Selling Supplements on Amazon, Goals, and Who to Hire | FFLTV Ep 8


– It’s episode eight. Hah. (beep) Hey everybody, welcome
to Freedom Fast Lane TV. I’m Ryan Daniel Moran. Today we’re going to talk
about the role of government. We’ll talk about New Year’s
resolutions and goals, the order of which
entrepreneurs should hire, and we’ll talk about selling
supplements on Amazon. Let’s go! (upbeat music) So it’s a new year, new president, new optimism, for some. New pessimism for others. And this is the time of the year where everybody is planning their life to be completely different
a year from now, right? We know them as “New Year’s resolutions” Look, we all know New Year’s
resolutions don’t stick, they don’t work. Let’s talk about New Year’s *goals*, instead of New Year’s resolutions. Because I believe that it takes a year for you to really commit and
get results out of anything. I committed to doing the
Freedom Fast Lane podcast for a year before I would
ever even analyze the result. I’ve committed to doing
Freedom Fast Lane TV for a year before I determine if it’s
a success or a failure. My training, about 12 Months To 1 Million, I very publicly say when
we’re selling that training, The Brand Builder Bootcamp, we say if you’re not willing
to work at this for a year before you have a million dollar business, we don’t want you. Now I have plenty of students who have hit the million dollar mark in month three, or month six. But they got there because
they had a long-term focus. They did not get there
playing the short game. They got there faster
having the long game. There are plenty of people who lose weight and then gain it back all
within a six month period. They lose it and then they gain it back. The question is, who do you want to be, where do you want to be, what do you want your life to look like, one year from today? And then you can plan out the
habit that will get you there. I have a podcast episode with Todd Herman. You can listen to it over
at Freedomfastlane.com. or you can subscribe on iTunes and just scroll to the
episode with Todd Herman. He is a sports psychologist. I think that was your title, Todd. Sorry if I just botched it. But basically he works
with high performers to get the most out of their performance. So one of the things he talks about is chunking your goals
into 90 day sprints. So you can have a year time horizon, but having it done in 90 day sprints. And when you have that type of a deadline, you get way more done and you often get a year’s
worth of results in 90 days. So I like to say what do you want your life to look
like a year from now? And then let’s break
that into 90 day sprints. That is gonna be how you actually achieve the things that you want to achieve. So if you wanna have a business in 2017, how, what do you want it to
look like a year from now? Not six weeks from now, not six months from now. What do you want it to
look like a year from now? And then plan out the daily
habit in 90 day sprints of how you’re going to
build that business. Same thing with your body,
same thing with your family. I believe you can radically
change your life in a year. I don’t subscribe to the idea that we overestimate what
we can get done in a year. I think we tend to sell ourselves short. It’s really, people aren’t willing to do something for a year, and that’s why they don’t get the result. So one quick thing that you can do right now to ensure your success? Get into a group of people who have already done what you want to do. Whether that is fitness, going to a crossfit gym with people who take off their shirts and make you feel like a fatty fat fat. Because they’re already doing
what you want to do, right? So that type of accountability, being around that people, is
actually how you hack success. Because your brain normalizes
whatever it perceives. So if you’re a room of millionaires, like a lot of people were
at Freedom Fast Lane Live, there’s a natural up level. Cause your brain has to reset, it has to recalibrate. It has to align with
whatever is going around. Your brain is a normalizing machine. So whoever you surround yourself with, you will normalize. Whether it is body,
fitness, money, whatever. So if you’re building a business, join The Tribe, join The Backroom, depending on what level you’re at. If you are a millionaire and you want to be a deca-millionaire, get into The Backroom. If you are a six-figure earner and you’re ready to be
a seven-figure earner, join our tribe. If you’re just starting a business, don’t just buy a training. Get into a group that has done it before and can come back and
pull you alongside them. That’s what we do in our
Brand Builder Bootcamp. So, what do you want your life
to look like a year from now? Put it into 90 day sprints and then join a group
that has done it before. And that is how you will ensure that this year is actually the year that you do the things that you’ve always said you want to do. (upbeat music) I believe that the best
way to financial freedom is to build a business
and invest the profits. And today I get to be the student because we’re going to recap
