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Speaker 2: All right, guys, Welcome back E y L.
Speaker 3: Virtual Addition the first of the sorts, and this is
Speaker 3: a very very special reason special episode for a couple
Speaker 3: of different reasons. A it's the first time that we're
Speaker 3: actually going virtual. We in the age of social distancing,
Speaker 3: so we are adapting to the times like everybody else's
Speaker 3: and b it's something that we haven't covered yet, and
Speaker 3: I think it's perfect timing because we try to facilitate
Speaker 3: requests for industries and also for individuals as well when
Speaker 3: we can, and this one is actually one of the
Speaker 3: top requested for individuals and industries. So yeah, it's crazy.
Speaker 3: So Amazon FBA is huge. There's there's tons thousands of
Speaker 3: sellers on Amazon, and what FBA stands for is fulfilled
Speaker 3: by Amazon. So it's the whole industry of people that
Speaker 3: work as middleman, for lack of a better way, work
Speaker 3: to buy products and then sell it on Amazon. But
Speaker 3: they don't keep any merchandise or any products on them
Speaker 3: because it's all shipped from different locations to Amazon's warehouses.
Speaker 3: They have over one hundred warehouses and throughout the America
Speaker 3: and all over the world, and then it's shipped to
Speaker 3: the actual people that buy it. So it's a very
Speaker 3: interesting business model. So that's something I actually learned about
Speaker 3: very recently, and it's very lucrative. I found out so
Speaker 3: people he was asking for us to cover it, and
Speaker 3: then people was asking for Joshua and Chris. I kept
Speaker 3: handing his name I went to mister Graham. He got
Speaker 3: Lamborghinis and helicopters and all kinds of stuff. Rolexes. Yeah,
Speaker 3: he's living a life. So you know, it was just
Speaker 3: a perfect match. So we reached out to him and
Speaker 3: he was real, real cool about it. He said, yeah,
Speaker 3: I come on, So without further ado, Josh, pleasure to
Speaker 3: have you.
Speaker 2: Can I call you Josh? Is that cool? Joshua was Josh, Yeah.
Speaker 4: Josh is cool. I appreciate you, my brothers man, for
Speaker 4: having me. It's an honor, man, and it's a blessing
Speaker 4: to be a blessing. So I'm ready to get started, man,
Speaker 4: help as many people as we can.
Speaker 3: So let's start at the beginning, because we'd like to
Speaker 3: tell the backstory before we actually get into the business model,
Speaker 3: because I think it's important for people to understand who
Speaker 3: these people are that we actually bring on the podcast.
Speaker 3: And as I said, you're interesting because if somebody looks
Speaker 3: on your social media page now, they see all of
Speaker 3: the trappings of success, the jury, the Lamborghini, the you know,
Speaker 3: trips to Brazil. But it wasn't always like that. And
Speaker 3: I know I was watching some of your YouTube clips
Speaker 3: and you were saying that you come from humble beginnings.
Speaker 3: He was actually working I believe, like the overnight.
Speaker 5: Shit seven seven figures man.
Speaker 3: Yeah, h making seven hundred and seven dollars and twenty
Speaker 3: five cents an hour overnight, pretty much shorting trash. So
Speaker 3: you know, it's crazy that you went from that to
Speaker 3: becoming a millionaire in a very short period of time.
Speaker 2: So can we get.
Speaker 3: Into the backstory of how you got to this point
Speaker 3: and what really introduced you to Amazon seller?
Speaker 4: Yeah? Absolutely, So, like we were just talking about, people
Speaker 4: see the shine, but they don't see the grind, and
Speaker 4: it hurt. Like I felt the anxiety as you were
Speaker 4: talking about it because I remember vividly. The reason why
Speaker 4: I go so hard today is because I remember vividly
Speaker 4: sleeping on that air mattress in that one bedroom apartment,
Speaker 4: you know, volunteering at the Salvation Army for for can
Speaker 4: goods and for bread for my family, and you know,
Speaker 4: volunteering at the Center Township, literally pressure washing gum off
Speaker 4: the sidewalk at the Center Hall for vouchers to pay
Speaker 4: my rent. So, like, I get a little anxiety when
Speaker 4: you talk about it because I remember that, and I
Speaker 4: always made a vow to myself I would never forget
Speaker 4: where I was. That way, when I get where I
Speaker 4: am that I always be grateful and humble. So it's
Speaker 4: just like bringing that back is like flashback, like a
Speaker 4: little PTSD but back in the day, Like I always
Speaker 4: had a like a hustle ambition about me. Like even
Speaker 4: when I was young and in school, I used to
Speaker 4: hustle candy, chips, little bags and chips, all types of
Speaker 4: stuff to just hustle coming up from you know where
Speaker 4: I was at and the way that I came up,
Speaker 4: and I just always loved hustling, Like I was selling
Speaker 4: baseball cards, candy, like anything right, and where I was at,
Speaker 4: you know, I was around the wrong crowd and stuff.
Speaker 4: And back then there's not much that you could do
Speaker 4: to make money. So I was always trying to find
Speaker 4: ways to make money, and I was around the wrong crowd,
Speaker 4: and you know, I ended up even felling at the
Speaker 4: age of eighteen, like I was a high school dropout.
Speaker 4: I was raised by a single mother at the time
Speaker 4: we were struggling. I was like my mind wasn't on school.
Speaker 4: It was on like how can I help my mom out?
Speaker 4: How can I provide? So you know, I ended up
Speaker 4: making some wrong decisions and you know, becoming a fellon
Speaker 4: at an early age and had multiple children. So I
Speaker 4: say that to say, like I had nothing else that
Speaker 4: I could do. So at that age, I was working
Speaker 4: for a temp agent called Spartan Staffing for a company
Speaker 4: called Finitech and I would literally handstort through trash for
Speaker 4: bare minimum wage. That's why, like if you guys see
Speaker 4: like the podcast or the YouTube, it's the story of
Speaker 4: seven twenty five to seven figures. I was literally making
Speaker 4: minimum wage. And I met my wife who we went
Speaker 4: to school with, but we really did know each other
Speaker 4: in school. And I met my wife through a mutual
Speaker 4: friend and I would go to pick her up and
Speaker 4: just go to see her on her lunch. And her
Speaker 4: boss was an older gentleman right, and he was always
Speaker 4: reading old school, just always reading the newspaper, always online,
Speaker 4: just reading news articles. And I would just explain to
Speaker 4: him like yo, like I want to own a business
Speaker 4: like you, and I want to be able, like this
Speaker 4: is where I'm at, and I know that you know,
Speaker 4: my current situation, you know, doesn't have to be my
Speaker 4: final destination. I want to do something like you, like
Speaker 4: own a business. So he ended up being like my
Speaker 4: first mentor. I didn't even know what a mentor. I
Speaker 4: was like, he's an old head. He's got a business.
Speaker 4: Even though he's not rich, he doesn't have to work
Speaker 4: for someone else. So I was always talking to him,
Speaker 4: and he was always reading the newspaper, and he was
Speaker 4: talking about Amazon, like I think e commerce is the
Speaker 4: new wave of the future. This is in twenty fourteen,
Speaker 4: so this is like six years ago. And he was
Speaker 4: talking about Jeff Bezos and what he was doing and
Speaker 4: how he thinks this is going to be the wave.
Speaker 4: And he was just always just putting it in my ear.
Speaker 4: And you know how I was trying to do so
Speaker 4: many different things, trying to do all these side hustles
Speaker 4: and stuff to make money because I was working third
Speaker 4: shift seven pm to three am. I didn't get to
Speaker 4: see my family. So I was trying to hustle stuff.
Speaker 4: I was selling clothing, I was cutting grass, I was
Speaker 4: doing whatever, like I tried to start a long care company,
Speaker 4: like anything I could do, just to hustle to make
Speaker 4: some money. That's all I knew. And he told me
Speaker 4: about this Amazon thing, and I really dived in. Like
Speaker 4: I didn't even have a computer. I would walk to
Speaker 4: the library to do research and the rest is history.
Speaker 4: Like I learned about Amazon, I tried, I tried, I tried,
Speaker 4: I kept failing, And after the three failed products, the
Speaker 4: fourth one was a home run product. It changed my life.
Speaker 4: So that's like a whole, like three years story, like
Speaker 4: in like five minutes, but that's how it started. Man.
Speaker 6: Now, Josh, I've been an Amazon member for about that time.
Speaker 6: But what turned you on to the FBA side of it?
Speaker 4: So the FBA side of it, fulfillment by Amazon is
Speaker 4: what FBA is is one of the best ways that,
Speaker 4: in my personal opinion, you can sell on Amazon. So
Speaker 4: there's a few different types of ways to sell on Amazon.
Speaker 4: I'm glad you asked that question. Like I previously said,
Speaker 4: I was hustling stuff. So when I was going going
Speaker 4: online trying to find ways to make money, I found
Speaker 4: out about arbitrage, which is another way you can sell online,
Speaker 4: which is where you take brand name products that already exist,
Speaker 4: large brand name products, you buy them at a discounted price.
Speaker 4: So if they're on sale or they're at the thrift
Speaker 4: store or something like that, and they're below MSRP, which
Speaker 4: is manufactured suggested retail pricing, you buy it at that
Speaker 4: discount and you sell it at full price and you
Speaker 4: keep the difference. So I was already doing that. I
Speaker 4: was taking my little bit of money and I was
Speaker 4: going to the Salvation Army and trying to find designer clothing,
Speaker 4: and I was reselling it on eBay for that full markup.
Speaker 4: And I was doing the same with Amazon. I was
Speaker 4: trying to find stuff online discounts coupons and buy it
Speaker 4: on sale and sell it at full price and keep
Speaker 4: the difference. So when he told me about Amazon and
Speaker 4: I started researching and learning about Amazon, I learned about arbitrage,
Speaker 4: and I knew that you could do it on Amazon.
Speaker 4: But that was like a hustle. I wanted a real
Speaker 4: business that was going to work for me, because my
Speaker 4: mentor always told me that the true key to success
Speaker 4: is to have your money work for you without you
Speaker 4: working for it. Like he told me, like, you got
Speaker 4: to eliminate the hustle mentality, like, of course you got
Speaker 4: to hustle to get things started, but the end you
Speaker 4: should have the end in mind in the beginning, and
Speaker 4: the end is to have your business work for you
Speaker 4: without you working for it. He was always telling me
Speaker 4: about less touches and to work on your business, not
Speaker 4: for your business. So when I was looking at these
Speaker 4: different methods, I was like, I'm already doing this and
Speaker 4: I'm still hustling stuff and it's not sustainable. Like at
Speaker 4: that time, I didn't know what sustainable was. But he
Speaker 4: would break things down to me, like, you need something
Speaker 4: that you can sell over and over and over again.
Speaker 4: What you're doing is making you some fast cash. But
Speaker 4: you can't find these clothes on sale. You can't find
Speaker 4: these products on sale all the time. So when looking
Speaker 4: at these different methods and stuff in business, I said,
Speaker 4: you know what, like the light really the light bulb
Speaker 4: really went off. I'm like these large brands like beat
Speaker 4: by Dre or Apple, these large brands are finding products
Speaker 4: that have demand that people need that they're buying every
Speaker 4: single day, irregardless of the day, the month, the age,
Speaker 4: the gender, and they're using Amazon to sell it. Right.
Speaker 4: They don't need a physical store. You you don't need
Speaker 4: to do this. You don't need to make some special product.
Speaker 4: And there's products that people are gonna continuously need. So
Speaker 4: that's when I learned the difference between the two and
Speaker 4: I dove in to FBA, which is private label, so
Speaker 4: you can sell on Amazon arbitrage, private label, or wholesale.
Speaker 4: These are different business strategies, but the strategy that I
Speaker 4: actually sell right the business model is called private labeling.
Speaker 4: So instead of selling other people's products, large brand name products,
Speaker 4: we find products that people want that have high demand,
Speaker 4: low competition, and we create our own brands and then
Speaker 4: we sell them. So that's what I specifically do for sure.
Speaker 3: So can we get into it the basic basic ground
Speaker 3: level one oh one explanation of what is FBI. I
Speaker 3: understand that you're selling and its fulfilled by Amazon. You
Speaker 3: sell of Amazon, but what does it actually entail? Can
Speaker 3: you give the one oh one on the situation?
