I have exciting news! Amazon millionaire Ryan Moran is ready to teach you how to build a $10,000,000 online brand on Amazon. How would your life change if you made $10,000,000?

After I spoke at the Amazing Seller Summit event in Las Vegas earlier this year, I got to the opportunity to interview my good friend, Ryan Moran.

Ryan is the Founder of Capitalism.com, and the CEO and Host of Freedom Fast Lane, a podcast that helps high achievers build businesses and then invest the profits. You can also check him out on his YouTube channel.

Ryan has built and sold many successful online businesses. This Amazon millionaire reveals how to make $10,000,000 on Amazon.

To this day, he believes that the most predictable path that you can take in order to create a 7-figure business is by building a physical products brand.

Watch the video below:

(Click here to watch on YouTube)

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Do you want to receive my free Amazon training series? CLICK HERE for instant access!

Here is a sneak peek of my interview with Ryan Moran. This Amazon millionaire reveals how to make $10,000,000 on Amazon:

Can you share a little bit about your story? How did you get started, and how did you get to where you are today?

When I was 15 years old, I heard my Mom in the other room crying because I had broken the washing machine. This baffled me. I worked at Dunkin Donuts at the time and I knew that I could just take the money from the tip jar and pay for the washing machine. From that day forward, I decided that I never wanted to have that type of life.

One of my customers at Dunkin Donuts gave me a copy of the book, Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!. In that book I learned one thing – that rich people acquire assets. I started my first business in college. I did affiliate marketing, which is where I made my first $100,000 and then my first $1,000,000. Ultimately, I wanted to get to the point where I was building something that was mine, rather than someone else’s. Five years ago, I took the skill-set that I learned as an affiliate marketer and started to build physical products brands.

Why do you think that Amazon is such a great opportunity for someone that is brand new and that wants to build an online business?

I don’t. A lot of people think that Amazon is “the way.” It’s a tool to get whatever it is that you believe in, out to the world. You can get married to an opportunity, but it still requires you define who you are going to be and what your business is going to be about.

Amazon is the best opportunity that I’ve seen for being a vehicle for making that real. Have you ever heard of the “be, do, have” breakdown? It asks, “Who do you want to be, what do you want to do, and what do you want to have?” There is an order to that, but most people start with what it is that they want to have. Let’s say it's making $10,000 per month. In my opinion, the fastest way to make that money is to say, “Who do I want to be, who do I want to be around, what is my business going to be about, and what can I do within that business?” 

Can you share what the benefits are of building a brand?

I’ve sold my brands for millions of dollars and that was because I had an online brand instead of a bunch of random products. A brand can sell the exact same product for twice as much because it is a brand, and people will choose that because they believe or identify with it. One is sellable and one is always going to be price-sensitive and review-sensitive.

The reason why most people don’t build a brand is because it takes more thought. People want to be told what to do, rather than put a stake in the ground and say, “This is what I’m going to be about.” The Amazon formula is helpful once you know who you are going to be.

What do you think are the biggest mistakes that people make when starting a business?

The biggest mistake that people make is that they think short-term. I always take the approach, “What do I want my business to look like 5-10 years from now?” If I have that as my guiding light, I’m wiling to navigate the bumps along the way.

If your strategy is that you want to hustle your way to achieve your first X, and you run into a roadblock, there is a high chance that you will quit, if you don’t have something pulling you through that. I won’t start any project that I am not willing to commit at least one year to.

What is your advice for someone that wants to start an online business?

The habits that you practice over a long period of time are what get are going to get you the results that you desire. One of the best books I’ve ever read is called, The Slight Edge: Turning Simple Disciplines into Massive Success and Happiness, by Jeff Olsen. It’s main thesis is that the results that we get in our lives don’t come from big leaps, but by the constant habits that create big leaps. You need to swing and miss a lot in order to hit that home run. I have swung and missed many times, but most people only see my home runs. I was willing to suck until I didn’t suck anymore. Entrepreneurs are the best shot that we have at creating change in the world. Start a business and take control of your life.

