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Creator Lab - interviews with entrepreneurs and startup founders

Revealing conversations with the leading creators of our time. From proven entrepreneurs building the companies of the future, to non-profit founders creating change and the artists shaping our culture - we go beyond the surface to find the nuance in what it takes to turn your ideas, into action.
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Aug 21, 2020

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?
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