Capitalism.com with Ryan Daniel Moran

Wendy has been really very busy working on getting her business where she wants it to be, but she isn't seeing the needle move.

"Do you want a testimonial? You just changed my life!" find out what Ryan told Wendy Kim during this exclusive in-person one-on-one.

Every time Ryan visits his grandparents, he pretends it's the last time. He's been asking them about their lives, their greatest moments, regrets and secrets for longevity and happiness.

Today he shares what 2 things all of his grandparents agreed was key to a fulfilling life even through economic depressions and wars.

John Mackey, Founder of Whole Foods, took a liking to what Cap.com is doing. In this never before shared talk from the Capitalism Conference, he shares the story of how he grew Whole Foods.

What exactly is Conscious Capitalism? John takes us on a brief history tour of Capitalism, how it came about, what it drove and what it should become.

Key takeaways

Capitalism [3:51] John outlines a few of the ten principles that underpin true Capitalism, not the crony Capitalism -- or Crapitalism -- we see today. He also paints a portrait of the United-States' steady decline in economic freedom.

A brief history lesson [8:00] 200 years ago, 90% of everyone alive was poor, but as Capitalism began in Holland and steadily spread all the way to North-America and Asia, prosperity has since then increased 10x in the low lines!

Zero sum games? [14:55] John debunks the idea that for someone to become rich, another is required to become poor. In truth, where Capitalism is embraced, the floor rises: mortality and illiteracy rates drop and GDP rises.

Morality [18:05] Capitalism's voluntary exchange principle (competition) easily contrasts with Socialism where the government controls everything (monopoly). In terms of ethics, it's hardly a difficult choice: because no one owns customers, competition forces businesses to always strive to be better in order to keep the privilege of their customers' money.

Not only is it ethical, Capitalism is the only system that drives growth and innovation. The only system that creates value.

Scandinavia [25:16] Sweden - that Socialist beacon - has a corporate tax rate of 22%! Compared to that of the U.S. at around 40%, you begin to get a sense that when businesses are allowed to keep their money and reinvest it, it really drives prosperity.

Sweden is not really Socialist, it's a Capitalist country with a really strong social welfare component, a safety net: they take care of their people.

Perception [28:29] Despite business being ethical - voluntary exchange, noble - elevating existence, heroic - creating prosperity… Despite all of that business people are mistrusted, John tries his hand at why this may be.

Technology and people [35:09] We are better informed, connected, educated, becoming more intelligent, living longer, more mindful, more aware, more conscious. In that sense, we are the evolution companies must take, businesses have to become better, more conscious.

Conscious Capitalism [38:56] John walks us through the 4 tenets of conscious Capitalism.

1. Purpose

2. Stakeholders

3. Conscious leadership

4. Conscious culture

Conscious leadership [40:42] Work on yourself, know yourself, it'll make you a better leader. Emotional intelligence is worth its weight in gold, and if you're in the service industry, hire for that.

Understand who you are and what you're not good at to avoid hubris, because nothing corrupts the mind like success! It isn't about you, you are to serve your business and your stakeholders.

Old tips! [52:00] Because he rambled before, he can't ramble now, so John quick-fires his tips! Life is short, do what you really care about. Learn and grow, always. Invest in your relationships. Practice forgiveness. Move away from ideology: it is intellectual death. Find coaches and mentors, but know when to make you own decisions. Culture eats strategy for breakfast.

T.A.C.T.I.L.E. [58:49] John talks about a few of the items in the book Conscious Capitalism, including the role of love, integrity and ethics in your business.

Conclusion [1:01:00] There is nothing we can't do if we unleash our creativity and keep creating value for the world.

Thanks for listening!

This episode is straight from Flynn Con in San Diego put on by Pat Flynn of the Smart Passive Income podcast. We set up a Capitalism.com advice booth and waited to see who would walk over and sign up to sit down. An attendee named Jessica Dhillon came by, having never heard of Ryan Daniel Moran or Capitalism.com before, and she asked about the direction she should go with her new podcast - The Smart Franchisee. In her show directed at entrepreneurs and 9-5ers who want to buy a franchise, she gives the real story about what it's really like and what you need to know before buying a franchise. However, she worries about being too blunt, making enemies, or being too controversial. On this episode of Freedom Fast Lane, Ryan shares his thoughts about all this...

