POPULARITY
Recorded on April 30, 2020Ian Ippolito is an American serial entrepreneur and the founder of numerous tech companies. He is best known as the founder of vWorker (formerly called Rent a Coder), an online portal for outsourcing computer virtual work projects. vWorker was purchased by Freelancer.com in 2013 for an undisclosed price in the millions of dollars. Ippolito is also the founder of the first open-source website (Planet Source Code) and a financial investment site called The Real Estate Crowdfunding Review.[2] As an entrepreneur, he has been featured in and provided commentary for numerous publications and media outlets including Forbes, Entrepreneur, The Wall Street Journal, as well as Fox and CBS News.Find out more about The Real Estate Crowdfunding Review: https://www.therealestatecrowdfundingreview.com Subscribe to our newsletter and receive our underwriting model package:Rob's NewsletterFollow Rob Beardsley:YouTubeFacebookLinkedInLearn more about us at:www.lonestarcapgroup.com
Hear how Ian Ippolito, former founder of V-Worker (today known as Freelancer.com, and previously known as Rent-a-Coder) stumbled into Internet marketing success not once, but twice. Ian holds a degree in computer science and started out his career company-hopping and consulting before growing frustrated with the roadblocks to innovation and change in being an employee. He decided to launch Planet Source Code for coders and attracted upwards of 4 million new visitors a month before the dot com crash imploded his business. Faced with mounting bills and a flatlining business, he restructured his idea to connect workers with employers who needed coders. That idea became known as vWorker. Click here for show notes and transcript. Leave some feedback: Who should I interview next? Please let me know on Twitter or in the comments below. Did you enjoy this episode? If so, leave a short review here. Subscribe to Growth Everywhere on iTunes. Get the non-iTunes RSS feed Connect with Eric Siu: Growth Everywhere Single Grain Twitter @ericosiu
Can you know it all? No. I share some insights on how you should focus on the who vs the how. These and more tech tips, news, and updates visit - CraigPeterson.com --- Transcript: : [00:00:00] Hi guys, Craig Peterson here and I am sitting over-looking Lake George, boy what a beautiful place and a great time of year. I was listening as I was riding out here on our motorcycle to Dan Sullivan. Now if you don't know who he is he's a great coach and he has a lot of great things to say. : [00:00:18] And one of the things he was talking about today is something that's really kind of bothered me for years and years. You know I'm the kind of guy that has to understand something. In fact, I'm kind of a guy that has to understand everything and obviously understanding everything and be a little bit of an issue sometimes right. You just can't. Basically, you can't understand everything. Now I started a company I was doing well, I had a lot of sales, I had a lot of clients, and so I hired some sales guys and they just weren't performing the way I thought they should. So, what do I do, right. I go out and I hire a coach and I start taking courses. I take all of the big sales training courses, in fact, if you've heard about it I've probably taken it. I've probably mentored with a few different people that you've heard of before, in fact I'm sure of it. And I learned a lot about sales. I thought learning about sales would help me, because then I'd be able to discern whether or not someone was a good salesman and if they're good salesmen I should keep them, right. If they're bad salesmen well, you can let go of them and let go of them quickly right. That's the idea. Fail early fail often and but you know I tend to hang on to people, customers as well as employees. And I hung on to some sales guys way longer than I should of and got really disappointed when they walked away or ran away. In one case, with my clients and started calling them up and trying to sell them competitive products and services and stuff and it just it just really bothered me. But the point that Dan was trying to make that really hit home with me. It was something about, Knowing how. And he said the basic thing that you should be looking at here, isn't knowing how to do something. : [00:02:22] But Dan's really big on knowing who to do something. So, I kind of did a take back on that and thought well you know I've been trying to do this for a long time. I think I know what to do. I think I know how to do it. How can I hire someone if I don't know enough how can I tell if someone is a good enough sales person or technician if they are someone that knows more or should know more than I do. Right. So, I've spent decades learning how to do a lot of things and that's kind of cool because I'm a renaissance man. Right after all of these years I know how to do a lot of different things. I've studied seriously studied things like marketing and sales to try and figure it out because I want to help people and yet there's a lot of people out there that there's so much noise they can't discern but this point about how versus who really struck home with me. And I thought of something I should share with everybody and that is. Who is someone who's in the know? Who knows how to do what needs to be done? So, for instance if I want to do webinars better, you know I've been doing webinars for a long time. I do webinars for the FBI infraguard program. All right. I know how to do webinars but I'm not the best in the world at webinars and it might take me another