Speaker 4: Yeah? Yeah, So FBA is fulfillment by Amazon. And this
Speaker 4: is how to hold. Like a bird's eye view looking down,
Speaker 4: this is a hold how the whole business works. So
Speaker 4: we find these products. Once we find these products, we're
Speaker 4: going to find a supplier, rather in the US or overseas,
Speaker 4: doesn't matter where the supplier is at. The supplier is
Speaker 4: going to make our product. Once that supplier makes our product,
Speaker 4: they're gonna ship it directly to Amazon. And this is
Speaker 4: where the FBA kicks and the fulfillment by Amazon. Once
Speaker 4: Amazon receives that product in their warehouse, they're gonna facilitate it,
Speaker 4: but then they're going to disperse it to other Amazon warehouses.
Speaker 4: And that's how they can ship products, and it can
Speaker 4: be Prime eligible, which like eighty percent high eighty percent
Speaker 4: of everybody who shops on Amazon or Prime members, so
Speaker 4: over one hundred and fifty million Prime members in the US.
Speaker 4: And basically that means whenever we go online on Amazon
Speaker 4: and shop, we get our products to our doorsteps in
Speaker 4: two days. So Amazon facilitates it, disperses it to other
Speaker 4: Amazon locations, and then when consumers people like me and you,
Speaker 4: go buy products online, Amazon picks it, They pack it,
Speaker 4: they wrap it, use their own boxes, their own labels,
Speaker 4: their own workforce. You know, it's under their warehouse, and
Speaker 4: then they ship it directly to customers. And if we
Speaker 4: get it and we're like, yo, this isn't what we wanted,
Speaker 4: or you know, it was warehouse damaged, or they just
Speaker 4: decided they don't want it anymore. Amazon even handles the
Speaker 4: customer service. So literally all we do is we find
Speaker 4: the products, we find the supplier, and we manage our
Speaker 4: inventory in our advertising, which is all done from the
Speaker 4: seller central portal, which Amazon created, and that's like the
Speaker 4: bird's eye view of how the whole system works.
Speaker 3: So the products aren't like company products that actually just
Speaker 3: random products and you're labeling it under your company. That's
Speaker 3: kind of what I'm understanding. So can you give us
Speaker 3: an example of, like what kind of products that would
Speaker 3: entail for this?
Speaker 4: Yeah? Absolutely, so I got I got like they're all
Speaker 4: around the house. So this little lent roller like I've
Speaker 4: just used before the interview to get the lint off
Speaker 4: my shirt. We would find a product like this, like
Speaker 4: there's no label on this anywhere, and let's just say
Speaker 4: that there's a huge brand. Just because a huge brand
Speaker 4: sells this product doesn't mean that we can't sell this product.
Speaker 4: You just can't sell it as them if you're not
Speaker 4: a licensee. So we would find a product that people
Speaker 4: have a demand for, that people are going to use
Speaker 4: every single day, irregardless of where they live, how old
Speaker 4: they are, gender, et cetera. And then we would create
Speaker 4: our own brand, so now it would be private labeled
Speaker 4: by our brand. We would put our brand on it,
Speaker 4: we would ship it directly to Amazon and they do
Speaker 4: the rest. See what like a lot of people don't know,
Speaker 4: Like when you think of like when you need to
Speaker 4: blow your nose, you say, hey, can you pass me
Speaker 4: that Kleenex? Right? Kleenex is a brand. The name of
Speaker 4: the product is tissue, right, So that and that's like
Speaker 4: brand note a writing. That's what we do is we
Speaker 4: try to become APEX predators for these different categories, saying
Speaker 4: like when you get out the shower, use a Q tip, Right,
Speaker 4: it's actually a cotton swab. Q Tip's the brand name.
Speaker 4: It's a private label brand name. So we find these
Speaker 4: products that people need and we try to become household names.
Speaker 4: We just find ways to differentiate them and prove them
Speaker 4: and to gain market share through differentiating the products. And
Speaker 4: that's what we do.
Speaker 6: So you put your logo on it, you put your
Speaker 6: brand on it. But after that it comes to a
Speaker 6: manufacturing standpoint, Like what's that process like?
Speaker 4: So once we find a product, so first we want
Speaker 4: to verify in validate the product before we even order it.
Speaker 4: So a few things we do is make sure it's
Speaker 4: not a seasonal product. So I don't know if y'all
Speaker 4: got kids, but I got kids, and we had these
Speaker 4: fidget spinner things all around the house. Right, that's a
Speaker 4: trending product. It went up like this, and just as
Speaker 4: quick as it went up, it knows dives. So once
Speaker 4: we verify that it's not a trending product, we move
Speaker 4: forward and you can go to Google Trends. It's a
Speaker 4: free tool. Type in the name of your product and
Speaker 4: you can look at a historical chart, so it'll show you, like,
Speaker 4: for the last five years, ten years, has this product
Speaker 4: been selling every day? So once you identify it's going
Speaker 4: to sell every single day, because that's what we want.
Speaker 4: We don't want to hit or miss. We want something
Speaker 4: that's going to make money every single day. After we
Speaker 4: knock out the trending, then we look at the seasonality
Speaker 4: so we can go on Google Trends again. If it's
Speaker 4: only selling towards October like pumpkin carving kit, or November
Speaker 4: and December like Christmas lights, then it's a seasonal product.
Speaker 4: We don't want that. We want January through December. So
Speaker 4: after we do these little things to verify and validate
Speaker 4: that product, we go to ali Baba, which is where
Speaker 4: we find the suppliers. It's free to use ali Baba.
Speaker 4: You don't need any type of special account nothing like that,
Speaker 4: and we're gonna go and type in the name of
Speaker 4: our product, so just we would type in lent roller
Speaker 4: into ali Baba, it's gonna show all these manufacturers. We
Speaker 4: want to reach out to the manufacturer and we want
Speaker 4: to do our due diligence and make sure that they're
Speaker 4: one hundred. So how long have they been in business,
Speaker 4: how many employees do they have, what is their gross
Speaker 4: annual revenue, how many star ratings do they have. Look
Speaker 4: at them on Better Business Bureau and prevet them to
Speaker 4: make sure that they're legit. And then that's where you
Speaker 4: do your negotiating. Once you come to a conclusion on
Speaker 4: the price, you guys agree on a price, you found
Speaker 4: a manufacturer, you're gonna give them thirty percent down on
Speaker 4: the product, so that starts and initiates the manufacturing. Once
Speaker 4: the manufacturing's done, you pay the rest. Once you pay
Speaker 4: the rest, they're gonna go ahead and ship the product
Speaker 4: directly to Amazon, so they're gonna handle getting it through customs.
Speaker 4: They're gonna find the freight forward or everything for you.
Speaker 4: It's gonna be shipped directly overseas if you're using a
Speaker 4: China supplier and be checked in by Amazon. If you're
Speaker 4: using US supplier, then it's from the supplier's warehouse directly
Speaker 4: to Amazon. Then Amazon checks it in and you go
Speaker 4: back to that other process, right they pick it, packet,
Speaker 4: ship it, handle returns.
Speaker 6: So when you're in Google Trends, from what I read,
Speaker 6: you want to find products that have high demand and
Speaker 6: low competition. Is there a certain statistic or a metric
Speaker 6: that you use when you're trying to find that.
Speaker 2: Yeah, so we use.
Speaker 4: Google Trends for seasonality and to see if it's a
Speaker 4: trending product.
Speaker 2: Can you explain what Google Trends are.
Speaker 4: Yeah. So Google Trends is a website owned by Google.
Speaker 4: It's a free tool owned by Google, and it's a
Speaker 4: way to measure analytics on products. So if you go
Speaker 4: to Google Trends, it's products, celebrities, countries. You can go
Speaker 4: and type into anything and it's going to show you
Speaker 4: like historical charts and analytics on that thing. If you
Speaker 4: go to a movie, it'll show you when the movie
Speaker 4: was created, how long the movie's been out, how many sales.
Speaker 4: If you go and put a product in it, it'll
Speaker 4: tell you the first time the product showed up, how
Speaker 4: long it's been around, how many people on Google are
Speaker 4: going to type for this product. And the reason why
Speaker 4: we use Google Trends is because Amazon is a search
Speaker 4: engine just like Google, and Google's the largest search engine.
Speaker 4: So even though it's not Amazon direct metrics, it's very
Speaker 4: similar and very close because Google is a huge search engine.
Speaker 4: So we go and we find that data from Google Trends,
Speaker 4: and that's how we find out, Hey, this products selling,
Speaker 4: you know, twelve months out the year. This product has
Speaker 4: depth of market, meaning it didn't just spike like the
Speaker 4: fidget spinner. Like if you go and type this product
Speaker 4: and you're going to see for the last ten years,
Speaker 4: it's been selling every single day. It's been selling every
Speaker 4: single month. So we want to see a nice horizontal
Speaker 4: chart when we look for products that have high demand
Speaker 4: low competition. There's no exact metric that's going to say like, hey,
Speaker 4: this product has high demand, low competition. What we want
Speaker 4: to look for is we want to go directly to
Speaker 4: Amazon and type in the name of the product, and
Speaker 4: when we're looking at all the different sellers, we want
Speaker 4: to see how many of those sellers have under one
Speaker 4: hundred reviews, have under two hundred reviews that are still selling.
Speaker 4: You know, ten plus units a day. If you're selling
Speaker 4: ten plus units a day, that's three hundred units a month.
Speaker 4: So that's like the bare minimum metric I look for.
Speaker 4: So that would equal low competition, and that's how we
Speaker 4: identify if it has high dead man low competition. Right.
Speaker 4: Another way is there's something called BSRO, which stands for
Speaker 4: best seller Ranking. If you're on an Amazon listing and
Speaker 4: you scroll down, you'll actually see category and then subcategory.
Speaker 4: So category may be home products, subcategory may be lent roller, right,
Speaker 4: and then it'll have a number next to it. That's
Speaker 4: the BSR Bestseller Ranking. So that's based out of a
Speaker 4: million out of let's just say there's a million sellers.
Speaker 4: It's based out of all million sellers. So we look
Speaker 4: at that listing and it's number ten. That's one of
Speaker 4: the top selling products. So we'll look at that competitor.
Speaker 4: We'll look at what they're selling, how many units they're selling,
Speaker 4: to make, you know, to make a statement as to
Speaker 4: does this product have high demand low competition.
Speaker 2: So that's interesting. I just learned something.
Speaker 3: So I was wondering what actually that meant to be
Speaker 3: a private label, But that's really interesting. So the private
Speaker 3: label is you pick a nondescript item like a lint roller,
Speaker 3: which nobody really knows who makes lint rollers. So now
Speaker 3: you put your private label on that, which is x
Speaker 3: Y and Z lint rolling company. So you get the
Speaker 3: lint rollers from China, some warehouse in China, and now
Speaker 3: you actually brand it with your company, your logo whatever,
Speaker 3: x Y and Z lint rollers. You put it on Amazon,
Speaker 3: and then they buy it from Amazon, so you never
Speaker 3: actually get receipt of the product. It goes to Amazon's
Speaker 3: website directly from the warehouse.
Speaker 4: We never touched it. It could be us, it could be
Speaker 4: China where wherever, we never touch it.
Speaker 3: And then when somebody goes to Amazon and types in
Speaker 3: lint roller, your product shows up on the first page.
Speaker 3: If you can make it to the first page, we'll
Speaker 3: talk about that. And nobody ever cares like what the
Speaker 3: company is that makes the lint roller. They usually just
Speaker 3: go for like the lowest priced item, I think, or
Speaker 3: you know, the best reviews or who has the most
Speaker 3: star rating or whatever. And it's a variety of different
Speaker 3: products like that, like lint rollers, those things that you
Speaker 3: like stuff into your shoe to like form your shoe,
Speaker 3: nail clippers. Like, there's all kinds of stuff that's just
Speaker 3: really nondescript. A couple of weeks ago, even toilet paper,
Speaker 3: when nobody could buy toilet paper. People's going on Amazon
Speaker 3: and buy toilet paper. You're not really tripping off of
Speaker 3: like it gotta be Sherman. It's like at this point,
Speaker 3: you just get whatever you can get. So, now that
Speaker 3: I'm thinking about it, the more and more I think
Speaker 3: about it, I just think of different nondescript products. That
Speaker 3: doesn't really matter what the name of it is because
Speaker 3: nobody ever even knows the name of these products. It's interested.
