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Amazon FBA (EXPLAINED) For Beginners - Is It Worth Starting 2022?

Published on: December 2 2022 by Tatiana James

Amazon FBA (EXPLAINED) For Beginners - Is It Worth Starting 2022?

The above is a brief introduction to Amazon FBA (EXPLAINED) For Beginners - Is It Worth Starting 2022?.

Let's move on to the first section of Amazon FBA (EXPLAINED) For Beginners - Is It Worth Starting 2022?!

Amazon FBA (EXPLAINED) For Beginners - Is It Worth Starting 2022?

startTime durationTime text
00:00:00 00:00:04 hey everyone i'm tatiana and today i'm
00:00:02 00:00:07 going to be clearly explaining what
00:00:04 00:00:09 amazon fba is and why it seems like so
00:00:07 00:00:12 many people are becoming overnight
00:00:09 00:00:14 millionaires by selling products on
00:00:12 00:00:16 amazon today's video will be beginner
00:00:14 00:00:19 friendly if you're not a beginner this
00:00:16 00:00:20 could still be a great refresher i'm
00:00:19 00:00:23 going to be sharing with you the overall
00:00:20 00:00:26 process of selling on amazon the pros
00:00:23 00:00:28 and cons of private labeling
00:00:26 00:00:30 how much money you are actually likely
00:00:28 00:00:31 and realistikally to make with an amazon
00:00:30 00:00:32 business
00:00:31 00:00:34 and i'm going to try and help provide
00:00:32 00:00:37 you with some clarity on whether or not
00:00:34 00:00:38 this business might be the right fit for
00:00:37 00:00:40 you
00:00:38 00:00:41 so before we get started just some
00:00:40 00:00:44 background on myself
00:00:41 00:00:47 i started selling on amazon back in 2014
00:00:44 00:00:49 i sold multiple products eventually
00:00:47 00:00:52 starting a brand and i sold that on
00:00:49 00:00:54 amazon and then i also started selling
00:00:52 00:00:56 on my own website within four years of
00:00:54 00:00:59 starting an online business i was able
00:00:56 00:01:01 to become a millionaire thanks to the
00:00:59 00:01:04 brand that i built and just last year i
00:01:01 00:01:05 was able to sell that brand for seven
00:01:04 00:01:06 figures
00:01:05 00:01:08 so i've been i've had a lot of
00:01:06 00:01:11 experience selling on amazon but also
00:01:08 00:01:14 just working with other people who have
00:01:11 00:01:16 been amazon sellers
00:01:14 00:01:17 right now i do not offer any kind of
00:01:16 00:01:19 coaching
00:01:17 00:01:22 you cannot pay me for my time
00:01:19 00:01:25 and i also don't have a course
00:01:22 00:01:27 of mine that i'm going to be selling you
00:01:25 00:01:29 so relax i'm just going to be sharing
00:01:27 00:01:33 with you some information
00:01:29 00:01:35 all right so amazon was founded in 1994
00:01:33 00:01:37 by jeff bezos and it started off as an
00:01:35 00:01:41 online bookstore
00:01:37 00:01:44 it's now a multi-national conglomerate
00:01:41 00:01:46 which focuses on e-commerce cloud
00:01:44 00:01:49 computing digital streaming and
00:01:46 00:01:51 artificial intelligence
00:01:49 00:01:53 it's one of the five largest companies
00:01:51 00:01:56 in the entire world
00:01:53 00:01:58 and it's been known as one of the most
00:01:56 00:02:00 influential
00:01:58 00:02:04 economic and cultural forces in the
00:02:00 00:02:06 world as well as the world's most
00:02:04 00:02:09 powerful brand
00:02:06 00:02:12 so amazon has grown exponentially year
00:02:09 00:02:14 after year um they're no longer just a
00:02:12 00:02:17 bookstore they're no longer just
00:02:14 00:02:19 e-commerce they are uh you know planning
00:02:17 00:02:21 for world domination
00:02:19 00:02:23 so it's it's uh it's pretty it's pretty
00:02:21 00:02:24 impressive and
00:02:23 00:02:26 and that's why it's such a great
00:02:24 00:02:29 opportunity
00:02:26 00:02:30 because amazon you and i know amazon
00:02:29 00:02:33 pretty much everyone knows amazon's
00:02:30 00:02:35 brand name but for the most part we're
00:02:33 00:02:38 just customers up on amazon we buy
00:02:35 00:02:41 products on amazon's website
00:02:38 00:02:45 and the opportunity of this is that they
00:02:41 00:02:48 have grown their customer base so much
00:02:45 00:02:50 they have so many customers who like
00:02:48 00:02:53 know and trust amazon
00:02:50 00:02:55 and they allow for third-party sellers
00:02:53 00:02:58 to sell on their platform
00:02:55 00:02:59 so out of all the products available
00:02:58 00:03:01 that amazon
00:02:59 00:03:03 has in when you go to their website
00:03:01 00:03:06 there's a percentage of those product
00:03:03 00:03:08 that amazon itself is selling
00:03:06 00:03:11 but actually a larger percentage of
00:03:08 00:03:13 products available on their website are
00:03:11 00:03:16 sold by third-party sellers and these
00:03:13 00:03:18 are people like myself and potentially
00:03:16 00:03:20 yourself people who
00:03:18 00:03:24 want to sell products and use their
00:03:20 00:03:26 platform and so amazon allows us to use
00:03:24 00:03:29 their platform to sell our products and
00:03:26 00:03:32 the opportunity here
00:03:29 00:03:34 is that we get access to their customers
00:03:32 00:03:36 so it's you can't
00:03:34 00:03:38 you have to wrap your mind around how
00:03:36 00:03:40 valuable that is you know they have
00:03:38 00:03:43 millions of customers they have people
00:03:40 00:03:46 who have memberships prime memberships
00:03:43 00:03:50 one click buy now and you now get
00:03:46 00:03:52 access and reach to those customers so
00:03:50 00:03:55 the opportunity is that when you launch
00:03:52 00:03:58 a brand on amazon the exposure that you
00:03:55 00:04:02 get by being partnered with them
00:03:58 00:04:04 is incredibly valuable for your brand
00:04:02 00:04:05 so um that's what it means to be a
00:04:04 00:04:08 third-party seller now i'm going to
00:04:05 00:04:10 explain the process of private labeling
00:04:08 00:04:12 um give you an overview here
00:04:10 00:04:14 so let's say that you decide to sell a
00:04:12 00:04:16 product on amazon and i'm not going to
00:04:14 00:04:19 go into too many details i'll link some
00:04:16 00:04:21 videos down below that will help you
00:04:19 00:04:23 but you know when you decide to sell a
00:04:21 00:04:24 product on amazon you're not just saying
00:04:23 00:04:26 hey i want to sell a water bottle
00:04:24 00:04:28 because i like water bottles you're
00:04:26 00:04:30 actually going to be doing market
00:04:28 00:04:32 research you're going to the amazon
00:04:30 00:04:35 platform you're seeing what the
00:04:32 00:04:37 customers want what the customers are
00:04:35 00:04:39 already buying you're just seeing what
00:04:37 00:04:41 works and then you're determining
00:04:39 00:04:42 whether or not you should sell the
00:04:41 00:04:44 product that's already been sold on
00:04:42 00:04:45 amazon
00:04:44 00:04:47 private labeling you're not doing
00:04:45 00:04:49 anything new you're not inventing
00:04:47 00:04:51 anything here
00:04:49 00:04:53 you're simply looking at what works and
00:04:51 00:04:55 taking your little spin on it and then
00:04:53 00:04:57 you're selling the same thing
00:04:55 00:05:00 so let's just say that you decide that
00:04:57 00:05:01 you want to sell a pillowcase on amazon
00:05:00 00:05:05 then you're going to go and you're going
00:05:01 00:05:06 to look for manufacturers or suppliers
00:05:05 00:05:08 you will look for those manufacturers
00:05:06 00:05:10 wherever you wish
00:05:08 00:05:14 you can find them locally you can find
00:05:10 00:05:16 them overseas um but
00:05:14 00:05:19 most private label sellers they actually
00:05:16 00:05:21 source from china over 70 percent of
