WEBVTT - EYL #78 Million While You’re Young feat. Joshua Crisp 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.040 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. Don't wait 0:00:30.080 --> 0:00:33.519 any longer, speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.160 to Indeed dot com slash pod katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.040 all you need. 0:00:58.720 --> 0:01:01.120 All right, guys, Welcome back E y L. 0:01:01.600 --> 0:01:06.600 Virtual Addition the first of the sorts, and this is 0:01:06.640 --> 0:01:09.680 a very very special reason special episode for a couple 0:01:09.720 --> 0:01:11.880 of different reasons. A it's the first time that we're 0:01:11.880 --> 0:01:16.080 actually going virtual. We in the age of social distancing, 0:01:16.240 --> 0:01:19.120 so we are adapting to the times like everybody else's 0:01:19.640 --> 0:01:23.280 and b it's something that we haven't covered yet, and 0:01:23.319 --> 0:01:26.080 I think it's perfect timing because we try to facilitate 0:01:26.080 --> 0:01:31.720 requests for industries and also for individuals as well when 0:01:31.720 --> 0:01:35.640 we can, and this one is actually one of the 0:01:35.680 --> 0:01:41.000 top requested for individuals and industries. So yeah, it's crazy. 0:01:41.080 --> 0:01:47.920 So Amazon FBA is huge. There's there's tons thousands of 0:01:48.040 --> 0:01:52.160 sellers on Amazon, and what FBA stands for is fulfilled 0:01:52.240 --> 0:01:56.520 by Amazon. So it's the whole industry of people that 0:01:57.320 --> 0:02:00.200 work as middleman, for lack of a better way, work 0:02:00.840 --> 0:02:03.680 to buy products and then sell it on Amazon. But 0:02:03.720 --> 0:02:08.800 they don't keep any merchandise or any products on them 0:02:09.200 --> 0:02:14.160 because it's all shipped from different locations to Amazon's warehouses. 0:02:14.160 --> 0:02:17.040 They have over one hundred warehouses and throughout the America 0:02:17.200 --> 0:02:19.920 and all over the world, and then it's shipped to 0:02:19.960 --> 0:02:21.520 the actual people that buy it. So it's a very 0:02:21.520 --> 0:02:25.480 interesting business model. So that's something I actually learned about 0:02:25.840 --> 0:02:28.520 very recently, and it's very lucrative. I found out so 0:02:28.560 --> 0:02:30.880 people he was asking for us to cover it, and 0:02:30.919 --> 0:02:34.480 then people was asking for Joshua and Chris. I kept 0:02:34.440 --> 0:02:36.639 handing his name I went to mister Graham. He got 0:02:36.960 --> 0:02:41.520 Lamborghinis and helicopters and all kinds of stuff. Rolexes. Yeah, 0:02:41.520 --> 0:02:44.920 he's living a life. So you know, it was just 0:02:44.960 --> 0:02:48.320 a perfect match. So we reached out to him and 0:02:48.360 --> 0:02:50.200 he was real, real cool about it. He said, yeah, 0:02:50.200 --> 0:02:54.960 I come on, So without further ado, Josh, pleasure to 0:02:55.000 --> 0:02:55.240 have you. 0:02:55.280 --> 0:02:58.679 Can I call you Josh? Is that cool? Joshua was Josh, Yeah. 0:02:58.520 --> 0:03:00.880 Josh is cool. I appreciate you, my brothers man, for 0:03:00.919 --> 0:03:03.240 having me. It's an honor, man, and it's a blessing 0:03:03.240 --> 0:03:05.799 to be a blessing. So I'm ready to get started, man, 0:03:05.840 --> 0:03:07.200 help as many people as we can. 0:03:07.560 --> 0:03:10.280 So let's start at the beginning, because we'd like to 0:03:10.320 --> 0:03:12.440 tell the backstory before we actually get into the business model, 0:03:12.440 --> 0:03:14.639 because I think it's important for people to understand who 0:03:14.680 --> 0:03:16.800 these people are that we actually bring on the podcast. 