5 Days To 7 Figures: My Search for The Next Sara Blakely

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Welcome back to capitalism.com the podcast that the best looking entrepreneurs listen to. You look great today. Hey everybody, I'm Ryan Daniel Moran and we just completed@capitalism.com something I've never done before. I taught my rear end off. I just taught for five days straight in a new challenge that we started called five Days Straight seven figures. And the idea was to spend five days together to build your seven figure brand, specifically to choose your target audience, your product line, your launch plan and come out with a crystal clear plan of building your million dollar business. And one of the things we had our students do is do homework that had them describe their plan and their vision. And my team is now reviewing all of those pieces of homework and conducting reviews and doing one on ones for these graduates of this challenge. And it was a hundred bucks. For a hundred bucks I taught for five days. They left with this crystal clear plan about how to build their business. And then my team and I are reviewing these plans and giving them feedback on it. It was a full on sprint for my team and it still is because we're going to be doing these one on ones for a couple of weeks now. We busted our tails for this and it was a blast. At the time of this recording, we don't know yet if we're gonna do it again or if we're gonna sell the recordings or if we're gonna do anything with it. We think we will, but we're not sure yet. But if we decide to release these, I would strongly suggest that you get in. I've never had so much positive feedback from anything I have done in my audience outside of our in person events. We just went full on for these members and had a blast doing it. And people were just pouring their hearts out sometimes saying that they finally had clarity over what their business was going to be. And they left with a clear set of action steps and in some cases partnerships with people or conversations with other people in the group who were ready to help them or partner with them. So it was immensely rewarding. It felt like camp. Everybody was having this high and then the next week it was, oh, I miss my people so we might do it again or do something special for those people. But in this episode today, I wanna share with you some of the cliff notes from this challenge because there were a ton of takeaways that resulted from this five day experience. And to kick things off, I want to share with you a story that I told during one of the events, one of the days of this five day challenge. And it's the story that started in 2013. In 2013 I did a little pilot launch for a mastermind group putting together and it was just a bon for anyone who bought a product called Amazing Selling Machine through my affiliate link. And I did, I think a six month mastermind with anyone who bought my my that program through my affiliate link. So I got a commission for it and I did this bonus mastermind for 25 people. And the first person who purchased the program was a man who was in his mid-40s. And I remember being on the phone with him and just talking about the experience and talking about what he wanted to build and how we were both going on this journey of starting an E commerce brand together and we had both had other businesses before and he expressed to me that he was in between things, he was in between careers and he was looking to start something new. Now I didn't know this at the time. He told me years later that he had lost everything in his previous business. He had had lost a lot of money, a lot of credibility, a lot of relationships because things didn't go how they expected to. And he was starting over, completely over in his mid-40s. Well, I helped this man with his business for the duration of his time in the Mastermind but we didn't keep in close touch after then. So we were in touch for a couple of years and he would come to our events and he was plugged in for a little bit. But he started running his business and I didn't really hear how things were going. I really. We lost touch after a couple of years. Well, when I launched the Capitalism Fund, he invested in the fund, which is awesome, right? I was really excited that one of my old students was coming back to invest inside of the Capitalism Fund, but I didn't have a whole lot of interactions with him outside of him wanting to hear about the experience, hear about the opportunity and putting money into the fund and all that. Well, at the first fund meetup, seven or eight years after we first spoke on the phone that day, he was at my house for our first meetup for the Capitalism Fund. And he shook my hand, said it was great to see me and I shared in his sentiments. And he said did you ever hear the story about my other brand? And I told him that I didn't know. I assumed he had been modestly successful, but no, I hadn't heard much. And he said, well, I had a nine figure exit. For those of you who are bad at math like me, that's $100 million he had $100 million exit. And this man who was not just in between things, but had lost everything, had now had a nine figure exit and was investing in the next generation of success stories for students here@capitalism.com and that was such a moment for me, a moment of realizing the impact of your work and also just what can happen when you give your all to something for a few years and also a reminder that you can screw everything up into your mid-40s, late-40s, early-50s, and then finally have something hit and you have your big payday. And it was so rewarding for me to hear this from someone who was starting with nothing, with a new idea, had had a big exit and was now investing in our next group of success stories. I shared that with the attendees of this five day challenge because I knew that there were at least four or five people in that audience, in that group of people who were starting new businesses, going on this journey, who in a few years are going to have an exit. They're going to have a breakthrough, they're going to have a million dollar business, they're going to be successful. And it got me so fired up to think that there is an eight figure exit or a nine figure exit in this little crew, in this little crowd. And it makes