Capitalism.com with Ryan Daniel Moran

Ryan had a very motivating chat with Sam Prentice, an investment expert and the co-founder of Wealthpoint, about generating passive income through investments. Here's some of what Sam had to say about what to do if you get a big windfall (from selling a business for example):

Some of Sam's clients used a 1031 exchange to take money from one depreciated property, reinvest it in another property, and defer all capital gain taxes. You can actually 1031 between asset classes as long as they are considered like-kind. Some people exited real estate for a great profit and reinvested the money in oil and gas.

First set up a capital warehouse, which means that you will have a limit to how much you can put into it each year. This is basically a liquid place to store capital which earns a return. For the rest of the money, go for anything cash flow.

Look for assets that have a value and buy countercyclical assets when you don't know what you're doing so that you can trade them later. Always keep it simple. Look for sweet spots, aka places where you have a strategic advantage either in knowledge, or in the people that you know, or the sector you are familiar with.

It was great listening to Sam!

Key takeaways:

• Take advantage of 1031 exchanges
• Set up a capital warehouse and then go for the cash flow
• Keep it simple and look for sweet spots

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Find out more about Sam's company, Wealthpoint, at https://gowealthpoint.com/

Want to know what's coming this year, next year, and in this next coming wave for Amazon, for selling in retail and in marketing physical products to audiences?

I have some thoughts.

A former physical therapist, Mike went all-in on pet products on Amazon and hit it big using pay-per-click (PPC) advertising. Here's some of what Mike had to say about kickstarting success through marketing:

Mike reached his success by focusing on one niche area - pet products. He started with just a few items under one brand name, and expanded to over 40 products under that brand. This lets him get the most out of his marketing spend, since driving traffic to one brand means driving traffic to all his products.

If you're going to drop money into PPC advertising, do it right! Draft awesome ad copy. Craft great graphics. Make it have the best impact possible right out of the gate.

Facebook is great for building an audience. It's not so great for direct response for Amazon products. Make sure that your PPC ads focus on the right venues for the market reaction you want.

It was great listening to Mike!

Key takeaways:

• Optimize your spend with products under one brand
• Craft excellent PPC ads, and
• Put those ads in front of the right audiences

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FInd out more about Mike's company, PPCE Academy, at https://ppce.academy/

Will Clarke of Poo~Pourri - a company making essential oil sprays to neutralize bathroom odors - gave the best speech you may ever hear about taking a dump... and how 1 video can lead to millions of sales.

Hire people who are superb at more than one thing. You'll have a really strong and well-rounded team that can produce excellence, as they understand how to achieve excellence in more than one area.

Poo~Pourri relies a lot on humor to hit success with its ads. That doesn't mean it isn't sensitive to its customers who have serious health conditions, like irritable bowel syndrome. The company adapts its messaging appropriately so it can make those respectful, lasting connections.

Don't sell an okay product, or a minimally viable prototype. Make something that solves a problem in a unique way (like covering up embarrassing smells from bowel movements when others are in the same residence/building) and hone in on that awesomeness in your marketing.

It was incredible hearing Will talk at CapCon!

Key takeaways:

• Hire a team of people who are great at lots of things
• Rely on empathy in your messaging, and
• Aim for excellence, not mediocrity

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FInd out more about Poo~Pourri at https://www.poopourri.com/

Casey Gauss gave brilliant talk about HOW brands are currently crushing it selling products on Amazon at the Capitalism Conference this past winter. The CEO of Viral Launch, he's all about sourcing, launching, and dominating your way to success. If you missed CapCon, now's your chance to catch up on his awesome tips, including:

Source the best materials. Have the best branding. Write the best ad copy. Engage the best influencers. If you can come out of the gate with the best possible product and the best possible marketing you can give it, you'll stun the marketplace.

If there are a number of established players in a product space with 4.5 star ratings, you might be in for a rough time if you try to go up against them. Sure, you might be able to craft a product worth at least 4.7 stars, but that's not going to make a difference in the eyes of your average consumer.

Why go all-in on one marketing strategy if another one might be just as good, or better? Take advantage of split testing to see what the market responds to better, so you can make more effective use of your marketing spend.

It was great hearing Casey Gauss's talk!

Key takeaways:

• Being the best at everything is one way to win
• Avoid crowded markets, and
• Use split testing

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FInd out more about Casey's company at https://viral-launch.com/.

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I recently went on the Life After Business podcast with Ryan Tansom. His show focuses on business exits and what life can be like on the other side after a big payday. After my own big exit last year I am back to brand building and growing Capitalism.com with events like the Brand Builder Summit and The Capitalism Conference. My mastermind group The Backroom is geared towards helping entrepreneurs build sellable businesses so they can have an 8 or 9-Figure exit of their own.

I just had a blast going to Kiev, Ukraine to meet with and talk to lots of entrepreneurs. In this presentation I talk about how to kill it in the physical products space.

How can you do it? Offer 3 to 5 products. Price them at $25 to $35 each. Sell 25 to 35 of them a day. If you can keep that up, you'll have made a million dollars after 12 months. It's a simple formula, but It'll take hard work to get to that point and keep it up.

If you can find a thousand people who are really interested in what you have to offer - whether it's through Facebook, Instagram, a blog, or whatever - you can find 100 people in that group who to become your brand's superfans. They'll buy your products at full price and incessantly rave about how awesome your brand is to their friends and family online and offline until they buy it to get them to shut up about it.

Who wouldn't want fans like that? You can find people that dedicated by targeting a superniche in a way that really speaks to them as human beings, even in a market that seems otherwise saturated.

Don't feel like you're a "bad" entrepreneur because you're "only" making hundreds of thousands of dollars a year when you see others who have scaled up to 7, 8, or 9 figure success. Even multimillionaires have their insecurities. It's all about the chase to live a life on your own terms, not someone else's. Don't lose sight of that.

Key takeaways:

• There's a simple formula to become a millionaire in 12 months
• Target a superniche to build a faction of raving fanatics for your brand, and
• Don't focus on how well others are doing.

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We usually never leak calls from our mastermind group The Backroom but I think you will find this excerpt particularly useful. There is so much money to be made when you are HAPPY and in your zone of genius, not putting out fires and doing low-level tasks that can be delegated or outsourced. This episode of Freedom Fast Lane is all about staying in your zone of genius.

I just had an intriguing chat with eCommerce entrepreneur Jeff Lieber on what new strategies can keep your business relevant on Amazon RIGHT NOW. If you're working in the online physical products space, you need to listen to this episode today.

Amazon Giveaway is a powerful means to drive interest into your product. You can get really creative with it and get a lot of business. For example, Jeff uses Amazon Giveaway to run contests, getting thousands of people to watch a promotional video in exchange for only two product gifts and some small discounts for those who didn't win; a really cost-effective offer!

Ryan and Jeff know that Amazon is a dominant player in physical products sales. However, even successful business with a strong presence on the platform still expose their products to other markets, such as retail. The more you diversify how you offer your product, the less reliant you are on Amazon for success.

It's important to believe in what you're doing as an entrepreneur; there's no better way to motivate yourself. If you want to ensure your business remains successful, you need information to support that confidence.

Get knowledge of the sector you're working in, what opportunities there are for you and your company, and who you might want to add to your team, and you could ensure the future for you and your business.

It was great chatting with Jeff Lieber!

Key takeaways:

• Amazon Giveaway is powerful
• You don't run an Amazon business, but you may run a business that uses Amazon, and
• Inform your confidence in your business

Learn more about Jeff at https://www.turnkeyproductmanagement.com/jeff-lieber/

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