Ryan Moran is the founder of Capitalism.com, where he has helped over 100 entrepreneurs make their first $1 million online. He is best known for turning a $600 investment into a $15 million exit, and his podcasts and videos have been downloaded over 10 million times. He lives in Austin, TX where he loves to debate politics and religion.
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Guest Resources
Capitalism – We help entrepreneurs build 7-figure businesses they can sell.
Impact Investing Through Entrepreneurs – Create Positive Change While Growing Your Wealth By Partnering With Emerging Entrepreneurs.
Ryan’s Playbook – Download Ryan’s process of how to make million dollar business and prepare for exit.
3 Value Bombs
1) Money does not equal freedom. It gives us choices but it doesn’t gives us freedom.
2) Building audience and loyal relationship with your customers is the thing that will drive the long term brand position and ultimately, your highest enterprise value.
3) Entrepreneurship starts as a selfish journey. The faster entrepreneurs shift their thinking about “what product to sell” to “who is the customer that I want to serve” or “what I get out of it” to “what will other people get to what I am creating”, will get them more customers, grow more faster and build a more valuable company.
Sponsors
HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!
ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!
Vanta: Helps SaaS businesses of all sizes manage risk and prove security in real time. Vanta has a special offer waiting for you of $1,000 off at Vanta.com/fire!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: 12 Months To $1 Million – Turning $600 into $16 Million
[1:42] – Ryan shares something that he believes about becoming successful that most people disagree with.
- Most entrepreneurs start their entrepreneurial journey thinking if they have more money they have more freedom but money does not equal freedom. Money gives us choices but it doesn’t gives us freedom.
[3:22] – Ryan shares how realistic is it for someone to build a million dollar business within twelve months.
- Its not realistic for most people because they give up in 3-6 months but if you have a longer time horizon of at least a year then it is possible.
- He breaks down the process by giving an example of investing a $500 per month in S&P Index 500 that will compound to a million dollars in 30 years.
- Most entrepreneurs don’t want to wait because they want faster results but if they allow things to continue and compound in time, just like in the stock market, a million dollar business is realistic in 12 months.
[5:20] – Ryan tells what exactly is a million dollar business .
- He specialized in ecommerce brands that are selling physical stuff, for example Amazon and he thinks it is the simplest way to build a million dollar business.
- His main idea is to sell 4 products with a 25 sales per day at $30 price points which will become a million dollar in a year.
- The path to get there is to create systems and processes that will allow the first product to get 25 sales per day and once that is achieved, he can start to release the second product.
- He compared the first 3-6 months to be like building a highway which takes a tremendous amount of time and resources just to get one car on the road similar to getting the 25 sales per day but once it is in place, he can release additional products at $30 price point resulting to having a million dollar business.
[7:25] – Ryan talks about the range of actual profit on $30 sale.
- The profit margins in a typical ecommerce brand is 35-55% less the Amazon fees and advertising fees.
- His advice is to launch the premium product first rather than the cheapest product to stick with the 50-60% profit margin which will give enough room to run the rest of the playbook.
[8:57] – Ryan speaks about the current state of the ecommerce landscape and Amazon being saturated.
- Amazon is super saturated if you are running the old playbook of how most people put a product and working their way into having enough conversion and exposure where the organic and free traffic would pay their expenses.
- For him, this model is out of date and the new way to be able to make Amazon your partner and break into the space is to first generate the demand for the product. To do this, you need to build a small audience first and pre- launch your product.
[13:38] – A timeout to thank our sponsors!
- HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!
- ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!
- Vanta: Helps SaaS businesses of all sizes manage risk and prove security in real time. Vanta has a special offer waiting for you of $1,000 off at Vanta.com/fire!
[16:39] – Ryan tells about the process of selling a company.
- He was an entrepreneur for 12 years before he went selling for physical products. He realized that building an enterprise value that you could sell is way important than cash flow.
- There are always people who want to buy business and are looking for good profitable business to buy.
- His focus now is to build quality companies to sell.
[20:50] – Ryan shares what are the KPI’s to focus for big potential cheques.
- Profit per year and growth rate.
- Other factor that is usually missed but is very important to know is the target customers and your audience.
- Building audience and loyal relationship with your customers is the thing that will drive the long term brand position and ultimately, your highest enterprise value.
[24:48] – Ryan gives his one value bomb.
- Entrepreneurship starts as a selfish journey. Most entrepreneurs get into it because they want a better life for them and their family and they want to have freedom. But the faster they can shift their thinking about “what product to sell” to “who is the customer that I want to serve” or “what I get out of it” to “what will other people get to what I am creating”, they will get more customers, grow more faster and build a more valuable company.
[26:09] – Ryan’s call to action.
- Capitalism – We help entrepreneurs build 7-figure businesses they can sell.
- Impact Investing Through Entrepreneurs – Create Positive Change While Growing Your Wealth By Partnering With Emerging Entrepreneurs.
- 12 Months To $1 Million –
- Ryan’s Playbook – Download Ryan’s process of how to make million dollar business and prepare for exit.
[28:51] – Thank you to our Sponsors!
- HubSpot: Grow better, faster with HubSpot’s all-in-one intuitive customer platform. Visit HubSpot.com to learn more!
- ThriveTime Show: Attend the world’s highest rated and most reviewed business growth workshop taught personally by Clay Clark & football great Tim Tebow at ThriveTimeShow.com/eofire!
- Vanta: Helps SaaS businesses of all sizes manage risk and prove security in real time. Vanta has a special offer waiting for you of $1,000 off at Vanta.com/fire!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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