some of the best questions that were answered at
Freedom Fast Lane Live. One of the most popular presentations at Freedom Fast Lane
Live in December of 2016, was with Cameron Herold. And Cameron basically laid out the model for going from one million
to a hundred million. Something that he has done several times, and that he walks his clients through. Including Amazon e-commerce owners, people who have tech companies. He has a bunch of different clients and we were going through his process. And he laid it out of growing, having that type of a rapid growth. And he talked about his Vivid Vision which he explains in depth
in his book Double Double. But there was one specific question that I wanted to know from Cameron, because he laid out the plan, but I wanted to know, what about the team that will
need to rally behind you. So I asked him the order in
which entrepreneurs should hire, and here’s what he had to say. The biggest transition that I have seen, like the biggest challenge, has been for those individuals
to get the first hire right. Or to start learning
how to build the team. For the last year there’s
several of our backroom members who are one and two man
shows and now they have, there’s the first one that
was really really difficult but after that the team
starter to blossom. So what have you seen be that process for hiring the right person, or who are the first hires that you think need to be in place in order to get that moving. – Sure, so and even before the first hire, I think a lot of it is
our stop-doing list, or I call it my fuck-it list. You’ve got to look at a lot of the stuff that’s on your list of
stuff that you do day to day and decide what things
you’re not gonna do anymore, cause some of it is just pointless. So the next hire that I would get into is actually start outsourcing using oDesk or Elance, and looking for fractional
people that I can hire who can do little bits of work instead of full-time employees. The first full-time employee
I’m probably gonna get to is either gonna be a
sales or marketing person, probably sales person, anyone who can drive revenue. So in my world, revenue solves problems. There’s not a single problem that exists that can’t be solved by a check. So the more gross margin
you have coming in the more people you can hire. So, I’d be looking for
revenue producing roles versus overhead and then hiring fractional
people as much as I can. – Do you think that you should hire people that will grow into a role, or people that have already done it? – I ideally like to
hire ahead of the curve, so I hire people that I know
I’m gonna need in two years, I try to hire them early and tell them to roll up
their sleeves and get dirty. It’s like I know this role
is a little bit beneath you but look where we’re going. So you use the vivid vision
as a way to attract them. I’m hiring people who have done it before as much as possible, which is why I like outsourcing because I can really get
people that have done it. More often than not we don’t
need full-time employees, we need some stuff done, but we don’t really need an employee, we just need the stuff done. So if you can get somebody
who can do it in three hours, three hours once a week. I’d rather have some fractional people, some part-time people, than a full-time. – What would you consider the difference, meaning for what role would
you hire a full-time person? – Sales. – Because there’s a lot
of people in the room who are saying, I have a lot of things
that need to get done. How do I identify which
ones need to get outsourced and which ones need to
be full-time people? – You start grouping
all your tasks together, all your projects together into buckets, and you’ll start seeing
that some of the buckets have a lot of stuff and as soon as you have enough stuff that is gonna be getting
done for a number of hours, you can say, okay now it’s
really a full-time role. But if you see that it’s stuff and it’s only a few hours a week, then you can outsource it. As soon as your stuff gets to
maybe thirty or forty hours, then you’re going to start
hiring full-time people. – I bring this up to you today because this actually had an impact on me. I had never heard him answer the question in this way before. Usually I’ve heard Cameron say, “The first hire you need to
make is an Executive Assistant. “The second hire you need to
make is a Project Manager.” And he talks about sales
later in the process. So I’d never heard him say, “Sales is the first hire
that you need to make.” And it made me realize
there’s no one in the company, except for me, that’s
been in charge of sales. In any of my companies. I’ve always been the salesman. I’ve never had to think about, I’ve always had to think about putting money in the bank account, rather than saying, who else is putting money
in the bank account? I’ve never had that off my shoulders. I had never even thought about
taking that off my shoulders. So we immediately started hiring for a full-time salesperson. And as of today we haven’t
