hey everyone this is stefan from
projectlifemastery.com today I'm excited
to be interviewing Ryan coy Sean Ryan is
a very successful online marketer it's
been doing internet marketing since 2003
he's also the founder of econ masters
he's an Amazon seller and along with him
and his partner that sold millions of
dollars worth of products on Amazon
through private labeling and drop
shipping so Ryan thank you so much for
taking time today how're you doing I'm
doing great you know I really appreciate
you having me here and I just super
excited to share kind of my story and
what we're doing with Amazon it's very
exciting
cool cool and Ryan's actually joining us
from Manila in the Philippines and he
actually just showed me his views on
this is a 60 74-67 floor now yeah the
view is pretty immediate you could
definitely Trump's my view so okay
pretty is not it when it's not hazy out
right right cool man
so do you mind I guess the first
question is you mind sharing a little
bit about yourself and your story maybe
just you know how you got started with
online marketing and you know you've
done a lot of different things online
you mentioned but yeah even how
specifically you got into selling on
eum's yeah so first I think you know all
of us entrepreneurs we've all kind of
had that entrepreneurial green for a
long time me personally I've always
really wanted to make an impact and do
something different
I every time I had a job I was
constantly thinking about how to get out
of the tub so I just knew that this was
my kind of thing and over the years it
you know what's kind of funny actually
real quick if I just traced back when I
was about in eighth grade I remember my
brother was obsessed with the Internet
he's two years older than me and this
was let's say so I'm this was maybe a
mid 90s ish and um I just couldn't
believe that the internet was active
late 90s actually was actually gonna
stay around right and I actually was
like why are you bothering learning
about all this different stuff this is
not gonna stay around which I kind of
think is hysterical now because if you
think about it like this is how I make
my living and how the world really
operates through the internet um but you
know I started doing all different types
of things online and
I really got into drop shipping maybe
about five years ago and I left the
model because one of the things that was
great about it is you didn't have to do
the product creation you didn't have to
do the shipping the returns you didn't
have to deal with a lot of the issues
that come with running a business
especially one that's more you know or
in line with kind of a brick and mortar
business as an affiliate marketer you
know someone who has promoted other
people's products for the longest time
transition where I didn't have to deal
with these types of dealing with clients
or doing all this sort of stuff but the
the issue that I found was we were
running a front and I were running a
site that had to do with college stuff
licensed merchandise and the biggest
hurdle was we had thousands of products
and we had 30 suppliers so dealing with
stock and stuff that was in stock out of
stock refunding customers I mean it was
impossible to keep track of everything
and it really in the end to me was was
somewhat of a flawed model I think
dropshipping can still work but I
started to look for other options I
started to look at what could I do that
was more scalable and streamlined and
that's really when I got reintroduced to
Amazon because I had actually previously
before this I had started selling on
Amazon so when I was an ebay powerseller
I started selling on Amazon as well to
be able to kind of take advantage of
other another marketplace and other
customers but again it wasn't a scalable
model you know to me after I've looked
at you know I've been online for in over
ten years now and I'm at a stage where I
want to find the opportunity that I can
grow with instead of you know a lot of
people do one thing switch to something
else do one thing switch from you know
do that for a while and switch to me I
want to find something that is more
evergreen and perpetual and that's what
I believe selling physical products in
your own brand art that's awesome so for
those that are familiar
there's dropshipping there's private
label
you mind sharing a little bit about the
differences and what yes not to be the
best the best way of making money on the
Amazon today yes oh the drop shipping is
very simple model basically you're
finding companies out there that already
sell products and in our case it was
very advantageous to do in the
collegiate and professional athlete
space sports teams because the licenses
were very very expensive if you want to
license a - I went to college at the
Florida State so if you want a license
the Seminoles logo and stuff like that
you got to pay a lot of money so these
companies have already paid all those
licensing fees they're already
manufacturing the products they've
already got the warehouses shipping
everything all dialed in so basically
I'm putting their products on my website
and I'm selling them for say $50 and
they're charging me 20 I basically as I
get a customer I send the customers
information to the drop shipper and then
they simply ship out the order and they
obviously they can put my return mailing
address they handle all that stuff for
me they act on my behalf and it's a
really great model because again they're
doing the legwork you just need to make
the sale now there's some challenges
obviously there because you don't
control the inventory you don't control
when they work if they take longer
holidays you know especially around
Christmas you don't control you know a
lot of different things unfortunately
and we ran into some hurdles there but
in general I would say drop shipping can
still be a good model the other major
challenge that we ran into is it's kind
of sometimes a race to the bottom in
