- Oh, hey everybody!
I'm Ryan Daniel Moran and today we're going to
talk about what the heck you should invest in.
We'll talk about balancing what you're passionate about
versus what you need to get done,
how I manage my time, and we'll
look at a new type of physical products brand.
Show some clips of me!
(upbeat pop music)
A few weeks ago, I brought in some
of the best investors that I know
and put them on stage all at one time.
We called it The Investment Panel
and we had individuals who ran funds
versus people who invested in real estate
versus people who had multimillion dollar stock portfolios
versus someone who had just sold their business
and was looking to invest in a lot of different things
and they talked about how they mitigated their tax bill
and how they diversified for passive income.
We put all of them on stage at one time
and my only regret from Freedom Fast Lane Live
is that we did not allocate more time to that panel.
It was the most fun I probably had during the conference
and will definitely be going more
in that direction for future conferences.
But there was one specific topic that came up a lot
and it was about if things hit the fan,
should you be invested in gold,
silver, Bitcoin, and other hedges.
Let's look at a clip from that panel.
- I'm still doing Bitcoin.
Precious metals is definitely something
that's still close to my heart.
And then online companies, so something
that's existing, running, probably something similar
to what they would buy (laughs).
I'm like what I call "asset agnostic"
I care that it produces cash flow so--
- But gold doesn't do that.
- Don't get me started.
(panel and audience laughing)
- [Ryan] Actually go ahead and get started.
- And it has lousy tax treatment.
Gold is overrated.
- Again, there's the holistic portfolio
and then there's the single asset, you are correct.
However, in an inflationary economy,
would you agree we're at least in that?
- [Ryan] Hold on, hold on, referee moment
here for a second because what you
are going to make an argument for
is it as a hedge, right? - Correct, well Bitcoin --
- [Ryan] And you say, what the heck
is the point if there's no cash flow?
Is that right?
- Yeah, I mean ultimately I buy investments
because I want them to pay me money over time
and anything that doesn't pay me money over time,
I just don't care because I want that income.
- Sure, but define money.
- Define money is somebody handing me a dollar bill.
- Yeah but, that dollar has value because?
- Because we believe it does.
- Correct.
- Yes, but I don't think that the world
is going to hell in a handbasket.
- I don't either!
- But then why are you doing this?
- Because I want to be ready in case it does.
- It's not going to.
- I don't lose! - It's only a percentage.
- No. - I don't lose though.
- But even if the world does go to hell,
you're not going to want gold rocks in your house
you're gonna want blue jeans, water,
guns, and food. - I said precious metal.
That's true but also silver.
Again it has a purpose in the portfolio
because you have to have this offsetting thing.
I'm taking on millions of dollars in debt
every time I buy a building, right.
The world goes to less than someplace
none of us wanted to see but I can use that
as a way to get rid of that debt.
- Now of course this is fun for us to speculate about.
Is the economy going to go up or down?
Is gold gonna go up or down?
What's gonna happen with Bitcoin?
I've shared my opinion on Bitcoin and
it's the same kind of opinion as gold and silver.
It might be an okay hedge
but if you're treating that as an investment
you've got the wrong strategy from the get-go.
Look, the primary question that we need
to be answering is, how are you producing?
That was the question that will lead
into what should we be investing in
because the primary thing that you should be investing in
is things that you can control.
You can't influence the price of Bitcoin,
the price of gold, the price of real estate.
You can change the paint and carpets
and if that's the business that you're in, go for it,
but if you're a business owner, buy other businesses.
If you are an email marketer, buy other email lists.
You know you can affect that.
That is where your greatest ROI is going to come from.
You are the greatest ROI that any portfolio
will spit off rather than
hitching your wagon to gold,
Bitcoin, real estate, or any other vehicle.
The primary thing that you should be investing in
is you and the things that you can control and impact.
Of course, it's fun and it's sexy to talk
about the things that might go up in value.
Look, I had a penny stock NDEV go through the roof
in the last couple weeks and it was awesome!
I thought I was so cool 'cause I made
all this money from one investment.
It was a company that I had held for several years
because I think that industry is gonna go way up,
but I'm not changing my strategy now
to go buy a whole bunch of penny stocks.
The reason is 'cause I can't impact that.
I can't affect that.
Make your money in business.
Invest primarily in things that you can impact
and diversify through the rest of your portfolio.
So if you wanna have a hedge account
where you're in gold, silver, Bitcoin,
go for it but by no means should your hedges
be where your primary focus is as an investor.
Your primary focus as an investor should be in cash flow
and your primary focus as a cash flow investor
should be on things that you can control and impact.
That's when you're bulletproof.
That's when you will continue to be able
to maintain a lifestyle no matter what happens
to the economy and then you can diversify into other assets
but let's not call that a primary investing strategy.
That's speculating.