0:03:17.000 --> 0:03:20.119 And as I said, you're interesting because if somebody looks 0:03:20.120 --> 0:03:22.840 on your social media page now, they see all of 0:03:22.880 --> 0:03:28.320 the trappings of success, the jury, the Lamborghini, the you know, 0:03:28.480 --> 0:03:31.359 trips to Brazil. But it wasn't always like that. And 0:03:31.400 --> 0:03:33.480 I know I was watching some of your YouTube clips 0:03:33.480 --> 0:03:35.520 and you were saying that you come from humble beginnings. 0:03:36.240 --> 0:03:39.200 He was actually working I believe, like the overnight. 0:03:38.800 --> 0:03:41.120 Shit seven seven figures man. 0:03:41.200 --> 0:03:43.560 Yeah, h making seven hundred and seven dollars and twenty 0:03:43.560 --> 0:03:47.480 five cents an hour overnight, pretty much shorting trash. So 0:03:48.480 --> 0:03:50.760 you know, it's crazy that you went from that to 0:03:51.120 --> 0:03:54.560 becoming a millionaire in a very short period of time. 0:03:54.760 --> 0:03:56.240 So can we get. 0:03:56.080 --> 0:03:58.080 Into the backstory of how you got to this point 0:03:58.240 --> 0:04:00.920 and what really introduced you to Amazon seller? 0:04:01.200 --> 0:04:03.800 Yeah? Absolutely, So, like we were just talking about, people 0:04:03.840 --> 0:04:05.920 see the shine, but they don't see the grind, and 0:04:06.240 --> 0:04:08.360 it hurt. Like I felt the anxiety as you were 0:04:08.360 --> 0:04:12.000 talking about it because I remember vividly. The reason why 0:04:12.040 --> 0:04:14.640 I go so hard today is because I remember vividly 0:04:14.760 --> 0:04:17.360 sleeping on that air mattress in that one bedroom apartment, 0:04:17.640 --> 0:04:21.159 you know, volunteering at the Salvation Army for for can 0:04:21.160 --> 0:04:23.359 goods and for bread for my family, and you know, 0:04:23.520 --> 0:04:27.159 volunteering at the Center Township, literally pressure washing gum off 0:04:27.160 --> 0:04:30.840 the sidewalk at the Center Hall for vouchers to pay 0:04:30.839 --> 0:04:33.120 my rent. So, like, I get a little anxiety when 0:04:33.160 --> 0:04:34.760 you talk about it because I remember that, and I 0:04:34.800 --> 0:04:36.960 always made a vow to myself I would never forget 0:04:37.040 --> 0:04:39.560 where I was. That way, when I get where I 0:04:39.600 --> 0:04:41.920 am that I always be grateful and humble. So it's 0:04:41.960 --> 0:04:44.560 just like bringing that back is like flashback, like a 0:04:44.560 --> 0:04:47.440 little PTSD but back in the day, Like I always 0:04:47.480 --> 0:04:50.080 had a like a hustle ambition about me. Like even 0:04:50.120 --> 0:04:51.920 when I was young and in school, I used to 0:04:52.000 --> 0:04:55.640 hustle candy, chips, little bags and chips, all types of 0:04:55.680 --> 0:04:57.880 stuff to just hustle coming up from you know where 0:04:57.880 --> 0:04:59.960 I was at and the way that I came up, 0:05:00.320 --> 0:05:02.520 and I just always loved hustling, Like I was selling 0:05:02.560 --> 0:05:07.720 baseball cards, candy, like anything right, and where I was at, 0:05:08.000 --> 0:05:10.560 you know, I was around the wrong crowd and stuff. 0:05:10.600 --> 0:05:12.919 And back then there's not much that you could do 0:05:12.960 --> 0:05:14.960 to make money. So I was always trying to find 0:05:14.960 --> 0:05:17.320 ways to make money, and I was around the wrong crowd, 0:05:17.360 --> 0:05:19.120 and you know, I ended up even felling at the 0:05:19.120 --> 0:05:21.839 age of eighteen, like I was a high school dropout. 0:05:22.040 --> 0:05:24.240 I was raised by a single mother at the time 0:05:24.320 --> 0:05:27.080 we were struggling. I was like my mind wasn't on school. 