Speaker 1This is the Road to 1 Million. I'm Ryan Daniel Moran. Welcome to the fifth and final installment of this mini-series on the Road to 1 Million. Today, we're going to talk about how this journey ends, sort of. We're going to talk about how the thing that you build has value that can be sold to someone else and make you more wealthy than you ever dreamed when you started this Road to 1 Million. At the beginning of this series, I told you that the way to stay on the Road to 1 Million was to build a profitable business and to invest the profits long-term, and that you don't need that much money in order to compound for the long-term to have a million-dollar net worth. But there's actually a third part of this strategy. But if I told you the third part of the strategy, you wouldn't believe me. Because just like you were surprised when you heard that you only need $500 a month or so to invest long-term to become a millionaire, you probably also wouldn't believe me if I told you that the little business that you built following the processes that I've taught you through this series could be sold for $1 million or $5 million or $10 million, sometimes in two years or less. So there's actually three ways to have a million-dollar net worth as a result of going through this Road to 1 Million process. The first is to build a business that makes a million dollars a year, build a profitable business that makes a million dollars, or makes half a million dollars for two years, or a quarter million dollars for four years. If you keep that money, you're a millionaire. The second way to build long-term wealth on this Road to 1 Million is to invest those profits over the long-term. And if you invest somewhat aggressively or just consistently, actually, that compounds into a huge amount over a long period of time. If you were to invest $5,000 a month into long-term index funds, and it went up at the same rate that it's gone up on average for the last 50 years in good markets, bad markets, recessions, and bull markets, that $5,000 a month would become $10 million over 30 years. But the third way is to build something that you can sell. And if your business is worth a million dollars, then you can cut time in half you can sell a business for four times its profits or six times its profits. I have one case study in which somebody sold it for, I think it was seven or eight times their profits. So if they were making a million dollars a year, they got eight from the sale. And this is a little bit more advanced and ahead of where you need to be right now, but you actually don't have to pay taxes on the amount of money that you sell for. If it's structured properly, you'll at least pay less taxes when you sell a business than if you were to sell a business. If you were to just collect it as income, but that's a story for another day. Now, up until this point, we've talked about starting a profitable business. We've talked about investing for the long-term. Today, I want to future cast a little bit of what it looks like to build a business that is value enough to be sold. When I first created my road to 1 million, my interest was building a million dollar business for two reasons. I knew that if I had a million dollar business, that it would be enough income for me to be a full-time entrepreneur and for me to live life how I chose. But the second reason was because I knew that if I could get four products to 25 sales a day at a $30 price point, I'd have a $1 million revenue business. And for all intents and purposes, that's a business that can be sold for usually about a million dollars. One times revenue is not crazy to sell a business for. Any decent business could sell for about one times revenue. So I could have a million dollar revenue business. I could collect a million dollars, put it in my bank account, invest it at, I don't know, 8% and have $80,000 passive income, which was more money than either of my parents ever made in my entire life. If I could make that passively as a result of building a tiny little business that I really enjoyed, that'd be a pretty sweet life. And then I could do it again if I wanted to. That was my goal. I wanted to. That sounded a little Barack Obama there. That was my goal. Let me be clear. Selling a million dollar business is a way to pay more taxes, except it's not. It's pretty cool to think about the fact that you can have a business that's really small, four products, 25 sales a day, and you could sell that for a million dollars. And you could do that in about two years. I have a student, his name is Chad McGilsey. He's one of our coaches inside the 1%. Chad didn't have dreams of becoming Jeff Bezos. He just wanted to have a nice lifestyle. And so he built this pet supply business. He's built it to a little over a million dollars a year in top line revenue by doing exactly what we talked about in episode four of this class. He built a Facebook group and an email list. He launched products to them and he got them to sell consistently until he had a business doing a little over a million dollars. He sold that for 2 million bucks and he invested it. And at 9% or 10% interest, which I think he's doing, I can't speak. I haven't seen his tax returns, so I can't speak directly, but that's a few hundred grand a year that he has in passive income. And he can do whatever the F he wants. He can do consulting for other companies. He can do coaching calls inside of capitalism.com. He can appear on podcasts. He can come to our events, all of which he does. He gets to do whatever he wants. His financial future is set. He has his universal basic income for the rest of his life. So even if you just give this a go for a year or two, if you look ahead 18 months, 36 months, it's not just about having the million dollar business or the million dollar income, although that's great. It means that you have an asset that you can sell. Now, I didn't know any of this when I started. One of the reasons why I'm so vocal about this is because I wish someone had told me how valuable what I was doing was, but I didn't know any of this. I'm a kid from Cleveland. I'm the son of a full-time teacher and a stay-at-home mom. And when they divorced, there was no money. So I had to learn all this stuff. When I showed up at a meeting with a private equity group for them to buy my company, I felt completely out of place. Now I can walk into the private equity group and say, you guys have no idea what you're