29 Jun How a Former Agency Owner Purchased a SaaS Business That Makes Him $60,000 a Month? w/ Ryan Kulp
Ryan Kulp is the founder of Fomo, a social proof marketing platform that showcases recent customer behaviors to increase conversions and turn your website into the thriving piece of real estate it is. He’s also a full-time indie rock musician, whose new album South of Market debuted April 2017.
In this episode you’ll learn:
- [00:40] How did Ryan come up with an elevator pitch for Fomo?
- [01:30] Origin story of Fomo
- [02:40] What does Fomo do?
- [03:03] Why did Ryan decide to rebuild the software after buying it instead of building it from scratch?
- [04:50] Ryan’s history with the agency world – how did the 6 months prior to buying the software look like
- [11:15] Ryan’s preference between running an agency or creating SaaS based product
- [16:14] What did the acquisition process of Fomo look like?
- [22:30] How did Ryan finance the deal?
- [24:30] How to approach something you haven’t done before?
- [26:15] How long did it take for Fomo to get profitable?
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