0:05:27.080 --> 0:05:28.760 It was on like how can I help my mom out? 0:05:28.839 --> 0:05:31.200 How can I provide? So you know, I ended up 0:05:31.240 --> 0:05:34.120 making some wrong decisions and you know, becoming a fellon 0:05:34.160 --> 0:05:36.960 at an early age and had multiple children. So I 0:05:37.000 --> 0:05:39.240 say that to say, like I had nothing else that 0:05:39.240 --> 0:05:41.120 I could do. So at that age, I was working 0:05:41.520 --> 0:05:45.040 for a temp agent called Spartan Staffing for a company 0:05:45.080 --> 0:05:48.560 called Finitech and I would literally handstort through trash for 0:05:48.640 --> 0:05:50.760 bare minimum wage. That's why, like if you guys see 0:05:50.839 --> 0:05:53.400 like the podcast or the YouTube, it's the story of 0:05:53.440 --> 0:05:55.800 seven twenty five to seven figures. I was literally making 0:05:55.839 --> 0:05:58.760 minimum wage. And I met my wife who we went 0:05:58.800 --> 0:06:00.640 to school with, but we really did know each other 0:06:00.640 --> 0:06:02.479 in school. And I met my wife through a mutual 0:06:02.640 --> 0:06:04.840 friend and I would go to pick her up and 0:06:04.920 --> 0:06:07.800 just go to see her on her lunch. And her 0:06:07.880 --> 0:06:10.480 boss was an older gentleman right, and he was always 0:06:10.480 --> 0:06:13.359 reading old school, just always reading the newspaper, always online, 0:06:13.400 --> 0:06:16.040 just reading news articles. And I would just explain to 0:06:16.120 --> 0:06:17.839 him like yo, like I want to own a business 0:06:17.880 --> 0:06:19.240 like you, and I want to be able, like this 0:06:19.279 --> 0:06:21.159 is where I'm at, and I know that you know, 0:06:21.240 --> 0:06:24.039 my current situation, you know, doesn't have to be my 0:06:24.120 --> 0:06:26.400 final destination. I want to do something like you, like 0:06:26.480 --> 0:06:28.360 own a business. So he ended up being like my 0:06:28.839 --> 0:06:30.720 first mentor. I didn't even know what a mentor. I 0:06:30.760 --> 0:06:32.560 was like, he's an old head. He's got a business. 0:06:32.880 --> 0:06:34.680 Even though he's not rich, he doesn't have to work 0:06:34.720 --> 0:06:37.120 for someone else. So I was always talking to him, 0:06:37.120 --> 0:06:39.200 and he was always reading the newspaper, and he was 0:06:39.240 --> 0:06:42.359 talking about Amazon, like I think e commerce is the 0:06:42.400 --> 0:06:44.680 new wave of the future. This is in twenty fourteen, 0:06:44.880 --> 0:06:47.159 so this is like six years ago. And he was 0:06:47.160 --> 0:06:49.359 talking about Jeff Bezos and what he was doing and 0:06:49.400 --> 0:06:51.400 how he thinks this is going to be the wave. 0:06:52.040 --> 0:06:54.160 And he was just always just putting it in my ear. 0:06:54.400 --> 0:06:56.080 And you know how I was trying to do so 0:06:56.160 --> 0:06:58.360 many different things, trying to do all these side hustles 0:06:58.400 --> 0:07:00.640 and stuff to make money because I was working third 0:07:00.680 --> 0:07:02.600 shift seven pm to three am. I didn't get to 0:07:02.600 --> 0:07:04.839 see my family. So I was trying to hustle stuff. 0:07:04.960 --> 0:07:07.400 I was selling clothing, I was cutting grass, I was 0:07:07.440 --> 0:07:09.880 doing whatever, like I tried to start a long care company, 0:07:10.120 --> 0:07:12.160 like anything I could do, just to hustle to make 0:07:12.200 --> 0:07:14.200 some money. That's all I knew. And he told me 0:07:14.240 --> 0:07:16.800 about this Amazon thing, and I really dived in. Like 0:07:16.840 --> 0:07:18.480 I didn't even have a computer. I would walk to 0:07:18.520 --> 0:07:21.840 the library to do research and the rest is history. 0:07:21.880 --> 0:07:25.440 Like I learned about Amazon, I tried, I tried, I tried, 0:07:25.440 --> 0:07:28.520 I kept failing, And after the three failed products, the 0:07:28.560 --> 0:07:31.720 fourth one was a home run product. It changed my life. 0:07:32.000 --> 0:07:35.320 So that's like a whole, like three years story, like 0:07:35.360 --> 0:07:38.120 in like five minutes, but that's how it started. Man. 0:07:38.440 --> 0:07:41.760 Now, Josh, I've been an Amazon member for about that time. 0:07:41.840 --> 0:07:44.400 But what turned you on to the FBA side of it? 0:07:44.480 --> 0:07:47.440 So the FBA side of it, fulfillment by Amazon is 0:07:47.440 --> 0:07:50.560 what FBA is is one of the best ways that, 0:07:50.600 --> 0:07:52.800 in my personal opinion, you can sell on Amazon. So 0:07:52.800 --> 0:07:55.120 there's a few different types of ways to sell on Amazon. 