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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will.

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Speaker 2: Be protected sponsored by the United States Department of Homeland Security. Now, Josh,

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Speaker 2: I've been an Amazon member for about that time. But

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Speaker 2: what turns you on to the FBA side of it?

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Speaker 3: So the FBA side of it, fulfillment by Amazon is

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Speaker 3: what FBA is is one of the best ways that,

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Speaker 3: in my personal opinion, you can sell on Amazon. So

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Speaker 3: there's a few different types of ways to sell on Amazon.

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Speaker 3: I'm glad you asked that question. Like I previously said,

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Speaker 3: I was hustling stuff. So when I was going online

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Speaker 3: trying to find ways to make money, I found out

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Speaker 3: about arbitrage, which is another way you can sell online,

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Speaker 3: which is where you take brand name products that already exist,

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Speaker 3: large brand name products, you buy them at a discounted price.

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Speaker 3: So if they're on sale or they're at the thrift

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Speaker 3: store or something like that, and they're below MSRP, which

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Speaker 3: is manufactured suggested retail pricing, you buy it at that

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Speaker 3: discount and you sell it at full price and you

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Speaker 3: keep the difference. So I was already doing that. I

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Speaker 3: was taking my little bit of money and I was

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Speaker 3: going to the Salvation Army and trying to find designer clothing,

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Speaker 3: and I was reselling it on eBay for that full markup.

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Speaker 3: And I was doing the same with Amazon. I was

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Speaker 3: trying to find stuff online discounts coupons and buy it

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Speaker 3: on sale and sell it at full price and keep

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Speaker 3: the difference. So when he told me about Amazon, I

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Speaker 3: started researching and learning about Amazon. I learned about arbitrage

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Speaker 3: and I knew that you could do it on Amazon,

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Speaker 3: but that was like a hustle. I wanted a real

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Speaker 3: business that was going to work for me because my

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Speaker 3: mentor always told me that the true key to success

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Speaker 3: is to have your money work for you without you

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Speaker 3: working for it. Like he told me, like, you got

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Speaker 3: to eliminate the hustle mentality, Like, of course you got

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Speaker 3: a hustle to get things started, but the end you

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Speaker 3: should have the end in mind in the beginning, and

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Speaker 3: the end is to have your business work for you

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Speaker 3: without you working for it. He was always telling me

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Speaker 3: about less touches and to work on your business, not

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Speaker 3: for your business. So when I was looking at these

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Speaker 3: different methods, I was like, I'm already doing this and

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Speaker 3: I'm still hustling stuff and it's not sustainable. Like at

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Speaker 3: that time, I didn't know what sustainable was. But he

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Speaker 3: would break things down to me, like, you need something

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Speaker 3: that you can sell over and over and over again.

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Speaker 3: What you're doing is making you some fast cash. But

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Speaker 3: you can't find these clothes on sale. You can't find

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Speaker 3: these products on sale all the time. So when looking

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Speaker 3: at these different methods and stuff in business. I said,

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Speaker 3: you know what, like the light really, the light bulb

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Speaker 3: really went off. I'm like these large brands like beat

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Speaker 3: By dre or Apple, these large brands are finding products

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Speaker 3: that have demand that people need, that they're buying every

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Speaker 3: single day, irregardless of the day, the month, the age,

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Speaker 3: the gender, and they're using Amazon to sell it. Right,

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Speaker 3: they don't need a physical store. You don't. You don't

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Speaker 3: need to do this. You don't need to make some

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Speaker 3: special product. And there's products that people are gonna continuously need.

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Speaker 3: So that's when I learned the difference between the two,

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Speaker 3: and I dove in to FBA, which is private label,

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Speaker 3: so you can sell on Amazon arbitrage, private label, or wholesale.

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Speaker 3: These are different business strategies, but the strategy that I

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Speaker 3: actually sell right, the business model is called private labeling.

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Speaker 3: So instead of selling other people's products, large brand name products,

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Speaker 3: we find products that people want that have high demand,

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Speaker 3: low competition, and we create our own brands and then

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Speaker 3: we sell them. So that's what I specifically do.

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Speaker 4: So can we get into it the basic basic ground

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Speaker 4: level one one explanation of what is FBI Understand that

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Speaker 4: you're selling and is fulfilled by Amazon. You sell of Amazon,

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Speaker 4: but what does it actually entail? Can you give the

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Speaker 4: one oh one on the situation?

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Speaker 3: Yeah? Yeah, So FBA is fulfillment by Amazon. And this

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Speaker 3: is how to hold. Like a bird's eye view looking down.

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Speaker 3: This is a hold how the whole business works. So

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Speaker 3: we find these products. Once we find these products, we're

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Speaker 3: gonna find a supplier. Rather in the US or overseas,

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Speaker 3: doesn't matter where the supplier is at. The supplier is

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Speaker 3: gonna make our product. Once that supplier makes our product,

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Speaker 3: they're gonna ship it directly to Amazon. And this is

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Speaker 3: where the FBA kicks and the fulfillment by Amazon. Once

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Speaker 3: Amazon receives that product in their warehouse, they're gonna facilitate it.