filled that position yet, so if you love to sell and you love what we’re up to at Freedom Fast Lane and Capitalism.com, I want to hire you. So this had an impact
on me, just seeing that, oh the leader of the
company doesn’t necessarily have to be the one who
is always cashing checks. So, that’s why this was
probably my biggest takeaway from Freedom Fast Lane Live. And I also thought it was interesting that Cameron brought that up
as one of the pivotal things that you need to hire for when you are starting
to scale the business bigger than yourself. Tom Bilyeu had a similar answer when I asked him about the key hires that they made at Quest. And he said that their CMO. Which is basically a sales position. Because he went on to explain that it was a social media role and that person was out
drumming up attention and making a lot of sales
through social media. So, since that was an eCommerce company, the CMO, the social media person, was driving all of the sales. So in both cases, they said someone who takes sales
off of the attention or the task list of the entrepreneur would be a key, pivotal piece to the team once you started to scale. I had never done that before, so it was a big take away for
me at Freedom Fast Lane Live. We did an entire podcast on this. You can head over to freedomfastlane.com or subscribe on iTunes at
freedomfastlane.com/itunes. And you can hear the entire episode of me recapping the what we learned about hiring and team building
over the last 12 months. And that is ready for
you right now on iTunes or at freedomfastlane.com I believe that
entrepreneurship and capitalism is the best way to solve just about every problem in the world. I get plenty of pushback
against this point from people who disagree. I wish that those who disagreed could have a healthy and respectful debate about the conversation. I truly believe that we all agree that we want to solve
world problems, right? We want people to be healthy, we want people to be wealthy. We don’t want people to
be discriminated against. I wish we could just start
the conversation there. There’s problems in this
world that we need to solve, What’s the best way to solve them? I believe that in almost 100% of cases, it is through the profit mode that we can best solve those
challenges that face us. That’s why we need more entrepreneurship. That’s why we need less government. That’s why we need freer markets. So I asked John Mackey, the founder of Whole Foods and the author of Conscious
Capitalism what he said, what he thought was
the role of government, especially in today’s world. And here’s what he had to say. – Anything that you can
make a profit doing, belongs in the private sector. Cause you’re gonna have entrepreneurs who are gonna create innovative solutions, and who are gonna make progress. Things that business
can’t make money doing, they’re social problems. Let’s say, I’m on the board of the Humane
Society of the United States, for example. They can’t make money
doing what they’re doing. They’re helping dogs and seals, and cats and lviestock animals. There’s no, they can’t
make money doing that. So things that you can’t make a profit at belong in the private, I mean in the private sector but in the non-profit world. However, there are certain things that the non-profit world
can’t deal with either. There are global environmental issues. There are things, you need
rules in this society, you need laws, you need police, you need defense. The things that neither the private sector nor the capitalistic sector, nor the non-profit sector
are equipped to deal with. That’s government’s job, it’s a huge job. If they would just stick to that and do it well and let business do what it does well, and let the non-profit
sector do what it does well, we will be living in a virtual utopia. – So, I thought it was interesting that John broke it into
basically, three groups. If something can be solved profitably it should be done from government. If something can’t be done profitably it should be done through a non-profit. And if it’s too big for either of those, that it should be addressed by government. I mostly agree with this. One thing that we didn’t
have time to go into is that, that changes. New technology and new opportunities make it possible for the profit motive to
solve certain problems. Or, or a non-profit to take over what a government could
only previously do. Now it can be taken out of government and put into the non-profit sector. So, we didn’t talk about that, but if we assume that’s true, which I think we all agree technology makes things
easier and faster right? And it opens up more opportunities. Well if that is true, then we should be seeing less government, and progressively less non-profits, and then more into the for-profit sector, the private sector. But we tend to see the opposite, because most people don’t think that way. The tendencies tends to
be for more government, for people to say, “Why do we need the profit motive in this? “Why can’t we have a non-profit do this? “Why can’t we have the government do this “so it’s more fair and equitable.” Well, the reason for that is
