Capitalism.com with Ryan Daniel Moran

One of the things Ryan and the FFL team are focusing on in 2017 and beyond is acquiring assets that produce cash flow. And that doesn’t necessarily mean what you think it means. Most people think of real estate or traditional investments. But today’s guest, Shakil Prasla has built a small empire of businesses through buying existing, profitable businesses that he can optimize and automate. Then he moves on to the next one. It’s a fascinating model and this is a fascinating conversation. You’ll learn a lot about an asset building model that very few people seem to be doing.

Shakil Prasla is a business investor, meaning he buys and optimizes existing businesses.

When Shakil Prasla bought his first business it didn’t take long for him to see that he didn’t want to be wrapped up in the details of the business, carrying out the daily operations himself. He wanted to build systems and hire a team that could do it for him. That way he would be relatively free to purchase another business, optimize it for greater cash flow, then move on. On this episode of Freedom Fast Lane, you’ll hear Shakil describe how he got started with this kind of investment model and the kind of amazing results he’s having. It’s got Ryan’s mind churning about his own possibilities, and it will probably do the same for you.

Simple hacks to improve a business you buy can result in 40% increase in profits.

When you buy a business that is already producing a profit there are often relatively simple things you can do to improve its profitability almost immediately. It sounds too good to be true - but it IS true. For example, in one situation, Shakil Prasla simply analyzed the bounce rate of website visitors, pinpointed the reasons potential customers were leaving the website, made a few simple changes, and increased visitor retention and sales by 40%. Forty percent! That’s an incredible gain with a very small amount of work. You can hear more about how Shakil optimizes his newly acquired businesses, on this episode.

Finding good people to run your business is vital for success. Here’s how Shakil does it.

Anyone who runs a business knows that the team you hire to do the work of the business is vitally important. And if you are like Shakil Prasla and want to be out of the daily running of the business, it’s even more important that you find managers who are not only competent but also trustworthy and aligned with your vision for the business. In this conversation, Ryan asks Shakil how he finds the good people to run his businesses and what he does to assess and train them to be successful. It’s a great lesson in onboarding and team building that anyone will benefit from.

How much should you pay for an internet-based business?

When you talk about purchasing profitable businesses as cash-flow assets it’s hard to know exactly what you should pay for the business. After all, it’s worth more than the annual cash-flow, but how much? Since Shakil Prasla has built a business portfolio through business acquisitions Ryan decided it was a great opportunity to find out what an experienced guy like him would say to the question. If you’d like to know what Shakil is usually willing to pay for a profitable business - and in so doing know what you’re might be worth to a buyer - you should listen to this episode of Freedom Fast Lane.



Outline Of This Great Episode

  • [0:16] Ryan’s introduction to Shakil - and the business model he uses.
  • [2:08] How Shakil got started in business.
  • [3:24] The type of businesses that Shakil buys.
  • [5:36] The importance of a great team.
  • [8:19] Shakil’s role as owners - passing off the work to managers.
  • [8:50] The process of finding the good people to run the business.
  • [11:10] The complications that can happen in this business model.
  • [15:45] Exploring the growth strategies possible in potential businesses.
  • [19:00] Maximizing the previous owner’s missed opportunities and adding product line improvements.
  • [21:40] 4 key ways to get financing for a business purchase.
  • [24:30] How Shakil finds the businesses he purchases.
  • [25:57] The first months after buying a business. What does it require to run it well?
  • [27:30] Taking breaks between acquisitions? What’s realistic?
  • [28:45] The reasonable multiple Shakil looks for in companies he might buy.
  • [30:53] The hardest part of the process: the risk of online businesses.
  • [35:04] How you can find and support Shakil.

Action Steps From This Episode

FOR GETTING STARTED: Understand that any existing capital can be invested in businesses just as much as property or stocks. Finding the right businesses for sale and exploring their potential is a great way to build a portfolio of business investments.

