Capitalism.com with Ryan Daniel Moran

Host Information Facebook: https://www.facebook.com/ryandanielmoran/ LinkedIn: https://www.linkedin.com/in/theryanmoran/ Twitter: https://twitter.com/ryanmoran Website: https://capitalism.com   Show Notes There have been a bunch of changes in the physical products world that have some people frustrated. Ryan’s been thinking about it a lot, and he’s come up with actionable advice to share with you about rethinking your ecommerce strategy, particularly if you rely on Amazon.   Another large consolidation is happening. We had one a few years ago, when Amazon was in a “Wild West” period, where you could white label almost anything, get a few reviews, put up some decent copy and make a good profit.     During that gold rush, people became lazy. This let companies that were doing really well squeeze out and buy up their smaller competitors, increasing their domination on the market. This made it harder for new entrepreneurs to get success with the same strategies   A similar thing is happening now, which means you need to change your strategy to stay successful.   The old way of doing ecommerce is over. Amazon has gotten hawkish about what you can do on the platform. Some of this is great, such as banning a number of black-hat strategies. Some of this is not so great, such as making it harder to market to your audience. Is there still opportunity? Yes. Are all the good markets taken? No. Are there any lucrative, high-profit margin niches out there? Absolutely. Here’s how you can tap into that:   Go super microbrand. Ten years ago, you could sell protein powder and do very well. Now there’s dozens of types of protein powders out there, such as whey-based, keto, and plant-based.   They all make money on high-margin products. A lot of them didn’t even have to redesign their goods, they just had to rebrand to target a specific, small niche with their marketing. You can do that too with your own products!   Don’t be discouraged by the changes to the ecommerce world. Embrace the change and be the change!   Key takeaways:   Another large consolidation is happening The old way of doing ecommerce is over Go super microbrand   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter  

This week we chatted with Madhavi Gupta, who’s made a 9-figure business, Best Nest Wellness, out of doing what she loves. Guest Information Facebook: https://www.facebook.com/lovemadebest Twitter: https://twitter.com/lovemadebest Website: https://www.bestnestwellness.com/ Email: support@bestnestwellness.com Show Notes From working as a neurologist to business success in supplements (while raising two kids), Madhavi had an incredible entrepreneurial journey. We wanted to share some advice we learned from Madhavi that you can take action on right now.   Become part of communities. Madhavi sells supplements. That’s a really hard field to break out into, since you need regular, habitual consumers and must differentiate your product from those offered by the established big brands.   By forming genuine relationships with communities of people focused on wellness, Madhavi was able to get a sense of their needs, and improve the design and marketing of products towards her target audience.   Get the word out.  Nobody will buy your stuff if they don’t know you exist! Madhavi started by focusing on marketing two products to those communities she connected to, including groups for expectant mothers interested in a “natural” birth.   She spread the word out about her products through them, as well as offered heavy discounts on the products. Since her products were of really high quality, they sold quickly in those communities she had connected to, who evangelized her products to their social circles.   Focus on why you are an entrepreneur. Madhavi is able to spend a good deal of quality time with her children, as her business gives her flexibility with her schedule. Being an entrepreneur lets her provide for and be with her family.   While she is working to scale the business and dreams of great things for Best Nest Wellness, she has kept her goal in mind all this time: to be there for those who matter the most to her.   We hope you enjoyed hearing about Madhavi’s experience as an entrepreneur!   Key takeaways: Become part of communities Get the word out, and Focus on why you are an entrepreneur Connect with Madhavi Learn more about Best Nest Wellness at https://www.bestnestwellness.com/.   On Facebook On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Show Notes This week we chatted with Dr. Jenna Zigler, who runs Eye Love, an eye care and sunglasses company, with her husband Dr. Travis Zigler  They’ve scaled it quickly, with an awesome $500,000.00 revenue earned in December 2017 alone.   We wanted to share what Jenna learned along the way. We’ve summed it up in three actionable tips below:   Create an online community for product targeting. Trained optometrists, Jenna and Travis wanted to start selling their own products, instead of those from other companies. They listened to what their patients had to say about their eyes, and then launched a Facebook support group for dry eye syndrome.   Although that Facebook group started tiny, it has ballooned over the years to over 400,000 members! They now have a huge audience, from whom they can get product ideas and to whom they can advertise their new product offerings. Focus on providing value to people. Jenna and Travis want to make people’s lives better. While they are delighted to be making a profit off the work they’re doing, they make products specifically to help people with vision issues.   There are millions of people with dry eye syndrome, which gives them a number of daily issues. Jenna and Travis are delighted that the products they make helps them manage this condition.   