How to Build an Audience For Your Brand And Get to 7 Figures

Where are the eyeballs and where are the buyers going to be coming from for the next few years? And what we see is that they're consolidated around a few places where if we go in front of them, we get them and we bring them into our brand, our business and our products, we can get fabulously rich very quickly.

You're listening to Freedom Fast Lane, presented by capitalism dot com. This is the show about building businesses and investing the profits so that you.

Can live life on your terms.

And now, your host, the future owner of the Cleveland Indians, Ryan Daniel Moran.

Hey, everybody. Ryan here. And I'm really excited to be bringing.

What I'm about to release to you. It's a keynote that I did while I was traveling in Ukraine and I.

Was at an event called the Amazon.

Forum, and it was for a group called Sales Hub, and it's a bunch of Amazon sellers in Eastern Europe. I'm really excited about what's happening in Eastern Europe because there's just really hungry.

Entrepreneurs doing some cool things. And I am actually, like, a little.

Bit alarmed for the US Sellers because.

When I go to Eastern Europe and I see how hot, hungry and aggressive the entrepreneurs there are, I'm like, oh, they're coming for us. But that's a story for another day.

What I want you to take away from this keynote is it's very heavy on building an audience, on how important it is to build an audience for your physical products brand, but how much easier it is to launch a profitable.

Business if you've got an audience. And if you're selling products right now, how easy and fast you can build.

Up an audience that makes the next launch easy and profitable, how it makes it easier to scale the business, to scale your and automate your product release process. You, as an entrepreneur, ultimately want to be in the spot where you're releasing products. You are building a brand, you're making connections, you're leading the charge.

And all that's possible is when you've.

Got an audience that supports you, when you've got an audience that will buy whatever you release, whether it's on Amazon or Shopify or Kickstarter, when you have people who will rally behind you, buy.

Whatever you release in the world and.

Make it possible for you to be.

Independent of whatever sales channel you're used to, it makes running a business a lot easier and more scalable.

So that's what we talk about in this keynote. We talk about some tactical ways that you can start doing it right now, and we talk about how that can give you A platform for getting to eight figures and having a more scalable, sellable business. So if you sell any physical products and you're running into bottlenecks because you can't scale as fast as you want, we're going to fix that in this episode. Enjoy.

I have no idea what Igor just said. I did catch capitalism.com and Cleveland Indians though.

Yeah.

Hey. I just want to acknowledge Igor for a second because first of all, I know how hard events like these are to pull off, especially this high class. But also to bring these opportunities to this community is so encouraging because I watch the hunger that is in this room and the hunger that is in this area of the world, and it's so exciting to be a part of it. And I think Igor is doing a great thing bringing this information to this part of the world. Could we thank him for just putting together an amazing event?

I love this city, by the way. I love this part of the world. I love this energy that is so palpable. Because in the US we're spoiled, we're kind of lazy. We've had entrepreneurship available to us for as long as we've existed. But here the opportunities are so new. You've had the ability to live life on your own terms for just a couple decades. Within many of our lifetimes, none of these opportunities existed. And so this first generation capitalism is so exciting for me. Is the founder of capitalism.com as a voice for entrepreneurs. It is such a surge of energy to be here. I'm so proud to be in front of you right now. I remember the first time I was here in Kiev. We go to the city center and I'm in this new culture. I had never been here before and I'm still getting to understand the little nuances. I made a fool of myself a couple times, tried to talk to a couple of girls and thought they were going to beat me up. And I go to the city center and I see this sign in big letters right in the middle of city that says freedom is our religion. I went to school to be a pastor. I now no longer know what I believe about religion and spirituality. But I know that we're all pursuing freedom.

And this idea of freedom is our religion gave me all kinds of feels. Because at the end of the day, what we are doing is bigger than Amazon. What we are building is bigger than E Commerce. What we are building is bigger than a business. We are in this for freedom. We are in this to call life on our own terms, to call our own shots. And the very idea that right in the city center we see freedom is our religion. Do you realize that what you are building and what you are doing.

Is creating freedom for yourself and for generations to follow? Do you realize the opportunity and the trend that you're sitting in front of right now that if you play this game well for a couple of years, you are literally changing economies, you are changing your entire family tree because we're in this game for freedom. At least I am. I don't know about you guys.

And the energy and the fact.