Speaker 3: I never thought about that before. So this is crazy.
Speaker 3: So how much money can you actually make in this business?
Speaker 3: Because now I'm actually interested? This is extremely interesting. How
Speaker 3: much money can you make on average? I know it
Speaker 3: probably varies, but on average, how much money can you make?
Speaker 3: I'm interested?
Speaker 4: Yeah, So what we recommend. What we recommend is nothing
Speaker 4: less than thirty percent net profit margins. So net is
Speaker 4: going to be after everything's said and done, gross would
Speaker 4: be like the total number net is that heap that
Speaker 4: number that you get to keep. So we like to
Speaker 4: shoot for thirty as the minimum. Typically it's going to
Speaker 4: be around forty to fifty percent, But it depends on
Speaker 4: the product, depends on the time of the year. Towards
Speaker 4: the end of the year, you know, price is going
Speaker 4: to be a little bit higher, on logistics, on fulfillment fees,
Speaker 4: just everything. But typically we like to see between thirty
Speaker 4: and fifty percent profit margin. This is after we buy
Speaker 4: our product, after which is the cog or cost of goods,
Speaker 4: after we ship our product, which is logistics, after Amazon
Speaker 4: stores our product, because we're paying fees, after we sell
Speaker 4: a product, they pick it, they use everything. After everything's
Speaker 4: said and done, we want to make thirty to fifty
Speaker 4: percent profit. So if we're selling a product for twenty bucks,
Speaker 4: we want to keep six dollars. And if you could
Speaker 4: be around thirty three percent, which is right around that
Speaker 4: bare minimum number, every three units you sell, you're doubling
Speaker 4: your money. So that's how you can really, you know,
Speaker 4: start to grow and scale.
Speaker 6: Yeah, this is so crazy because for so long we've
Speaker 6: been taught like having generic things is not the thing
Speaker 6: to do, right, and this is a prime example of yes,
Speaker 6: this could be a big business of having generic items. Well,
Speaker 6: my question is what's Amazon's cut? Like, I know they
Speaker 6: take a percentage. What's that cut in this deal?
Speaker 4: Yeah, so it fluctuates. They're constantly changing like how much
Speaker 4: they're charging in a reference to the referral fee, but
Speaker 4: it's typically right around fifteen to twenty percent of the
Speaker 4: product costs. So if you're selling the product for twenty bucks,
Speaker 4: they're going to take you know, they're going to take
Speaker 4: four bucks. But that's everything storing the product, shipping the product,
Speaker 4: facilitating the products. That's the referral fee and everything. And
Speaker 4: like I said, on top of their fee and the
Speaker 4: product costs and the shipping and the advertising and everything else,
Speaker 4: we still want to make that thirty to fifty percent
Speaker 4: profit margin because we're going directly to the manufacturer. We're
Speaker 4: not going to a middleman. We're not going to someone
Speaker 4: who's wholesaling these products. We're not going and buying products
Speaker 4: at a discounted rate. We're going directly to the place
Speaker 4: where they manufacture it, where the large brands go. We're
Speaker 4: going where Nike goes, We're going where beats by dre goes,
Speaker 4: We're going with all the top guys go, and we're
Speaker 4: getting it manufactured. So that's how we make our money,
Speaker 4: and that's how we get our margin where it needs
Speaker 4: to be.
Speaker 3: That's interesting because I always kind of knew that the
Speaker 3: money was in the non descript items. Because if you
Speaker 3: think about it, like, let's take something like a refrigerator.
Speaker 3: The average person might buy three, maybe four refrigerators, like
Speaker 3: in their entire life, like life time, they might buy
Speaker 3: four refrigerators in the entire life. Maybe not even that much.
Speaker 3: But you pick something like a lint roller or you know,
Speaker 3: Q tips things like that, that's reoccurrent. Yeah, it's reoccurrent thing.
Speaker 3: You might buy one hundred lint rollers.
Speaker 4: Hey, I gave you all this a secret sauce. This
Speaker 4: is the secret sauce right here. The reason why a
Speaker 4: perfect product let me let me just break this down.
Speaker 4: So I like products that are lightweight. So there's two
Speaker 4: different products. There's lightweight products, there's oversized products. So lightweight
Speaker 4: products would be something like this. Oversized would be the
Speaker 4: chair I'm sitting in. So lightweight products are cheaper to manufacturer,
Speaker 4: cheaper ship ship, cheaper to facilitate number one. Number two,
Speaker 4: The reason why this is a beautiful product is because
Speaker 4: this is a usable product. So I like consumable products,
Speaker 4: usable products in giftable products because people continuously use them.
Speaker 4: So if I buy, like let's just say this desk
Speaker 4: that my computer's setting on, I only need that once
Speaker 4: and that's it said and done. This lent roller, once
Speaker 4: you run out of the tape, you might buy the
Speaker 4: lent roller set, but once you run out of the tape,
Speaker 4: you need the tape again. Or if we have a
Speaker 4: giftable product that can be gifted for a man or
Speaker 4: a woman, guess what, there's birthdays, Father's Day, Mother's Day,
Speaker 4: Valentine's Day, graduation. They're constantly being given. Another example is supplements.
Speaker 4: Supplements are very small, very cheap to make, very small,
Speaker 4: very cheap to ship, very cheap to fulfill, and guess what,
Speaker 4: at the end of the thirty days, you need it again.
Speaker 4: So you can actually have a subscribe and save, meaning
Speaker 4: it's a continuity package. People order it and they get
Speaker 4: it every single month. So some of the products, I
Speaker 4: look like I'm in the beauty really big, and I'm
Speaker 4: in office in office products very big, because these are
Speaker 4: products that you constantly use that you need to reorder.
Speaker 4: So I'm constantly thinking, like, we don't want a one
Speaker 4: night stand with our customers, we want the marriage. And
Speaker 4: so many people focus on that one night stand, Like,
Speaker 4: how can I make the most amount of money on
Speaker 4: the first touch, or what's the product that people were
Speaker 4: gonna buy a lot of on that first touch. I'm
Speaker 4: thinking down the road, what's a product that you know,
Speaker 4: I may not crush it on the first touch, but
Speaker 4: they're gonna be locked in and we're gonna have a marriage.
Speaker 4: They're gonna need it every single month for the next year,
Speaker 4: the next two years, next three years. And that's something
Speaker 4: like amateurs they monetize the front, and experts in this
Speaker 4: business they monetize the back. They don't focus on the
Speaker 4: one night stand. It's that marriage.
Speaker 3: There you have it, ladies and gentlemen, whole lot of game.
Speaker 3: So we gave you the one on one. So in
Speaker 3: the next segment, we're gonna go over some steps to
Speaker 3: get you up and running so you can get started,
Speaker 3: all right, Yeah, So in this segment we're going to
Speaker 3: actually go over the steps actionable items. But you know,
Speaker 3: I was just thinking about it, and that just really
Speaker 3: makes a lot of sense. And sometimes the simplest things
Speaker 3: is just mind blowing and it's like I never really
Speaker 3: thought about it, but it's like makes complete sense. Like
Speaker 3: nobody ever who looks at the brand name of a linp.
Speaker 5: Rolls it works.
Speaker 4: Man. Yeah, it's what all the big guys are doing.
Speaker 4: Beats By all this is is a private label product.
Speaker 4: This is made in China. These are made for sixteen
Speaker 4: dollars and he's selling them for two hundred dollars. Why
Speaker 4: because of the brand name. So the whole goal, like
Speaker 4: I said, like Kleenex, Like everybody like, yo, haven me
Speaker 4: a Kleenex. That's not the name of the product, that's
Speaker 4: the name of the brand. You see what I'm saying,
Speaker 4: Like the Q tip is not the name of the product,
Speaker 4: it's the name of the brand. So you want to
Speaker 4: become a category king, like Apple is a category king.
Speaker 4: Beats by Dre is a category king, right, So that's
Speaker 4: that's basically all they're doing. Like if you look on
Speaker 4: if you look on the bottom of an Apple product,
Speaker 4: it says made in China. You look on the back
Speaker 4: of these made in China. So they're basically finding products
Speaker 4: that people need. Everybody needs to listen to music, everybody
Speaker 4: needs to clean their ears, and they're slapping their brand
Speaker 4: on it. Right now, not everybody has a huge brand
Speaker 4: like Dre. But if you create a good product, good
Speaker 4: customer service, you can become a category king because you know,
Speaker 4: Beyonce is not going to go drop some Q tips right,
Speaker 4: Like I sell a lot of office office products. I'm
Speaker 4: crushing it because there's no huge brand that's taking it on.
Speaker 4: Like you're not going to see jay Z, you know,
Speaker 4: shooting or Kanye doing a line of binder clips, you
Speaker 4: know what I mean, or three ring binders. So if
Speaker 4: you go in there and then you serve these people
Speaker 4: and you're making sure that you're reading the reviews of
Speaker 4: the competitors, and you're making it a better product, you're
Speaker 4: making it a more affordable product, and you're doing all
Speaker 4: these things. Now you become the category king and people
Speaker 4: are like, I want such and such, which is your brand?
Speaker 4: So that's what we do. And it's like it's the
Speaker 4: most sustainable business model. Like people ask me all the time, like, yo,
Speaker 4: is Amazon dead? Like so many people are starting to
Speaker 4: sell on Amazon? Is Amazon dead? As this saturated? Can
Speaker 4: you still sell? I'm like, let's forget about Amazon, which
Speaker 4: is the largest company in the world. The founder is
Speaker 4: the richest man alive. Let's set all that aside. What
Speaker 4: is selling on Amazon? What is private label products. What
Speaker 4: is this right, there's a demand. You need to hear
Speaker 4: your music, so there's a demand for headphones. I have
Speaker 4: the supply, supply and demand. If you go back to
Speaker 4: the Renaissance period when there was castles and horses and
Speaker 4: sword fighting, knights needed swords, so they went to a blacksmith.
Speaker 4: The blacksmith made the sword. They had the demand, there
Speaker 4: was a supply, and they exchanged rather be coins or
Speaker 4: they boughtered, so it was just a direct exchange of
Speaker 4: supply and demand. So now times have changed and now
Speaker 4: we have computers, smartphones, tablets, and when we need something,
Speaker 4: we go to the market, which is Amazon. Amazon facilitates everything.
Speaker 4: They have everything, any and every product you can think of,
Speaker 4: basically accept cars, which soon they're working on that, and
Speaker 4: we just go buy what we want and boom, it's
Speaker 4: to our house two days later. So when people ask
Speaker 4: me like is it dead, I'm like, no, it's not dead.
Speaker 4: This supply and demand has always existed. There's always been
Speaker 4: a need for items, and this is just the most relevant,
Speaker 4: most up to date, most user friendly, and effective way
Speaker 4: to purchase products. Like even during a pandemic, if you
Speaker 4: need something and you don't want to go to the store.
Speaker 4: You can't go to the store, you go online. Less
Speaker 4: than five minutes is bought, and then less than two
Speaker 4: days is to your doorstep.
Speaker 3: You just said, was that was crazy? That's actually extremely
Speaker 3: extremely important. That's a gym where it's like everybody, not everybody,
Speaker 3: but a lot of people are private label companies. And
Speaker 3: it's like you use the example of Beats by Dre,
Speaker 3: so it's like, yeah, if you don't really necessarily have
Speaker 3: your warehouse where you're actually making products yourself, which almost
Speaker 3: nobody really does, you're getting it made somewhere else and
Speaker 3: then getting it shipped and then putting your logo on it.
Speaker 3: Essentially you're a private label company, right, And it's like
Speaker 3: the only difference is that, like a Beats by Dre
Speaker 3: has celebrities that endorse the product, and they have doctor
Speaker 3: Dre's name on it, and you know, all of these
Speaker 3: different things. It's a billion dollar company now, but in
Speaker 3: the essence, the core business model, especially at the beginning stages,
Speaker 3: i'm sure, is kind of the same thing. So that's
Speaker 3: that's really it's crazy. That's interesting if you really think
Speaker 3: about it, everybody's a private label.
Speaker 4: Absolutely, So peep Game there's three different ways. We talked
Speaker 4: about arbitrage where you go to best Buy and you
Speaker 4: get something at a discount and then you sell it
Speaker 4: for the MSRP and keep the difference. Right, that's arbitrage.
