Capitalism.com with Ryan Daniel Moran

What are you going to invest your money in over the next 24-to-36 months? How can you reduce your tax burden?

We recorded our awesome Investor Panel from the past Capitalism Conference to help you answer these questions and more. You have to listen to this great talk, filled with wealth-growing and cash-saving opinions (some of them contradictory, which happens in a panel!) that you may be able to act on right now.

DISCLAIMER: None of this material here is formal investment advice. Make sure you talk to a professional investment advisor before making any decisions about where to invest your wealth.

Ryan's not too keen on cryptocurrencies, but the panel as a whole believes they are revolutionary. There's been an incredible growth in the value of Bitcoin over the past few years, with some of our elite panelists seeing further surges in value to come.

While Ryan's not convinced that cryptocurrencies will continue to appreciate as holders of value, the panel was unanimous in its belief that it will change the world. Many industries will benefit greatly from the reduction in transaction costs, and credit agencies could even use blockchain technology as a personal identity system.

Puerto Rican business entities can be a great way to reduce your tax burden. Puerto Rico offers compelling tax advantages over other tax shelters to park your wealth. Make sure you look into all the relevant rules with an advisor, since there are a number of restrictions and obligations you will have to address to best harness the territory for investing your wealth.

Watch out for climbing interest rates. The panel expects interest rates to go up over the next 24-to-36 months. This has prompted a number of investors to transition towards more liquidity and into areas that are expected to grow in a recession; for example, real estate investors switching to investments in mobile home parks.

We hope that you found this talk as useful as we did!

Key takeaways:

• Ryan's not too keen on cryptocurrencies, but the panel as a whole believes they are revolutionary
• Puerto Rican business entities can be a great way to reduce your tax burden, and
• Watch out for climbing interest rates

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Justin Dyson is the proud founder and owner of Kids N' Such, a physical products brand selling useful items for babies and their parents, such as nursing covers, bibs, and baby carriers. He runs the company entirely from the comfort of his own home.

Justin Dyson knows how to turn a failed launch into something really strong. Here's how he did it:

Keep looking forward. After a trademark notice halted sales of a product, Justin decided to just have Amazon destroy the remaining units. He started from scratch, going back to the drawing board and pushing through.

He came up with new products that sold well and complemented each other. Instead of dwelling on the past, he looked to his talents and drive and went for it.

Focus on what works. Justin's found that making more money can amplify pre-existing mistakes. When his business started taking off, he had more money to throw at advertising…

...which meant more money lost on failed advertising campaigns. He then honed back in on what worked well for him (PPC ads, making products that complement existing offerings) and made the business grow more that way.

Make products that solve problems. When Justin's revenue started to flatten, he looked to what his competitors were saying about their products online, and the comments that their customers would post. That gave him a lot of great information to build products that worked for his audience.

Those products are things that solve your customers' problems. It's one thing to make something with nifty-sounding features, but if you want your physical products business to really take off, you need to make things that make people's lives better in a tangible way.

Key takeaways:

• Keep looking forward
• Focus on what works, and
• Make products that solve problems

Find out more about Justin's company, Kids N' Such, at https://www.kidsnsuch.com/.

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Jeremiah is the co-founder of Tribe, a fitness brand specializing in mobile device armbands, with hundreds of thousands of dollars in sales per month. He has since branched out into starting other companies and mentoring other entrepreneurs. He is an equity partner of Roam, a brand selling physical products for outdoor adventuring.

How the heck do you become a millionaire at 20?

If you're Jeremiah, you had a little luck, of course, but you also harnessed your skills and attention to detail to take advantage of your luck.

Here's how Jeremiah did it, and how he would do it differently if he could start again. You need to hear his awesome story, since he's got amazing insights that you can apply to your physical products business right now.

Private labelling can get your foot in the door, but it's hard to scale if you don't take control. If you can find a good designer and take care of your customers under your brand name, you can build trust and loyalty. This translates well into snowballing your business on a platform like Amazon. The problem is you end up relying on a third-party to produce quality products.

So Jeremiah decided to design his own products under his brand, Tribe, which sells mobile device armbands for fitness aficionados. That led to a great boost in positive reviews and sales, while giving Jeremiah control over the products that got into his customers' hands.

Focus on revenue generation. Designing a logo can be really fun and feel rewarding, with something shiny that you're proud to put on your products. But does the new logo actually translate to sales?

