How Alaric Ong Global Reached 1,400 Paid Coaching Clients with a One-Time Fee Model (Interview with Founder Alaric Ong)

Introduction and Guest Background

Nathan Latka

00:00Hello, everyone. My guest today is Alaric Ong.

Alaric Ong

00:01>> He's

Nathan Latka

00:02got done five different businesses before, of which three of them started with zero capital and went on to generate 6 figures within a few short months. One of them went on to generate 7 figures within sixteen months. Currently, he's the founder of the largest Facebook marketing community in Singapore with over 1,400 paid students. He's also been featured in Fox, Market Watch, and Digital Journal for interviewing 6, 7, 8, and 9 figure entrepreneurs like Marcos Mora, who runs Amado

00:24franchise, 120,000,000 a year business, Grant Cardone, JT Fox, and George Ross. So, Alaric, you're ready to take us to the top? Yeah, sounds good, man. All right, so it sounds like you're just, you're a hustler and you also have a coaching business now today. So tell me about the first business you built. When did you launch it? What year?

First Business: Healthy Food Delivery in Singapore

Alaric Ong

00:40>> So in 2016, I launched a healthy food delivery business.

00:45>> Basically, I served the largest bank in Singapore called DBS. Singapore Yeah, so this bank has about 10,300 employees and we serve healthy food in bento boxes for them.

Nathan Latka

00:59Okay. And how did they 2016, how much money did you make doing that business?

Alaric Ong

01:04>> Okay. So like when we just sued a deal with DBS, like in my whole business career, I've never had a sales and marketing problem. It always is an operations problem for me. So the moment I stood at the deal with them, it was a really good deal. It's just that my operations failed within like four days. So what I learnt, so here's what happened. So on the first day we had like 70 orders, second day we

01:26>> had about 90 orders. That would have been a run rate of about 30,000 monthly recurring revenue, just from one bank. And we haven't scaled to different banks yet. So there's like Maybank in Singapore, HSBC, UOB, etc. But the reason why it didn't take off is because on the first day, I called everyone to come. So it's a healthy delivery business. They have like 50 floors. This bank had 50 floors. There's no way my operations service all

01:57>> 50 floors. So we will ask everyone to come to our collection point. So when I called everyone one by one, had 70 orders, by the time I called the last, the seventieth order, it was like one and a half hours after lunch timing. So everyone started complaining because they were receiving their food like one and a half hours later. So I wrote a lot of emails, apologised to them and said, Hey, so sorry.

02:18>> Second day, I decided to SMS them instead. So I sent a text message to them, so it's faster. But on the second day, because our delivery operations, we outsource that because we are a startup. So we don't have the money to buy a lorry. We don't have the money to buy a truck and everything.

Nathan Latka

02:36Alaric, sorry. Just to get

02:37it because this is a short show, we want to try and get as much as possible. So some quick stuff here just to get context. How old were you in 2016?

Alaric Ong

02:44>> I was 19 years old in 2016. Okay.

Nathan Latka

02:46And how much of your own capital do you put in this business to get it started?

Alaric Ong

02:50>> My partner put in $9,000 So we wanted to raise a 100,000, but we realized that we didn't need that much money.

Nathan Latka

02:58Couldn't Okay. So so you didn't put you didn't put in any. You you're part of putting 9 k. How did you guys split equity?

Alaric Ong

03:04>> It was like a I I owned 30%. My partner owned 40%. His no. My partner owned 40 percent. Her brother owned 30%, and we had another forty, thirty, 30, yeah, forty, thirty, 30.

Nathan Latka

03:19That's 100%. Okay, got it. So you own 30% of that business, didn't put any capital on. You're 19 years old. You drive sales, but then you can't keep up operations. So what happened? When did you shut the business down?

Alaric Ong

03:30>> So after that, the main reason why the business didn't take off is because the the main reason why the the business didn't take off was because of the equity split. Right? Yeah, so the business didn't work because of equity split because one of my partners, he had to go for national service and so he couldn't contribute to the business anymore. So when I wanted to buy out, I wanted to like, you know, re split the equity,

03:53>> He didn't want to give up his equity even though he couldn't contribute to the business anymore. So that's why the business didn't take off.