00:05:19 00:05:24 private label sellers are sourcing from
00:05:21 00:05:26 china so it's really just up to you and
00:05:24 00:05:28 oftentimes you want to see where you can
00:05:26 00:05:30 get the best price but you might have
00:05:28 00:05:31 some other things that are going to help
00:05:30 00:05:33 you make your decision on where you
00:05:31 00:05:35 source from nonetheless you find a
00:05:33 00:05:37 manufacturer
00:05:35 00:05:39 and you there the manufacturer is going
00:05:37 00:05:41 to already be producing those
00:05:39 00:05:42 pillowcases you're not asking them to
00:05:41 00:05:44 create something that they've never
00:05:42 00:05:46 created before you're finding them
00:05:44 00:05:48 because they're already producing the
00:05:46 00:05:51 same pillowcases that are selling on
00:05:48 00:05:53 amazon and then you place your order
00:05:51 00:05:56 with them you slap your brand name on
00:05:53 00:05:59 the product packaging and then you ship
00:05:56 00:06:02 it to amazon's warehouses
00:05:59 00:06:04 so the beauty of this is that it's a
00:06:02 00:06:06 very hands-off process you just do it
00:06:04 00:06:08 all from your computer you don't ever
00:06:06 00:06:10 need to receive your inventory at your
00:06:08 00:06:12 house you can just ship it directly to
00:06:10 00:06:13 the amazon warehouses
00:06:12 00:06:15 and
00:06:13 00:06:18 it's it's pretty simple it's a simple
00:06:15 00:06:20 process but there are many steps
00:06:18 00:06:23 involved and that's why you want to make
00:06:20 00:06:25 sure that you educate yourself to avoid
00:06:23 00:06:27 making certain costly or time-consuming
00:06:25 00:06:29 mistakes
00:06:27 00:06:32 so that's the general process the
00:06:29 00:06:35 general idea of selling on amazon
00:06:32 00:06:37 however you know nowadays you're not
00:06:35 00:06:38 just going and looking for a product and
00:06:37 00:06:40 selling the same thing that everyone
00:06:38 00:06:42 else is selling what you're really
00:06:40 00:06:44 looking for is how can i improve this
00:06:42 00:06:46 product i can't just sell what everyone
00:06:44 00:06:49 else is selling it's not going to give
00:06:46 00:06:51 me any competitive edge i have to find a
00:06:49 00:06:53 way that i can add more value i
00:06:51 00:06:56 differentiate myself
00:06:53 00:06:58 stand out from the other sellers on on
00:06:56 00:07:00 the amazon platform and so when you're
00:06:58 00:07:02 picking a product you're really trying
00:07:00 00:07:04 to think about that strategize that
00:07:02 00:07:06 before you decide on a product to sell
00:07:04 00:07:08 and if there are certain products where
00:07:06 00:07:10 you might see there's a lot of room for
00:07:08 00:07:12 improvement there's a lot more that you
00:07:10 00:07:14 can do more value that you can add
00:07:12 00:07:17 and that's how you really build a
00:07:14 00:07:18 successful brand all right so now what
00:07:17 00:07:20 i'm going to do is i'm just going to hop
00:07:18 00:07:22 on my computer to just give you a quick
00:07:20 00:07:24 screen share and show you what that
00:07:22 00:07:26 process might look like all right so i'm
00:07:24 00:07:29 here on the amazon website and let's
00:07:26 00:07:32 just say that i want to
00:07:29 00:07:34 sell a silk pillowcase for some reason i
00:07:32 00:07:36 determined that this is a great product
00:07:34 00:07:38 opportunity i've done my product
00:07:36 00:07:41 research and i say i'm going to sell my
00:07:38 00:07:43 own silk pillowcase so as you can see
00:07:41 00:07:45 here there are many different people
00:07:43 00:07:46 selling what appears to be a very
00:07:45 00:07:48 similar product
00:07:46 00:07:51 maybe all of these people are sourcing
00:07:48 00:07:53 from the same manufacturer it's possible
00:07:51 00:07:55 that's what private labeling means they
00:07:53 00:07:58 might have different packaging but the
00:07:55 00:08:00 source the manufacturer may be the same
00:07:58 00:08:03 so then what i could do is i could go to
00:08:00 00:08:05 a place like alibaba.com
00:08:03 00:08:07 this is a a marketplace where you can
00:08:05 00:08:09 find manufacturers most of the
00:08:07 00:08:11 manufacturers
00:08:09 00:08:13 here are going to be in asia and i can
00:08:11 00:08:15 type in silk pillowcase
00:08:13 00:08:17 and this is where i could find
00:08:15 00:08:20 manufacturer to work with
00:08:17 00:08:22 so if i want to say source you know if i
00:08:20 00:08:24 determine okay this one's selling really
00:08:22 00:08:26 well and i want to i want to sell
00:08:24 00:08:29 something like this or maybe instead i
00:08:26 00:08:30 want to do a silk pillowcase and eye
00:08:29 00:08:32 mask set
00:08:30 00:08:34 maybe i want to stand out a little bit
00:08:32 00:08:36 more create some sort of a gift package
00:08:34 00:08:38 that's really great for gifting for
00:08:36 00:08:40 christmas something like this
00:08:38 00:08:42 um so i said okay well this is kind of
00:08:40 00:08:43 the product i want to sell
00:08:42 00:08:45 they actually do have really great
00:08:43 00:08:46 pictures
00:08:45 00:08:49 and so i'm going to find a manufacturer
00:08:46 00:08:52 who is kind of like that
00:08:49 00:08:54 so i'm going to go silk pillowcase
00:08:52 00:08:56 set
00:08:54 00:08:58 and
00:08:56 00:09:00 you can see here
00:08:58 00:09:01 oh there we go that looks similar
00:09:00 00:09:03 doesn't it
00:09:01 00:09:04 that looks pretty similar so i could
00:09:03 00:09:06 click on this
00:09:04 00:09:08 and of course you're going to try and
00:09:06 00:09:10 you know do a lot of research here but
00:09:08 00:09:12 here i can see that this is a product
00:09:10 00:09:14 this is a manufacturer that's already
00:09:12 00:09:16 producing this product it includes the
00:09:14 00:09:18 eye mask the pillowcase and even some
00:09:16 00:09:21 hair ties and i could put my own
00:09:18 00:09:23 branding over there on the box
00:09:21 00:09:26 this is what it looks like
00:09:23 00:09:28 comes in different colors great
00:09:26 00:09:30 um here i can see that if i order
00:09:28 00:09:35 between two and 49 pieces i would be
00:09:30 00:09:36 paying 9.90 a piece if i order over 500
00:09:35 00:09:38 pieces i'd be paying eight dollars and
00:09:36 00:09:40 fifty cents a piece well i'm gonna have
00:09:38 00:09:42 to do some math to see um you know
00:09:40 00:09:44 what's the profit margin if i could sell
00:09:42 00:09:46 this potentially at sixty five dollars
00:09:44 00:09:49 sixty six dollars and if it cost me
00:09:46 00:09:51 eight dollars and fifty cents a piece
00:09:49 00:09:52 am i going to be making a profit margin
00:09:51 00:09:54 there's other things that i have to
00:09:52 00:09:56 factor in here but that's the general
00:09:54 00:09:58 idea and then what i would do is i would
00:09:56 00:10:01 contact the supplier maybe ask for some
00:09:58 00:10:03 more information and then i could place
00:10:01 00:10:06 an order and i could get some my
00:10:03 00:10:08 branding my logo my packaging done with
00:10:06 00:10:11 a graphics designer and then my supplier
00:10:08 00:10:14 would put that on the box for me and
00:10:11 00:10:16 then pretty soon it will look like this
00:10:14 00:10:18 and i could just ship it to amazon and
00:10:16 00:10:21 then i create my own amazon listing and
00:10:18 00:10:24 start selling on amazon
00:10:21 00:10:26 so really it's uh quite simple and the
00:10:24 00:10:28 process it does take long um because you
00:10:26 00:10:31 are waiting around for your manufacturer
00:10:28 00:10:32 to produce the products