that some of these companies will say
that you have to sell you know your
suggested retail prices X but you cannot
sell it for less than say $40.00 they're
suggesting you sell for 50 but you can't
sell it for less than 40 well sometimes
when people can't market as well as
maybe someone like yourself is learning
you know or someone who's learning from
you where someone has gone through our
courses you know they start to lower the
prices and because you have no
competitive advantage it's the exact
same product there's kind of some race
to the bottom on price so it can be a
little bit tricky in that situation
verse
is private labeling the easiest way to
understand it is if you think about your
favorite grocery store that you go to or
a Walmart as an example you go into
Walmart or you go into your grocery
store and in the United States you know
when I'm back there Publix or there's
you know all these big chains and you go
there and you're walking through the
aisles looking at all the different
stuff and then you notice
okay there's Publix brand can of peas
there's Publix tater tots there's public
whatever they're simply private labeling
those products from a company that
already manufactures all of these and
they're simply putting their own brand
you know Publix brand and Walmart has
think it's called great value and all
these companies have their own specific
brand and simply you're just working
with the manufacturer much like working
with a drop shipper but now you're
working with the manufacturer and
they're already producing these products
whether it's in the United States in
Canada in you know all different places
China you know all throughout Asia all
over the place different places
specialize in different things we've
even looked at products in Sri Lanka of
all places and then you work with the
manufacturer and they simply create the
exact same product that they're creating
maybe with a slight variation if you
would like or a large variation if you
would like and then they put your
branding your labeling or packaging on
that product and now it becomes your own
brand and as it being your own brand
it's 100% unique to you you can control
the price you can control the marketing
you don't have this kind of race to the
bottom on pricing and if you're like my
business partner Daniel and I we always
focus then on premium everything is
premium price we kind of aim at the top
level we want to attract the higher-end
customers because that leads in more
margin for us and at the end of the day
with more margin that allows us to spend
more money and as you'll learn over time
in marketing if you can spend more money
to acquire our customer than your
competition you're always going to win
because you can out price them you can
out-compete them they can't they can't
spend enough money yeah you got it so
definitely I mean I think long-term
building the brand through private
labeling just a better way to go because
I mean you're building raving fan
customers and with that brand it gives
you so much the ability to launch
multiple products through those
customers would do a lot more
oh yeah there's kind of a hybrid
approach to some people take you know
you can't build your brand and focus on
that and just like on the back end if
you only have two products and I was
saying say I was selling kind of sports
here and I was selling you know we used
to sell car mats and say we had car mats
and on the back end if someone's buying
car mats from me that has a you know
sports logo on it there's no reason on
the back end I couldn't dropship other
products to them and sell those to them
via email that just expands your product
line and to me that's more having like a
long-term vision and what you could do
you know we can talk about strategies
around that if you have time as well
yeah absolutely
and you might may be sharing a little
bit just you know you got in just gonna
go back to your story you know you got
into dropshipping private labeling and
everything what's kind of what's been
the results for you you know houses
taken often for you yeah you know for
our business partner and I mean it's
been incredible
you know we've built the largest
business that we've ever built online
you know we've done incredibly well we
have hundreds of products we now are
partnered up with three of our students
and one of those brands has a hundred
plus SKUs and other brands got about 30
or so SKUs and another brands got
roughly 15 or so SKUs and you know we're
just scaling and scaling and scaling and
you know right now it's amazing the
opportunity a lot of people are kind of
starting to run away a little bit from
Amazon because they're afraid of
competition or they're afraid of
whatever but we see the opportunity
hasn't changed at all the opportunity is
actually much greater now and we're
doubling down on what works for us we're
expanding international you know we're
just really really focused on this and
you know part of the reason that I'm
here in Manila mid the main reason that
I'm here in Manila is my business
partner I we also have an office here
and we've got about 40 staff at the at
the moment that are here helping us with
our actual business and it's been
incredible to not only be able to grow a
successful business and do incredibly
well and sell you know millions in
dollars worth of product but to also
then be able to employ as many people as
we do and make an impact on their lives
and their family lives as well well
that's pretty amazing and I definitely I
want to comment on what you said I want
to ask you maybe a little bit more about
the opportunity because I know for
myself just selling on Amazon starting
with publishing first
I remember when I first launched my
course you know everyone is saying you
know the opportunities gone is too
competitive and sure enough year after
year there's more people making more
money on Amazon than ever before you
know it's like the markets do change