FOR GREATER SUCCESS: Once you purchase an existing business, ask the previous owner what improvements he/she has considered but hasn’t implemented. Find out why. Often, you can implement some simple improvements and see immediate profits.

Connect With Today’s guest: Shakil Prasla

Website: http://szventures.com/

Shakil(at)SZVentures.com

On Twitter

On LinkedIn

Resources Mentioned On This Episode

Direct download: shakilprasla.mp3
Category:general -- posted at: 6:00am EST

Every person who is trying to make something significant of their life is faced with the challenge of effective time management. We all have the same 24 hours - but it’s what we choose to do with them that will make the difference between success and mediocrity. This episode features Ryan’s good friend, Sean Coyne who shares his use of the Eisenhower Matrix to determine the tasks that are worth focusing on at any given time. It’s a great, practical way to evaluate all you have to do so that you can do the truly important things.

What IS this thing called the Eisenhower Matrix?

The Eisenhower Matrix gets its name from former President and U.S. General Dwight D. Eisenhower. It’s a tool he used to manage his own time and priorities and has proven to be a failsafe way to make decisions, delegate, and prioritize. In reality, it’s nothing more than a chart with 4 squares that you can use to evaluate every task you have to do and make decisions. On this episode of Freedom Fast Lane, Sean Coyne describes how he uses the tool and makes recommendations for best decision-making, delegation, and achievement. If you are at all struggling with making the most of the hours you’ve been given, this episode is for you.

Delegation is a skill you’ve got to learn. Here are some tips for doing it well.

One of the things the Eisenhower Matrix helps you determine is whether or not a task on your to-do list is something that YOU have to do. If not, then you need to figure out a way to delegate that task to someone else - a person on your team, a sub-contractor, a person from Fiverr - anybody but you. Sean Coyne walks through some of the most important parts of what goes into good delegation and what often causes efforts at delegation to fail, on this episode.

Increase the time you have is by establishing a “don’t do” category for tasks.

When you first look at your to-do list every day you may feel overwhelmed. It’s a natural feeling at times so don’t beat yourself up about it. BUT, many of the tasks on that list may be things that you really shouldn’t do at all. If you are able to determine what they are then you can cross them off your list immediately. On this episode, Sean Coyne unpacks a simple way to find the “don’t do” tasks on your list so you can focus your efforts on things that matter more. It’s all on this episode of Freedom Fast Lane.

If you are going to manage your time well, you’ve got to practice.

It’s great to learn about new tools to help you manage your time and projects - like the Eisenhower Matrix Sean shares on this episode. But if you don’t put them into practice and keep on practicing them, you’re going to wind up frustrated and worst of all, remain unproductive. No matter what your personality or bent, when the rubber meets the road you’ve simply got to do it - over and over again to be productive. Sean Coyne gives his best tips for staying at it and developing habits that can serve well over time. This one is a “must listen” episode of the show.

Outline Of This Great Episode

  • [0:00] How you can connect with Freedom Fast Lane TV.
  • [0:35] Ryan’s introduction to his friend Sean Coyne.
  • [3:29] Sean’s introduction to the Eisenhower Matrix and the basics of its use.
  • [8:00] A deeper dive into each of the categories on the matrix.
  • [10:22] Tips about applying your decisions to each quadrant on the matrix.
  • [14:14] The different way of thinking required by the tasks you must delegate.
  • [16:45] One way to determine what tasks belong in the “don’t do” category.
  • [19:14] Practice, practice, practice.
  • [20:14] The most important of the 4 categories in the Eisenhower Matrix.

Action Steps From This Episode

FOR GETTING STARTED: Google the Eisenhower Matrix and learn the basics of how the tool works. The more you know a great system like this the more potential you have for managing your time and efforts well.

FOR GREATER SUCCESS: Take the time to USE a tool like the Eisenhower Matrix - regularly. Nothing Sean has shared will do you any good if you don’t employ it in your life.

