Ryan had a very motivating chat with Sam Prentice, an investment expert and the co-founder of Wealthpoint, about generating passive income through investments. Here’s some of what Sam had to say about what to do if you get a big windfall (from selling a business for example):

Use 1031 exchanges wisely

Some of Sam’s clients used a 1031 exchange to take money from one depreciated property, reinvest it in another property, and defer all capital gain taxes. You can actually 1031 between asset classes as long as they are considered like-kind. Some people exited real estate for a great profit and reinvested the money in oil and gas.

Set up a capital warehouse and then go for the cash flow

First set up a capital warehouse, which means that you will have a limit to how much you can put into it each year. This is basically a liquid place to store capital which earns a return. For the rest of the money, go for anything cash flow.

Keep it simple

Look for assets that have a value and buy countercyclical assets when you don’t know what you’re doing so that you can trade them later. Always keep it simple. Look for sweet spots, aka places where you have a strategic advantage either in knowledge, or in the people that you know, or the sector you are familiar with.

It was great listening to Sam!

Key takeaways:

• Take advantage of 1031 exchanges
• Set up a capital warehouse and then go for the cash flow
• Keep it simple and look for sweet spots

Connect with Ryan

Find more amazing podcast discussions on FreedomFastLane.com.

• On Facebook
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• On LinkedIn
• On Twitter

Connect with Sam

Find out more about Sam’s company, Wealthpoint, at https://gowealthpoint.com/

Want to know what's coming this year, next year, and in this next coming wave for Amazon, for selling in retail and in marketing physical products to audiences?

I have some thoughts.

Mike Zagare is one of the world's leading expert's on maximizing traffic to Amazon product pages.

Show Notes

A former physical therapist, Mike went all-in on pet products on Amazon and hit it big using pay-per-click (PPC) advertising. Here’s some of what Mike had to say about kickstarting success through marketing:

Go big under one tent

Mike reached his success by focusing on one niche area - pet products. He started with just a few items under one brand name, and expanded to over 40 products under that brand. This lets him get the most out of his marketing spend, since driving traffic to one brand means driving traffic to all his products.

Take your marketing spend seriously

If you're going to drop money into PPC advertising, do it right! Draft awesome ad copy. Craft great graphics. Make it have the best impact possible right out of the gate.

Target the right platforms

Facebook is great for building an audience. It’s not so great for direct response for Amazon products. Make sure that your PPC ads focus on the right venues for the market reaction you want.

It was great listening to Mike!

Key takeaways:

• Optimize your spend with products under one brand
• Craft excellent PPC ads, and
• Put those ads in front of the right audiences

Connect with Ryan

Find more amazing podcast discussions on FreedomFastLane.com.

• On Facebook
• On YouTube
• On LinkedIn
• On Twitter

Connect with Mike

FInd out more about Mike’s company, PPCE Academy, at https://ppce.academy/  

Will Clarke of Poo~Pourri - a company making essential oil sprays to neutralize bathroom odors - gave the best speech you may ever hear about taking a dump... and how 1 video can lead to millions of sales.

Show Notes

Hire polymaths

Hire people who are superb at more than one thing. You’ll have a really strong and well-rounded team that can produce excellence, as they understand how to achieve excellence in more than one area.

Empathize with your customers

Poo~Pourri relies a lot on humor to hit success with its ads. That doesn’t mean it isn’t sensitive to its customers who have serious health conditions, like irritable bowel syndrome. The company adapts its messaging appropriately so it can make those respectful, lasting connections.

Do epic shit

Don’t sell an okay product, or a minimally viable prototype. Make something that solves a problem in a unique way (like covering up embarrassing smells from bowel movements when others are in the same residence/building) and hone in on that awesomeness in your marketing.

It was incredible hearing Will talk at CapCon!

Key takeaways:

• Hire a team of people who are great at lots of things
• Rely on empathy in your messaging, and
• Aim for excellence, not mediocrity

Connect with Ryan

Find more amazing podcast discussions on FreedomFastLane.com.

• On Facebook
• On YouTube
• On LinkedIn
• On Twitter

Connect with Will

FInd out more about Poo~Pourri at https://www.poopourri.com/

Casey Gauss gave brilliant talk about HOW brands are currently crushing it selling products on Amazon at the Capitalism Conference this past winter.

The CEO of Viral Launch, he’s all about sourcing, launching, and dominating your way to success. If you missed CapCon, now’s your chance to catch up on his awesome tips, including:

Killer hack: Be the best at everything

Source the best materials. Have the best branding. Write the best ad copy. Engage the best influencers. If you can come out of the gate with the best possible product and the best possible marketing you can give it, you’ll stun the marketplace.

Watch out for crowded spaces

If there are a number of established players in a product space with 4.5 star ratings, you might be in for a rough time if you try to go up against them. Sure, you might be able to craft a product worth at least 4.7 stars, but that’s not going to make a difference in the eyes of your average consumer.

Split testing can be your best friend

Why go all-in on one marketing strategy if another one might be just as good, or better? Take advantage of split testing to see what the market responds to better, so you can make more effective use of your marketing spend.

It was great hearing Casey Gauss’s talk!

Key takeaways:

• Being the best at everything is one way to win
• Avoid crowded markets, and
• Use split testing

Connect with Ryan

Find more amazing podcast discussions on FreedomFastLane.com.

• On Facebook
• On YouTube
• On LinkedIn
• On Twitter

Connect with Casey

FInd out more about Casey’s company at https://viral-launch.com/.

• On Twitter

I recently went on the Life After Business podcast with Ryan Tansom.

His show focuses on business exits and what life can be like on the other side after a big payday.

After my own big exit last year I am back to brand building and growing Capitalism.com with events like the Brand Builder Summit and The Capitalism Conference.

My mastermind group The Backroom is geared towards helping entrepreneurs build sellable businesses so they can have an 8 or 9-Figure exit of their own.

I just had a blast going to Kiev, Ukraine to meet with and talk to lots of entrepreneurs.

In this presentation I talk about how to kill it in the physical products space.

You can make a million in a year

How can you do it? Offer 3 to 5 products. Price them at $25 to $35 each. Sell 25 to 35 of them a day. If you can keep that up, you’ll have made a million dollars after 12 months. It’s a simple formula, but It’ll take hard work to get to that point and keep it up.

Build a community of superfans

If you can find a thousand people who are really interested in what you have to offer - whether it’s through Facebook, Instagram, a blog, or whatever - you can find 100 people in that group who to become your brand’s superfans. They’ll buy your products at full price and incessantly rave about how awesome your brand is to their friends and family online and offline until they buy it to get them to shut up about it.

Who wouldn’t want fans like that? You can find people that dedicated by targeting a superniche in a way that really speaks to them as human beings, even in a market that seems otherwise saturated.

Don’t worry about how well everyone else is doing

Don’t feel like you’re a “bad” entrepreneur because you’re “only” making hundreds of thousands of dollars a year when you see others who have scaled up to 7, 8, or 9 figure success. Even multimillionaires have their insecurities. It’s all about the chase to live a life on your own terms, not someone else’s. Don’t lose sight of that.

Key takeaways:

• There’s a simple formula to become a millionaire in 12 months
• Target a superniche to build a faction of raving fanatics for your brand, and
• Don’t focus on how well others are doing.

Connect with Ryan

Find more amazing podcast discussions on FreedomFastLane.com.

• On Facebook
• On YouTube
• On LinkedIn
• On Twitter