You're speculating on what's gonna happen in the economy.
You're speculating on how someone
is gonna manage a business.
You're speculating on what is going to happen
to the price of whatever asset it is that you're buying
but it's not speculating to double down on yourself
and to double down on your skillset
and to double down on the businesses you advise,
the businesses that you're invested in,
the businesses that you partner with as
an affiliate or in a partnership.
That's where your focus should be
as an entrepreneur and then you can diversify
through your speculative investments.
(upbeat techno music)
Of course I believe that the fastest way
to financial freedom is to build a business
and invest the profits so let's address
some questions that'll help you do just that.
- [Question Reader] Lavenda Tupou asks,
"How do you disconnect what you are passionate about
"from what you have to get done to escape the rat race?"
- Now this is an interesting question
and there are multiple schools of thought on this.
There are people who say, follow your bliss,
follow your passion and the money will follow.
There are some people who say
follow the money and the passion will come.
Both work.
Both are perfectly viable.
What works for you?
What drives you?
I think the important kind of x factor here is,
you've gotta be passionate about something, right?
You could be passionate about quitting your crappy job
but something has to be driving you.
Let's talk about it like that.
It's not what are you passionate about 'cause then that
brings in the question about how do I find
what I'm meant to do in this world?
How do I find what I'm passionate about?
And none of that exists, right.
It's just whatever you decide, whatever you create.
That's what your life becomes.
There is no outside of yourself
passion that you have to find.
There is no you that you have to discover.
There is no life path that has been preset for you.
It's just what you decide and what you create along the way.
What's driving you is a much better question
and that can be your reason why.
That can be your passion.
My suggestion for somebody who is still
in the rat race, follow the money.
Do what you need to do to make the money,
let the passion be running away from
what it is that you're trying to avoid
and once you have cut that off,
you've cut the source of your stress and frustration.
Then you could say, okay great.
What am I gonna do with my life and my business now.
The important question, I think,
is, what do you do once you have
freed yourself from the thing that you resent?
If you hate your job and you've gotta pay bills
and you're trying to start a business
to try and get away from the job,
what's your life gonna look like when that's gone?
Most people never answer that question.
So what happens is they cut off the job
and then they take the resentment,
they bring into their business
and then they just resent the business.
So, what is your life gonna look like once that's gone?
Is it gonna be in this business?
Is it gonna be in a different business
and you'll wind that one down?
Does it mean that you just automate that one
so you can live a nice, cushy lifestyle?
There's no right or wrong here
but answering the question of what fills that gap,
what fills that space will allow you
to make a healthy pivot from being able to justify
I'm gonna do this thing that I might not even
enjoy right now but I'm gonna put all of my attention
into it so that I can get rid of the crappy job.
That will allow you to do that.
Now some people will argue that this
is just easier if you do what you love
or what you're passionate about
and if that's what drives you, if you've got a topic
that you're interested in and you wanna build a blog
and a side hustle about that specifically,
you have my blessing to do so.
That has driven a lot of my business decisions
but only once I was successful.
I had to have the stress monkey off my back
before I felt free to be able to pursue
what it was that I was passionate about.
That's me.
Other people don't have that but
if you've got something that's holding you back,
I say it's a logical and easy thing for you to do
to follow the money so that you can quit the thing you hate
and then we can answer the question,
what am I passionate about or what am I doing with my life?
Derek Sivers had a great blog post on this
and he basically argued that the
happiest people that he knows have
a job that they're committed to,
meaning it's a career or a skillset
that isn't their passion.
It's not their gift to the world
but it's something that they're at least invested in enough
to where they can constantly be growing in that skillset
and then they have an art form or
the thing that they're passionate about
that they're not reliant on for income
and what that allows them to do is to balance both worlds.
Is to be committed to their work
and committed to their art and they've got
they do for money and the thing that they do
for fun or as a gift to the world.
I think the same is true in business.
I have cash flow businesses.
I have business that pay for my life
and then I have my gifts to the world.
I make the least amount of money from Freedom Fast Lane.
Of all my projects, I make the least from
me taking home Freedom Fast Lane.
I talk about this stuff 'cause I can't not.
If you took away all of this, I'll be on the street corner
talking about capitalism and free markets.
I can't not talk about it but for those of you
who've been following me for several years,
you know that I haven't been doing
this show and the podcast with full commitment
until I had the cash flow piece built up
from my physical products brands, which I love.
I've become passionate about them 'cause they're my babies
and now that they're more automated, I can focus more time
on the thing that I think is gonna really
change people's lives and give me fulfillment.
So, I do the same thing.
I balance the things I do for money
and the things I do for passion.
They're just businesses rather than a job and a business.
- [Question Reader] Joe Smolenski asks,
"How do you manage being involved
"in several ventures at once while also
"allocating time for sleep and family?"