That this part of the world recognizes that and is all in on that makes me very excited and very proud. And you should be very proud of what it is that you're building. I have on the screen a picture that was taken two days before I arrived here in Eastern Europe. I was having dinner with Gary Vaynerchuk and Jay Shetty and Lewis Howes and Josh Bazzoni and Colin from Wild Foods. And I took this picture for a very specific reason. And I wanted to show you this picture for a very specific reason. Because if we just go down the list, Lewis Howes has built an incredibly large social media following. Same with Jay Shetty on the right two years ago had zero followers, now has 13 million followers, all organic, no paid. Josh Bazzoni, second in from the left wins a company called BioTrust went from zero to $100 million in its first 12 months. Gary Vaynerchuk, most of you know, and here on the right, Colin from Wild Foods runs a brand that's a multimillion dollar brand that has done a really great job as a case study of doing branding well and mixing the two worlds of E commerce and social media. And then I recently sold a business for eight figures and now teach entrepreneurs how to build seven and eight figure companies. And what was interesting about this is if you were to take the strategies that each one of these individuals represents and you put them into a blender, you have what I think is literally a formula for building seven and eight figure companies because it's no longer enough to just think about what product am I going to sell on Amazon or how am I going to get reviews. The game is change and it requires the entrepreneur to change as well. And so it requires the thought of where are my followers going to come from? How do I stand out in a crowded marketplace. And so what I thought was interesting was that each one of these individuals specializes in something and if we take the overall strategy among them, we have what I consider to be an eight figure formula. Now, before I jump in I just want to recognize several times. It was three different times I sat down and attempted to make this talk for you. And three times I opened up my laptop and I thought, I have no idea how to communicate this. I have no idea how to package this into something to just give for you to take away. And it created some negative thoughts in my head of, first it was, I'm not sure quite how to communicate this. And then it was, I don't have anything of value to add to this conversation. And then it was, who the hell wants to listen to me talk about this anyway? And I say that to you because I know how easy it is to come to a room like this and hear, this person's doing x thousand dollars a month. This person's doing 100k a month. This person sold a business for $10 million. And it's so easy and so natural for us to play this comparison game, for us to play this game of, well, I'm here and I think that person's here. So all of a sudden, I'm not enough. And we are seeing everybody else's good stuff, all while dealing with our own internal junk. And I know it's easy for me to feel that when I'm in a room of entrepreneurs, especially young, hungry entrepreneurs who are up to really cool things. And the temptation is to hear what everybody else is doing really well and to feel either overwhelmed or like we're not enough because other people are doing well. And I tell you, I've got it too. I do it too. I go to make a speech or I go to share something with you, and my junk comes up too. We're all playing this game. We're all playing this silly comparison game. And what's interesting about it is we all have this vision of where we want to be. I want X number of, I want X result. And we look at it off into the future and we think, I want to be here. This is where I want to be. And we start here, and we're looking at this gap saying, this is where I want to get to. That's the end result that I want. And as soon as we take a step towards moves all the way until the point where you get to the certain points and you say, man, I still have so much further to go. It's what drives us as entrepreneurs. We're driven by this hunger to get somewhere because somewhere in our brain, we're kind of weird. We envision something that's different. We envision that our lives can be different. We envision that we can change our futures. It's what drives us. But if we don't pause and say, look at where I came from, we will always be operating in this mode of comparing ourselves to where we think we should be, or worse, comparing ourselves to other people that come here and are killing it, who are crushing it, who are selling companies. We'll always play this game, and it was just disempowering rather than empowering.

So I tell you all of this because I deal with it, too. And just because I'm on stage, just because I have sold a couple of companies, just because I've created a few hundred millionaires, I feel like I am just one of you. And so I consider it a privilege to be among hungry entrepreneurs who I know are going to take something of what we talk about today, who are going to take some piece of what has worked for me. And some of the companies that I advise is going to put it into a business that is already off the ground, and they're going to have amazing stories come out of it. And then we can all have a few glasses of wine or vodka and talk about how money doesn't make us happy and we're all still searching for meaning. And then we'll throw one back and say, freedom is our religion. So it's important to know at this stage of the game, shit has changed. We can't play the game like we played it a few years ago. It ain't 2015 anymore.

Shit's changed. And the entrepreneur has to change as well. Now, this can scare you. This scares a lot of my entrepreneur friends. A lot of people who have been selling well on Amazon for a few years are kind of freaking out.

The things that worked really well for them for the last few years are starting to not work so well anymore. Now, the other side of this is really good news. Because if you're a new entrepreneur or if you can look at this game with fresh eyes, it means there's a new golden age right in front of you. The old guys are starting to die off. The old guys from 2015 and 2016 are starting to get old and tired.

And dying off. And you young, hungry entrepreneurs, even if you don't have something killing it right now, are on the cusp of a wave of change that is opening up new opportunities.

We see a lot of businesses being sold right now. We see a lot of people exiting the marketplace.

And when that happens, when things start to mature, when things start to change, it takes a young, hungry entrepreneur with frank, fresh eyes to come in and change things up along with the marketplace. And so if you're willing to do that, if you're willing to discard a lot of the strategies and a lot of the things that people have been touting for a few years, you're sitting in front of a wave that is massive. Let's go through what some of it looks like you might have seen in the last couple of or last year. Amazon bought this company called Whole Foods. Did anybody hear about this?

Both of you, great.

Amazon is buying, they're just starting in the companies that they're buying, they're going to be buying more retail chains and I think that they're going to be buying international chains as well. It is only a matter of time before Amazon has international two day shipping buy from anywhere in the world. It shows up two days later. It is only a matter of time before your product and your business is an international business. It is only a matter of time before anyone in the world can order your product and it show up in two days. It's coming because Amazon is not just increasing their own distribution, they're acquiring the distribution.

So you might have access to 1 billion people right now. There's a few more billion people coming.