Nathan Latka

04:00Now When did you shut the business down?

Alaric Ong

04:04>> Like six months into starting the business, yeah.

Nathan Latka

04:06Okay, got it. So shut down in 2016, that same year. Talk to me about the next business you worked on.

Network Marketing Sales Team of 140 Members

Alaric Ong

04:12>> So after I ran a sales team, right? So I built a sales team of 140 members. I sold all kinds of stuff like tailor made shirts, poly sets, personal development courses, health products, etc. What

Nathan Latka

04:25sales team was this company built for?

Alaric Ong

04:27>> This company is a network marketing company. So I joined a network marketing company and we built a sales team for the company. It's called International Entrepreneurs Platform. Yeah. It's a Singaporean company.

Nathan Latka

04:38Okay. And and did you have equity there or was it just like a job basically?

Alaric Ong

04:44>> I'm a like, it's like a like, I didn't have equity in the company, but you run it like a business like that. Yeah. So some people run it like a self employed, but if you run it, some people run it like a business owner.

Nathan Latka

04:55Yeah. So when you say you have 140 salespeople, what does that actually mean? Be specific.

Alaric Ong

05:01>> That means, okay, in our marketing, they call it downlines, right? So I have, I recruited 140 people within ten months.

Nathan Latka

05:07How much did they pay to sign up?

Alaric Ong

05:10>> So they paid from $400 to $13,000

Nathan Latka

05:13Okay, 400 to 13,000? Yeah. Okay, and how many of them actually ended up building a real business where they drove a sale to a consumer, not just downline sign ups, but a real sale to a consumer?

Alaric Ong

05:27>> At least, okay, so 140 is like cumulative, right? So let's say at least 20 of them sold. Yeah, at least 20 of them. Least So 20 to 30 of them,

Nathan Latka

05:39I mean, do you feel sort of bad signing up the other 120 making them pay $4.13 ks each and then they didn't end up selling any products themselves at all as a salesperson? That's your number one job.

Alaric Ong

05:51>> Not really because when they sign up, they get value from the products itself. So that's how I decide whether a network marketing model is ethical or not. It's based on whether if they don't recruit other people, do they still get value from the product itself? If they feel that How measure that? How do

Nathan Latka

06:09you measure if they get value from the product? What if they got a bunch of the product and then it's sitting in their kitchen right now and a kitchen cabinet that's never been opened in the past ten years?

Alaric Ong

06:16>> So let's say they get made to buy shirts, right? So if let's say they were to buy these made to buy shirts, even if they didn't have the opportunity to sell it, would they buy it? Or if they go for this personal development course based on the market rate, let's say they sign up maybe $1,400 for personal development course, are there personal development courses in the market that's about $1,400 The answer is yes. So, it means

06:38>> as a consumer, if they will get value, if it's a fair market value then that's how I define whether it's ethical or unethical network marketing model.

Nathan Latka

06:49The personal development course, mean, look, if you're trying to get into business and you want to learn entrepreneurship and you're signed up to an MLM company to learn, your number one thing is can you get customers? Can you sign people up? Of which only 20 of them signed up. So how can you argue that paying $1,400 to get in helps them in personal development when 120 of them never actually signed up their own customer? They never

07:07actually learned what it took to be an entrepreneur and drive their first sale.

Alaric Ong

07:10>> No, but it depends. Good question. I like discussing that with you, but it depends. So,

07:20>> let's say, okay, let's say they go and buy a shirt and they get a shirt. So, them getting the shirt is the value that they're getting it.

Nathan Latka

07:28No, it's not. It's if they wear the shirt and it keeps them warm during the day, not is the shirt sitting in their cabinet and never gets worn. And I buy But it very

Alaric Ong

07:37>> they wear the shirt, you know, as like they do wear the shirt. So if they're getting the value from the product itself, that's an ethical network marketing model.

Nathan Latka

07:46So what happened in this business? This was from what, 2017 to what year?

Alaric Ong

07:50>> So this was from the mid of twenty sixteen to the mid of twenty seventeen. Yeah.

Nathan Latka

07:55Okay. So if you signed up 140 people in your downline, it sounds like it was successful. Why did it only last a year?