this competition but as long as you're
willing to put in work and you gotta
also keep in mind how much Amazon is
growing so I'd love to hear a little bit
more you know someone that's watching
this right now they're considering this
as an opportunity you know what do you
see the opportunity to on Amazon right
now getting into it where do you see
Amazon going so first I think you know
people whenever you look at a business
that you want to do you have to kind of
first look at the business model you
know there's so many business models
that you can do online and be successful
I mean the old saying is there's a
million ways to make a million dollars
and it really is true especially online
so you have to look at the business
model first and to me what is the Amazon
business model like what makes it so
great so the business model obviously is
you're selling physical products you can
sell digital products as well the
private label model is you're selling
physical goods that are usually less
than a hundred dollars and you know you
have good margins on those and basically
you're selling them on their marketplace
that's kind of the initial business
model to me the advantages of it is
you're leveraging Amazon's credibility
you're leveraging Amazon's growth you're
leveraging all of their customers you
know they're the trust that they've got
rip those customers just outside of that
initial credibility of being on Amazon
you've got you know obviously they'll do
marketing for you I mean all the in the
list goes on and on and on but the main
option you know is to use FBA
you know you can sell them through your
own warehouse but FBA really again kind
of makes it more similar to drop
shipping in that you're shipping all of
your product to Amazon they're the ones
handling
the ship in there the ones handling
returns they're doing the bulk of the
customer service where you still get
some questions I mean you know it's not
overwhelming on one of our consulates so
a ton of product it may be 20 or 30
questions a day or email today and we're
doing large volume you know you get all
these extra added on benefits for you
and obviously one of the biggest one is
Amazon's distributions they've got all
these distribution and fulfillment
centers across the country
so that means that if I sell a product
on New York and I saw a product on North
Carolina they might not even ship from
the same place so that the customer gets
them faster and that makes the customer
happy you know obviously Amazon really
wants to hear about that customer so you
look at that whole general thing and
then you kind of consider that business
model has that business model really
change and the answer is no no you know
I mean the the business model hasn't
changed at all
what what's different is now that
there's competition coming in people are
starting to look at it as that it's
harder to actually make money money and
and yes and no so to me that general
business hasn't changed the opportunity
hasn't changed maybe the slight squeeze
of the opportunity has changed but
that's not why I'm in stands and that's
probably not why you sell you know
digital goods the opportunity to saying
the same and do you hear a little echo
sorry oh no I don't okay okay cool um
just my sex so the opportunity you know
really hasn't changed at all the actual
opportunity is simply enhancing you know
as you mentioned Amazon is continuing to
grow if you look at 2013 they did about
68 billion in 2015 they're doing it
they're estimating they're going to you
know break a hundred billion so now that
obviously isn't all from just physical
product sales but roughly forty percent
of their revenue is derived from people
like I like myself who sell private
label kids through their platform you
know so I think the opportunity is
greater than ever
you have to kind of retrace back while
you're looking at the
opportunity and yes it can be more
competitive yes it's not as simple as
slamming a bunch of reviews and doing
discounted sales but if you build a
long-term brand if you build a long-term
business you wouldn't want to do those
things anyways so and I think people
look at is just you know the path of
least resistance and they wanted one you
know the done the opportunity of just
doing making money with no work I mean
that doesn't really exist and I think a
lot of people they're not willing to put
in the work and as long as you are and
you're willing to build the brand and do
the work like you said and get the right
education and knowledge then this
opportunity can make someone millions
and millions of dollars and it's been
proven time and time again so I don't
know if you can relate to this as well
but I find making money online is so
much easier than ever before you know
you mention all the reasons of what
Amazon does and how we're leveraging you
know their trust the reputation their
website their conversion rates their
marketing the filming shipping all that
sort of stuff and I remember personally
when I got into online marketing how
much more challenging it was like it
didn't lead years before I started
making any money online just you're not
I'm just trying to bang my head against
the wall into trying it for now I since
you know I said people they'll decide
you don't know someone Amazon is blown
away by how fast people are getting
results you know so that's the amazing
thing that I found with this opportunity
as well as how fast someone can put up a
product and get it selling me Amazon
really does so much of it for you
yeah I mean that it's a great point like
when I got started I remember you know
even if I don't even think when I
initially started WordPress was around
yeah you know I was still doing like
custom code IDO smell and even when I
started selling on eBay it was like I
had this crazy software that I was like
loading things into the software and
then like uploading it and I mean it was
things were not easy it was a so much
