Capitalism.com with Ryan Daniel Moran

This is part one of a two part discussion with Patrick Donohoe, is the go-to wealth management guy for Ryan’s wealthiest peers and today’s discussion centered on the mindset for wealth.

 

What are the first steps that happen when working with a financial strategist like Patrick? You will be immensely surprised — and get ready think about answers to really hard questions.

 

Key takeaways

[3:15] Patrick made his money in financial services. He shares his story, from moving van to where he is today and the mindset change that it all required.

 

Mindset will dictate your success [7:50] Having a lot of money does not mean that you will be wealthy. The one thing you have to do is figure out what it is you want to be doing in the end, money can’t be the goal.

 

1. What do you really want?

2. Why do you want it?

3. Have you been acting in a way to achieve it?

 

The infinite game [13:00] Retirement is anti-life, the idea is to keep growing in ways that maximise your experience of life and ultimately contribute the most to society. Be adamant about growing.

 

The menu [14:15] The way Patrick counsels his customers isn’t so much about products and strategies, but more about stages:

 

1. Certainty — no consumer debt, adequate reserves, healthy savings.

2. Vitality — you use your money to fund a fulfilling lifestyle.

3. Freedom

4. Independence

 

People are predominantly in the first and second stages. And a lot of people come to Patrick while in those 2 first stages — people are afraid.

 

Graduating from the Vitality stage [16:56] Graduation isn’t going to happen if you’re not taking a vacation.

 

With all this talk, Ryan begins to suspect Patrick’s work really isn’t about selling his customers products… Helping them find out who they are and what they want is more like it — and palliating their blind spots!

 

Captive [19:05] Patrick explains what Captive Insurance is — an insurance company you own that provides protection against legitimate business disruptions, and incidentally also serves as a tax ambiguity.

 

Passive cash flow = freedom? [24:00] Passive cash flow exceeding your expenses would sound like a good path to freedom? Patrick challenges this: freedom is a mindset.

 

First thing first is you should have a good bookkeeper just to get a sense of how your business is doing objectively.

 

The gap [26:00] The difference between what a person is and what a person wants is typically twofold:

 

1. Ignorance.

2. Discipline.

 

We are all our own worst enemies.

 

Social conditioning [27:51] There are a million possible financial strategies, but the way we are taught to think about money:

- It is the root of all evil

- Rich people are bad

- Money and time are correlated

 

So addressing those ideas we have — what is freedom, what is time, what is money is the first step to defining what the vision for your life should be.

 

What is your purpose, your reason, your soul?

 

Worthwhile pursuits [31:00] Due diligence skips over the people part… if you strip all of the numbers away, is there something there that still matters?

 

A business owner’s values and how they align with the business itself, as well as what their goal is in the long term are good predictors of a business's success.

 

The catalyst to eventually making it is the people running the company, their “why”, what they are after in life.

 

Losing [33:40] Who you are and how you act when things are going south say a lot about you… Patrick will not invest in a business owner that has never lost money.

 

Pause for some decisions [36:17] Before tuning in for part two of this in-depth discussion with Patrick, Ryan wants you to decide what you want and what you’re doing all this for. Decide what your worthwhile pursuit is.

 

Tune in next time, for the number one investment with the highest ROI!

 

Thanks for listening!

Direct download: TOP_7_29_REV2.mp3
Category:Business -- posted at: 5:00am EST

You want to start on Amazon, but you don’t know where? Or how? Or with what? Ryan helps you find the sweet spot and one sweet offer.

 

Key Takeaways

 

So, what are you selling? [:38] Ryan breaks down 3 criteria for choosing your first product — he advises you do them all together.

 

Criteria 1 [1:34] Focus on really big markets. Niche products and smaller markets will only ever provide small profits.

 

Secret [2:58] Big brands are crumbling… They can’t release products fast enough.

 

Criteria 2 [4:00] Choose products that you can differentiate.

 

Criteria 3 [7:39] Before you choose your first product, choose your second and third products because:

 

3 to 5 products x 25 sales a day x 30 dollar price point = Million dollar business

 

It’s an insurance for the medium term and a faster route to profitability.