Alaric Ong

08:01>> So the last year, like I just, the branding of the company wasn't very good because of the previous things that they did, right? And I didn't want to be associated with the branding. That's why I left the company.

Nathan Latka

08:13Okay, but you said you did analysis when you joined to make sure it was the best thing possible and it was ethical and everything else and then all of a sudden the branding stopped working?

Alaric Ong

08:21>> No, correct. So the business model for this current company is ethical, right? But because in the past, there were a lot of things where they didn't deliver their promise to the customers in the past few years before I joined, okay?

Nathan Latka

08:34That means it's not ethical.

Alaric Ong

08:36>> Yeah, okay. So that's the past. So it's like how to say like maybe if in the past it was not ethical, but right now they are doing something ethical and which I didn't have knowledge about the past, like I didn't have full knowledge about the past, then yeah, so the current

Nathan Latka

08:53business So it's model 2017, you're now 20 years old, You make some money selling 140 of your friends, dollars 400 plans into a network marketing company. You quit that in 2017, then what?

Sales and Marketing Agency Origins

Alaric Ong

09:05>> So after that, I started a sales and marketing agency. Yeah. So I helped hotels, property agents, insurance agents, network marketers. I helped people who generate sales through I help entrepreneurs who generate sales through Facebook ads and digital marketing.

Nathan Latka

09:20And how did you make money doing that? Did you take a percent of ad spend?

Alaric Ong

09:23>> I charged them a retainer fee. Yeah.

Nathan Latka

09:26Okay. How much was the fee?

Alaric Ong

09:27>> It's like pay like $2,000 a month, some pay like $1,000 a month. It really depends on the service. Yeah. I was making about 5,000 to $10,000 per month. 5 to 10 thousand per month?

Nathan Latka

09:40And and what was the name of the sales and marketing agency?

Alaric Ong

09:44>> It was called the Apple the Apple method. Yeah. It was called Apple method private limited. Yeah. The Apple method? Apple method. Private limited. Yeah. So was the Apollo method.

Nathan Latka

09:56Got it. Okay. So you did that between 2017 and then is that still running today or how long did you do that?

Alaric Ong

10:02>> It kind of still is running. Sometimes I still do done for you services for clients. So it kind of still is running to me.

Nathan Latka

10:08How much did you make last month from the Apollo method?

Alaric Ong

10:12>> About last month in terms of done for you services I made about maybe $20,000 Yeah.

Nathan Latka

10:17Okay. And who were some of your customers that paid you last month the $20,000 What did you do for them?

Alaric Ong

10:22>> Okay. So there was a client that paid 6.7 k who runs a tuition business in Myanmar. No, it's not a business, a preschool business in Myanmar. There's another training company that they pay 15% of profit

10:36>> 15% of revenue. They sell like emotional healing courses, spiritual courses and all that. I've got people who, okay, there's an insurance director, so they pay me 15% of what the agent makes. So let's say the agent makes 50 ks per year, I'll get 7.5 ks per year, something like that. Yeah.

Nathan Latka

10:55And is this what you're spending most of your time on today?

Current Focus: Coaching and Equity Stakes

Alaric Ong

10:59>> I spend that at my time is spent on debt and coaching. Yeah. And coaching the businesses that I own equity in.

Nathan Latka

11:07Okay, what are some of the companies that you own equity in?

Tuition Business Equity Stake and Revenue

Alaric Ong

11:09>> So right now I own a tuition business, right? So tuition in Singapore is a hot thing. It might not be in other countries but tuition is basically after people go to school, after kids go to school, they have extra classes on top of their school curriculum because the parents just don't trust the school system enough and they want supplementary lessons. So they pay like $50 per hour or $75 per hour to send their kids to those

11:34>> extra classes. Okay,

Nathan Latka

11:36got it. So you have a tuition business where people pay you $50 to $70

Alaric Ong

11:39>> I own 20% of our tuition business, yeah.

Nathan Latka

11:41Okay. And so how much revenue did that do last month?

Alaric Ong

11:46>> This business just started not long ago so it's still growing. Right now it's doing about $5,000 a month.