harder to actually do a lot of the
technical stuff and I think part of the
problem with our industry and I'll just
kind of internet marketing industry in
general and people are trying to make
money online is that too many people
have bred the idea of you
make money on the beach make money while
you sleep make you know quick cash
blah-blah-blah-blah-blah and that's kind
of one of two of the problems in my
opinion that that first problem gets
these new people are coming in the
expectation that oh I can I should be
able to do this right away and they'll
buy a course they'll buy o training and
they go through it you know and we we
ask our customers why they would refund
etc stuff like that and like oh it's
more work than I thought it was going to
be yeah you're building a business that
could potentially change your life
forever it's going to be a little bit of
work you know that's that's a good thing
you know it's going to keep a lot of
people out because it takes work the
other problem is people like you and I
who you know been in the industry for a
while make money we know a lot of other
people that make money and as
entrepreneurs one of our traits common
in entrepreneurs is kind of wheat we
fall prey to this shiny object syndrome
you know we see so many people like oh
man my buddy is making 10 10k a day
selling one product and buying media or
oh my friends running this membership
site and he's got a hundred thousand
customers paying a membership fees this
guy's got software you know like I
should use this how to do this I just
this we get pulled in a million
different directions but once you've
figured out your business model you
figure out why you want it to that
business model and you just stay focused
on it if you put that commitment if you
put that Drive all towards that one
thing you're going to be able to really
knock out all of your competition for
the most part just by that one thing
because so many other people are
distracted and focus is incredibly
powerful as I'm sure you know no I
totally agree and I mean even I mean
just yeah realizing that this is a
business and with any business there's
going to be failure and challenges and
all the things that come with it I've
you know the challenge with many people
have seen is they've never run in
business before they've never faced
little adversity and some of the
challenges logistical things you have to
deal with with business and I spent a
lot of time just helping people to
understand that that's normal you know
it's normal you know it's not like
success is the justice frictionless Road
of you know everything is smooth and
everything like that it's not the case
and you know just to learn from all
those things as much as possible and I
find it's more so your psychology and
mindset along with the right training
and tools combining that together is
what can allow people to have a lot of
success so and to that point you know a
lot of people say like I want to make a
million dollars or I want to make you
know re all the time I would just only
if I can make ten thousand dollars a
month you know and one of my first
questions is have you ever made ten
thousand dollars a month in your life
yeah no okay you're making forty grand a
year right now let's let's figure this
out do you think the same person is who
you are right now can really handle and
can really be the person that can make
$10,000 a month the that gap from four
to ten thousand maybe there's some
slight tweaks that need to happen but
the gap from like say ten thousand to
fifty thousand or fifty thousand to a
hundred thousand etc is pretty big and
you have to become the person that you
actually need to be to run and operate a
business and as you grow you need to
we're continually investing in ourselves
by hiring coaches but going through tons
of training and really you know spending
time and quiet which is something that
most people never do anymore but you
have to become the person that is
actually needed to accomplish those
goals instead of just like thinking
about this or I can make money real
quick yeah I think that's awesome I
totally agree
clone maybe want to pick your brain a
little bit on the mindset stuff a little
bit later but just going to going back
to the process of Amazon you know a lot
of people they have their different
criteria of what they look for in terms
of a product to cells or certain things
that you look for that are you know the
most important things when deciding what
product to sell on Amazon I think yeah
there are definitely things that we look
for nowadays it's a little bit more a
little more open for us because we have
a base and we have kind of some of our
core products and we can expand our
product line from there but in general
when you're getting started it's
important to find products that are
light you know from a from a shipping
standpoint so that it's not so heavy
when it's being shipped to the customer
but another thing about it being light
is a lot of people don't take into
consideration how much it might actually
cost a ship from your supplier you know
whether it's in China or in the United
States it still can be very expensive
and you know we have a supplier in the
United States where each product is
roughly a pound and we ship them on
pallets you know to Amazon and I mean it
gets expensive even though it's going
from the u.s. to us and if you have
something in China and you're going by
sea or you're going by air the size and
the weight is very important for the
pricing so that's one thing we also look
for items that are easily you know too
easy to ship hard to kind of break and
not so much like a glass item or
something like that because we do want
to avoid that but you know I've had I
can't tell you how to friend who had
nightmares selling coconut oil because
he wanted to sell it in a glass bottle
and you know he did that because he
doesn't want the plastic to leach and