doing that bought my company, ran it into the ground, and I bought it back for pennies on the dollar. But I hope a different story for you. And that's why I teach a lot of this stuff. Because I thought that there was money floating around in the big boy business world. And if I did things right, then I could earn some of their money and I could, you know, fake my way into the big boy game. But that's not how it worked at all. As it turns out, the stuff that we do in these processes that I've taught you in these classes is actually really fricking valuable. It turns out that very few people choose a good customer to serve. It turns out that very few people build audiences. Very few people are good to their customers in a way that makes them want to come back and be delighted over and over again. This is rare. It also turns out that as a small entrepreneur who's never had a million business before, you can innovate and change faster than the big boys can. This is why companies get sold. Because there are big companies out there that want to attract different markets and different buyer groups. And they can't because they've got too much attention and infrastructure way over on this side of the table. And they can't reserve the brainpower or the attention to be able to focus on the next group of customers that's only going to make $10 million a year. They're building billion dollar businesses. They don't have the time or the capacity to focus on a new group of customers that may only make them an extra $10 million a year. And that's where you come in. If you build a small business, a very small business that targets a small group of people and you give them products that help them on their journey and you serve them along the way and you build and nurture an audience of people that matches with the values that you stand for, you can have a multi-million dollar business. You can have a multi-million dollar exit. And it's not just because your company is profitable. It's because you have an audience. It's because you have standing in the marketplace. It's because you have a great product. Everything that you do in your business can be seen as an asset. When you build an audience, most small entrepreneurs will say, I don't want to spend $10,000 or $5,000 to risk on running ads to build an audience. But a mature entrepreneur says, I don't want to spend $5,000 or $10,000 to build up leads for my product launch. I'm going to make that back after a product launch or two. And then that audience is going to support every product launch I do. And that's going to become the foundation of an audience that I'm going to nurture for a very long time. And as a result, that's part of the asset that I will get back when I sell this company for millions of dollars. So if you do any of this half right, but you do it for about 18 months to two years, you can have a business that you sell for at least a million bucks. which is just nice. You can put that away to long-term investments, do whatever the heck you want, live life on your own terms, start other businesses if you want. And the important thing to note here is that you don't need to take big giant steps forward or giant risks in order to make that happen. You just need to be consistent at getting those four products at 25 sales a day at a $30 price point, or two products at 50 sales a day, or however you want to dice up the numbers. The important thing to know is that when you do this consistently, you're building an asset that somebody else is willing to pay for. And so you get a threefer on this road to 1 million. You get to build a profitable business that has unlimited earning potential. You also get to invest more money than most people do because you're in control of your finances and you get to invest the profits for a very long time. And you don't need to touch it. You get to let it sit there and compound and grow for a very long time. And you're building an asset that you can sell. At any time, once you're profitable, and you've been profitable for a consistent amount of time, you can sell that asset if you want out or if you want your payday. Now you might be hearing this and think that it sounds pretty good. You might even think that sounds too good. If all of this is so straightforward, why doesn't everybody do it? And also, why do people fail? Now I want to talk about that for a few minutes. Because I have mentored and worked with hundreds of entrepreneurs who have built multi-million dollar businesses. I've seen more success stories than I ever could have imagined. Again, this stuff is pretty straightforward. If you build an audience and you're good to them and you have a clear person that you want to serve and you have good products, you'll probably do pretty well. And this is true whether you're selling physical products or digital products or coaching or whatever it is. I specialize in physical products because that's my bias. That's where I've made a lot of my money. But why do people fail? Why do people quit? There's a few predictable patterns that I have seen that give evidence for why people get off the road to one million. Staying on the road to one million is straightforward. Build a profitable business, invest the profits for a very long time. And as a result, you'll have an asset that you can sell for a whack ton of money. Where do people fall off the wagon? Number one, they try to do it alone. People who get into this game are throwing everything on their back. They're learning entrepreneurship for the first time. They're going out into a new field that a lot of their peers will poo-poo. Their family may have doubts about whether or not it can be successful. And they try to shoulder the entire burden alone. And when you try to do it alone, you give room for all of your doubtful thoughts to grab hold of you. I happen to believe that the world tends to be a projection of your thoughts. And when we are thinking negative, like we're doubting our success, we're doubting our value, we're doubting if we're doing the right thing, we tend to make that real. We tend to act in alignment with those thoughts. And when you are alone, when you are not around a group of people that is on the same journey, you give room for those thoughts to take foothold. But if you've ever come to one of our events or you joined a mastermind group or even if you've been in a Facebook group of people who are on this journey, then you are more likely to see and align