Today's episode is a leaked interview with C-Money where he asks Ryan pointed questions on which subjects he chooses to talk about during the 8-Figure exits workshops and why.

Get a glimpse of Ryan's strategic questions directed at helping shift entrepreneur mindsets from working in their businesses to running their businesses.

Key Takeaways

X-Figure exits [1:37] The workshops are there to lay strong plans to build the exit. They are built to help remove some of the stresses of business.

The Big Picture [2:43] Setting the amount of money that you would be comfortable living your ideal life with is the first step to breaking down the path to it into manageable pieces. It also provides a filter through which you should make all your other decisions.

Most can't handle it [4:15] Entrepreneurs don't all have the skillset, time, knowledge or energy to run an 8 figure business.

Giving up equity [6:11] Your job as an entrepreneur is to bake the biggest pie possible, and if you've baked a big enough pie, you will have enough to share. But to do this efficiently, you need to find the people who have the ingredients so you can oversee the baking!

Hiring? [9:27] Attracting and retaining good talent is simple: people want to be part of something and they don't want to work for crappy businesses: you have to build something people care about. The tough thing for entrepreneurs is they often don't care about the business, they care about what it gives them: guess who doesn't like it either…

Only build the business you want!

Thank you for listening, it means the world.

Mentioned in this episode

Capitalism.com/FFLpodcast

Contact Ryan on Twitter @ryanmoran

Contact Ryan on Instagram @ryandanielmoran

This is part 2 of a 2-part discussion with Patrick Donohoe, the go-to wealth management guy for Ryan's wealthiest peers and today's discussion is centered on how everything comes back to 'who'. Where do The One Percent really invest their money for the highest ROI? This second part of the interview explores this very idea.

Key takeaways

Everything is people [6:36] everything that has to do with money involves people, successes, demises, everything - Patrick shares how some of his clients and friends use the Kiyosaki B-I Triangle to audit new companies they purchase.

The Pareto principle [10:00] Products are a reflection of what you are doing as a team in the world - choosing who your team is, who your customers are and what systems and structure underly a business is more important than the actual product.

Shifting mindset [13:10] there is an enormous step to take from being self employed to building a sound company and most people will not be able to take it.

Old clues [14:17] Partick shares how he learned to look for clues from older generations and how he understood that you need to not wait to live your life.

The solutions [19:33] most people are in their own way: the actual hard work is to define what it is you want and why you want it. When you figure that out, all of the solutions are there.

Pick an aim [23:10] Because most of us live in a world of plenty, where lethargy can lead to survival, picking a goal just to get up and start is critical. You will be able to adjust the aim as you learn and refine your values.

Bespoke investment strategies [25:54] Finance isn't as complicated as people believe, and there are so many options to choose from that one solution will not fit all, you should customize your investment plan to your specific needs.

Is this for you? [28:38] You can find Patrick Donohoe's book Heads I Win Tails You Lose: A financial strategy to reignite the American Dream, in hard copy and in audio version by following this link. For more information visit paradigmlife.net

Relationships [30:58] Patrick shares how he came to understand that he had to move away from his introverted tendencies and that the ultimate value proposition is in relationships.

Subjective pleasure [35:32] Patrick takes the discussion home: figure out why, and Ryan shares the 5 steps to freedom:

1. Decide

2. Cut out

3. Expand

4. Invest

5. Give

Editorial [37:52] Ryan shares his impressions from the interview.

Thanks for listening!

Today, Ryan and Khierstyn Ross discuss how most entreprepreneurs go about building their business backwards, rethinking the Hero's Journey and using crowdfunding to launch brands.

Have you ever wondered what the next big thing will be? Ryan shares his prediction on the next big opportunity and how to tap into it.

Key Takeaways

[1:21] KRoss awkwardly introduces Ryan Daniel Moran in a nutshell and lays out what she'd like to ask during this interview.