Resources Mentioned On This Episode

Connect With Freedom Fast Lane Live

Website: www.FreedomFastLane.com On Youtube On Facebook On Twitter On Google Plus On LinkedIn On Instagram

Subscribe to Freedom Fast Lane

Subscribe to the Freedom Fast Lane Podcast with Ryan Daniel Moran

Direct download: productivity.mp3
Category:general -- posted at: 6:00am EST

When it comes to generating audiences and building product brands around them, the window has closed on the traditional way of doing things and a new strategy is needed. New opportunities are opening up to provide more sales, repeat customers, and higher priced products. This conversation between Ryan and fellow entrepreneur Ezra Firestone highlights the changes that are in play and how you can leverage them to accomplish record growth in your business for 2017!

Moving Past Amazon

Physical product owners dependent on Amazon will likely be acquired, have to operate like a big brand, or get swallowed up. Ezra Firestone is one of the few who has been able to build an audience outside of Amazon and produce millions in income. In this conversation, Ezra talks about how to make the shift to leverage the Amazon cash flow to fund building an actual business. People are often discouraged by the technology hurdles associated with moving away from Amazon to other platforms. Ezra offers hope for getting past those hurdles to a much bigger market by going after more than just query-based traffic.

What is the one skill set you need to achieve success in marketing your business?

One skill set is more important than the others. Find out what it is in this fast-paced, highly-motivating conversation with Ezra Firestone. The content and the platforms that really work to get potential buyers to engage with you may not be what you think. Find out what platforms can bring you the people who will love your product! If you move outside the box and stick with it, the potential for business growth is huge!

Driving Sales with Touch-Based Content

Reach your potential market by creating videos, targeted to specific geographic audiences and device types. The way people consume the digital medium has fundamentally changed. Ezra Firestone talks about how to develop a strategy for re-targeting people based on their responses to an initial video. Meeting them where they are, touching on collective experiences, and amplifying content on multiple platforms, results in better cost-per-acquisition, even though the sales cycle is longer.

Ezra Firestone’s Three Pillars for Advertising and Business

The three pillars are Ezra’s way of defining his process of moving people from not knowing about him to being a fully engaged and loyal customer. He never stops the process of communicating with people based on how they engage with him. His business has skyrocketed through focusing on the three pillars and building an effective team around them.

Outline Of This Great Episode

  • [00:01] Ryan Daniel Moran introduces this episode and guest Ezra Firestone
  • [04:48] How to make the shift to building an audience outside of Amazon
  • [08:57] Overcoming the technology hurdles in moving away from Amazon
  • [13:30] The one skill set you need
  • [14:00] Driving sales by creating and targeting videos
  • [16:39] Where to send potential buyers, based on consumer need
  • [20:56] Traffic Driving on Facebook, Messenger, and other platforms
  • [29:36] How the launch process has changed; releasing new products without query searches
  • [34:04] Three pillars of advertising
  • [36:19] Putting together your team and facilitating growth
  • [47:00] Determining what sticks
  • [56:30] Who will succeed in 2017?

Action Steps From This Episode

FOR GETTING STARTED: Be willing to commit your attention to advertising over time. Invest the time and money that is needed and don’t quit too soon.

FOR GREATER SUCCESS: Spend a few hours each week consuming content for further education.

Connect With Today’s guest: Ezra Firestone

Website:

On Twitter

On Facebook

On LinkedIn

Resources Mentioned On This Episode

 

Direct download: ezrafirestone.mp3
Category:general -- posted at: 6:00am EST

When we are honest about what it takes to build a company from scratch, as a founder who’s building a team or a one man entrepreneur, there are certain things that are part of the journey that can’t be avoided. Fear and insecurity are part of that. It’s how you handle those things internally that will make the difference between being hindered by them or helped by them. This conversation between Ryan and his friend Kamal Ravikant is an exploration of the inner game, the work that has to be done slowly but diligently over time to ensure that you, the person at the heart of your company, is able to grow and pivot as the demands of business increase. It’s worth your time. Seriously.