all these different things and well what
was happening is people were getting
their products and as you know when
people buy stuff on Amazon if you're
anything like me you know you buy not
just usually one thing you're buying
like a bunch of different stuff and they
usually ship it in a small package as
many packages or excuse me as little
packages as possible well he was having
issues with really pissed off customers
because the coconut oil was breaking in
shipping and destroying everything else
in their box so we avoid things that are
glass but also initially starting out I
would encourage people to steer clear of
other things that might be technical in
nature like electronics that a component
might break or something might have
issues because at the end of the day
your reputation on Amazon is
super-important the renumber reviews
that you have but also the star ratings
and the comments that people are leaving
with their reviews is really really
critical so if you have something that's
super technical in nature while it may
get broken in transit you can have
issues but also from a supplier
standpoint that could be hard as well if
you're just getting started to
understand exactly what to look for in
someone who can provide
product consistently so those are two
big things we also look at how the
products existing ly selling not just on
Amazon but online in general because for
us Amazon is only a launching platform
you know Amazon has a lot of great
potential there's other marketplaces
that they have that have incredible
potential as well and you know we like
to launch there for ease but then once
we've proven products we move them off
of Amazon as well so we can sell them
through other channels so nowadays we
really look at that
general hold market set up so we do
what's called a very simple process
called the market research report and we
simply look at the market what's
happening you know just like any big
company would actually go out and do
they would do some market research
whether you spend 30 minutes or an hour
doing it if you just take the time to go
and see what other people are doing
selling that product right now you're
going to give yourself I mean a major
advantage over most people just look at
Amazon and they just look at their
bestsellers ranking you know what some
people just look at the top 100 you know
and I mean that's to me those are all
flawed flawed concepts you know if I'm
gonna spend time do you think about it
we're talking about building a long-term
business why would i rush into choosing
a product or even choosing a market if I
sent a day or a week you know trying to
figure out the right market and the
right products is so in the grand scheme
of things it's a drop in the bucket and
I'm giving myself I'm giving my the
ability to push the boulder down the
hill instead of constantly pushing the
boulder up the hill and fighting against
myself so those are some things we look
at we also look at price point because
again we want to be premium so we look
at what price can we sell this at and
what's the market supporting currently
is there an opportunity to kind of
complement it with something that can
help you know justify a premium price
you know what what other things can we
do to enhance the actual product or
anything like that but in general again
I mean people are looking at products
that are maybe $50 or
we look at more expensive products in
general now just simply because we have
that base and you'll find if you're
selling more expensive products again
the competition is less because people
that are in the private label game are
usually starting with lower tiered
product because they don't want to spend
a lot of money on inventory and you know
that's fine we started with you know
Daniel my business partner Daniel
Odinson he started with about three
hundred and some odd dollars on his
first order of inventory I started my
first order of inventory of like seven
hundred bucks
but now now that we have this whole
process and system in a successful
business we can order a thousand units
at a time right out the gate we can
order products that might cost twenty
dollars to you know the manufacturer
cross instead of products that are two
dollars you know and again you're
reading out competition it's awesome no
you give me a lot to comment on but one
thing I want to emphasize is again just
the importance of picking the right
product and really taking your time with
that because from my experience as well
they can really make or break your
success you know and really determine
how easy or how difficult and
challenging you'll be for you Dada had a
case of a product recently I launched
well my first product I went for a very
niche market and I I think I made some
mistakes with that and it's done well
sells a few new units a day but my
second product I was blown away with how
little effort I've had to put into it
relative to the first one and how much
better its selling and yeah I you know
and I you know you learn obviously from
launching products and as time goes on
and everything as well but just really
picking the right one and I've I've
worked with a lot of people now as well
with a email me other product
opportunities now help save people a lot
of mistakes or time and money and I mean
you are going to invest your money and
time and energy into launching this
product you want it to have the most
success possible so yeah taking your
time with that is very import
yeah I mean if you think about it again
I mean you're it's the first step so if
you do the first step orally you know
all the rest of the steps are going to
be really challenging you know we kind
of teach a five pillar strategy of like
how to build an FBA business and
fifth pillar and often the most missing
link for people is how do I get traffic
you know how do I get visitors and as I
said early if you can buy customers from
more than any of your competitors you
can just totally destroy them and so the