Find a way to tap into a giving mindset. It can be easy to approach business as a means to “take”, to get what one wants out of life.   But to sustain your passion for your work, you need to connect it to a giving mindset. By focusing on how you can make life better for others, you make your own life more meaningful.   Jenna’s and Travis’s giving mindsets stems from their passion to fight preventable blindness, which affects over 700 million people around the world. They make trips every year to help people with vision issues directly, and also contribute a portion of their profits to fight preventable blindness in South Carolina and Jamaica.   We hope you enjoyed hearing about Jenna’s experience as an entrepreneur!   Key takeaways: Create an online community for product targeting Focus on providing value to people, and Find a way to tap into a giving mindset Connect with Jenna Learn more about Eye Love at https://eyelovethesun.com/. On Facebook On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Show Notes This week we talked with Travis Killian, who has made a 10-figure business out of selling physical products on Amazon. We wanted to let you know what Travis learned about growing his business; he’s got great tips that you can apply to your own venture now.   Commit to the journey. Travis got into entrepreneurship as a teenager, but it was years before he felt he had made it. He would discover a talent for search engine optimization and lead generation, which he would harness for his 10-figure success: selling physical products on Amazon.   It may feel rough in the early days, but you need to hang in there if you want to taste success. Travis did.   You either provide value, or you don’t. Years ago, Travis was so desperate for business success that he was pushing affiliate links online for products and services he didn’t really care about. When a close friend told him he was basically trying to make money by getting people to buy things they don’t really need or want, he had an epiphany.   He shut down his affiliate marketing business, and vowed from that day forward to make and sell things that actually improve people’s lives. He hasn’t looked back, and it continues to be at the core of the focus on quality behind his physical products enterprise.   Don’t be greedy; a giving mindset will bring success and a team who wants you to succeed. Travis makes sure he goes above and beyond with the work he does. His colleagues and friends have picked up on that, and as a result, he’s been able to hire a team who also goes the extra mile for him.   With only about six full-time equivalent staff on hand, he’s been able to scale to 10-figures in less than two years. How? Because he wants to do right by other people, so he attracts people who want to do right by him.   We hope you found Travis’s journey as insightful as we did!   Key takeaways: Commit to the journey You either provide value, or you don’t, and Don’t be greedy; a giving mindset will bring success and a team who wants you to succeed   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Guest Information Facebook: http://www.facebook.com/meetezra Twitter: https://twitter.com/ezrafirestone LinkedIn: https://www.linkedin.com/in/ezrafirestone Website: https://smartmarketer.com/ Email: Help@SmartMarketer.com   Show Notes This week we let you eavesdrop on Ryan Moran and Ezra Firestone talking candidly about a number of things at the recent Capitalism Conference. We wanted to share their awesome insights with you.   Provide an enticing reason for people to enroll in your newly-launched courses. If you’re trying to break out as a business mentor, you need to onboard people quickly, so that they can use word-of-mouth to let others know how much value you’re providing. Ezra does this by launching early “beta versions” as a discount, requiring attendees to provide written feedback.   This draws an early audience and lets you tailor future versions to better cater to your niche. A win-win!   There are other tactics besides medication for depression. Ezra’s read up a lot about depression, and while he’s not a psychologist, he’s learned that even getting a better night’s sleep can make a big difference.   Beyond that, he’s read about how depression is a lot like grief, except you are grieving for yourself. If you find yourself down a lot of the time, reach out to a professional for guidance.   Building connections with others is what drives us. We’ve “detribed”; we no longer live in small groups, but as individuals in massive societies. But we get so many rewards from making connections, whether it’s emotional, financial, or even neurochemical.   That’s why Ryan and Ezra are exploring the idea of buying up land and building their own communities, so they can create a space where meaningful connections are easier to grasp.   Hope you enjoy being a “fly on the wall”, listening in on Ryan and Ezra’s off-the-record talk in this episode!   Key takeaways: Provide an enticing reason for people to enroll in your newly-launched courses. There are other tactics besides medication for depression, and Building connections with others is what drives us. Connect with Ezra Hear more from Ezra at https://smartmarketer.com/category/podcasts/ On Facebook On Linkedin On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter  