five 10 years to become the best at doing webinars. : [00:03:53] If that's the case is that time well spent at my stage of life I look at it and say absolutely not because I have so many decades behind me there's going to be fewer decades in front of me. Right. : [00:04:07] As we're looking at all of this, and trying to figure out who, I think is way easier than trying to figure out how. Because you can ask not just for recommendations. You know who can I call? Who can give you a good reference? You can look at the work they've done and if you find someone who knows how to do what you need to have done what the advice here is. Russell Brunson was talking about this as well. : [00:04:35] But the advice is while you look at that and say hey guy let's work together on this and 60 days or even 30 days and let's see how it's going after 30 days and see if we really want to get into this. But I am impressed with you and what you can do and maybe I should give you a percentage of the company. Now obviously that's something that you might do for a revenue generator. All right a percentage of the company or a senior manager that is going to be with you for a long time and has skill sets that you really need. But I was thinking about this too from the standpoint of my customers would be really nice if I could say, “hey listen I'll keep a percentage of the money that I save you by not having you hacked. How are you going to figure that one out, Right. That just doesn't work very well because how can you prove that something might have happened, or something didn't happen. Obviously, you can't prove that sort of thing can't prove a negative. So I don't know how well that would work in certain aspects of I.T., But for instance if you need a security company you can go out and hire the best, you could hire my team, if you need a marketing company you can go out and hire the best but try to as long tail as you can. : [00:05:54] You can't hire anymore NIST firm that knows everything. There's just too much to know and that goes back to the initial statement here about the how versus the WHO there's too much for you to know as an entrepreneur. There's too much going on in the business and in life in general nowadays you can't hire a company that knows everything. So really you need to have a security company, you need to have an infrastructure company you know somebody keeps your PCs working and then you've got to reach out further you have to have a company that understands how to do some of the marketing stuff online. How did it use some of the cloud tools that you might be needing to use? You need to have somebody who can compose Emails for you? Help you put together the webinars? Do the videotaping? Do the video editing? Help you with the podcasts? All the ways that you use to reach out to your customers and it gets to be a kind of a complex issue when you get right down to it. But, going right back to this point that Dan Sullivan made. The how versus the who : [00:07:01] You can't be the best at everything. Focus in on what you're good at your core business and then go find the who find the who knows how to do what needs to be done. Just amazing thought to me I'm going to try and work on this some more. Even in some of my hires especially. Now with the gig economy, you know you have sites like Fiverr or even Vworker where you can hire someone to do a task or a small set of tasks. And that's the cheapest best way to get anything done. If you can define the tasks adequately which is sometimes a problem, Right. So, look at that as well is the who you're looking for someone to do something on a short term basis for you where it's like right. Write a little letter or a sales letter or write some copy for a web page or is it someone you need a long-term relationship with. Like it is for my clients you know I have clients some clients have been with me for 25 years where I've been doing the security and network infrastructure work for them for 25 years is that the kind of relationship you need. So backup figure this out. The WHO is probably the answer as opposed to the how. Because you just can't figure out how to do everything especially in this day and age. Visit me online of course Craig Peterson dot com and I'll be back with more insights as I get them. Take care and thanks for listening. I really appreciate it and I appreciate your comments. If I can help, or if you want to ask a question or comment you can text me at eight five five three eight five fifty-five fifty-three or just go to iTunes you can find me or go to Craig Peterson dot com slash iTunes and make. Make sure you subscribe to my podcast. Take care. Have a great day and a great week ahead. Let’s Derail the bad guys. --- More stories and tech updates at: www.craigpeterson.com Don't miss an episode from Craig. Subscribe and give us a rating: www.craigpeterson.com/itunes Message Input: Message #techtalk Follow me on Twitter for the latest in tech at: www.twitter.com/craigpeterson For questions, call or text: 855-385-5553
Ian Ippolito started Rent a Coder as an online marketplace for hiring technical talent. He quickly expanded to go beyond technical professionals and re-branded as vWorker. Ippolito built vWorker up to $11.5MM in annual revenue before he received an acquisition offer from Australia’s Freelancer.com Freelancer.com had been courting Ippolito for months but their original offer was too low in Ippolito’s view. That’s when Ippolito decided the only way for him to get any real negotiating leverage was to seek out a second bidder. In this episode, you’ll learn: the dangers of a proprietary deal what to do when you get a low-ball offer why a BATNA is critical to every deal how to time your exit strategic stalling and how to do it why 90% of earn-outs fail
