Capitalism.com Workshop: Grow Your Business To 8-Figures By Serving An Audience #FreedomFastLane

For you to get to a million to pass through 100k a month, you now have to introduce something into the system that already exists. Which for you means you need to deepen that product line. And you struggle with that because you don't really know what the person buys after they buy.

And so you have to ask them.

Build a business, invest the profits. Hey guys, I'm Ryan Daniel Moran and this is Freedom Fast Lane.

Hey capitalists. As you may be finding out, it's really hard to grow a successful business without a well thought out customer avatar. You need to know who you're serving, who you're selling to, and after you've got it dialed in, after you've talked to your buyers, the next product and the vision for the whole product line comes naturally. Ryan Daniel Moran recently held a workshop at his lake house for entrepreneurs who are looking to build massive brands. This is a behind the scenes Segment to the 8 figure exits workshop we put on. To learn more about the next upcoming workshop, visit capitalism.com 8 that's capitalism.com the number 8. Hope to see you there. Enjoy the episode.

So question Amber. How far away does the number that you want or the, the multimillion dollar business, how far away does that feel to you right now?

I mean like if I'm just thinking like really like logical numbers wise, like, I mean like one product, there's like.

I mean, I mean personally to you, how far away does it feel?

It feels kind of far. I feel like, you know, because I don't know anything about audience building or anything like that, I feel like I'm just fighting online right now on Amazon just to keep everything going.

Do you wanna know how far away you are? How far? Inches. Oh, okay.

Inches.

Basically I want to be a full time eventer for adventure and that's really what it comes down to. Hey, before we get more of the audience, are you saying we just need.

More to offer our customers?

Which is why we need more products for. So before we go into a rabbit hole of how to build an audience, I can tell you right now you're already creating the perfect content.

It's those reports that you're getting.

That feedback you're getting. That's the content.

What are you laughing about.

And trying to digest?

That's the content. A. The actual content they're sending you is like the actual piece. The email they're sending you is content. I mean it.

Half of sales is getting through people's BS meter. So when you're posting that, I mean if, if you, if you Watch my social media. A lot of my attention goes to just like posting screenshots of Instagram messages. I get posting screenshots of YouTube comments. It's like it's all crowdsourced, it's all happening. C. Money and I had this big realization recently where we put so much.

Attention into creating content when really there's so much content going on all the time. Sometimes you need to talk about it. You seem to like, report on it, distribute it. We can go down this rabbit hole a lot, but.

That is the perfect content. And they're telling you what they like, which is what you will create content around, which we can go into. But if we. Audience building for product people is really hard because most people don't want to do it. And that's fine. A, you can get by with. You can do a lot more with less. Way less than people think. Way less than people think.

And number two, the way that we make audience building and sales a lot easier by focusing on product. So if you have a really great frickin product, it makes marketing a lot easier. So what is not a business is who is it that was selling turmeric and you said it was one of your biggest failures. Yeah. Because can you tell me why your product is better than anyone else's?

It's exactly the same product. There's different.

Different cap, different label. Yeah, exactly the same product.

Yeah.

Yeah. So a lot of times the conversation is like, can you tell me how to sell more turmeric than the next person?

Well, yes.

Yeah.

And then that person's going to call me and say, can you tell me how to sell more turmeric than the next guy? I say yes. And then the previous person's going to call me and say, it doesn't work anymore. And so it becomes about who does one piece of it better, which is a zero sum game. What is not a zero sum game is focusing on the other pieces.

I think our biggest thing though is like the content. That was a great Jim, thank you for that. But like on the podcast when Ryan, you and Max were talking about us and like we have to figure out soon, like who we're gonna serve. And I was. We were talking about this and we're like, we want to. Because when I get emails, like it's such a hit that people email us, they leave amazing reviews. We just got a video review of people screaming at.

Just having a lot of fun. So.

A couple points here. You've done the product piece really well.

Yeah.

Is that true?

Yeah, I think so.

On a scale of 1 to 10. How have you done it?

The sales channel piece, it's really good. The sales are really good for the product.

I mean, on a scale, what would you give yourself? Not on sales for the product, but on your optimization of sales channels?

I think we're highly optimized on Amazon, like, you type in, like, organically, like, number one.

Okay.

So it's great.

