Call in with Colin

How to Make Money in America | Spot the Next Big Opportunity

October 08, 2021 Colin Wayne Season 1 Episode 9
Call in with Colin
How to Make Money in America | Spot the Next Big Opportunity
Show Notes Transcript

How to Make Money in America | Spot the Next Big Opportunity

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Speaker 1:

So many people, they want this like perfect easy life. And I always tell folks, like, if you look at it this way, like if you were to watch a movie or a TV series, whatever, and you knew that it was just, everything was going to work out from the beginning and there wasn't any drama. And there wasn't a bad guy. Everybody was a hero. Like nobody would watch that show. You know, like we watch shows cause , oh man, he did them dirty, right? Like that's what we , we watch. Oh, there's a struggle that they overcome. And, and you know, let's say that somebody, God, whatever you want to call it is watching over us. Well, you know, your life has an opportunity to be entertaining and exciting. If you look at it that way versus always being the victim of society.

Speaker 2:

I got to make it a mate . I gotta make it a mix . Well , I got a negative. [inaudible]

Speaker 3:

Welcome back to another episode of the column with Collins show. I am your co-host digital Jeff. And this is a show where you can call in and ask Colin Wayne, anything you want today's episode is going to be special. We got a storyteller of storytellers, man. You guys know I love storytelling. And this guy is somebody I love. We got Ryan Stewman coming into the call right now. He goes by the hardcore closer. And he's one of my favorite people on social media. This guy can sell anything to anybody. He can sell ice in the winter, fire and hell . He's so good. He can sell water to a whale . And he also has one of the top podcasts in the world. Ladies and gentlemen, welcome Ryan Stewman to the show.

Speaker 1:

What's up fellas. I appreciate you taking my call. My name's Ryan Stewman. I'm from Dallas, Texas. And my question is right now, it's hard to source things. So it's , it's a big struggle for a lot of business owners that are in the goods business, right? It's like service something that you offer your time. That's fine. But right now, just the other day, I flew from LA to St. Louis and we flew over like the port of LA and there must've been a thousand ships backed up in the pilot and the plane said, yeah, it's that way because there's no labor. And I know a lot of people right now can't get supplies . So they're like, and if the supplies they do get, they're having a charge through the roof, which is causing a big struggle. So what did you guys really do it to, to overcome some struggles right now? Like that in your business?

Speaker 4:

Yeah. You know, Ryan, that's a great question because like right now it is a challenge within every vertical from getting freaking chocolate milk to lumber, to steel , everything is just, it's challenging to find in addition to just the inflation side of it , uh, which is that supply and demand aspect, the labor market makes it 10 times more challenging. So when you're looking at the government, which months ago was offering incentives basically to be , uh, unemployed , uh, it's, it's caused a ripple and it's just like within sales, if you stop what happens today is going to impact tomorrow. You may not see it for a week a month, but those leads are going to go cold. If you stop Facebook ads for 30 days, imagine starting back 30 days later, you've got no top of funnel traffic, the remarketing retention side isn't there. But the same thing with like this domestic supply chain issues, labor goes away. You're you're dependent and we've always been dependent on third-party nations, China , uh, to get things in the door. But if, if, if everything's backed up, then it causes an impact. And I think it's been this way for a long time, but now it's getting 10 times worse because of what happened last quarter. And so for me and my business, redline steel, we source domestic steel at Nucor . Uh , just one of the largest , uh , steel manufacturers. The challenge that we're having right now is , uh, the tonnage, the Cru index is over 340% higher than what it was this time last year. So not only an inflation standpoint, but also like , uh, finding the steel because the steel meals get paid on tonnage. They want to run thick gauge steel because the same amount of time is also the reward of a higher payout. So they want to run like quarter inch, three quarter inch mild steel, where I'm needing just thin gauge steel. So what's happened is aluminum for the first time that I'm ever aware of is cheaper than mild cold rolled steel, which is absolutely crazy. So it's forcing me to pivot and to go into different areas. So we started to sell t-shirts last November, and now we've scaled it to where we're selling about a hundred thousand shirts a month. And that's something that has actually kept its true cost. Um, and it hasn't even , uh , increased. I expect it to go up some, but it's not going to be a 340% increase. So, you know, my business model, I've just had to be comfortable in uncomfortable situations. Kind of like , uh, shifting into something that I thought you think red line steel, we only sell steel products, but we sell a hell of a lot of shirts, canvases . We're about to get into like welcome mats and other things, anything within the home decor category. Um, so just pivoting and, and really just trying to figure out what works today. Isn't necessarily gonna work tomorrow and we have to move fast. And the way that I look at it also is like my zero as most, people's like , uh, they're comfortable. So my threshold is three months of fixed and variable cost expenses into a savings escrow account. And then an additional 90 days into working capital, all major buying decisions are predicated beyond that. And so if I'm, if I'm beyond that capital level and I still have 90 days working or 90 days , uh , CapEx and the bank from savings, I'm already at zero because I have no working capital, even though in theory, we'll call that half a million dollars. That is my zero. So if it's below that, that, that pain threshold point, I've got 90 days to figure something out and pivot to something else. Uh, Ryan, I'm curious, like I know challenges with what you're doing and scaling into different verticals with physical products. Um, I've seen on social media, you launching restaurants and , and to that industry , um, different franchises. Um, how has that been a challenge for you? Because , you know, I, I correct me if I'm wrong. I didn't know. You had experience into that space. You are an incredible salesman , um, which that's a massive gift, but going into verticals that you're not consciously aware of. Um, you know, what are some of those obstacles that you're seeing right now? And are there any like uncomfortable unforeseen things that's kind of costs you to pivot?