me so excited to think that there's a next Sarah Blakely listening to this podcast right now. There's a future Mark Cuban listening to this episode right now. There's someone who is having a seed planted in their mind and they're going to go on to do something great. I often talk about how I've had 500 or so seven figure case studies, seven figure success stories. I'm proud of that. But I'm excited to think that there are still hundreds of seven figure businesses, thousands of seven figure businesses, maybe a million million dollar businesses listening to this podcast right now, attending that five day challenge. To think that the next Sara Blakely is out there listening to my stuff makes me want to sprint to them, find them and help them. I get so excited at that thought. And I kept that thought in mind as I was sharing this five day challenge with my audience because I want to find that next Sarah Blakely or that next Mark Cuban or that next Aubrey Marcus who has an eight or a nine figure exit. So I'm going to give you the Cliff Notes to all of what we talked about inside of this challenge with you because I want to call to that next Sarah Blakely or that next Mark Cuban. Now the first thing that I did inside of this challenge was I needed to pound it into the brain of all of these attendees that they can do this. That building a seven figure business is still just four products at 25 sales a day at a $30 price point. And so I blasted into their brain examples of students who have done exactly that. We showed video clips of people talking about their business. We showed case studies and success stories of people who started with nothing, who built this business. And that was a good start. But I made all of the attendees type into the chat, I can do this. And I did that because the brain has this, this bias called consistency bias. When you say something or when you believe something, you find more evidence for it. So I made my students type I can do this into the chat and then every day report what evidence they found to support the fact that they can build a million dollar business. And so instilling that belief was the first thing that we did in this challenge together. The second thing that we did together as a group was we went through the importance of knowing your whole, knowing your person, not what product you sell, not where you're going to sell it, or even what your launch plan is. It's first discovering that person. Because when you know who your person is, then you can launch product after product after product to the same person and have a compound effect. One of the mistakes I see entrepreneurs make is they start selling a product and it gets modestly successful. They get to 25 sales a day and then they launch a completely separate product that has nothing to do with the first one. Whereas if they had focused specifically on the person that they were selling to, they could very easily launch products 1, 2, 3 and 4, and it'd be all around the same customer base. The example that I shared with them was the example of Bill Glaser. You may have heard the podcast that I've done with Bill. I've done a couple with him here on capitalism.com and Bill is the founder of a company called Outstanding Foods. And Outstanding Foods is a vegan snack company. And I invested in them. I'm not a vegan, but their snacks are fricking delicious. And Bill's first product was a bacon flavored chip and it bombed. It did not do well. And his second product was a meal in a bag puff. And it did okay. And most people would have given up at that point because the products weren't working. But he had his person in mind. It was the vegan snacker. So they launched a third product, which was pigless pork rinds. Vegan pork rinds. And they crushed. They're now in Trader Joe's, Whole Foods, Wheatsville, Target, they crush it online, they have Snoop Dogg talking about them, Rob Dyrdek talking about them. They're $100 million company because this third product crushed. And they could have only done that if they were really clear on their who. So knowing your who is the guiding light to know if you've got a brand that will work or not. Another example that I used was taking two different types of people. The examples I used were a college female bodybuilder and a 51 year old male divorcee. And what I said was that when you have a college female bodybuilder, you could make a list of products that that woman would buy and she'd buy protein powder, a thermogenic fat burner, workout bands, a lifting belt, pre workout BCAAs, protein pancake mix, lifting gloves, on and on and on and on. It goes from there. And then I said, and then if you look at the 51 year old male who's new on the market because he's divorced, well, what does he buy? Well, he buys protein powder, thermogenic fat burner, workout bands, a lifting belt, BCAAs, the exact same products but the way that they would be marketed or positioned would be completely different. They would be priced completely different. They would have different labels and packaging and different ads and different people would be in their, in their ads and on their packaging and they'd have different influencers and they'd have different upsells and it would become a completely different brand. And this is why nailing the person is so darn important. Because if you don't know that, then you're just selling products that looks exactly like everybody else. This is such a hang up for so many entrepreneurs where they think about what product they should sell and rather than who they are selling to. But if you're selling protein powder, you could sell protein powder to vegans, to female bodybuilders, to 51 year old male divorcees, you could sell it to an older crowd, you could sell it to people who have arthritis, you could, you could target it to people who are recovering from some disease and it would be the same product, but it would be marketed and packaged very differently. That's what makes a brand. Even if your product is exactly the same, who you target determines how you show up and how you create the brand and how successful it becomes. Another example that I shared was Bulletproof, Dave Asprey's company. And Dave Asprey's first product was A mold free organic coffee. And he was selling to Biohackers. Well, coffee is coffee is coffee, isn't