Now. It's not just on the product side as well. Amazon's advertising opportunities are opening up as well. Amazon's making a play in original content. Amazon Prime TV is a real player now and it's only a matter of time before you can run an ad. And the ad that you run, the same video that's on your Amazon listing can also be run on Amazon prime tv.

And now all of these consumers have buying history.

And Amazon knows what they buy. And you can run a TV ad just like the old days. The only difference is the customer has their credit card on file and you can take an order right from the TV ad.

It's coming.

And it's not just tv, it's also Alexa. Alexa being in millions of homes, that is just the beginning. And it's only a matter of time before you can say, alexa, order me more blank, order me this and Amazon's choice will go pick the one on the shelf and send it to your house. It's coming.

And if you do your branding well and they say, order me more Joe's hand soap.

Your brand starts to show up in people's homes all over the world as a result of Alexa making it easier to purchase. Amazon Prime TV making advertising easier to purchase. And there's two day shipping anywhere in the world. And Amazon is starting to show a favoritism toward brands, not just products, but brands who serve a very specific demographic, preserve a very specific audience. If you know who your person is, if you know who the customer is, not just the product that you are selling. Amazon is showing favoritism to you through their private programs like exclusives, like Amazon Luxury.

Amazon is starting to create opportunities specifically for brands and in places where they can advertise and in the way that they serve sellers. So if you play this game well, there's a wave coming. Oh, and by the way, in case you didn't know, only half the world has Internet access. That's gonna change real fast. So if you think that Gittin is good right now, what happens when 3 billion people come online? As the world gets better and the opportunities that have opened up for you in the last few decades open up for everywhere else in the world? What do you think happens to buying behavior at that point? It's about to get real exciting or shit's about to get real, real, real fast. Now there's more to this story as well. Because it's not just Amazon that is opening up opportunities, it's social media, particularly Facebook as well. Facebook now owns every eyeball on the Internet. Between WhatsApp, messenger and the Facebook platform, there ain't an eyeball on the Internet that you can't target. With Facebook advertising that's going to continue.

Now it's not just advertising. I actually think that payments and sales are going to come to Facebook as well. You're already starting to see messenger roll out the ability to take payments. So what happens when you are communicating with your customer through advertising? You have a conversation going in messenger and you can literally take the order right within messenger, every eyeball in the world you will have the ability to collect a payment from you. Combine that with the growth of Amazon.com and things start to get a little bit interesting. And we mentioned Amazon prime making a play for tv. It's also Facebook Watch, Facebook Watch and Facebook Video. And just a few days ago they announced igtv. Did you see this? IGTV just came out. It's for long form videos on Instagram. And what you see now is an integration of platforms and long form video. Imagine this scenario for a second. You have a video on Facebook Watch.

It syndicates over to igtv. And that same video is also playing on your smart TV through the Facebook app. So you have one video that is now running on Facebook to an Instagram audience and it's streaming on the consumer's TV that's the play. That's what's going to happen. Google is making the exact same move with YouTube. Amazon is making the exact same move with Amazon Prime. One video going to your brand, streaming to tv. It's now possible to be in front of every eyeball in the world and have people see your product. Oh, and by the way, Facebook might own every eyeball, but there's 3 billion more eyeballs coming. Oh, and that's assuming population doesn't change, which we all know it's going to.

So when India.

Reaches critical mass, I don't know if you know this, they continue to make more children.

At a very high rate. Population continues to go up. More people come online and you're able to be in front of all of them through Amazon and social media.

Now, there's also a very interesting change happening where you're seeing as a result of, of these advertising platforms open up. You're seeing them start to consolidate around certain channels and certain thought leaders. What were TV stars last decade are now YouTube celebrities today. They're social media stars today. And it's only a matter of time when Beats by Dre is now the music company founded by the next social media star. Because you have access to the eyeballs, if you have access to the buyers, that's where all the money is made. Spoiler alert. Most of you don't do well on Amazon because your product's all that great. You do well on Amazon because you're in front of the buyers and you're in front of the eyeballs. And as competition heats up, we all go, I don't want to talk about my product because I don't want more competition. But your competition was never just on Amazon. It was for the eyeballs and it was for the buyers. So we asked the question, where are the eyeballs and where are the buyers going to be coming from for the next few years? And what we see is that they're consolidated around a few places where if we go in front of them, we get them and we bring them into our brand, our business and our products. We can get fabulously rich very quickly. Right now, the cost to be in front of those audiences is very, very cheap. That is going to change.

Right now we are in this window of opportunity of putting products online, driving advertising to them, and having multi million dollar brands that other businesses want to buy. And we're going to go over exactly how to do that, by the way. Now, any blogger or any audience can put a brand pretty much on the map with a TWEET with a blog post. We had one product last week, just organically. We had one product just hit the marketplace and the most popular blogger in our space talked about it and sales went. And guess what that did to Amazon's algorithm? It fed the algorithm. It had us rank higher. We were able to raise the price on our product because now we had an endorsement.

