In Episode #258 Nathan interviews Adam Steele, a serial entrepreneur who’s built and run 3 successful companies and is currently launching his 4th. Adam’s an SEO expert who’s building his digital marketing company, Magistrate, into an SEO empire. Listen as Nathan and Adam talk about managing multiple companies, and how to make yourself redundant.
Time Stamped Show Notes:
- 01:05 – Nathan’s introduction
- 01:35 – Welcoming Adam to the show
- 01:40 – What happened to the first three companies?
- 02:10 – “I get things to a point where my involvement is minimal” – then sell
- 02:40 – Magistrate, the digital marketing company, had the highest revenue
- 03:00 – Loganix is what he counts as the most successful
- 04:10 – Loganix builds or acquires links for groups
- 04:50 – The company is 6 years old and has served over 3,000 clients
- 05:08 – 2015 revenue around $500k; this year on track for $750k
- 05:50 – Currently run by a local manager
- 06:10 – Net margin of 75% – but high engineering costs mean a take-home of 30-40%
- 08:10 – Adam reinvests cash in his next company
- 08:50 – Adam’s personal expenses are around $6-7k per month
- 09:40 – He takes a small salary from Magistrate, plus dividends
- 10:10 – Magistrate, Loganix, Local PBN, and unnamed
- 11:48 – Local PBN made around $15k in total revenue in 2015
- 12:10 – Adam’s latest company doesn’t have a name yet
- 12:35 – It’s aimed at licensing information obtained from defunct websites
3 Key Points:
- Total revenue isn’t the only measure of success. Decide what you want to get from the company you’re building.
- Make the most of your resources. Think about what subsidiaries you can develop from an original startup.
- Want to move on to another project? Exiting isn’t the only option. With clever automation and a good local manager, you can minimise your involvement in your company.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
- Show Notes provided by Mallard Creatives