Thu, 11 July 2019
Today Ryan chats with his close friend and shares more about his personal roadmap to 9 figures.
Finds out just how Ryan plans to reach this lofty height, with inspirational takeaways that you can apply to focus your business for growth you never thought was possible.
[4:05] Andy welcomes Ryan Daniel Moran for a talk about his plan to build a 9 figure business.
Truth bomb [5:48] the closer Ryan gets to the financial success he dreamed of as a kid, the more he realises the people at the top are just people. It’s just a matter of the right strategy with the right habits.
Give yourself permission [7:24] Ryan shares the two ways he trains his brain to believe he can achieve the impossible.
1. The brain is a normalizing machine — it will make sense and accept what it’s surrounded with all of the time — so whatever your goal is, you have to surround yourself with it.
2. When you reach a certain level of success, you see that it was never impossible and so the next step becomes available.
Personal trainer, for business [12:00] 80% of Ryan’s work helping the hundreds of entrepreneurs he has is keeping them on track.
Capitalism Conference [12:26] Building CapCon was Ryan’s way of normalizing his surrounding to what he aspired to, and getting to the people he wanted to meet, hear and learn from.
At the first CapCon, Gary Vaynerchuk shares his flight plan and something clicked in Ryan’s brain: identify your singular skill, build a structure around it and grow it.
Always play the long game [17:20] Ryan no longer commits to anything unless he is ready and willing to do it for a year at the very least.
At the time of this interview, C-Money was still Chris and had been employed for 90 days! Ryan wanted to wait one year before passing judgement on how that new employee relationship rated.
Ryan uses growing life expectancy as an example of why it’s important to take time and invest time to achieve your goals.
Given enough time any strategy will yield exponential results, so the question becomes are you willing to commit to a strategy.
Roadmap to 9 figures [23:14] when Ryan sold his business, he came into contact with the really successful people that took it over, and watching them was a very interesting learning experience.
- They used little to no money out of pocket
- Installed an operating team (they were not buying a job, they were owners)
So this changed Ryan’s thinking about being an entrepreneur, an operator and an owner.
A company worth a million in profit can sell for 1 to 3 times profits. A million and over business can usually sell for 3 to 6 times profit. Beyond the 10 million cap, you’re opened up to institutional buyers and strategic acquisitions and are now worth 8-12 times profit.
So Ryan’s 9 figure plan is twofold:
1. Facilitate 9 figure exits by rolling up multiple 2 to 3 complementary million dollar businesses, handpicked from his masterminds.
2. Using his seminars to place himself in a position of deal flow through contact with multiple entrepreneurs, and acquire businesses.
Recent deals [30:00] Ryan has acquired a few companies in the past month, he used outside capital to finance the down payment (less than 50% value) and pays monthly terms to the ex-owner off of the company’s profits.
Blind spots Ryan ran into during this deal:
- Getting through his own fears and personal junk about this new venture.
- Hitting slow season and competition right out of the gates.
- The self defeating chatter that followed the rocky start.
Creating a complementary portfolio [39:05] at the moment, Ryan is working on deploying his own capital into expanding the portfolio of businesses he builds and works with in order to cross sell to their respective audiences.
Mentioned in this episode