it? I mean, you can have different roasts and different flavors, but it's still just coffee. But he was selling to biohackers. If he wanted to be a coffee company, his second product would have been a dark roast or a decaf, but instead it was fat. It was MCT oil and then upgraded MCT oil and then brain octane and then ghee and then protein bars. And now he even has a fifteen hundred dollar stand that you stand on and you do squats on it and it vibrates. Calls it the bulletproof vibe. He has $15,000 retreats that you can go to. And he could have never done that had he just been thinking about, how am I going to sell more coffee. So what I did with this group of of challengers was we went through exercises to help them find their who. And when they knew exactly who their who was, then we could make the decision about what their products were going to be. And that was day three. In day three, we went exactly through what products they would sell to that crowd. And the way that I explained this is that your brand is like Yoda. You're the mentor, you're the guide for your customer. And your customer is Luke Skywalker. They're on a journey to become something. They're on a journey to become strong or to become healthy or to lose weight or to start a business or to become a parent or to go on vacation or to be closer to their family, to be a great dad. That's the journey they're on. And your job as the brand owner, as the entrepreneur, is to guide them through the obstacles that are standing in their way along that journey. So we created this list of products for each brand by simply asking the question, what does each person need while they're on their journey? What challenges do they need to overcome in order to accomplish their journey? To accomplish that state of becoming that journey that they're on, what do you need to give them that makes it easier for them to be on their journey? And so we covered that for a full day so that each person left with a clear set of products and even the order that they might launch it in. On this day, we also covered what channel you would use to take orders. And we went through the different options and talked about the benefits to each. And I gave the challenge attendees the assignment of picking one platform and one product and knowing that that was your next step. You know exactly what product you're going to sell and how you're going to sell it. So within three days, we had set the strategy. We had the confidence that we could do this. We gave them their who and their first, second and third products and how they would sell it. Really good start. But my favorite day was the fourth day because on day four, we went through the strategy to getting to 100 sales a day. And this is the big aha that so many people walked away with. And it was simply that, get ready for this. This is going to blow your mind. Getting to 100 sales a day is really getting to 25 sales a day four times. I know, Life changer, right?

There's sometimes a pressure that we take on ourselves of thinking about a million dollar business or even 100 sales a day. But you don't have to build a million dollar business or get to 100 sales a day. You need to get to 25 sales a day and do it four times. So the way that I explained this was.

It'S like building a highway. If you've got a highway, if you're building a highway, that takes a long time. It takes a lot of thought, it takes a lot of work, it takes a lot of ingred, it takes a lot of planning to get to build a highway. But once you've built the highway, you can put one car on it and then another car and another car and another car and another car. And building a million dollar business is exactly the same. You build your highway, that's your system, your strategy for getting to 25 sales a day. But once you've built that highway, it's as simple as adding another car and then another car and then another car. And each one takes you to 25 sales a day. Once you've done that four times, you've got a million dollar business. A very recent example of this is one of our students in the incubator. His name's Damian. I love this guy. He's been on the podcast a couple of times while sharing his pitch deck because he did a really good job creating a great pitch deck inside of the incubator. And Damian has been building his highway for a year. And the way he's been building his highway is by getting prototypes, building his audience, documenting the process of his business. He started a TikTok where he's just sharing what's working in his business and how he's developing this product. Now he hasn't taken sales yet, he's just documenting. Here's the prototype, Here is, here's the Developments of the business. Here's why I'm doing this. And he built a small but active following on his TikTok. I'm so proud of this kid because he's been just putting out content every day or several times a week and he's amassed about 20,000 followers and he's built a hot list of people waiting to buy his product. And it's like four or five thousand people deep. Awesome job. As of yesterday. He was messaging me yesterday that he had his launch day. He was just taking pre orders and it was yesterday. And he did $5,000 in sales on launch day. Amazing, right? He sold hundreds of units on day one. Just so proud of this kid to take thousands of dollars of orders on day one. And he'll build off of that momentum for weeks, months and years to come. Since he built the highway, he'll have a very easy time getting to 25 sales a day and then as a result, he'll get to the next product which is 25 sales a day, and then the next product that has 25 sales a day and he'll have a million dollar business. I went through other examples as well about ways that you could do this, ways that you could build the highway. And one of my favorite ways to do this is simply to build a Facebook group for your target audience and to pre launch your product in the Facebook group. The example that I used was someone who's been on the podcast several times, Jenna and Travis Ziglar. They built a Facebook group that was for people with dry eye syndrome. And it started with 800 people, just this small crowd that they were giving a lot of love and attention to and they were launching products to them. And as a result of having 800 people in the group, they would come out of the