00:10:31 00:10:34 you're going to probably want to get
00:10:32 00:10:36 some samples so i like to narrow down
00:10:34 00:10:38 the list contact you know a lot of
00:10:36 00:10:39 manufacturers and then narrow down the
00:10:38 00:10:41 list to maybe the top three
00:10:39 00:10:43 manufacturers that you contact and
00:10:41 00:10:45 request samples from them because it's
00:10:43 00:10:48 very important that you actually hold
00:10:45 00:10:50 the product yourself you analyze it you
00:10:48 00:10:53 determine whether or not this product is
00:10:50 00:10:55 of high quality because
00:10:53 00:10:58 your goal with building a brand is to
00:10:55 00:11:01 have the highest quality product um you
00:10:58 00:11:03 want to lead with that that's how you
00:11:01 00:11:06 build a brand that's how you get
00:11:03 00:11:07 positive reviews positive feedback so
00:11:06 00:11:10 you want to make sure that you get those
00:11:07 00:11:11 samples and then compare them and and
00:11:10 00:11:13 then that's you decide on which
00:11:11 00:11:15 manufacturer to go with so again this
00:11:13 00:11:17 manufacturer they've already been
00:11:15 00:11:19 producing the silk eye mask
00:11:17 00:11:21 this is the manufacturer they have their
00:11:19 00:11:23 own store you can see what other
00:11:21 00:11:25 products they sell
00:11:23 00:11:26 it sounds like this is their main
00:11:25 00:11:27 product
00:11:26 00:11:29 and they have a variety of different
00:11:27 00:11:30 things they've got the scrunchies
00:11:29 00:11:33 they've got the eye mask sold separately
00:11:30 00:11:34 they've got silk robes so it's actually
00:11:33 00:11:36 cool to check out their store as well
00:11:34 00:11:38 because it gives you ideas on different
00:11:36 00:11:40 products that you could source from the
00:11:38 00:11:43 same manufacturer and build out your
00:11:40 00:11:44 product line with time so with time i
00:11:43 00:11:48 could sell this
00:11:44 00:11:50 hair thing on amazon silk hair bonnet i
00:11:48 00:11:52 could sell the robe i could sell the
00:11:50 00:11:54 scrunchies individually maybe the eye
00:11:52 00:11:57 mask individually and so that's how you
00:11:54 00:11:59 really build a brand and expand your
00:11:57 00:12:01 product line um so it's great to work
00:11:59 00:12:03 with a manufacturer that has a lot of
00:12:01 00:12:05 different products
00:12:03 00:12:07 that could that could meet the criteria
00:12:05 00:12:08 for the brand that you want to build all
00:12:07 00:12:11 right so let's tok about some of the
00:12:08 00:12:13 pros and the cons of this business model
00:12:11 00:12:15 well i would say that the most the
00:12:13 00:12:17 biggest one is that you get to become
00:12:15 00:12:20 your own boss this is the path of
00:12:17 00:12:22 entrepreneurship i think it's one of the
00:12:20 00:12:24 easiest ways to step into
00:12:22 00:12:27 entrepreneurship it's easier than
00:12:24 00:12:28 building almost any other business i can
00:12:27 00:12:30 think of
00:12:28 00:12:32 doesn't mean it's going to be easy it's
00:12:30 00:12:34 just easier than a lot of the other
00:12:32 00:12:36 options i mean just think about building
00:12:34 00:12:38 uh you know starting a brick and mortar
00:12:36 00:12:41 store or retail shop
00:12:38 00:12:42 the logistiks of all of that the expense
00:12:41 00:12:43 of that
00:12:42 00:12:44 all of the things that you have to
00:12:43 00:12:46 manage
00:12:44 00:12:48 having employees you know that's it's a
00:12:46 00:12:51 lot more challenging this is you know
00:12:48 00:12:54 this can be a one-man one-woman show you
00:12:51 00:12:56 started on the side a couple hours a day
00:12:54 00:12:58 you invest in it and it can really grow
00:12:56 00:13:00 into something amazing
00:12:58 00:13:03 so for me being my own boss has been one
00:13:00 00:13:05 of the best decisions of my life
00:13:03 00:13:08 and that leads me to the second one
00:13:05 00:13:09 flexibility to work anywhere and to
00:13:08 00:13:10 travel
00:13:09 00:13:13 for me it was one of the biggest
00:13:10 00:13:15 motivators in starting an online
00:13:13 00:13:17 business i didn't just stumble into
00:13:15 00:13:20 building an online business i was
00:13:17 00:13:20 intentional i was actually in university
00:13:20 00:13:22 and
00:13:20 00:13:24 i just kind of looked at my life and i
00:13:22 00:13:25 said okay well what happens if i
00:13:24 00:13:28 graduate
00:13:25 00:13:31 get my degree and manage to get my dream
00:13:28 00:13:33 job you know what would my life look
00:13:31 00:13:34 like and i realized that the vision i
00:13:33 00:13:36 had for my life
00:13:34 00:13:38 i wouldn't be able to create that even
00:13:36 00:13:41 if i got my dream job because i would
00:13:38 00:13:43 just be very limited
00:13:41 00:13:46 with an online business you have the
00:13:43 00:13:49 flexibility to work from anywhere work
00:13:46 00:13:51 from home work from portugal work from
00:13:49 00:13:53 your backyard
00:13:51 00:13:54 you you know that's that's the beauty of
00:13:53 00:13:56 it
00:13:54 00:13:58 and i also really wanted to travel not
00:13:56 00:14:00 everyone loves to travel i traveled for
00:13:58 00:14:03 the last three years
00:14:00 00:14:06 i built my business it grew incredibly
00:14:03 00:14:08 well year after year after year even you
00:14:06 00:14:11 know when last i think it was the year
00:14:08 00:14:14 before last year i went to 18 different
00:14:11 00:14:16 countries and in spite of all the travel
00:14:14 00:14:18 and adventure and fun that i was able to
00:14:16 00:14:22 enjoy my business still grew
00:14:18 00:14:24 exponentially so it is a huge a blessing
00:14:22 00:14:27 another thing is it's just a great way
00:14:24 00:14:28 to earn extra income so even if you
00:14:27 00:14:30 don't want to quit your job you love
00:14:28 00:14:32 your job and you say i would just like
00:14:30 00:14:34 to have a little bit of extra cash a
00:14:32 00:14:36 little bit of wiggle room every month a
00:14:34 00:14:38 little bit of pocket money you know it's
00:14:36 00:14:40 not hard to make a thousand two thousand
00:14:38 00:14:43 profit a month with your amazon business
00:14:40 00:14:45 it's very realistik
00:14:43 00:14:48 it's also a great personal challenge so
00:14:45 00:14:49 you know building an online business is
00:14:48 00:14:52 usually not
00:14:49 00:14:54 easy for most people because most people
00:14:52 00:14:57 weren't we don't have any online skills
00:14:54 00:14:59 we have to learn a lot of stuff
00:14:57 00:15:01 many skills
00:14:59 00:15:03 to start building an online business and
00:15:01 00:15:04 that's cool it's a great personal
00:15:03 00:15:07 challenge some people feel very
00:15:04 00:15:09 intimidated by it but by myself
00:15:07 00:15:12 personally because i value growth so
00:15:09 00:15:13 much i actually really enjoy it you know
00:15:12 00:15:15 if there's something i don't know how to
00:15:13 00:15:17 do i see it as like this is a challenge
00:15:15 00:15:19 i get to challenge myself see what i'm
00:15:17 00:15:21 made of and then that way i feel really
00:15:19 00:15:23 proud when i do learn how to do
00:15:21 00:15:25 something and i do it really well and i
00:15:23 00:15:27 feel proud of myself that's how you
00:15:25 00:15:28 build a track record for yourself and
00:15:27 00:15:30 that's how you actually build
00:15:28 00:15:32 self-confidence because then you can
00:15:30 00:15:33 reflect back on all the things that you
00:15:32 00:15:35 once didn't know how to do the things
00:15:33 00:15:37 that you once couldn't do and that you
