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.
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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:
- 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?