How To Choose Your First Product To Sell

Hey everybody. Ryan Daniel Moran here. And this is my beautiful daughter, Esther Vivian Moran. And in this video, I'm going to be showing you how to choose your first products to sell online. I have built all of my businesses. Really my most successful businesses have been physical products brands. And I have found that selling physical products is a very predictable way to create a successful business, specifically a seven figure business, if I could be so bold as to say that. And I love working with other entrepreneurs. So I'm going to teach you how to choose that first product. Because if I can give you that win, if I can give you that first product, then we can do a lot of cool things together in terms of growing a really fun and profitable business for you. If you enjoy this video at the end. I teach this so stuff on my podcast, which is called Freedom Fastlane. My website's capitalism.com, but I have a podcast called Freedom Fastlane and you can grab that@freedomfastlane.com iTunes. I love teaching this stuff. So if you like what I show you in this video, feel free to hop on over there and subscribe for free. So let me give you my overall strategy to set some context for you. My business strategy is that I build physical products, brands that are scalable and sellable. And I do that by leveraging the power and exposure of Amazon.com as of 2000. I don't remember when the study was done, but the last study I heard, and it was growing. The last study I heard said that 43% of all retail transactions now happen on Amazon and that number continues to go up. So rather than try to make it difficult on ourselves of growing a business, I just leverage all of that exposure and power and all the customers that are already on Amazon.com and as a result of doing that, my brands now sell over a million dollars a month, which is pretty cool. You know, that's an eight figure business. Now I am, I'm not a details guy. I'm a big picture guy and I like to make things easy on myself. I enjoy my lifestyle. I want to spend more time with Esther and doing the things that I love. So I use Amazon Fulfillment, which automates all of the shipping. They do all the warehousing, they even do the order processing and the customer service. So I can just focus on building a business and putting good products out there. And I'm going to show you how to find those in a second. And then by mixing the power of Amazon, I throw in a few ninja tricks that I do on Facebook, which really Aren't all that ninja. It just sounds cool in a PowerPoint presentation. They're pretty simple stuff, pretty simple things you can do. But if you use sites like Facebook or Kickstarter, what that allows you to do is show your products to a lot of people even before your product is ready. And that allows you to enjoy success from day one without risking a lot of capital and without having any products that fail and make you feel like you screwed up this business. So if you leverage Facebook and or Kickstarter and you use the power of Amazon, you can be in front of lots and lots of people who want your product and want to buy it from you. So this combination has allowed me to be the proud owner of Facebook. Four multi million dollar businesses. Before I was 30, I have built and sold multiple businesses and I've received eight figures in cash from the sales of my businesses. And I have taught this strategy to other entrepreneurs and I have helped create over 100 million dollar businesses as a result. And my students collectively sell over $100 million per year physical products. And my results have looked something like this. I have really enjoyed the process of building these businesses and enjoy the lifestyle that this has been able to give me as a result of using this combination. And I just throw this one in here for credibility and bragging rights. But this was one of the checks that I received for selling one of my businesses that was, that was a really fun day, obviously. So I don't know if you ever watch Shark Tank, but this is one of the businesses that Lori Greiner, Lori from Shark Tank, invested in and it's the most successful business on Shark Tank. And this is called the Scrub Daddy and it's just a sponge. It's a super simple product. And I'm actually showing this to you as something what not to do. And the reason for that is I have found that most entrepreneurs think that they have to invent something new. And inventing something new is great and you can have breakout successes like this Scrub Daddy. This Scrub Daddy was a sponge that got harder in cold water and softer and warm water. Really cool invention. But you don't have to create something brand new like the Scrub Daddy in order to have a multi million dollar business. I got to sit down with Robert of Shark Tank and pick his brain at one of our events and talk about how most businesses and most people build businesses. And what we agreed upon.

