Built Online Podcast - Episode 82: The Power of Perspective with Ryan Hogue
Host: Cody McGuffey
Guest: Ryan Hogue
Release Date: December 30, 2024
Sponsor: EverBee
Introduction to Ryan Hogue
The episode features Ryan Hogue, a seasoned e-commerce entrepreneur recognized for his success in Amazon FBA and Print on Demand ventures. Ryan shares his journey from a web developer to a prominent figure in the passive income space, providing invaluable insights for aspiring online business owners.
Personal Journey and Milestones
Engagement and Marriage
Ryan begins by sharing significant personal milestones that have shaped his life and business trajectory.
- Engagement and Wedding:
Ryan Hogue [00:30]: "I got engaged at the end of last year and ended up getting married in May of this year. We had a beach wedding in Destin, Florida, which was perfect with the white sand beaches and beautiful weather."
Educational and Professional Background
Ryan discusses his transition from education to his professional life.
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Academic Pursuits:
Ryan Hogue [05:33]: "I got a master's degree just because I didn't know what to do after I graduated. I ended up teaching at my alma mater for seven and a half years to make my degree pay off."
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Shift to Online Business:
Ryan Hogue [07:24]: "I pivoted to passive income, diving into Amazon FBA and Print on Demand, which has been incredibly successful for me."
Business Success and Strategy
Financial Achievements
Ryan highlights his impressive financial accomplishments, validated by external recognition.
- CNBC Recognition:
Ryan Hogue [07:46]: "Last year, I averaged about $49,000 a month in profit, as verified by a CNBC article."
Operational Excellence
Ryan emphasizes the importance of automation and efficient business practices.
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Automated Fulfillment:
Ryan Hogue [09:48]: "Automated fulfillment allows me to scale my business while maintaining a balance between my personal and professional life."
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Volume Over Bestseller Status:
Ryan Hogue [16:31]: "I'd rather play the volume game, ensuring steady income through multiple streams rather than chasing the number one bestseller spot."
Philosophy and Mindset
The Power of Perspective
Ryan delves into how mindset shapes success, advocating for a positive outlook and self-control.
- Positive vs. Negative Lens:
Ryan Hogue [00:00]: "You could live the same day through a positive lens or a negative lens and see it two completely different ways while doing the exact same thing."
Gamifying Life
Ryan shares his unique approach of treating life like a game to drive continuous improvement.
- From Gaming to Business:
Ryan Hogue [09:48]: "Gamifying life helped me bring the same passion and intensity from gaming into my business endeavors."
Abundance and Optionality
Ryan discusses the concept of creating abundance to achieve freedom and options in life.
- Creating Optionality:
Ryan Hogue [18:31]: "Creating optionality has always been important for me. It allows me the freedom to make choices that align with my values and goals."
Challenges and Growth
Balancing Automation and Human Elements
Ryan acknowledges the inevitable challenges that come with scaling a business and the need for human intervention.
- Limits of a One-Man Show:
Ryan Hogue [20:27]: "I reached my limits as a one-man show and recognize the need for employees or virtual assistants to continue scaling."
Continuous Learning and Adaptation
Ryan emphasizes the importance of ongoing education and adaptability in the ever-evolving e-commerce landscape.
- Investing in Knowledge:
Ryan Hogue [29:48]: "Studying how the world works and understanding the monetary system is crucial for long-term success."
Financial Management and Investment
Money as Time and Resource Allocation
Ryan redefines money as a means to buy time and allocate resources effectively.
- Money as Time:
Ryan Hogue [38:19]: "Money is time. When I pay someone, I'm buying their expertise and time, which frees me to focus on growing my business."
Investment Strategies
Ryan shares his investment philosophy, highlighting the importance of diversifying assets.
- Bitcoin and Asset Acquisition:
Ryan Hogue [33:00]: "I invest $1,000 a day in Bitcoin, which has tripled through dollar-cost averaging, and reinvest profits into appreciating assets like stocks."
