5 Kids, $5 Million 2015 Agency Revenue With Joe Apfelbaum of AjaxUnion

Joe Apfelbaum

In Episode #412, Nathan interviews Joe Apfelbaum of Ajax Union. Joe has had several successful six-figure businesses, and Ajax Union is no exception. The company did $4 million last year, and they have plans to hit $6 million for revenue this year. Take a few notes from Joe’s playbook and take your own business to six-figure success.

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Famous Five:

Time Stamped Show Notes:

  • 01:40 – Nathan introduces Joe
  • 02:35 – Joe just had his fifth kid
  • 02:55 – Ajax Union was not his first six-figure business
  • 03:30 – It started as a side gig
  • 04:05 – They did $500000 in revenue in 2009
  • 04:25 – 2015 revenue was $4 million
  • 04:45 – They shifted to focusing on their bottom line
  • 05:00 – Revenue per client is $10000
    • 05:15 – A focus on giving better service, not bringing in more clients
  • 05:25 – 20 employees
  • 05:55 – Their goal for 2016 is 6 million
  • 06:10 – Bottom-line margins were small in 2015
  • 06:35 – He wanted to run a smaller business and lose less money
  • 07:15 – The underlying cause of a lifestyle business
    • 07:35 – Paying himself well and living a good life
    • 08:00 – Take-home income was over $200k
  • 08:50 – First year revenue was $500000
  • 09:15 – Paid on a retainer basis
  • 10:25 – Unparalleled marketing support
  • 10:45 – Churn is irrelevant for this stage of the company
    • 11:20 – They turn down clients.
  • 11:35 – A focus on bottom-line growth this year
  • 11:55 – Working with Jacobtime
  • 12:30 – Joe is a killer marketer!
  • 13:00 – Taking stable businesses and helping them take off
  • 13:30 – An investor put in $1 million
    • 14:05 – They wanted the partnership
    • 14:45 – Valuation for his company was very good
    • 15:30 – An angel investment
    • 15:45 – Profit sharing
  • 16:15 – His podcast, CEO Mojo
    • 16:30 – Doing weekly interviews and figuring out the obstacles of getting to having six-figure businesses
    • 17:10 – A goal to grow a database of content
    • 17:25 – In the process of writing a book based on that content and creating courses
    • 18:30 – The true value of documenting the stories of entrepreneurs
    • 19:00 – He wants people to see that success in your business, life, and family is possible.
  • 20:00 – People can follow Joe at Facebook.com/joeapfelbaum and on LinkedIn
  • 20:20 – Snapchat and Instagram
  • 22:30 – The Famous Five

3 Key Points:

  1. Start your business as a side gig, and make the transition to owning your own business easier.
  2. Create a lifestyle business that gives you more freedom to live a happy life.
  3. Focus on the quality of the service you are providing before you start drawing in more customers.

Resources Mentioned:

  • Toptal – Nathan found his development team using TopTal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal developers. 
  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • 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.
  • Think and Grow Rich, Traction, The Miracle Morning and Getting Things Done – Wherever you’re at with your life or your business, one of these books will be right for you!
  • Google Docs, Trello, and MailChimp – Joe’s favorite online tools
  • CEO Mojo – Follow Joe’s podcast to hear the stories of successful six-figure entrepreneurs
  • Show Notes provided by Mallard Creatives