Hank Leber
๐ค SpeakerAppearances Over Time
Podcast Appearances
And my million run rate business died.
But there are 10 million, 20 million run rate businesses that also died.
Same fate, building on the back of Google or YouTube or whatever.
And I think that that's just an automatic trigger to say, let's cut this and do something else because the odds are coming back.
Yes, and I believe with the angel investors looking for their 100X or 1,000X, they're willing to play that game.
But once you have that loss, it's not a stumble.
It's an absolute explosion.
Yeah, so the agency was partnered up with Amplify.
the startup accelerator in Los Angeles.
They have a really high quality program, writing check size about 200,000, and they'll do 10 companies a year right now.
So it was a really high quality group of companies that we knew needed growth marketing and could use agency style service like what we did with Vitamin, only human instead of machine, so we weren't violating any sort of policies.
So grew that company to pretty close to a million run rate as well in the first year.
And it's an agency.
So we're not talking about SaaS here.
We're talking about, you know, having a dozen or so clients and, you know, they're all paying, you know, five to 10K a month.
You quickly can get to that run rate.
But with the human capital on there, the margins were different.
It was a very different kind of business.
And, you know, we saw that it wouldn't scale the same as a SaaS business.
And