Capitalism.com with Ryan Daniel Moran Why I Cut a 5-Figure Check to Help My Student Realize Her Dream (And Mine)
Full show notes at http://freedomfastlane.com/ You’ve grown your business to seven-figures. What do you do now?
Having difficulties figuring out how to grow further?
Ryan’s answer is to double-down on your strongest skill. And he applies that throughout his work. His strongest skill is in scaling companies that sell physical products.
So Ryan is continuously looking for ways to apply that skillset. And he recently did this with one of his students, Hanny Sunarto, who faced the question that you might be asking yourself now:
How do I grow my business beyond where it is now?
Well, Hanny’s doing it by doubling-down on her engineering skills, with the help of Ryan.
Hanny’s company is NeatPack, which sells travel bags, like backpacks and diaper bags. She has an engineering background and has crafted great, durable products. She’s looking to scale up.
So she and Ryan worked out a deal. Ryan’s investing $85,000.00 into NeatPack for a percentage of the company, and has also agreed to provide ongoing advice, particularly around marketing, to help scale further.
Hanny is a great engineer, there’s no doubt about that. Her bags make great travel solutions. But she admits that she does not have marketing expertise. And scaling beyond seven-figures requires marketing expertise.
So Ryan provides his strength in marketing, freeing Hanny up to spend more time doing what she does best: making some excellent travel bags.
If you’re having difficulty scaling your company, figure out what you do best, and put your energy into that. Get other people who are excellent at other things in the business world to help you with that.
You may be surprised at how successful you might become.
Key takeaways:
- Once you hit seven-figures, you can look to scaling your company
- Double-down on your strongest skill
- Get outside help so you can focus on what you do best
Check out Hanny’s business at http://www.neatpackbags.com/.
Connect with Ryan
Find more amazing podcast discussions on FreedomFastLane.com.