Figure out what steps you can take that measurably increase revenue, whether it's a Facebook ad campaign, adding a new feature to a revision of a popular product of yours, or a promotional sale.

Hire a team early. Jeremiah and his partner would get burnt out periodically at Tribe. While they've succeeded in building it to a seven-figure sale, Jeremiah wishes he had taken on employees earlier on.

At Roam, his new company, they've hired a full-time employee and are in the midst of recruiting. This helps ease the pressure off the founders while also adding more hands on deck to scale faster.

We hope you've found Jeremiah's story helpful in your own journey to a multimillion dollar payday!

Key takeaways:

• Private labelling can get your foot in the door, but it's hard to scale if you don't take control
• Focus on revenue generation, and
• Hire a team early

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Paul Miller is a former restaurant owner and now the proud CEO and owner of CozyPhones, a business that makes and sells comfortable headbands with headphones embedded inside. His products cater to children (including those with special needs), active adults, and for those looking for a way to relax before bed.

We've talked to a number of different business owners over the years, each with a different story and path to success. Paul Miller joined us to talk about selling physical products online to hit his seven-figure success. We love physical products businesses at Freedom Fast Lane, but Paul's approach incorporates something a bit different: selling licensed goods.

He explained how you can tap into an exclusive niche this way. His experience gave us awesome, actionable insight into different options for your product development and sales.

Paul spent a long time and millions of dollars on a restaurant business, but that didn't work out in the long-run. After a traumatic accident which broke his collarbone, he decided on a different path: ecommerce. He scaled dramatically within 12 months, selling different products. Now he's landed on a real winner: comfortable headband headphones.

What really amped up his sales was branching out into licensed products. He's worked with other businesses, offering to design CozyPhones with their brand imagery on them, and paying them a royalty on each sale. This has gotten his company noticed by Disney and Nickelodeon, the latter of which has a deal with him to sell Paw Patrol-branded headphones.

That was an awesome catch for Paul, in two ways. First, Paw Patrol is one of the most popular children's television shows across the world. Second, his deal is exclusive, meaning no other business can sell similar headphones with Paw Patrol branding. He's both created and cornered a lucrative market!

If you're in the physical products space, you need to consider opportunities to sell licensed goods. Otherwise you could be leaving money on the table.

Key takeaways:

• Physical products with third-party brand licensing are attractive to consumers
• They let you create a niche and monopolize it at the same time
• Look into partnering with complementary businesses for such opportunities

Check out Paul's company at https://www.cozyphones.com/

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Devin is the Co-Founder and CEO of DSquared International LLC, an eCommerce company specializing in consumer brands. He is a ninja when it comes to building brands on the Amazon platform. He is currently best-known for his Grillaholics line of barbecue products..

Amazon is a great platform for minimizing the friction between creating a product and connecting it to consumers. But how can you scale up and make a big splash in an ocean of global competitors?

That's why we approached Devin Dorosh, who has hit some awesome goals and brand recognition, to share with us tips that you can use now in your Amazon strategy - and maybe even get featured on television.

Stay focused on the things that you do well. Devin made sure he launched products that fit the niche he was targeting, with branding consistent with message. He kept rolling out more products, but focused on doing things well on Amazon (his strong suit) instead of getting distracted with new marketing techniques.

Treasure your interactions with your market, both positive and negative. Devin has a policy of replying to every single Amazon review his products get, whether they praise his goods or criticize them. This helped him build a feeling of real connection with his target market, pushing his brand to best-seller status on Amazon with great reviews.

That unique touch Devin takes with his audience is what got him noticed by Rachael Ray's television show, getting his products and brand in front of the mainstream television-watching population.

Keep to a long-term vision to motivate you through your short-term goals. Growing your business can be a grind. Devin even found himself managing his supply chain during his honeymoon, when inventory matters became time-sensitive. But Devin stays motivated by thinking about the freedom he can give himself, his spouse, and his future children through the strong financial safety net he's building.

We wish you the best of luck on your own Amazon business journey!

Key takeaways:

• Stay focused on the things that you do well
• Treasure your interactions with your market, both positive and negative, and
• Keep to a long-term vision to motivate you through your short-term goals

Find out more about Devin at www.devindorosh.com

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Todd Herman is a high-performance coach and advisor to Olympic athletes, billionaires, and entrepreneurs. Among many successes in athletic and business coaching, he is the creator of the "90 Day Year"; in his own words, "a program for business owners who are frustrated with their level of performance and want a highly refined system to get out of their own way and see their business and personal leadership thrive".