Nathan Latka

11:55Why don't you want Why to 100

Alaric Ong

11:57>> don't want to Because 100 this is someone else's business and she gives me equity in the business in exchange for advisory and like my connections and like my helpings helping her to grow this business. Before she was meeting me, was making about 2.5 k per month. Now she's making 5 to $7,000 a month.

Nathan Latka

12:15Okay. So do you think she's happy with her decision to give you 20%?

Alaric Ong

12:18>> Definitely. Yeah.

Nathan Latka

12:18Okay. What other companies do you own equity in?

Social Media Agency Stake and the Tuition Business Dividend Model

Alaric Ong

12:21>> I own equity in another social media marketing agency. And right now he runs a call center that has like doing that has like five people. Every day they set like every month they set thousands of appointments, a thousand appointments. And they're selling like government approved courses here.

Nathan Latka

12:42How much do you own of that business?

Alaric Ong

12:44>> So I own 20% of the business. And how do you plan

Nathan Latka

12:46to make money from your equity stake in that business?

Alaric Ong

12:49>> Okay. So so for one, I'm I've been receiving dividends from my businesses.

Nathan Latka

12:53How much last month did you receive in dividends from the social media marketing agency?

Alaric Ong

12:57>> Okay. So for the social media marketing agency, they are not very profitable. Okay? They did about maybe 30 to $50,000 in sales, but because they just Over what period

Nathan Latka

13:06of time?

Alaric Ong

13:08>> Over as in, like, when sorry.

Nathan Latka

13:1230 to $50,000 in sales when?

Alaric Ong

13:14>> A month. In a month. Like, last let's say last month. Yeah. The highest amount was about $70,000 and that that quarter, mean yeah. That quarter, then they paid out dividends. So not every, only when it's profitable that I get dividends for that quarter. So my plan is we just own equity in these businesses because I get paid like I get the dividends, To me, passive income is always more valuable than active income. It's not passive.

Nathan Latka

13:41It's not passive. In the first business, the same tuition business is 20%. You said the lady gave you 20% because she wants your help and advice to grow the business. That's not passive. Takes your time, energy and money. Same thing with the social media marketing agency.

Alaric Ong

13:52>> Correct, but eventually

13:56>> this will be passive.

Nathan Latka

13:57That's the bet you're making. It's a big bet, but that's the bet you're making.

Alaric Ong

14:01>> Correct, correct. Yeah.

Nathan Latka

14:02Yeah. If it doesn't happen, you end up sweating, working like crazy. The businesses stay unprofitable. You never see dividend checks and you spend all your time, energy and money making no money from these things.

Alaric Ong

14:11>> If it doesn't work out, okay, so first of all, I'll make it work out, okay? But if it doesn't work out, then I deserve not to get paid, right? Because if I did, I wasn't able to value the business then I deserve not to get paid. At the same time, once it works out, so let's say I own 20%, my game plan would be to sell small percentages of it. So, so far, Yeah. So I'll be

14:35>> selling small percentages of it to cash out. So I'll be left with maybe 10% of equity and I earn 10% of the dividends here.

Nathan Latka

14:43And who would you be selling these equity stakes to?

Alaric Ong

14:46>> So for me, I've got a network of like I've got 1,400 clients from my coaching business. So it's not hard for me to sell. I can just tell my students and say, Hey, I have a tuition business. Do you want to own 1% of my tuition business? 2% of my tuition business? 5% of tuition business? Just pay maybe $50,000 or something like that.

Nathan Latka

15:07It's doing $5,000 a month in total revenue. Why would they pay that amount of money for a business doing that amount the whole year in revenue?

Alaric Ong

15:14>> Okay. So this is where it gets interesting. So I have a very different model of raising funds. For this business, even when it was making 2.5 ks a month, I

15:25>> sold shares at a $600,000 value. Within three days, we raised $18,000 for 3% of the company. People say, But why will you raise at $600,000 valuation? That's a 20 times P/E. So my P. S. To investors was this. I said, Okay, my game plan is to run this business even though it's a sole proprietor, even though a right now it's a one man show. But I want to run it like as though it was a public

15:49>> listed company. So what do I mean by that? I told them this. Said, Okay, so if she's making 2,500 net profit per month, that's $30,000 a year. So I say I'm gonna sell you 1% for $6,000 Now when you own 1% for $6,000 that means if she makes 30 ks per year, you're gonna get dividends of

16:10>> $300 Now if you buy an investment, you get 5% dividends, means you invest 6 ks, you get $300 per year in dividends. That's completely passive income because they are investors.

