General Business Updates
Ryan’s team, in the last year, has grown from 2 to 8 people. He has hired aggressively and attempted to stay ahead of things. The Freedom Fast Lane Live event was a huge success. In Q1, Ryan did The Tribe, which is why there was a huge spike in revenue.
An acting COO was brought in whose job was to clean up a lot of systems. Ryan and his team are idea and quick-starter people, so he decided to source someone not in the industry, whose passion was to build systems, and is involved on a short-term sprint. At the end of the term, the hire will be a project manager or COO who is in the industry and marketing community, who is a vision builder, and build within the context of the team that is in place. As a result of having the systems expert in place, everyone has been showing up better and feels free to operate in his or her genius and unique ability.
Freedom Fast Lane is an incubator where additional businesses and projects will come from and more team members will be added.
Ryan has been feeling as though he is spending a lot of time on things that don’t actually grow the business. When you are a new entrepreneur, you have to do everything, and anything you do is progress. There comes a point where unless you make a change, you will stay stuck. This has been a process of unlearning having control and granting permission to operate on the things that truly drive the company.
Ryan has equity in a fulfillment company that fulfills private label products, does inventory management, and holds stock for Ecommerce business. This is not factored into the income report, nor is the real estate holdings and consulting payments.
Men’s Fitness Company
Did somewhere between $700-800K in February 2016. A year ago, it was doing around $300K, so it has more than doubled and almost tripled the revenue, which should reach $1M in the next few months. The growth has been an increase in the amount of the market that is controlled and new products have been released. There are exciting retail deals on the table, and the products are already in smaller retailers. A year ago, the company was in a position of building up its own funnel and distribution channel, but this wasn’t dialed in to. The right way to do this and win at ecommerce is by building audiences and getting them to rally behind you, and then send the followers to the ecommerce store. The focus is on the audience rather than a hyped sales process.
This is at the $1M a year mark and is doing between $80K-$100K month in sales. A year ago, it was around $40K. This is a cash flow business, and will only ever do around $5M a year. It took a while to crack the code on this business, and took an extra amount of aggressiveness to break into the market as supplements are really competitive. Putting in the work to be really aggressive over the last year is what has caused the growth. It was all about doing whatever it took to get reviews and sales to push the company onto ranking for strong keywords and having the conversions in place.
Freedom Fast Lane
This business is all about working with and coaching entrepreneurs. The revenue come from selling The Tribe, which is the training program for entrepreneurs that teaches people how to develop products, invent new products, sell them on Amazon, get funding, how to create the brand story, and build audiences. In the next 6-12 months, programs about investing and building audiences in social media will be launched. A short internal launch of The Tribe did well and $450K in sales. The goal was to do between $400K-$500K, as this will pay for the team for almost a year. This facilitates freedom from having to sell something in order to build out a big audience and inspirational content that encourages people to be entrepreneurs and take responsibility for their lives. Ryan believes that we don’t need to demonize those in the 1% but rather have more people in the 1% in order to create the greatest change.
Side Note: Is There a Fixed Pie?
There is not a fixed amount. There is abundance. If you create something and people want it and trade, then both parties are better off. The problem comes in if there is fraud, which is the role of government to police and enforce the contracts that were agreed upon if there is cronyism.
Another way Freedom Fast Lane monetizes is through workshops that help Ecommerce entrepreneurs increase customer value, and get independent of sales channels and be in a position to sell their company for a lot more money. In February 2016, this did between $400K-500K revenue due to the launch of The Tribe.
It’s hard to duplicate a launch. The same amount of money is expected next month because The Tribe was closed at the end of the launch so systems could be cleaned up and ensure that everyone who signed up is served. This makes it difficult to have a predictive business. Just because one month had $400K in business does not mean this is ongoing. Ryan doesn’t like the launch and burn model, as it is exhausting and requires constant opening and closing. The next step is to automate the processes for the products that sell. Inspiration is being taken from Mike Dillard, who has a cash flow business that funds his disrupter.
Additions to Investment Portfolio
Ryan’s single-family real estate investment portfolio is still less than $1M. He paid for the houses in cash, and his plan is to look for apartment buildings so he can pull the cash out of the single-family homes and buy multi-families. The problem is the deal flow of apartments.
The overall plan is to continue automation of all the businesses so that they are growing without direct involvement. The aim is to build out the funnels and sequences to take regular sales that don’t necessarily take Ryan’s personal time. Getting into retail stores and building that into a major channel. The other focus is to be aggressive with the growth of the audiences.
Ryan put together a sizzle reel and pitch for a docuseries called Losing My Religion about his quest to find truth. There were deals in the works, but all fell through. This is now on hold.
This is a business that has exponential potential of $100M+; it is a tech company starting as an app. It is being outlined and has been worked on for a year since Zen Active was sold. This will either be a big failure or huge success.