Everything Joe Kaufman said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Kaufman: A business is not profitable if the CEO underpays themselves
“One of the things that he says is that as a CEO of a company, if you're not pulling out the salary that you would be making as a hired for gun CEO somewhere else, then your business isn't profitable.”
Kaufman: Four holding companies own almost all global marketing agencies
“There are four holding companies that own almost all marketing agencies in the world.”
Kaufman: Extreme labor efficiency ratios signal either burnout or excess headcount
“If you're running too hot with a high ratio, then it means that you're burning your people, and if you're running too low, then your profitability is really suffering, and you've got too many people.”
Kaufman: Coca-Cola Has Achieved Water Neutrality in Manufacturing
“One of my clients that I had a relationship with needed help telling a story about Coca-Cola's new water sustainability efforts, and the fact that they are actually now water neutral in their manufacturing processes, which is a really big deal, and it's been a…”
Agency Sparks Charges Upfront Vetting, Monthly Retainers, and Deal Percentages
“We traditionally were paid by the agency to put them through a very thorough upfront vetting process, and then we were paid a monthly retainer as well as a percentage of the deal.”
Kaufman: Agency Sparks charges a $5,000 monthly retainer to marketing agencies
“5000 dollars a month per agency.”
Kaufman turned down a $400k salary and $1.5M earnout to start Agency Sparks
“400 K plus an earn out of 1.5 million because they were in the middle of an acquisition situation.”
Kaufman: Agency Sparks will cross $1M in revenue in 2017
“We're going to cross a million.”
Kaufman targets selling Agency Sparks within five years
“Yeah, I think five years and then sell.”
Agency Sparks Requires 12-Month Contracts for Retained Agencies
“Yeah, it's a year deal.”
Kaufman: TechTarget acquired Knowledge Storm for $58M after raising $100M IPO
“Tech target went public, raised a hundred million and then used about half of the money to buy knowledge storm. But I think we sold for fifty eight million.”
Kaufman: Agency Sparks operates with two full-time and two part-time employees
“We have four employees two full-time and two part-time. In addition to me.”
Top Founders 3