- It is very hard to be in
multiple things at the same time
without having very clear expectations
for what you bring to each project
or what you bring to each relationship.
My life changed in a great way
a few years ago when I started Zen Active Sports,
which is the yoga company that I built and sold
and my business partner on that is Sean.
He's one of my best friends to this day.
We spend every Friday night as guy night,
which usually revolves around a really good meal
and then being asleep by 10:30.
That's what happens when you have a kid.
Sean and I started Zen Active Sports a few years ago
and when we were starting that business I remember
being in my bedroom on the phone with Sean and I said,
Sean, look, I have other commitments.
I have other businesses that I run,
so the way this is going to work,
the only way I can be involved
is if I'm the capital partner and your advisor
but this is your business.
You run the operations.
I will walk you through the process.
I will bring relationships to the table.
I will bring money to the table
but those are my only commitments that I can bring.
Does that work for you?
Yes.
Then we outline what the arrangement was gonna be.
I have supplement company called BodyVega Nutrition,
same exact conversation with my business partner Paul.
Paul, I can be an advisor and an investor
but that's all I can bring to this.
I can commit a few hours a week to working with you,
to bringing in certain relationships,
to bringing you suppliers that I know to the table
and that's my commitment to those projects.
Where as with some of my other
projects where I'm much more involved,
that's because either we started it years ago
and it's really successful or I have
other skillsets I bring to the table.
I have other relationships I bring to the table,
so I am not fully time committed into every project.
I set the rules up front for what
the relationship is going to look like.
So that is how I manage having multiple projects.
On top of that I just block out certain times
for certain projects, so when you hear the podcast
I will record two or three podcasts in a day
and that will be spread out over a couple of weeks.
Or if you look at some of my projects,
like my physical products brands,
I have certain days of the week
that I have blocked out for those projects
and my other members, my other team members, know not
to bother me on certain issues on those specific days
'cause I'm going to be committed to something else.
So scheduling and blocking out that time
has worked out really well for me
so batching that time if you will.
If I don't batch time, I'm at my computer
trying to figure out what am I going to do today?
What am I going to work on?
Whereas if I know Wednesday I'm showing up for this meeting
on this project with these team members,
that has helped me be fully present
in the project that I'm focused on
and I surround myself with implementers
so that I can be the idea guy.
I can bring what I know best to the table for a project
and then get out of the way because I
work with people who are better than me
at the things that I'm not good at doing.
(upbeat techno music)
One of my favorite things is when
someone sees what we're doing on the podcast
or here on Freedom Fast Lane TV and says,
I finally felt inspired to start a business
after hearing something that you said.
So this is the part of the show
where we look at one of our student's
businesses and analyze what we're doing
but today's a special edition because someone
near and dear to us at FFL TV said,
"You know something you said finally inspired me
"to start a business," and that was
the guy behind the camera, the guy you can't see.
Chris, let's talk about your business.
Whoa that was weird.
- Hey Mr. Moran, thanks for having me on the show.
- Oh hey Chris.
Good to meet you sir.
So you gave me an idea for a business
that I thought actually had a lot of merit to it so
why don't you talk a little bit about
how you were inspired to this business
and what you're looking at.
- Sure.
Following Ryan has definitely inspired
and also from my own personal journaling
with the five minute journal to create something
for couples and this would be like a couple's journal
that you hand off back and forth and it could help you
build up your relationship, communication skills,
love life, all that good stuff.
So that was a big resolution for me this year, 2017,
launch my own physical product that I'm passionate about
but I also think could generate some cash flow.
Then, doing a little bit of research,
I realized that there's already two pretty popular companies
doing more-or-less the exact same thing and I --
- And they were on Amazon, right?
- Yeah and I kinda knew from the beginning,
well surely someone else has had this idea.
Someone else has done it.
I'll just do it better,
but then I saw that they had over four stars on Amazon,
over 500 reviews and they're selling for
half of the price that I had thought
this would sell for, maybe 22, 25 dollars.
They're selling for 10 bucks and they have raving reviews.
So at this point I'm just thinking,
so I've ordered it and I'm gonna keep doing more research.
- You have ordered the competitor --
- Yeah - Okay, got it.
- I order these competitors' products to see if I can really
improve upon it, but I'm also just thinking, do I need to
stay within the same target demographic
and pivot to a different product,
maybe even like an app or something
that's a little bit different or just get out of this
entirely all together because it's so crowded.
There's already been success with other people doing this
that maybe I just need to back out and do something else.
- Okay so a couple of things.
This is gonna be a good news bad news thing.
First of all, it's not crowded.
Two competitors is not crowded.
Two competitors is wide open so it is not crowded
just because somebody else had the idea first
and made the product first.
That just means they proved the concept
for you to go in and clean up.
- Good.