Speaker 1:

Yeah, very , I think that's life, you know, like so many people, they want this like perfect easy life. And I always tell folks, like, if you look at it this way, like if you were to watch a movie or a TV series, whatever, and you knew that it was just, everything was going to work out from the beginning and there wasn't any drama and there wasn't a bad guy. Everybody was the hero. Like nobody would watch that show. You know, like we watch shows because , oh man, he did them dirty, right? Like that's what we , we watch, oh, there's a struggle that they overcome. And , and you know, let's say that somebody, God, whatever you want to call it is watching over us. Well, you know, your life has an opportunity to be entertaining and exciting if you look at it that way versus always being the victim of society. If you look at it that way. Right. And so for me, I'm much like you calling . I have, I believe in having six months worth of capital reserves for personal, you know, in my personal savings. And then obviously for each one of my businesses and then outside of that cash does me . No good. And , uh, I, I'm a big believer. I agree with Cardon that cash is trash, especially right now with very low interest rates. So, you know, I've been buying real estate for the better part of 20 years now since 2004. So almost 20 years I've been buying real estate and I still own a lot of real estate, but you know, I like trying new stuff and getting out of my comfort zone because what I do for a living is I'm a, basically a business consultant. And so the more businesses that I can personally own that are successful and can learn from the better that I can actually provide value to my clients. Right? So a few years ago I got into the software business in 2015, I still to this day know nothing about software. I just saw a big issue in the marketplace and wanted to fix it. I noticed that all the other landing page softwares were great and they were very functional and awesome. But the average person wasn't going to learn how to do that stuff. It was for like internet marketers. Well, my clients are business owners. There are people that are plumbers, electricians, they're roofers, they're insurance, salespeople , they're broker owners of real estate corporations. They're presidents of banks. They're they're entrepreneurs. They're they're those kinds of people. So they're not necessarily the most tech savvy people. So I wanted to build a simple platform, but I had no idea how to have, how to do it. But the ultimate equalizer in this country is money. I had money. And so I went and found somebody who could take my money and turn my idea into a reality. Here's what most people do by the way, they show up with an idea and no money, and they want you to throw money at it and make their idea a reality. That's not how forks ladies and gentlemen, how it works is you show up with an idea and money and they'd pay somebody to make that idea a reality. I did that and that company has done $3 million in revenue , uh , in the last four years. So it's nothing huge and I'm still learning it, but I've , I've learned how to effectively partner with people that do understand software and how to hire folks. I have a COO over there and then I have a CTO in that company. And I still today have no idea how that stuff works. I just get paid from it every single month because we built a business around somebody else's expertise and my idea,

Speaker 4:

