An Interview with Ryan Daniel Moran
Ryan Daniel Moran, the founder of Capitalism.com, recently came onto the Amazing Exits Podcast and provided invaluable advice for anyone hoping to build a true brand and scale to seven or eight figures. This interview was filled with gems, and this article focuses on how Ryan advises entrepreneurs to increase the overall valuation of their business by building a real brand.
What is a “real brand?”
Many Amazon sellers buy a product and sell it on Amazon. They are competitive because of price, quality, and Amazon savvy. Their customers buy the product because they needed it, and it was available at a low price, was on the first page, or had the best reviews.
Ryan points out that this does not make the product store a “real brand.” Instead, a brand must have these three aspects to be a “real brand:”
- The brand has an audience that chooses them over others, not just because your product is listed at the cheapest price on Amazon, but because they like your products specifically.
- Brand products are created for a particular type of person, and that audience connects with the products and talks about/recommends them.
- The brand sales funnel comes through multiple channels – you don’t only find it on Amazon but through Instagram influencers, on a Facebook group, and elsewhere.
It’s more about having an audience you genuinely connect with, rather than having a product that you deliver from one place to another.
How to build a real brand and then scale
Because our interview was about Ryan’s book, 12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur, we took the conversation beyond defining a real brand, and asked Ryan how he would advise anyone to create a brand and then scale.
Here are the key points he made:
1. Start with what you stand for and who you serve. Forming a brand is based not on what you sell, but on who you sell to. Once you know who that audience is and where they congregate, you can discover their needs and create the brand from there.
2. Here is the fastest way to build a brand from $0 to $1,000,000:
- Partner with someone who has influence in your chosen audience
- Launch four products and sell 25 of each a day.
- Be really good at getting reviews.
- Sell your products on Amazon.
3. Ryan advises brand owners who are trying to go from $1 million to $8 million to take time to choose which influencers will best fit the brand. Create a group of them and coordinate their influencer activities to promote the brand. When you are already in the $1 million club, you can be selective about whom you sponsor, why you sponsor them, and how they interact with other influencers.
At this level, you also need to go beyond Amazon traffic. Run cold ads to a squeeze page and have follow-up sequences introducing products and sending customers to purchase those products on Amazon. Use everything in your marketing toolkit to get those sales.
4. Ask yourself, “How do we create such a first-class experience that our customers find us, opt-in, and follow us?”
Then think about how you acquire customers on the front end and go through your nurture sequence. Do everything you can to ensure that your customers enjoy interacting with your brand and remain loyal.
At the end of the interview, Ryan shared that building a brand and creating a loyal customer base is a great way to build your business toward an amazing exit. When your customer base loves you, and you make that seven-figure income that so many brand owners strive for, you can command your own price when selling the business to an aggregator. You will likely get paid whatever the aggregator says your brand is worth if you don’t.
Discover more strategies for Ryan Daniel Moran by reading his book, 12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur and listening to our podcast interview here.
Do you want to know how close you are to an Amazing Exit? Get in touch with Paul and Kellianne. Schedule your call here.