We've had so many amazing conversations with people over the years, so we've decided to go into our archive and bring back some of our favorite podcasts for you. In this Freedom Fast Lane replay, we learn from coach and advisor Todd Herman about structuring your productivity calendar and goals in ways that deliver you better results, in a faster and saner way.

Todd won't deny the importance of a long-term vision for success. But achieving that vision through long-term goals is the wrong way to go about it. We need to stop chasing goals with year-long, five-year-long, or ten-year-long deadlines, and we should instead break down our quest into 90 day sprints.

Why 90 days?

It's short enough to feel tangible and doable, while long enough to achieve a serious goal. You also take advantage of positive neurological feedback loops by bringing the rush of success from achieving your goals more quickly, giving you the drive to ramp up your business faster than ever.

How can you get started?

You pick one particular, high-impact skill or goal that, if you focused on honing right now, would deliver the best performance results. That's your target for the next 90 days.

These can be outcome goals (e.g. losing X pounds in 90 days), performance goals (e.g. doubling Facebook followers in 90 days), or process goals (determining who will do what, when, and where, to enhance business clarity and momentum).

Don't let long-term goals drag down your long-term vision. Break things down into 90 day sprints, and you'll see results sooner.

Key takeaways:

• Long-term vision is important, but long-term goals are inefficient at achieving that vision
• Pick your most high-impact skill or goal, and focus on that for 90 days
• These can be outcome goals, performance goals, or process goals.

Find out more about Todd at http://toddherman.me/

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We had such a great response to Jeff Hoffman's talk that we wanted to share his brief Q&A with Ryan. Even in just 14 minutes, he tells us three awesome, actionable tips that you can use now to build your business and plan for the future.

No matter how good you are, Jeff says, you can't scale up your company without hiring other people. You can't do everything, so you shouldn't try to. Get the best people for the right job and put them to work for you.

Jeff also dispelled myths about initial funding. You don't need to take on debt, talk to venture capital, sell private equity, or try all those other "traditional" approaches to get early cash. Jeff built his airline kiosk company by asking airports for a 50% deposit in advance. That way, he told them, they would be at the front of the line when the kiosks were completed.

It worked! He got a big pile of cash directly from his customers.

Jeff notes that we build businesses to chase our dreams. But sometimes they seem impossible to reach. Jeff's managed to reach his, and he told us how.

Picture your goal, and work your way backwards in time from that moment. Jeff imagined meeting Elton John, and worked backwards from that imagined meeting to figure out how to make it happen (Jeff figures out products that the music industry wants to buy -> Jeff makes that product -> someone in the music industry takes his phone call -> he gets introduced to Elton John).

You can make it happen, too!

Key takeaways:

• You can't scale a business without hiring a team
• You can raise funding without taking on debt or talking to venture capital, and
• You can chase "impossible" dreams if you work backwards from the dream to where you are now.

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This week we go over an awesome, detailed talk about getting the most out of advertising on Facebook.

Curt Maly gave us a ton of practical, actionable information in just one hour. So we wanted to make sure you got those strategies.

These tactics include harnessing organic content properly. Make sure you post quality posts on your Facebook page on a regular basis, then test out which type of content resonates with your target audiences by promoting it through Facebook's ad system.

Don't worry about your clickthrough rates. Clickers are like window shoppers; 90% of your purchases come from people who never click on your ads, but see your content.

Once you've used Facebook's tracking tools to generate lists of audiences with various levels of engagement with your brand, Curt says to host Facebook Live events at least once every two weeks. Every few minutes, make a call-to-action; for example, asking people to say where they're watching from in the comments below, or to comment with questions they have.

That interaction reduces your ad costs, because Facebook detects that you're putting out stuff that other people finds valuable. It also adds new people to your engaged audience lists for further targeted ads.

Curt also urges us to use Facebook Messenger bots now, to automate communication with interested leads and get them to see more ad copy.

Curt gave us so much great tips in this talk. If you want to scale up your business and are looking for advertising advice, you can't miss this incredible hour-long speech. Get into Facebook Ads the right way, before your competitors do.

Key takeaways:

• Focus on generating relevant organic content, then testing its relevance by promoting it
• 90% of your purchasers don't click on your ads, so don't focus on clicks
• Host Facebook Lives for your audience with quality content and regular calls-to-action
• Take a look at using Messenger bots