SUMMARY:

In this episode, we discuss the world of micro private equity, buying existing companies with little money down & the philosophy of becoming an owner.

Ryan has a growing portfolio of 7 products, including fomo.com, a popular SaaS Shopify app. He’s doing 7-figures in revenue, all while living a nomadic life traveling the world, coding on-the-go & making music.

SHOW NOTES:
https://www.creatorlab.fm/ryan-kulp-fork-equity/

WATCH + SUBSCRIBE ON YOUTUBE:
https://youtu.be/yEaKaxRgjlQ

WHAT YOU'LL LEARN:

• importance of ownership of your actions + becoming an owner in a business
• building from scratch vs buying an existing company
• thinking through career transitions + knowing when to leave your job
• how to work with a romantic partner
• partnering with investors to buy companies
• his opinion on self-funding vs raising investment
• why job security isn’t about the company you work for
• breakdown of his first 6 figure acquisition
• why someone would sell a business in the first place, and what to look out for
• what is seller side financing + how can you use it to buy a company with little money down
• SBA loans + how you can use one to acquire a company
• dealing with people who have negative energy
• scaling a team beyond yourself

TIME STAMPS FOR VIDEO:
https://youtu.be/yEaKaxRgjlQ

• 00:00 welcome
• 01:42 why ryan landed in korea
• 04:46 learning languages
• 05:57 not pitching
• 08:43 ryan's background 09:31 learning to code + becoming an owner
• 11:40 bootstrap vs venture capital
• 15:07 pros + cons lists
• 17:14 raise to make your vision bigger
• 18:51 nuance + balance from extremes
• 22:42 importance of becoming an owner
• 25:33 54 side projects + 7 companies
• 28:13 7 figure revenue, 70% margin
• 28:49 running a business with a romantic partner
• 34:27 knowing when to leave your job
• 45:52 job security + your own skillset
• 48:42 why buy vs build from scratch
• 51:57 do I need money to buy?
• 53:22 buying fomo.com with no money down
• 59:23 how to value a small business
• 1:03:23 what is seller side financing?
• 1:04:33 what is a clawback provision?
• 1:05:33 why would someone sell a business?
• 1:07:43 "it's too good to be true"
• 1:11:32 two types of people, which one are you?
• 1:14:27 dealing with negative energy
• 1:16:36 debt vs equity to buy companies
• 1:18:01 using SBA loans to buy companies
• 1:26:26 business returns vs real estate vs stocks
• 1:27:31 be fearful when others are greedy, and greedy when others are fearful
• 1:29:57 partnering with investors to buy a company
• 1:32:59 scaling a team beyond yourself
• 1:37:32 being conservative in tech
• 1:39:47 types of luck
• 1:43:28 what's stopping you?

Who Is Emily?

"Most Important Entrepreneur of The Decade" - Inc Magazine

Emily is a true branding expert.

She's helped to build brands like Allbirds, Casper & Boxed from the ground up & paved a new path for entrepreneurs building in the direct-to-consumer (D2C) space.

Win A Free Book

We're giving away 5 free copies of Emily's new book: Obsessed: Building a Brand People Love From Day One

Sign up here for details:
https://bit.ly/2Xxh58X

What You’ll Learn

The approach Emily and her team use to create brands that people love from day one.

Real-world examples from brands like: Apple, Nike, Warby Parker, TOMS, Allbirds, SoulCycle, Everlane, Thinx, and more.

You’ll learn:

• 3 pillars of brand strategy: mindset, key problem, brand idea
• what you can learn about brand storytelling from stand up comedy
• getting to the consumer need & “the why test”
• knowing when you’ve got to the “core brand idea”
• the difference between functional vs emotional brand storytelling
• the best way to get customer feedback
• how consumer expectations are being redefined
• why brand consistency is no longer the only approach to take in 2020
• how subtle language can make a huge difference in the tone of your brand communication

Time Stamps:

00:00 intro
1:24 who is emily?
2:00 equity vs agency fee
3:09 branding book
4:15 what is the importance of brand?
5:05 defining brand
9:08 3 parts to brand strategy
14:40 customer interviews
20:33 beyond functional benefits
22:51 casper + core brand idea
25:30 airbnb + the why test
29:50 evaluating brand idea
30:30 boxed + comparing to competition
32:30 allbirds examples
37:40 nike + laddering up value
38:10 apple + green text
41:35 soulcycle brand juxtaposition
42:50 breaking the rule of consistency
44:30 thinx
47:40 non-profits + cause
50:50 toms shoe
53:10 warby parker
53:37 bombas
54:55 everlane
59:40 cancel culture + consumer expectations