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?

Episode 3 - COACHES EYE: SNAILS, BANANAS & DEFINING SUCCESS