Capitalism.com with Ryan Daniel Moran

In today’s episode, Jeff Lieber from TurnkeyProduct Management shares one of the most inexpensive ways to drive traffic on the Internet he has seen in the past few years.   Want to put your Amazon-sanctioned giveaway on steroids? Tune in for Jeff’s tips.   *If any of the steps seem obscure, Turnkey has got you covered with a super detailed 5 page SOP — free! — that walks you through every single one of the actions required!   Key Takeaways [2:20] Jeff shares some serious numbers on a giveaway campaign he ran with a client — 1k investment over 2 months: - 9.5k trackable revenue - 176 000 views on YouTube - 23 000 web page visits *Update: supplements are now allowed to do this as well! Where? [4:48] type the word giveaways in the Amazon search bar! How? [6:04] you can use your own product and you can even add related complementary product from other brands — you sell toothbrushes? You can add a tube of Crest toothpaste for some extra marketing value! - Go to your product page - Click the set up Amazon giveaway link at the bottom - Enter the amount of product to give away - Enter the company info and image - Select lucky number instant win - Select the steps to enter (like a YouTube video!) - Offer a discount code to entrance - Select public - Check out and purchase your own products! Steroids! [12:00] YouTube is linked to Google Ads and you can set up retargeting ads for all of the people who watched your video during the “Steps to enter” process of the giveaway. Note [12:40] If you don’t have or don’t know how to set up a Google Ads account or have a Google Adwords Pixel ID, it is highly recommended that you do that first, even if you’re not ready to run ads, it will gather data for you in the background until you are ready to use it — the same goes for Facebook! Extra steroids tip #1 [14:02] make the first 15 seconds of your video count: the customer only has to watch that long in order to enter the giveaway. Extra steroids tip #2 [14:37] YouTube annotations are super effective popups to redirect your potential customers wherever you want — if that’s your website, don’t forget your Facebook pixel! [17:03] Recap! 1. Enter an Amazon profitable giveaway strategy 2. Take advantage of the free traffic 3. Rake in the profits and build a trackable audience! Thanks for listening! Mentioned in this episode PlayBook for Amazon podcast Capitalism.com/Amazonclass Max@brandbuilderstrategy.com

Today, Ryan talks with Johnathan Troutman and Nathan Scherotter respectively the CEO, COO and Co-Founders of Empathy Wines — which was the logical interview to follow the Gary Vaynerchuk discussion!   Ever wonder how they launched and scaled their business so fast? Nate and John detail their history with Gary and the plan to take this venture to the next level.   Key takeaways [4:34] Ryan introduces Nate and John from Empathy Wines and asks them about how the company started and how they decided to go all in with Gary Vaynerchuk.   [10:13] Sometimes that entrepreneurial itch gets lost — even in a company that has a huge entrepreneurial vibe — Nate explains that for him, it was when he realised he had been going through the motions.   [12:27] Ramping up Empathy Wines may have seemed like it came together over the course of one or two months, however they had been working full time for 9 months before launch.   Even though they seem like a big company, they are currently only a 4 person gig.   Some benefits translate from having Gary Vaynerchuk as the face of the company, namely shared office space at Vaynermedia as well as Gary’s network and resources.   [16:25] The brand is being built in parallel to Gary so as to let him do what he does best — marketing and sales — but also in such a way as to not be dependent on him: it should transcend him in the future.   Wine is a very experiential product and people want to try it before they commit. Gary’s audience and credibility was hugely important in the initial stages and provided great feedback and content.   [20:04] So if Gary was the spark, what is the plan for fueling the fire? Marketing remains the main aspect to work on, and acquiring new customers through Facebook and Instagram is the goal.   The past three months have been spent strategizing the who, what, when, where and how of the people and vendors they should work with to put this marketing plan into action.   because they had little cost-for-acquisition to launch, they are hoping to dump a whole tank of gasoline on the Empathy Wine marketing fire.   [23:47] Nate and John detail what the current hiring strategy is, and it all begins within Vaynermedia walls — these strategic hires will eventually add their own spin on what kind of marketing thesis rolls out for Empathy Wines. As it stands, they are investing in people.   [28:42] John explains the chain of command at Empathy Wines and For the record, titles are more for paperwork For the first time Gary has been hands off and trying to empower Johna and Nate to make all of the day to day decisionmaking i the business. That’s not to say they won’t be using Gary’s experience in the wine world and his venture capital investing in the company.   