16:23>> Is that a pretty good deal? 5% dividends. I'm not even including capital appreciation, just the dividends alone. Would that be a good deal for them? They say, Yeah, it's a pretty good deal. Because if they put in a bank or they put in a fixed deposit, it's less than 5%. On top of that, we haven't counted the capital appreciation. So if let's say she starts making 5 ks per month in profit, that's 60 ks per year,

16:44>> now their shares will be double because the next investor won't mind paying 12 ks to own the same 1% so that they can get $600 per year in dividends. So that's my pitch to them. Out of the three lessons we raised, it was 100% closing rate. Yeah.

17:01>> This might be Well,

Nathan Latka

17:02that just means you're good at fundraising. The best place to fundraise is to have real customers, right? So like, listen, you can raise money all day long at crazy high valuations but eventually the music stops and you've got to actually validate that valuation in the market. For example, publicly traded stocks since that's the comp that you wanted to use, if they ever change their dividend lower, their stock price gets nailed. It gets hit very hard. You

17:24just told me some of these businesses, sometimes there's dividends, sometimes there's not. It's certainly not predictable and they're doing very small amounts of revenue.

Alaric Ong

17:32>> So isn't that a bit

Nathan Latka

17:33of a dangerous thing you're getting into?

Alaric Ong

17:36>> So to me, look at it that, do I think that she will make it So when I pitched up at a 600 ks valuation, I just look at it as, do I think that she'll make at least 2.5 ks per month in net profit? So if would, then It's not worth $600,000.

Nathan Latka

17:51Making 2.5 of net profit is not a $600,000 business. Don't care how you get the math. Listening right now, if you take 2.5 per month times ten months, right? So it's called $30,000 a year in revenue or in profit that is not worth $600,000 as a business.

Alaric Ong

18:05>> So how much do you think it's worth?

Nathan Latka

18:08Well, it's not worth $600,000 Of the market, anything is worth what you can convince the market to convince it to be worth. So the fact that you convince people that it's worth 600 ks is fine. But my point is the music stops at some point. If you don't tell a story, it stops.

Alaric Ong

18:21>> When does the music stop? You stop paying

Nathan Latka

18:25dividends and you just told me that two of these businesses have not paid you personally dividends and you're a big owner, right? So you have to stick to one of the stories here either you're paying dividends and you're guaranteeing them or there's no dividends.

Alaric Ong

18:37>> Okay, so

18:40>> far she has been consistently paying and even more than the dividends that what and even I'm saying even at a current level, even if when she was making 2.5 ks a month, now she's making more. But even when she was making 2.5 ks per month,

18:58>> they will be happy with getting five like they will be happy with the dividends that they receive. So if they invest $6,000 they get $300 a year, they are happy with their dividends. So, and I tell them upfront, I tell them that, Hey, if you get these kind dividends, are you okay with that? They say, Yeah, I'll be pretty happy with $300 per year dividend because it's passive income, right?

19:19>> That was the model. Like, yeah, so it's different from how and like you said, the value is based on what the market decides, right?

Nathan Latka

19:26Yeah, Alaric, but you can control that because you're a good sales guy. That's my point. You are basically a great sales guy. I mean, you're selling me. You're trying to, I mean, you talk for five minutes and you sell me on an idea. You're a great salesman. Your background picture here on Zoom is you in front of a massive audience. You understand soft power. You're very good at sales, So right? It surprise me that you can

19:45convince your best friends who have money to give you money at a $600,000 valuation. That's not what I'm hitting on here. What I'm trying to understand is how did you actually grow the actual value of this business where the dividends can be consistent, they can be guaranteed and you do grow revenue higher than five grand a month in revenue. Mean, we're talking like peanuts here. This is nothing.