 

Now I have to pick 3? [9:37] Pick a person, someone you are targeting or marketing to: do they have 3 to 5 things that they buy on a regular basis?

 

Make a decision [10:21] You can let the Million Dollar Brands training break this down step by step for you for free.

 

Thanks for listening and get in touch with Ryan on Instagram @ryandanielmoran

Direct download: FFL_7_22.mp3
Category:Business -- posted at: 3:55pm EST

Today’s episode is a talk Ryan gave at the Health FX event. He is speaking to people in health and fitness crowd, reminding them they are navigating one of the most opportune markets in recent history.

 

How do you Yoda-fy your audience — and why would you even do that? Ryan explains how to leverage your audience’s trust into a business building journey.

 

Key Takeaways

[1:29] The health and fitness industry is in a unique position in the entrepreneurial marketplace — it’s easier to build an audience.

 

[3:51] If you really want to make a difference and believe in sharing a message with the world, don’t waste your time, energy and attention trading clicks for dollars — build a long term asset, and build long term customer value.

 

[7:05] Here is what a million dollar business looks like:

3 to 5 products

20-30 sales per day

30$ price point

 

And what you need to take it off the ground is a 10k audience.

 

[8:47] Stop trying to reverse engineer what other people do successfully. Build for your existing tribe, serve them first and foremost.

 

[9:31] A brand is outsourced trust, and its asset is the audience. That is the basis on which almost all business acquisitions are made.

 

[10:56] Big health and food brands are quite agnostic as to where their profit comes from, but they are nowadays unable to innovate as fast as the consumer (information sharing has seen to that).

 

So if you have built an audience and trust, they will give you money — lots of it — to gain access to that asset.

 

[14:11] People will hand over leadership to individuals that they trust, and you are already leading your audience on a journey. You have their trust. Your job now is to show them how your products help them navigate that journey.

 

[16:00] The way we talk about physical health, mental health and lifestyle health has evolved rapidly in the last 15 years and as a result there a massive amounts of smaller communities waiting to be led.

 

[17:55] Yoda-fy your community and let them take it to the rest of the world.

 

Thank you for listening, it means the world.

 

Mentioned in this episode

Capitalism.com/FFLpodcast

Contact Ryan on Twitter @ryanmoran

Contact Ryan on Instagram @ryandanielmoran

Direct download: WWW_7_22.mp3
Category:Business -- posted at: 5:00am EST

John “Genie” Ruhlin makes his money through Giftology, a company he started 19 years ago by accident! It has now grown online courses, investment and consulting branches.

 

Did you ever receive a gift so thoughtful you still think about it? John talks us through the importance of giving in building relationships as well as how to give comfortably, but more than is reasonable!

 

Key takeaways

[3:05] John has started taking equity in companies to help them turn around. Why do people trust him to do that? He attributes his success in these ventures to surrounding himself with people who are smarter than him, starting with his partner (who people sometimes believe is a figment of his imagination).

 

Ryan has met Rod, so he can vouch for John’s sanity in that regard.

 

Convergent expertise [5:40] Having a complementary skill set in your partner is key and while Rod brought operational skills and strategy, John provided marketing skills and relationships.

 

Looking for a Rod [7:20] Ryan sends a message to the Universe: he’s looking for his very own “Rod”.

 

Dig your well before you’re thirsty [9:01] 3 years before ever meeting him — out of the blue and without any expectations — John sent Ryan a Cleveland Indians memorabilia box in the mail: just because he liked what Ryan was doing in the world.

 

The warm circle [13:50] Who are they and how do you identify them? — start with the people who are paying you, clients past and present, referral partners, influencers, vendors, mentors, advisors… Check for everyone who has believed in you — you may be surprised how many that is — and show them you value their contribution to your relationship.

 

John shares a cool resource for the Cap.com tribe:  referralswithnoasking.com

 

There are no metrics for random acts of kindness [19:05] Human beings are wired for reciprocity, so trying to quantify relationships for a measurable ROI is bound to feel awkward and fail. Give with no strings attached.

 

Connecting for opportunity [25:04] If you are resetting in your life or pursuing something new, make a list of 10 people in your warm circle and send them a hand written thank you card for how they impacted your life, book a time with them to catch up on THEM, what they currently want, do and need.