And having your product really dialed in makes that a lot easier because you can naturally get reviews, right? So the. That would also make audience building a lot easier because you can take those video reviews and run them as content if you decided to do that. But for you to get to a million to pass through 100k a month, you now have to introduce something into the system that already exists, which for you means you need to deepen that product line. And you struggle with that because you don't really know what the person buys after they buy.

Until you have to ask them.

What don't you like about what I just said?

Because that's, like, the biggest question for us. And so I have an idea of, like, the woman, the avatar, the person I want to, like, sell to. So I don't just want to be.

Great.

I'm like, this sounds awesome.

So you can steer the conversation around and not have it be. When you reach out to people like a blanket. Like, what do you need? The whole world is open. You can steer the conversation because it's very true to what you said in the beginning. Why do you like, what is your why? What do you want to do?

What do you want to get out of the world?

And that's why when I was talking to Trevor, like, the most exciting thing for me, and as coin as it sounds like it's really here in the.

Reviews because, like, so question, Amber. How far away does the number that you want or the. The multimillion dollar business, how far away does that feel to you right now?

I mean.

Like, if I'm just thinking, like, really, like, logical numbers wise, like, I mean, like one product, there's like.

I mean. I mean, personally to you, how far away does it feel?

It feels kind of far. I feel like, you know, because I don't know anything about audience building or anything like that. I feel like I'm just fighting online right now on Amazon just to keep everything going.

Do you want to know how far away you are? How far? Inches.

Oh, okay.

Inches.

Like, both you and I when you talk are just like, you saw us look at each other. Like, this is like, we know exactly.

How to do this.

And again I said 80% of my job sometimes is clearing the noise in your head because you're lost in Amazon sauce.

You become an Amazon specialist. It's actually not even what you like. What you like is being a product and a person specialist. Let's just stay on product because you're better and you're better in the world. I know when someone's really, really close when they can tell me what they're better than everybody else at. And you are better at serving this specific person. You just, just, you just exactly describe who it is that you want to serve and release more products to your. The reason why you are, are struggling to see them is because you have one winner and you're in your brain serving all of the people who are buying that. There's a reason why when I talk about the million dollar formula being three to five products at 25 sales a day, there's a reason why it's three to five products and there's a reason why it's not one product at a hundred sales a day. And it's because in order to sell three products you have to know who the buyer is. And we could just pick and it makes the decision a lot easier. If you said someone who buys, then we need three.

If it's the woman.

That'S a different set of three to five products. And as you just pick the product, the person starts to form or if you just pick the person, the products become a lot easier. My obsession with audience building and picking the person is not some like selfless, be good in the world.

It's a way to make decisions and decisions create progress. And you're about two away from having a really, really great business.

So if you were to as a thought experiment just these are the three types of people that buy my product and pick one and then ask the question, what else do they buy? You know what products to release and it just becomes about okay, which of these three do I pick? This one. All right, well you know what products to release and you know that you'll dial the one in really well. You have a great product and because you've done a reasonably good job at the sales channels, now we have a business that is going to grow our top line revenue.

Should we not focus on Shopify because like when you win like denial, like I was laughing in my head like man, that's the next thing we did. Like we literally just started Shopify store and make like what two things of a month.

So yeah, and keep your stock prices up. Yeah. So.

Focusing on Shopify is great as a way to amplify our sales channels and that can grow our revenue.

But it doesn't necessarily grow our profit. It's a whole other. It's a different distribution, it's a different way to crack the same nut the nuts cracked.

So yeah, dial in Shopify, build a funnel if you want, but that's not a multiplier. That's not the thing that is going to take you from 1 million to 10 or even one sale to a hundred sales. What I'm, what I'm trying to express is if you don't have another nut to crack, like if you don't have another way to crack that nut, then maybe you need to go Shopify or address something else in your business. But the way that you really multiply and amplify what you've got is by going into the other areas.

So that's where our focus should be in that one.

Your focus, especially as an entrepreneur. Otherwise you're just so.

Otherwise you're just becoming a sales channel manager.

These, these are managers.

These are not entrepreneurs. This is an inventor who's got great ideas and is broke.

This is an influencer who has a lot of distribution and is broke.

And this is someone who knows how to take sales but is not building a business.

An owner has all three. And it doesn't mean you are good at all three.

It means that the business is good at all three. And it's your job to align the assets and the resources to do those things.

That's how you have an eight figure exit. That's how you build a real company. That's how you have anything that's sellable. And.

I wish I could make you get this. When you think about it that way, it's easier, not harder.

But it requires you to make the transition from hustler to entrepreneur.

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