0:07:55.160 --> 0:07:57.800 I'm glad you asked that question. Like I previously said, 0:07:57.800 --> 0:08:00.160 I was hustling stuff. So when I was going going 0:08:00.200 --> 0:08:02.480 online trying to find ways to make money, I found 0:08:02.480 --> 0:08:05.320 out about arbitrage, which is another way you can sell online, 0:08:05.320 --> 0:08:08.720 which is where you take brand name products that already exist, 0:08:08.960 --> 0:08:12.320 large brand name products, you buy them at a discounted price. 0:08:12.360 --> 0:08:15.080 So if they're on sale or they're at the thrift 0:08:15.080 --> 0:08:17.800 store or something like that, and they're below MSRP, which 0:08:17.840 --> 0:08:21.280 is manufactured suggested retail pricing, you buy it at that 0:08:21.360 --> 0:08:23.240 discount and you sell it at full price and you 0:08:23.320 --> 0:08:25.760 keep the difference. So I was already doing that. I 0:08:25.800 --> 0:08:27.280 was taking my little bit of money and I was 0:08:27.360 --> 0:08:30.280 going to the Salvation Army and trying to find designer clothing, 0:08:30.600 --> 0:08:33.320 and I was reselling it on eBay for that full markup. 0:08:33.480 --> 0:08:35.280 And I was doing the same with Amazon. I was 0:08:35.320 --> 0:08:39.000 trying to find stuff online discounts coupons and buy it 0:08:39.160 --> 0:08:41.400 on sale and sell it at full price and keep 0:08:41.400 --> 0:08:43.760 the difference. So when he told me about Amazon and 0:08:43.800 --> 0:08:47.800 I started researching and learning about Amazon, I learned about arbitrage, 0:08:47.800 --> 0:08:49.360 and I knew that you could do it on Amazon. 0:08:49.400 --> 0:08:52.000 But that was like a hustle. I wanted a real 0:08:52.080 --> 0:08:53.920 business that was going to work for me, because my 0:08:53.960 --> 0:08:56.760 mentor always told me that the true key to success 0:08:56.800 --> 0:08:58.640 is to have your money work for you without you 0:08:58.800 --> 0:09:01.120 working for it. Like he told me, like, you got 0:09:01.120 --> 0:09:03.800 to eliminate the hustle mentality, like, of course you got 0:09:03.840 --> 0:09:07.000 to hustle to get things started, but the end you 0:09:07.040 --> 0:09:08.920 should have the end in mind in the beginning, and 0:09:08.960 --> 0:09:10.720 the end is to have your business work for you 0:09:10.800 --> 0:09:13.160 without you working for it. He was always telling me 0:09:13.200 --> 0:09:15.839 about less touches and to work on your business, not 0:09:16.040 --> 0:09:18.199 for your business. So when I was looking at these 0:09:18.200 --> 0:09:20.240 different methods, I was like, I'm already doing this and 0:09:20.280 --> 0:09:23.520 I'm still hustling stuff and it's not sustainable. Like at 0:09:23.520 --> 0:09:25.439 that time, I didn't know what sustainable was. But he 0:09:25.480 --> 0:09:27.720 would break things down to me, like, you need something 0:09:27.720 --> 0:09:29.680 that you can sell over and over and over again. 0:09:29.760 --> 0:09:32.320 What you're doing is making you some fast cash. But 0:09:32.400 --> 0:09:35.040 you can't find these clothes on sale. You can't find 0:09:35.040 --> 0:09:38.000 these products on sale all the time. So when looking 0:09:38.040 --> 0:09:40.839 at these different methods and stuff in business, I said, 0:09:40.960 --> 0:09:43.000 you know what, like the light really the light bulb 0:09:43.080 --> 0:09:45.120 really went off. I'm like these large brands like beat 0:09:45.200 --> 0:09:48.560 by Dre or Apple, these large brands are finding products 0:09:48.600 --> 0:09:51.400 that have demand that people need that they're buying every 0:09:51.440 --> 0:09:55.480 single day, irregardless of the day, the month, the age, 0:09:55.559 --> 0:09:58.960 the gender, and they're using Amazon to sell it. Right. 