Speaker 4: You have wholesale where I go and find companies and
Speaker 4: I have them sell me the product at a discounted rate,
Speaker 4: at a wholesale price, and I become a distributor and
Speaker 4: I sell it at an MAP which is minimum advertised price.
Speaker 4: So that's strategy number two. And then there's strategy number three.
Speaker 4: People call private labeling, which is what I just explained, right,
Speaker 4: But if you think about it, the distributor, the wholesaler
Speaker 4: who's wholesaling you the product so you can become a distributor,
Speaker 4: has a private label product that you're becoming a distributor of.
Speaker 4: And if we are bitrage products where we go buy
Speaker 4: private label products of large brands at a discounted price
Speaker 4: and resell it at that MSRP and keep the difference,
Speaker 4: what are we doing. It's just a different form of
Speaker 4: private labeling. So what we're doing is we're cutting out
Speaker 4: the middleman. We're not going to a wholesaler and becoming
Speaker 4: a distributor. We're not hoping that we find products at
Speaker 4: a discounted price and sell it for that MSRP. We're
Speaker 4: just finding the products that the big guys need or
Speaker 4: big guys are selling. We're making our own sending it
Speaker 4: direct to consumer, and we're making all the profits. Like
Speaker 4: so many people say, like I don't want to get
Speaker 4: started with headphones because Beats by Dre are the best.
Speaker 4: Beats by Dre are not the best or the well known,
Speaker 4: they're the most well known. You can go directly to
Speaker 4: the same factory and make the same headset more affordable
Speaker 4: and actually improve it and still get sells, and still
Speaker 4: get sells. Like I'm competing with Amazon, I'm competing with
Speaker 4: some of the largest companies in the world, and people
Speaker 4: have this misconception I can't compete with them. Why not
Speaker 4: Adidas competes with Nike. Same stuff, same supplier, made in
Speaker 4: the same country, made out of the same fabric, different brands,
Speaker 4: different uses. So what I do is I literally look
Speaker 4: at these products. What is the pros, what is the
Speaker 4: cons what people love? I don't change what people hate.
Speaker 4: I implement immediately. And because I'm such a small company
Speaker 4: and I'm so hands on as a private label seller,
Speaker 4: we can dive deep and become obsessed with making this
Speaker 4: product the best that it can be. You know, once
Speaker 4: you have a product that's crushing it. Even though they
Speaker 4: have huge budgets, huge teams, they're on research and development
Speaker 4: for more products, they're not worried about making this the
Speaker 4: best of the best. So like when your hands on
Speaker 4: and you become obsessed, it's all your money. You can
Speaker 4: literally dive in and make this thing, you know, make
Speaker 4: this thing great. And that's what I do. Like if
Speaker 4: you look at Peter Tiel, the co founder of PayPal,
Speaker 4: right with Elon Musk, and they asked him like, how
Speaker 4: did you revolutionize the payment processor industry? And he said,
Speaker 4: dominate the sector, control the space. So instead of going wide,
Speaker 4: I'm going small. I'm going narrow. I'm focusing on that
Speaker 4: one thing. Instead of hundreds of SKUs, I have only
Speaker 4: a dozen skews, but those dozen SKUs are household names.
Speaker 4: I'm trying to dominate the sector and control the space,
Speaker 4: like I explained, like tissue paper with Kleenex or Q
Speaker 4: tips with cotton swabs, they dominate that sector. And then
Speaker 4: zig Zigler, one of the best marketers alive, he said,
Speaker 4: when the market is zigs uzag, so I'm doing the
Speaker 4: complete opposite. People are racing down to the bottom trying
Speaker 4: to be competitive with their pricing. My pricing is higher
Speaker 4: and I'm selling more and making more money. Why well,
Speaker 4: why is Apple one of the most commonly purchased consumer
Speaker 4: electronics products and it's sixty to eighty percent higher than HP,
Speaker 4: Dell and all the other competitors. Why because the consumer
Speaker 4: product experience is that much better. The quality and the
Speaker 4: product is that much better. The customer buying experience is
Speaker 4: that much better, The customer support is that much better,
Speaker 4: The packaging is that much better. So I always tell
Speaker 4: my students and people who I'm helping, when you're thinking
Speaker 4: about products, when you're thinking about product packaging, when you're
Speaker 4: thinking about customer experience, what would Apple do? You know?
Speaker 4: Like the WWJD, what would Jesus do? What would Apple do?
Speaker 4: And if you follow their entire model you can't lose.
Speaker 6: That alplatross process and correct me if I'm wrong, But
Speaker 6: it reminds me of the kid who goes to Walmart,
Speaker 6: buys water right, goes outside and sells it at a
Speaker 6: discount of price and keeps the profit from what he's here,
Speaker 6: Is it right?
Speaker 5: Am I getting that correct?
Speaker 4: Fat You're basically a middle man. You go into the plug,
Speaker 4: you getting at a discount because you're buying bulk, and
Speaker 4: then you're trying to sell. It's the same. So arbitrage
Speaker 4: and wholesale is the same exact thing. The only difference
Speaker 4: between wholesale and arbitrage is arbitrage you're buying, like, I'm
Speaker 4: gonna go, let's just say Black Friday beats by Dreas
Speaker 4: fifty percent off. I'm just throwing something out there. I'm
Speaker 4: gonna go buy ten of these, wait till Black Friday's done,
Speaker 4: and sell them at MSRP, which is manufacturer suggested retail pricing,
Speaker 4: and I'm gonna keep the difference. Wholesale is where I
Speaker 4: go to a private label company, Like let's say that
Speaker 4: I got this brand and I'm crushing it, and you
Speaker 4: wholesale and you want to add to your catalog. You
Speaker 4: come to me like, yo, I want to buy ten
Speaker 4: thousand of them units and be able to sell it
Speaker 4: under your brand. You're not creating your own brand, You're
Speaker 4: just asking for a licensee agreement. So now you have
Speaker 4: the rights to resell my product, and I'm giving you
Speaker 4: a little bit of love. And that cushion in the
Speaker 4: middle is what you make. So now you're the middleman,
Speaker 4: private label, You're the plug. You're going right just like
Speaker 4: Frank Lucas did, you going right to the jungle. You're
Speaker 4: getting the stuff there, You're stamping it with your logo,
Speaker 4: and you sit in there write to Amazon you.
Speaker 3: Can blue magic with the stamp. Eyl is our stamp.
Speaker 3: That's the best product on the block for sure. So
Speaker 3: let me ask you this, because you know, my whole
Speaker 3: thing has always been one hundred thousand. Like, if I'm
Speaker 3: looking at a business, or if I'm interested in the business,
Speaker 3: I want to know does it have the ability to
Speaker 3: make one hundred thousand dollars a month? Not to say
Speaker 3: it's gonna make one hundred thousand dollars a month, like
Speaker 3: as soon as you get in, but I just want
Speaker 3: to know that I could potentially make one hundred thousand
Speaker 3: dollars a month. If not, feel like I'm wasting my time.
Speaker 3: It's just my own personal take on it. So that's
Speaker 3: how I gauge anything. It's like, is it able for
Speaker 3: me to make one hundred thousand dollars a month in it,
Speaker 3: So being a seller on Amazon one hundred thousand dollars
Speaker 3: a month, is that reachable? And if so, like what
Speaker 3: does it take to make one hundred thousand dollars a
Speaker 3: month selling products on Amazon?
Speaker 4: Absolutely? Man Like success is math. So you just got
Speaker 4: to break it down, Like, if you want to make
Speaker 4: a hundred thousand a month, how many products do you
Speaker 4: got to make? Right? So, thirty units a day at
Speaker 4: ten dollars profit is how much three hundred dollars a day? Right?
Speaker 4: A few times that by thirty days in a month,
Speaker 4: that's around nine thousand dollars. That's with one product. You
Speaker 4: want to make a hundred g's profit a month, you
Speaker 4: need nine more of those products. Or you break it down,
Speaker 4: how many units do I have to sell per day
Speaker 4: of one product? And when you go and do the
Speaker 4: research inside the software, there's tons of different softwares where
Speaker 4: you can find these products. You just go and you
Speaker 4: input that data. It's hard to do it without showing
Speaker 4: you guys. But if you need to sell one hundred
Speaker 4: units a day at ten dollars profit to make one
Speaker 4: thousand dollars a day, that's thirty thousand a month. You
Speaker 4: go and say, hey, I want to find a product
Speaker 4: that is selling x amount per day, x amount of units,
Speaker 4: x amount of profit, and then you just reverse engineering. Right,
Speaker 4: success is math, You just break it down. It's that simple,
Speaker 4: all right.
Speaker 3: So let me ask you this because I actually googled
Speaker 3: it and I got a list of like some steps
Speaker 3: that beginners can take to get up and running, and
Speaker 3: it was a list of like seven different steps. So
Speaker 3: they said, the first step is to create an Amazon
Speaker 3: seller account. The second step is to.
Speaker 2: Pick a niche.
Speaker 3: The third step is to research products. The fourth step
Speaker 3: is to establish product sourcing, and then you have to
Speaker 3: establish a brand. Then you have to create product listing,
Speaker 3: and then you have to market your products. So those
Speaker 3: are the seven commandments according to Google. Does that sound
Speaker 3: about right? How do you feel about that?
Speaker 4: So let me intervene. Step number two says pick your niche.
Speaker 4: That's the opposite of what I teach. I always teach
Speaker 4: my students that you want to lead by data, not
Speaker 4: by emotion. If you're picking something, you're picking it because
Speaker 4: you think it's going to do well, and you're not
Speaker 4: going off of the data. So many of the mistakes
Speaker 4: I see my members and new Amazon sellers make is
Speaker 4: they try to lead with emotion, not with data. Perfect example,
Speaker 4: men that are into fitness, they always want to launch
Speaker 4: the next supplement, the next workout gear, so on and
Speaker 4: so forth. Women that are into beauty they want to
Speaker 4: be the next Kylie Jenner, And even though they're passionate
Speaker 4: about it and they love it, that's not the smartest,
Speaker 4: most advantageous product to launch. So I always tell people
Speaker 4: just start with an open slate, do the product research,
Speaker 4: because some of the most profitable products that you're going
Speaker 4: to make a killing off of are products like this
Speaker 4: that you would have never in a million years thought
Speaker 4: about launching, or you're not passionate about, but they're making
Speaker 4: all the money. So I always tell people lead by data,
Speaker 4: not by emotion. So, yeah, you want to get create
Speaker 4: your Amazon Seller account. You want to start with an
Speaker 4: individual account. It's absolutely free. We don't change that by
Speaker 4: clicking a button to professional account until we have our
Speaker 4: products actually being checked in. Because if you have a
Speaker 4: professional account, it's thirty nine to ninety nine a month.
Speaker 4: We don't want to pay that money until we have
Speaker 4: products live. Number two is we want to get right
Speaker 4: into product research. Just the most important aspect of the
Speaker 4: entire business. We want to find these products that are
Speaker 4: going to sell twenty four to seven three sixty five.
Speaker 4: We want to find these products that are not seasonal
Speaker 4: products meaning they're going to sell twenty four to seven
Speaker 4: three sixty five, that are not trending, meaning that it
Speaker 4: has depth of market. If there's volatility or there's no
Speaker 4: sustainable track record of sales, that's risky. We don't want risk.
Speaker 4: We want to make a lot of money. And again
Speaker 4: we go to Google trends for both of those, a
Speaker 4: free resource. Once we identify all those things, we go
Speaker 4: to the supplier. We find the supplier. We want to
Speaker 4: make sure that we're going to be able to make
Speaker 4: that margin. So we're going to use a free tool
Speaker 4: called the FBA calculator. It's a free tool that Amazon
Speaker 4: owns fbacalculator dot com. We're going to put in how
Speaker 4: much is the product selling for, how much are we
Speaker 4: going to get it from the supplier, and all the
Speaker 4: other fees associated with that, and it's going to spit
Speaker 4: out the profit margin after Amazon takes to their piece
Speaker 4: of the pie. So if it's below thirty percent, we
Speaker 4: need to increase the price or decrease the purchase cost, right,
Speaker 4: So by doing that we can manipulate and get that
Speaker 4: profit margin to where we want to be. The goal
Speaker 4: is thirty percent bare minimum, thirty three percent. Every three
Speaker 4: products you sell, you double your money. So if you
Speaker 4: put ten thousand into product and you're at thirty three
Speaker 4: percent every three products, you're flipping that money, right. So
Speaker 4: that's the whole goal is to really just scale this thing.
