You’ve built up your business into a multi-million dollar success. You continue to see linear growth with your business, but you want to shoot for the moon and reach a 9-figure valuation.
Ryan Moran’s helped transform many entrepreneurs into millionaires, and challenges himself by aiming for ever higher goals. His good friend Andy Drish from TheFoundation.com grills him this episode on his plan to reach further than he has ever before.
Although this journey is arduous, Ryan’s commitment to this task is inspirational. Here’s how he plans on achieving a $100 million valuation:
Step 1: Believe you can do it
Ryan’s exited 8-figure companies before. He hasn’t yet gotten a 9-figure exit, but he knows he can do it.
How? He knows attitude and self-confidence play a major role in entrepreneurial success. Competence plays a role, of course.
If you have a bad product, your business will not do well. But you can’t begin scaling-up a small business if you don’t believe you can do it.
Ryan’s worked with hundreds of entrepreneurs, coaching them on reaching the next step in their corporate growth. Most of the time, he tells them to stay the course; to, effectively, believe in themselves!
9-figures seems daunting, but there are lots of people who have done it who aren’t incredibly brilliant or heroic individuals. They’re regular people who had an idea and stuck with it. They believed in what they had to offer, worked hard, and saw results.
Step 2: Have a strategy that lets you scale exponentially, rather than linearly
Ryan dreams of being able to own the Cleveland Indians. He’d like to do that sooner rather than later. This was one of the motivations behind his genesis of The Capitalism Conference.
Three years ago, annoyed with having to start across the world to attend entrepreneurship conferences, Ryan decided to launch his own in Austin, Texas. He hired people who had built large businesses, flew them in, and threw an event.
Since then, he has held his Capitalism Conference annually (formerly Freedom Fast Lane Live), where elite entrepreneurs, millionaires and business experts share their secrets for attendees.
While managing this conference as a business venture, Ryan also surrounds himself with individuals who know how build a 9-figure company. So while he learns strategies from these experts, he can continue to work on Step 1: training his brain to think that these types of goals are viable.
After attending these conferences, he has decided on his own strategy: Ryan will acquire and invest in companies in a similar industry, as well as start new companies in that space. That way he can grow them, roll them up together in a “package deal”, and sell them for a minimum 10x multiple of their annual profits.
A number of the companies he has invested in are in the health foods and healthy living industries. He is also considering starting up another company in this space.
As he grows these companies and works with colleagues to help mature their operations, he is making them more attractive for a high-value sale in the future.
Step 3: Commit the time to it
Ryan will not make any business commitments unless he’s willing to stick to it for at least a year. For example, he hired a videographer to help build up the content on Capitalism.com. If anyone asks him “how’s that videographer working for you?” he won’t give them an evaluation until at least a year has passed.
Otherwise, he feels like the period is too short to provide any form of evaluation.
Ryan is willing to spend the next ten years pursuing Capitalism.com, both as a business venture and as a means to improve his own understanding of entrepreneurship. He has a long life ahead of him, and he is willing to take that risk and put in the hard work over those years to chase his dream.
DISCOVER MORE WAYS TO SCALE YOUR BUSINESS ON CAPITALISM.COM:
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• How Robert Herjavec Reached the ‘Unattainable’ $50+ Million Before Age 50
• Follow This 4 Step Formula of Success for Every Business w/ Mark Ford