Ryan Kulp, founder of FOMO.com, describes running his former agency Sprinkle Labs and the tendency of agencies to expand beyond stated specializations.
0:00 / 0:09exact quote · 9.7s
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“When you're an agency, you just do whatever people pay you to do. To be honest, people always say like, we're super focused on copywriting. It's like, no, you don't. You probably set up like Google analytics for people if they ask.”
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More from Ryan Kulp
AssertionNot publicly verifiable
Competitor Proof ran Facebook ads featuring FOMO's customers and product
“Some of the other things they've done are like made advertised promotional videos with our customers in it, and then put tens of thousands on Facebook ads to promoting these videos. And if you watch the video, it's talking about proof, but in the video is our …”
Ryan KulpMay 28, 2020▶ 23:38How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
AssertionNot publicly verifiable
Competitor Proof copied FOMO's entire terms of service word for word
“Proof, like copy pasted our entire terms of service word for word.”
Ryan KulpMay 28, 2020▶ 21:29How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
Insight
Marketing does not move the needle in enterprise software
“Marketing doesn't make a dent in, in enterprise software.”
Ryan KulpMay 28, 2020▶ 3:20How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
Disclosure
NotifyApp was acquired via zero-interest seller financing matched to revenue
“So we did a structure like that without interest without outside financiers. The monthly payments were similar to the revenue. We were able to grow it just above board of our monthly service payments. And then we introduced a clawback provision Such that if tw…”
Ryan KulpMay 28, 2020▶ 6:18How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
Insight
Solo founders need $30k MRR with employees to match $10k solo profit
“Once you're at 15 KMRR and you hire even a couple of part-time developer support, now you're down to like five KMRR take home. And so it's this hedonic treadmill of like, you need to get to 25 or 30 KMRR with employees to make the same amount of money as 10 KM…”
Ryan KulpMay 28, 2020▶ 12:25How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
Opinion
FOMO.com's domain and IP add at least $1M to an exit valuation
“I think the FOMO.com domain has a lot more value than the 105 K we paid for it. So I think the right buyer kind of would be willing to itemize to some degree. Here's the EBITDA. Here's the multiple on that. Here's your 50 trademarks and copyrights, and here's …”
Ryan KulpMay 28, 2020▶ 29:30How to Acquire a $180k Revenue SaaS Company for $3k With Ryan Kulp
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