 

John advocates going a step further and shocking them with kindness! He shares a few stories of how he did just that and how the relationships he was building actually evolved.

 

Promo products are NOT gifts [31:46] Gifts are recipient oriented, not brand oriented. Giftology will never put your logo on a gift and neither should you.

 

There is a sweet spot for comfortable and thoughtful gift in terms of market value, and that tends to hover around the price of a nice meal — 200 to 1200 dollar range — so not a trinket and not a Rolex. The gift should be a tangible reminder of the relationship.

 

Gifting is not an afterthought [37:11] so much so that some of your marketing budget should be diverted… not to 20 000 people but to the 200 that matter most.

 

The Indians await! [42:04] Ryan wraps up the conversation by asking John what he recommends people shift in the way they think about relationships.

 

Thanks for listening!

Direct download: TOP_7_22.mp3
Category:Business -- posted at: 5:00am EST

Ryan shares how to get customers and then get them to buy from you, even when humans convert and buy more on a one to one basis,

 

This is an excerpt from a keynote Ryan gave at Seller Con in which he shares the tactics of converting.

 

Key Takeaways

 

Building an audience [1:40] for the next 18 to 24 months from this keynote, the organic reach is on Instagram.

 

1. Document the growth of your business — document everything, publicly.

2. Spend 10$ a day on ads to get followers.

3. Reach out to everyone who follows you or comments and say: “Thank you!”

4. Send your following to a first-in-line group.

5. Post every review, every piece of love, photos, all of it where you are documenting your journey.

2 types of audiences [3:17] Ryan presses pause on himself and breaks down the types of audiences and people usually only focus on one...

1. Awareness — audience for content.

2. Conversion — audience for purchase.

He explains how to profit from mixing those two types of audience you build, and it all boils down to one on one interaction.

Audience is the key to rapid growth.

Thanks for listening and get in touch with Ryan on Instagram @ryandanielmoran

Direct download: FFL_7_015.mp3
Category:Business -- posted at: 5:00am EST

Today is a rant-isode on the pursuit of happiness as well as an update on Ryan’s life and businesses.

 

Have you been wondering what’s in the works for Capitalism.com? Tune in for Ryan’s break down of his personal goals as well as the direction he’s taking for Cap.com

 

Key Takeaways

[1:56] Calm magnesium calcium tea is today’s beverage of choice while Ryan experiment to give up coffee.

 

Will you just keep winning? [2:30] Ryan speaks to the strange delusion that entrepreneurs who have big success tend to believe they will just naturally keep on crushing it. NOPE.

 

The year after selling his last business was met with a few acquisitions and some seriously humbling moments. It then took one solid year of wound licking to find his voice again and decide on the direction of Capitalism.com

 

Change of pace [4:06] under the Capitalism.com channel, the podcast will now follow a 3 times a week program broken into 3 themes:

 

1. Mondays: The One Percent — interviews and events.

2. Wednesday: Wednesdays with Wyan — behind the scenes of Ryan teaching and non-business related chats (therapy, bio-hacks, illegal drugs, God, faith and religion, Trump, North Korea, 2020 election).

3. Friday: Freedom Fast Lane — audience submissions, Q&A, old episodes, etc. (Be on the show! Or submit your questions at Capitalism.com/FFLpodcast).

The future of TOP [6:50] In the real world as opposed to the Internet marketing world, 10 million businesses are the equivalent of just starting out… Ryan aims at talking to more people that are successful outside of Internet marketing: The One Percenters from all industries.

Send some suggestions of people to talk to that have a net worth above 10 million dollars but aren’t talking about it… ryan@ capitalism.com

The biggest shift [10:00] C-Money helped Ryan see how selfish he is in business and in life. And though people tend to disagree, he always has had that voice asking “when am I going to get mine” and some of that is healthy, but building a tribe requires actual selfless generosity.

Happiness as a biological survival mechanism [13:44] Ryan has a new theory that biologically we are wired to survive, and happiness is what occurs when your brain thinks it’s doing it. So what is the best way for us to survive and increase happiness? Ryan explains giving without expectation as a mechanism for tribe unicity and standing.