Show Notes What are you going to invest your money in over the next 24-to-36 months? How can you reduce your tax burden?   We recorded our awesome Investor Panel from the past Capitalism Conference to help you answer these questions and more. You have to listen to this great talk, filled with wealth-growing and cash-saving opinions (some of them contradictory, which happens in a panel!) that you may be able to act on right now.   DISCLAIMER: None of this material here is formal investment advice. Make sure you talk to a professional investment advisor before making any decisions about where to invest your wealth.   Ryan’s not too keen on cryptocurrencies, but the panel as a whole believes they are revolutionary. There’s been an incredible growth in the value of Bitcoin over the past few years, with some of our elite panelists seeing further surges in value to come.   While Ryan’s not convinced that cryptocurrencies will continue to appreciate as holders of value, the panel was unanimous in its belief that it will change the world. Many industries will benefit greatly from the reduction in transaction costs, and credit agencies could even use blockchain technology as a personal identity system.   Puerto Rican business entities can be a great way to reduce your tax burden. Puerto Rico offers compelling tax advantages over other tax shelters to park your wealth. Make sure you look into all the relevant rules with an advisor, since there are a number of restrictions and obligations you will have to address to best harness the territory for investing your wealth.   Watch out for climbing interest rates. The panel expects interest rates to go up over the next 24-to-36 months. This has prompted a number of investors to transition towards more liquidity and into areas that are expected to grow in a recession; for example, real estate investors switching to investments in mobile home parks.   We hope that you found this talk as useful as we did! Key takeaways:   Ryan’s not too keen on cryptocurrencies, but the panel as a whole believes they are revolutionary Puerto Rican business entities can be a great way to reduce your tax burden, and Watch out for climbing interest rates Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Guest Information Facebook: https://facebook.com/kidsnsuch Twitter: https://mobile.twitter.com/kidsnsuch Website: https://www.kidsnsuch.com/ Email: help@kidsnsuch.com   Guest Bio Justin Dyson is the proud founder and owner of Kids N' Such, a physical products brand selling useful items for babies and their parents, such as nursing covers, bibs, and baby carriers. He runs the company entirely from the comfort of his own home.   Show Notes   Justin Dyson knows how to turn a failed launch into something really strong. Here’s how he did it:   Keep looking forward. After a trademark notice halted sales of a product, Justin decided to just have Amazon destroy the remaining units. He started from scratch, going back to the drawing board and pushing through.   He came up with new products that sold well and complemented each other. Instead of dwelling on the past, he looked to his talents and drive and went for it.   Focus on what works. Justin’s found that making more money can amplify pre-existing mistakes. When his business started taking off, he had more money to throw at advertising…   ...which meant more money lost on failed advertising campaigns. He then honed back in on what worked well for him (PPC ads, making products that complement existing offerings) and made the business grow more that way.   Make products that solve problems. When Justin’s revenue started to flatten, he looked to what his competitors were saying about their products online, and the comments that their customers would post. That gave him a lot of great information to build products that worked for his audience.   Those products are things that solve your customers’ problems. It’s one thing to make something with nifty-sounding features, but if you want your physical products business to really take off, you need to make things that make people’s lives better in a tangible way.   Key takeaways:   Keep looking forward Focus on what works, and Make products that solve problems Connect with Todd Find out more about Justin’s company, Kids N’ Such, at https://www.kidsnsuch.com/.   On Facebook On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Guest Bio Jeremiah is the co-founder of Tribe, a fitness brand specializing in mobile device armbands, with hundreds of thousands of dollars in sales per month. He has since branched out into starting other companies and mentoring other entrepreneurs. He is an equity partner of Roam, a brand selling physical products for outdoor adventuring. Show Notes How the heck do you become a millionaire at 20?   If you’re Jeremiah, you had a little luck, of course, but you also harnessed your skills and attention to detail to take advantage of your luck.   Here’s how Jeremiah did it, and how he would do it differently if he could start again. You need to hear his awesome story, since he’s got amazing insights that you can apply to your physical products business right now.   Private labelling can get your foot in the door, but it’s hard to scale if you don’t take control. If you can find a good designer and take care of your customers under your brand name, you can build trust and loyalty. This translates well into snowballing your business on a platform like Amazon. The problem is you end up relying on a third-party to produce quality products.   So Jeremiah decided to design his own products under his brand, Tribe, which sells mobile device armbands for fitness aficionados. That led to a great boost in positive reviews and sales, while giving Jeremiah control over the products that got into his customers’ hands. Focus on revenue generation. Designing a logo can be really fun and feel rewarding, with something shiny that you’re proud to put on your products. But does the new logo actually translate to sales?   