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Speaker 4: The way that you scale this thing is by adding
Speaker 4: more products to your SKW You rinse and repeat. Once
Speaker 4: you get the first product, it's all downhill from there.
Speaker 4: Because what I teach is the actual brand approach, not
Speaker 4: the generic approach. So the generic approach is where you
Speaker 4: have tons of different private label products. You might sell
Speaker 4: this phone mount, and then you might sell a calculator,
Speaker 4: then the lin roller, and have all these different products.
Speaker 4: That's one strategy. The more sustainable strategy that I recommend
Speaker 4: is the private label. So we do a catalog. So
Speaker 4: if we launch this product and it's in a specific category,
Speaker 4: we want to launch other relevant products to this catalog
Speaker 4: and create our own catalog. And the reason why I
Speaker 4: say that first product is it's downhill from there is
Speaker 4: because we already have the plug. We already have the suppliers.
Speaker 4: So after that thing's up and rolling and it's making
Speaker 4: us money twenty four seven, three sixty five, we go
Speaker 4: to the supplier and say, hey, send me your catalog
Speaker 4: of products and what other Amazon sellers are selling, and
Speaker 4: we go through it and we do our research and
Speaker 4: they already shaved time off the hourglass. So then we
Speaker 4: find another product and we just rent and repeat, and
Speaker 4: you keep stacking products and that's how you scale this thing.
Speaker 5: All right. So, once we got our product and we
Speaker 5: got our logo, all that.
Speaker 6: Put together, what are some of the upfront frees that
Speaker 6: we're going to need to get this product really out
Speaker 6: there and be a successful company?
Speaker 4: Now? Yeah, so the fees is associated with starting the businesses.
Speaker 4: Number one, the main fee is going to be your product,
Speaker 4: right because we're not drop shipping where people buy our
Speaker 4: product and then we pay the supplier afterwards, where actually
Speaker 4: we own the brand, we own the product. So the
Speaker 4: number one fee associated with the whole business is going
Speaker 4: to be your COG or cost of goods. Now, it depends,
Speaker 4: because your product could cost a dollar, it could cost
Speaker 4: twelve dollars. But what I usually tell people when they're
Speaker 4: starting out is to start with no less than one
Speaker 4: thousand dollars. Have one thousand dollars that you can allocate
Speaker 4: directly to your inventory. Now, some people may say, like, hey,
Speaker 4: I was watching on YouTube and reading blogs and stuff,
Speaker 4: and they're saying like three to ten thousand to start
Speaker 4: your first product. How can I start with only one thousand?
Speaker 4: What I do with the AMC formula, what I teach
Speaker 4: people is how to micro launch products. So logically, what
Speaker 4: you would do is find out how many units you're
Speaker 4: going to sell per month. If you anticipate that you're
Speaker 4: going to sell one thousand units a month and your
Speaker 4: unit costs three dollars, that's a three thousand dollars launch
Speaker 4: because you don't want to run out of inventory. But
Speaker 4: what I've learned through trial and error my own brand
Speaker 4: and through helping you know, thousands of people around the world.
Speaker 4: Is that there's no software that's one hundred percent accurate,
Speaker 4: and there's nothing like actual factual buyer data directly from Amazon.
Speaker 4: So we don't put all of our eggs in one
Speaker 4: basket and launch three thousand units or one thousand units.
Speaker 4: We'll actually order twenty to thirty percent of the inventory
Speaker 4: that we anticipate on selling for that month. We'll get
Speaker 4: it to Amazon as quickly as possible because success loves speed,
Speaker 4: and we'll test actual buying data from consumers. And if
Speaker 4: it sees that we're getting consecutive days, like three to
Speaker 4: five days, consecutive sales of what we anticipated on selling,
Speaker 4: then we make that back order. But if it's not,
Speaker 4: then we liquidated and move to the next product. And
Speaker 4: this is like my proprietary system, and this is how
Speaker 4: you profit off of failing product. So many people put
Speaker 4: all their eggs in one basket, but if you drop
Speaker 4: the basket, all the eggs are gone. So instead of
Speaker 4: putting all my money in one product, will micro launch
Speaker 4: three products at once, or will micro launch that one
Speaker 4: product that way? If we get it to the marketplace
Speaker 4: and it doesn't perform the way we anticipated, we can
Speaker 4: liquidate that product, add a profit, and move to the
Speaker 4: next one. Because you got to remember, like so many
Speaker 4: people ask me, like, what's the worst that can happen
Speaker 4: with their product, like a failing product or losing Amazon product.
Speaker 4: What does it look like? How much am I going
Speaker 4: to lose? What's the worst case scenario? And if you
Speaker 4: do this properly and you cross your t's, you dot
Speaker 4: your eye, and you do that product verification and validation
Speaker 4: that we discussed, the worst thing that's going to happen
Speaker 4: is you're not going to sell enough units daily to
Speaker 4: reach that ten thousand profit a month or three thousand
Speaker 4: profit a month or whatever you're anticipated on it's selling.
Speaker 4: It makes be one here or two there. It may
Speaker 4: be inconsistent, but you have to remember you're still at
Speaker 4: that thirty percent to fifty percent profit margin. So even
Speaker 4: though it's a loser because it's not making us what
Speaker 4: we wanted to make, it's still profiting. And we only
Speaker 4: have a specific amount. We don't have an abundance of
Speaker 4: units that we can't get rid of or that's going
Speaker 4: to take a long time to get rid of, that's
Speaker 4: going to lock up our capital. So we can liquidate
Speaker 4: it profit on the liquidation of that product, put all
Speaker 4: the proceeds into another product, and just keep testing until
Speaker 4: you find that one that's going to have consistency.
Speaker 3: So you mentioned something earlier where you said, you know
Speaker 3: there's different software that you can use to actually find
Speaker 3: out if a product is going to be an actual
Speaker 3: good seller or not. So I know that's something that
Speaker 3: you know is probably my biggest question, and I'm sure
Speaker 3: a lot of other people's question as well. So how
Speaker 3: do you determine if it's going to be a good product?
Speaker 3: Like what are some of those softwares or websites that
Speaker 3: you were referring to.
Speaker 4: So there's a combination of a few things, using Amazon's
Speaker 4: direct website, using the free resources that we talked about,
Speaker 4: like Google Trends, free FBA calculator to determine the seasonality,
Speaker 4: the trend, the profit margin. But there's many of different
Speaker 4: softwares like I personally use Jungle Scout. There's dozens of
Speaker 4: different softwares that are relatively inexpensive, like between.
Speaker 2: Thirty to fifty buve nich Hunter is that one.
Speaker 4: Nich Hunter's one. There's there's tons of them. Viral launch,
Speaker 4: viral launch Helium ten. Jungle Scouts is the one I
Speaker 4: personally use. There's tons of different softwares out there, and
Speaker 4: what this does is basically take all the data that's
Speaker 4: on Amazon and compiles it in front of a user
Speaker 4: fase right an interface. So after you do all that
Speaker 4: manual stuff to see is the product trending, is the
Speaker 4: project seasonal? Is the profit margin there? Then you can
Speaker 4: use this software to actually pull up, Hey, this is
Speaker 4: all this is all the sellers, this is the average reviews,
Speaker 4: this is the average amount of sales. So you basically
Speaker 4: want to compare the amount of sellers, the amount of
Speaker 4: revenue to the amount of reviews. So one of the
Speaker 4: like the telltale ways of seeing if a product has
Speaker 4: high demand low competition is comparing the reviews to revenue.
Speaker 4: So our bare minimum is we want to see a
Speaker 4: majority of the sellers selling a product at three hundred
Speaker 4: units per month, that's ten units per day, and we
Speaker 4: want that profit margin to be around, you know, thirty percent,
Speaker 4: like we mentioned, and we want a majority of the
Speaker 4: sellers to have less than two hundred reviews. So if
Speaker 4: you see a bunch of sellers who are selling a
Speaker 4: crapload of products per month, you know, one hundred, two hundred,
Speaker 4: three hundred, one thousand units per month, but they all
Speaker 4: have two three thousand reviews. That means that there's a
Speaker 4: lot of ogs in that industry. There's a lot of
Speaker 4: people that's been selling that product. They have established track
Speaker 4: record with that industry. People prefer that brand, just like Colgate.
Speaker 4: Like if you go onto Toothpaste, it doesn't matter if
Speaker 4: you're cheaper or you're better. People love Colgate. They're not
Speaker 4: going to try the new guy, right, So that's how
Speaker 4: we establish does that product have high demand, low competition?
Speaker 4: Is a lot of sales, a little bit of reviews.
Speaker 2: Yeah.
Speaker 6: So now that you have the product and you're registered
Speaker 6: on Amazon dot com, what's the process of getting it
Speaker 6: to the front page because that's what everybody sees, right
Speaker 6: or even in the first two pages. Is there like
Speaker 6: an SEO strategy that you can use.
Speaker 4: Yeah, So SEO is search engine optimization, And that's a
Speaker 4: good question. So a lot of the money, Like I said,
Speaker 4: Amazon is the search engine, just like Google. So the
Speaker 4: main goal as a seller is to get your product
Speaker 4: is hied to the first page as you can. And
Speaker 4: the way Amazon their whole algorithm works it's very simple.
Speaker 4: If you're the number one guy in the world and
Speaker 4: you're selling one hundred units a day, I just need
Speaker 4: to sell one more unit than you for a few
Speaker 4: days in a row. So all we have to do
Speaker 4: is run. We can do giveaways, and there's so many
Speaker 4: different tools. We can run giveaways. We can do influencer marketing,
Speaker 4: we can do PPC, which is pay per click, and
Speaker 4: the majority of this is all within Amazon Seller Central.
Speaker 4: We can do this all within Amazon. The only one
Speaker 4: that I use that's very effective that's outside of Amazon,
Speaker 4: which we were talking about, is influencer marketing, and this
Speaker 4: stuffs super super simple. Like in twenty eighteen, Jeff Bezos
Speaker 4: had a letter to shareholders that said that sales like
Speaker 4: third party sellers are kicking first party sellers butts. So
Speaker 4: people like me are kicking Amazon's actual brands butts and
Speaker 4: other huge conglomerates in brands butts because of the powerful
Speaker 4: resources that they're dumping millions of dollars into. So, like,
Speaker 4: I don't know if you guys ever try to run
Speaker 4: Facebook or YouTube or Google Ads. They're complex, they're difficult.
Speaker 4: The whole user interface is difficult, and you got to
Speaker 4: know what you're doing with seller Central like you can
Speaker 4: set these ads up in a like in a minute
Speaker 4: or less. There's a few buttons and you click start.
Speaker 4: It's not as complex is Facebook or Google, and they're
Speaker 4: very effective and we're able to literally take our product
Speaker 4: that no one knows about, that barely has any reviews
Speaker 4: and push it to the top of search results by
Speaker 4: this paid advertising. And then my secret weapon is the
Speaker 4: influencer marketing. So this is the only thing that's done
Speaker 4: outside of Amazon, and basically it works like this. I
Speaker 4: use Instagram because a lot of people know me On Instagram.
Speaker 4: You go into the search bar. Let's say we're launching
Speaker 4: a yoga mat. You type in hashtag yoga, and it's
Speaker 4: going to show all the hashtags, and next to it's
Speaker 4: going to show the number, which is the amount of
Speaker 4: actual searches and posts. You want to find that keyword
Speaker 4: that has the most searched search volume or post volume,
Speaker 4: which means it's the largest and most impression based keyword,
Speaker 4: meaning people are basically searching for that keyword. So it's
Speaker 4: going to be hashtag yoga. We click on hashtag yoga,
Speaker 4: and we scroll through all the feed and we just
Speaker 4: start clicking on different posts to find influencers. So influencer
Speaker 4: is someone who has a special following in a specific category.
Speaker 4: So we want to find someone that has over ten
Speaker 4: thousand followers. And the reason why ten thousand, ten thousand
Speaker 4: is the magic number is because on Instagram, if you
Speaker 4: have over ten thousand, you can do a swipe up story,
Speaker 4: meaning on their story you can swipe up and send
Speaker 4: them directly to a website. So we want to reach
Speaker 4: out to them by hitting the message button, which is
Speaker 4: the DM. Right yogat he made that famous. They want
Speaker 4: to slide into their DM and just say, hey, my
Speaker 4: name is Josh, I'm getting ready to launch this yoga
Speaker 4: mat on Amazon. I love your page, I love what
Speaker 4: you're doing. I'd love to give your audience a discount
Speaker 4: on my product, which is an amazing product, and I'd
Speaker 4: love to work with you. And they're gonna be like, yeah, sure, awesome.