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Speaker 3: But then they're gonna disperse it to other Amazon warehouses.

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Speaker 3: And that's how we They can ship products. And it

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Speaker 3: can be Prime eligible, which like eighty percent high eighty

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Speaker 3: percent of everybody who shops on Amazon or Prime members,

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Speaker 3: so over one hundred and fifty million Prime members in

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Speaker 3: the US. And basically that means whenever we go online

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Speaker 3: on Amazon and shop, we get our product to our

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Speaker 3: doorsteps in two days. So Amazon facilitates it disperses it

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Speaker 3: to other Amazon locations, and then when consumers people like

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Speaker 3: me and you, go buy products online, Amazon picks it,

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Speaker 3: they pack it, they wrap it, use their own boxes,

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Speaker 3: their own labels, their own workforce. You know, it's under

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Speaker 3: their warehouse, and then they ship it directly to customers.

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Speaker 3: And if we get it and we're like, yo, this

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Speaker 3: isn't what we wanted, or you know, it was warehouse damaged,

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Speaker 3: or they just decided they don't want it anymore, Amazon

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Speaker 3: even handles the customer service. So literally all we do

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Speaker 3: is we find the products, we find the supplier, and

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Speaker 3: we manage our inventory in our advertising, which is all

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Speaker 3: done from the Seller Central portal, which Amazon created, And

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Speaker 3: that's like the bird's eye view of how the whole

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Speaker 3: system works.

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Speaker 4: So the products aren't like company products, that actually just

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Speaker 4: random products and you're labeling it under your company. That's

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Speaker 4: kind of what I'm understanding. So can you give us

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Speaker 4: an example of like what kind of products that would

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Speaker 4: entail for this?

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Speaker 3: Yeah? Absolutely, so I got I got like they're all

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Speaker 3: around the house, this little lent roller like I've just

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Speaker 3: used before the interview to get the lin off my shirt.

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Speaker 3: We would find a product like this like, there's no

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Speaker 3: label on this anywhere. And let's just say that there's

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Speaker 3: a huge brand. Just because a huge brand sells this

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Speaker 3: product doesn't mean that we can't sell this product. You

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Speaker 3: just can't sell it as them if you're not a licensee.

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Speaker 3: So we would find a product that people have a

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Speaker 3: demand for, that people are going to use every single day,

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Speaker 3: irregardless of where they live, how old they are, gender,

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Speaker 3: et cetera. And then we would create our own brand,

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Speaker 3: so now it would be private labeled by our brand.

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Speaker 3: We would put our brand on it, we would ship

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Speaker 3: it directly to Amazon and they do the rest. See

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Speaker 3: what like a lot of people don't know, Like when

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Speaker 3: you think of like when you need to blow your nose,

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Speaker 3: you say, hey, can you pass me that Kleenex? Right?

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Speaker 3: Kleenex is a brand. The name of the product is tissue, right,

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Speaker 3: So that and that's like brand notoriety. That's what we

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Speaker 3: do is we try to become APEX predators for these

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Speaker 3: different categories, saying like when you get out the shower,

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Speaker 3: use a Q tip, right, Well, it's actually a cotton swab.

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Speaker 3: Q tip's the brand name. It's a private label brand name.

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Speaker 3: We find these products that people need and we try

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Speaker 3: to become household names. We just find ways to differentiate

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Speaker 3: them and prove them and to gain market share through

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Speaker 3: differentiating the products. And that's what we do.

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Speaker 2: So you put your logo on it, you put your

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Speaker 2: brand on it. But after that it comes to a

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Speaker 2: manufacturing standpoint, like what's that process like?

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Speaker 3: So once we find a product, so first we want

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Speaker 3: to verify and validate the product before we even order it.

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Speaker 3: So a few things we do is make sure it's

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Speaker 3: not a seasonal product. So I don't know if y'all

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Speaker 3: got kids, but I got kids and we had these

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Speaker 3: fidget spinner things all around the house. Right, that's a

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Speaker 3: trending product. It went up like this and just as

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Speaker 3: quick as it went up, it knows dives. So once

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Speaker 3: we verify that it's not a trending product, we move

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Speaker 3: forward and you can go to Google Trends. It's a

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Speaker 3: free tool. Type in the name of your product and

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Speaker 3: you can look at a historical chart, so it'll show

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Speaker 3: you like, for the last five years, ten years, has

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Speaker 3: this product been selling every day? So once you identify

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Speaker 3: it's going to sell every single day, because that's what

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Speaker 3: we want. We don't want to hit or miss. We

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Speaker 3: want something that's going to make money every single day.

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Speaker 3: After we knock out the trending, then we look at

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Speaker 3: the seasonality so we can go on Google Trends again.