Figure out what steps you can take that measurably increase revenue, whether it’s a Facebook ad campaign, adding a new feature to a revision of a popular product of yours, or a promotional sale. Hire a team early. Jeremiah and his partner would get burnt out periodically at Tribe. While they’ve succeeded in building it to a seven-figure sale, Jeremiah wishes he had taken on employees earlier on.   At Roam, his new company, they’ve hired a full-time employee and are in the midst of recruiting. This helps ease the pressure off the founders while also adding more hands on deck to scale faster.   We hope you’ve found Jeremiah’s story helpful in your own journey to a multimillion dollar payday! Key takeaways:   Private labelling can get your foot in the door, but it’s hard to scale if you don’t take control Focus on revenue generation, and Hire a team early   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Guest Bio Paul Miller is a former restaurant owner and now the proud CEO and owner of CozyPhones, a business that makes and sells comfortable headbands with headphones embedded inside. His products cater to children (including those with special needs), active adults, and for those looking for a way to relax before bed.   Show Notes We’ve talked to a number of different business owners over the years, each with a different story and path to success. Paul Miller joined us to talk about selling physical products online to hit his seven-figure success. We love physical products businesses at Freedom Fast Lane, but Paul’s approach incorporates something a bit different: selling licensed goods.   He explained how you can tap into an exclusive niche this way. His experience gave us awesome, actionable insight into different options for your product development and sales.   Paul spent a long time and millions of dollars on a restaurant business, but that didn't work out in the long-run. After a traumatic accident which broke his collarbone, he decided on a different path: ecommerce. He scaled dramatically within 12 months, selling different products. Now he’s landed on a real winner: comfortable headband headphones.   What really amped up his sales was branching out into licensed products. He’s worked with other businesses, offering to design CozyPhones with their brand imagery on them, and paying them a royalty on each sale. This has gotten his company noticed by Disney and Nickelodeon, the latter of which has a deal with him to sell Paw Patrol-branded headphones.   That was an awesome catch for Paul, in two ways. First, Paw Patrol is one of the most popular children’s television shows across the world. Second, his deal is exclusive, meaning no other business can sell similar headphones with Paw Patrol branding. He’s both created and cornered a lucrative market!   If you’re in the physical products space, you need to consider opportunities to sell licensed goods. Otherwise you could be leaving money on the table. Key takeaways:   Physical products with third-party brand licensing are attractive to consumers They let you create a niche and monopolize it at the same time Look into partnering with complementary businesses for such opportunities   Connect with Todd Check out Paul’s company at https://www.cozyphones.com/   On Facebook On Linkedin On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter

Guest Bio Devin is the Co-Founder and CEO of DSquared International LLC, an eCommerce company specializing in consumer brands.  He is a ninja when it comes to building brands on the Amazon platform. He is currently best-known for his Grillaholics line of barbecue products.. Show Notes Amazon is a great platform for minimizing the friction between creating a product and connecting it to consumers. But how can you scale up and make a big splash in an ocean of global competitors?   That’s why we approached Devin Dorosh, who has hit some awesome goals and brand recognition, to share with us tips that you can use now in your Amazon strategy - and maybe even get featured on television.   Stay focused on the things that you do well. Devin made sure he launched products that fit the niche he was targeting, with branding consistent with message. He kept rolling out more products, but focused on doing things well on Amazon (his strong suit) instead of getting distracted with new marketing techniques.   Treasure your interactions with your market, both positive and negative. Devin has a policy of replying to every single Amazon review his products get, whether they praise his goods or criticize them. This helped him build a feeling of real connection with his target market, pushing his brand to best-seller status on Amazon with great reviews.   That unique touch Devin takes with his audience is what got him noticed by Rachael Ray’s television show, getting his products and brand in front of the mainstream television-watching population.   Keep to a long-term vision to motivate you through your short-term goals. Growing your business can be a grind. Devin even found himself managing his supply chain during his honeymoon, when inventory matters became time-sensitive. But Devin stays motivated by thinking about the freedom he can give himself, his spouse, and his future children through the strong financial safety net he’s building.   We wish you the best of luck on your own Amazon business journey! Key takeaways:   Stay focused on the things that you do well Treasure your interactions with your market, both positive and negative, and Keep to a long-term vision to motivate you through your short-term goals Connect with Todd Find out more about Devin at www.devindorosh.com   On Facebook On Twitter   Connect with Ryan Find more amazing podcast discussions on FreedomFastLane.com.   On Facebook On YouTube On LinkedIn On Twitter