0:09:59.080 --> 0:10:01.160 They don't need a physical store. You you don't need 0:10:01.200 --> 0:10:03.120 to do this. You don't need to make some special product. 0:10:03.120 --> 0:10:05.600 And there's products that people are gonna continuously need. So 0:10:05.640 --> 0:10:07.560 that's when I learned the difference between the two and 0:10:07.600 --> 0:10:10.760 I dove in to FBA, which is private label, so 0:10:10.880 --> 0:10:14.840 you can sell on Amazon arbitrage, private label, or wholesale. 0:10:14.840 --> 0:10:18.240 These are different business strategies, but the strategy that I 0:10:18.280 --> 0:10:21.319 actually sell right the business model is called private labeling. 0:10:21.600 --> 0:10:25.240 So instead of selling other people's products, large brand name products, 0:10:25.520 --> 0:10:28.520 we find products that people want that have high demand, 0:10:28.559 --> 0:10:31.640 low competition, and we create our own brands and then 0:10:31.640 --> 0:10:34.040 we sell them. So that's what I specifically do for sure. 0:10:34.120 --> 0:10:38.160 So can we get into it the basic basic ground 0:10:38.240 --> 0:10:41.719 level one oh one explanation of what is FBI. I 0:10:41.800 --> 0:10:44.400 understand that you're selling and its fulfilled by Amazon. You 0:10:44.600 --> 0:10:47.600 sell of Amazon, but what does it actually entail? Can 0:10:47.640 --> 0:10:49.960 you give the one oh one on the situation? 0:10:50.080 --> 0:10:52.800 Yeah? Yeah, So FBA is fulfillment by Amazon. And this 0:10:52.880 --> 0:10:55.200 is how to hold. Like a bird's eye view looking down, 0:10:55.240 --> 0:10:57.600 this is a hold how the whole business works. So 0:10:57.640 --> 0:11:00.600 we find these products. Once we find these products, we're 0:11:00.640 --> 0:11:03.600 going to find a supplier, rather in the US or overseas, 0:11:04.280 --> 0:11:06.320 doesn't matter where the supplier is at. The supplier is 0:11:06.320 --> 0:11:09.600 going to make our product. Once that supplier makes our product, 0:11:09.800 --> 0:11:12.040 they're gonna ship it directly to Amazon. And this is 0:11:12.040 --> 0:11:14.880 where the FBA kicks and the fulfillment by Amazon. Once 0:11:14.920 --> 0:11:19.000 Amazon receives that product in their warehouse, they're gonna facilitate it, 0:11:19.040 --> 0:11:21.959 but then they're going to disperse it to other Amazon warehouses. 0:11:22.200 --> 0:11:24.959 And that's how they can ship products, and it can 0:11:24.960 --> 0:11:28.480 be Prime eligible, which like eighty percent high eighty percent 0:11:28.520 --> 0:11:31.240 of everybody who shops on Amazon or Prime members, so 0:11:31.280 --> 0:11:33.760 over one hundred and fifty million Prime members in the US. 0:11:34.040 --> 0:11:37.360 And basically that means whenever we go online on Amazon 0:11:37.400 --> 0:11:39.719 and shop, we get our products to our doorsteps in 0:11:39.760 --> 0:11:42.960 two days. So Amazon facilitates it, disperses it to other 0:11:43.000 --> 0:11:46.480 Amazon locations, and then when consumers people like me and you, 0:11:46.520 --> 0:11:50.280 go buy products online, Amazon picks it, They pack it, 0:11:50.480 --> 0:11:53.079 they wrap it, use their own boxes, their own labels, 0:11:53.120 --> 0:11:56.480 their own workforce. You know, it's under their warehouse, and 0:11:56.520 --> 0:11:58.920 then they ship it directly to customers. And if we 0:11:58.960 --> 0:12:00.880 get it and we're like, yo, this isn't what we wanted, 0:12:01.040 --> 0:12:04.480 or you know, it was warehouse damaged, or they just 0:12:04.520 --> 0:12:07.240 decided they don't want it anymore. Amazon even handles the 0:12:07.280 --> 0:12:09.600 customer service. So literally all we do is we find 0:12:09.600 --> 0:12:12.800 the products, we find the supplier, and we manage our 0:12:12.800 --> 0:12:15.280 inventory in our advertising, which is all done from the 0:12:15.320 --> 0:12:19.520 seller central portal, which Amazon created, and that's like the 0:12:19.559 --> 0:12:21.600 bird's eye view of how the whole system works. 