Do you want to receive my free Amazon training series? CLICK HERE for instant access!

I would like to share with you how to calculate and track your net worth. This is one of the most important finance rituals that you can have for your life.

How will you ever know if you are getting ahead financially if you have no way of tracking your wealth?

I first started engaging in this ritual in my early 20’s, when I would track and update my net worth every 3 months. Today, I track it every 6-12 months. I have come to understand that my net worth is the most important number when it comes down to my financial wealth and abundance.

Theoretically, your net worth is what you would have in cash if you sold every significant possession and paid off all of your debts.

If your net worth is a negative number, don’t worry. You aren’t alone. All that matters is that you take action and start making better financial moves.

In the words of Benjamin Franklin, “Your net worth to the world is usually determined by what remains after your bad habits are subtracted by your good ones.”

Watch the video below:

(Click here to watch on YouTube)

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Do you want to learn how to master your finances? CLICK HERE to join my Life Mastery Accelerator program!

It’s not about how much money that you make, but rather how much money that you get to keep AND what you choose to do with that money, in terms of accumulating assets and building up your net worth.

A great example of someone who has effectively mastered the investment game is Warren Buffett. Known to be worth $75 billion dollars, he is one of the most successful self-made investors in the world.

At the age of 11, he used cash from his paper route to buy farmland. At 15 years of age, he already had a net worth of $6000.

I believe that while we should all strive to make more money, that doesn’t necessarily mean that we are worth a lot of money. For example, you could make one million dollars per year, but you could also be spending all that money in one year. If you adopt this behaviour pattern, you will never get ahead in life.

The goal is to accumulate assets that can then provide a passive income source for you, which will continue to grow as you move throughout your life. If you take this path, you will achieve financial freedom.

I see a lot of people who work their entire lives, but have nothing to show for it. Make money, but make sure that you do something with it. If you don’t currently know how to manage your finances, then making money isn’t going to help you.

Your net worth is your assets minus your liabilities. Your assets are what you own and your liabilities are what you owe.

You want to focus on accumulating more assets. Go through all of your assets. Examples may be cash, a business, or investments like stocks, mutual funds, or real estate.

Calculate where you currently are for each of your assets, and then add all of them together. Keep in mind that your final number isn’t your net worth because you also need to take into account any liabilities that you may have.

For example, you may have a student loan, a line of credit, a car loan, or a mortgage. Calculate those liabilities and come up with a final number.

In order to determine your net worth, you would take your assets and subtract it by your liabilities. Ideally, you want to accumulate more assets over time and reduce your liabilities.

Watch my YouTube video above to see how to calculate and track your net worth using an excel spreadsheet!

When you go through the process of calculating and tracking your net worth, you may realize that you need to cut out some of your expenses and change your lifestyle. Being smart and taking these steps is what will determine your financial wealth, more than anything else.

This is how to calculate and track your net worth. The more that you measure something, the easier it becomes to manage it. I challenge you to create a ritual around financial wealth and abundance and make it a priority every day.

As part of my monthly Life Mastery Accelerator program, I have a live training session coming up in the next few weeks where I’m going to dive deeper into how you can manage your money more effectively.

I will also share some of the strategies that I employ in my life when it comes to creating financial wealth and abundance. A lot of people are great at making money, but they don’t know how to invest it, and that is what I teach people how to do.

I believe that financial freedom begins with a change of your mindset. Calculating and tracking your net worth is one of the most important steps that you can take in order to improve your finances.

T. Harv Eker said it best, “Focus on all four of your net worth factors – increasing your income, increasing your savings, increasing your investment returns, and decreasing your cost of living by simplifying your lifestyle.” The result? Financial freedom and abundance.

Do you want to learn how to master your finances? CLICK HERE to join my Life Mastery Accelerator program!

I would like to share with you some money management tips for getting out of debt. Debt is no fun, and the emotional burden that it can create in peoples’ lives can be overwhelming. Henrik Ibsen said it best, “Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt.”