Pursuing happiness [16:34] Ryan has distilled the 2 ways for him to pursue happiness as opposed to the things he believes will make him happy.

1. Service — giving without expectation.

2. Sleep — enter the coffee fast.

BBP [20:39] Max Kerwick and Ryan have moved the Brand Builder Podcast to its own channel now! Make sure to subscribe to the channel.

Shifting away from selfishness [22:27] this is Ryan’s current attempt at getting back to what business should be — making sure your customers get what they want — as opposed to how rich you can get, or how little you have to do:

- Reimburse training course clients after they complete the program.

- Divert some facebook advertisement funding for an entrepreneur scholarship or investment fund.

All selfishness is fear based — no one who is truly happy is selfish.

Xenu’s secret plan [26:58] You can 3 step your way to a million, but after that you have to become a different entrepreneur — there is no recipe or plan for going beyond that.

In that vein, Ryan has begun putting together a curriculum for the backroom that aims at getting entrepreneurs ready and upgraded to take their own business beyond the million.

Wine With Wyan on the Woad [29:01] Ryan has a traditionally published book called 12 months to 1 million coming out in May 2020 and he will probably tour for it, but he’d really like to try his hand at touring earlier than that… If anyone listening can gather 50 business people, Ryan would gladly take his show on the road and go talk, drink and record with you!

Also, where do you guys consume live content?

@ryanmoranWant to join the team? [33:19] Capitalism.com will be looking for a full time “Podcast Manager” position, he explains what he’s looking for in terms of skill.

Also a “Head of Special Projects” for all the fun side projects… and a private equity partner, eventually!

[35:05] Not everything is going well, but Ryan realises that even if everything was going perfectly, his happiness would be the same as it is now, so the trick is really to seek happiness.

Thank you for listening, it means the world.

Mentioned in this episode

 

Capitalism.com/FFLpodcast

Contact Ryan on Twitter @ryanmoran

Contact Ryan on Instagram @ryandanielmoran

Direct download: WWW_7_15.mp3
Category:Business -- posted at: 5:00am EST

Today’s episode is an off the cuff talk Ryan gave as Erzra Firestone hosted at Digital Marketer for their War Room Intensives.

Ever want higher level information? This was for a room full of already established business owners so expect it!

 

Key takeaways

[2:53] Ryan introduces himself and recounts how he stumbled into the war room 10 years ago — coming full circle 10 years later today. AS well as how he found himself in physical products.

[8:40] Build assets that can eventually pay cash over time. But short term results are currently king, Ryan offers a game plan for building for the long term.

[13:29]They say that WWII got us out of the depression, but how does destruction stimulate the economy? It doesn’t but WWII left a lot of unused assets (we didn’t need to build bombers anymore, so we used those factories to build washing machines). Ryan explains that there are a lot of unused or undervalued assets in the world today whose purposes can be changed.

 

Get an asset [17:33] First, get an email list or social media following where you know you can get at least 10k people to see it. 10 thousand people is an asset.

 

Turn people into customers [20:06] So now that you have your asset, don’t optimise for numbers — that’s just an offer, short term game — turn those people into customers and a business, through customer experience.

 

Build a business [22:00] Native deodorant build a small but happy customer base and within 12 months of applying marketing knowledge, they had an asset worth a million a month selling 2 dollar deodorant. P&G bought them out 18 months in for 100 million cash.

 

Add assets to your business [30:05] Gary Vee is a good example. At any point he wants to add another revenue stream, he has the systems, the audience and the investors. Cash is an asset, relationships are an asset, traffic, attention, network, brand is an asset.

 

Build a brand [32:50] Brand is the promise that something will be fulfilled. Ryan gives the example of RX Bar started by some dude named Peter in his basement who built an asset which sold to Kellogg’s for 600 million dollars — You probably know more people, you have more resources, access, expertise, money and you know more about marketing than Peter did.

 

Cash is not the endgame [38:40] People are not buying cash flow and profits, people only buy assets that complement their other assets. Unilever bought Dollar Shave Club for a billion dollars, not because of cash flow, because of the customer list and the Youtube marketing systems and subscription services.