0:12:21.640 --> 0:12:25.120 So the products aren't like company products that actually just 0:12:25.800 --> 0:12:29.880 random products and you're labeling it under your company. That's 0:12:29.920 --> 0:12:32.160 kind of what I'm understanding. So can you give us 0:12:32.200 --> 0:12:35.320 an example of, like what kind of products that would 0:12:35.360 --> 0:12:35.840 entail for this? 0:12:35.920 --> 0:12:37.959 Yeah? Absolutely, so I got I got like they're all 0:12:38.000 --> 0:12:40.040 around the house. So this little lent roller like I've 0:12:40.080 --> 0:12:41.920 just used before the interview to get the lint off 0:12:41.960 --> 0:12:44.240 my shirt. We would find a product like this, like 0:12:44.280 --> 0:12:47.320 there's no label on this anywhere, and let's just say 0:12:47.320 --> 0:12:50.880 that there's a huge brand. Just because a huge brand 0:12:51.000 --> 0:12:53.720 sells this product doesn't mean that we can't sell this product. 0:12:53.960 --> 0:12:55.960 You just can't sell it as them if you're not 0:12:56.000 --> 0:12:58.640 a licensee. So we would find a product that people 0:12:58.679 --> 0:13:00.920 have a demand for, that people are going to use 0:13:00.960 --> 0:13:03.720 every single day, irregardless of where they live, how old 0:13:03.760 --> 0:13:07.160 they are, gender, et cetera. And then we would create 0:13:07.240 --> 0:13:10.200 our own brand, so now it would be private labeled 0:13:10.200 --> 0:13:12.160 by our brand. We would put our brand on it, 0:13:12.360 --> 0:13:14.240 we would ship it directly to Amazon and they do 0:13:14.320 --> 0:13:16.440 the rest. See what like a lot of people don't know, 0:13:16.480 --> 0:13:18.160 Like when you think of like when you need to 0:13:18.160 --> 0:13:19.960 blow your nose, you say, hey, can you pass me 0:13:20.000 --> 0:13:22.960 that Kleenex? Right? Kleenex is a brand. The name of 0:13:22.960 --> 0:13:26.240 the product is tissue, right, So that and that's like 0:13:26.320 --> 0:13:28.000 brand note a writing. That's what we do is we 0:13:28.040 --> 0:13:31.520 try to become APEX predators for these different categories, saying 0:13:31.640 --> 0:13:33.840 like when you get out the shower, use a Q tip, Right, 0:13:33.960 --> 0:13:36.679 it's actually a cotton swab. Q Tip's the brand name. 0:13:36.720 --> 0:13:39.280 It's a private label brand name. So we find these 0:13:39.320 --> 0:13:42.720 products that people need and we try to become household names. 0:13:42.760 --> 0:13:45.520 We just find ways to differentiate them and prove them 0:13:45.920 --> 0:13:49.480 and to gain market share through differentiating the products. And 0:13:49.520 --> 0:13:50.080 that's what we do. 0:13:50.200 --> 0:13:51.920 So you put your logo on it, you put your 0:13:51.960 --> 0:13:54.440 brand on it. But after that it comes to a 0:13:54.440 --> 0:13:56.680 manufacturing standpoint, Like what's that process like? 0:13:56.800 --> 0:13:59.000 So once we find a product, so first we want 0:13:59.040 --> 0:14:01.720 to verify in validate the product before we even order it. 0:14:01.760 --> 0:14:03.880 So a few things we do is make sure it's 0:14:03.880 --> 0:14:05.959 not a seasonal product. So I don't know if y'all 0:14:06.000 --> 0:14:07.600 got kids, but I got kids, and we had these 0:14:07.640 --> 0:14:10.920 fidget spinner things all around the house. Right, that's a 0:14:10.960 --> 0:14:13.120 trending product. It went up like this, and just as 0:14:13.200 --> 0:14:15.560 quick as it went up, it knows dives. So once 0:14:15.600 --> 0:14:19.400 we verify that it's not a trending product, we move 0:14:19.440 --> 0:14:21.200 forward and you can go to Google Trends. It's a 0:14:21.240 --> 0:14:23.400 free tool. Type in the name of your product and 0:14:23.440 --> 0:14:25.960 you can look at a historical chart, so it'll show you, like, 0:14:26.240 --> 0:14:28.960 for the last five years, ten years, has this product 0:14:29.040 --> 0:14:31.360 been selling every day? So once you identify it's going 0:14:31.440 --> 0:14:33.120 to sell every single day, because that's what we want. 0:14:33.160 --> 0:14:34.800 We don't want to hit or miss. We want something 0:14:34.840 --> 0:14:37.320 that's going to make money every single day. After we 0:14:37.800 --> 0:14:40.520 knock out the trending, then we look at the seasonality 0:14:40.640 --> 0:14:42.800 so we can go on Google Trends again. If it's 0:14:42.840 --> 0:14:46.880 only selling towards October like pumpkin carving kit, or November 0:14:46.880 --> 0:14:50.120 and December like Christmas lights, then it's a seasonal product. 0:14:50.120 --> 0:14:52.680 We don't want that. We want January through December. So 0:14:52.760 --> 0:14:54.960 after we do these little things to verify and validate 0:14:55.000 --> 0:14:57.120 that product, we go to ali Baba, which is where 0:14:57.120 --> 0:14:59.440 we find the suppliers. It's free to use ali Baba. 0:14:59.480 --> 0:15:02.480 You don't need any type of special account nothing like that, 0:15:02.760 --> 0:15:04.160 and we're gonna go and type in the name of 0:15:04.160 --> 0:15:06.600 our product, so just we would type in lent roller 0:15:06.640 --> 0:15:09.680 into ali Baba, it's gonna show all these manufacturers. We 0:15:09.720 --> 0:15:11.680 want to reach out to the manufacturer and we want 0:15:11.680 --> 0:15:13.920 to do our due diligence and make sure that they're 0:15:13.920 --> 0:15:16.040 one hundred. So how long have they been in business, 0:15:16.080 --> 0:15:18.120 how many employees do they have, what is their gross 0:15:18.120 --> 0:15:21.560 annual revenue, how many star ratings do they have. Look 0:15:21.560 --> 0:15:24.240 at them on Better Business Bureau and prevet them to 0:15:24.240 --> 0:15:26.520 make sure that they're legit. And then that's where you 0:15:26.560 --> 0:15:29.720 do your negotiating. Once you come to a conclusion on 0:15:29.760 --> 0:15:31.960 the price, you guys agree on a price, you found 0:15:32.000 --> 0:15:34.840 a manufacturer, you're gonna give them thirty percent down on 0:15:34.880 --> 0:15:38.480 the product, so that starts and initiates the manufacturing. Once 0:15:38.520 --> 0:15:42.080 the manufacturing's done, you pay the rest. Once you pay 0:15:42.080 --> 0:15:44.440 the rest, they're gonna go ahead and ship the product 0:15:44.440 --> 0:15:48.040 directly to Amazon, so they're gonna handle getting it through customs. 0:15:48.440 --> 0:15:50.640 They're gonna find the freight forward or everything for you. 0:15:51.360 --> 0:15:54.000 It's gonna be shipped directly overseas if you're using a 0:15:54.080 --> 0:15:57.160 China supplier and be checked in by Amazon. If you're 0:15:57.240 --> 0:16:00.320 using US supplier, then it's from the supplier's warehouse directly 0:16:00.320 --> 0:16:03.240 to Amazon. Then Amazon checks it in and you go 0:16:03.320 --> 0:16:05.480 back to that other process, right they pick it, packet, 0:16:05.560 --> 0:16:06.960 ship it, handle returns. 0:16:07.040 --> 0:16:09.400 So when you're in Google Trends, from what I read, 0:16:09.480 --> 0:16:11.560 you want to find products that have high demand and 0:16:11.600 --> 0:16:14.680 low competition. Is there a certain statistic or a metric 0:16:14.760 --> 0:16:16.560 that you use when you're trying to find that. 0:16:16.760 --> 0:16:17.720 Yeah, so we use. 0:16:17.680 --> 0:16:20.440 Google Trends for seasonality and to see if it's a 0:16:20.480 --> 0:16:21.240 trending product. 