We spent $681k on acquisitions in the past 6 months.
The original plan was purely financial.
E.g. buying numbers.
We pay up front to add more revenue and profit.
And that part is working (mostly).
But the hidden benefits, benefits I didn't expect are twofold:
1οΈβ£ People
We were lucky, but we have managed to "acquire" a number of team members that are thriving:
- @lunodavinci, still killing it in sales for Fame Lite
- Ariel Valle, now running Fame Clips AND Fame Lite
- SofΓa Mohr, now running Fame Connect
(To name a few!)
Hiring these people cold would have taken many attempts.
2οΈβ£ Expertise
Most business are great at something.
I used to think we were great at everything, but it took acquisitions to realise we aren't:
- Lychee (Fame Clips), much better at systems and automation
- @podcasting360 (Fame Lite), much better at low cost production
- @speakonpodcasts (Fame Connect), much better at outbound
Now we're better at all those things.
I got asked recently:
"So do you think you'll make money on these acquisitions?"
I answered:
"Hopefully, but it isn't that black and white".
We acquired for numbers, but got great people, and even more expertise.
skrillex will always remind me of better times and falling in love with electronic music
I'm sure so many other producers feel the same but he's the reason why so many of us are producing today π₯²
my GOAT to this DAYYY
We're wasting 35% of our marketing spend.
Why?
Because 35% of leads we generate can't afford our main service.
First we ignored them. Then we tried to refer them to a low-cost partner. Tomorrow we service them.
How?
I'm excited to announce that Fame has acquired @podcasting360! π
A low-cost, unlimited podcast production service with an awesome team and happy customers.
Thanks to @lunodavinci and @gentoftech for being awesome during the process.
P.S. Ahrefs has a "Starter" plan for just $29 per month.
Special thanks to our sponsor, @ahrefs, for their incredible SEO tools that help us make strategic decisions like this acquisition!
https://t.co/AD2EuahJ0D
#ahrefs #sponsorship #competitiveintelligence