 

Recommendation [46:26] For the people who are aiming to leave something behind: trade cash for assets in the long term which will in turn generate more cash for you to invest in more assets.

 

Q&A [52:50]

Yes, get more assets, but the economy being where it is, is being a bit heavier on the cash side not a good idea?

 

What were Ryan’s tips on Amazon for Brian Lee?

 

If we have a physical products brand and a decent social media following, should we keep building up the community we have?

 

Politics! [1:03:28] Ryan is cut off from a political conversation by Ezra!

 

Thanks for listening!

 

Mentioned in this episode

Million dollar brands experiment: capitalism.com/brands

Direct download: TOP_7_15.mp3
Category:Business -- posted at: 5:00am EST

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.

 

Key Takeaways

[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.
Thanks for listening!

Mentioned in this episode

Capitalism.com

Direct download: TBT_7_08.mp3
Category:Business -- posted at: 5:00am EST

Ezra Firestone’s business spent 13 million in advertising and generated 50 million in revenue from one brand in the last 30 months.

 

He has learned what it takes to scale an offer, which differs from building a brand to 6 figures.

 

Want to know the commons problems 6 figure + entrepreneurs face and what to do about it? Tune in!

 

Key Takeaways

[4:21] Ezra introduces himself and Ryan “Ice Cream” Moran!

 

Mo’ money mo’ problems [5:50] The 5 common problems of 6 figure + entrepreneurs:

1. Scaling ads profitably

2. Funding

3. Hiring, sourcing and training

4. Diversification of traffic

5. Growth plateaus (1, 5, 10 and 20 million)

Grow your back end [8:21] The game is won or lost on the back end: if you look at what any brand that has scaled really big has done is add more products.

There will be about a 15% increase in COA year over year — so you need to get more from every customer you have.

- Add at least 2 new products a year.

- Go all in on email — gifs in emails get higher clicks!

- Run an email sale every 6 weeks.

- Aim for 20 to 40% of your revenue from email.

Teachings from private equity [13:01] What Ezra has learned from his experience in venture capital consulting.

1. People who have grown brands to 9 figures think differently: your advertising revenue should always be reinvested.

2. The closer you get to a 50/50 customer mix of repeat to new, the higher your multiple.

3. User generated content — there is no better conversion asset.

Paid amplification [19:20] Ezra’s decade of experience running online advertising, gives him insight he freely shares on where the opportunities will be over the next 24 months.

- Instagram is projected to double (to 22 billion) between now and 2021.

- 90% of Facebook’s ad revenue comes from mobile for 6 to 8 seconds, Instagram is even shorter.

Considering the battle for video between YouTube and Facebook, this is where you need to go all in:

- Super short form videos — 5 to 15 seconds long.

- Content sequencing

The sales cycle has gotten really long: about 60 to 90 days so make sure all of these areas are tight to maximise your sales channels:

- Adjust your retargeting.

- Provide images for images for every available outlet.

- Focus on the story and only follow up with the product.

- Do some snail mail.

- Cross sell.

- Upsell on the checkout flow

- Bundle your products

- Price tier order bump (size up options 4oz, 8 oz etc.0

From driver to navigator [36:50] if you only drive you can’t see the mountains in the distance, or what is coming up. You need to free up your time to make it to events, meet people and stay at the forefront. You can’t do that while driving your business.

How are you to work for? [38:13] Ezra invites everyone to check themselves as employers:

2 people can get to low 7 figures

3-7 people can get to mid 7 figures

5-12 people can start to see those 8 figures

Do you give good benefits?

Do you have a comfortable work environment?

Are you investing in your employees?

If you want to scale you have to get good at human resources.

Mobile site on point [39:42] 85% of web traffic is mobile, you need a good looking mobile website.

The header of your head site on mobile is worth 10% of your conversion rate — update it make it nice and easy to use on mobile.

Like going to the gym [41:36] advertising is like going to the gym: will you see any results if you do it intermittently? No. Same goes for advertising, be consistent.

15 to 30% of your top line revenue should be invested in paid advertising all throughout the year.

The Halo effect [42:34] The 8 figure mark often happens in years 4-5-and 6.

Because you spend money to amplify your brand, you generate brand assets: customer emails, people who have bought before, pixeled audiences, etc.