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Speaker 3: If it's only selling tours October like pumpkin carving kit,

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Speaker 3: or November and December like Christmas lights, then it's a

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Speaker 3: seasonal product. We don't want that. We want January through December.

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Speaker 3: So after we do these little things to verify and

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Speaker 3: validate that product, we go to ali Baba, which is

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Speaker 3: where we find the suppliers. It's free to use ali Baba.

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Speaker 3: You don't need any type of special account, nothing like that.

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Speaker 3: And we're gonna go and type in the name of

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Speaker 3: our product. So just we would type in lent roller

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Speaker 3: into ali Baba, it's going to show all these manufacturers.

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Speaker 3: We want to reach out to the manufacturer and we

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Speaker 3: want to do our due diligence and make sure that

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Speaker 3: they're one hundred. So how long have they been in business,

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Speaker 3: how many employees do they have, what is their gross

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Speaker 3: annual revenue, how many star ratings do they have? Look

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Speaker 3: at them on Better Business Bureau and prevet them to

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Speaker 3: make sure that they're legit. And then that's where you

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Speaker 3: do your negotiating. Once you come to a conclusion on

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Speaker 3: the price, you guys agree on a price. You find

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Speaker 3: a manufacturer, you're going to give them thirty percent down

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Speaker 3: on the product, so that starts and initiates the manufacturing.

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Speaker 3: Once the man manufacturing's done, you pay the rest. Once

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Speaker 3: you pay the rest, they're gonna go ahead and ship

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Speaker 3: the product directly to Amazon. So they're gonna handle getting

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Speaker 3: it through customs. They're gonna find the freight forward or

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Speaker 3: everything for you. It's gonna be shipped directly overseas if

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Speaker 3: you're using a China supplier and be checked in by Amazon.

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Speaker 3: If you're using US supplier, then it's from the supplier's

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Speaker 3: warehouse directly to Amazon. Then Amazon checks it in and

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Speaker 3: you go back to that other process, right, They pick it, packet,

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Speaker 3: ship it, handle returns.

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Speaker 2: So when you're in Google Trends, from what I read,

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Speaker 2: you want to find products that have high demand and

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Speaker 2: low competition. Is there a certain statistic or a metric

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Speaker 2: that you use when you're trying to find that.

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Speaker 3: Yeah, so we use Google Trends for seasonality and to

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Speaker 3: see if it's a trending product.

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Speaker 4: Can you explain what Google Trends are.

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Speaker 3: Yeah, So Google Trends is a website owned by Google.

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Speaker 3: It's a free tool owned by Google, and it's a

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Speaker 3: way to measure analytics on products. So if you go

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Speaker 3: to Google Trends, it's products, celebrities, countries. You can go

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Speaker 3: and type into anything and it's going to show you

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Speaker 3: like historical charts and analytics on that thing. If you

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Speaker 3: go to a movie, to'll show you when the movie

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Speaker 3: was created, how long the movie's been out, how many sales.

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Speaker 3: If you go and put a product in it, it'll

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Speaker 3: tell you the first time the product showed up, how

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Speaker 3: long it's been around, how many people on Google are

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Speaker 3: going to type for this product. And the reason why

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Speaker 3: we use Google Trends is because Amazon is the search

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Speaker 3: engine just like Google, and Google's the largest search engine.

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Speaker 3: So even though it's not Amazon direct metrics, it's very

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Speaker 3: similar and very close because Google is a huge search engine.

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Speaker 3: So we go and we find that data from Google Trends,

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Speaker 3: and that's how we find out, Hey, this product selling

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Speaker 3: you know, twelve months out the year. This product has

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Speaker 3: depth of market, meaning it didn't just spike like the

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Speaker 3: fidget spinner. Like if you go and type this product,

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Speaker 3: and you're going to see for the last ten years,

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Speaker 3: it's been selling every single day, it's been selling every

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Speaker 3: single month. So we want to see a nice horizontal chart.

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Speaker 3: When we look for products that have high demand low competition.

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Speaker 3: There's no exact metric that's going to say like, hey,

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Speaker 3: this product has high demand low competition. What we want

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Speaker 3: to look for is we want to go direct to

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Speaker 3: Amazon and type in the name of the product, and

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Speaker 3: when we're looking at all the different sellers, we want

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Speaker 3: to see how many of those sellers have under one

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Speaker 3: hundred reviews, have under two hundred reviews that are still

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Speaker 3: selling you know, ten plus units a day. If you're

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Speaker 3: selling ten plus units a day, that's three hundred units

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Speaker 3: a month. So that's like the bare minimum metric I

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Speaker 3: look for. So that would equal low competition, and that's

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Speaker 3: how we identify if it has high demand low competition. Right.

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Speaker 3: Another way is there's something called BSRO, which stands for

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Speaker 3: best seller Ranking. If you're on an Amazon listing and

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Speaker 3: you scroll down, you'll actually see category and then subcategory.

