I have exciting news! Amazon millionaire Ryan Moran is ready to teach you how to build a $10,000,000 online brand on Amazon. How would your life change if you made $10,000,000?
After I spoke at the Amazing Seller Summit event in Las Vegas earlier this year, I got to the opportunity to interview my good friend, Ryan Moran.
Ryan is the Founder of Capitalism.com, and the CEO and Host of Freedom Fast Lane, a podcast that helps high achievers build businesses and then invest the profits. You can also check him out on his YouTube channel.
Ryan has built and sold many successful online businesses. This Amazon millionaire reveals how to make $10,000,000 on Amazon.
To this day, he believes that the most predictable path that you can take in order to create a 7-figure business is by building a physical products brand.
Watch the video below:
(Click here to watch on YouTube)
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Here is a sneak peek of my interview with Ryan Moran. This Amazon millionaire reveals how to make $10,000,000 on Amazon:
Can you share a little bit about your story? How did you get started, and how did you get to where you are today?
When I was 15 years old, I heard my Mom in the other room crying because I had broken the washing machine. This baffled me. I worked at Dunkin Donuts at the time and I knew that I could just take the money from the tip jar and pay for the washing machine. From that day forward, I decided that I never wanted to have that type of life.
One of my customers at Dunkin Donuts gave me a copy of the book, Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!. In that book I learned one thing – that rich people acquire assets. I started my first business in college. I did affiliate marketing, which is where I made my first $100,000 and then my first $1,000,000. Ultimately, I wanted to get to the point where I was building something that was mine, rather than someone else’s. Five years ago, I took the skill-set that I learned as an affiliate marketer and started to build physical products brands.
Why do you think that Amazon is such a great opportunity for someone that is brand new and that wants to build an online business?
I don’t. A lot of people think that Amazon is “the way.” It’s a tool to get whatever it is that you believe in, out to the world. You can get married to an opportunity, but it still requires you define who you are going to be and what your business is going to be about.
Amazon is the best opportunity that I’ve seen for being a vehicle for making that real. Have you ever heard of the “be, do, have” breakdown? It asks, “Who do you want to be, what do you want to do, and what do you want to have?” There is an order to that, but most people start with what it is that they want to have. Let’s say it's making $10,000 per month. In my opinion, the fastest way to make that money is to say, “Who do I want to be, who do I want to be around, what is my business going to be about, and what can I do within that business?”
Can you share what the benefits are of building a brand?
I’ve sold my brands for millions of dollars and that was because I had an online brand instead of a bunch of random products. A brand can sell the exact same product for twice as much because it is a brand, and people will choose that because they believe or identify with it. One is sellable and one is always going to be price-sensitive and review-sensitive.
The reason why most people don’t build a brand is because it takes more thought. People want to be told what to do, rather than put a stake in the ground and say, “This is what I’m going to be about.” The Amazon formula is helpful once you know who you are going to be.
What do you think are the biggest mistakes that people make when starting a business?
The biggest mistake that people make is that they think short-term. I always take the approach, “What do I want my business to look like 5-10 years from now?” If I have that as my guiding light, I’m wiling to navigate the bumps along the way.
If your strategy is that you want to hustle your way to achieve your first X, and you run into a roadblock, there is a high chance that you will quit, if you don’t have something pulling you through that. I won’t start any project that I am not willing to commit at least one year to.
What is your advice for someone that wants to start an online business?
The habits that you practice over a long period of time are what get are going to get you the results that you desire. One of the best books I’ve ever read is called, The Slight Edge: Turning Simple Disciplines into Massive Success and Happiness, by Jeff Olsen. It’s main thesis is that the results that we get in our lives don’t come from big leaps, but by the constant habits that create big leaps. You need to swing and miss a lot in order to hit that home run. I have swung and missed many times, but most people only see my home runs. I was willing to suck until I didn’t suck anymore. Entrepreneurs are the best shot that we have at creating change in the world. Start a business and take control of your life.
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