Okay, can I add something real quick, Ryan to you? And I hate to cut you off, but this is important guys, because exactly what Ryan was talking about. It is so true. When you think about what's out there on the markets, like , um, different funnel builders, these are complicated that most people wouldn't understand or comprehend when you think about

Speaker 1:

Granted call them because you're a genius at this stuff. So to you, it's easy, but to the average person, it's

Speaker 4:

Bingo, but you , you saw the market opportunity because of the complexity behind it, trying to build this stuff out. And I'm sh I guarantee you, based on market research, Ryan went in and probably tested a bunch of different platforms. That's part of like building a business plan. What are the pain tolerances? Can a general person go in and apply this? So he found a blue ocean , uh , market, because one software is incredible that EBITDA payouts, he goes to exit. Now he's at a 40, 50 times multiple because of that annual recurring revenue side. So it's going to be a massive differentiator between real estate. Uh, that's going to be just a , uh, you know, that passive fix that goes to flip, and now you can use that, collateralize it and go and buy multiple things. But the software side of what I do want to bring up is he saw , uh, an opportunity that he could come in and disrupt it based on the end consumer, thinking about them in mind, what can I do as an avatar? Who am I targeting? Let's simplify it. Let's make sure that the objective is leads and that they can, or a sale call sales , uh , generating , um, you know, nurturing that lead, making sure. And then simplify it, make it extremely easy on that kind of a done for you system. And , uh, that's, that is genius because that doesn't really exist. I've tested a lot of different funnel builders. What , what's the what's , what is the name of that app, by the way?

Speaker 1:

It's , it's called Foley lights and dude, here's what we did. Like I it's called foam sites in here's my theory. Kay . I believe that. And I say this all the time, there's 10 numbers and seven colors and everything else, humans just complicate. Right. And what I watched these software companies, cause I've been in this for a long time, like use since 2010 and I watched companies and I'm not going to say names, but companies show up and have a great program, but then never say no to their users, their users, like you should add this feature. Oh yeah, you should add this feature. And the next thing, you know, there's 5 million features in a brand new user shows up and goes, I don't know how to use any of this or what I need. And then they just have overwhelmed. I wanted to create something that people could just log in with no skills, no necessarily , and just make something that's functional. It didn't have to be the most beautiful. And if you're good, you can make it beautiful. But I needed something that works within 15 to 20 minutes, max attention span. Right. And Colin , as, as we got, we have about 6,000 users right now. So we're still new and growing. But on top of that, what's really cool is that as people started asking for things, we kept saying, no, no, no, we're going to make it simpler, not more complicated. But one of the things people kept asking us was like, man, I'm not very good at writing. I'm not very good at writing ads. And I'm not very good at putting the copy on these funnels. So we went out and again, because you got money in America, I went out and bought an artificial intelligence software. We looked at like 20 different softwares. We bought the most one invested heavily in it. And now our people can put a few keywords in there and it will write the sales copy for them or the email or whatever they need. And then they can just copy and paste that and put it on. So, and that just makes that process simpler. And so our theory is if it makes it simpler, we will put it on there. If it complicates things, we don't want nothing to do with it, you know, which I'll probably never have the internet marketing crowd and that's totally fine because they need the fancy complicated