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Eric Siu

๐Ÿ‘ค Speaker
138 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So the original, I mean, it's like, it's like a typical marketing agency where people will come to us looking for SEO help or paid advertising help.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

And, you know, just to be frank, I was, I took over the business around two years ago.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So I'm not the original founder.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

It was a struggling business.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

And, you know, I really started to figure out, started to look at things and say, wow, I, there's certain parts of the business that I just don't like.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So I really want to talk about how, you know, I was able to stop doing what, you know, I'm not good at and really started to focus on what we are good at.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

Um, and in this, in this scenario, you know, we still get a lot of great leads and, you know, we, we've kind of started going in a direction of becoming a referral agency where we're giving business to other agencies and we're collecting a recurring income.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So that's been continuing to grow in the last eight months.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

And then the, the monthly recurring revenue on that so far is a $30,000 a month from zero, um, eight months ago.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So I interesting story.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

I was brought on to help help the agency.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

I was given a 10 percent stake.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

And then down the road, the original founder decided he didn't want to do agency anymore.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

He wanted to go do something else.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

There were a couple of other partners in the business.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

But, you know, we worked out a deal where at the end of the day, out of pocket, out of my own pocket, I paid two dollars for the company.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

Yeah.

SaaS Interviews with CEOs, Startups, Founders
How To Acquire $1m+ Company For $2 Dollars with Eric Siu CEO of Single Grain

So the way it was structured, so, you know, we paid out, you know, the buyout, you know, the buyout was actually about 150K, but that was paid out by the company's, you know, revenue.

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