Entrepreneurship and Personal Development
Encouraging Entrepreneurship for All
Ryan advocates for entrepreneurship as a path to personal and societal growth, regardless of its scale.
- Universal Entrepreneurial Potential:
Ryan Hogue [48:01]: "Everyone should be an entrepreneur. Whether it's a side hustle like a lemonade stand or a full-fledged business, entrepreneurship fosters creativity and innovation."
Overcoming Challenges and Imposter Syndrome
Ryan speaks candidly about the hurdles of entrepreneurship and the importance of self-belief.
- Persistence and Self-Belief:
Ryan Hogue [34:05]: "If I can do it, you can do it. Persistence and self-awareness are key to overcoming challenges and achieving success."
Notable Quotes
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On Perspective:
Ryan Hogue [00:00]: "You could live the same day through a positive lens or a negative lens and see it two completely different ways while doing the exact same thing."
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On Automation:
Ryan Hogue [15:48]: "I'd rather play the volume game and just know that I'll get there with time."
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On Optionality:
Ryan Hogue [18:31]: "Creating optionality has always been important for me. It allows me the freedom to make choices that align with my values and goals."
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On Money:
Ryan Hogue [38:19]: "Money is time. When I pay someone, I'm buying their expertise and time, which frees me to focus on growing my business."
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On Entrepreneurship:
Ryan Hogue [48:01]: "Everyone should be an entrepreneur. Whether it's a side hustle like a lemonade stand or a full-fledged business, entrepreneurship fosters creativity and innovation."
Rapid Fire Questions
To conclude the episode, Cody engages Ryan in a rapid-fire segment to uncover more personal insights.
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Favorite Business Book:
Ryan Hogue [44:31]: "I suck at reading. I don't have one."
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One Thing He Wishes to Know Before Starting:
Ryan Hogue [45:40]: "Guidance on how to manage money as your business scales—when to reinvest, hire employees, and purchase appreciating assets."
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Worst Business Advice Received:
Ryan Hogue [46:06]: "Considering selling my Amazon business for $22,000 when I could later generate much more profit by continuing to grow it."
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Hours Worked Per Week:
Ryan Hogue [46:44]: "No less than nine hours a day, totaling about 61 hours a week."
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Characterization by Friends and Family:
Ryan Hogue [47:05]: "Good worker, caring guy, good friend, and someone who can make others laugh. In the past, I struggled with anger management during gaming sessions."
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Should Everyone Be an Entrepreneur?
Ryan Hogue [48:01]: "Yes. Entrepreneurship fosters self-actualization, creativity, and the ability to make a positive impact. It doesn't have to be on a grand scale; even small ventures like a lemonade stand qualify."
Closing Remarks and Resources
Final Thoughts on Entrepreneurship and Personal Growth
Cody and Ryan emphasize the importance of continuous learning, intentionality, and the willingness to adapt for sustained success.
Where to Find Ryan Hogue:
- YouTube: Ryan Hogue, Passive Income
- Email: ryanhoe.com
Call to Action:
Listeners are encouraged to connect with Ryan through his YouTube channel and email to gain further insights into his strategies and journey.
Key Takeaways
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Mindset Matters:
Adopting a positive perspective and treating life as a game can drive both personal and professional success. -
Automation is Crucial:
Implementing automated systems in your business allows for scalability and frees up time for strategic growth. -
Financial Literacy:
Understanding and managing money effectively, including investing in appreciating assets, is vital for long-term wealth accumulation. -
Entrepreneurship for All:
Encouraging an entrepreneurial mindset, even in small ventures, can foster creativity, innovation, and economic growth. -
Continuous Improvement:
Embracing ongoing learning and adaptability are essential for navigating the dynamic landscape of online business.
Tune in to Built Online Podcast for more inspiring conversations and actionable strategies to grow your e-commerce and online business.