00:15:35 00:15:39 figured out how to do that you created
00:15:37 00:15:41 success and you build your your
00:15:39 00:15:44 self-confidence in that way
00:15:41 00:15:46 um i would also say that uh you know
00:15:44 00:15:48 again the benefit is that with this
00:15:46 00:15:51 model you don't have to quit your job to
00:15:48 00:15:53 start this business it is it starts as a
00:15:51 00:15:55 side hustle later it can grow into a
00:15:53 00:15:57 full-time gig but you do not need to
00:15:55 00:15:58 quit your job and i wouldn't encourage
00:15:57 00:16:00 you to quit your job your job is
00:15:58 00:16:02 supporting you it's supporting your
00:16:00 00:16:04 family it's supporting your lifestyle
00:16:02 00:16:06 this business only requires maybe a
00:16:04 00:16:09 couple hours a day when you're first
00:16:06 00:16:11 getting started there's not really a ton
00:16:09 00:16:13 for you to do
00:16:11 00:16:16 as your business starts growing um then
00:16:13 00:16:18 there will be more that you can do but
00:16:16 00:16:20 especially in the beginning investing a
00:16:18 00:16:24 couple hours a day is more than enough
00:16:20 00:16:26 to really get the ball moving with this
00:16:24 00:16:28 and so this is feasible for most people
00:16:26 00:16:29 whether it's a couple hours before you
00:16:28 00:16:31 go to work or a couple hours before you
00:16:29 00:16:33 go to bed
00:16:31 00:16:35 now you can also
00:16:33 00:16:37 also the benefit of this business model
00:16:35 00:16:40 is that you can become an entrepreneur
00:16:37 00:16:42 you can start a business without any
00:16:40 00:16:44 formal education so it's a very low
00:16:42 00:16:47 barrier of entry that's why i like to
00:16:44 00:16:49 share this proclaim it from the rooftops
00:16:47 00:16:51 because it's something that almost
00:16:49 00:16:54 anyone can start
00:16:51 00:16:55 you don't need any level of education
00:16:54 00:16:58 you don't any you don't even need any
00:16:55 00:17:00 specific skills of course if you have
00:16:58 00:17:02 certain skills on the computer that's
00:17:00 00:17:04 only going to benefit you but there's
00:17:02 00:17:06 nothing that you can't learn
00:17:04 00:17:08 in a short period of time when it comes
00:17:06 00:17:09 to this business model you can earn
00:17:08 00:17:12 money while you sleep
00:17:09 00:17:14 that's always a very exciting concept
00:17:12 00:17:16 prior to starting my business i couldn't
00:17:14 00:17:19 imagine how the heck would i earn money
00:17:16 00:17:22 if i'm sleeping i have to trade my time
00:17:19 00:17:24 for my paycheck i have to trade my time
00:17:22 00:17:26 for money the concept of passive income
00:17:24 00:17:29 was very foreign to me
00:17:26 00:17:30 now i'm not saying that this business is
00:17:29 00:17:33 passive
00:17:30 00:17:35 but it is going to be more passive than
00:17:33 00:17:38 your nine-to-five job nine-to-five job
00:17:35 00:17:41 you have to show up to earn your
00:17:38 00:17:43 paycheck with this you are investing
00:17:41 00:17:46 your time you're investing your
00:17:43 00:17:48 resources up front without any
00:17:46 00:17:51 guarantees of a paycheck in the future
00:17:48 00:17:53 but what you do is you establish the
00:17:51 00:17:56 foundation you set up the systems in
00:17:53 00:17:58 your business and eventually this is the
00:17:56 00:18:01 business can actually operate without
00:17:58 00:18:03 you so it actually can become a fairly
00:18:01 00:18:05 passive business and anyone who's doing
00:18:03 00:18:08 this business model correctly will
00:18:05 00:18:10 realize that it can consume you if you
00:18:08 00:18:12 don't know how to set up business and
00:18:10 00:18:14 systems in your business
00:18:12 00:18:15 but there's absolutely a way that you
00:18:14 00:18:17 can
00:18:15 00:18:19 eventually remove yourself from the
00:18:17 00:18:22 business and just kind of check in on it
00:18:19 00:18:24 once a week an hour two hours but you
00:18:22 00:18:26 have a team of people who are kind of
00:18:24 00:18:28 helping you with the business so that
00:18:26 00:18:30 you can now focus on other businesses
00:18:28 00:18:32 maybe you build a different stream of
00:18:30 00:18:34 income for yourself or maybe you build
00:18:32 00:18:36 another amazon business sell
00:18:34 00:18:38 launch a new product or you just decide
00:18:36 00:18:40 that well screw it i want to have
00:18:38 00:18:43 financial freedom so i can enjoy my life
00:18:40 00:18:45 and hang out with my kids more and go on
00:18:43 00:18:48 walks with my dog and that's what i want
00:18:45 00:18:49 to do with my time instead so um it's
00:18:48 00:18:51 really cool that you know
00:18:49 00:18:53 where was i going with this
00:18:51 00:18:56 you can earn money while you sleep so
00:18:53 00:18:59 you are you know your products are
00:18:56 00:19:01 available on amazon 24 7. so even if
00:18:59 00:19:03 you're in bed at 10 p.m someone else is
00:19:01 00:19:05 shopping at one in the morning and they
00:19:03 00:19:07 can buy your product and you wake up and
00:19:05 00:19:09 you have a sale or someone in a
00:19:07 00:19:12 different time zone is buying your
00:19:09 00:19:14 product so it's really interesting and
00:19:12 00:19:17 it it's very eye-opening to
00:19:14 00:19:18 experience that for the first time now
00:19:17 00:19:21 you can also sell in different
00:19:18 00:19:22 marketplaces across the world and so
00:19:21 00:19:24 that's what makes it
00:19:22 00:19:26 you know
00:19:24 00:19:29 you can sell in the us you can sell in
00:19:26 00:19:31 the uk you can sell in canada you can
00:19:29 00:19:33 sell in australia you can sell wherever
00:19:31 00:19:35 you want to sell and so that's how like
00:19:33 00:19:37 you know maybe you're making twenty
00:19:35 00:19:39 thousand a month in the us and then in
00:19:37 00:19:41 australia you're making 5 000 a month
00:19:39 00:19:43 and for the same product you don't
00:19:41 00:19:45 necessarily have to launch multiple
00:19:43 00:19:47 products you can actually just launch
00:19:45 00:19:49 one product but launch it in multiple
00:19:47 00:19:52 marketplaces
00:19:49 00:19:55 so there's definitely an enormous room
00:19:52 00:19:59 to grow when it comes to your private
00:19:55 00:20:01 label brand another thing is that
00:19:59 00:20:04 you're building a brand you're building
00:20:01 00:20:06 an asset yes you're going to be able to
00:20:04 00:20:10 pay yourself from your business today
00:20:06 00:20:12 and earn a paycheck and support yourself
00:20:10 00:20:14 but you're building an asset that one
00:20:12 00:20:17 day you could sell and i have first-hand
00:20:14 00:20:20 experience with that my business i was
00:20:17 00:20:24 able to pay myself a great income every
00:20:20 00:20:25 month and with room to save money
00:20:24 00:20:27 and then eventually i decided hey i'd
00:20:25 00:20:30 like to sell my business and that that
00:20:27 00:20:32 made for a wonderful payday
00:20:30 00:20:35 so you're building something that can
00:20:32 00:20:37 really provide for you now and also in
00:20:35 00:20:39 the future now one of the most exciting
00:20:37 00:20:41 things is that because this is your own
00:20:39 00:20:44 brand you have full control over it
00:20:41 00:20:47 there's really no limits
00:20:44 00:20:50 you can tap into your fullest potential
00:20:47 00:20:53 because there's no ceiling you can earn
00:20:50 00:20:55 as much as you want um and
00:20:53 00:20:58 and that's incredible you know i started
00:20:55 00:21:00 selling on amazon and i was i started
00:20:58 00:21:02 selling my product for 24.