Be premium [43:35] It’s just as hard to sell a cheap product as a premium one, and the premiums often have better profit margins.

The grind [44:32] it’s not about how much you work, it’s about what you produce: don’t burn yourself out, and make room for what’s important to you.

Business will fill the amount of time you give it, so it’s important to set a container on it!

And finally repetition creates mastery: be consistent — keep at your business.

Thanks for listening!

Mentioned in this episode

Max@brandbuilderstrategy.com

Direct download: BBP_7_8_REV1.mp3
Category:Business -- posted at: 5:00am EST

Today’s episode features Ryan’s fireside chat with Stephanie McMahon at the Capitalism Conference in January 2019.

 

Vince McMahon went from a trailer with no indoor plumbing, to declaring bankruptcy to a 6 billion dollar brand. Stephanie talks about what it means to earn your place, listening to your audience and finding your business’ ‘motor’.

 

Ever wonder how the biggest travelling show — 180 countries in 25 languages — in the world runs?

 

Key takeaways

[5:40] The WWE’s image in the media has changed dramatically in the last decade, and Ryan asks Stephanie to talk us through the 4 generation story of how it became the global brand and community it is today.

 

Listen to your customers and do your research [10:25] the WWE’s direct to consumer network was created because the audience asked for it, and because the market research showed the WWE fans were 5 times more likely to consumer online video than the norm.

 

There is no ceiling [11:30] Passion is the biggest motivator. You have to believe in your idea more than anyone, you will fail, but you have to own the mistakes, learn from them and apply corrections to succeed again.

 

XFL [17:09] Learning opportunities in the form of failed attempts and mistakes are important, Stephanie breaks down what they learned with the XFL — there are 2 huge lessons — in order to better do it this time around.

 

Big shoes you don’t have to fill [19:30] Stephanie talks about being her own person within the McMahon family and building her own story — be proud of the people you admire but don’t compare yourself!

 

But Stephanie is still insecure and struggles with self-confidence, she shares her dad’s advice.

 

Thank you’s [22:20] The WWE’s mission is to put smiles on people’s faces and fans have been thanking Vince for it since the beginning. Stephanie has now started getting her own thanks — this is the fulfilling part of the job.

 

Building a story arc [25:34] Stephanie loves being the villain! She details how the shows are broken down, from Wrestlemania to the monthly shows to the smaller drivers.

 

Adoption strategy [27:00] the shift to the WWE network caused a big dip in Pay-per-View viewership and overall company value in the beginning, but they knew it was coming and were prepared to take that hit.

 

Relaying the message is key but always trying to provide your consumers with an experience that’s worthy of their passion, always, in every way is the golden rule at WWE.

 

60 data scientists are now surveying the WWE’s customer base regularly and helped correct some mistakes along the way:

 

Trying to lock customers into a 6 month subscription was not a good idea — they don’t do it anymore.

 

Changing viewer consumption is difficult, and they are still learning how to do it!

 

#GiveDivasAChance [32:42] the changes in how women are represented in the company didn’t only come from Stephanie and the executive team trying to effect change, but also the fans who started the movement with #GiveDivasAChance.

 

Stephanie details the evolution of the women’s division since that hashtag trended worldwide for 3 days.

 

Influencer marketing [35:48] Ronda Rousey was brought in because she was always a fan so the relationship was a good fit from the get-go.

 

Recruiting and building professionals [39:13] the WWE recruits from all manner of professional sports, from UFC and MMA to the Olympics, Rugby, Capoeira and everything in between, looking for top athletes and bringing them into their top-of-the-line facility which offers a huge array of training from in-ring to life skills seminars and academic training.

 

A Career-launching platform [40:30] With the Rock and John Cena having become such huge stars, Stephanie explains the intentionality and strategy behind the story lines at the WWE. It starts with NXT (a performance center) which is a league built specifically for people to flesh out their characters — and where the fans play a big part in choosing who makes it to the roster.

 

A family of greatness [44:43] family comes first and work/life balance will never be a 50/50 thing, so it’s about establishing priorities.  Building her children's work ethic, kindness, respect for others and yourself, learn and grow is very important to Stephanie and establishing a strong family foundation is critical for keeping people together.