Alaric Ong

20:02>> Yeah. So this is why, so this is how structured a deal. The cool thing is that this founder, she owns let's say 60% she owns about 70% of her business. You're talking about the

Nathan Latka

20:16tuition business or the social media marketing Tuition business.

Alaric Ong

20:18>> Let's just talk about tuition business, right? So she doesn't get paid until she doesn't get paid a salary. The money that she makes is based on the dividend she pays out. So she decides how much the dividends she wants to pay out but she doesn't pay out any dividends then she herself won't have money. That's why it will motivate her to pay out more dividends if she wants more money and motivate her to

Nathan Latka

20:39Alaric, what that means is if the business doesn't grow, she quits because she can't feed her kids because she has no salary. That's like a publicly traded CEO saying, we're not making you and giving you any salary unless you pay out dividends. So guess what? Quit and they leave and you lose talent if you don't pay out the dividend. Correct. How So is that cool? That's not cool.

Alaric Ong

20:55>> But in our agreement, I made it this way. We made it this way and we agreed on it this way, which we agree is fair. Is that if let's say she leaves this business and she starts another business, then what's gonna happen is that she will have to split that business based on the same shareholdings. So for example, let's say she closes down a speechless business and she opens a bakery baking shop or something, whatever

21:19>> profit from the baking shop she will still pay the dividends based on that. Yeah.

Coaching Business: 1,400 Clients and Pricing

Nathan Latka

21:23Okay. I think this is a terrible business model, but I'll let the audience listening decide. Let's talk about your coaching business. You have 1,400 folks that pay you on a coaching basis. What are they paying you to coach them on?

Alaric Ong

21:34>> To coach them on sales, marketing and branding. So like Facebook.

Nathan Latka

21:37Okay, so what are the 1,400 people paid you?

Alaric Ong

21:41>> So $500 to $5,000 Okay,

Nathan Latka

21:46and is it a one time thing or is it recurring?

Alaric Ong

21:48>> One time, one time. Yeah.

Nathan Latka

21:50Okay, got it. And when did you launch this? When was your first customer?

Coaching Business Launch Date and History

Alaric Ong

21:53>> I launched this in 2018, around June. Around July 2018, yeah.

Nathan Latka

22:00Okay, you would have been what? '22

Alaric Ong

22:02>> at '22

Nathan Latka

22:04when I did that, yeah. Okay. Got it. So you launched in 2018. You've got 1,400 people that have paid $500. So what? You've done $700,000 in sales at least through that, the coaching business?

Alaric Ong

22:13>> I've done about $1,200,000 in the first eighteen months. Yeah.

Nathan Latka

22:17Yep. Okay. And how much do you think you'll do this year total?

Plans for Business Acquisition and Future Growth

Alaric Ong

22:21>> This year? Yep. Okay. So this year my plans are to focus on acquiring more businesses rather than like I still do coaching. Like I still earn income from coaching and everything. But my main plan on why do coaching so that I can find more businesses to acquire.

Nathan Latka

22:40Why go talking about the investors you've given dividends to in the tuition business earlier, why go sell someone 3% for $18,000 when you made 1,700,000 in sales over the past eighteen months? Why do you need to go waste your time, energy and money convincing someone to give you $18,000? Why wouldn't you keep that equity for yourself and take dividends yourself?

Alaric Ong

23:02>> Because us raising the funds at that valuation makes that creates the valuation of the company. How to say? Because if let's say I tell you that this company is worth $600,000 that's based on what I tell you, right? But if I was able to get three people to say that yes, this company was worth $600,000 and they actually voted with their pockets, then that validates the idea that valuation No, of this

Nathan Latka

23:29is it doesn't validate any idea. Raising capital does not validate an idea. It means you're good salesman.

Alaric Ong

23:32>> So it doesn't validate the idea but it validates the market. It validates

Nathan Latka

23:39It validates nothing except that you're a good salesperson. That's all it validates is that you found three suckers to overvalue business and put in 18 thousand dollars

Alaric Ong

23:47>> I don't think they're suckers because they did get the dividends. They did get paid and they will They get dividends.

Nathan Latka

23:54Don't get dividends. If there's no profit, they don't get dividends. You get dividends you're a 20% owner.