00:21:00 00:21:05 then i started selling my product for
00:21:02 00:21:08 sixty dollars the same product for a lot
00:21:05 00:21:10 more because i started to build a brand
00:21:08 00:21:13 and that allowed me to make a lot more
00:21:10 00:21:16 money and so um you know how much i was
00:21:13 00:21:18 making just it was the sky was limit
00:21:16 00:21:20 limit every time i thought that i hit
00:21:18 00:21:22 the max it kept on growing kept on
00:21:20 00:21:23 growing because there's so much that you
00:21:22 00:21:26 can do
00:21:23 00:21:28 in the world of online marketing there's
00:21:26 00:21:32 a million and one things that you could
00:21:28 00:21:33 do to allow your product to reach more
00:21:32 00:21:34 people
00:21:33 00:21:37 to
00:21:34 00:21:38 gain more customers to retarget people
00:21:37 00:21:40 and
00:21:38 00:21:42 have recurring customers there's just so
00:21:40 00:21:44 much that you can do the sky really is
00:21:42 00:21:46 the limit the limit is you it's how much
00:21:44 00:21:47 you want to put into your business how
00:21:46 00:21:49 much
00:21:47 00:21:50 you want to invest into your business
00:21:49 00:21:52 how much time you want to put into your
00:21:50 00:21:55 business and how resourceful you want to
00:21:52 00:21:58 get how creative you want to get so you
00:21:55 00:22:00 have the ability to choose how much or
00:21:58 00:22:03 how little you would like to grow
00:22:00 00:22:05 but it's a blessing to be able to
00:22:03 00:22:07 kind of decide
00:22:05 00:22:09 how big do i want to make this thing
00:22:07 00:22:11 another thing is like i showed you in
00:22:09 00:22:14 the screen share that you can start with
00:22:11 00:22:16 one product on amazon but you can slowly
00:22:14 00:22:17 expand your product line and have
00:22:16 00:22:20 multiple products and that's how you
00:22:17 00:22:22 really build an awesome brand in a
00:22:20 00:22:24 partikular niche
00:22:22 00:22:27 so that's how you can cross-sell between
00:22:24 00:22:30 products and your average order of value
00:22:27 00:22:31 can significantly increase when you do
00:22:30 00:22:34 that
00:22:31 00:22:36 also amazon sellers have far greater
00:22:34 00:22:38 profit margins than most small
00:22:36 00:22:40 businesses
00:22:38 00:22:42 so although you might think well
00:22:40 00:22:46 you know 20 30 profit margin doesn't
00:22:42 00:22:48 seem like much well it's actually really
00:22:46 00:22:50 awesome it's really great compared to
00:22:48 00:22:53 most small businesses you have to think
00:22:50 00:22:55 about how little overhead
00:22:53 00:22:58 you have when you are starting a
00:22:55 00:23:00 business on amazon all you know it's a
00:22:58 00:23:02 one-man show you just start it yourself
00:23:00 00:23:04 you just have to pay for your inventory
00:23:02 00:23:06 you have some marketing expenses you
00:23:04 00:23:08 have a lot of one-time expenses when
00:23:06 00:23:10 you're setting up your business but then
00:23:08 00:23:13 you've got some marketing expenses and
00:23:10 00:23:15 then reordering inventory and and that's
00:23:13 00:23:17 you know the gist of it but when you
00:23:15 00:23:19 have uh you know a brick and mortar
00:23:17 00:23:22 store or any other business there's a
00:23:19 00:23:24 lot more overhead which decreases your
00:23:22 00:23:27 profit margins and it takes most other
00:23:24 00:23:29 businesses a lot longer to become
00:23:27 00:23:31 profitable with an amazon business most
00:23:29 00:23:35 sellers are profitable within the first
00:23:31 00:23:36 three to six months so
00:23:35 00:23:39 massive opportunity there all right i'm
00:23:36 00:23:41 going to touch on some of the cons so
00:23:39 00:23:44 the biggest barrier of entry with this
00:23:41 00:23:46 business is the financial investment
00:23:44 00:23:48 required to get started
00:23:46 00:23:50 so although you know it's really open to
00:23:48 00:23:52 almost anyone you don't need any
00:23:50 00:23:54 partikular education level or any
00:23:52 00:23:56 partikular skills what you do need is
00:23:54 00:23:59 some money to get started
00:23:56 00:24:01 and obviously not everyone has that
00:23:59 00:24:03 now how much money you need to get
00:24:01 00:24:06 started everyone has their own opinion
00:24:03 00:24:08 on that personally i would recommend a
00:24:06 00:24:11 minimum of twenty five hundred dollars
00:24:08 00:24:14 yes you could always do better with more
00:24:11 00:24:16 you can even get away with less but in
00:24:14 00:24:18 my experience in order to feel
00:24:16 00:24:19 comfortable starting this business
00:24:18 00:24:20 twenty five hundred dollars would be a
00:24:19 00:24:21 minimum
00:24:20 00:24:23 so
00:24:21 00:24:26 although this might be a lot of money
00:24:23 00:24:28 for some people you do have to take it
00:24:26 00:24:31 in context twenty five hundred dollars
00:24:28 00:24:32 to start a business is extremely low
00:24:31 00:24:35 just
00:24:32 00:24:37 do some research any other business it's
00:24:35 00:24:40 very hard to start with 2 500
00:24:37 00:24:42 so but i acknowledge that this is a
00:24:40 00:24:45 barrier of entry not everyone can do
00:24:42 00:24:47 this and that's why i'm going to share
00:24:45 00:24:49 with you some other
00:24:47 00:24:52 models that might be a better place for
00:24:49 00:24:54 you to start if you don't have the 2500
00:24:52 00:24:57 there are other ways that you can sell
00:24:54 00:24:59 on amazon that are not private labeling
00:24:57 00:25:01 that maybe they don't have as much
00:24:59 00:25:02 potential as much earning potential but
00:25:01 00:25:04 it's a great way to get your foot in the
00:25:02 00:25:07 door to gain some experience and to make
00:25:04 00:25:10 some profits which you could then save
00:25:07 00:25:11 and later start a private label business
00:25:10 00:25:14 so if you want to learn about different
00:25:11 00:25:17 models of selling on amazon then you can
00:25:14 00:25:18 click the video up here where i share
00:25:17 00:25:21 with you five different ways of selling
00:25:18 00:25:23 on amazon and you know private labeling
00:25:21 00:25:25 may not be the best fit for you and
00:25:23 00:25:26 we'll tok a bit about that later on in
00:25:25 00:25:29 this video
00:25:26 00:25:32 now another con is that it's becoming
00:25:29 00:25:34 more and more competitive to sell
00:25:32 00:25:36 products on amazon
00:25:34 00:25:38 so it is you know i have to acknowledge
00:25:36 00:25:39 that there are definitely way more
00:25:38 00:25:41 people
00:25:39 00:25:44 sharing how much of an opportunity
00:25:41 00:25:46 selling on amazon is i mean there was
00:25:44 00:25:48 probably an ad before this video of
00:25:46 00:25:51 someone sharing with you how they became
00:25:48 00:25:53 a millionaire selling on amazon
00:25:51 00:25:54 so definitely there's more people who
00:25:53 00:25:56 are starting the business who are having
00:25:54 00:25:58 success with the business who are
00:25:56 00:26:01 sharing about it and so more people are
00:25:58 00:26:03 just entering this space and so that
00:26:01 00:26:05 means more competition yes it's still an
00:26:03 00:26:08 opportunity but it just means that
00:26:05 00:26:10 you're gonna have to get more creative
00:26:08 00:26:12 because there's more competition the
00:26:10 00:26:13 sellers are you know better than they've
00:26:12 00:26:15 ever been before you're going to have to
00:26:13 00:26:18 get more creative you're going to figure
00:26:15 00:26:21 out ways to stand out ways to add more
00:26:18 00:26:23 value ways to differentiate yourself
00:26:21 00:26:24 improve your product quality and there's
00:26:23 00:26:26 a lot that you'll have to do that's off
00:26:24 00:26:28 amazon you know back in the day you
00:26:26 00:26:30 might have been able to get away with
00:26:28 00:26:32 just the simple process of launching it
00:26:30 00:26:35 on amazon and just doing some ppc some