How can entrepreneurs learn to deal with the fears that arise on the journey?

Every entrepreneur, if they are honest, will admit that fear plays a significant part in the journey toward success. The temptation is to feel that because you are fearful, you are not OK, you are not normal. But the reality is that it’s common to everyone who’s trying to do something great in life or business. Kamal Ravikant has experienced that fear himself, numerous times. He believes that it can’t be overcome entirely, but that each person can learn to think about it in a way that will serve them rather than hinder them. When that pivot is made, everything changes. Find out more about how Kamal has learned to use fear to his benefit, on this episode.

Why Kamal decided to write a fable instead of another non-fiction book?

You’ve heard the saying, “Leaders are readers.” That’s an apt description of entrepreneurs. Entrepreneurs are entirely into reading non-fiction books. The next best-selling business book is always on the reading list, always on the agenda for most successful business leaders. But Ryan has recently discovered a powerful goal for fiction reading, especially the kind of story that stretches you - that enables you to see yourself or your life in new ways that allow you to examine, change, and grow. Kamal Ravikant has written “Rebirth” as one of THOSE kinds of books. Ryan says it’s one of your MUST READ books for 2017. Find out more on this episode.

Why it’s ALL about the inner game.

Every business that grows does so because it has a foundation that can support the growth. And at the foundation of that foundation, is the business leader - the entrepreneur who has the vision, builds the infrastructure, and keeps things moving. THAT is the reason that business growth and success is as much about the founder’s personal inner game as it is about anything else. If he/she is not growing, stretching, learning, and becoming capable of supporting the business growth in new and meaningful ways, the growth will stagnate and die. This conversation with Kamal Ravikant is an enlightening look into the inner game and the dynamics that make it so pivotal in the growth of any business.

How do you navigate the overwhelm? Do the next right thing.

If you are a business owner you know the feeling of overwhelm. It’s a given. There are myriad situations day after day that make overwhelm a reality. The way to navigate it is not just to push through, it’s to push through with wisdom and discernment, refusing to let the massive weight of all that is before you smother you. You’ve got to do the next right thing. Then the next right thing. Then the next one. That’s how you move forward and get out of overwhelm. Kamal Ravikant tells his hard-learned lessons about dealing with overwhelm on this episode of Freedom Fast Lane.

Outline Of This Great Episode

  • [0:02] Ryan’s introduction of Kamal Ravikant.
  • [3:15] Kamal’s background in tech, Silicon Valley, and venture capital.
  • [4:40] The journey entrepreneurs travel and the learning that comes from the journey.
  • [9:30] Where does the stress come from giving your all on the journey?
  • [12:24] How can someone shift from insecurity and fear to security and confidence?
  • [18:18] Unexpected advice for CEOs: Get rid of negative people fast.
  • [21:00] Kamal’s transition to writing fiction instead of nonfiction.
  • [27:20] An overview of the story: Rebirth.
  • [29:10] How should entrepreneurs think about pausing to enjoy the journey instead of delaying gratification and joy for the sake of the company?
  • [36:50] Why it’s important to do the next right thing and not get overwhelmed.
  • [38:22] Why Kamal believes “Rebirth” is a very special book that will help you.

Action Steps From This Episode

FOR GETTING STARTED: Learn to become “OK” with the reality that fear is part of the entrepreneurial process and will never be overcome. But you can learn to use it for your advantage.

FOR GREATER SUCCESS: When facing overwhelm, simply relax and do the next right thing. It requires patience discernment but it’s the only way forward.

Connect With Today’s guest: Kamal Ravikant

Website: http://rebirthfable.com/

On Twitter

On Facebook

Resources Mentioned On This Episode

Direct download: kamalravikantrebirth.mp3
Category:general -- posted at: 9:00am EST

Predictions. Everybody has them but very few people are right. Ryan has a track record of being fairly right - sort of. And he’s trying his hand at it again. On this episode, Ryan revisits his predictions from the end of last year and makes additional predictions about what he sees coming in a variety of realms for 2017. If you want to know what he thinks is coming down the pike for Amazon sellers, in regard to the economy, and in the BASEBALL season coming up, be sure you make the time to listen.