Imagine if we had gone out and been intentional about recruiting those endorsements from bloggers, from social media stars, from YouTubers. It's absurdly cheap to do it and none of your competitors are doing it. Most of us are talking about reviews or ranking for keywords and all that stuff is great. But it is this much of the total picture. It's this much of the piece. If you go out and get the rest of the opportunity and bring it to Amazon. That's when multi million dollar businesses get built, sometimes seemingly overnight. That's when people go from zero to eight figures within a couple of years. When they combine the two worlds, we can look at examples like four Sigmatic Coffee. That's a coffee brand that is exploding in the us. There was no demand for mushroom coffee a few years ago, but they start going out and buying endorsers, they start sponsoring the Tim Ferriss podcast. They go out to health bloggers and get those endorsements. They get them to send that traffic their way. And now if you go into many retail stores in the US you'll see mushroom coffee on the shelves, which wasn't even a thing a few years ago. Another example is Logan Paul, one of the biggest YouTubers in the world. $30 million a year in physical products. Is it cause his hoodies are so great? It's because he has the eyeballs and he has the attention of buyers. That's when this game gets really exciting. Bulletproof coffee is another example. Was there demand for mold free coffee or MCT oil or grass fed butter even a few years ago? No. But one blogger had enough attention, he had enough influence to be able to influence buyer behavior. And an eight figure business was birthed within a couple of years.

Hey guys, this is Ryan. We're gonna take a quick break and.

We'Ll return to the show in a second.

Hey, a quick note for you Amazon sellers and brands who want to be on Amazon and haven't made it a priority yet. I am often asked about changes with reviews or changes with Amazon terms of service or changes with what's working with review ranking and all of that kind of jazz. And I'm proud that I have partnered with one of our Backroom members. His name is Jeff. He runs an agency that specializes specifically in optimizing your Amazon presence. So if you're a brand that is neglecting Amazon and you've heard me talking about it and you're like, we know we gotta get this together, or if you're an Amazon seller and you know you need to turn your attention to audience building and funnels and the stuff that is really going to grow your company, I would recommend that you give a quick shout to my boy Jeff at Turnkey Product management. They're@TurnKeyProductManagement.com and as I said, they're in the back room. They work with my team and the rest of the big companies and equity groups that are involved in our little circle. And they're usually ahead of everybody else in terms of what's working, what's compliant, what review strategies are cool and kosher and are actually effective and they're not out there hawking a bunch of info products, they're out there actually doing it. So they're an implementation agency that just handles it for people and they run their own businesses, some of which they have built and sold, kind of like yours truly. So I feel really good about partnering with them and recommending the big companies and the brands that I work with to outsource their Amazon management over to Jeff and his team. So if you're looking to add some automation into your arsenal, I would recommend the good folks@TurnKeyProductManagement.com and Jeff and I are on speed dial with each other and are collaborating on what's working. So you're always getting what's the latest and greatest in the Amazon world. So contact those guys if you're looking to outsource, automate and optimize your Amazon presence@TurnkeyProductManagement.com.

Now, I have popularized this strategy of going from 0 to 1 million in about 12 months. And the math behind it is very simple. Three to five products selling 25 to 35 sales a day at an average price point of 25 to $35 is a million dollar business. That's all fairly simple, we don't need to over complicate it. Three to five products around one primary demographic, one type of person, moms or hikers, outdoors enthusiasts, fishermen, fitness enthusiasts, people looking to lose weight, CrossFitters, one demographic, one group of people, three to five products to that audience selling 25 to 35 sales a day at an average price point of 25 to 35 bucks is a million dollar Business.

Now, what we have discovered is because of the changes that have happened, because of the opportunities that are opening up, it can happen much faster, much, much faster than it used to be able to be done if you do a few things right in preparation of launch and as you go to scale products. So what we're going to go through is the stages of getting to the million and beyond and how we play this game today to go faster than we've ever been able to go before.

The first stage, your first few months, is a grind.

And the grind is not just getting the product live. It's not just putting the product for sale. The grind is building at least.

A viable list of 100 buyers.

This is your goal. At 100 predictable sales out of the gate, we have enough momentum to be able to get any product that we release in the future to be at that sweet spot of 25 to 35 sales per day and more. But what most people will do is they'll create the product, send it to Amazon, sweat and slave their way to try and rank for keywords, beg and borrow for reviews, and they spend six months trying to get the product off the ground. Half of them, if not more, get discouraged, lose energy, give up, and quit. If you put in this much energy up front to have a minimally viable list of at least 100 buyers, preferably more, but at least 100 people, and we'll go through how. If you do that, you come out of the gate with slow fire. You come out of the gate ranking for keywords. You come out of the gate with people ready to leave reviews. You come out of the gate with momentum. And then it will be your job to just release products as quickly as you can possibly handle. So let's go through how to do that. I take a metric or a rule of thumb, I call it 110 and 1. It's 100 people who will buy your product out of the gate and leave reviews. It will probably take you 1000 followers in order to do that. So that's 1000 people on an email list. That's 1000 people in a Facebook group. It's 1000 people on Instagram. And these are engaged people. Are you replying to their comments? Are you sending them personal messages? Do you have 1,000 people who are following you? 100 of them, absolutely raving. Meaning, are you putting out content or are you speaking to an audience? Are you releasing pictures of your products in order to gain those followers? At least 1,100 of them. Super, super engaged. Now, when we frame it in this way. 1000 followers and 100 of them super fans. Every single comment no longer feels like such a grind because every time we respond to someone, we have a high chance of turning them into a super fan. And if we only need a thousand in order to have 100 superfans who are going to buy from us and leave reviews, then all of a sudden the budget doesn't seem so daunting. It only takes 1000 followers for us to be able to do a lot of damage and come out of the gate with a lot of momentum. So 1000 followers with 100 predictable buyers who will leave reviews. The second piece of this is 10 personal superfans. So 10 people within your Rolodex, people that you know. Do you have 10 people that are friends of yours that are in your cell phone that are excited about what you're doing? Here's why I bring this up. I have a beauty company. I have kind of a portfolio of physical products brands. One of them is a beauty company called foxsprint. And one of my good friends in Austin, Texas is named Carly. And Carly is our demographic, she's the age demographic. She believes in natural products versus synthetic and she uses our products. She's super excited about it. Now if I call Carly and I'm like, hey Karli, we've got a new product coming out, would you mind posting about it on social media? She says, oh yeah, I'd love to, I love your stuff. Great, thanks so much. It's not a hard ask to get Carly to post about it on social media. But if she's a 31 year old.