Spoiled physical products people [4:17] The gravy train of sales Amazon created has enabled entrepreneurs to go at physical products backwards. It should all start with the audience.

What or who? [6:17] Ryan has ownership in 5 brands and is active in 3, WHAT you sell is important, but WHO you sell two trumps that by miles — let's say a 20% to 80% ratio!

Identifying good brands [8:17] for Ryan, it's all about audience, there is no other litmus test factor — they will tell you what they want from you and you can act accordingly.

7 times harder to get a new customer [10:07] most physical products people don't talk about return customers, followup, backend, upsells, customer experience — they miss 80% of the scale that is possible!

Have you found an audience? [11:30] An audience worth the name has to be in your control (not Amazon, Kickstarter, Shopify, etc.) look for email lists, social media platforms.

Now the Amazons of this world are great R&D labs!

Mat or Yogi first? [12:51] Ryan's first physical product was a mat and as soon as he placed the order he decided he had 6 weeks to build the audience for it. You have to manufacture your own demand.

The question you need to ask is: who is the person buying this?

Braingasm [15:33] identify who your core customer is — Ryan shares a story from one of his workshops.

Right person wrong product [17:00] Ryan shares his personal experience with having the right person and offering the wrong product.

Counterfeiting is par for the course [19:35] China isn't the biggest culprit here: entrepreneurs looking for short term gains are. Tom Bilyeu shares this insight with Ryan a few years back:

1. When you launch, you have 18 months (less on the Internet) before people begin to copy you.

2. Innovate. Always.

Systems for scale [24:08] it really is always about the customer. Always. Ryan's system for new products is asking his audience! Send out surveys, call superfans (yes, pick up the phone.)

Reimagine the archetypal Hero's Journey: your business is the mentor and your customer is the hero. You are not the hero — you are here to remove obstacles from the hero's journey!

Beta testing [27:34] develop a minimal viable product (a few hundred) sell them to your list, on kickstarter or even give them away then ask for feedback and innovate from there.

Thinking through the goal [28:40] a product launch is great to start a business, but not as a recurring revenue machine — what is it that you are hoping to kickstart? What are your products 3, 4 and 5.

Partnering with influencers [32:35] Ryan shares what he believes the next big opportunity for physical products brands is, and how to tap into it.

Thanks for listening, and get in touch with Ryan on Instagram @ryandanielmoran

Capitalism.com/8

This is part one of a two part discussion with Patrick Donohoe, is the go-to wealth management guy for Ryan's wealthiest peers and today's discussion centered on the mindset for wealth.

What are the first steps that happen when working with a financial strategist like Patrick? You will be immensely surprised — and get ready think about answers to really hard questions.

Key takeaways

[3:15] Patrick made his money in financial services. He shares his story, from moving van to where he is today and the mindset change that it all required.

Mindset will dictate your success [7:50] Having a lot of money does not mean that you will be wealthy. The one thing you have to do is figure out what it is you want to be doing in the end, money can't be the goal.

1. What do you really want?

2. Why do you want it?

3. Have you been acting in a way to achieve it?

The infinite game [13:00] Retirement is anti-life, the idea is to keep growing in ways that maximise your experience of life and ultimately contribute the most to society. Be adamant about growing.

The menu [14:15] The way Patrick counsels his customers isn't so much about products and strategies, but more about stages:

1. Certainty — no consumer debt, adequate reserves, healthy savings.

2. Vitality — you use your money to fund a fulfilling lifestyle.

3. Freedom

4. Independence

People are predominantly in the first and second stages. And a lot of people come to Patrick while in those 2 first stages — people are afraid.

Graduating from the Vitality stage [16:56] Graduation isn't going to happen if you're not taking a vacation.

With all this talk, Ryan begins to suspect Patrick's work really isn't about selling his customers products… Helping them find out who they are and what they want is more like it — and palliating their blind spots!

Captive [19:05] Patrick explains what Captive Insurance is — an insurance company you own that provides protection against legitimate business disruptions, and incidentally also serves as a tax ambiguity.

Passive cash flow = freedom? [24:00] Passive cash flow exceeding your expenses would sound like a good path to freedom? Patrick challenges this: freedom is a mindset.

