In Episode #317, Nathan interviews Ryan Moran, creator of the Freedom Fast Lane podcast. Ryan’s new venture is Capitalism.com, which will go live in June. He’s making millions from multiple revenue streams and about to run his second conference. Listen in to hear Ryan and Nathan talk creating authority, how to game the Amazon ranking system, and why running conferences is worth the effort.
- Favorite Book? – Ready, Fire, Aim
- What CEO do you follow? — Glenn Beck
- What is your favorite online tool? — My journal
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be? —That there were going to be compounding returns on everything he did. I wish I had gone bigger.
Time Stamped Show Notes:
- 01:18 – Nathan’s introduction
- 01:46 – Ryan was interviewed in episode #140 of The Top
- 02:05 – Why go from Freedom Fastlane to Capitalism.com?
- 02:45 – “We wanted something more authoritative”
- 03:45 – Paid $100k for the domain name
- 04:40 – Ryan’s generating about $1 million in topline revenue per month through Amazon products and his coaching programme The Tribe
- 05:20 – Access to The Tribe costs $2000 for coaching, conference calls, and physical meetups
- 06:38 – Revenue breakdown is 25% coaching, 75% physical-product businesses
- 07:40 – Best-selling product is fish oil, which sells for $20 per unit
- 08:22 – Product costs $5; Amazon takes around 30% in fees – so $6.50
- 09:30 – Makes about $7 profit per unit
- 10:40 – Sells around 150 units per day
- 11:05 – “It’s still fairly easy to game” the Amazon system
- 11:30 – The Amazon ranking algorithm is based on volume of sales
- 12:50 – Ryan also makes money from a yoga business; real estate; and other product sales
- 13:45 – Why do conferences?
- 14:05 – “I wanted to create the conference that I wanted to attend”
- 15:09 – Expecting 750 attendees at the next conference; tickets cost $1497 or earlybird $997
- 15:16 – At the last conference, spent about $170k on speakers; $70k on AV, and $80k on catering
- 16:08 – Revenue was around $400k; profit around $50k
- 16:20 – Expect to spend around $200k on speakers this year
- 17:00 – “We don’t aim to make money from conferences – it’s a pure branding and networking play”
- 17:25 – What would Bernie Sanders say about your brand of capitalism? Is it unethical?
- 17:50 – Subscribe to Ryan’s podcast at Freedom Fast Lane
- 19:06 – Famous Five
3 Key Points:
- Wealthy people have multiple revenue streams – diversify
- There are compounding returns on everything you do. Risks and failures go away fast – but successes stay with you
- Maybe it is unethical that people are paying $1497 to attend a conference while other people are sleeping on the street. Who knows?
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Freshbooks – The site Nathan uses to manage his invoices and accounts.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
- Show Notes provided by Mallard Creatives