because things are sustainable when their done via the profit motive. So, the best way that we can progressively make the world a better place if the government needs to
be involved in something, have them solve the
challenge the best they can. Which isn’t gonna be very good, until a non-profit can take that over. Until the profit motive is
there to solve that problem. That, in my opinion is how we
can progressively make changes that better our world. And sustainably do that
through the profit motive. Cause that is how we ultimately solve all of the world’s problems. (upbeat music) This is the part of the show where we look at one of
our student’s business’, look at their best opportunities and where they can make more money. So, we’re gonna hear from one of our tribe members right now. – Hi there. This is John Tar. New member to the tribe. Not very experienced on Amazon. But, very experienced in
digital marketing in general. Been a media buyer for a really long time. And in addition to that, email writing and author creation. I’ve been around the
digital marketing game but never on Amazon. One of the reasons that I
recently joined the tribe is I saw an ad on
Facebook and I knew Ryan. And it said, “One of my
students just sold their “company for, I think it
was 15 million dollars.” And I thought, you know, with my skill set that sounds like a pretty good idea. I would love to start a company and build something that I could sell so that I could leave a legacy for my son. And Ryan, my quick question is, and I appreciate you in advance answering. My quick question is, I have some experience
in the supplement space. But, it seems like a very, very competitive market on Amazon. How is a new person supposed to break through the noise on
Amazon and be competitive? I appreciate it. Bye-bye. – Ah, I have been waiting to
answer a question like this. Thanks John for your submission. Look, the story, the narrative around, the beta mind’s Amazon business. I hate that phrase. There’s no such thing
as an Amazon business. There’s only a business that
collects the order on Amazon. I’ve said this a thousand times. But, it’s a huge distinction. The reason I bring that up now is because the narrative most businesses
that take the order on Amazon is that the way to make money, is to rank for keywords. Show up in front of people
who are already shopping. Collect the order and that’s where the business starts. Look, I popularized that idea. My 12 Months to One Million plan is pretty much predicated on that idea. And it works, it’s totally viable. Most people get stuck there. John, you are in a very rare position, a very powerful position, that most Amazon marketers
don’t have access to. This is where they struggle. You know media buying and you know email marketing. If that is the case,
let’s double down on that. A, because you will not
be dependent on Amazon, and B, you will beat everyone
on Amazon by doing so. Here’s what I mean. Most people who are trying
to sale physical products are just trying to rank for keywords and close the order. That sales cycle is very short. Which is why a lot of
good casual businesses have been built on that model. You have the benefit of
having a longer sales cycle if you use email marketing. What I mean my that is
that you have the ability to drive hundreds of opt-ins per day. And then warm them up
and give them content through an email marketing sequence. And then hit them with the order button. Which just happens to be on Amazon.com You can drive so much traffic
and attention doing this because you basically get a two fur. The first for is that you
have the warm up sequence through the email. So, you can do it like a product launch, like a rolling launch. You’ll buy traffic from
Facebook or from Instagram to a squeeze page, to an
email follow-up series. And then have a rolling
launch for the product, whether it be a supplement or a widget or whatever it is. And then the second fur
is that, that customer is comfortable buying on Amazon.com So, your close percentage
will be much higher by sending them to Amazon than it would have to be
if you were sending them to a sales page, or
through an affiliate link or however you’re monetizing that person. There’s a bonus fur. The third fur, the three fur is that you now have the lead. And the lead can be monetized
through affiliate offers. Can be monetized through
information products. Can be monetized through all the things that you know how to do. So, you are not tied, you’re not handcuffed to the model that most people feel enslaved to. Which is that Amazon has, has control over their business. When most people build a business that is completely dependent on Amazon, they can’t sleep at night. Now, they’re making all this money but they’re all afraid it’s gonna go away. So, when I’m advising one of those clients I say the first move they need to make, is by collecting their customer data, getting those email addresses, so that they have a pool of buyers that they can go to no
matter what happens. And they’ve got a bigger base of customers that they can launch products to. You are going the opposite direction. You need to build up the