There was a recent meeting during which Nate, John and Gary details in which cases Gary would serve as a bottleneck. 1. Generating business opportunities 2. Sales 3. Software 4. Team structure 5. PR Outside of that, John and Nate will be running the show. [37:04] Having been friends for 10 years, how do you protect the friendship when entering a business venture together? John and Nate share their story. But ultimately the cliché is true: communicate. [39:20] The work Empathy Wines has done to differentiate from other wine companies is enormous and it began with John and Nate asking themselves: How do we overdeliver for the money the customer is paying? [41:35] Time to market for wine is super long, John and Nate detail some of the hurdles they’ve jumped and how they. Prepare themselves for the coming ones. Thanks for listening! Mentioned in this episode 8 figure exits: Capitalism.com/8

How would your business be different if you weren’t thinking about what you can get out of it but rather what you can create?   Ryan explains how that subtle shift can multiply your returns!   Key Takeaways [1:27] Frame the question differently! [2:50] The universe rewards creators a lot more than it does selfish gains. [3:18] Ryan has gotten really good at helping materialise creativity — no one can materialise money for you though. [3:43] The paradox: we expect to be the best at everything and be better than everyone, but we need each other in order to be the best at anything! [4:38] When you come together you compound your skills and compound the results — it’s what all business relationships should be. [5:33] Find people you like to do something you think matters, if not then what’s the point!?   Mentioned in this episode 8-figures workshop events: Capitalism.com/8   Tweetables “It could all go belly up, but at least you did something that you felt was meaningful with people that you liked!” — Ryan Daniel Moran

Why do entrepreneurs have such a hard time stepping back from work? Why do we continually engage in behaviors that are exhausting us?   Ryan welcomes Dr. Loretta Breuning on the show for a deep dive into neurochemistry and how you can harness it’s potential to create a happier life for yourself.   Key Takeaways [3:21] Ryan welcomes Dr. Loretta Breuning to the podcast and launches the discussion with a summary of his understanding of brain chemicals.   [5:00] Dr. Loretta offers up her caveats to Ryan’s interpretation: all chemicals have both a good and bad side.   Dopamine is a motivator and a distractor — It will reward you for any behavior it perceives will make you survive. In between survival behaviors dopamine is not necessary or wanted!   Oxytocin is often called the love chemical but really it’s about trust. But herd behavior can be negative so humans oscillate between herd mentality and individual pursuits.   Serotonin is the chemical that gives you a good feeling when you feel like you measure up to your peers.   [8:50] Dr. Loretta unpacks Ryan’s gigantic question: the expectation that we can have a peak positive moment at all times is unrealistic.   It’s important to learn what we understand our brain chemicals do in order to fully grasp the natural rhythm of ups and downs and stimulate our brains in a healthy way.   The advice she gives to people is first: read the books! Ultimately, there is no external fix, you need to take responsibility.   [13:40] Does the understanding of these chemical relationships affect how Dr. Loretta consciously makes decisions? The short answer is yes.   However we all are born helpless and need to please others to ensure our survival, what happens during periods of vulnerability and peak neuroplasticity (up to adolescence) will shape the chemical messages we receive from diverging or going with the herd.   The key is then to begin to see these behaviors for what they are and beginning to retrain your neural pathways.   [17:20] Ryan shares a very personal and vulnerable story and uses it as a case study to explain how his own trust mechanisms were stunted at a moment when he was relying heavily on the herd.   [20:39] With time we develop a tolerance for the chemicals we produce and unless something prevents you from repeating the behaviors that generate dopamine, most of us will keep questing after the same reward. What can we do about that?   This is where you can use Serotonin! If you are trying to merge away from one behavior, use your need to measure up to your peers to drive forward a new goal and take pride in a new goal.   [25:58] Cultural trends are often a Serotonin pitfall where people become obsessive about measuring up to their peers and social media is an enormous driver for this.   [28:43] Are there ways through diet, exercise, lifestyle to train the way to produce more of these chemicals? Can the body eve produce more of these chemicals?   