Speaker 4: Send me thirty bucks via cash app or via PayPal,
Speaker 4: send me your link and send me your content. So
Speaker 4: you send them a picture, you send them the link
Speaker 4: to your Amazon store. They post it. Now. People who
Speaker 4: love yoga who want to buy a yoga mat are
Speaker 4: going directly to your Amazon store to buy your product.
Speaker 4: And remember, all we got to do is sell more
Speaker 4: than the other guy a few days in a row
Speaker 4: to kick his butt and move up in the search results.
Speaker 4: And that's what we do, man, that's the whole strategy.
Speaker 3: Yeah, yoga MAT's another good one. Yoga MAT's a huge one,
Speaker 3: another product where nobody cares who makes a yoga mat.
Speaker 3: I haven't ever seen anybody that's tripping off of the designer.
Speaker 3: They're not looking for Gucci yoga mats. So let me
Speaker 3: ask you this. I think you might have access already,
Speaker 3: but I like to ask questions twice sometimes to really
Speaker 3: double down. For people that are slow learners like myself,
Speaker 3: this is this is the big This is the big
Speaker 3: one that everybody probably wondering. What's the budget that you
Speaker 3: actually need to get started in this business?
Speaker 4: Yeah, so I highly recommend obviously the more that you
Speaker 4: have access to, the better, but I recommend nothing less
Speaker 4: than one thousand dollars to micro launch and test your
Speaker 4: first product. Also, here's another thing. I'm an avid practitioner
Speaker 4: of OPM, which is other people's money. So even if
Speaker 4: you have cash burning a hole in your pocket or
Speaker 4: your banking account, but you have a zero percent interest
Speaker 4: credit card, or you can go sign up for a
Speaker 4: zero percent interest credit card. Use that because it's free
Speaker 4: money for the twelve months plus you're gonna get the
Speaker 4: bonuses and the benefits, so on and so forth. So,
Speaker 4: like I said, one thousand dollars to get started bare minimum,
Speaker 4: Definitely use lines of credit, business business lines of credit,
Speaker 4: or just credit cards. That's what I do. I'd never
Speaker 4: use my debit card. I personally use the gold Amax
Speaker 4: card because we get four x points on two different categories.
Speaker 4: So the two biggest categories that the money is going
Speaker 4: to be spent with your business is number one sourcing
Speaker 4: products and number two advertising. So with that gold Amax
Speaker 4: business card, you get four x the points on two
Speaker 4: categories which is products, right, sourcing products, manufacturing products, and
Speaker 4: then you're advertising. So I'm using that and I'm like,
Speaker 4: people see me traveling around the world like them. Flights
Speaker 4: are free, the hotels are free, and I'm doing it
Speaker 4: all off my Amax points.
Speaker 5: Yeah.
Speaker 6: So I know you mentioned Ali Baba as a potential
Speaker 6: manufacturer and partner. Are there any other ones that you
Speaker 6: would recommend or you know that's out there that are
Speaker 6: pretty good?
Speaker 4: Yeah? So Ali Baba is a website. It's like a
Speaker 4: broker and then it's like a It's almost like Amazon.
Speaker 4: So Amazon is not the seller, but they have sellers
Speaker 4: underneath their platform. Ali Baba is not a direct manufacturer,
Speaker 4: but people who are manufacturers go on lists underneath Ali Baba.
Speaker 4: There's a few others like Dhgate and Ali Express, which
Speaker 4: is a subsidiary Ali Baba, but Ali Baba is the
Speaker 4: largest and it's going to have the best prices direct
Speaker 4: B to B business and business dope.
Speaker 3: So that was a lot of information. But I just
Speaker 3: got one last question before we go into our last segment,
Speaker 3: virtual assistant. I saw you mentioned that on your YouTube channel.
Speaker 3: Can you just give some information on virtual assistance and
Speaker 3: how you're actually utilizing that.
Speaker 4: Yeah. Yeah, so vas or virtual assistants are like another
Speaker 4: secret weapon in my business because the whole thing is
Speaker 4: I follow This strategy is called the ASAP right, So
Speaker 4: ASAP is an acronym. It stands for Autonomous, sustainable Action,
Speaker 4: and perpetuity. So I'm always trying to find these four
Speaker 4: things and actions in there. Because faith without works is dead.
Speaker 4: You got to take action and you're not going to
Speaker 4: get any results, right, So I'm always trying to find
Speaker 4: out ways to automate and delegate and not participate. And
Speaker 4: that's what if you go back to the beginning of
Speaker 4: the story, Like my first mentor is always talking about
Speaker 4: touch it.
Speaker 5: Wait wait, wait, hold up, hold on, say that again.
Speaker 6: You said automate, delegate and not participate.
Speaker 4: Hey, I'm trying to find ways to automate and delegate
Speaker 4: and not participate. I'm always asking myself, is this the
Speaker 4: highest and best use of my time and energy? Like,
Speaker 4: you want to become a millionaire, you got to think
Speaker 4: like a millionaire. You want to become a billionaire, you
Speaker 4: got to think like a billionaire. And they're always they
Speaker 4: value their time more than anything and they will trade
Speaker 4: money for time ten times out of ten. So I'm
Speaker 4: always thinking of ways to scale the business and scale
Speaker 4: the velocity and the volume in our business without scaling
Speaker 4: the amount of energy and time it needs for me.
Speaker 4: So the way I'm able to scale my company is
Speaker 4: by taking the reputitious duties that need to be done
Speaker 4: and by outsourcing it for pennies on the dollar for employees.
Speaker 4: So many people think that they got to do everything,
Speaker 4: they got to wear every hat because they can't afford
Speaker 4: to hire an employee. But there's vas in all the
Speaker 4: top companies Fortune five hundred companies like Ge, like Apple,
Speaker 4: all these large companies, they use virtual assistance. And a
Speaker 4: lot of you guys who hear this right now, you're
Speaker 4: gonna be like like man, I was on the phone
Speaker 4: on customer support with this large company and it was
Speaker 4: someone who barely spoke English. And that's how they're able
Speaker 4: to do this is by using these vas, which are
Speaker 4: employees in other countries. So the best country that I
Speaker 4: have found that's not only very very affordable, but they
Speaker 4: are very loyal and very hard workers is workers out
Speaker 4: of the Philippines. So you can go to online jobs
Speaker 4: dot pH and you can hire virtual assistants to do
Speaker 4: daily tasks to help you with your business anywhere between
Speaker 4: a dollar fifty per hour and five dollars per hour,
Speaker 4: depending on what they're doing, a majority of my virtual
Speaker 4: assistants are at two dollars and fifty cents per hour USD.
Speaker 4: They work forty hours. And the beautiful thing on top
Speaker 4: of being able to hire people in your company who
Speaker 4: are loyal and hard working is if you're in America
Speaker 4: and like right now, it's twelve o'clock in the afternoon.
Speaker 4: Well in the Philippines, it's like twelve o'clock at night
Speaker 4: or eight o'clock at night. So while I'm sleeping, our
Speaker 4: other employees in other countries are actually working. So now
Speaker 4: our company is operating twenty four seven, three sixty five
Speaker 4: instead of twelve hours out the day or eight hours
Speaker 4: out the day. So that's two key components to scaling.
Speaker 4: Is number one, you're able to automate and delegate instead
Speaker 4: of you actually participating doing reputationous stuff. Because if you're
Speaker 4: doing reputations stuff that you can easily delegate, you're working
Speaker 4: for your company and not on your company. So and
Speaker 4: this took me years. Like I've made millions of dollars
Speaker 4: across my three companies, I've made millions of dollars. And
Speaker 4: it was a combination is as entrepreneurs, we're control freaks.
Speaker 4: It's like our baby, it's like our child, Like we
Speaker 4: built this thing up and we want control of everything.
Speaker 4: So it's hard to give it to someone else knowing
Speaker 4: they're not going to care for it the way that
Speaker 4: you would. They're going to treat it, you know what
Speaker 4: I mean, They're not going to treat it the way
Speaker 4: that you would. So it's difficult. But on the odverse
Speaker 4: side of that, you have to understand in order to
Speaker 4: scale that you have to be able to delegate. And
Speaker 4: that's like a key thing. Like you guys got to
Speaker 4: focus on working on your business instead of for your business.
Speaker 4: So now, like I'm an avid believe we're in the
Speaker 4: eighty twenty rule. I tell people this all the time.
Speaker 4: Eighty percent of the profits, eighty percent of the momentum,
Speaker 4: eighty percent of the results comes from twenty percent of
Speaker 4: the effort. And now I can get more done in
Speaker 4: less time now than before. When I was following the
Speaker 4: Gary Vee, Like, I was working sixteen hours a day,
Speaker 4: twenty hours a day hustling, and I would literally get
Speaker 4: depressed if I didn't fall asleep at my computer because
Speaker 4: I thought I wasn't doing everything I could, you know,
Speaker 4: to accomplish my why, which was helping my family out.
Speaker 4: Like I told you, guys, But now you can work smart,
Speaker 4: not hard, and by being productive. There's a huge difference
Speaker 4: between being productive and being busy. See, I thought being
Speaker 4: busy was being productive. Now by through time management and
Speaker 4: virtual assistance and you know, just keeping track of everything
Speaker 4: and using software as like Slack and Traillo, which are
Speaker 4: management tools. I'm able to be productive and accomplish way
Speaker 4: much more and less time, which means I could spend
Speaker 4: that time with my kids, with my wife, or working
Speaker 4: on other things.
Speaker 2: Not I was powerful.
Speaker 4: Man.
Speaker 3: That was a lot of information, a whole lot of games.
Speaker 3: So we about to bring it home in the last segment.
Speaker 3: So in the last second, we're going to talk about education.
Speaker 3: And you know, it's really weird because we bring a
Speaker 3: bunch of people on the podcast and all different walks
Speaker 3: of life and all different businesses. And you know, the
Speaker 3: one thing I always were puzzled about is that people
Speaker 3: like spend tens of thousands of dollars in college and
Speaker 3: they learn from business professors that most of the time,
Speaker 3: the people that are teaching these professors teachers, they never
Speaker 3: actually did what they are teaching.
Speaker 5: Everybody can tell you how to do it.
Speaker 4: They did.
Speaker 3: They just study business, so they teaching you about business,
Speaker 3: but they were never in business themselves. Right, But you
Speaker 3: never really think to question your college professor about the
Speaker 3: nonsense that he's teaching you. And then it's like an
Speaker 3: entrepreneur who might not even have a college degree, but
Speaker 3: it's a millionaire who've made a bunch of money, who's
Speaker 3: successful in their business, and they start a course to
Speaker 3: teach other people. People are very skeptical about that, Like
Speaker 3: I see that a lot, especially online. So it's just
Speaker 3: inter because I feel like you have to invest in
Speaker 3: your business. And we talked about this all the time,
Speaker 3: and I feel like, no matter what, the podcast is
Speaker 3: a great resource, and YouTube is a great resource. Google
Speaker 3: is a great resource. But if you're really serious about
Speaker 3: starting a business, like if you have no idea about
Speaker 3: anything at all and you're just trying to become you know,
Speaker 3: a trucker, even you know, four hours of a podcast
Speaker 3: probably isn't enough information. You probably want to pay one
Speaker 3: thousand dollars two thousand dollars to actually learn how to
Speaker 3: do it right. So but it's still interesting because people
Speaker 3: don't really pay a lot of times for education, and
Speaker 3: they make you make way more mistakes when you don't pay,
Speaker 3: because now you're just paying with experience and time, whereas
Speaker 3: if you actually paid and went through the proper educational channel,
Speaker 3: then you actually become a success.
Speaker 2: Yeah, because yeah, it's the same Like I said, it's
Speaker 2: the same thing with school. People have to look at
Speaker 2: it from school.