stuff. But there's a lot of simple people out there like me that just want to get something that's functional, you know? And you, you ask about the , uh , restaurant business. It's kind of the same thing, but here's, here's my thoughts. Right? And I'll just, hopefully this will inspire somebody to think this way too. So if you're paying attention to the country right now, things are a little different. Uh, and, and that's totally fine. And , uh, it's, it's, it is what it is. But I start looking at things of not , uh , well , how can I collectively suffer with everybody else? Because that's not how I think. So what I started thinking was while everybody else is mad at the president, whichever one did they were mad at while they're mad at the president, I'm going to figure out if we , if we're going to become a socialist country, like everybody says, and I'm not saying we are, but if we are, how do you win in a socialist game? Right. I know one the capitalist game, you know, I'm getting a participation trophy, pretty, pretty good size in that, so that you do it in the socialist thing. Well , first you gotta have money. So I better make sure they're not making money. Right. In case we do flip somewhere in the future, I want to be on the Hab , not the have nots side. So I started thinking, okay, I own a business. I own real estate. If you look at China, that people that are wealthy and the people that are royalties same in Inc in Europe, they are land owners, people that own land, there are people that own businesses. So I thought, okay, I got software, I've got real estate. And I thought, what else, if like the end of the world happens, what's an important thing to have a tap into. We need food and water. So I thought, well, I'm going to start investing into restaurants because then it's at least in some way, I'm tied into the supply chain of food. So I'll know ahead of time, if something ever happens, if my restaurants start running into shortages of food, then I'm , you know, okay, cool. And then I'll know that I need to do something at home to stock pile my own personal food. Cause something's coming right. And the meanwhile I'm going to make money from them because I partnered with an operator that's running. We've got collectively between me being in the parent company of ever bull . And then , uh, I have, I think, 20 dirty birds. And that I'm a part of, I don't own all of them outright, but I'm a part of it. And then 10 coconut island grill . So I'm sitting somewhere around a hundred, 120 restaurants, depending on how many edibles we've got right now. And , and those are paying cashflow every month, just like my real estate property. And I take the money from the cash flow and I use that to buy something else. That's how you can get really rich is when you get your money to make money and it doesn't even have to be millions. If you get your $20 to turn into $25, you didn't have to do nothing with it. That's how you get rich in America. You just keep doing that as many times as you can. And so now that's built this ecosystem that allows me to do what I do best, which is be the business consultant, preacher, whatever you want to call me. Right. And that's my mission of what I do best then I, but, but like you said, once I have these reserves, what's worked well for me is I don't need any money outside of these reserves. So let me invest all of it. Right? And some deals win . Some, some don't, you know, I'm invested, I'm an investor in sky labs , which is the software that's built in Donald Trump's social media site. Right now I'm an investor in Triller, which was just the Jake Paul fight and the vendor Holyfield detour bell for five , like I'm an early investor in a lot of these companies because of my position and like, Hey, some may win and some may not, but, but if I'm not putting money out there, it's not doing me any good sitting in my bank. What's $10 today is going to be $8 and two or three years. If I just leave it sitting there or I can turn around and turn that 10 into 10,000 over the next few years. Cause there's really opportunities everywhere right now, if you're awake.