These chemicals are produced from fat — don’t cut it all out! Sunlight is also a multiplier.   Diversification is key: if you only have one reward mechanism (junk food - good feeling - bad feeling - junk food) you will be stuck in a loop, when the bad feeling occurs, you need to have an arsenal of strategies to divert it. You also need to dig into the root of the bad feeling and address it independently to free yourself of it.   [34:45] SSRIs are popular — Serotonin reuptake inhibitors prevent the reassimilation of Serotonin by your system thereby increasing its bioavailability; MDMA is being investigated also but has been linked with disruption of endogenous neurotransmitter systems; Psilocybin and other psychedelics seem to be promising in the treatment of mood disorders and Serotonin precursor supplements are also all the rage. What is Dr. Loretta’s stance on external supplementation?   Loretta thinks anything external you add into your system will be less effective in the long run than controlling your thought process.   Braingasm [38:38] the minute we rest, we are pausing the pathways preventing them from chasing after the next high thereby creating a lull during which: 1. Our system perceives a threat to its survival 2. Is paradoxically the place where we can examine our programmed responses and chose to design the next pathways. [41:43] If and when we get the room to rest, what do we do to reprogram ourselves? A new project is always good — make it different (it will be less rewarding at first, stick with it) do it in small steps, design the steps carefully so you can repeat those steps every day. Dr. Loretta Breuning’s second book The Science of Positivity: Stop Negative Thought Patterns By Changing Your Brain Chemistry details that process. [47:10] Ryan thanks Dr. Loretta for coming on the show and invites listeners to follow her work at InnerMammalInstitute.org. Thanks for listening! Mentioned in this episode Habits of a Happy Brain: Retrain Your Brain to Boost Your Serotonin, Dopamine, Oxytocin, and Endorphin Levels, by Loretta Breuning The Science of Positivity: Stop Negative Thought Patterns By Changing Your Brain Chemistry, by Loretta Breuning Capitalism.com

Today’s episode is the Playbook for Amazon podcast! Jeff Lieber from Turnkey Product Management welcomes listeners to the show that is dedicated to helping you amp up your Amazon game.   TurnkeyProduct Management sells 8 figures per year on Amazon for it’s clients, if you’re looking for actionable tips, lessons and mistakes to avoid in your own business, you’ve come to the right place.   Key Takeaways [2:19] Jeff launches the podcast by sharing where he is from and how it led him to where he is today.   [4:48] Launching physical products on Amazon was one of the many business models Jeff studies, and the one he adopted — he began his online marketing career with pet products.   Mistake: Ordering 15k worth of pee pads — a full container of goods!   Lesson: If you are just launching a new product line, you can do test orders or air ship a couple of boxes.   [7:07] Jeff’s forays outside of the pet niches — hot fads which ended up fading…   Mistake: Not building a company or a customer list.   Lesson: Don’t chase trends, focus on your core business first.   [8:09] How did he decide to go all in?   Tim Ferris’ fear setting exercise for making big decisions: 1. Write down and flesh out what your biggest fear look like — what is the worst possible scenario. 2. Write down the best or even the average scenario. Decide if you are willing to live with the worst case and if the bst case is worth the risk! [12:04] From jumping into his own company to being asked by friends to help them establish their business on Amazon, Jeff explains how he began consulting and how Turnkey started (they’re still a client today!) Lesson: Sometimes the best businesses don’t start out as an idea to fill a niche but evolve from a natural need in the marketplace and often times from saying yes and being of service to someone else! [15:10] Once you have a little bit of success, be careful of shiny shiny distractions (often under the guise of income diversification). Mistake: launching too many companies! Lesson: it’s very very difficult to manage many companies! And they end up all growing at an equally crappy rate. Jeff Hoffman (PriceLine) once said: “I only did one thing at a time — don’t try to get a gold medal in 6 different events”. [16:43] Chose the one thing you like doing the most, for Jeff it was Turnkey — not pet products. Lesson: Do what you are most passionate about! And work with other people that are passionate and complementary to you, you will multiply returns. [22:00] Jeff will be digging into the lessons he learned and mistakes you can avoid while selling your business and when you need to hire, in coming episodes, tune in for some great tips and more! Thanks for listening! Mentioned in this episode PlayBook for Amazon podcast Capitalism.com/Amazonclass Max@brandbuilderstrategy.com

