’s an emptiness that’s hard to describe. It’s an adjustment period, and I now understand why so many entrepreneurs struggle with what comes next.
Finding Purpose (Again)
Gabriel and I knew we weren’t the type to retire early or sit back and relax for too long. Far from it – that’s the reason we wanted to sell PushFar, after all. The excitement of building something new was already calling us. And so, a month after our official exit, we have already embarked on a new journey and a new venture. Namely, uRoutine.
uRoutine is a social routine and accountability platform, designed to help people to achieve more, find motivation and improve productivity. It’s still in its early stages, but already, the feeling of building something from scratch again is exciting. The ideation, the problem-solving, the fast-paced decision-making – this is exactly what we love.
One thing we’ve learned through this process is that entrepreneurship isn’t just about business success. It’s about the fun and thrill of creating. Some people are happiest when running a steady, established company. Funnily enough, before our exit, I thought that I might quite enjoy being the CEO of a steady, established business. This process has taught me otherwise. Others, like us, are driven by the process of bringing new ideas to life. Recognising this about ourselves made the decision to sell PushFar even more clear in hindsight. It wasn’t just about cashing in on success – it was about making sure we were doing what truly fulfilled us.
Key Lessons on Exits
For any founder considering an exit, below are a few key lessons that I took away from this experience.
- Understand Motivations – Selling a business should be about more than just financial gain. Ask yourself whether stepping away aligns with your personal and professional goals. Are you still enjoying the work? Does your role excite you? If not, it might be time to explore other options.
- Consider the Alternatives – An exit almost invariably isn’t the only option. If you still love your business but feel bogged down by operations or processes, bringing in a CEO or restructuring your role could allow you to stay involved in a way that suits you better.
- Choose the Right Buyer – Not all acquirers have the same vision for your business. Make sure you’re selling to a company or investor who will respect and build upon what you’ve created.
- Prepare for the Emotional Side – Exiting a business isn’t just a financial transaction. It can be a major life change. Be prepared for the transition period and take time to rediscover what excites you outside of your former business.
- Embrace New Opportunities – An exit isn’t the end; it’s a new beginning. Whether you take time off, invest in other businesses, or start something new, lean into the excitement of what comes next. Whatever you decide, try and have a plan ahead of the exit, so you know immediately what to throw yourself into.
Selling PushFar was one of the biggest decisions Gabriel and I have ever made. It came with its challenges, but ultimately, it was the right choice for both us and the business. While stepping away from something we built was bittersweet, it opened the door to new opportunities that align more closely with our passions.
Now, as we pour our energy into uRoutine, we’re reminded of why we became entrepreneurs in the first place. If you’re a founder considering an exit, my advice is simple: know yourself, understand your motivations, and make the choice that aligns with where you truly want to be.
The entrepreneurial journey never really ends – it simply evolves.