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Speaker 3: So category may be home products, subcategory may be lent roller, right,

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Speaker 3: and then it'll have a number next to it that's

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Speaker 3: the BSR Bestseller ranking. So that's based out of a

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Speaker 3: million out of let's just say there's a million sellers.

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Speaker 3: It's based out of all million sellers. So we look

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Speaker 3: at that listing and it's number ten. That's one of

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Speaker 3: the top selling products. So we'll look at that competitor.

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Speaker 3: We'll look at what they're selling, how many units they're selling,

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Speaker 3: to make, you know, to make a statement as to

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Speaker 3: does this product have high demand low competition.

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Speaker 4: So that's interesting. I just learned something. So I was

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Speaker 4: wondering what actually that meant to be a private label,

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Speaker 4: But that's really interesting. So the private label is you

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Speaker 4: pick a nondescript item like a lint roller, which nobody

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Speaker 4: really knows who makes lint rollers, right, So now you

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Speaker 4: put your private label on that, which is x Y

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Speaker 4: and Z lint rolling company. So you get the lint

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Speaker 4: rollers from China, some warehouse in China, and now you

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Speaker 4: actually branded with your company, your logo whatever, x Y

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Speaker 4: and Z lint rollers. You put it on Amazon and

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Speaker 4: then they buy it from Amazon, so you never actually

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Speaker 4: get receipt of the product. It goes to Amazon's website

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Speaker 4: directly from the warehouse.

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Speaker 3: We never touched it. It could be US, it could

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Speaker 3: be China where wherever, we never touch it.

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Speaker 4: And then when somebody goes to Amazon and types in

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Speaker 4: lint roller, your product shows up on the first page.

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Speaker 4: If you can make it to the first page, we'll

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Speaker 4: talk about that, and nobody ever cares, like what the

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Speaker 4: company is that makes the lint roller. They usually just

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Speaker 4: go for like the lowest priced item, I think, or

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Speaker 4: product you know the best reviews or who has the

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Speaker 4: most star rating or whatever. And it's a variety of

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Speaker 4: different products like that, like lint rollers, those things that

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Speaker 4: you like stuff into your shoe to like form your shoe,

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Speaker 4: nail clippers, like, there's all kinds of stuff that's just

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Speaker 4: really nondescript. A couple of weeks ago, even toilet paper,

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Speaker 4: when nobody could buy toilet paper. People's going on Amazon

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Speaker 4: and buy toilet paper. You're not really tripping off of

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Speaker 4: like it gotta be Sherman. It's like at this point,

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Speaker 4: you just get whatever you can get. So now that

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Speaker 4: I'm thinking about it, the more and more I think

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Speaker 4: about it, I just think of different nondescript products that

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Speaker 4: doesn't really matter what the name of it is, because

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Speaker 4: nobody ever even knows the name of these products. It's interesting.

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Speaker 4: I never thought about that before, So this is crazy.

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Speaker 4: So how much money and you actually make in this business?

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Speaker 4: Because now I'm actually interested, this is extremely interesting. How

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Speaker 4: much money can you make on average? I know it

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Speaker 4: probably varies, but on average, how much money can you make?

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Speaker 4: I'm interested?

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Speaker 3: Yeah, So what we recommend. What we recommend is nothing

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Speaker 3: less than thirty percent net profit margins. So net is

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Speaker 3: going to be after everything's set and done, gross would

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Speaker 3: be like the total number net is that keep that

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Speaker 3: number that you get to keep. So we like to

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Speaker 3: shoot for thirty as the minimum. Typically it's gonna be

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Speaker 3: around forty to fifty percent, but it depends on the product,

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Speaker 3: depends on the time of the year. Towards the end

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Speaker 3: of the year, you know, price is going to be

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Speaker 3: a little bit higher, on logistics, on fulfillment fees, just everything.

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Speaker 3: But typically we like to see between thirty and fifty

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Speaker 3: percent profit margin. This is after we buy our product,

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Speaker 3: after which is the cog or cost of goods, after

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Speaker 3: we ship our product, which is logistics, after Amazon stores

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Speaker 3: our product, because we're paying fees. After we sell a product,

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Speaker 3: they pick it, they use everything. After everything's set and done,

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Speaker 3: we want to make thirty to fifty percent profit. So

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Speaker 3: if we're selling a product for twenty bucks, we want

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Speaker 3: to keep six dollars. And if you could be around

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Speaker 3: thirty three percent, which is right around that bare minimum number,

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Speaker 3: every three units you sell, you're doubling your money. So

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Speaker 3: that's how you can really, you know, start to grow

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Speaker 3: and scale.

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Speaker 2: Yeah, this is so crazy because for so long we've

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Speaker 2: been taught like, having generic things is not the thing

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Speaker 2: to do, right, and this is a prime example of yes,

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Speaker 2: this could be a big business of having generic items.

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Speaker 2: But my question is what's Amazon's cut? Like, I know

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Speaker 2: they take a percentage, what's that cut in this deal?