Speaker 4:

Amen. And it's passive. Like that's , that's what you're investing into is everything is,

Speaker 1:

You know, where these places are, bro. I don't even know what states these restaurants are in. I just know the checks cash every quarter, you know,

Speaker 4:

Jada's good, Ryan, you have an incredible podcasts that I've listened to for years , uh , would love for you to , to speak on that. Um, and then , uh, I've got one last question for you at the end. Also guys, he has a bad-ass Facebook group too . Um, and you know, I don't plug, like if you've watched multiple shows, I haven't done one kind of it's, this isn't even an endorsement, but me and Ryan, we go back , um, I've been to his mastermind, he's got an incredible one. I find a lot about you and you've been very consistent for years on your podcasts would love for people to, to connect with you there. And then also you have a Facebook group that you provide a hell of a lot of value in as well. That I think that our audience can learn more if you're interested in, I mean really sales, anything that's passive. Um, but that's, it's more catered towards the , the sales industry. Um, and yeah, would love to hear about those.

Speaker 1:

Well, you know, with , with my podcast is called rewire and you know, there's probably 800 or so episodes already in the tank there I've been, I've been doing podcasts since 2011 before they even call called podcasts. And I didn't know, I had a podcast one day, it just showed up on iTunes and I was like, well, check this up . That's awesome. It's like, Hey, and so, but it's called rewire. And again, it's, if you'll notice there's a reoccurring theme with me, I saw a big problem in the marketplace and I set out to fix it. And as far as I know, I was the first person to do this. Right. There's been a lot of people that have copied me since then. But , um, you know, most podcasts were 30 minutes, 45 minutes an hour. Sometimes Joe Rogan two hours, if they're really stoned and they go on for a long time. Right. And I know that like I like getting things done. Like I like to the point what's the subject, there's an author. Who's one of the best-selling authors of all time named James Patterson. He wrote along, came a spider kiss , the girls and he writes books. And in the chapters, in the books, they're like one or two pages. So as you're reading it, you feel like you, you know, oh, I read 40 chapters today. It was like five pages broke, but you feel like you're winning. You know? And so I wanted to do something different if everybody else had a 30 minute or longer podcasts , I was going to do something that was the absolute minimum, which according to iTunes was three minutes. So if I did a three to four minute commentary with an intro and an outro, that's about five minutes all together. Right? And so that's what I did. And I thought, man, maybe people like it, maybe they won't, but somebody can say, Hey, I listened to five podcast episodes on my way to work today. At some point you feel pretty fulfilled that they're getting some stuff, right. And dude turns out I was podcasting for an hour on the THC podcast , which I still do. And I'm barely in 2017, I was barely getting 10,000, 12,000 listens a month. When I started rewire within two months, we were at a million subscribers a month. Now I think that thing's got 3 million active listeners a month. It's like insane because people, because what happened, the benefit for me was apple goes, oh, they're listening to like six or seven episodes a week of this podcast. Let's just keep giving it to them. Right. Nevermind that it's only three minutes. Right? That didn't matter. So it's been a big benefit, but it's called the rewire podcast. It's on iTunes, Spotify and Facebook. Everybody was building same thing. Right? I saw a difference in the marketplace. Everybody was building these email lists, but email was getting less and less deliverable, right? Everybody was building business, Facebook pages. But unless you were running ads to them, they were hiding it in the newsfeed. So I looked around, I said, the only other thing, this was 2013. I said the only other option is to build a Facebook group. So I'm going to stick with it. So how many people, you know, they built their Facebook group by themselves since 2013. That's that's what, nine years, eight years that I've been doing this consistently every day , two posts a day. And now that group is 103,000 members. And I promise you, we make mid seven figures. I'll say we've done at least 4 million in sales from that group this year. So while everybody's struggling with deliverability to their email, we do email too . I'm not on that. That works as well. But like we got a a hundred thousand email subscribers and we've got a hundred thousand people in our Facebook group . So we're hitting double. And my, one of my clients, Arnie guest has a software called group funnels. So everybody has to enter their email in one of the questions. And it we're building our list with this too .

Speaker 4:

You mentioned group funnels. And so we just created this course specifically how to monetize from Facebook groups to , uh, using group funnels. One-click ads at all to a Google sheet from Google sheets and does Zapier, Zapier into Clavio where we create tags , uh, segments at audiences and then flows and then using that same data to dynamically serve them. And it's super advanced, but it doesn't even have to be because I do it for them. Like literally check this box, go here. Like everything's done. So super cool and small world that y'all, this, this got brought up.

Speaker 1:

I had no clue. Yeah. Arnie has been a , an apex executive for probably two years. You know, every time I've talked to you several times over the years on the phone, every time I talked to you, man, you like the only person I ever met in my life, that's like passionate. Like, I can feel it in your voice. It's like passionate about like geek stuff. You know what I mean? Like , like most people are like that are entrepreneurs. They're like, you know, dude, I love sailing steel, but there's a bunch of tech stack crap that I hate. But you were like such a deep, like that's your zone of genius is the behind the scenes. Like how do we target retarget remarket ? Like, dude, you can just tell when you talk about it and you light up, like I do when I talk about like sales or mindset .

Speaker 4:

Yeah. And I think that's why I disrupted the market and why you do so good because your zone of genius and you know exactly what that is. And we go and find people that aren't in that , that our strengths are not. And we double down on that and we're able to really move the needle because we know where our best use of time is. Uh, Ryan, I got one last question for you. Um, if you were to die tomorrow, what do you want to be remembered for

Speaker 1:

Having the best funeral ever in the history? So here's my, when, when I die, like we're not going to wear, well , we always wear black anyway. But, but like we , we're not going to dress up fancy. I'm not going to inconvenience anybody like that. And we just going to open the mic and we just don't have people up there and tell it stories with Stewman. I've done so much crazy in my life. It's hilarious. Funny mind blowing. You've never fricking expected that there's going to be people up there. Just tell the stories. There will be shifted entertains people forever. And when I leave people be like , now that's a legacy. That's how you leave a legacy. Everybody hated to see you leave, but they had a hell of a good time talking about your one more time on the way out.

Speaker 5:

[inaudible]

Speaker 4:

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