In this week’s episode of Freedom Fast Lane, Ryan Daniel Moran makes his 2015 predictions. Based on the trends he is seeing in business and the economy, Ryan discusses information products, the app business, Amazon, and nootropics, as well as intentional communities. If you are an entrepreneur and want insight into how you can stay ahead of the curve in 2015, then this is a must-listen podcast for you!
Key Lessons Learned:
2014 Wrap Up
- Many people became Amazon entrepreneurs.
- The Internet marketplace ran away from the old way of doing things.
- We no longer hear much about marketing on Google and Facebook.
- The conversation has shifted to long-term businesses and physical products.
Amazon and Consolidation
- In the past, Ryan predicted there is was a major market consolidation coming for Amazon businesses.
- Every time there is a big wave of products and services into a channel there is a consolidation.
- September of 2015 will mark the end point of which it is easy to build a business specifically on Amazon.
- Once saturation points hits on Amazon, consolidation will start and push out the ‘little guys.’
- The consolidation doesn’t mean you can’t start a new business, it simply means it will be a lot harder.
- If you want to start a new business, you need to be prepared to spend more on marketing and have new products.
A New Spin for Amazon Products
- The conversation will change from, “What products can I have on Amazon?” to “What businesses can I launch all at once?”
- In order to complete, people are going to have to release entire businesses rather than just one product.
- Instead of people asking, “What product is already selling right now that I can release to the market place?” they will ask, “What can I invent, or what new spin on something can I create?”
- Entrepreneurs will need to think more creatively about the products they release if they are going to use a channel such as Amazon.
- An example of a ‘new spin’ product is The Go Pro, which is a variation on an old product (the camera).
Physical Products Outside of Amazon
- The focus for new business in 2015 will be to search for new channels outside of Amazon.
- People selling on Amazon are wondering what the next stage is after Amazon.
- Product sellers on Amazon will need to master sales funnels.
- Entrepreneurs will learn the skills that worked 5 years ago, such as email marketing.
- If there is a big product launch in 2015, it will be focuses on how to have your products sell in other channels such as retail, how to have funnels that promote your products, and what are new ways to promote your business rather than placing it on an existing channel and let it sell.
- Email marketing isn’t being heavily used to promote physical products.
- Most physical product entrepreneurs are ‘new entrepreneurs’ and not skilled in how the Internet worked 5-10 years ago.
- The ‘new strategies’ that have been lost in the last few years, thanks to a change in the marketing place, will make a comeback.
- Funnels with product sales and up-selling are currently being underused in all industries.
Amazon and Innovation
- Amazon is going to have to come up with some new way to innovate in a new area.
- 3D printing could be a direction they will go in. A customer could buy online, download the blueprint, and print on their 3D printer.
- The trend may not be fast enough for 2015, however, it is one to watch.
- The industry that will explode in 2015 is the app business.
- Everyone is looking for the next ‘channel’ and ‘opportunity.’
- Apps have not yet reached critical mass and will be easy to dominate.
Return of Information Products
- Creating information products to be sold on the Internet will be back in 2015.
- After saturation, this industry purged ‘junk’ (consolidation) and as a result faded.
- Because of the changes, there has been a reduction of the business in this industry.
- The information product industry is now open for an injection of ‘new blood.’
- Information products have a cost of almost zero and a profit margin of around 98%, so if you sell a $100 product you will make $98.
- This will look cool again due to the comparison of the physical products industry, where there are built in costs of goods sold and a higher barrier to entry.
Brain Hacking & Nootropics
- ‘Eating for productivity’ will become more popular in 2015.
- The FDA may finally get involved with nootropics.
- Bigger companies will start to capitalize on this trend, and as a result nootropics will get pushed into the main stream.
- Consumers will take them outside of the brain hacking circuit as they move into the main stream.
Legitimization of Alternative Medicine
- 2015 will see mainstream medicine adopt ‘alternative ideas’.
- This has been happening for a decade and will continue to get stronger.
Focus on Intentional Communities
- We are more connected yet lonelier than we have ever been, and as a result intentional communities are starting to become more popular.
- Things like monogamy and long-life marriage are starting to fade as a trend.
- Since we are disconnected, we put all of our emphasis on one person to complete us and people start filling in the gaps in other ways.
Economics and Politics
- There is no clear successor on either side when it comes to politics, so there will be a scrambling for leadership.
- Republicans will initially a run to the right, however, that will not last.
- Once Hilary Clinton announces her candidacy, Republicans will come back to the center right (rather than far right).
- Jeb Bush will be put up, however, this will not work and Hilary Clinton will win in 2016.
- In 2015, politicians will cut back on negative campaigns and ‘play nice.’ Once a candidate comes out with a ‘positive’ spin on things, other politicians will do the same.
- The economy will be flat in 2015. A recession is a necessary aspect of a growing economy, but it may wait until 2016.
- We will start to enter a bearish market in 2015, and the Dow (currently over 18,000) will not be as high at the end of 2015.
Ryan’s Baseball Predictions
- AL East – Boston Red Sox
- AL Central – Detroit Tigers
- AL West – L.A. Angels
- Wildcard – Cleveland, New York, Toronto (Cleveland & New York)
- NL East – Washington
- Central – St. Louis
- West – Dodgers
- Wildcard – San Diego and Milwaukee
- Playoffs – World series The Angels, L.A. Dodgers (Dodgers to win)
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Links to Resources Mentioned
2 click to tweet links (clicktotweet.com)