key is if when looking at an opportunity
now if I can see opportunity to where i
can buy traffic that's it that's you
know even if the margins a little bit
smaller or the products more expensive
or the lead times longer with the
supplier that's a major opportunity
because I can then immediately get it up
turn on Amazon ad maybe turn on a few
other traffic sources and immediately
getting the visitors and the exposure
that I need to get sales and that's
critical I mean we just moved one set of
products to another Amazon Marketplace
and within the first basically the first
month now just from using one traffic
source
we're now at 12,000 pound run rate
within a month you know I mean if you
think about that like with life changing
income for somebody you know all with
just one thing very simplistic but the
product lended itself to traffic that's
awesome oh yeah I want to definitely ask
you a lot about the traffic and
marketing but one question I have for
you something you brought up a little
bit is how Amazon is the launching
platform and I think this is really
important because I think a lot of
people look at Amazon as they involve
y'all but people don't realize that you
know Amazon is great take advantage of
that but you don't necessarily want to
depend on them too much I must build
your brand if you're building your own
store shop of five you want to maybe
share a little bit the other platforms
or other opportunities beyond Amazon
sure sure so I think the first thing
again you have to kind of understand the
reasoning you know why Amazon is just
the launching platform so while Amazon
is amazing to sell products you're
leveraging all the things that we talked
about again you lose out on some of the
control just like with drop shipping
you're losing out on the control well if
Amazon all of a sudden decides they
don't like a certain category anymore of
product and they decide to remove that
you know then your SSO
well and that has happened where they
have decided oh you can't sell this
product anymore and that actually
happened to us you know I'm one thing
and Amazon then also only gives you
certain information about your customers
and as you know in an online marketing
world and business world being able to
email your customers is a huge advantage
and it that is very challenging
within Amazon you know it's hard to send
your customers direct marketing messages
for your other products which is where a
lot of the money is is you know lost so
those are a few reasons there's many
many many many but again when you're
when you're looking at the whole
business of selling physical products
Amazon is just one channel you can then
sell through Shopify or another Magento
or you know will commerce or any of
these other traditional e-commerce
platforms and I think it's really
important that once you've proven a
product or a brand to be successful that
you do do that just for the fact that
people are going to go out there and
look up your brand anyways once you
start moving any type of volume you know
I've had people tell me like oh I've
been selling a hundred thousand dollars
a month on Amazon and it finally decided
to set up my website and it looks like
crap you know in my opinion but like I
don't know why but I'm all of a sudden
making six grand a month from just from
my website and the reason is because
people are going to see if you're
legitimate they're going to see what
kind of presence you have and now
they're finding a website and a place to
buy from so they're buying there so it's
going to usually increase your revenue
kind of right off the bat but more
importantly it gives you more
opportunity because with your own
website you have the ability to track
far better because that's a downfall
with Amazon tracking is very challenging
you have the ability to really place you
know other opportunities like
retargeting pixels which open up new
opportunity from you for a marketing
standpoint it allows you to collect all
of your customer data and be able to
send them messages much more easily you
can obviously build in you can use the
Amazon same fulfillment if you like or
you could have different fulfillment but
it just gives you more opportunity but
to me the biggest opportunity is now it
gives you additional assets
so when I look at a business model I
also look at what business assets I can
build within that model because if you
can start to develop assets within that
business long term as things start to
fluctuate adapt all these assets are
going to give you an a competitive
advantage and that's one of the biggest
things I think about having your own you
know professional-looking storefront is
going to do for you and then obviously
you can move from from your own
storefront to international marketplaces
there's other channels out there to
people can sell on other sites you know
jet is coming out which is supposed to
be like an Amazon killer you know and
there's Alibaba has all these other
sites that you can sell on and their
sites internationally I mean there's
people that even sell on sites like
Sears you know and there's other
opportunities with those types of sites
as well
but those are all similar to Amazon
you'd go after them for a particular
reason but as you build this kind of
long-term business and again you always
talk about branding and building a long
term brand well if my brand eventually
grows to being sold on amazon.com amazon
japan amazon mexico canada UK my own
store i'm beans I'm sold on Sears I'm
sold on you know oh I've sold on all
these different sites do you think my
credibility is going to enhance you know
think my competitive advantage is going
to enhance anytime I release a new
product is just like there's this
perpetual effect throughout it I mean of
course you know but again that's a
long-term play and it takes time and
effort to do all those different things
but if you just focus on one and simply
