How do you take your business from $100,000 to $1,000,000? It’s called Scaling up your business and it’s a process. First you’ve got to successfully market a product on Amazon. Set a goal of $10k per month. Once you’ve achieved that goal then it’s time to start adding more products. Add another 2 products, then 5 and make your way to 10 products. If they’re good products with excellent trend potential, you’ll hit your goals. But don’t forget that you’re going to have rank on the search engines. And there’s a lot of other things you’ll have to do. Once you have 10 products selling, you’re going to need put systems in place for running your business, but that’s another lesson for another day.
Before getting involved with Amazon and online marketing, Mike was a dedicated real estate investor. He made a fortune purchasing foreclosures at auction, flipping them and then repeating the process. Finally, he accumulated a portfolio of rental properties. The problem with rental properties, management issues aside, is that the returns while respectable aren’t stellar. That’s why he jumped at the Amazon opportunities. His returns are multiples higher than what he achieved in very successful real estate investing. And that’s why he’s teaching you how to do it too. There’s plenty of opportunity for everyone.
Many of you have asked about FBA – fulfillment by Amazon. Amazon has effectively opened their retail platform to third party sellers. You as a seller send your product directly to Amazon’s fulfillment centers. You prepare the product listing on Amazon’s site and they do all the rest. You don’t need a warehouse, customer service staff, return processing or any of the other departments a non-FBA seller would require. This allows you to concentrate on finding the right products and effectively marketing them. You get all the benefits of having your own online business with none of the burdens. That’s what makes it so great and potentially very profitable.
Using AmazonProductFinder.com to identify product opportunities, you’ll find a product and be able to tell if it’s selling well, competitive situation and profitability. Now that you’ve found your product, assuming you have, what’s next? First identify the successful sellers. Product pioneers get arrows in their back. First, does the product sell well? Assuming it does, then you need to figure out if you can compete? Finally, is there an adequate margin that will insure your profitability. The goal is to get to $1000 per day. Just focus on the system and you’ll be sure to succeed.
Mike notes that many first time Amazon sellers have zero digital marketing experience. The key is to follow Mike’s system and learn how to use the tools available to master the digital marketing experience. Using keywords, understanding the search engine and then going on to buy the best searches at the most affordable rates. Properly framing your listing titles can be your key to amazing sales. Mike shares application resources that will help you identify the keywords that work.
Mike is back to help you succeed. You’ve decided you want to sell on Amazon, but now the question is what to sell? Mike helps to take the guess work out of that process with AmazonProductFinder.com. Using this tool you can find big selling products with high margins. There’s several other ways to find these products and Mike goes through them. The upshot is that before you even think of selling a product, you must do your research. You can do it manually, but why not pay a small price for the software and let it do the grunt work for you? Mike lays it all out for you in very easy to understand terms.
Mike knows that a major cost in doing an Amazon Store is shipping, the cost of getting the product from Asian Factory to Amazon. Nearly 50% of our product’s total all-in cost, went to shipping. Now, Mike is chartering containers monthly from Shanghai to the US. From there the container goes to a customs clearing agent. The agent then forwards it to Amazon’s facility. The cost savings is remarkable, coming in at least 70% below current costs. For our products, we could realize savings of over $2,000 per shipment. This savings goes right to the bottom line, pure profit.
He discussed using influencers to promote products. Also, we discussed the importance of packaging; just like clothes can make the man, so too can packaging make the product. In the past 18 months, Mike has truly become a merchandising dynamo.