 

Abu dhabi [48:53] women were allowed to perform for the first time in Abu dhabi — women are often edited out of shows for countries with more restrictive policies — and a chant broke out in the audience “this is hope”.

 

Trying new things [51:14] it’s important to trust your gut, WWE is famous for trying new ventures and going all in. Stephanie talks about blind vs calculated risks and the constant entrepreneurial spirit with the WWE.

 

Everything you want in on the other side of fear. But you have to know what you’re going after and you have to see it’s success through in your mind.

 

WBF [56:14] was another endeavour that did not turn out as planned!

You will make mistakes and have failures, just don’t make the same mistake twice.

 

“Mistakes are tolerated up to a point, but excuses never will be.” — Vince McMahon

 

Calculating risk [59:06] is broken down to what you are willing to sacrifice and what the upside might be.

 

Caring for your people [1:01:37] employees are employees and the talent are independent contractors — and they participate in every revenue stream aside from TV and subscriptions — and there is no limit to how much they can earn.

 

Family drama [1:03:34] Stepahnie dishes! And shares some very touching family memories.

 

Branding for the future [1:06:12] Ryan asks what the future holds for the brand and Stephanie shares how perfectly timed that question really is: there are some conflicting opinions on the direction the branding should take

 

Although Stephanie is not at liberty to go into details, she does talk about how social media and Internet platforms hugely factor into the branding strategy.

 

Business structure [1:10:10] Stephanie details the company’s multiple revenue streams and division structure. The WWE is the largest traveling show in the world!

 

To stay relevant, you have to always keep up. The WWE is currently codifying reinvention and to do that, you have to find the one thing you cannot change, the core of what you do.

 

QA [1:16:40] the audience are all fans!

1. On working with family?

2. How do you market to different cultures?

3. On metrics in brand repositioning?

 

A story about a story [1:23:50] Stephanie shares how life imitates art with her relationship with her husband.

 

Before signing off, Stephanie shares a few last words to the entrepreneurs in the room.

 

Thanks for listening!

 

Mentioned in this episode

8 figure exits: Capitalism.com/8

 

“My parents mortgaged everything that they owned to make Wrestlemania happen, you gotta take calculated risks.” — Stephanie McMahon

 

“My mom was the CEO of WWE, so I always assumed women could be the CEO and could do whatever they wanted to.” — Stephanie McMahon

 

“Live as bold and as big as you possibly can.” — Stephanie McMahon

Direct download: Stephanie_McMahon_How_WWE_Became_A_Global_Brand_1.mp3
Category:Business -- posted at: 5:00am EST

Keep your profit margins high, sell more and remain cool! Because your products don’t have to be the best or look the best in order to be considered premium.

 

Do you think that if you are selling the same thing as everyone else, the only way to compete is on price or reviews? NOPE!

 

Tune in for Ryan’s 3 lessons, 2 bonus lessons and one secret secret lesson.

 

Key Takeaways

[1:05] Ryan once paid someone to dress him — you can see the results on cardboard Ryan: have you ever seen someone who looks more like a dad!

 

[2:52] Ryan shares the story of a Sheer Strength competitor who was outselling them on one product 2 to 1, even when they were higher priced and lower quality.

 

Lesson 1 [5:40] Branding — and pricing — is all about who you target and how your product is specifically for them.

 

Lesson 2 [8:35] By making the decision to be a higher price brand, you force yourself to target a different class of person, then match the experience and branding to the price you want to command!

 

Ryan lays out the Glenlivet/Glenfiddich conundrum… There is a perception of value and quality in price!

 

Bonus Lesson 0.1 [:] Influencers are not spokespeople!

Influencers recommend products and depending on their level of authority and actual influence in your product niche, garner sales results — spokespeople are famous people paid to endorse a product they may or may not use or even relate to.

 

Lesson 3 [12:54] The only reason you should ever lower your price is to get your customers to buy your other products — a lost leader of sorts — but your other products need to be high margin products.

 

Ryan makes his argument byway of the essential oil diffuser as a gateway into a lucrative market.

 

[23:00] Don’t just sell a product, sell to a person — it’s the only way you can build a line of products and expand your offer and raise your margins.