00:26:32 00:26:36 pay-per-click marketing but nowadays
00:26:35 00:26:38 there's probably a lot more that you
00:26:36 00:26:41 should be doing off amazon given how
00:26:38 00:26:44 powerful social media is
00:26:41 00:26:46 so it is becoming more competitive but
00:26:44 00:26:48 if you know it's it's not for the meek
00:26:46 00:26:50 but if you're looking for a challenge
00:26:48 00:26:54 and you're willing to put in the work
00:26:50 00:26:55 again it can be a wonderful opportunity
00:26:54 00:26:58 now another con is that it can be
00:26:55 00:27:01 challenging to get customer reviews and
00:26:58 00:27:03 because this is an online business your
00:27:01 00:27:07 reviews are very important your reviews
00:27:03 00:27:09 are what we would call social proof
00:27:07 00:27:11 people are going to be more comfortable
00:27:09 00:27:12 to buy your product when they know that
00:27:11 00:27:15 other customers had a positive
00:27:12 00:27:17 experience with your product
00:27:15 00:27:19 in retail someone goes to the store they
00:27:17 00:27:20 pick up a product they can use their
00:27:19 00:27:23 five senses to
00:27:20 00:27:25 analyze the product they can touch it
00:27:23 00:27:27 they can see it they can smell it
00:27:25 00:27:30 they can really
00:27:27 00:27:32 decide whether or not that you know they
00:27:30 00:27:34 want to buy this product or not and when
00:27:32 00:27:36 they're in the store there's no such
00:27:34 00:27:38 thing as customer reviews they make the
00:27:36 00:27:40 decision themselves based on what they
00:27:38 00:27:41 see
00:27:40 00:27:44 online however
00:27:41 00:27:46 there are customer reviews and so people
00:27:44 00:27:48 will pop from one listing to the next
00:27:46 00:27:50 listing and they'll read the reviews and
00:27:48 00:27:52 see which one has the most reviews and
00:27:50 00:27:55 which one has the most positive reviews
00:27:52 00:27:56 and it does definitely raise their
00:27:55 00:27:59 buying decision
00:27:56 00:28:01 so yes reviews are important and it can
00:27:59 00:28:02 be sometimes challenging to get those
00:28:01 00:28:04 reviews
00:28:02 00:28:07 but i have another video toking about
00:28:04 00:28:08 how you know the best way to get reviews
00:28:07 00:28:11 i'll link it in the description box for
00:28:08 00:28:14 you another con maybe a com maybe not a
00:28:11 00:28:16 con this is not a get rich quick um this
00:28:14 00:28:18 is not something that you know you're
00:28:16 00:28:19 going to start your business a month
00:28:18 00:28:21 from now two months from now you're
00:28:19 00:28:23 going to be making a profit you're going
00:28:21 00:28:25 to be making the killing um it can take
00:28:23 00:28:28 three to six months before you start to
00:28:25 00:28:30 see a profit but even then even when you
00:28:28 00:28:32 start to see a profit what are you going
00:28:30 00:28:33 to do with that profit
00:28:32 00:28:36 are you going to pay yourself straight
00:28:33 00:28:38 away you could but the majority of
00:28:36 00:28:40 amazon sellers choose to reinvest that
00:28:38 00:28:42 profit back into their business and
00:28:40 00:28:43 sometimes they don't have a choice
00:28:42 00:28:46 because when their business is growing
00:28:43 00:28:49 they have increasingly larger inventory
00:28:46 00:28:50 orders they have more marketing expenses
00:28:49 00:28:52 and they've got to put that money back
00:28:50 00:28:53 into their business just so it can
00:28:52 00:28:55 survive so that it can flourish that it
00:28:53 00:28:57 can grow
00:28:55 00:28:59 they want to nurture their business
00:28:57 00:29:01 so oftentimes you're probably not going
00:28:59 00:29:03 to pull a profit from your business
00:29:01 00:29:04 and pay yourself for maybe the first six
00:29:03 00:29:07 months maybe the first year or maybe the
00:29:04 00:29:10 first two years it took me two years
00:29:07 00:29:12 before i actually quit my my job i was i
00:29:10 00:29:14 still it took me two years i could have
00:29:12 00:29:16 quit sooner but i wanted to wait until i
00:29:14 00:29:17 was super comfortable until i had more
00:29:16 00:29:19 than enough money in the bank account
00:29:17 00:29:22 where i could pay myself without taking
00:29:19 00:29:24 away from my business and the last thing
00:29:22 00:29:27 i'll say is that when you're selling on
00:29:24 00:29:30 amazon you are selling on amazon's
00:29:27 00:29:32 platform and they know that they're
00:29:30 00:29:33 giving you a great opportunity to sell
00:29:32 00:29:36 on their platform
00:29:33 00:29:38 they want you to know that those are
00:29:36 00:29:40 their customers
00:29:38 00:29:41 that you don't own your amazon listing
00:29:40 00:29:45 amazon does
00:29:41 00:29:47 so they have full control and you really
00:29:45 00:29:48 don't own anything except for the brand
00:29:47 00:29:51 that you create
00:29:48 00:29:54 so although i recommend starting on
00:29:51 00:29:56 amazon because of the enormous reach
00:29:54 00:29:58 that they
00:29:56 00:29:59 provide for you
00:29:58 00:30:03 i don't recommend having all your eggs
00:29:59 00:30:06 in one basket basket meaning eventually
00:30:03 00:30:08 i recommend as your brand grows it's
00:30:06 00:30:11 powerful to start selling on your own
00:30:08 00:30:14 website so that you're not 100 dependent
00:30:11 00:30:16 on amazon because it's possible although
00:30:14 00:30:18 the chances are low it's possible that
00:30:16 00:30:20 they change their algorithm that for
00:30:18 00:30:23 some reason your listing gets
00:30:20 00:30:26 deactivated your account gets
00:30:23 00:30:28 deactivated maybe they have determined
00:30:26 00:30:30 that you didn't follow their terms of
00:30:28 00:30:31 service whether intentional or by
00:30:30 00:30:33 accident
00:30:31 00:30:34 so there's always those things that
00:30:33 00:30:37 could happen
00:30:34 00:30:40 and so it's best not to be dependent on
00:30:37 00:30:42 any one platform and so um you know i
00:30:40 00:30:44 would say that's a con of selling on
00:30:42 00:30:46 amazon uh but the way around that is you
00:30:44 00:30:49 start there and then you branch off and
00:30:46 00:30:51 sell on different platforms so if that
00:30:49 00:30:53 one goes down for whatever reason you
00:30:51 00:30:54 know you still got some other sources of
00:30:53 00:30:56 income
00:30:54 00:30:59 and the last one is the fees
00:30:56 00:31:01 so if you sell on amazon they do charge
00:30:59 00:31:03 you a referral fee
00:31:01 00:31:05 they know that they're giving you their
00:31:03 00:31:07 reach and their customers and so for
00:31:05 00:31:11 each item you sell you have to pay
00:31:07 00:31:12 amazon a percentage of um you know that
00:31:11 00:31:14 product
00:31:12 00:31:16 so there are other fees involved if
00:31:14 00:31:18 you're going to be fulfilling products
00:31:16 00:31:20 with their fba warehouses fulfilled by
00:31:18 00:31:23 amazon
00:31:20 00:31:25 but they always charge a referral fee
00:31:23 00:31:26 so if you are going to compare it to
00:31:25 00:31:28 selling on your own website
00:31:26 00:31:30 you
00:31:28 00:31:32 eliminate the fee there's no referral
00:31:30 00:31:34 fee if you sell on your own website so
00:31:32 00:31:37 again you know it's cost it's going to
00:31:34 00:31:39 be more costly to sell on amazon so
00:31:37 00:31:40 maybe start there build your business
00:31:39 00:31:43 there
00:31:40 00:31:46 develop an audience a customer base and
00:31:43 00:31:47 transition to selling on your website
00:31:46 00:31:48 and you don't have to exclusively sell
00:31:47 00:31:51 on your website you can sell it in
00:31:48 00:31:52 conjunction with amazon and just realize
00:31:51 00:31:54 that you're going to be making higher
00:31:52 00:31:56 profits on your website than you will on
00:31:54 00:31:59 amazon alright so how much money are you
00:31:56 00:32:02 likely to make as an amazon seller and
00:31:59 00:32:05 how likely is it to become a millionaire