0:16:21.320 --> 0:16:23.280 Can you explain what Google Trends are. 0:16:23.440 --> 0:16:26.880 Yeah. So Google Trends is a website owned by Google. 0:16:26.880 --> 0:16:30.680 It's a free tool owned by Google, and it's a 0:16:30.720 --> 0:16:33.480 way to measure analytics on products. So if you go 0:16:33.520 --> 0:16:37.720 to Google Trends, it's products, celebrities, countries. You can go 0:16:37.760 --> 0:16:39.440 and type into anything and it's going to show you 0:16:39.480 --> 0:16:42.440 like historical charts and analytics on that thing. If you 0:16:42.440 --> 0:16:44.160 go to a movie, it'll show you when the movie 0:16:44.240 --> 0:16:47.200 was created, how long the movie's been out, how many sales. 0:16:47.400 --> 0:16:49.000 If you go and put a product in it, it'll 0:16:49.000 --> 0:16:51.760 tell you the first time the product showed up, how 0:16:51.760 --> 0:16:54.520 long it's been around, how many people on Google are 0:16:54.520 --> 0:16:56.280 going to type for this product. And the reason why 0:16:56.360 --> 0:16:59.400 we use Google Trends is because Amazon is a search 0:16:59.480 --> 0:17:02.480 engine just like Google, and Google's the largest search engine. 0:17:02.520 --> 0:17:06.080 So even though it's not Amazon direct metrics, it's very 0:17:06.119 --> 0:17:09.320 similar and very close because Google is a huge search engine. 0:17:09.480 --> 0:17:11.800 So we go and we find that data from Google Trends, 0:17:11.840 --> 0:17:14.600 and that's how we find out, Hey, this products selling, 0:17:14.680 --> 0:17:17.440 you know, twelve months out the year. This product has 0:17:17.600 --> 0:17:20.240 depth of market, meaning it didn't just spike like the 0:17:20.240 --> 0:17:22.159 fidget spinner. Like if you go and type this product 0:17:22.160 --> 0:17:23.879 and you're going to see for the last ten years, 0:17:24.119 --> 0:17:26.440 it's been selling every single day. It's been selling every 0:17:26.480 --> 0:17:28.720 single month. So we want to see a nice horizontal 0:17:28.800 --> 0:17:31.119 chart when we look for products that have high demand 0:17:31.119 --> 0:17:34.800 low competition. There's no exact metric that's going to say like, hey, 0:17:34.840 --> 0:17:37.560 this product has high demand, low competition. What we want 0:17:37.560 --> 0:17:39.000 to look for is we want to go directly to 0:17:39.080 --> 0:17:41.320 Amazon and type in the name of the product, and 0:17:41.359 --> 0:17:43.280 when we're looking at all the different sellers, we want 0:17:43.280 --> 0:17:45.840 to see how many of those sellers have under one 0:17:45.880 --> 0:17:49.359 hundred reviews, have under two hundred reviews that are still selling. 0:17:49.480 --> 0:17:52.000 You know, ten plus units a day. If you're selling 0:17:52.040 --> 0:17:54.400 ten plus units a day, that's three hundred units a month. 0:17:54.440 --> 0:17:56.680 So that's like the bare minimum metric I look for. 0:17:56.840 --> 0:17:58.840 So that would equal low competition, and that's how we 0:17:58.920 --> 0:18:01.240 identify if it has high dead man low competition. Right. 0:18:01.280 --> 0:18:04.399 Another way is there's something called BSRO, which stands for 0:18:04.520 --> 0:18:07.480 best seller Ranking. If you're on an Amazon listing and 0:18:07.520 --> 0:18:12.080 you scroll down, you'll actually see category and then subcategory. 0:18:12.160 --> 0:18:16.160 So category may be home products, subcategory may be lent roller, right, 0:18:16.359 --> 0:18:18.640 and then it'll have a number next to it. That's 0:18:18.640 --> 0:18:21.600 the BSR Bestseller Ranking. So that's based out of a 0:18:21.720 --> 0:18:24.600 million out of let's just say there's a million sellers. 0:18:24.800 --> 0:18:27.280 It's based out of all million sellers. So we look 0:18:27.320 --> 0:18:29.760 at that listing and it's number ten. That's one of 0:18:29.760 --> 0:18:32.760 the top selling products. So we'll look at that competitor. 0:18:32.760 --> 0:18:35.080