Young, attractive, natural minded woman, who does she hang out with?

Other 30 ish old attractive women who care about natural products. So her friend group, her follower group, even though she's not an influencer, they're our demographic. And so when she is a super fan of my brand, she brings other super fans with her that are her personal friends. So I can have 10 personal contacts who are super fans of my product and my brand. And I combine this with a hundred raving fans on the brand, we've got enough momentum to be able to create a launch that is profitable, that has momentum and is scalable. Rather than just sending the product to Amazon and hoping and praying. And then I'll tack on one influencer with at least 10,000 followers. I'm not going for the million, I'm not going for 100,000. 100 YouTuber with 10,000 subscribers, one Instagrammer with 10,000 followers, one blogger with 10,000 readers. These are the influencers who are accessible. These are the people that are being overlooked. These are the influencers that you can get in contact with who are kind of stoked when you send them free samples of your product. So we combine these three things together. 100 raving fans, 10 of our personal contacts and one small to mid sized influencer that we can get in touch with. We've got enough eyeballs to get a product off the ground very quickly. An example of this is a company that I advise called Swanick Sleep. They have a product called Swannie Sunglasses. They're blue blocker sunglasses. A bunch of my friends use them. A bunch of entrepreneurs who are working late, they are on their screens, they use blue blocker sunglasses in order to increase melatonin production so that they can go to sleep. If you're an entrepreneur and you're up late answering emails, you're looking at your screen, you're getting all this blue light makes it hard to go to sleep because your cortisol levels go up. This is a product that prevents that, so it protects your natural sleep cycle. So a bunch of my entrepreneur friends use them. So I know James, the founder, I know him very well. He's actually thinking about moving to Austin, Texas. James, if you're watching this, move buddy. And because a bunch of my friends use it, I use it too. I'm kind of a super fan of this brand. James is a buddy. So when he calls me and says, hey Ryan, we're doing a launch of our new frames, would you post about it? Yeah, dude, no problem. I got no problem doing that. I know it helps him. I'm a fan of what he's doing and I'm excited to share it with my followers. This is an Instagram post from last week.

Stoked to be a part of what Swanic Sleep is doing. This is their new Model X. A few influential super fans of the product move a product from the ground floor to having momentum. This is another example. This is one of my students. Her name is Sophie. She runs a brand called Seed and Sprout. It is a brand that is all about eco living, about reducing waste. And Sophie, I know you can't see it on this screen, but she's only got 1,000 followers. She's only got a thousand people on her Facebook page following her brand. So Sophie posts a selfie video of her holding the product, talking about why she's excited about it. It's a two minute video, not even a minute, three. And she's posting it on her, her personal Facebook page. Now, she wasn't going on Amazon. She was sending them to Kickstarter. And I don't know if you can see it in the post, but she says we're hoping to raise $5,000, $5,000 that she's hoping to raise in this Kickstarter launch just by posting on her personal Facebook page. Well, what happened? She raised $25,000 of pre orders of a priority product, which is more than enough to do damage on a brand new business. Now, Sophie did one other thing that was really smart. Sophie had 1000 followers on her Facebook page. Sophie then put it on her personal Facebook page and asked some of her personal contacts to share it as well. And they did. And then she went to one Facebook group that was all eco friendly women. She said, hey, is it okay if I share my products that I'm doing Kickstarter for within this Facebook group? That was her influencer. Her influencer. The Facebook group posted about it and they got all of this momentum between her page, personal contacts, and one influencer, which was the form of a group, $25,000. Right out of the gate, she had a bunch of raving superfans. And now Sophie, I just saw it on Instagram right before I was about to go on stage, is launching a new product to the same audience. And she'll do it again and again and again until it's a multimillion dollar business. Now, I know you can't read this. I just really captured this from my own reference point. This is a friend of mine, a personal friend on Facebook, who was doing a supplement launch, a brand new supplement. And get this, he said publicly, I need 100 people to buy this in order for me to fund the development of the business. He did not go out and develop the product first. He built up buyers and buzz before developing the product. And to the people who expressed interest, he went out and said, hey, can you post about this on your own Facebook page, because I need to hit that hundred in order to get you the product that you want. So we had a bunch of his personal friends posting about the business, which didn't exist yet. And he did tens of thousands of dollars worth of pre orders for a product that did not even exist, which allowed him to fund the development of the business and give him momentum out of the gate. And super fans that will spread the word on his behalf. No Amazon, no list, no launch, just building up buzz among his personal connections to get excited about the product.

