How To Sell $300k A Month Before The Robots Take Over | #FFLTV Ep 18

Hey fastlaners, I'm Ryan Daniel Moran. Today on Freedom Fastlane tv we're gonna talk about health care. Somebody's gonna get offended. We'll look at predictions for the upcoming baseball season. We're taking questions live from Facebook and we'll look at a seven figure fitness line. Let'.

Hey everybody, welcome to Freedom Fastlane tv. A lot of you may not know that we record the show live on Facebook. It's why sometimes I have my phone out here. So if you're not subscribed on Facebook, head over to facebook.com freedomfastlanetv. You can submit your questions live, we'll answer them and then you see it pop up here and floatin around the Internet. So if you wanna participate on live on the show, make sure you give us a like over on Facebook so you can watch the show when it is recorded live. So hey Facebook, do you want the opening monologue to be about healthcare or about baseball? What do I think of the GOP healthcare bill? I think it sucks. So let's talk about baseball instead real quick. Actually, look, I think we all agree that we want people to have access to affordable healthcare. I happen to think that the worst way to do that is by making insurance companies have guaranteed buyers by forcing people to have health insurance. That's crony capitalism. So while we sit here and we decry the gap between the rich and the poor, we only make that worse if we empower big insurance companies to control the experience while forcing small insurers out of business. So I am against any, any government involvement in health care. So I think the whole debate about how much is a misnomer and that we need to get the government out and that's how we'll ensure the people who need health care most will have access to it rather than start a big debate as if we all already didn't just do it. Let's talk about baseball. It's baseball season everybody. We made it. We made it through winter. We got through it. You know what I do during the winter? I stare outside my window and I wait for baseball season. That's what I do. And it is not baseball season. So I'm all geared up. The Indians are predicted to win the World Series. I love my Cleveland Indians more than anybody. I think that they are going to struggle because they don't have the depth that they did last year. I am calling for a Red Sox Nationals World Series. With the Nationals edging out the Red Sox. I of course hope that I am wrong and that the people who do this full time who are predicting the Indians to win are right. But I just happen to think that it's going to be the Nationals and the Red Sox this year. I got the Cubs right last year and people thought I was crazy. My goal and my dream of course is to own the Cleveland Indians. I will do that by building businesses and investing the profits into other cash flowing assets is what we focus on here at Freedom Fast Lane tv. You've got questions about that process, so let's answer them right now.

Matt Beahy asks, at what point in a new business do you stop focusing solely on driving sales and switch to a focus that is more concerned with profitability?

When starting a business, one of the things that determines how fast you grow is how much you can spend on advertising. This is why I think it's wise for some businesses to go out and get capital and operate in the red until they have enough customers and enough sales flow to be profitable. I think that is the piece and that's the transition point in which it's okay to stop focusing on top line revenue and start talking about profitability. Now some people disagree with me, but I think that you're gonna build a much more profitable business if in the first at least three to six months of the business you can step on the gas and push as much product as possible without having to worry about profitability. So you can sponsor podcasts, you can go get influencers as long as you are not being wasteful with your advertising dollars. I think the first three to six months should all be about awareness. Some people say even longer. So I say be willing to go through that process of losing money until you have the client flow and you have the customer flow to be able to sustain profitability by backing off the advertising dollars. Meaning if you could step up, turn the advertising dollars off, are you profitable? And until you're at that point, you should stay on the gas until you are able to sustain those profits.

Josh Gleave asks, what are your thoughts on Facebook advertising?

My thoughts on Facebook advertising are the same as my thoughts on any type of advertising. It goes a lot deeper than just where you are putting your products and where you're putting your message. It comes down to what is the message that you're giving them. Is it connecting with the people who are there? Is your targeting on point? Ultimately the question is can you advertise profitably given your lifetime value of the customer? So one of the things that people get wrong is they think that it's all about the medium rather rather than the message and the sales process. If you take a really bad sales process, you put it on the best medium possible, you're gonna struggle no matter where you put that message. Whereas if you have a really good message and a really good sales process, that can be put almost anywhere and it can take off. So your sales process and the message is what's most important. And then you can custom tailor it to the advertising platform that you are using, whether that is Facebook or YouTube or Pinterest or wherever you're putting your message. So Facebook advertising is fantastic because you have amazing targeting and you have unlimited traffic. But it is only as good as the sales process and the message that you put in front of it.

A real person asks, what are you going to do when the robots take over?