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Speaker 3: Yeah, so it fluctuates. They're constantly changing like how much

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Speaker 3: they're charging in a reference to the referral fee, but

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Speaker 3: it's typically right around fifteen to twenty percent of the

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Speaker 3: product costs. So if you're selling the product for twenty bucks,

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Speaker 3: they're going to take you know, they're going to take

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Speaker 3: four bucks. But that's everything storing the product, shipping the product,

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Speaker 3: facilitating the product. That's the referral fee and everything. And

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Speaker 3: like I said, on top of their fee and the

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Speaker 3: product costs and the shipping and the advertising, and everything else.

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Speaker 3: We still want to make that thirty to fifty percent

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Speaker 3: profit margin because we're going directly to the manufacturer. We're

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Speaker 3: not going to a middleman. We're not going to someone

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Speaker 3: who's wholesaling these products. We're not going and buying products

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Speaker 3: at a discounted rate. We're going directly to the place

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Speaker 3: where they manufacture it, where the large brands go. We're

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Speaker 3: going where Nike goes, We're going where beats By dra goes.

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Speaker 3: We're going while all the top guys go, and we're

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Speaker 3: getting it manufactured. So that's how we make our money,

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Speaker 3: and that's how we get our margin where it needs

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Speaker 3: to be.

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Speaker 4: That's interesting because I always kind of knew that the

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Speaker 4: money was in the non descript items because if you

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Speaker 4: think about it, like, let's take something like a refrigerator.

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Speaker 4: The average person might buy three, maybe four refrigerators, like

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Speaker 4: in their entire life, like life time, they might buy

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Speaker 4: four refrigerators in the entire life. Maybe not even that much.

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Speaker 4: But you pick something like a lint roller or you know,

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Speaker 4: Q tips things like that.

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Speaker 5: That's reoccurrent.

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Speaker 4: Yeah, it's reocurrent thing. You might buy one hundred lint

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Speaker 4: rollers gave you ho.

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Speaker 3: It's a secret sauce. This is the secret sauce right here.

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Speaker 3: The reason why a perfect product. Let me just break

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Speaker 3: this down. So I like products that are lightweight. So

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Speaker 3: there's two different products. There's lightweight products, there's oversized products.

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Speaker 3: So lightweight products would be something like this. Oversize would

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Speaker 3: be the chair I'm sitting in. So lightweight products are

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Speaker 3: cheaper to manufacture, cheaper to ship, ship, cheaper to facilitate

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Speaker 3: number one. Number two. The reason why this is a

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Speaker 3: beautiful product is because this is a usable product. So

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Speaker 3: I like consumable products, usable products in giftable products because

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Speaker 3: people continuously use them. So if I buy, like, let's

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Speaker 3: just say this desk that my computer's setting on, I

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Speaker 3: only need that once and that's it said and done.

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Speaker 3: This lent roller, once you run out of the tape,

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Speaker 3: you might buy the lent roller set, but once you

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Speaker 3: run out of the tape, you need the tape again.

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Speaker 3: Or if we have a giftable product that can be

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Speaker 3: gifted for a man or a woman, guess what. There's birthday's,

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Speaker 3: father's day, Mother's Day, Valentine's Day, graduation. They're constantly being given.

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Speaker 3: Another example is supplement and supplements are very small very cheap,

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Speaker 3: to make, very small, very cheap, to ship, very cheap,

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Speaker 3: to fulfill, and guess what, at the end of the

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Speaker 3: thirty days, you need it again. So you can actually

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Speaker 3: have a subscribe and save, meaning it's a continuity package.

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Speaker 3: People order it and they get it every single month.

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Speaker 3: So some of the products I look like, I'm in

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Speaker 3: the beauty really big and I'm in office in the

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Speaker 3: office products very big because these are products that you

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Speaker 3: constantly use that you need to re order. So I'm

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Speaker 3: constantly thinking, like, we don't want a one night stand

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Speaker 3: with our customers. We want the marriage. And so many

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Speaker 3: people focus on that one night stand, like how can

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Speaker 3: I make the most amount of money on the first touch,

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Speaker 3: or what's the product that people were gonna buy a

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Speaker 3: lot of on that first touch. I'm thinking down the road,

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Speaker 3: what's a product that you know, I may not crush

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Speaker 3: it on the first touch, but they're gonna be locked

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Speaker 3: in and we're gonna have a marriage. They're gonna need

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Speaker 3: it every single month for the next year, the next

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Speaker 3: two years, next three years. And that's something like amateurs

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Speaker 3: they monetize the front, and experts in this business they

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Speaker 3: monetize the back. They don't focus on the one night stand.

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Speaker 3: It's that marriage dare you have it?