The Bright Ideas eCommerce Business Podcast | Proven Entrepreneur Success Stories
Show notes for this episode: http://brightideas.co/189 In this interview, Ian and I talked about life after selling vWorker.com. After the sale, there was a number of surprises that came Ian’s way and he shared what he learned from these. We then transitioned the conversation to talking about how he came up with his next idea, how he tested it, and created the products. Have a question about this episode? Record it at: http://brightideas.co/asktrent
Outsourcing is not a bad thing!Eyal Amir, owner of Hammertech Engineering solutions, joins us on todays Appitalize On Your Idea: The Podcast. Eyal is a programmer that I've hired to do some work on apps for me in the past. In todays episode we discuss how you can find and hire outsourced personnel, and what to look for when vetting someone. One big thing we discuss is being able to explain what you want to the outsourced employee.We cover the whole process from once you have the idea to getting it made. Outsourcing is a great way to find someone to help bring your idea to fruition. Outsourcing doesn't necessarily mean giving up jobs and going out of country. The stigma of outsourcing is going away, allowing people who have ideas to make them become a reality.Links Mentioned During the Show:Hammertech Engineering Solutions - Eyal's companyGuru.com - A resource to post your project online, and hire a freelancer to outsource the work.Freelancer.com (Used to be vWorker.com) - Another resource to post your project online, and hire a freelancer to outsource the work.For more information check out Appitalize On Your Idea.
The Bright Ideas eCommerce Business Podcast | Proven Entrepreneur Success Stories
In this episode of the Bright Ideas podcast, I’m once again joined by Ian Ippolito, founder of vWorker.com, which was recently acquired for an undisclosed sum by Freelancer.com, and during our conversation you are going to hear Ian and I talk about: how he managed to sell his company for almost twice the initial offer the one activity that he intently focused on for the year leading up to the sale the steps of the acquisition process, from letter of intent to closed sale the key components that every letter of intent should contain how to understand what the buyer’s motivation is and how to use that to your advantage how to know when to move into due diligence with a potential buyer the most important things that a buyer is going to look for during due diligence the value of a business broker, tax advisor, and legal counsel why most buyers will want to structure the deal as an asset sale how to create an auction for your company to maximize the sales price why and how terms can play such a large role in negotiations ways to structure the sales contract to keep you out of court if things go wrong and so much more… Thank you so much for listening! Please subscribe rate and review on your favorite podcast listening app. To get to the show notes for today's episode, go to https://brightideas.co/xxx...and if you have any questions for me, you can leave me a voicemail at brightideas.co/asktrent
The Bright Ideas eCommerce Business Podcast | Proven Entrepreneur Success Stories
On this episode my guest is Ian Ippolito is the founder of vWorker.com (recently acquired by Freelancer.com) and is a highly successful serial entrepreneur. Would you like to learn what goes into creating a website that does over $11 million a year? Do you ever wonder how such a business attracts so many customers? To hear the story behind vWorker.com, I interview company founder, Ian Ippolito in this episode of the Bright Ideas podcast..While at the helm of vWorker, the company was called “One of the 100 smartest, most innovative, hands-down brilliant companies on our radar” by Entrepreneur Magazine. vWorker was ranked as an Inc 5000 company for four consecutive years, and has done over $139 million in business. Thank you so much for listening! Please subscribe rate and review on your favorite podcast listening app. To get to the show notes for today's episode, go to https://brightideas.co/xxx...and if you have any questions for me, you can leave me a voicemail at brightideas.co/asktrent
Ian Ippolito started vWorker as a small business out of an extra room in his house. Today it has 15 employees and did $11.1 million in revenue last year. Talks about his views on making money on the web. Here's a little more about vWorker: vWorker connects 178,000 businesses to remote workers in hundreds of fields (such as programmers, designers and writers). It saves them 36%-80% over traditional hiring and also protects them better with monitoring of worker desktops and a money-back guarantee. It also allows over 350,000 people to work from home, choose what they work on and set their own hours. Entrepreneur magazine called vWorker "one of the 100 most brilliant companies on our radar'. It is a four time consecutive winner of the Inc. 5000 "fastest growing private company in the U.S." award. It has also been featured on CBS and FOX news, the Wall Street Journal, Business Week, Fast-Company and many other broadcasts, publications and journals. Visit them at http://www.vworker.com/. Join us on Facebook or at www.increasemysmallbusiness.com where we talk about small business issues and tips, from small business mentors, coaches and small business owners.