There's a lot of noise coming out right now. This is a sexy thing to talk about right now. About robots taking over or about robots destroying jobs. I even heard Glenn Beck talking about it on his show recently. Robots are gonna kill all the jobs. Look, I think I'm of the opinion that destroying jobs is kind of a false thought. It's a trap. Jobs just get shuffled because human beings create mental capital. We create creative capital. Yes. We are moving jobs away from being a manufacturing economy and we're becoming more of a creative economy. What that requires us to do is to create more in that creative economy. And as we are freed up from labor capital, we are able and free to do more of that mental and creative production. That is a good thing. Jobs don't really get destroyed as much as they get refunneled into other areas of employment. And that's what I think is called progress. So when people call themselves progressive, I think the most progressive thing that we could do is allow the free market to allow creative destruction and allow us to invent new solutions to old problems. And that's what will progress us forward. How I will make my money once the robots take over. This is one of the reasons I invest. Why I take my money from business and I put into other asset classes. I put it into real estate, I put it into stocks. I buy other people's businesses. This is why I diversify through investing. I don't think you diversify through the businesses you're involved in. You diversify through where you put your money once it is earned in business. And that's what we believe in here, in freedom, fast lane, building businesses and investing the profits into other passive income streams.

This is the part of the show where we look at our students businesses and analyze what they could be doing better and what they're doing really well. Today's submission is Tribe Fitness. Hey, great name, Tribe Fitness, by the way. I know you guys watch this show and you're like, are people actually doing well inside of the tribe? Yeah. So well that I suspect that this company's named after our incubator. So thanks. Tribe Fitness, by the way, fun fact, I have had your products for years. Didn't know it was tribe members Jeremiah and Johnny. Hey, guys. Had no idea this was your brand until recently. In fact, I posted in the Tribe a picture of your products. Cause they had Tribe on them and I sent some. Love your way. So thank you for carrying on the name. Tribe Fitness sells workout gear, running bands, and they currently are selling about $300,000 per month product. Hey, heads up. Your average price point looks to be about 10 bucks, which means you're selling a lot of freaking product. You've also got thousands of reviews. The most reviewed product has 11,000 reviews. You guys are doing a great job. Your imagery is great, your reviews are solid. Even your website, I think, is spot on. You guys have done a fantastic job here. The next step for you is rolling out additional products. Now, for most people at your level, I don't say the next step is rolling out more products, but you're selling such high volume of such few products that the natural progression for you is gonna be, okay, what does a person who buys a workout band, what do they buy next? So I don't get from the sense of looking at your brand that you have the person behind the brand identified, it's very clear that you know what products are going to sell because you're selling a ton of them. The question now is, who's the person behind that and what's their buying behavior? If you ask that question, then there's a host of products that we could sell and roll out really quickly. Especially with the amount of movement you have on Amazon. You could duplicate another product and another product, another product and take this three to $4 million business to a six to $10 million business, probably in 12 to 18 months. So if our target market is runners, for example, then we could be selling running belts, running shoes, running gear. If it's people who are in the gym, then it's workout belts and workout shoes and gloves and all the other things that they would buy. I don't know just by looking at your brand, who the buyer is. You're also extremely price sensitive right now. Now, I understand that you're selling such a volume that it's okay for you to play the pricing game. Question for me is, where is your profit maximizer? Where is the other product that has high profit margins that someone comes back and buys from you because they had a good experience with your low price products? You are not giving people that opportunity right now. You're giving them the opportunity to buy from you once because you rank on Amazon and have strong reviews, but you're not giving them the opportunity to buy from you again. So what's that recurring product that they should be buying from you because you provide it and you had a good experience up until that point? Those are the two pieces that I would focus on for the next three to six months. You've proven that you can absolutely rock Amazon. Great job. Go do it more over different products and more products with higher profit margins that will grow Tribe Fitness. Hey, if you're watching this and you're like $300,000 a month, that is an awesome business. I want one of these. We teach that inside of the brand builder bootcamp over@freedomfastlane.com boot camp and that will take you from no idea or having an idea to up and selling regularly in about 90 days. Or if you're already profitably selling like the guys at Tribe Fitness. You want to be inside of the tribe where we teach this stuff and incubate businesses and help people grow and get into retail and get them funding partners. That's freedomfastlane.com tribe. Or just go to freedomfastlane.com and click on Join the Tribe. Hey, today we covered some interesting things. We talked about healthcare and we talked about growing businesses and we talked about robots. Hey, look, it's my belief that progress happens from freedom. I don't think that we can force progress. I think progress comes from us collaborating and not collaborating by giving power away to people who make decisions for us, but us making decisions together through serving one another, through. Through experimentation, through success and yes, sometimes failure. That is where progress comes from. That's what it means to me to be a progressive, to create more freedom and more opportunities. And we do that through entrepreneurship. We do that through capitalism. So you make an impact in the world by you being personally responsible, by you starting a business, by you investing wisely, by you creating as much wealth as possible for yourself and your family, by I think that's a good thing because it actually creates more opportunities and is a reflection of the amount of value that you bring to this world. There's no reason to demonize success. We should celebrate it and be thankful for it. Because by bringing new value to the economy, we actually make things bigger rather than the opposite. And government only can take from people because they don't create anything. And as a result is not only a zero sum game, but a negative sum game. You, as the entrepreneur, are the resistance to that. You are the counter to that because you bring value. You make the pie bigger. You make the world a better place. We need more people like you. So I appreciate you and thanks for watching the show. See you on the next episode.