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Speaker 4: Ladies and gentlemen, whole lot of game. So we gave

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Speaker 4: you the one on one. So in the next segment,

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Speaker 4: we're gonna go over some steps to get you up

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Speaker 4: and running so you can get started, all right. Yeah,

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Speaker 4: so in this segment we're going to actually go over

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Speaker 4: the steps actionable items. But you know, I was just

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Speaker 4: thinking about it, and that just really makes a lot

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Speaker 4: of sense. And sometimes the simplest things is just mind

414
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Speaker 4: blowing and it's like I never really thought about it,

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Speaker 4: but it's like makes complete sense. Like nobody ever who

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Speaker 4: looks at the brand name of a linp roller as

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Speaker 4: it works?

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Speaker 3: Man, Yeah, it's what all the big guys are doing.

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Speaker 3: Beats by all. This is is a private label product.

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Speaker 3: This is made in China. These are made for sixteen

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Speaker 3: dollars and he's selling them for two hundred dollars. Why

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Speaker 3: because of the brand name. So the whole goal, like

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Speaker 3: I said, like Kleenex, Like everybody, like, yo, hand me

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Speaker 3: a Kleenex. That's not the name of the product, that's

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Speaker 3: the name of the brand. You see what I'm saying,

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Speaker 3: Like the Q tip is not the name of the product,

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Speaker 3: it's the name of the brand. So you want to

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Speaker 3: become a category king, like Apple's a category king, beats

429
00:19:59,280 --> 00:20:03,760
Speaker 3: by Dres category king, right, So that's that's basically all

430
00:20:03,760 --> 00:20:05,360
Speaker 3: they're doing. Like if you look on if you look

431
00:20:05,400 --> 00:20:07,359
Speaker 3: on the bottom of an Apple product, it says made

432
00:20:07,400 --> 00:20:09,520
Speaker 3: in China. You look on the back of these made

433
00:20:09,520 --> 00:20:12,480
Speaker 3: in China. So they're basically finding products that people need.

434
00:20:12,680 --> 00:20:15,000
Speaker 3: Everybody needs to listen to music, everybody needs to clean

435
00:20:15,000 --> 00:20:18,080
Speaker 3: their ears, and they're slapping their brand on it. Right now,

436
00:20:17,760 --> 00:20:20,080
Speaker 3: Now that not everybody has a huge brand like Dre,

437
00:20:20,760 --> 00:20:24,480
Speaker 3: but if you create a good product, good customer service,

438
00:20:24,760 --> 00:20:28,000
Speaker 3: you can become a category king because you know, Beyonce

439
00:20:28,200 --> 00:20:30,440
Speaker 3: is not going to go drop some Q tips, right,

440
00:20:30,480 --> 00:20:33,760
Speaker 3: Like I sell a lot of office office products. I'm

441
00:20:33,880 --> 00:20:37,240
Speaker 3: crushing it because there's no huge brand that's taking it on.

442
00:20:37,359 --> 00:20:39,359
Speaker 3: Like you're not gonna see jay Z, you know, shooting

443
00:20:39,400 --> 00:20:41,879
Speaker 3: or Kanye doing a line of binder clips, you know

444
00:20:41,920 --> 00:20:44,280
Speaker 3: what I mean, or three ring binders. So if you

445
00:20:44,320 --> 00:20:46,040
Speaker 3: go in there and then you serve these people and

446
00:20:46,080 --> 00:20:48,560
Speaker 3: you're making sure that you're reading the reviews of the competitors,

447
00:20:48,560 --> 00:20:50,760
Speaker 3: and you're making it a better product, you're making it

448
00:20:50,760 --> 00:20:53,159
Speaker 3: a more affordable product, and you're doing all these things.

449
00:20:53,400 --> 00:20:55,520
Speaker 3: Now you become the category king and people are like,

450
00:20:55,560 --> 00:20:57,959
Speaker 3: I want such and such, which is your brand? So

451
00:20:58,000 --> 00:20:59,960
Speaker 3: that's what we do, and it's like it's the most

452
00:21:00,080 --> 00:21:02,800
Speaker 3: sustainable business model. Like people ask me all the time, like, yo,

453
00:21:03,160 --> 00:21:05,879
Speaker 3: is Amazon dead? Like so many people are starting to

454
00:21:05,920 --> 00:21:08,560
Speaker 3: sell on Amazon? Is Amazon dead? As it's saturated? Can

455
00:21:08,600 --> 00:21:11,600
Speaker 3: you still sell? I'm like, let's forget about Amazon, which

456
00:21:11,640 --> 00:21:13,760
Speaker 3: is the largest company in the world. The founder is

457
00:21:13,800 --> 00:21:16,480
Speaker 3: the richest man alive. Let's set all that aside. What

458
00:21:16,680 --> 00:21:19,080
Speaker 3: is selling on Amazon? What is private label products?

459
00:21:19,080 --> 00:21:19,520
Speaker 5: What is this?

