SaaS Interviews with CEOs, Startups, Founders
1093 If you're under 30, is agency/coaching a good way to make money?
22 Jul 2018
Chapter 1: What is the main topic discussed in this episode?
This is the Top Entrepreneurs Podcast, where founders share how they started their companies and got filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. We went from a couple hundred thousand dollars to 2.7 million. I had no money when I started the company.
It was $160 million, which is the size of many IPOs.
We're a bit strapped. We have like 22,000 customers. With over 5 million downloads in a very short amount of time, major outlets like Inc.
Chapter 2: How did Jeremy Adams achieve success at a young age?
are calling us the fastest growing business show on iTunes. I'm your host, Nathan Latka, and here's today's episode. Hello, everyone. My guest today is Jeremy Adams, and he's one of the Forbes and Influensive.com's top 30 entrepreneurs under 30. He's not timid to climb the ladder of ultimate success now with Unicorn Innovations.
He's armed with an impressive background in sales and digital marketing, and at 22 years old, he went on to become the founder of Prestige Food Trucks, along with launching many other successful businesses, including one with Kevin Harrington. a past investor from Shark Tank. Today, he's focused on an exciting new venture with his close friend, Maxwell Finn, called Unicorn IQ.
Jeremy, are you ready to take us to the top?
I'm ready.
All right. So everyone always discounts interviews when I have someone on who's running like an agency because they assume that's a lifestyle business and you can't scale and it's really tough. Why should people listen to the rest of this thing?
Yeah, that's a great question. First of all, Unicorn Innovations isn't an agency, right? Like we'll take on some select consulting work here and there, but we're really just have a giant plan for how we can impact tons of people with everything we've learned and everyone we're connected with. Unicorn Innovations is a parent of multiple unicorn subsidiaries that are coming out.
Our main focus right now is Unicorn IQ and Unicorn IQ is gonna be the leading marketing training, like course and actual live training platform in the world. We've partnered with multiple experts. We're releasing amazing content, amazing training, and, you know, really looking to just provide value and help people grow their businesses and change lives.
And so Jeremy, the natural question, people are always skeptical about courses. They go, well, if someone's so good at something, why are they going to spend time teaching it? Why not just do it and make a lot of money that way? How do you respond to that? Because I'm teeing up with a softball question here because I want you to give examples of what you've done.
Yeah, totally. So, um, my partner, Max and I, we've been behind the scenes guys for a few years now we had our, um, first of all, I grew my food truck manufacturing company. We'll do just under 10 million in revenue this year with online marketing, uh, primarily with organic, um, and paid SEO. We were target on Facebook, but it's an intent base. So we, we grew that market.
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Chapter 3: What differentiates Unicorn Innovations from traditional agencies?
They don't know how to take the creatives, pick a winner, then launch a new B test against the A winner. I mean, besides the blocking and tackling, why can't people do this themselves?
I mean, I think everybody can do it, right? It's not a matter of Facebook makes it very easy. Google's the same way. They make it very easy to spend money. There are huge companies. They want you to sign up, put your credit card info and start creating ads. It's just a matter of. There's more to it than the Facebook ads themselves. And I believe that's where a lot of people get lost.
You have to have ultimately a great product or service. I mean, you see people with these horrible products. I mean, these horrible ad campaigns that are super profitable because they have a great product and service.
Name one.
I mean, what we're doing consulting work for a guy right now that he has a toy company made for kids that are made for parents that want to buy toys for their kids that are like stimulate their brain, like STEM toys. One Facebook is, it was a boosted post. It wasn't even an ad. He thought it was an ad, but he did like 3 million in revenue and three months just launching a Shopify store from that.
And so what was the boosted post? Like what, what was it? A video? What was the format? What did it link to?
It was an image of, um, his top selling toy. So his, his top selling toy was a blue robot that, you know, took two hours to put together and it was solar powered. And, uh, It, it just absolutely killed. And ultimately when you look at it, like from a Facebook marketing side and the point being like, we're not, we're not miracle workers.