Was that most businesses are not necessarily just product driven, they're people driven. And what I mean by that is behind every product there is a person. And I found that when we think about the people who are buying products, that it's a lot easier to decide what products to sell. Let me tell you what I mean. I just made up a group of people and I picked cyclists. And I am not a cyclist. I can't remember the last time I rode a bike. So I just made these up off the top of my head. But cyclists already buy a lot of products, right? If you're passionate about, if you're passionate about cycling, you've probably bought a bike helmet, a bike, light reflective clothing, water bottles, iPhone, holder horns and chimes, all this stuff that you've seen on your screen. This is 10 products that I made up with off the top of my head without doing any research or even knowing much about cycling in the first place. So all of these products get purchased by the same person. So I have found in my experience that if we decide on a group of people that we might like to serve or a topic that we really like, it's really easy for us to come up with products for us to sell. And let's just take a different example. If you're into the Paleo lifestyle, you might sell protein powders, or you might sell low carb shakes, or you might sell CrossFit gear, and we could come up with other things that that person buys. So if you can think of anything that you really enjoy, the different products that you buy to experience that enjoyment, you'll probably come up with a list of different products that you have bought as a result of liking that thing. So here is the beauty of this. Okay, if we pick a handful of these products, I can show you the math behind a seven figure business. And it looks like this. If you want to have a million dollar business, then all we really need is 25 to 35 sales per day, over three to five products at an average price point of $25. That gives you a million dollar business. That's pretty simple math, right? So we don't even need to do all 10. We just need to pick a couple of those products and get it to about 25 to 35 sales a day at about 25 bucks. Now how do we do that? Well, we're going to do that by leveraging the power of Amazon because Amazon's already where all of those customers already are. So I want to tell you a quick story about one of our students. His name is Jeremy. He's become a really good friend of mine. We actually met in the airport in Bangkok, Thailand. You'll hear that story In a second. But when I met Jeremy, he was kind of bouncing around from different opportunities and then he just decided, I'm going to build something real. And his first product was, it didn't work out that well. But he got plugged in our community and started following the things that we teach and following the model I'm teaching you here. And he hit seven figures within a few months of just following the plan of releasing products to a specific audience. So today he runs a multi million dollar business with a mission. He's really proud of that company and he's proud to call himself a millionaire entrepreneur. So if you want to hear his full story, you can get. We interviewed him on the Freedom Fastlane podcast. You can go to freedomfastlane.com nested because his brand is called Nested Naturals and you can listen to that full story. Actually, I want you to hear him talk about his process and how he grew. So give me one second, let's listen to what he had to say.

This is my buddy, Jeremy Shirk. We met in the Bangkok airport several years ago. What were you doing as a career when? A couple years ago when we met.

In the airport, I was selling ping pong balls in Thailand.

And what happened like over the after we met and you started a new business and you went through the formula, what happened?

I have to pinch myself to see the transition between that time, which doesn't feel like that long ago, running a million dollar company with my partner here, Kevin, and you know, making a difference in people's lives and just doing things the right way. I'm in a great place right now. We're in San Francisco on a dinner yacht.

Alright, so you get the idea. So Jeremy's first product wasn't a big success. He was selling ping pong balls. But then he decided to follow this formula of releasing physical products to the same group of people and he built up a really successful brand. Now one of the cool things about doing this is that you end up building a business that you can sell. And I have sold business. I've also bought businesses like this in the past. This is my buddy Troy Johnston and he came up through some of our trainings. He started a company called Foxbrim Naturals while he was working full time. And he took that brand to over a million dollars a year by following the plan that you're seeing right now. And when he wanted to exit, when he wanted a payday, he sold his business for seven figures. And I know because I bought it, I bought the business from him and Now I'm growing that company because I believe in this model. You can hear his story@freedomfastlane.com Troy so that's the Cliff notes of how you build a successful brand. And how you choose your first product is by identifying who the person is that you want to release products to, identifying those five to 10 products that they already buy. And we just pick a couple of them and we release them on Amazon. And we can use some other little things, some other little tricks in order to get those selling 25 to 35 units a day pretty quickly. Now usually when I teach this, several questions come up, like where do you get the products? How do you automate this process? How much money does it take to build a brand and how do I eliminate the risk? Is this risky? And can I limit my downside? How big can these businesses get? Well, I can tell you some of them can grow to $10 million a year and above. And people ask how do you do this profitably? How do you make sure that you're making a good profit and you hit the ground running from day one? And also I'd like to see some case studies, some examples of businesses that are working right now that would help me understand it. So I decided to put together a training class that will show you how to build a successful physical products brand and sell up to $10,000 within the first 90 days. And my goal for this class is to actually give you the ability to go and do this and be able to apply what you learn. And I do that by showing you three big secrets that will help you build a successful physical products brand in 90 days or less. The first thing I'm going to show you is how to find the perfect products to sell. And when you have just that perfect, that perfect group of products that will allow you to easily move forward. And it's how I sell up to a million dollars a month on Amazon.com without guessing and without seeing or storing a single thing. So that's the first secret I'm going to show you. The second secret is something I call the overnight success method. This is how I use Facebook to generate 10,000 to $100,000 the first first month and ensure that your products sell consistently from that first day so you never have to worry about a dud product that fails. And the third secret I'm going to show you is my 12 months to 1 million plan. This is a really popular thing that I have taught. It's going to show you how to get a million dollar or how to how to build a million dollar business in 12 months or less without investing a ton of time or cash. It's actually a simple formula that I put people through that that helps them go through the process of actually releasing products and getting it to that million dollar level. So you can find that training class by clicking the link below. I teach this regularly. I really enjoy working with entrepreneurs, specifically entrepreneurs who care about releasing good things in the world and take responsibility for creating the success that they want to experience in their life. So if that's you, if you want to build a new business, or if you want to add a physical products brand to your existing business, I can help. And I've helped a lot of people and I think this training will really help you. So it's a free training, but if you click the link below, you'll see when the next time we're having that class is. You can sign up for it then and I'll enjoy teaching you some more of the stuff that's working for us as well. So I hope you enjoy it. I hope we get to work together in the future, and I hope you found this video helpful and I hope it makes a meaningful impact in your quest for success. So thanks for watching and I hope to see you on our next training class. Click the link below to go ahead and sign up.