Your goal in that first stage of business is to build up that minimally viable list of buyers who will support you out of the gate, leave reviews and kick start the growth of the business. The next stage of the development of your multimillion dollar business is stage two. I call it the growth. Because now your job is to release as many products as you can comfortably handle. When you prove that you have a distribution engine for getting one product off the ground, you go do it over the rest of that three to five products that are going to grow your million dollar business.

Inside of this second stage, it's your job to launch those products while continuing to grow that audience. As that snowball builds, so does the momentum. And as that snowball builds, so do your sales. And as a result, many people hit the million with two products or three products and, and it happens in five months instead of 12 months. Now what I like to do in this stage, once the audience already exists, once there's already a buyer's list there, my launch process is real darn simple. I simply communicate what's different about my product. I ask the audience if they want it and then I sell it to them and then I ask them to leave reviews. My strategy is not to do a big discount. My strategy is not to give away hundreds of free product. My strategy is to go to the audience that has proven that they love what I'm up to, ask them if they want this new different product and then see sell it to them at full price and then ask them to leave reviews. So where would you do this? You would do this in email? You would do this in a Facebook group, which I love. It's free, it's easy, it's fast to put together a Facebook group of followers who are around a certain topic. If it's the yoga group or, or it's the gardening group or it's the mom's group, those people invite their friends and do free marketing for you. So you have all of your raving fans within one spot. And then I simply say, hey, this is our new product. Here's what's different about it. Do you want it? If so, I'll put you first down in line for when it's ready. By the way, we've only got 100 of them available on launch day. This can happen in email. I'll show you an example here in a second. You can do this on Facebook Messenger. Any way to distribute a message quickly is where your conversion point is. And you'll fuel this with your traffic sources. You'll do this with Facebook ads. You'll do it with YouTube ads, you'll do it with Instagram, specifically with swipe ups. And your job is to take the traffic from social media advertising, drive them to a conversion point. So an example might be Instagram stories to email opt in. Now you have a launch list. Or it might be Facebook ads to Facebook group group. And now you have a launch list of people that you can ask, hey, do you want the thing? Great, there's a hundred of them available. I'll put you first in line. Now again, we only need 100 people to predictably buy and leave reviews in order to have enough momentum to build the foundation of a million dollar business. So your goal is not numbers, it's not a group of 100,000. It could be a group of 500 or 1,000 people who are super jazzed and super ready to buy from you. Your goal is responsiveness, not size. So every interaction matters, every person matters. And if you have that type of focus, getting to this level is very fast. So an example of this, just an example would be to run a video ad that shows how your product is different. And you would run this as a Facebook ad. Or you might do it as an Instagram story. You could put this on YouTube as an advertisement. I like Facebook ads. So a Facebook video ad that you're running traffic to your demographic, that list goes to Facebook Messenger. We do it through manychat. Or you send them to an email list, an email opt in. And your hook for the opt in is simply be first in line to try X product.

That's it.

You don't have to offer a huge discount. You can, but you don't have to. It's simply, here's what's different, here's where you get it. We'll let you know when it's ready. That's your offer. That's a sample flow of how we might drive traffic to a conversion point and have the launch list ready. And you do this every time a new product is coming out. So here's an example of how we might do this via email. In email, which is my favorite conversion mechanism, we might simply say, hey, we've been working on a new Bluetooth headset and it doesn't fall out of your ears when you're running. We've got 100 on pre order right now and we need some feedback. Do you want to be first in line? Pretty simple enough. There's no, hey, we're giving away 100 for free. It's here's what's different about our product. Do you want it? They'll reply, say, yeah, I want one. You say, great. Just to confirm, we've only got 100 of these, so I want to make sure that we've got the right people. Would you be willing to send us feedback within 30 days of use? They reply again and say, yeah, I'd be willing to do that.

Awesome.

Here's the link where you can get it before anyone else. I'll hold one for you until Friday. Let me know if you have any questions. Otherwise I'll follow up in a few weeks to get your feedback. There's no fancy salesmanship here. There's no fancy copy, but this would be a way for us to get in front of our audience, put a product in front of them, make them an offer, and have sales from day one coming out of the gate on every new product that we release so we have the momentum on every product, which makes building a multi million dollar business a lot faster and easier. Another example of this would be doing it on Facebook. Here's your ad. This is assuming you're selling men's clothing or men's underwear. Big news for men. The world's most comfortable underwear hits the shelves on October 2nd. Comment below and we'll put you first in line. You have a video showing why the underwear is better or different than all of the others. And when they comment, you have Facebook messenger communicate with that person and say, hey, I saw your request to get our new style of underwear. They come out on October 2nd. Do you want me to add you to the notification list? Fairly simple. We only need 100 of them and that's enough momentum and we can duplicate this over every product and it gets easier and faster and the snowball builds every single time we do this. When you're in this stage, your only job, the purpose of this stage is to build a recycling, responsive enough audience to where you can predictably launch product after product after product. And you can do it simultaneously. Every product you release is another reason to run an ad, another reason to get a Facebook group to post about you, to get a Facebook page to share your video. Every single product you launch is another reason to build the audience. And so this makes it faster and easier to launch products, rank for keywords and get reviews. And the snowball begins.