First thing first is you should have a good bookkeeper just to get a sense of how your business is doing objectively.

The gap [26:00] The difference between what a person is and what a person wants is typically twofold:

1. Ignorance.

2. Discipline.

We are all our own worst enemies.

Social conditioning [27:51] There are a million possible financial strategies, but the way we are taught to think about money:

- It is the root of all evil

- Rich people are bad

- Money and time are correlated

So addressing those ideas we have — what is freedom, what is time, what is money is the first step to defining what the vision for your life should be.

What is your purpose, your reason, your soul?

Worthwhile pursuits [31:00] Due diligence skips over the people part… if you strip all of the numbers away, is there something there that still matters?

A business owner's values and how they align with the business itself, as well as what their goal is in the long term are good predictors of a business's success.

The catalyst to eventually making it is the people running the company, their "why", what they are after in life.

Losing [33:40] Who you are and how you act when things are going south say a lot about you… Patrick will not invest in a business owner that has never lost money.

Pause for some decisions [36:17] Before tuning in for part two of this in-depth discussion with Patrick, Ryan wants you to decide what you want and what you're doing all this for. Decide what your worthwhile pursuit is.

Tune in next time, for the number one investment with the highest ROI!

Thanks for listening!

You want to start on Amazon, but you don't know where? Or how? Or with what? Ryan helps you find the sweet spot and one sweet offer.

Key Takeaways

So, what are you selling? [:38] Ryan breaks down 3 criteria for choosing your first product — he advises you do them all together.

Criteria 1 [1:34] Focus on really big markets. Niche products and smaller markets will only ever provide small profits.

Secret [2:58] Big brands are crumbling… They can't release products fast enough.

Criteria 2 [4:00] Choose products that you can differentiate.

Criteria 3 [7:39] Before you choose your first product, choose your second and third products because:

3 to 5 products x 25 sales a day x 30 dollar price point = Million dollar business

It's an insurance for the medium term and a faster route to profitability.

Now I have to pick 3? [9:37] Pick a person, someone you are targeting or marketing to: do they have 3 to 5 things that they buy on a regular basis?

Make a decision [10:21] You can let the Million Dollar Brands training break this down step by step for you for free.

Thanks for listening and get in touch with Ryan on Instagram @ryandanielmoran

Today's episode is a talk Ryan gave at the Health FX event. He is speaking to people in health and fitness crowd, reminding them they are navigating one of the most opportune markets in recent history.

How do you Yoda-fy your audience — and why would you even do that? Ryan explains how to leverage your audience's trust into a business building journey.

Key Takeaways

[1:29] The health and fitness industry is in a unique position in the entrepreneurial marketplace — it's easier to build an audience.

[3:51] If you really want to make a difference and believe in sharing a message with the world, don't waste your time, energy and attention trading clicks for dollars — build a long term asset, and build long term customer value.

[7:05] Here is what a million dollar business looks like:

3 to 5 products

20-30 sales per day

30$ price point

And what you need to take it off the ground is a 10k audience.

[8:47] Stop trying to reverse engineer what other people do successfully. Build for your existing tribe, serve them first and foremost.

[9:31] A brand is outsourced trust, and its asset is the audience. That is the basis on which almost all business acquisitions are made.

[10:56] Big health and food brands are quite agnostic as to where their profit comes from, but they are nowadays unable to innovate as fast as the consumer (information sharing has seen to that).

So if you have built an audience and trust, they will give you money — lots of it — to gain access to that asset.

[14:11] People will hand over leadership to individuals that they trust, and you are already leading your audience on a journey. You have their trust. Your job now is to show them how your products help them navigate that journey.

[16:00] The way we talk about physical health, mental health and lifestyle health has evolved rapidly in the last 15 years and as a result there a massive amounts of smaller communities waiting to be led.

[17:55] Yoda-fy your community and let them take it to the rest of the world.

Thank you for listening, it means the world.

Mentioned in this episode

Capitalism.com/FFLpodcast

Contact Ryan on Twitter @ryanmoran

Contact Ryan on Instagram @ryandanielmoran