with the thoughts, habits, feelings, and behaviors of people who are building what you want to build. So most people fall off the road to 1 million because they're trying to do it alone. And their doubts creep in and they grab them by the throat and they say, you're a miserable failure and you'll always be a miserable failure. And if you fail at this one, you're definitely a miserable failure. And they don't want to feel that shame and embarrassment of having another failure. And so they stop and they come up with some excuse about it being inflation or the economy or competition or something else when it was really just their own negative thoughts choking them out. The second reason why people fail or quit is because they think too big. They think they're overcompensate for them not doing the work. The work is the little things that compound over time. People who don't invest don't invest because they're thinking too big. They think $541 a month is not enough. I'm going to swing for the fences. I want to do something riskier that will get me somewhere faster. And so they never compound the $541 a month that becomes millions of dollars over the course of their lifetime. Or they say, I don't want to focus on a hundred people on an email list or a hundred people in a Facebook group. Instead, I'm going to sponsor that influencer, or I'm going to take that course, or I'm going to learn how to build funnels. All of which, by the way, are fine things, good things even. But they ignore the small steps, the small things that are right in front of them, that if they were to take action on, would build a little bit of momentum. And that momentum would compound over time. Since they're thinking too big, they avoid what is small. And so they skip steps. And a year goes by, two years go by, and there's no progress to show for it. The people that I have seen be deliriously successful in these processes are the people who have strong ambitions, but they are willing to be in the mud for a certain period of time. They're willing to go through the grind for at least 90 days. The first 90 days of your business are the hardest part of your business. That's why most people never get through them. 90 days of figuring out what you're going to sell, building an audience, doing a launch. It can be really exciting, but most people never go through the hard stuff of overcoming their doubts and their risks and the embarrassment of what could happen. So they never spend 90 days building the foundation of their business, they put off the 90 days for 10 years. When if they had just gone through it, rolled up their sleeves, gotten their hands dirty for 90 days, they would at least have something. And then they would build on top of that. And the results would compound over about 12 to 18 months. Remember, if you do the hard, boring work for about a year, you'll pass everybody else who's trying to do the short-term things because they're trying to get there faster. The third reason why some people fail is because they don't enjoy their business. They start their business with the intent of making money rather than building something that they're proud of. Now, I run capitalism.com. You can guess how I feel about money. I think it's awesome. I want you to make as much money as you possibly can and invest it so that it compounds into many millions of dollars. In fact, I think you make the world a more abundant place when you do that. You're literally growing capital. You're literally growing the amount of money that exists in the world. You create money. You don't earn it. You are creating it. And so you're making the world a better place by getting deliriously rich. But most people pursue that instead of creating something that they're proud of that creates value for somebody else. When you focus on the money creation, you tend to be in extraction mode. You think about what you can sell to your audience. You think about what you can sell to the marketplace rather than what you can create for the marketplace. Now, either one of these can be taken to its extreme. There are starving artists for a reason. They're so obsessed with what they want to create that they never think about what anybody else will buy. But on the other side of this, there are people who just think about what they can sell and so they never build a long-term business. The perfect balance is to build a raving group of people that want what you have to sell. And you can do that. It's actually the simplest of the three. Being a starving artist is hard. Being a huckster salesman is hard. But building a long-term audience that matches with your values and wants to buy from you over and over again probably takes the most work, but is also the simplest. It's a skill set that you can grow into. It is the thing that you can cultivate for a very long time and creates compounded returns for a very long time. Entrepreneurs who don't enjoy their business also tend to overvalue data, or the opinions of other people, rather than what they want to create and what their customers desire. When we overvalue data, like there's a lot of money selling this product, or if we overvalue the opinions of other people, like this business influencer said that this is a good idea, and you don't follow what you actually want to create and what would be good to your customers, then you tend to stop serving, you tend to stop creating, and you start just doing things for the place of insecurity. When you are overvaluing data or other people's opinions, you are building a business from a place of insecurity rather than from a place of service. And the longer that you can stay in a mindset of serving the customer for a very long time, the more that things are going to compound. The more that things are going to create outsized returns for you because you're in the game for a very long period of time. So the trick here, if we can call it that, is to create the rules of the game, in a way that make you want to play for a really long time. If you can create the business that you genuinely like by serving customers that you genuinely like, by selling products that you genuinely are proud of, you are likely to stay in the game for a much longer period of time. Whereas most entrepreneurs who are thinking about the money are thinking about selling this, and then they're thinking about selling this, and then they're distracted by this shiny object. And so they're constantly being blown this way