460
00:21:20,000 --> 00:21:23,480
Speaker 3: Right? There's a demand. You need to hear your music,

461
00:21:23,600 --> 00:21:26,159
Speaker 3: so there's a demand for headphones. I have the supply,

462
00:21:26,400 --> 00:21:28,879
Speaker 3: supply and demand. If you go back to the Renaissance

463
00:21:28,920 --> 00:21:31,679
Speaker 3: period when there was castles and horses and sword fighting,

464
00:21:32,160 --> 00:21:34,919
Speaker 3: knights needed swords, so they went to a blacksmith. The

465
00:21:34,920 --> 00:21:38,280
Speaker 3: blacksmith made the sword. They had the demand, there was

466
00:21:38,320 --> 00:21:42,080
Speaker 3: a supply, and they exchanged rather be coins or they bothered.

467
00:21:42,280 --> 00:21:44,600
Speaker 3: So it was just a direct exchange of supply and demand.

468
00:21:44,640 --> 00:21:48,840
Speaker 3: So now times have changed and now we have computers, smartphones, tablets,

469
00:21:48,840 --> 00:21:51,159
Speaker 3: and when we need something, we go to the market,

470
00:21:51,200 --> 00:21:55,560
Speaker 3: which is Amazon. Amazon facilitates everything. They have everything, any

471
00:21:55,600 --> 00:21:59,240
Speaker 3: and every product you can think of, basically accept cars,

472
00:21:59,520 --> 00:22:01,960
Speaker 3: which soon they're working on that, and we just go

473
00:22:02,000 --> 00:22:04,000
Speaker 3: buy what we want and boom, it's to our house

474
00:22:04,040 --> 00:22:06,240
Speaker 3: two days later. So when people ask me like, is

475
00:22:06,280 --> 00:22:08,480
Speaker 3: it dead, I'm like, no, it's not dead. This supplying

476
00:22:08,520 --> 00:22:12,440
Speaker 3: demand has always existed. There's always been a need for items,

477
00:22:12,440 --> 00:22:15,520
Speaker 3: and this is just the most relevant, most up to date,

478
00:22:15,640 --> 00:22:18,879
Speaker 3: most user friendly, and effective way to purchase products. Like

479
00:22:18,960 --> 00:22:21,320
Speaker 3: even during a pandemic, if you need something and you

480
00:22:21,359 --> 00:22:22,879
Speaker 3: don't want to go to the store, you can't go

481
00:22:22,960 --> 00:22:26,159
Speaker 3: to the store, you go online. Less than five minutes

482
00:22:26,240 --> 00:22:28,240
Speaker 3: is bought, and then less than two days is to

483
00:22:28,320 --> 00:22:29,000
Speaker 3: your doorstep.

484
00:22:29,200 --> 00:22:32,399
Speaker 4: You just said that was crazy. That's actually extremely, extremely important.

485
00:22:32,440 --> 00:22:36,119
Speaker 4: That's a gym where it's like everybody, not everybody, but

486
00:22:36,400 --> 00:22:39,280
Speaker 4: a lot of people are private label companies, and it's

487
00:22:39,320 --> 00:22:41,879
Speaker 4: like you use the example of Beats by Dre so

488
00:22:42,400 --> 00:22:44,480
Speaker 4: it's like, yeah, if you don't really necessarily have your

489
00:22:44,520 --> 00:22:49,640
Speaker 4: warehouse where you're actually making products yourself, which almost nobody

490
00:22:49,680 --> 00:22:53,480
Speaker 4: really does, you're getting it made somewhere else. And then

491
00:22:53,600 --> 00:22:56,560
Speaker 4: getting it shipped and then putting your logo on it.

492
00:22:57,760 --> 00:23:01,119
Speaker 4: Essentially you're a private label company, right, And it's like

493
00:23:01,400 --> 00:23:03,399
Speaker 4: the only difference is that like a beats By, Dre

494
00:23:03,600 --> 00:23:06,920
Speaker 4: has celebrities that endorse the product, and they have doctor

495
00:23:06,960 --> 00:23:09,080
Speaker 4: Dre's name on it, and you know, all of these

496
00:23:09,080 --> 00:23:12,440
Speaker 4: different things. It's a billion dollar company now, but in

497
00:23:12,480 --> 00:23:16,719
Speaker 4: the essence, the core business model, especially at the beginning stages,

498
00:23:16,720 --> 00:23:19,560
Speaker 4: I'm sure, is kind of just the same thing. So

499
00:23:20,359 --> 00:23:22,760
Speaker 4: that's that's really crazy, and that's interesting if you really

500
00:23:22,760 --> 00:23:26,399
Speaker 4: think about it. Everybody's a private label absolutely.

501
00:23:25,840 --> 00:23:29,400
Speaker 3: So peep game. There's three different ways. We talked about arbitrage,

502
00:23:29,680 --> 00:23:31,960
Speaker 3: where you go to best Buy and you get something

503
00:23:32,000 --> 00:23:33,520
Speaker 3: at a discount and then you sell it for the

504
00:23:33,600 --> 00:23:36,639
Speaker 3: MSRP and keep the difference, right, that's arbitrage. You have

505
00:23:36,760 --> 00:23:41,320
Speaker 3: wholesale where I go and find companies and I have

506
00:23:41,480 --> 00:23:43,919
Speaker 3: them sell me the product at a discounted rate at

507
00:23:43,920 --> 00:23:46,959
Speaker 3: a wholesale price, and I become a distributor and I

508
00:23:47,000 --> 00:23:49,960
Speaker 3: sell it at an MAP, which is minimum advertised price.