And then it's in this stage, the final stage, when you have several products selling consistently in the marketplace where you can run Things like cold YouTube traffic or cold Facebook traffic, because now you've got a suite of products, you know exactly who your customer is. You can now afford to lose money on YouTube ads. You can now afford to spend money on Facebook knowing it's not gonna convert from day one. And you can build up more fans and drive them to multiple products because you have the profit margin to be able to justify it. Which, by the way, when you play the game this way, you don't have to compete on price. In fact, I think it's a bad idea to try to compete on price. If your only differentiating factor is theirs is 18 bucks and ours is 16, you're toast. Where I like to play is theirs is 18, mine's 39. And I'm out selling you because I have an email list, because I have a social media following, because I have more reviews than you from raving fans who didn't just find me on Amazon, but they bought from me on Amazon. That's when you can do a lot of damage because your profit margin is high and everybody else can't compete with you and they look like the knockoff team you. That's when things get really fun. This is also the point in the process when you can go actively recruit influencers and bloggers. So many physical product entrepreneurs have one product and they're going out and saying, how do I get this Instagrammer with 100,000 followers to talk about me? That's going to solve all my problems. That's not the time to do it. The time to do it is when you're already in motion, when you're already taking sales and now you've got the profit to be able to pay those people to talk about you regularly. For you to have the profit margin, to be able to sign long term deals with those bloggers and those influencers, that's the time to go in on that. That's also the time to consider featuring your product in other places. If you're selling well on Amazon, you're inevitably going to be hit up by blogs and magazines saying, hey, we'll put your product here. It makes no sense until you have multiple products consistently selling well. But once you have that brand, once you have multiple products selling to the same demographic and you know exactly who your target market is, you know that every sale and every piece of exposure makes the snowball bigger. And you're going to add to that snowball and add to that snowball, but only then, at that point, you're a business that can be sold. At that point, you're a business that can be acquired for millions of dollars. We're seeing it happen right now. There was a brand called Ancient Nutrition Had a hundred million dollar raised recently. They were a two year old company. RX Bar was started in someone's basement. Sold for $600 million about five years later. 7th Generation recently sold for $700 million. They sold paper towels and laundry soap. Dollar Shave Club sold for a billion dollars on the back of one YouTube video. I picked these examples intentionally because none of these are any Amazon businesses. But they all killed it on Amazon because they had done the other things. Well, now I want you to understand where.

This falls in terms of.

The order of operations.

Because we hear about people selling companies. Who the heck is buying these companies? Companies. And this is going to help you realize what you're sitting on right now. There's businesses like Kellogg's for example. Kellogg's, we think just sell cereal and cereal bars, right? Well, Kellogg's was the company that bought rxbar. What you might not know is that Kellogg's is owned by by a private equity group that buys up multiple brands. So you have this brand that buys this brand and that brand buys this brand. And then down here you have investors and other private equity groups who are in the business of raising money from investors who need a return on their money. And the way that they get it is they buy your company because you put blood, sweat and tears into a business and it's producing profit. There's other groups who say we have all the money from investors. They want 9% on their money. So we're going to buy your business so that we can pay out our investors and we'll grow this business. And when that happens, happens, there's another brand. Now comes Kellogg's. And Kellogg's says, hey, we saw you grew that company. We want to buy it for tens of millions of dollars. Because the only way we know how to grow as Kellogg's is to buy more companies.

They all know that the game is changing. They all know that young, scrappy, hungry ENT entrepreneurs are up to something on this Amazon thing. They all know that you are innovating faster than the big brands can. And rather than change their business model, they come and they buy your company and they pay out their investors. So if you think about this, you have the brand that is looking to buy up companies. You have the private equity group that is raising money from investors and has to pay out a profit to their investors. And the way they do that is they buy you at the bottom of the chain. And when you realize that they all need you to go build profitable companies, as young small entrepreneurs, we forget that were the Engine behind the thing, us releasing products, us building audiences, is the engine behind the big old rich dudes paying out their investors. We're the engine behind the big brands growing and buying our company. It's why I like to say money can't do shit without you.

