Friday, November 17, 2017

Why I Sold My Primary Physical Products Business

physical products business, business, capitalism, Ryan Moran, freedom fast lane

This episode is a behind-the-scenes look at what transpired leading up to, during and after I sold my primary physical products business.

There have been several things going on behind the scenes that I have kept close to my chest, that I finally get to talk about here on the podcast.

Part of that is, about six months ago, my business partner and I decided to sell a portion of one of my physical products businesses. And we completed that deal. And I want to talk a little bit about that deal today.

I want to back up a little bit and give you some context for this because what some of you don’t see on the podcast is that public facing, I have Freedom Fast Lane and we put content out on Capitalism.com.

What I think a lot of people don’t see or overlook is the fact that I have made the vast majority of my wealth — and by vast majority, I mean like more than 90% of my wealth, in my physical products companies like Foxbrim, which is a beauty company that I purchased; like Sheer Strength, which is a sports nutrition company that I’ll talk about mostly today; Zen Active Sports, which was a yoga brand that I’ve documented here with my buddy Sean Coyne.

But a lot of people here know me for the podcast, which is kind of interesting because behind the scenes, most of my income and my wealth has come from my physical products business endeavors. And there have been some things that, over the last six months or so, I have had to kind of keep quiet.

So here on the podcast I have talked about other things, or done guest podcasts and things like that. But what’s been going on behind the scenes is that a little less than a year ago my business partner Matt and I kind of looked at each other and said, “What do you want to do next?”

We’ve grown this business to as big as we know how to take it, and I don’t know how we’re going to take it to $50 million or $100 million.

We took it to the point where we were about a $10 million company. We were doing $600,000 to $800,000 a month on Amazon. We had just broken into retail, in about 1,000 retail stores across the country through the connections we made in The Tribe and our retail partners.

We made a whole bunch of mistakes getting there, but we had gotten there. And then the question came up, “Ok, what the heck are we going to do next?” Because we were a small team.

At the time, we were a team of six pared down to a team of four, and we were pacing eight figures. But growing an infrastructure and a team, and bringing on the right people was just something we didn’t have experience doing.

So it was at that time that we said that it might be time for us to go out and get some help, or sell the company.

 

–>Listen to the full podcast above and subscribe to the Freedom Fast Lane podcast here.<–

 

MORE EPISODES OF THE FREEDOM FAST LANE PODCAST ON CAPITALISM.COM:
Why Internet Marketers are Uniquely Qualified to Make the World Better
Using Cognitive Biases To Increase Sales, Brand Loyalty
Entrepreneurs Grow Sales from $5 Million to Build $50 Million Empire

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