Have you ever wondered why so many people have outrageous debt? A large reason is due to the lack of having a well-disciplined budget and financial life.

Managing your money doesn’t have to be difficult. It’s about knowing how you are using your money. How would your life change if you were free of debt? Make a decision to get rid of it, once and for all.

Watch the video below:

Click here to watch on YouTube)

Are you ready to learn how to master your finances so that you can succeed faster? CLICK HERE to join my Life Mastery Accelerator program!

Below are 5 money management tips for getting out of debt:

1. Be Aware of And Accept Your Debt

One of the most difficult things to do when first getting on the debt pay-off journey, is to truly accept your debt. Oftentimes, the reality of debt is too painful to acknowledge or accept, so the natural response is to avoid that it exists. I speak from personal experience.

When I was in my early 20’s, I was in a lot of debt. I had to make sacrifices in order to manage my money more efficiently and become debt-free. It was the acceptance of my reality that allowed me to make a change in my life. If you are serious about becoming debt-free, you need to acknowledge its existence. Be proactive. Don’t live in fear. Instead, take action. 

2. Decide To Change your Spending Habits

Making a decision implies that you are about to take action. When you make the decision to change your spending habits, you are halfway there to financial freedom! Saving money is about changing spending habits. What are your spending habits?

In order to become debt-free, you need to address the actual money management habits that you are struggling with, that led to the debt in the first place. Ramona Pearson, a certified public accountant and personal financial advisor said that “Money habits are formulated at a very young age for most people.” Take the time to figure out why you're spending habits are the way they are.

Sure enough, this is the reason why a lot of people that win the lottery end up losing it all. They don't take the time to develop the discipline in order to manage their money properly.

Focus on cutting your expenses or your overhead in some way. This will allow you to have some extra cash flow every month. Then, you can use that cash flow to start paying off your debt.

3. Track Your Expenses

If you want to free yourself from debt, you need to start tracking your expenses. The best way to work out what you spend your money on and how much you have left at the end of every month, is to keep a record of all your expenses.

According to Pick The Brain, for two weeks you should write everything down that you spend. Record the time, the place, and how much it costs. Doing so will help you identify your spending patterns.

If you haven’t done something like this before, there is a good chance that you will shock yourself. How often do you track your money? If the answer is never, it’s time to get out a calculator and start doing the math!

4. Don’t Spend What You Earn

Once you start making money, don’t be tempted to spend MORE money. This is where people get themselves into trouble. You have to discipline yourself to NOT engage in this behaviour.

In his book, Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, Robert Kiyosaki said, “Invest in assets, not liabilities.” An asset is something that puts money into your pocket, while a liability is something that takes money out of your pocket. Which category does everything in your life fall into?

If you can’t manage the money that you currently have, then there is no point making more money. If you adopt the mindset that making MORE money will be the answer to your debt issues, you are wrong. This is a recipe for disaster.

5. Reward Yourself

Adjusting to a new style of living involves sacrifice. Breaking bad habits, especially when it comes to spending money, is hard work. This is why it’s important that you reward yourself when you have practiced self-discipline.

Be kind to yourself and engage in mini-celebrations, now and then. Why? Because the MORE that you acknowledge and reward yourself for your successes, the more success you will have.

Charles Duhigg, New York Times reporter and author of The Power of Habit: Why We Do What We Do in Life and Business, said “First, you have to pick a cue, like every single time that you get a pay check, you’ll move 5% of it into savings.” The key to making your habit stick is to give yourself a reward every time that you engage in a positive behaviour.

Debt is debt, but don’t feel that you have to punish yourself because of it. Honour the small achievements that you make every day, on your journey towards financial freedom. How you choose to manage and spend your money can have a profound impact on your life. I encourage you to follow these money management tips for getting out of debt.

Your ability to make good money decisions will end up shaping the direction that your life will take. Are you ready to be free of debt? Take control of your financial future now!

Are you ready to learn how to master your finances so that you can succeed faster? CLICK HERE to join my Life Mastery Accelerator program!