Carl Allen is a U.K. based business buyer specializing in leveraged buyouts (LBO). Over 26 years he has perfected a proprietary methodology for buying business without using any of his own money.   Today he shares how to find deals, what he looks for how he structures them so that the businesses he buys are not dependent on him, and how he sleeps with all of this overhead!   Key takeaways [1:47] Ryan is fascinated by this since it’s kind of his goal for the future: he is currently building the infrastructure for entrepreneurs to be able to launch brands within his sphere of influence.   What kind of businesses? [7:00] Carl became the leverage buyouts guy, which was an alternative to building his own business.   Sweet spot: businesses with revenue in the 1 to 5 mil range. Below that you will find that the owner and the business are the same! And above 5 you have a lot of competition.   Some sectors do better than others: IT, engineering, manufacturing, professional services, etc. but ultimately if you’re new to this, buy a business that you understand.   Seller psychology [12:38] Carl’s method looks for in a particular type of owner: highly motivated to leave the business — you can craft a more human deal, psychology is key!   Carl touches on a key aspect of the owner perspective: they want someone who is going to care for their loyal employees and customers, someone who will take the business to the next level but preserve the legacy   A classic LBO structure [13:36] A big part of the LBO strategy is that the sellers do want some money but it can be paid overtime with the business profits. Let’s posit a business with a million dollars in revenue and a couple thousand dollars in free cash flow.   5k to buy with the following structure: 200k at closing — which you finance through debt based financing, SPA or asset based lending — and 100k a year for 3 years off the profits.   Beware deal heat [16:40] Are there andy asset purchases that keep Carl up at night? Yes, but if you do If you do your due diligence and target the following traits in the businesses you buy, it should reduce that amount significantly: 1. Find businesses that do little to no marketing, so you can come in, do it and ramp up revenues! 2. Businesses older than 10 years tend to get bloated with overhead, you can take this off at the start. [19:19] Beware of deal heat! Go look at 20 deals, pick 4 or 5 you like best and play them off against each other. Always play the numbers game. Finding a deal [20:35] brokers are the usual first step for newbies, the problem with brokers is that they will generally overvalue the business to get a better fee. The real way Carl finds deals is with events, networking but also social media marketing! He explains why. First things first [26:04] Once the business is acquired, what do you do to increase cash flow? In the first 6-9 months: 1. Get a management team or a GM in the business 2. Look at the overhead base 3. Drive marketing (direct sales people) 4. Strategic joint ventures may come into play Choosing a GM [28:51] How do you choose those managers?! It’s integrated into the deal: the best place to find a GM is usually within the business: 1. Look for businesses with a solid number two and promote from within. 2. Find someone in your network. 3. In some cases the owner will stay on and GM for you, Carl explains how the type of owner you meet can dictate if this happens: people are good and love doing different things. (Set the founder free!!!) [34:00] How did Carl come to understand all this? He shares his journey from HP and buying big software companies, to leaving the corporate world and stumbling into his very emotional first ever buyout — around which his entire process was built. Work with people [39:55] Carl run an entire business that buys businesses, what is the infrastructure that controls infrastructure. The whole infrastructure is the due diligence and deal, Carl then relies on a strong CEO that he gets by way of a promoted number 2, the existing owner or someone from his network: Carl’s training and mentoring business was meant to generate partnered deal flow, working with people is the key to reducing the amount of work you have to do. [44:48] What does Carl look for in a deal and what should be avoided. Avoid: a cash out; B to C businesses typically doesn’t have a lot of asset; Amazon doesn’t give you control over the customer... Look for the deal making triad: 1. Deals that serve you in some way (do you like the sector, or is there a value add for another business you own?) 2. Always bet on seller psychology. 3. Will this work for an LBO and is there a strong number 2. [49:37] Ryan wants to buy the Cleveland Indians, what is Carl’s guiding light? And considering he does his deals with other people’s money, where does he put his own!? [53:20] Where do people find more of the Carl Allen sweet sauce? Carl has put together a 90 minute masterclass for Ryan’s tribe at:   ninjaacquisitions.com/capital Mentioned in this episode 8 figure exits: Capitalism.com/8

