How to Earn $1 Million in 12 Months: Insights from Ryan Moran

If you want to earn $1 million in a year, it’s not an impossible feat. But it’s not an easy one either. The answer is simple: sell a product worth $10 to 100,000 people or a product worth $1,000 to 10,000 people. In his book, “12 Months to $1 Million,” author and entrepreneur Ryan Moran shares how he achieved this seemingly impossible goal by creating and selling multiple products.

Ryan Moran’s story is inspiring. He started his first business venture, Zen Active Sports, which sold yoga mats, towels, and other fitness products. Unfortunately, the physical business turned out to be a loss-making one. He learned that his major mistake was not having a structure or game plan for his business. He invested all his money into the business, which left him broke and homeless, having to sleep on his friend’s couch.

To fund Zen Active Sports, he started a podcast named “Freedom Fast Lane” where he interviewed successful entrepreneurs and gained wisdom from them. He then launched Zen Active Sports on Amazon and learned how to make the business profitable by creating systems and processes. Before the company hit $1 million in revenue, a private equity firm bought it, which started Ryan’s journey to becoming a millionaire.

After selling Zen Active Sports, Ryan launched his second company, a sports and nutrition company that sold pre-workouts. He then sold that business to a private company to scale it up. He then started his third venture, which was related to health oil, and made it profitable too. Ryan’s success secret was getting products on a lower cost from websites like Alibaba in China and Vietnam and white-labeling them to sell on Amazon. He learned that white-label products were the key to his success.

Ryan Moran’s book is divided into three stages: the grind stage, the growth stage, and “The Gold” stage. The grind stage lasts from the first to the fourth month, where you must ask yourself what product to sell. Ryan gives the example of Paul Miller, who was a successful businessman with insomnia. He used to listen to podcasts while sleeping, but headphones were uncomfortable. Paul realized that headphones could be made better, so he made Cozyphone headphones, which became a best-selling product on Amazon.

In the growth stage, which lasts from the fifth to the ninth month, you must focus on scaling up your business. Ryan’s third stage, “The Gold,” lasts from the tenth to the twelfth month. It’s the time when you must focus on hitting your $1 million goal. The book offers valuable insights into creating and selling multiple products, building a team, and scaling up a business.