opt-ins and the eyeballs so you can launch products
on Amazon to them. So, we’ve already talked about
how that could be profitable and how that can give you the
ability to launch products. Now let’s talk about how it will help you beat everyone else who
is trying to do this. Because you already control the eyeballs, you basically have your own launch list. You have the ability to drum up demand whenever you want. Which means, when you
go to rank for keywords, when you go to ask for reviews, when you go to set the
price that you want to set. All of these thing are
gonna be in your favor. You can command higher prices, higher conversion rates and higher orders at once. Which are all things that
drive Amazon’s algorithm. So, by you doubling down
on where you’re good, driving traffic and writing email copy, you will actually have the side benefit of a ranking for keywords, having higher profit margins. And that will beat
everybody else on Amazon. So, you’re in a very unique position to go into any market and crush it. Whether it is supplements
or anything else. So, I don’t think you’re
at a disadvantage. I don’t think you are
too late to the game. I think you’re in a perfect position to absolutely kill it with your skill set and combining it with a
power house like Amazon.com. So, I’ll wrap this up by telling you some of my goals for 2017
and where my focuses are. First, I believe that at some level everything that we do comes back to community and connection. I said on the podcast where
I predicted trends for 2017, that I think intentional communities, or a new ways of connection are gonna be big in 2017. Mostly because we’re
absolutely starved for it. We all live behind computer screens and phone screens. And the idea of actually
genuinely connecting with someone is what we’re starved for that. But at the same time, that’s what drives all human behavior. Why do workout and spend time in gyms? Because at some level we think we’ll be more accepted
by the opposite sex. If we look good and we’re fit and healthy. That is baked into us. Why do we worry about money? Because at some level we
feel like we need to survive and that often comes because
we don’t feel connected. We feel safer, we feel more risk tolerant when we have deep
connections with friends. You can Google that one. That is just primal instincts. So we feel disconnected from people, we have more worry, more stress. Because it’s part of our brain
is saying we need to survive. We’re not plugged into the community. So, I think everything
that we do at some level comes back to our need to connect, our need for community. I think it’s just as baked into us as our need to survive. And yet we don’t know what to do there. Because we’ve lost the ability to connect. We didn’t evolve to be
in families of four. We didn’t evolve to be
living in high rises. We evolved to be in packs of 12-30 people. Very, very intimate relationships where we had each other’s backs. So, part of, one of my big focuses is, who’s my really close,
intimate group of friends? What’s my in-person tribe? Who are my life-long
friends that I nurture? Because that makes you feel safer, it makes you feel more risk tolerant. It makes you happier. My happiest moments were in college when my best friends lived
on either side of me. And I was building a business and had to eat cafeteria
food all the time. And was working really hard. But I was surrounded by my best friends. So, that is a focus of
mine going into 2017. Also this year I am very focused on building my audience for the long-term. That’s why we do Freedom Fast Lane TV. It’s why we have the podcast. My audience is, what opens me up to
networking opportunities. It opens me up to investing opportunities. I buy my student’s businesses sometimes. So, those are the spillover
effects of my audience and I’m committing the entire year to putting all my energy into building up the audience around capitalism.com. and Freedom Fast Lane. And I’m continually trying to stretch my risk tolerance. When I feel stuck, I
ask myself the question. What’s the biggest risk
that I can take right now that will, if it pays off, take us to the next level
closer to where we want to be? So, I’m continually trying
to get uncomfortable by taking calculated risks in hiring, in spreading our message. In launching products and the things that make me uncomfortable. But will take us closer
to who we want to be at Capitalism.com So, I’d encourage you to ask
yourself the same questions. Who are you connected to? What are you committed
to over the next year that will set up your
business and your life for success going forward? And what’s the biggest
boldest risk that you can take that you could tolerate right now that if it pans out, will set you up for who want to be and where you want to be a year from now. Thanks so much for watching
Freedom Fast Lane TV. Please, if you found value in this send it somebody who you know needs to see this message. Subscribe on iTunes and
subscribe on YouTube. Share your comments over on Facebook and we’ll see you throughout 2017.