Ryan outlines 3 easy things you can do to ensure productivity when you work from home: because working from home means you never ever escape work?   Do you ever get lost in the sauce? If so, listen in to this quick episode.   Key Takeaways [1:21] Because working from home becomes your very personal work-prison, we tend to use little distractions to try to escape… Tidying, snacking, taking breaks, etc.   Here are three easy things you can do to ensure better productivity.   1. Plan [2:23] First thing in the morning, if nothing else, PUT YOUR PHONE AWAY and map out the most important thing for the coming day.   2. Workspace [4:04] it doesn’t need to be an office, it can be an area or a desk, just make it about work. Shut the world off.   3. Get out [5:44] Get the hell out. When we don’t have outside stimuli, our brains find problems to create.   Don’t let your own thoughts attack you. And don't let your brain make your house a negative space.   [7:55] If you work from home, you have a special set of challenges and opportunities. Live life on your own terms!   If you try these tips, share your comments below the video!   Mentioned in this episode 8-figures workshop events: Capitalism.com/8

Today, we talk to George Bryant, whose contribution to the Brand Builder Summit was viewed as the most impactful and helpful by the entrepreneurs in the audience. So without further ado, here is the go to guy that everyone goes to! The OZ behind the curtain: George “the middle name moniker” Byant. Side Note Wine with Wyan comes back in 2019 — subscribe on YouTube and Facebook!!! Key Takeaways [4:50] Ryan introduces the newly monikered: George “The OZ” Bryant!   [6:59] What does it ethical scaling look like on a tactical level? ● Paid media strategy ● Affiliate marketing strategy ● Massive amounts of influencer campaigns — building long term relationships ● Email marketing — George’s favorite: people just don’t know how to use it though! ● Organic traffic — his #1 play space: no, you didn’t miss the boat. ● Amazon strategy Basically, the tactics are all about figuring out all of the places where you can meet your customer. [7:46] Personally answering 11 000 DMs is something Goerge will still do. No matter how much you complicate it, or how many times it’s been done before, or what formula you’re using, business is business and at the core of it is a customer. That is the relationship that gets to be built: anything that doesn’t serve that isn’t necessary. That means that when you show up in a space, create content that your customers like and engage with, you have to meet them there: you need to respond and build that relationship. Devil’s advocate [12:22] Hank asks how this applies to his sock puppet company. People don’t buy from brands, they buy from people. Imagine if you take away the Internet and shoot back to brick and mortar companies... to be competitive you have to build those relationships. The better you do that, the more your customers self-identify, the higher your price-point can be, the more you can scale. It still applies in the digital world! [15:50] Do you need to find the balance between building a relationship and playing the numbers game? Considering 82% of marketing is done via word of mouth, you should only give people positive things to say about your brand. No means no, Hank, don’t shove your sock puppets in people’s throats — instead, hear their no and find the give: build the relationship make them like you even if they don’t buy from you! [24:27] Ryan always pictures “scaling” as a big thing, but George sees scale as a more micro endeavour: you can only scale one person at a time. When working with a brand, find one influencer and dial in their micro audience, you can then duplicate this process with multiple influencers, generating scale. [27:57] We tend to wait for the 10k or million fan influencer to shout us out, and we ignore the existing advocates of our brands: the 100 people with 10k fans who are already selling our products to all of their cousins! [28:38] The problem with influencer marketing is that everyone is trying to solve it with the same solution, not realising that each influencer is different and wants different things, but all are looking for mutually beneficial relationships. [31:00] Ethically scaling means focusing on the customers, and actually doing what you say you will do. If you build your business around mutually beneficial, long term, 2-way relationships, customers will follow you and your product will get legs. Only promise what you are willing to fulfill. And do what feels natural to you. [34:54] The transaction is nothing more than building a connection, the product is a bridge. There are 3 things people need to change anything in their life: 1. Permission: storytelling for self-identification 2. Safety: built through the touch points that build a relationship 3. Accountability: when they buy, do what you say you will [38:43] Sock-puppet-Hank wonders how to make the transition from what he used to do, to ethical scaling and relationship building? Ask the customers. Get to know them, visit their social, what are they saying about you? Mic Drop [44:46] If you try to build a tower on a faulty foundation it will crash every time. The foundation has to be a relationship with your customers that is not predicated on their credit card. [46:00] People can find George on Instagram @civilisedcaveman. Thanks for listening! Mentioned in this episode Capitalism.com