Speaker 3: I think we're just trained and we feel comfortable with
Speaker 3: school because that's like tradition and that's what we're used to. Whereas,
Speaker 3: like you know, untraditional forms of learning, like learning from
Speaker 3: an entrepreneur stuff like that. A lot of people are
Speaker 3: kind of skeptical and they don't really believe they want
Speaker 3: to do it themselves. But it's like, would you just say, Okay,
Speaker 3: I watch YouTube for an hour and now I can
Speaker 3: be a doctor, Like probably not qualify to give open
Speaker 3: heart surgical de yeah, probably got go to medical school.
Speaker 3: So and then I always realized that for me, entrepreneurs
Speaker 3: that teach people they're interesting too, because it's like they
Speaker 3: made money in their business already, they don't necessarily have
Speaker 3: to teach. Of course, teaching is a business as well.
Speaker 3: We never apologize about making money. That's the whole point
Speaker 3: of any formal business. You should always get paid for
Speaker 3: any service that you do, as long as it's done well.
Speaker 3: But I'm just curious to when entrepreneurs decide to teach
Speaker 3: other people. So you you're interesting because you come from
Speaker 3: humble beginnings. Then you made a boatload of money, You
Speaker 3: made millions of dollars, So at what point did you
Speaker 3: decide that having money and being successful wasn't good enough
Speaker 3: and you wanted to actually start teaching because you have
Speaker 3: a whole educational portal and you teach people how to
Speaker 3: do this. So yeah, what was your thought processing and
Speaker 3: journey into doing that?
Speaker 4: Yeah? Absolutely so. First and foremost, I understood the sorority
Speaker 4: that a formal education will earn you a living and
Speaker 4: self education will earn you a fortune. The only difference
Speaker 4: between where I was five years ago in twenty fourteen,
Speaker 4: the beginning of twenty fifteen making bare minimum wage, not
Speaker 4: being able to barely survive and put a roof over
Speaker 4: my family's head or food on the plate, and now
Speaker 4: where I am, you know, a self made millionaire before thirty.
Speaker 4: The only difference is the information, right, and I understood
Speaker 4: that information changes situations, but only through implementation. I understood
Speaker 4: that was the lack. The reason why people love school
Speaker 4: is because you're in a school setting and you're forced
Speaker 4: to actually implement. That's why so many actual entrepreneurs fail
Speaker 4: is because when they get started, they give up too early.
Speaker 4: So the one main word that made me want to
Speaker 4: get into the educational space and start teaching with the
Speaker 4: AMZ formula's impact right, The AMZ formula was my formula.
Speaker 4: I created it for myself. You know, It's made me
Speaker 4: millions of dollars, so I knew it was tried and
Speaker 4: true because I was doing it myself. And the reason
Speaker 4: why I got into this space is because impact, not
Speaker 4: because of the income, because my real estate, my actual
Speaker 4: Amazon business, and my other businesses generate my full time income.
Speaker 4: And to be completely honest, the education actually cannibalizes what
Speaker 4: I was telling you guys about spending less time and
Speaker 4: making more money because my education requires more of my
Speaker 4: time than my other businesses they're generating income. Twenty four
Speaker 4: seven three sixty five. But at a certain point in
Speaker 4: your career you have to understand what impact is and
Speaker 4: what self fulfillment is. See so many people they don't
Speaker 4: have X amount of money or they haven't accomplished enough
Speaker 4: things on their bucket list, so their main priority is
Speaker 4: money because they think that'll end everything. And being twenty
Speaker 4: seven twenty eight years old, self made millionaire, lost everything
Speaker 4: off on my bucket list, retired, my moms, retired, my wife,
Speaker 4: set my kids up with trust funds, traveled all around
Speaker 4: the world, money in the bank, forty plus investment properties,
Speaker 4: and I found myself sitting in my leven room, like
Speaker 4: severely depressed, almost contemplating suicide, like like what do I
Speaker 4: have left to do? What is left to do? I
Speaker 4: did everything, And so many people think that money buys happiness,
Speaker 4: and I'm telling you, I bought everything that I ever wanted,
Speaker 4: that I ever dreamt of, and I was depressed, man,
Speaker 4: And it all boils down to happiness comes from within.
Speaker 4: It comes from within, and things that you do that
Speaker 4: self fulfilling. So it wasn't until I remembered me praying
Speaker 4: to God literally, like God, show me something other than
Speaker 4: the streets, show me something other than what I'm doing,
Speaker 4: to help me change my family's life, and I'll do whatever.
Speaker 4: Like I remember like trying to barter with God, like
Speaker 4: help me out, and like it just clicked and I
Speaker 4: had an epiphany and I said, you know what, let
Speaker 4: me just start a personal brand. When I started my
Speaker 4: personal brand, I did it with zero intention of creating software,
Speaker 4: creating an online educational platform or nothing like that. I
Speaker 4: just wanted to give my gift away and I wanted
Speaker 4: to be a blessing to others. And it so rapidly
Speaker 4: grew that people off the information I had where their
Speaker 4: lives were changing all around the world, and it felt good,
Speaker 4: like it sparked that. It sparked that feeling in me.
Speaker 4: When I had my first salor, when I made my
Speaker 4: first million, it sparked that spark again, and I was like, Wow,
Speaker 4: maybe this is what I was meant to do. So
Speaker 4: the rest was all downhill from there. I've been teaching
Speaker 4: people and literally we have students in sixty three plus
Speaker 4: different countries, thousands of students, and I do this because
Speaker 4: of the impact, not the income. So and I love it.
Speaker 4: I'm passionate about it. If you can't tell by this podcast.
Speaker 3: Nah, Like I said, you know, I'm a big proponent
Speaker 3: in education and all forms of education. I'm not anti
Speaker 3: formal education, but I just feel like, you know, a
Speaker 3: lot of times, especially in this country, we're only taught
Speaker 3: to think that the only way that you can actually
Speaker 3: learn is through the traditional school system. And I don't
Speaker 3: know how many times we have to realize that school
Speaker 3: system is broke, and you know, unfortunately for the vast
Speaker 3: majority of people, that's not going to be enough. You
Speaker 3: need to learn outside of that. And that's even why
Speaker 3: we have Eyo University, and there's a bunch of other platforms.
Speaker 3: But you know, it's really interesting. Like I said, if
Speaker 3: people think about it, people won't bad and I at
Speaker 3: taking out student loans and you know, ruining their future
Speaker 3: for money that they don't have to pay for a
Speaker 3: degree that will amount to nothing, you know. Communications. The
Speaker 3: reason why I say communications degree is I have communications exact,
Speaker 3: I'm lucky enough to not have to use my degree.
Speaker 3: I'm an entrepreneur. But so I'm not bashing anybody has
Speaker 3: a communications degree. I just I have a communications degree,
Speaker 3: and if I wasn't an entrepreneur, I'd be royally screwed
Speaker 3: right now. So you know, what is it as far
Speaker 3: as that is concerned, Because yeah, you know, you have
Speaker 3: a generic degree like communications or something like that, philosophy,
Speaker 3: and you go out in the world and you get
Speaker 3: a piece of paper and it's like good luck, and
Speaker 3: you know, let's hope that it works out for you.
Speaker 4: Really, that's all it is, right right. People often say
Speaker 4: it's a scam. You know, it's a scam, and it's
Speaker 4: because it's going against the grain, it's going against the norm.
Speaker 4: You're gonna get resistance whenever you go against the grain,
Speaker 4: like we were talking earlier about just being able to
Speaker 4: do this and why, Like I was telling you what
Speaker 4: my family and even my parents were saying about this.
Speaker 4: You know, our generation before us and the generation before
Speaker 4: them didn't have this opportunity. It did not exist. So
Speaker 4: when you're going against the norm, when you're going against
Speaker 4: the grain and there's a new opportunity and it sounds
Speaker 4: too good to be true, people think that it's a
Speaker 4: scam because it does sound too good to be true. Everybody,
Speaker 4: there was two ways. You get an education, or you
Speaker 4: learn a skill set. You're a doctor or a mechanic
Speaker 4: or a construction worker or that's it. That was basically
Speaker 4: the options that the people before us, our parents and
Speaker 4: our parents and our grandparents had. There was no other options.
Speaker 4: My grandfather worked in the steel mill, lost his hearing
Speaker 4: you'd work there his entire life. You know, a lot
Speaker 4: of our parents work at the same job and then
Speaker 4: they retire. Changed, right, Communications have changed, Electronics have change,
Speaker 4: and the opportunity is changed along with it. And just
Speaker 4: like you said, going back to the school, I just
Speaker 4: think it's crazy that so many people, like we call
Speaker 4: it the forty forty plan, so people literally spend forty
Speaker 4: thousand dollars working forty years of their life to retire
Speaker 4: on forty percent of what they were making while they
Speaker 4: were working. And that's supposed to be okay. If you
Speaker 4: ask me, that's a scam because the person you're learning from,
Speaker 4: the professor you're learning from, is not invested in your
Speaker 4: well interests. Their name is not associated to the curriculum
Speaker 4: that they're teaching, and nine times out of ten, man
Speaker 4: to be honest, that curriculum is outdated and it's impersonal.
Speaker 4: Like I believe the reason why I dropped out of
Speaker 4: high school wasn't because I was bad or I was dumb.
Speaker 4: I think that it's not fair that you throw thirty
Speaker 4: forty people in a classroom that all have different learning
Speaker 4: sets and different learning preferences, and you force them to
Speaker 4: learn the same way. I don't think it's right, and
Speaker 4: that's why, Like, you know, the only difference between where
Speaker 4: I was and where I was now is learning that
Speaker 4: skill set. Like, if you want increase your income, increase
Speaker 4: your skill set. It's that simple. So I'm a practitioner
Speaker 4: of education mentorship all the time. I'm constantly flying around
Speaker 4: the world to learn from some of the best. It's
Speaker 4: the fastest way to fast track your success. Like, if
Speaker 4: you want to fast track your success and learn something,
Speaker 4: you just learn from someone who's done it. It's like
Speaker 4: the GPS. Like when we travel, I get off the
Speaker 4: plane and I'm somewhere. I don't know where I'm at.
Speaker 4: I enter in the instructions to the GPS to my hotel.
Speaker 4: Why do we use a GPS because it's going to
Speaker 4: take us somewhere we've never been with no confusion. We're
Speaker 4: not going to get lost, We're not going to waste gas.
Speaker 4: It's the same thing like education is the GPS to
Speaker 4: start in that business and being successful.
Speaker 6: Yeah, it's tough to argue with y'all when y'all talking
Speaker 6: about education man as somebody who's in the profession man,
Speaker 6: which I'll say is one thousand percent right. But I'm
Speaker 6: interested in knowing how you were able to scale this right, So,
Speaker 6: I know you started out with a to z in
Speaker 6: Amazon and now you have the Amazon formula. What was
Speaker 6: your methods to scaling this business and growing it so fast?
Speaker 6: You went to sixty three countries, over ten thousand students,
Speaker 6: you made millions?
Speaker 5: What was the strategy?
Speaker 4: So the way that we scaled. The education piece is
Speaker 4: just through literally focused Before we scaled and we allowed
Speaker 4: the company to scale, we focused on the consumer and
Speaker 4: what the consumer needs. And since this was an education
Speaker 4: business that was based around something that I've already done,
Speaker 4: I knew exactly what you needed. So it was just
Speaker 4: dialing in on making sure that everybody got the attention
Speaker 4: that they needed, letting in beta students, going through the program,
Speaker 4: going through the entire process, helping them get results, and
Speaker 4: then getting feedback. Like one of the main things that
Speaker 4: we do that a lot of people don't do and
Speaker 4: I thought it was I almost didn't do it. I
Speaker 4: thought it was fluff and I was like, I don't
Speaker 4: know if I should do this is add a lot
Speaker 4: of mindset stuff to the program. We had a lot
Speaker 4: of mindset stuff to the program. Another way we were
Speaker 4: able to scale this and get have such a high
Speaker 4: student success ratio is because of the live coaching. Instead
Speaker 4: of just a portal or a program that you go
Speaker 4: and you know, good luck, there's actually live chat rooms
Speaker 4: that are active twenty four seven, three sixty five. There's
Speaker 4: live bi weekly coaching. So like the coaches and myself,
Speaker 4: everybody was literally getting feedback from everybody. When somebody was
Speaker 4: stuck or became complacent, we got that feedback and then
Speaker 4: we added systems, We added curriculum, we added different modules,
Speaker 4: different areas of homework, things to help those people. So
Speaker 4: just perfecting that over the last few years, going back,
Speaker 4: diving into everything, dialing everything in is how we were
Speaker 4: able to scale. And once we had the infrastructure set
Speaker 4: up and our success rate was where we wanted it
Speaker 4: to be, then we were able to scale it. And
Speaker 4: we scaled it through through web classes, through presentations, through speaking,
Speaker 4: and just through my personal brand.