Like we now will work with people like getting your product or service out in is the most important part before you can make a Facebook ad campaign. successful long term. We just come in, we take a C to an A or B to an A where we can't take shitty products or shitty services and make those profitable. No one can. I think that's where a lot of people like really, really struggle.
So in the past 12 months, how much ad spend has Unicorn managed?
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Chapter 4: How does Unicorn IQ plan to impact the marketing training landscape?
So that's kind of that we manage some stuff together. But
um 10 million plus and then how do you guys make money from that is it is there is there just a percent fee you're taking on spend or what depending on the client relationship it's a percentage of profitability on certain cases paper performance there's um you know management fee for some clients it really just depends our own ad spend right it's just based on if it's profitable or not what is your own ad spend what are you driving traffic to right now is do you already have the course live
Yeah, Unicorn IQ. So we did just on our Facebook course. So Unicorn IQ is a new project of ours. The Facebook course really took off. We did over a million revenue.
What's the link to that, Jeremy?
We just made a new link. I can get that to you.
Yeah, try and bring it up while we're doing it. Because a lot of times when people listen to these shows, what they're doing actually is they're playing it on their computer and they're going and looking at the front facing version while you're sharing kind of how it's doing. So like when I go to, it's not unicorniq.com.
It's unicornIQ.co, and then I just messaged you here the actual link to the course.
Oh, okay.
But yeah, we drive a lot of page traffic to that particular link, and we have variants of the landing page based on what we're doing. But yeah, we did a little over a million in revenue on that course since the summer. And then we just, we knew we had something, right?
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Chapter 5: Why are people skeptical about online courses?
We just spent a lot on paid traffic.
How much?
Over 400 grand. So we didn't profit a million, but we spent a lot on paid traffic. I mean, there were definitely days, where we're spending, you know, 5K in a day and making 3K in revenue. And there's also those days you spend 5K and make 15K. And so it's just... Yeah.
How do you... What was the price point of the course?
990... We went back and forth between 1,000 and 1,500. We were at 1,500. We just... And that's included. What makes ours very unique is we include live trainings with ours. And we haven't charged extra for live trainings. That was our big value add. You get the course... But Max would go live twice a week, do ad audits, Q and A. Only to customers? Yeah. And they would get it for free.
And it's just unbelievable value. Like he just goes live for three plus hours a week total.
So if you did a million in revenue, what you've signed up about a thousand people at a thousand bucks on average.
On average, yeah. It's a little bit more than that. We ran some at first. We were just trying to get people into the ecosystem anyway. We ran a lot of discount codes when we were just getting started. So maybe more than 1,000 customers. Yeah, we had probably about 1,500 customers. Got it. We sold some courses at $400 or $500 and stuff to get people in the ecosystem.
So Jeremy, how old are you out of curiosity?
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Chapter 6: What specific successes has Jeremy had with 3M and other clients?
I've never, I'm just telling you, I've never seen an example of an info product subscription like this where it's just content going out and there's no software component.
Yeah, it's not an info product. It's live training. It's Q&A.
It's teaching. It's teaching.
Yeah, it's teaching.
I've never, so Kim Garst is a great model of this. She, I think, is one of the best in the industry at this. Her sticky rate, her turn rate, they stay on average for five months, right? And she's, I mean, she's really good. She's keynote speaking, just like you guys are.
I've never seen an example of someone doing teachings, trainings, courses, whatever you want to call it, and have that kind of sticky rate, which is why I go back to the question, how do you get wealthy from this? And the reason I'm bringing this up is I'm trying to pry in and see if you guys
are thinking about do you build software to help people manage this because the software atm is a way better atm than a teaching one and that that's a that's a great point i mean i will you know respectfully disagree with i i do believe because i i talk to our customers and i know the type of value that we're providing it's not coming from arrogance like we we work really hard max in particular to to do everything we can to help out as many people as we can in our tribe
And I am confident that people are going to stay long-term.
Obviously, as we grow- Well, you can look at the data though, Jeremy. So what is the data telling you right now? You've signed up customers. How many of them are staying month to month?
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