00:32:02 00:32:07 well let me just preface this by
00:32:05 00:32:09 reminding you that if success was easy
00:32:07 00:32:11 everyone would be successful right so
00:32:09 00:32:15 it's challenging and there's always
00:32:11 00:32:17 going to be a minority of people who are
00:32:15 00:32:18 successful so that comes with any
00:32:17 00:32:20 business
00:32:18 00:32:22 i happened to
00:32:20 00:32:24 do really well with my amazon business
00:32:22 00:32:26 and i was able to become a millionaire
00:32:24 00:32:29 through my e-commerce business but i
00:32:26 00:32:31 recognized that i'm one of the few so
00:32:29 00:32:33 i'm going to read you some of the stats
00:32:31 00:32:36 from jungle scout
00:32:33 00:32:38 state of the amazon seller and i'll link
00:32:36 00:32:40 the pdf where you can download the pdf
00:32:38 00:32:43 from the description of this video they
00:32:40 00:32:44 do every year in analysis of all the
00:32:43 00:32:46 data all this information it's really
00:32:44 00:32:48 awesome i'll share with you some of the
00:32:46 00:32:51 statistiks from that sheet
00:32:48 00:32:54 so half of amazon sellers see more than
00:32:51 00:32:56 five thousand dollars per month in sale
00:32:54 00:32:59 so half of amazon sellers see more than
00:32:56 00:33:03 5 000 per month in sales
00:32:59 00:33:05 25 of amazon sellers see over 25 000 per
00:33:03 00:33:07 month in sales
00:33:05 00:33:11 more than half of amazon sellers have
00:33:07 00:33:13 reached lifetime sales of 50 000 or more
00:33:11 00:33:15 and keep in mind that
00:33:13 00:33:18 you know selling on amazon is still
00:33:15 00:33:20 relatively new so most of this
00:33:18 00:33:23 information is based on just people
00:33:20 00:33:25 selling for two to five years so um you
00:33:23 00:33:28 know keep that in mind it's not like
00:33:25 00:33:31 this has been around for decades
00:33:28 00:33:33 um 19 of sellers have exceeded 1 million
00:33:31 00:33:36 dollars in sales
00:33:33 00:33:38 so again you know 19 is the minority but
00:33:36 00:33:39 it's still a possibility
00:33:38 00:33:42 just because
00:33:39 00:33:44 you know the chances the odds are
00:33:42 00:33:46 against you does not mean that you
00:33:44 00:33:48 should not strive to
00:33:46 00:33:51 become part of that minority everyone
00:33:48 00:33:52 has an equal opportunity to getting
00:33:51 00:33:56 there
00:33:52 00:33:57 71 of sellers have sales over a thousand
00:33:56 00:33:59 dollars per month
00:33:57 00:34:01 so if you're in this and you just want
00:33:59 00:34:03 to make a little bit of extra cash
00:34:01 00:34:05 thousand two thousand dollars per month
00:34:03 00:34:08 well 71 percent of sellers are
00:34:05 00:34:10 successfully doing that so the odds are
00:34:08 00:34:12 in your favor of that
00:34:10 00:34:15 81 percent of million dollar sellers on
00:34:12 00:34:18 amazon they follow the private label
00:34:15 00:34:20 model so earlier i alluded to different
00:34:18 00:34:21 models of selling on amazon
00:34:20 00:34:23 and
00:34:21 00:34:26 81 of the people who are making millions
00:34:23 00:34:28 on amazon they're doing this model the
00:34:26 00:34:30 private labeling model because it has
00:34:28 00:34:32 the highest potential the largest profit
00:34:30 00:34:36 margin
00:34:32 00:34:39 39 of sellers spend fewer than 10 hours
00:34:36 00:34:42 a week on their amazon business
00:34:39 00:34:44 so as i alluded to earlier um you know
00:34:42 00:34:46 you don't have to go full time with this
00:34:44 00:34:47 most people are not going full time with
00:34:46 00:34:51 this
00:34:47 00:34:53 i went full time after two years but i
00:34:51 00:34:55 was had still not developed systems in
00:34:53 00:34:57 my business after about
00:34:55 00:34:59 three years i developed more systems and
00:34:57 00:35:01 i was able to focus my time on other
00:34:59 00:35:02 areas of business and starting new
00:35:01 00:35:04 things and creating new streams of
00:35:02 00:35:07 income now i have seven streams of
00:35:04 00:35:09 income and i was able to do that not by
00:35:07 00:35:12 doing them all at once by by mastering
00:35:09 00:35:14 one area setting up systems hiring
00:35:12 00:35:16 people and then i'm able to remove
00:35:14 00:35:19 myself and focus on another area setting
00:35:16 00:35:21 up systems doing what i got to do to
00:35:19 00:35:22 automate it remove myself and set up
00:35:21 00:35:24 another and then i have all these
00:35:22 00:35:26 streams of income that are kind of
00:35:24 00:35:28 passively producing money for me or that
00:35:26 00:35:30 i don't have to work on or check in as
00:35:28 00:35:32 much 60
00:35:30 00:35:35 of sellers are profitable within the
00:35:32 00:35:37 first year of selling on amazon
00:35:35 00:35:39 okay so again compared to a regular
00:35:37 00:35:41 business that's quite high because most
00:35:39 00:35:43 people are going to be in debt when
00:35:41 00:35:47 starting a business for the first
00:35:43 00:35:50 first couple years at least 58 of amazon
00:35:47 00:35:52 sellers spent less than five thousand
00:35:50 00:35:54 dollars on their business
00:35:52 00:35:56 um to start it so five thousand dollars
00:35:54 00:35:59 includes their inventory their shipping
00:35:56 00:36:03 their marketing their branding all of
00:35:59 00:36:07 that stuff so uh more than 50 of sellers
00:36:03 00:36:09 spent less than 5k and 28 of sellers
00:36:07 00:36:11 spent less than a thousand dollars to
00:36:09 00:36:14 get started so as i mentioned earlier i
00:36:11 00:36:16 said 2500 is that sweet spot you could
00:36:14 00:36:18 have more but you could have less 28 of
00:36:16 00:36:22 people spent less than a thousand all
00:36:18 00:36:24 right so is this the right fit for you
00:36:22 00:36:27 well only you can determine that because
00:36:24 00:36:29 you know you i don't know you personally
00:36:27 00:36:30 but i'll just give you my two cents on a
00:36:29 00:36:33 few things
00:36:30 00:36:35 if you are very risk averse
00:36:33 00:36:38 then entrepreneurship may not be the
00:36:35 00:36:40 best fit for you risk averse means that
00:36:38 00:36:42 you prefer avoiding loss
00:36:40 00:36:45 over making a gain
00:36:42 00:36:48 and this is because all business not
00:36:45 00:36:50 just amazon business all business
00:36:48 00:36:52 involves some level of risk
00:36:50 00:36:53 and
00:36:52 00:36:56 so we of course are going to do what we
00:36:53 00:36:59 can to mitigate our risk so that we can
00:36:56 00:37:01 minimize our losses
00:36:59 00:37:03 but we always have to remember that
00:37:01 00:37:05 starting a business is a risky it's a
00:37:03 00:37:06 risky business and if you're not
00:37:05 00:37:09 comfortable
00:37:06 00:37:11 if you're not comfortable with risk then
00:37:09 00:37:13 what might happen and i've seen this
00:37:11 00:37:15 with a lot of people
00:37:13 00:37:18 is that you get paralyzed you're
00:37:15 00:37:20 paralyzed in fear and you're not able to
00:37:18 00:37:23 make the next move
00:37:20 00:37:25 and so some people are very risk-averse
00:37:23 00:37:27 some people are just more comfortable
00:37:25 00:37:29 with yes obviously don't want to lose
00:37:27 00:37:32 money and want to do the best i can to
00:37:29 00:37:34 mitigate my risk but i understand that
00:37:32 00:37:35 that i'm starting a business here and
00:37:34 00:37:37 i'm i'm
00:37:35 00:37:41 uh comfortable with the risk that i'm
00:37:37 00:37:43 taking on now if you need step-by-step
00:37:41 00:37:44 guidance then not everyone needs that
00:37:43 00:37:47 right a lot of people feel very
00:37:44 00:37:49 confident to take this on themselves and
00:37:47 00:37:51 to learn information and pull
00:37:49 00:37:53 information and they feel very confident
00:37:51 00:37:54 in building their business but my
00:37:53 00:37:56 experience with working with people is
00:37:54 00:37:58 that most people
00:37:56 00:38:01 who don't come from a business