21 thoughts on “Selling Supplements on Amazon, Goals, and Who to Hire | FFLTV Ep 8

  1. Average people were educated to believe they need not a profit motive…. oh, and who were they educated by, if not the state?!

  2. Can you do me a favor and talk about some of your recent failures, flops, or learning experiences (whatever you want to call it). As the founder of a new business, it is very discouraging to have more failures than successes.

  3. How much money do you need to start this type of business online? Can it be a new product? Also if I want to file multiple patents from drone technology to social media, would amazon help boost new physical products, and would I still have time to learn how to code?

  4. Behave yourself…The majority of all inventions and technological advances were pushed forward by government institutions and publicly funded universities.

    The private sector is just good at utilizing the advances discovered by the government funded institutions.

    If it was left to the private sector no medicine will be developed for illnesses which effect a small number of people – – since it wont be profitable.

    Like Apple – It uses dozens of different types of technologies in it which it did not invent. Even the touch screen was invented by a research group at a university— which was funded by…you guessed it THE PUBLIC!!!

  5. I love the idea of committing to a full year of effort before judging something. The 90 day sprints help keep you on track, and the year timeframe forces you to be patient. 👍

  6. In response to your final question… I am putting everything on the line to create a successful, million dollar business, by the end of this year. I am currently ahead of schedule and have it within the plan to join your BBB program by May 1st, at the latest. Looking forward to continuing to learn from you. Thank you for sharing so much excellent content.

  7. i like what you said about selling ourselves short. alot can be done in one year and if we reflect back on our lives we can all find at least one year where massive change took place. thanks ryan.

  8. I don't currently have a product idea. if I joined boot camp with the necessary capital i.e. £3000 will I be helped from scratch or do I have to start my own business first? thanks in advance.

  9. I watched one of your older videos, and you described stage one of releasing a product on Amazon as using a large giveaway to generate reviews. I liked that method, but I know Amazon has banned that practice now. What are some other methods to get the quick 15-20 reviews?

  10. so how do you know if its selling on a regu;lar and not just selling once every couple months,,other then the ranking and sales price that I see when I scan with my amazon seller scanning app I use,,what app or what method does one use to really truly knowwhat an item is doing on the market..i don't want to spend 300 dollars on clearance toys if they haven't sold other then the one sale that maybe brought the rank down to a reasonable ranking that wouold make us even consider buying..so if I scan an item it says 5,000 rank and theres a 20 dollar profit,ok that all sound perfect,,buuuut,,that rank doesn't tell us how often it sells,,was the last sale 5 months prior to the current sale,,,hope you understand and im sure you do,please if you find the time anyone that knows please reply,and is this able to be done on a phone at the store,,this research im speaking of,,im on a stand still,i refuse to buy anything else till I know what an item is truly doing,,and im trying to stay away from thrift shop stuff especially books vhs cassetess ect ect,,I really wwanna do newer items,,and I hear some things on fba amazon not lkiking that we are listing things as new???,,,idkk,,amazon is insane

  11. What do you think about about Amazon charging new sellers $3000 non refundable free just to sell in the dietary supplement sub category?

  12. Just wonderful, I have been researching "dietary supplement company list" for a while now, and I think this has helped. Have you heard people talk about – Elenajan Supplement Smasher – (do a search on google ) ? Ive heard some great things about it and my mate got amazing results with it.

  13. Dude.. You were supposed to explain laws and stuff for importing supplimeuments and stuff. Thanks for wasting the time

  14. I do not care about your suit, your number of subscribers or your keynote speech. I only care that the title of your video reflects its content and yours doesn't. Stick to the topic of your video's title.

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