start to strategically roll them out as
time allows and as your business allows
that's important because last thing I'll
just say about this is because Amazon is
the launching platform free up for us
because it's so easy to get started one
of the other biggest mistakes we see
people run into is they try to expand
too quickly and we think with Amazon you
know it helps kind of control that
expansion a little bit as long as you're
kind of move with your growth and not
I am like blow up too quickly most
people especially who are unfamiliar
with this opportunity or unfamiliar with
business in general don't understand the
concept of you can grow too fast and
implode on yourself especially for your
your startup and your funding everything
yourself you yeah you have to be very
careful because it's not I you know I
talked to my business partner about this
all the time and you look at our
business and they cost and everything
like that and one thing I'm always
reminding him is like remember that
everything that we're doing we're
funding ourselves we don't have millions
of dollars in start-up capital or
anything like that so if we do something
and it costs $10,000 it comes out of our
banking you know versus like you're just
it's money that some investor gave you
you know so I always try to keep that in
mind as well it's great so at what point
because people ask me this all the time
at what point do you think it'd be
intelligent and strategic - I guess
build the website in your own personal
store and then even perhaps you've been
going internationally in terms of the UK
or Japan or Germany Canada accession so
I think initially what people need to
focus on is they need to find one
product that is a great consistent
seller so if you're selling like five
units a day I would focus on growing
that product you know until you get to
maybe 20 30 plus units a day at a
minimum and then that one's starting to
kind of tickle Ong and what you'll find
is as you start to get to higher and
higher numbers it there's like a it's a
kind of that exponential growth curve
you know all of a sudden Amazon starts
to drive more marketing for you you
start ranking for a lot more keywords
and if it as your conversion stay the
same or grow you start to get more and
more sales so first you have to kind of
figure out where that growth is going to
be because you need to manage it what a
lot of people don't realize is if you go
from selling twenty a day to 150 a day
overnight you're most likely going to be
in some inventory issues and we like to
get to a point where you're ordering
inventory maybe three times a year at
most you know ideally like once or twice
a year so that you don't have to deal
with all the logistics of it and the
time delays so if you're growing too
fast you're going to have to start
especially if you're shipping from
overseas or
to start kind of staggering inventory to
fund it unless you have a lot of money
because what I found generally for
people is as they're growing and growing
and growing they can't get inventory
enough and running out of inventory is
one of the the biggest problems for your
Amazon kind of momentum you don't want
to ever run out of inventory so you
might have to order a thousand units
ship it by air and then if you're all of
a sudden bumped to 150 a day that's
going to last you like a week and then
so then you've got to order you know
some that are coming by sea like 5,000
units and then you got to order another
one by hair and then you know you're
you're trying to stagger it to stay in
stock and the last thing you want to do
is be worried about your inventory in UK
and having to ship some of that
inventory there so once you've kind of
got that baseline and you're kind of
getting consistent sales and you got
your inventory under control then I
would look at starting to expand and the
next expansion could be additional
products so if there's another product
when we do our market research report
and initial market testing we always
look at sourcing 2 to 3 products right
off the bat we might start with just one
but we want to have another one and then
another one already in case this first
one is kind of a dud or maybe it's like
one of your products that you mentioned
only selling a couple units a day and
doesn't do as well as we expected then
we can boom pull the trigger on the next
one it's already there so I would
encourage people to do that and then
obviously when you have two products
it's easier to sell you know I had
another guy that I was doing some just
some free kind of help with and he was
telling me you know he was selling one
product for the longest time and then he
finally decided to add another product
that product was doing insanely well and
he added another product and immediately
just like adding another adding a
Shopify store his sales went up because
people were looking at what else he was
selling and because they comp the
products were somewhat complementary
some people would buy both or some
people go oh I want to buy this product
instead of that product and he added you
know another five figures a month to his
bottom line boom right off the bat very
little effort and you know that's
important to recognize as
and then it as you start to expand
internationally we encourage you to go
slow you know if you move into the UK
it's you know it's basically a kind of a
breeze to then go to Germany in these
other places go slow you know again it
has to do with inventory we've seen
people run into issues where next thing
you know they're needing to get lines of
credit from their suppliers they're
needing to get all these different
things and remember this is a business
and that was money that you have to pay
back if all of a sudden your sales drop
then you might not be getting the the
revenue that you expected to be getting
to pay these people back and now you
know you're a little bit of a troubling
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