The wild west phase of Amazon sales is over.

It used to be that anybody could create a product that sells pretty successfully on Amazon but those days are over. Not only is the market becoming more and more crowded but the bigger brands are moving in. The money they throw into the process makes it extremely difficult for the little guy to get the leverage needed to launch a new product. But that doesn’t mean it’s impossible. You can hear how Ryan suggests new sellers go about building their brand before they launch, on this episode.

What should you expect from the Trump administration in 2017?

Now that the dust has settled from the most contentious election in U.S. history, what can we expect from our President-elect and his administration? Ryan believes that Donald Trump will become a centrist President, working hard to bring people from both sides of the political spectrum to a middle ground where they can work together to make some changes. If you’d like to hear the details of how Ryan believes that move will impact foreign policy, Obamacare, and the economy, he unpacks all of it in this predictions episode of Freedom Fast Lane.

The economy is still going strong. But will it last?

In last year’s prediction episode of the Freedom Fast Lane podcast, Ryan Daniel Moran said that he believed the economy would take a steep turn downward in 2016. It appears that he was wrong. But he continues to feel that things can’t go on unchecked as they have been. There’s too much overvaluation of companies and real estate and he doesn’t see how it can sustain itself much longer. So he’s predicting an economic decline again in 2017 - but thinks it’s going to be a good thing overall. Find out why on this episode.

New things coming from the Freedom Fast Lane team.

Moving forward the Freedom Fast Lane podcast is going to be bringing you great content and experts in business just as it has in the past. But the team is working to organize that content into seasons, where you can find certain areas of focus blocked together so that you can binge on the same area of interest all at once in one season’s content rather than have to hunt all over the website and podcast episodes to find it. More details are coming soon!

Outline Of This Great Episode

  • [0:45] Ryan’s intro to this episode.
  • [1:59] Predictions about the Amazon sales channel.
  • [8:32] Predictions regarding the Walmart/Jet trend.
  • [9:15] How new and innovative products are going to grow in the future.
  • [10:35] A new kind of wide open west period on the horizon.
  • [12:30] 2017 will be the year of the big brand in online sales - and how it impacts you.
  • [16:07] Last year’s political and economic predictions Ryan got totally wrong!
  • [18:07] The political predictions for 2017 - Trump, centrist leadership, Obamacare.
  • [20:50] Economic predictions Ryan missed and why he’s standing by them.
  • [24:17] Ways you can buy businesses through Freedom Fast Lane’s tribe.
  • [26:19] Ryan’s predictions about BASEBALL - he got it right and what he thinks is coming in 2017.
  • [28:25] Emerging trends Ryan got right and where things are heading in 2017.
  • [32:54] Overseas policy predictions: tariffs, building a wall, and nothing to worry about.
  • [33:45] The future content production ideas coming from Freedom Fast Lane.  

Action Steps From This Episode

FOR GETTING STARTED: Start building an email list and community behind your niche now! You’ve got to be able to launch your brand and products with some momentum behind it in the future. You may even consider a crowdfunding platform to build interest.

FOR GREATER SUCCESS: Build your brand more than trying to build one-off products that sell. 2017 will be the year of the big brand and the more you can be seen AS a brand the more successful you will be.

Resources Mentioned On This Episode

Connect With Freedom Fast Lane Live

Website: www.FreedomFastLane.com

On Youtube

On Facebook

On Twitter

On Google Plus

On LinkedIn

On Instagram

Subscribe to Freedom Fast Lane

Subscribe to the Freedom Fast Lane Podcast with Ryan Daniel Moran

Direct download: FFL20-20201720Predictions.mp3
Category:general -- posted at: 6:00am EST

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