gate with a launch and have, you know, 50 to 100 sales of a product which is a great start to a brand new product. And they do it at high price points and get lots of reviews for it. It that's building your highway. But as a result of building this group, the group started to grow and swell and get and become like this, this really responsive audience to the point where they now have over 17,000 people in the group that buy from them over and over and over again. That's the power of stacking the deck, as I call it. You build up this group of small but loyal people who will buy from you, give you that, that launch audience, give you reviews and get you off the ground to having a business that takes 25 sales per day. Per product. Now, the exciting thing about this is every single one of the examples that I gave started really small. Damian took a few hundred orders. After a year of planning, Travis and Jenna were getting 50 sales for a product with a list of 800 people. I give an example of someone named Sophie who had a tiny little audience and did a Kickstarter launch that did about 25 or $30,000 on her Kickstarter. These are all really good base hits. But every single one of these businesses is then in a position to grow rapidly from there. Travis and Jenna grew to mid seven figures. Sophie, who had this reusable lunchbox in this waste free business, grew to eight figures. Damian will have a seven figure business. It's all about starting with that small audience and then scaling from there. And so we went through the tactics of how to do this inside of the challenge. And it was at that point we had everybody submit their homework and we're going through them as a team right now and giving people help on how they can do this. And this was such a fun challenge because people were getting results right away. And I think there's a chance that we might make this challenge sort of the first thing that people go through when they become a part of the community of capitalism.com because it was such a beautiful launch pad for people to speak our language and know what their product is going to be, know what their business looks like and get help right off the bat. And a lot of people decided to work with us by joining the 1% as a result of going through this challenge. On day five. We just did Q and A. We went through people's plan. We helped them get really clear on what their business is going to be and just made sure that they left with a crystal clear plan. What we're going to do next is I think I'm going to go live in that little community, in that Facebook group regularly just to keep people on track and keep them moving forward. Because I know that if I can give the next Sarah Blakely that big aha. If I can give the Mark Cuban that's in my audience that first click, then they're going to have the breakthroughs they need in order to build a million dollar business. I've never gotten so much wonderful feedback from something that I've done that was, you know, a hundred bucks. And I'm really excited about the momentum that's coming from that group. And I hope that you'll choose to be a part of, of whatever we decide to do with this moving forward. Whether that's doing the challenge again or buying the recordings or whatever we decide to do. But today I just wanted to share with you the overview of what we shared with this community because the results that they were getting were off the charts. I want you to know that it's not too late. There's still plenty of opportunity in building million dollar brands. There is still plenty of opportunity to build something that excites you. And there is so much time for you to do this right. Whether you are just starting your journey or you're ready for your next adventure, there is still plenty of opportunity in this space. And I'm so excited to be part of your journey. Thanks so much for being a loyal listener to capitalism.com I know that you can listen to any number of podcasts and I'm so honored that you choose mine. I'm rooting for you. Thanks for listening. I'll see you on the next episode.

I was bankrupt and crippled to making a million dollars in a year. And then I grew that business and kept growing it. So like my whole world changed financially very quickly. It was amazing how fast it was able to transition and like turn once things got rolling. Ryan in capitalism.com pretty much taught me everything I knew about E commerce and specifically branding was the biggest thing that I think capitalism really does well and they focus on teaching their students about building a brand and just teaching business to people. Like everything he teaches is stuff that he's done. You know, it's not like from theory that you're going to learn. So it's like all stuff that he's done. So I think the biggest thing that capitalism.com helps you with is that you're getting to learn from somebody who's done the exact thing that you want to do, which is the most important thing in the world. Like that's how you fast track your results. So if you want like the fast lane and to get your results really quickly, you go to capitalism.com and you have them show you what to do so you don't make all the mistakes and you get there really quickly. And it was the best money I ever spent because I went from bankrupt and crippled and all this other stuff to a million dollar a year business in one year, which is exactly what he teaches. And I was like, holy crap, this stuff works. So I was a, it was a very healthy exit and was able to let me focus on many other things in my life and not have to worry about that stuff anymore.

If you found value in this podcast and you're ready to go deeper. Here are three resources where we can help you. 1. You can grab my book 12 months to 1 million on Audible or Amazon. It has over a thousand reviews and it's the playbook to building a seven figure business. Second, you can join our community of entrepreneurs who are following a plan to build a 1% net worth by building businesses and investing the profits. You can get plugged in@capitalism.com 1. And third, if you're looking to go deeper and build a seven figure business that you can sell, you can work closely with us inside the Capitalism incubator and you can get on the waiting list and find out what we do over@capitalism.com inc. That's capitalism.com incident.