and that way, rather than planting their flag and saying, this is what I'm here to do and who I'm going to serve. It's harder to tune in to who you want to serve and how you want to serve them. It takes more self-awareness to be able to decide that. But once you decide it and you roll with it, you can build something. Whereas most people are constantly distracted by what other people are doing, and they're projecting their insecurity into the world, looking for affirmation from number of followers, number of customers, or how much money that they have. And so they're copying the people who have the most money or the most followers, and they ignore the fact that the people who made the most money or have the most followers did it by serving a group of people. They are pursuing the vanity metrics rather than building something of value. So we have to flip the script and focus on how we create something that you're proud of for a group of people that you genuinely want to serve. And if you answer those questions, boom, you are so off to the races. Because then it's just very simple strategies that we work into the recipe and allow you to move forward very quickly. And you'll look back on this 12 to 18 months from now and say, I cannot believe how far I've come. So let's talk about a few things that you can do following this series. I've mentioned to you throughout this series that I was inspired to do this five-part training because I completed a product called The Road to 1 Million. It's a free product. It's a free course. You can get it at capitalism.com slash million. Just enter in your best email address, and I'll send it to you daily for 30 days. It's going to retrain your mindset to look for abundance and wealth, help you come up with ideas for your first business, and give you the training that you need to know that you're going to be able to launch that thing successfully and come out of the gate with consistent sales so you can start to build your million-dollar business and be on the road to a million dollars. That's a good place to continue this conversation over at capitalism.com slash million. For those of you who want to jump in and start building your business, we have a 90-day accelerator that we call The Grind. The Grind is designed to help you get your first 100 sales. What this will do for you is help you build the audience of raving fans that want to buy from you over and over again. It will help you clarify which products are going to be the perfect products for you in your business. It's going to help you come out of the gate with a profitable, successful launch that gets you those first 100 sales. Now, once again, those first 90, 90 days are the hardest 90 days of your business. But once you do them, you have the foundation of something that you can build upon. Don't go the next two to five years waiting to start the first 90 days. So for those of you who want to jump in, go over to capitalism.com slash grind, and you can see the details of that program. It's a 90-day program that is guaranteed to help you get your first sale. Now, at the time of this recording, that's a very ugly sales page. We threw that together so that we could get the first 90 days. So if you want to jump in, go over to capitalism.com slash grind. We could take the orders when we launch it to our audience. And hey, it's true to my brand. If you have trust with your audience and you have exposure to your audience, you don't need to have the greatest sales copy in the world. And this page does not have the greatest sales copy or the best design. It's just there to allow you to take the next step and start your 90 days. And if you, for whatever reason, do what we tell you to do and you're not making sales at the end of 90 days, we'll just give you your money back. Because if we can't help you get this thing off the ground, you probably shouldn't listen to us. So if you're not making sales at the end of 90 days, we'll just give you your money back. Because if you're not making sales at the end of 90 days, we'll just give you your money back. I would like to see this be real. And that's the reason why I'm building it. Not I'm doing this so that I can get the money, not doing this so that I can be free, but I want to see this exist. And when you can operate from that place, man, can you create some ridiculously cool stuff. I hope you enjoyed this five-part series on the road to 1 million. Once again, if nothing else, a good place for you to go next is capitalism.com slash million. And that is a place for you to go through a 30-day free course where I will turn up the dial in your brain on your mindset, your expectations, and the strategies you need to build a million-dollar business and build a million-dollar net worth. If you enjoyed this series, I would humbly ask that you do me a favor and share it with somebody that you know that would like to get on the road to 1 million. If you found value in this, if you found it helpful, it would mean the world to me if you shared it with somebody else. I hope you enjoyed this series as much as I enjoyed making it for you. And I look forward to serving you on the YouTube channel and the podcast in the future. Thank you so much for being here. I'm Ryan Danny Moran with capitalism.com, and I'll see you on the next episode. See ya. If you've read my book, listened to the podcast, or watch any of my YouTube videos, and you're asking yourself, where the heck do I start? Where do I begin my journey to my million-dollar business? We got you today. My team and I just completed a new kickstart class called Five Days, Seven Figures. This is the best on-ramp class for any of you who are ready to begin your seven-figure journey. In this five-day class, you're going to choose your ideal market, what products to launch, come up with a plan to get each one of them to 25 sales a day, and you'll know at the end of the class exactly what your business is going to be, how you're going to get it to a million, and exactly what your next steps are to get it off the ground. It's a five-day class. It costs $100, and when you're done, a member of my team will get on the phone with you and review your homework directly with you. When you're ready to start, go take the challenge at capitalism.com slash five. That's the number five. Five days, seven figures, capitalism.com slash five. Five days, seven figures, capitalism.com slash five.
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