00:37:58 00:38:03 background who don't ever has never
00:38:01 00:38:06 opened an online business they feel
00:38:03 00:38:07 intimidated by the process and they want
00:38:06 00:38:10 someone to hold their hand they want
00:38:07 00:38:12 step-by-step guidance so that's where
00:38:10 00:38:14 taking a course comes in i'm not going
00:38:12 00:38:16 to sell you on any courses but i'm just
00:38:14 00:38:19 telling you why it's something to
00:38:16 00:38:21 consider just because you know you have
00:38:19 00:38:24 to make sure that you um
00:38:21 00:38:26 you're not closed-minded to the option
00:38:24 00:38:28 of taking a course because i know what
00:38:26 00:38:30 you can become that way when you see
00:38:28 00:38:31 everyone's trying to sell you a course
00:38:30 00:38:33 like
00:38:31 00:38:35 you know everyone on youtube seems to
00:38:33 00:38:36 have their own program that they want to
00:38:35 00:38:37 sell you on
00:38:36 00:38:40 but
00:38:37 00:38:42 there is a place for that and i took a
00:38:40 00:38:44 course to start my business and i can
00:38:42 00:38:47 sincerely say i don't know if i would
00:38:44 00:38:50 have had the success that i had had i
00:38:47 00:38:51 not taken a step-by-step program because
00:38:50 00:38:53 i didn't know what the hell i was doing
00:38:51 00:38:55 i needed that guidance
00:38:53 00:38:57 so if you're someone who needs that
00:38:55 00:38:59 guidance then that's going to be super
00:38:57 00:39:01 valuable for you that's what's going to
00:38:59 00:39:03 help you to create the success because
00:39:01 00:39:05 without it you might feel lost and you
00:39:03 00:39:07 might miss a lot of information that's
00:39:05 00:39:10 important to know i'll also say that if
00:39:07 00:39:12 you have less than twenty five hundred
00:39:10 00:39:14 dollars to invest in your business then
00:39:12 00:39:17 you may not want to start with the
00:39:14 00:39:20 private label model again i will link a
00:39:17 00:39:22 video in the description box for you
00:39:20 00:39:24 of different models of selling on amazon
00:39:22 00:39:25 there are different ways that you can
00:39:24 00:39:27 make money on amazon that are great
00:39:25 00:39:29 options
00:39:27 00:39:31 that just don't require as much
00:39:29 00:39:33 investment up front i don't want to see
00:39:31 00:39:35 anyone putting their life savings into
00:39:33 00:39:38 building a business
00:39:35 00:39:40 again because it's risky you can't you
00:39:38 00:39:41 got to be responsible with your money
00:39:40 00:39:42 especially if you have a family to
00:39:41 00:39:45 support
00:39:42 00:39:46 and so you want to make sure that you
00:39:45 00:39:49 are comfortable with what you are
00:39:46 00:39:51 investing into your business
00:39:49 00:39:54 now i would say if you want to build a
00:39:51 00:39:56 brand if you're set on building a brand
00:39:54 00:39:57 this is the best way to get started with
00:39:56 00:39:58 it
00:39:57 00:40:00 i
00:39:58 00:40:02 i think that the other models you might
00:40:00 00:40:05 not be as interested in or have as much
00:40:02 00:40:06 passion for i know personally for me i
00:40:05 00:40:08 was just drawn to this model because i
00:40:06 00:40:10 was really excited to create something
00:40:08 00:40:12 of my own to see other people using my
00:40:10 00:40:14 products and benefiting from my products
00:40:12 00:40:17 so you might actually
00:40:14 00:40:19 summon some passion in building this and
00:40:17 00:40:20 passion goes a long way passion can
00:40:19 00:40:23 really
00:40:20 00:40:24 help you to create a tremendous amount
00:40:23 00:40:28 of success because you're going to be
00:40:24 00:40:29 more willing to work harder invest time
00:40:28 00:40:32 and energy into your business when
00:40:29 00:40:35 you're truly passionate about it
00:40:32 00:40:37 if you want to invent something new then
00:40:35 00:40:39 this is not the right model for you so
00:40:37 00:40:41 if you are an inventor if you have a
00:40:39 00:40:43 product that you've invented then
00:40:41 00:40:44 private labeling is not the right model
00:40:43 00:40:46 and i don't even know if selling on
00:40:44 00:40:48 amazon is is probably better off selling
00:40:46 00:40:50 on your own website because when you're
00:40:48 00:40:52 selling on amazon you never want to be
00:40:50 00:40:54 introducing something new to the
00:40:52 00:40:56 marketplace
00:40:54 00:40:59 because that requires educating people
00:40:56 00:41:02 and educating people on a new product or
00:40:59 00:41:05 service is extremely costly you have to
00:41:02 00:41:07 spend tens of thousands of dollars in
00:41:05 00:41:09 marketing just to teach people what the
00:41:07 00:41:11 hell your product is
00:41:09 00:41:12 and amazon's not the place to do that on
00:41:11 00:41:14 amazon you just want to sell products
00:41:12 00:41:16 that people are already searching for
00:41:14 00:41:17 because if they are not searching for
00:41:16 00:41:18 your product because they don't know
00:41:17 00:41:20 what it is it's a brand new product
00:41:18 00:41:22 they're never going to find it and the
00:41:20 00:41:24 way amazon works is there are certain
00:41:22 00:41:26 keywords that people are searching for
00:41:24 00:41:29 and that's how your product shows up
00:41:26 00:41:31 it's a search engine just like google
00:41:29 00:41:32 so if you want to invent something then
00:41:31 00:41:35 it might not be the best fit for you
00:41:32 00:41:37 alright so that wraps up this video was
00:41:35 00:41:39 a bit longer than i hoped for but
00:41:37 00:41:41 hopefully you guys got value from this
00:41:39 00:41:44 um again you know you do have to be
00:41:41 00:41:44 aware as you enter this space that there
00:41:44 00:41:47 are
00:41:44 00:41:50 a lot of phonies out there there are a
00:41:47 00:41:52 lot of people who um you know they make
00:41:50 00:41:54 more money teaching you or selling you a
00:41:52 00:41:56 course then they actually do selling
00:41:54 00:41:58 their own products so not everyone is
00:41:56 00:41:59 you know there's some people that yeah
00:41:58 00:42:01 they might make less money selling their
00:41:59 00:42:04 own products but the advice that they
00:42:01 00:42:06 have to give you is super valuable
00:42:04 00:42:08 but you just you know do your own
00:42:06 00:42:10 research do your own due diligence be
00:42:08 00:42:13 careful who you follow and who you take
00:42:10 00:42:17 advice from and um and just do the best
00:42:13 00:42:19 you can and give it a try so um if you
00:42:17 00:42:22 need some help getting started i have a
00:42:19 00:42:24 free four-part video series training
00:42:22 00:42:26 it's not a course you're not buying
00:42:24 00:42:28 anything no credit card required you
00:42:26 00:42:32 simply go to tatianajames.com
00:42:28 00:42:34 fba or click the link in the description
00:42:32 00:42:36 and you just give me your email and i
00:42:34 00:42:39 will send to your inbox
00:42:36 00:42:42 for videos and in these four videos
00:42:39 00:42:45 video number one i take you step by step
00:42:42 00:42:48 by step on building your amazon business
00:42:45 00:42:50 and or is that video too i'm not sure
00:42:48 00:42:52 but there are four videos all of them
00:42:50 00:42:54 will be very powerful for you if you are
00:42:52 00:42:55 a beginner and you need some guidance
00:42:54 00:42:59 and from that point forward you're going
00:42:55 00:43:00 to have a lot more clarity on what to do
00:42:59 00:43:02 moving forward
00:43:00 00:43:03 so thank you guys for watching let me
00:43:02 00:43:07 know if you have any questions in the
00:43:03 00:43:09 comment box let me know what you um what
00:43:07 00:43:11 value you received from the video and if
00:43:09 00:43:12 you have any video suggestions for me in
00:43:11 00:43:15 the future
00:43:12 00:43:17 thank you guys and i'll see you next
00:43:15 00:43:17 time bye

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