 

Bonus Lesson 0.2 [23:54] the way you can have control over your margins is if you are seen as the only solution to a problem — a monopoly of sorts.

 

Ryan pitches essential oils for cats as an example of a people-oriented niche to exploit.

 

[27:38] If you don’t know who your person is, you have 2 options:

1. Ask the people already buying your product: why?

2. Choose yourself as an avatar customer!

[31:06] Wrapping up, if you’ve found value in this let Ryan know in the comments!

Oh! Secret, secret bonus lesson 0.3 [31:52] you can have multiple brands that sell the same product and the only difference is the person you are targeting!

Thanks for listening!

Direct download: FFL_7_001.mp3
Category:Business -- posted at: 5:00am EST

Aubrey is the man men want to be and the man women want to be with. Living on a compound with Aubrey would mean he would get all the women and own all the resources.

 

Today, Ryan and Aubrey talks about balance as a way to having it all — ever get tired of your ham sandwich? There isn’t only one menu...

 

Key Takeaways

 

Habits or ideas? [1:53] what creates success? Aubrey explains that most of his success came from moments of furiously brilliant inspiration followed by long and often aimless recoveries. Structuring his habits was a way for him to achieve a more even keel.

 

Having it all [3:47] there is no need to choose, but you do have to dedicate yourself to being fully present: 30 minutes of fully invested time is worth more than 3 days of half interested presence.

 

Time and energy are the limiting factors — to be present and invested, you need the energy to spend the time.

 

[5:34] Balance (or counterbalance) is the key to a well rounded life, Aubrey details what that means for him.

 

The grind [9:43] Entrepreneurs often need to validate themselves externally, which leads to an inability to let go once you’ve reached a goal.

 

You need to get comfortable with yourself, become aware of the psychological traps that keep you grinding and finally: identify what you are essential for within your company, and build a team that lets you leave to better come back.

 

Sex and relationships [16:43] society has a lot of rigid ideas about what relationships are but Aubrey’s sample group (athletes, CEO’s, entrepreneurs,etc.) are all in monogamous relationships, cheating or wanting to cheat, becoming more and more resentful.

 

He shares a bit about his journey towards an open relationship and how it’s helped his couple(s) see their true selves unencumbered by resentment.

 

Crumbling systems [23:03] governments, religions, society… Aubrey thinks humankind is going through a series of radical metaphysical shifts, beginning with the realisation of self which includes divinity, love and sovereignty over our own bodies and minds.

 

The crumbling of “parental” structures requires an increase in personal responsibility and structure.

 

Bad habits [26:37] are lost through knowledge, Aubrey moved towards a lot of good practices through gaining empirical knowledge and removing the intellectual wiggle room not to do them — cold showers are good, but you need every reason you can get to turn the hot water off!

 

Pain and discomfort [28:49] the ability to push through beneficial discomfort and to collapse your fear surrounding something may be the defining characteristic of really successful people.

 

Aubrey on wrestling tree cockroaches to collapse your fear into courage.

 

In a society of abundance, (beneficial) discomfort is a healthy way of getting the yin to your yang and creating growth.

 

Eat a weird lunch [36:45] Chapter 8 of Aubrey’s book was the most difficult to write — being academic is a tough grind!

 

Who does Aubrey want to be when he grows up? [38:55] Don Miguel Ruiz, Ted Dekker, Don Howard Lawler.

 

Delayed braingasm [41:32] the layers of the onion of existence!

 

One layer is universal love (god)

One layer is consciousness (soul)

One layer is the physical body

 

The toothpick is the self, it always touches love, consciousness and the physical body.

 

You can choose to identify with any of those layers, or recognise that you are always in contact with all of those dimensions — and that the onion is entirely made of toothpicks!!

 

Thanks for listening!

 

Mentioned in this episode

Capitalism.com

Direct download: TBT_7_1.mp3
Category:Business -- posted at: 5:00am EST

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

Direct download: CapFeed_BBP_7_1_BBP.mp3
Category:Business -- posted at: 5:00am EST

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

Direct download: TOP_7_1.mp3
Category:Business -- posted at: 5:00am EST

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