Speaker 3: So what are you teaching a program? Like if somebody
Speaker 3: enrolls in the program, what are the things that they
Speaker 3: learn and what are the steps that are provided to
Speaker 3: help them get up and run in?
Speaker 4: Yeah, so the AMZ formula is perfect, irregardless if you're
Speaker 4: a beginner and you're just starting and today was the
Speaker 4: first time that you ever heard about Amazon, or if
Speaker 4: you're already at five figures and you want to get
Speaker 4: to six or beyond seven, right, because it teaches you
Speaker 4: everything in a chronological order, just like a book. So
Speaker 4: you start with the introduction the acronyms, what is the business,
Speaker 4: how does the business work? Then you move on to
Speaker 4: product research. From product research, we go on to verifying
Speaker 4: and validating the products. Then we go on to the
Speaker 4: next setting, which is going to be how to find
Speaker 4: the supplier, how to contact suppliers, how to negotiate, how
Speaker 4: to make sure that you know your money is secured,
Speaker 4: your investments secure that you're not getting scammed, the entire
Speaker 4: the entire process. Then we move on to getting our
Speaker 4: products checked into the fulfillment center and doing the micro
Speaker 4: launches where we spoke about the proprietary section on how
Speaker 4: you can literally profit on a failed product using this strategy,
Speaker 4: we want a micro launch it instead of doing the
Speaker 4: opposite of we're literally doing the opposite of what everybody's doing.
Speaker 4: Instead of getting our photos professionally taken and spending a
Speaker 4: bunch of money, we're getting it to Amazon as quickly
Speaker 4: as possible to get real data once it passes the
Speaker 4: micro launch. Then we move on to skyrocket and scale,
Speaker 4: which is how we literally scale that brand and we
Speaker 4: ail our business by ordering more products, reducing the product
Speaker 4: costs by renegotiating, increasing the quality through pictures, through branding,
Speaker 4: using exterior branding methods like influencers that we talked about
Speaker 4: and then we talk about the longevity aspects. So every
Speaker 4: business should have a plan. And this is not a hustle.
Speaker 4: And this is why I told you guys, I fell
Speaker 4: in love with this business. I was tired of hustling.
Speaker 4: This is a real business, so irregardless, if you want
Speaker 4: to leave this business to your kids, grandchildren, whomever, or
Speaker 4: you want to exit it, you need to have that strategy.
Speaker 4: So we share with you how to get an evaluation
Speaker 4: for your company, what you need to do to actually
Speaker 4: increase the evaluation of your company and make it a
Speaker 4: legitimate company. Your URL, your trademark, your copyright, the entire thing.
Speaker 4: And then actually where to go to sell your company
Speaker 4: if you want to sell your company. So we literally
Speaker 4: from start to finish, show you how what the business is,
Speaker 4: how to start the business, how to find the products,
Speaker 4: and then how to exit that company down the road
Speaker 4: or know how to set your company up to thrive
Speaker 4: in the future. Hiring VAS if you want to automate this,
Speaker 4: If your goal is just to make ten thousand dollars
Speaker 4: a month or whatever it is, we show you how
Speaker 4: to automate it through VAS. If your goal is to
Speaker 4: replace your job and you need a X amount of money.
Speaker 4: We show you how to reverse engineer that and how
Speaker 4: to build it. If your goal is just to create
Speaker 4: something that's going to make some money to get into
Speaker 4: another endeavor, we show you how to do everything. So
Speaker 4: it's literally perfect for everybody at any scenario.
Speaker 3: Yeah, I like what you said right there, was like,
Speaker 3: you know, if you want to just earn ten thousand
Speaker 3: dollars a month, that's the kind of talk I like
Speaker 3: right there, Like that's like being a minimum. It's like
Speaker 3: what we're talking about, that's minimum. That's minimum pay right there,
Speaker 3: ten thousand a month, And that's what we always say.
Speaker 3: That's why I say one hundred thousand. If it's not
Speaker 3: a one hundred thousand, we ain't rocking with it. So yeah,
Speaker 3: if you just want to make ten thousand, I like that.
Speaker 3: That's that's the kind of that's the kind of talk.
Speaker 3: I love talk.
Speaker 2: That's big boy talk right there.
Speaker 3: So so yeah, you know, it's really dope because whenever,
Speaker 3: you know, we bring different people on, and a lot
Speaker 3: of people do have courses, and we always you know,
Speaker 3: are number one probably already is ey L, the community,
Speaker 3: ey L community. So whenever we talked to people that
Speaker 3: have courses, we always try to get you know, a
Speaker 3: special offer if we can. We need like if they
Speaker 3: got a discount going, we need a discount plus some.
Speaker 3: So you know, I spoke to you about it, and
Speaker 3: you know, I asked you, like, you know, could you
Speaker 3: do a special deal for us? And you was gracious
Speaker 3: enough to you know, lower the price even lower than
Speaker 3: what it was. And I think you have we have
Speaker 3: a special arrangement with ey L where we have a
Speaker 3: lower price, and I think anybody else nowhere else on
Speaker 3: the internet can you get your package as low as
Speaker 3: you're going to get it from our link. So I
Speaker 3: appreciate that because, like I said, you know, we had
Speaker 3: a couple of conversations. I kind of just explained to
Speaker 3: you why, you know, it's important that we try to
Speaker 3: get the price as low as possible for our people.
Speaker 3: And you know, to your credit, you was a gentleman
Speaker 3: about it. You had no problem and we worked it out.
Speaker 3: So can you can you tell the people like the deal?
Speaker 3: Because like I said, I think we have the lowest
Speaker 3: price on the market.
Speaker 4: Right, absolutely special, So first and foremost, like I was
Speaker 4: blessed and just humbled to be on here. This is
Speaker 4: like an accomplishment for me to be able to speak
Speaker 4: get back to the community because this is what I
Speaker 4: want to do. So it was perfect timing when you
Speaker 4: reached out to me, because we literally just re recorded
Speaker 4: the entire program and relaunched the AMZ Formula remasters. So
Speaker 4: it's seventy plus videos, two dozen resources, bi weekly coaching
Speaker 4: calls with me Live that's twenty four calls a week.
Speaker 4: It's got We got a live chat room that's active
Speaker 4: twenty four to seven three sixty five. And the price
Speaker 4: point for the AMZ Formula with everything that was in
Speaker 4: the remastered section is nineteen ninety seven. So what we
Speaker 4: did is we left it at fifty percent off for
Speaker 4: nine ninety seven. But I said, you know what, fifty
Speaker 4: percent off isn't good enough. We need to do something
Speaker 4: special for the eyl fams. So what we did is
Speaker 4: we created the funnel, moved everything separately, and even got
Speaker 4: our own special domain, which is eylfba dot com. So
Speaker 4: on top of the fifty percent off, we knocked another
Speaker 4: one hundred dollars off which will allow you to go
Speaker 4: ahead and get started, get your software, and get you
Speaker 4: started from a to zase. So it's www dot e
Speaker 4: y l for earn your Leisure f b A for
Speaker 4: fulfillment by Amazon dot Com.
Speaker 3: Yeah, and we also have the link and the description.
Speaker 3: If you're listening on Apple or Spotify, the description there,
Speaker 3: and then if you're watching this on YouTube, it'll be
Speaker 3: the description of this video. And we also have it
Speaker 3: on our website, earn leisure dot com under our Alumni
Speaker 3: Programs tab. You go to earn Leisure dot com and
Speaker 3: go to alumni Programs tab and then it'll be up there.
Speaker 3: And once again, I really appreciate you for doing that
Speaker 3: because you know it's imperative. You know, us as business people,
Speaker 3: we try to always get the best offer as possible,
Speaker 3: so we want we want the best offer for you know,
Speaker 3: our supporters in our community. So that's why you know,
Speaker 3: when I approach you with it, and you didn't try
Speaker 3: to go back and forth with me. You knocked it
Speaker 3: down even further than when it was already discounted and
Speaker 3: gave us, you know, rights to have the cheapest on
Speaker 3: the market as far as your product is concerned.
Speaker 2: So yeah, I appreciate that.
Speaker 4: Man.
Speaker 3: One of one deal that you're running with Earn your Lisia.
Speaker 3: Nobody else has that. And once again, we really appreciate that.
Speaker 5: We're really grateious man.
Speaker 6: And like I said, everybody, especially in these times, is
Speaker 6: using Amazon, so now we get to open their eyes
Speaker 6: to a way to make money from the actual website itself.
Speaker 5: So thank you.
Speaker 4: Again, absolutely, I appreciate. It's a blessing to be a blessing. Man.
Speaker 4: I'm super excited and humble that you guys allowed me
Speaker 4: on the show. And I can't wait to contribute to
Speaker 4: each and everybody's success and help everybody get started. Like
Speaker 4: it's super humbling to be able to help people change
Speaker 4: their life with the business model that changed my life.
Speaker 4: It's my favorite thing on planet Earth. So it's a
Speaker 4: blessing to be a blessing.
Speaker 6: Yeah, you officially alumni, josh So welcome, Welcome to the club.
Speaker 2: Yeah yeah, yeah for sure.
Speaker 3: So, you know, how can people follow you on social media, website,
Speaker 3: any other initiatives that you have going on, you know,
Speaker 3: let the people be aware of how they can contact you.
Speaker 4: Yeah for sure. So on Instagram, it's at official Joshua Crisp.
Speaker 4: On YouTube, it's just my name, Joshua Crisp. On Facebook,
Speaker 4: It's Joshua Crisp. The podcast is from Nothing to Something.
Speaker 4: The story from seven to twenty five to seven figures.
Speaker 4: So that's on all major podcasts from nothing to something,
Speaker 4: and that's pretty much it. Man, the AMZ formula.
Speaker 2: Dope Dope, Troy house Keeping items.
Speaker 6: Yeah Yeah, shout out to everybody on patreon dot com.
Speaker 6: That is our private paid program. Y'all know about that.
Speaker 6: I want to give a huge shout out to Rosetta,
Speaker 6: she called us from our lady the other day. And
Speaker 6: shout out to all the law practitioners in La the
Speaker 6: La County Man had an amazing story about some of
Speaker 6: the things that they're planning and hopefully we can be.
Speaker 5: A part of that.
Speaker 6: And shout out to everybody on Ernalisia University Man. That
Speaker 6: is our online school man, and it is taken off.
Speaker 6: Everybody has been hoarding to the site, man, so we
Speaker 6: are happy to have you and welcome you and everybody
Speaker 6: that's in our private real estate group headed up our
Speaker 6: brother MG the mortgage guy. Shout out to y'all the earners.
Speaker 6: They came out in full storm this month, Man, so
Speaker 6: we appreciate y'all and everybody that's been ordering the merch Man.
Speaker 6: We got some new colors up there, so I mean
Speaker 6: that body that's been support and that we appreciate you.
Speaker 6: And we got some new colors coming, so be on
Speaker 6: the lookout for that.
Speaker 2: Yeah, she got read on. I think we got the
Speaker 2: red up.
Speaker 5: I don't even got the red one.
Speaker 2: I'm not even show if we put it up there.
Speaker 3: We got we got a whole new collection of merchant
Speaker 3: and yeah, the private Villa Estate Facebook group is a
Speaker 3: whole entire wave, So Engelia University dot com. All the
Speaker 3: information is up there. That's off and running. We got
Speaker 3: about forty webinars already done. We do weekly webinars. We
Speaker 3: do a bunch of different stuff. Got a book club,
Speaker 3: movie club, all kinds of stuff as a whole vibe.
Speaker 3: So yes, once again, you know, we appreciate you guys
Speaker 3: for rocking with us.
Speaker 2: We'll see you next week.
Speaker 5: They safe, y'all, be safe, peace, peace, coach.
Speaker 4: The energy out there felt different.
Speaker 1: What changed for the team today?
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Speaker 6: Are you saying it was the off field play that
Speaker 6: made the difference on the field.
Speaker 7: Hey, little play makes your day, and today it made
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