- Now on the other side of things,
here's the good news bad news piece,
this is not a product that is gonna kill it on Amazon.
When you hear about products that kill it on Amazon
it means people are already searching for that thing.
They're going to Amazon just to
complete the order and yours shows up.
That's why there's been so many
successful cash flow businesses because
they don't have to do any marketing.
They just throw out product in front of people
who are already looking for it.
Yours needs some explanation.
There's no one going to Amazon going,
journal to improve my love life.
- Yeah not really. - It's just not happening.
They're gonna hear about it from someone else
and I don't know anybody else who is talking about it
in the way that you described it.
So, if we look at how a business like this is gonna fly,
it's gonna have to come as the result of influencers
and audiences talking about it.
- Yeah.
- And I don't know any influencers
who are talking about that but if you can
show them that and show them a result,
this is a result-based product, right?
'Cause if somebody does five entries
all that does is just like therapy.
It gets you talking again.
That's the power here so if you get somebody
using it and talking about it,
you become the price setter in that space
and in that case I don't worry about the
fact that they're half the price.
I don't worry about their reviews.
I worry about who's talking about it
and what I like about this product
is it's essentially a consumable.
It's a consumable 'cause once you've
written everything out, you need a new one.
I have like ten Five Minute Journals in my house
because I've gone through it once and I buy a new one
and I go through it and I buy a new one
and you get the same benefit out of what you're doing.
It's just not gonna come as the result.
They might re-order on Amazon
but they're not gonna discover you on Amazon
so your focus needs to be on who are the influencers
or where's the audience already hanging out
that I can get in front of that will talk about my product.
- So, create a kick-ass sales page, find affiliates,
get mentioned by podcasts, blogs, people in space.
- Possibly, that would work just fine
but let's look at the Five Minute Journal.
- Yeah.
- How often does Tim Ferriss talk
about the Five Minute Journal?
- All the time.
I got a feeling he's gonna kick back on that.
- I don't think he does.
I know the founders of Five Minute Journal
and as far as I know, they do not
have a business relationship together.
And a result of him talking about it,
we're talking about it right now.
- Yeah. - As something that I use
I don't even remember how I discovered
the Five Minute Journal but it wasn't through Tim.
It was through somebody else --
- For me it was through Tim.
- Okay, I think I actually was speaking with you Jay,
the creator of it and I think he gave me a free one
and now I'm hooked and now I buy a bunch of them.
So I don't think that you necessarily need
to go recruit affiliates and pay them a commission.
You just need to show the result
'cause people talk about results.
- Yeah.
- I talk about the products that have
improved my life, so does everybody.
You just need to get it in front of the people
who have a platform to talk about it.
It might be relationship coaches.
It might be authors.
And here is the asset you can use Chris.
When you've got an audience
you can now have book recommendations to the same audience
and you can promote each other's stuff.
So if you've got an audience of a few thousand couples,
you can then promote your book to them,
somebody else's book.
That author comes around and talks about it
to their audience and now you've got
the same type of distribution network
that you would have if you had affiliates.
You're just not paying them affiliate commissions.
You're paying them in other book sales.
- Yeah.
Alright, I like it.
- Good work man. - Sounds good.
- I like what you're up to.
Scene.
Whether it is saving marriages, saving lives,
or saving the economy, I believe that entrepreneurship
and capitalism is the best way
to solve all of the world's problems.
It's why we need more success.
We need more wealthy people and we need less government
because government gets in the way.
Entrepreneurship is the solution.
You are the best shot at the change
you want to see in the world.
That's why this conversation is so important.
You can help us spread this message
by subscribing to the podcast at freedomfastlane.com/itunes.
You can also subscribe on Youtube
and like our page on Facebook so you see every episode
that we release on Freedom Fast Lane TV.
Thanks for watching.
We'll see ya on the next show.
For more infomation >> Exploration of the World of Dinosaurs, Dinosaur Cartoon, Cartoon Educational - Duration: 36:48. 
For more infomation >> Анна Шульгина радует поклонников откровенными снимками в Instagram #ValeryAliakseyeu - Duration: 2:14. 
For more infomation >> Rayman 3: Hoodlum Havoc #11 - LA TOUR KNAAREN ! - Duration: 19:04. 
For more infomation >> Top 5 des personnes les plus chanceuses au monde - Duration: 3:03. 
For more infomation >> 7 WONDERS OF THE WORLD THAT MAY SOON BE UNDERWATER. WORLD HERITADE.|AWA - Duration: 6:20. 
For more infomation >> Best caliper with Aliekspress. The most suitable of the economy. - Duration: 2:46. 
For more infomation >> We are all excited! We invite everyone to the channel! - Duration: 1:13. 
For more infomation >> Şişeden Musluk Yapımı - Duration: 1:38. 
Không có nhận xét nào:
Đăng nhận xét