Alaric Ong

24:00>> Yeah. So if they do get profit, it has been profitable for the last one year at least.

Nathan Latka

24:08You just told me you didn't get dividends personally as a 20% owner.

Alaric Ong

24:10>> Well that's a social media marketing agency but for the tuition business, everyone got their dividends.

Nathan Latka

24:15Okay so it's doing $5,000 a month total top line revenue and everyone got dividends. Okay great. It's still not worth $600,000 Okay but anyway so

Alaric Ong

24:25>> and I like that disagree with me. I like that you know and and I I

Nathan Latka

24:31just want you to acknowledge that you love selling. You get a dopamine hit and you go post in your coaching group when you say our company just passed a $600,000 valuation and we brought in three new investors. That turns you on. You get so excited from that and that's why you do it. That's the only reason you do it. It's not validating the business idea. It's doing nothing else except turning you on.

Alaric Ong

24:56>> Okay, if you want to put it that way, but it's more of like helping her to have a business as well $600,000 not so much just for me. I mean But she

Nathan Latka

25:04can't pay herself even a salary much less get equity value and evaluation. She can't even pay herself a freaking salary to live on if she's not paying out dividends. It's not a good business for her

Alaric Ong

25:13>> to that's cause of the bail dividends. Which is why I'm testing this model because I agree because I feel that a lot of ideas in the market like a lot of ideas will be controversial. Until when it is successful then other people start copying that idea. Yeah. Okay. To be honest I'm not sure

Nathan Latka

25:29of I'm not of putting somebody on the moon. It's a tuition business. We know it works. There's hundreds of tuition business.

Alaric Ong

25:35>> Correct. No one runs a tuition business this way. Like no one raises funds for tuition business this way. You know what? It's not about the tuition business. What I'm trying to see is does this play out? Is it win win win for everyone? And so far,

25:48>> has been win win win. So I'm thinking, okay, so can I scale this to can I apply the same principles, the same valuation model and everything for bigger business? So, that's my game plan. It's to see if this works and if this works at a small level. Because if it doesn't work at a small level, it's okay. I can pay like $18,000 The $18,000 is spent to the company by the way. It didn't go to me.

26:09>> So it's okay. I can figure out how to help this company pay back the money and all that. So I just want to see whether this model works and if it works then I will scale that for 50 ks per month business which there is and I will scale it to a few 100 ks a month business. It's the same, like if you work small, it will be. If it feels small, it will feel big.

Nathan Latka

26:30It sounds like your biggest ability to generate wealth for yourself is to sell more coaching products. Nothing else that you've done. The food delivery business that you shut down after six months, the sales team and the network marketing company that you did for under twelve months after signing up 140 friends for $400 a pop, only of which 20 of them actually sold products. The tuition business now doing $5,000 a month, the Apollo method, which where you're

26:53making $5,000 to $10,000 a month on. None of those even come close to matching the sales you've done in your coaching business. So why don't you just double down on coaching business and and grow that to a $10,000,000 business?

Alaric Ong

27:04>> I could. Yeah. Which yeah. Which I am planning to do.

Nathan Latka

27:08Yeah. We'll see what happens. Alaric, appreciate your time. Thanks for taking us to the top.

Alaric Ong

27:12>> Thank thank you. And I and I and I this discussion. Where can

Nathan Latka

27:17people find you online? What's your link? Where can people learn more about you?

Where to Find Alaric Online

Alaric Ong

27:20>> Just search alaricong. You can find me on Facebook alaricong. You can find me on Instagram alaricongg. And my website is www.alaricong.com.

Nathan Latka

27:30Nice, very

Alaric Ong

27:30>> happy you on Nathan, and I appreciate that.

Nathan Latka

27:34Alright, Cut in studio.

27:37One more thing before you go. We have a brand new show every Thursday at 1PM central. It's called Shark Tank for SaaS. We call it deal or bust. One founder comes on, three hungry buyers, they try and do a deal live, and the founder shares back end dashboards, their expenses, their revenue, ARPU, CAC, LTV, you name it, they share it. And the buyers try and make a deal live. It is fun to watch every Thursday, 1PM

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