We all get into this game because we know money makes it easier to have freedom. But what no one tells us is that money can't do anything without you. And money is chasing brands who have raving customer bases, who have different products, who are moving quickly. It's why I advise my students and my clients to spend every dollar they can back into the business to build a bigger audience, to launch more products, to go more aggressively, to move faster. And as a result, we have students who were not entrepreneurs a few years ago selling companies for a few million dollars all the way to 20 and 30 million dollars. And that's at the beginning of the wave. This wave is getting bigger. This wave is moving faster. And it's why what you are building and what you are doing is way bigger than you realize. This is bigger than a little thing that makes you some side cash. This is way bigger than something that you do so that you don't have to work traditional job. This is something that other businesses are eyeing because they know that you are innovating faster than them. There is money pouring into the marketplace to acquire businesses like yours for amounts that could completely change your future and your financial family tree. This is way bigger than some side thing that you do in order to make some nice cash. If you play this game well.

This game changes economies, it changes your family's future because money needs you to move and it will chase you as a result of you going all in. It's why I'm so, so bullish. It's why I'm so high. It's why I'm so excited. On entrepreneurs in this sector by entrepreneurs in this part of the world. Entrepreneurs who are going all in to do something different. And it's why I consider it a privilege to speak in front of this group at this time in this part of the the world. Thank you so much for having me. I'm such a fan of all of you. I appreciate you. I love you. Thank you so much.

Hey everybody, thanks for listening. This is the part of the show.

Where I wrap things up and give you a snappy call to action. I don't have one of those, so I hope you enjoyed this today's keynote.

By the way.

I basically documented the trip on YouTube and I had a lot of really interesting insights. One of them was me sitting on the couch talking about the fact that I'm really not an Amazon guy, I'm a business guy. And if you consider yourself an Amazon business, I think you're really holding yourself back. And I realized that I had been doing the same thing to myself, which was realizing I'm not an Amazon guy.

I gotta stop trying to be an Amazon guy.

I'm a business guy and I use Amazon. And man, having that realization just for myself freed up so much energy for me because I was like, you know how I could really serve my audience? If I went out and got the.

Guy who's really good at split testing listings to report on the podcast and.

On capitalism.com, what's working really well for him and his clients. And if I started to surround myself with other advisors in the back room and here on the channel to where I can focus on being the business guy.

Because you might be honest with you.

When people come up to me and they're like, what? What should my images look like? I'm like, dude, I don't know. That's why I get I people on.

My team who handle that.

Like, I realized for myself, I'm not an Amazon guy, I'm a business guy and I use Amazon and I'm really good at that. And that's why I've always been frustrated being pigeonholed as the, quote, Amazon guy. And having that realization just gave me such freedom. And so I documented a lot of those braingasms and a lot of those things that I was learning while on this trip over on my YouTube channel. So if you liked this episode, I'd encourage you to subscribe on YouTube because we're doing a lot more content on YouTube and I would highly encourage you.

To go check it out. So you can just search my name.

You can search ryan Moran on YouTube and I will see you there. Thanks for listening and watching and supporting what we do, and I will talk to you guys soon.

If you've been listening to the last few episodes of the show where we featured entrepreneurs who have crossed the seven figure mark and are on their way to eight figures, then you undoubtedly have heard us talk about the Backroom. The Backroom is a group mentoring program where we cast the vision for getting to $10 million a year and beyond and being ready to sell your company, because ultimately that's where the big payday is going to come from. We also open up investment opportunities so that you can put your profits into places that give you more wealth and Potentially more cash flow or even help you save on taxes. We have some pretty cool places where we put cash that give you sometimes all three. Plus you're in a room with people who are the best in the world at what they do. We bring in my team of advisors that help people get into retail. They help people clean up their systems, they help people clean up their books, they even help them reposition their companies so that they can be sold for more money. We also talk about what's working right now on Amazon and on other channels, but the focus of the group is on casting the vision to get to eight figures and beyond and clearing all bottlenecks that stand in your way while also opening up other opportunities for you to enjoy a life of freedom. Because that's what we're after here. We're not just after this to work hard and work 16 hours a day. We're doing this so that we can have freedom and we get freedom by making enough money so that we can invest into places that allow us to never have to work again and then building empires with people that we love doing business with. And that's what we're doing inside of the back room. And I could also tell you that we're looking to buy and buy into some of our students businesses through something else that we're doing pretty cool in the back room. But I will save that for another day because that is still in process. But if you have an idea that you're not sure how to bring to the marketplace, if you've got an audience that you know could be the fertile ground for a really profitable seven figure physical products brand, or if you're selling enough product to be able to say, you know, I could step on the gas here if you've got that million in sight, or you're beyond the million and you know that it's time to accelerate the process to get to that eight figure mark. Because you're playing the review game, you're, you're playing price wars. You're tired of sacrificing profit margins, you're working way too long for too little result and you want to clear those bottlenecks so that you can grow faster and have a sellable company so one day you can have that ideal freedom lifestyle, we can help you inside of the back room. It's one of the more expensive things that we do. It's also the highest ROI thing that we do. So it is application only. You need to be ready for it and you need to be ready to move when you join so you can go to freedomfastlane.com, click on backroom and and see the application, see all the pricing details from there. Working with me one on one starts at about $100,000. Joining the back room is a little bit less than that. So just know going into it that it's a serious investment and it is only for people who either have funding, have sales and are ready to go once they join. So if that's you, go over to freedomfastlane.com, click on the back room, and you'll see the application and full details there.