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Capitalism.com with Ryan Daniel Moran

"We Bought A 6-Figure Business - How Do We Take It To 7?"

Capitalism.com with Ryan Daniel Moran

Capitalism.com

Business, Entrepreneurship

4.8802 Ratings

🗓️ 15 May 2020

⏱️ 64 minutes

🧾️ Download transcript

Summary

Ethan and Garron are two brothers who acquired a small 6-figure business.

But they are hitting some roadblocks on their journey to scale the business.

Capitalism.com founder Ryan Daniel Moran steps in to help them troubleshoot what is keeping this business from quickly turning into a million dollar brand.

Order the new book 12 Months To $1 Million today at
www.Capitalism.com/Book

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, friends and neighbors, Ryan Daniel Moran here. Welcome to Capitalism.com.

0:08.7

Today I'm going to be joined by two of our community members, Ethan and Garen, who recently purchased a

0:16.0

business. Inside of the 1% we have some trainings in there about acquiring businesses and Ethan and Garen went out

0:22.7

and bought a business that they thought had a lot of opportunity. And it's a really fun story about

0:28.3

both how they got to this point and how they acquired the business. But a brief context is that

0:33.8

these two brothers started a few e-commerce businesses,

0:37.6

both of which were sold.

0:39.8

And so they had some capital to play with

0:41.4

and they were looking for their next opportunity.

0:43.5

And then this new acquisition popped up on the radar

0:47.0

after having some conversations.

0:49.3

And that those conversations led to them acquiring

0:52.7

a business that has been featured on Shark Tank,

0:54.9

but has been neglected across the board in terms of marketing and customer acquisition.

0:59.8

And so in this conversation, Ethan and Garin Alexander just share with me their vision for the brand and the business,

1:06.7

and I'm going to advise them on what I think their best opportunities are.

1:12.1

So this is really fun to take a look at where a business is performing and see how we can

1:18.1

make it a lot better.

1:19.2

And as you're going to discover throughout this interview, this business isn't performing

1:23.3

all that well in terms of profitability, but it's got a lot of other assets that make it really

1:30.1

exciting. So this business has a lot of potential to be restored to its previous glory and also go

1:37.1

far beyond what it's done at its previous peak. So I'm going to go through my recommendations

...

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