Getting your house in order.   For Ryan, 2018 was about physical health and mental health — dealing with burnout and overwhelm that all entrepreneurs deal with.   Today he shares the importance of figuring out, and getting back to the core of what you want in life.   Key Takeaways [1:28] Ryan has been guilty of following formulas for business success, not personal happiness, and of losing sight of what made him happy about his businesses in the first place.   [3:15] Doing things against your better nature becomes a painful grind.   Ryan has to work at becoming clear on what he wants from his business, and surrounding himself with people that enjoy and are talented at the things he is not.   [4:34] The Wealth Dynamics Proflies Test Ryan once did revealed he was a “Star” and an “Investor”. It turns out that was spot on, ever since childhood, Ryan has dreamed of performing, being on stage...   So for him, the thing to do now is more PR and talking about economics and politics… Communicating authentically.   [5:55] It’s scary, letting go of what you know produces the results you are accustomed to.   But when you pursue the things that make you happy, the money shows up — maybe because of talent and passion and energy.   [6:43] Transparency, honesty and authenticity creates connection with your audience which in turn creates conversion which is how you fun what you want.   [7:01] Don’t lose sight of why you started: build the business to support what you want your life to be to begin with and all of these things will be added unto you as well.   Wishing you happiness, love and success.   Mentioned in this episode The Wealth Dynamics Profile Test

Nathan is Founder and CEO of FreeeUp, an outsourcing company geared for e-commerce and Amazon businesses, he is also an accomplished Amazon and e-commerce seller himself!   Are you thinking about hiring, or have you ever had a bad hire? Hiring can be an expensive and frustrating endeavour for first timers. Nathan offers some guidance for entrepreneurs on how to crack that tough hiring nut!   Key Takeaways [5:41] It’s hard to scale a business without a workforce, but for some reason people give up on hiring.   [6:12] It’s not taught in school but hiring is a business function, just like marketing: it has to be done.   [10:00] It’s not me, it’s them… Why are your hires not working out? (It’s probably you) You need to analyse your interview process, your questions.   [11:35] The application process needs to be iterative: if a bad hire does get through, you have to analyse the process to figure out why and upgrade it so it doesn’t happen in the future.   [12:55] Max shares the types of hiring turning points he usually sees with his clients. 1. You are generating enough income to begin hiring my first task, usually freelance. 2. You are at 7 figures, should you keep hiring freelance or should you bring someone in house? In terms of in house or freelance there is no right or wrong, only pros and cons and it depends on you: what’s your management style? [15:44] Should you hire specialist or focus on training one individual? Project based people keep you flexible and you can build a good rolodex of individuals that fill certain niches. Agencies can help you maintain a stable workforce. [18:12] The biggest turn off for agencies is the same for everyone, and Nathan recommends working with small agencies (5-10) to build a relationship with an available owner, and ensure pricing and result. [20:42] Being successful at hiring is usually about hiring the right level: there are 3 levels of people you can hire. 1. Low level: they will follow your existing systems (you have a strong SOP and you know what you’re doing.) 2. Mid range: specialist (they know what they’re doing.) 3. High level: expert freelancers that bring in their own strategies and systems (when you don’t know what you’re doing.) [23:35] What is the minimal amount of SOP to bring to the table for a new hire? 1. Information about your business and what the goals are: what does success look like? 2. Be very clear on the “Do not do” part of the SOP. [26:42] Nathan shares his most important advice for people new to hiring: 1. Know what you’re looking for. 2. Interview for skill, but also attitude and communication! [29:22] How do you handle when you need to hire better than you? [30:50] It’s critical to diversify when you hire, give your systems redundancy! You don’t want to have your only supplier drop you, and your only manager quit on the first day of your vacation — true story… [31:44] Mention this podcast on Freeeup.com to get a 25$ credit. Mentioned in this episode Capitalism.com Max@brandbuilderstrategy.com