509
00:23:50,440 --> 00:23:52,800
Speaker 3: So that's strategy number two. And then there's strategy number three.

510
00:23:52,840 --> 00:23:54,800
Speaker 3: People call it private labeling, which is what I just

511
00:23:54,880 --> 00:23:58,080
Speaker 3: explained right. But if you think about it, the distributor,

512
00:23:58,160 --> 00:24:00,399
Speaker 3: the wholesaler who's whole selling you the prout so you

513
00:24:00,440 --> 00:24:03,320
Speaker 3: can become a distributor, has a private labeled product that

514
00:24:03,400 --> 00:24:06,200
Speaker 3: you're becoming a distributor of. And if we are vitrage

515
00:24:06,240 --> 00:24:09,520
Speaker 3: products where we go buy private label products of large

516
00:24:09,560 --> 00:24:11,840
Speaker 3: brands at a discounted price and resell it at that

517
00:24:12,000 --> 00:24:15,000
Speaker 3: MSRP and keep the difference, what are we doing. It's

518
00:24:15,000 --> 00:24:17,080
Speaker 3: just a different form of private labeling. So what we're

519
00:24:17,080 --> 00:24:19,760
Speaker 3: doing is we're cutting out the middleman. We're not going

520
00:24:19,760 --> 00:24:22,600
Speaker 3: to a wholesaler and becoming a distributor. We're not hoping

521
00:24:22,640 --> 00:24:24,960
Speaker 3: that we find products at a discounted price and sell

522
00:24:25,000 --> 00:24:28,000
Speaker 3: it for that MSRP. We're just finding the products that

523
00:24:28,040 --> 00:24:30,760
Speaker 3: the big guys need or big guys are selling. We're

524
00:24:30,760 --> 00:24:34,280
Speaker 3: making our own sending it direct to consumer, and we're

525
00:24:34,320 --> 00:24:37,240
Speaker 3: making all the profits. Like so many people say, like

526
00:24:37,480 --> 00:24:39,520
Speaker 3: I don't want to get started with headphones because beats

527
00:24:39,520 --> 00:24:41,840
Speaker 3: by Dre are the best. Beats by Dre are not

528
00:24:41,880 --> 00:24:44,000
Speaker 3: the best or the well known, they're the most well known.

529
00:24:44,040 --> 00:24:46,560
Speaker 3: You can go directly to the same factory and make

530
00:24:46,600 --> 00:24:51,040
Speaker 3: the same headset more affordable and actually improve it and

531
00:24:51,160 --> 00:24:54,640
Speaker 3: still get sells, and still get sells. Like I'm competing

532
00:24:54,680 --> 00:24:57,320
Speaker 3: with Amazon, I'm competing with some of the largest companies

533
00:24:57,359 --> 00:24:59,720
Speaker 3: in the world, and people have this misconception I can't

534
00:24:59,720 --> 00:25:04,000
Speaker 3: compet with them. Why not? Adidas competes with Nike, same stuff,

535
00:25:04,119 --> 00:25:06,919
Speaker 3: same supplier, made in the same country, made out of

536
00:25:06,920 --> 00:25:09,840
Speaker 3: the same fabric, different brands, different uses. So what I

537
00:25:09,880 --> 00:25:13,280
Speaker 3: do is I literally look at these products. What is

538
00:25:13,320 --> 00:25:15,320
Speaker 3: the pros, what is the cons what people love? I

539
00:25:15,320 --> 00:25:19,000
Speaker 3: don't change what people hate. I implement immediately. And because

540
00:25:19,040 --> 00:25:21,240
Speaker 3: I'm such a small company and I'm so hands on

541
00:25:21,400 --> 00:25:24,159
Speaker 3: as a private label seller, we can dive deep and

542
00:25:24,200 --> 00:25:26,800
Speaker 3: become obsessed with making this product the best that it

543
00:25:26,880 --> 00:25:28,960
Speaker 3: can be. You know, once you have a product that's

544
00:25:29,000 --> 00:25:32,320
Speaker 3: crushing it. Even though they have huge budgets, huge teams,

545
00:25:32,560 --> 00:25:35,080
Speaker 3: they're on research and development for more products, they're not

546
00:25:35,080 --> 00:25:37,800
Speaker 3: worried about making this the best of the best. So

547
00:25:37,920 --> 00:25:40,080
Speaker 3: like when your hands on and you become obsessed, it's

548
00:25:40,080 --> 00:25:42,120
Speaker 3: all your money. You can literally dive in and make

549
00:25:42,160 --> 00:25:44,160
Speaker 3: this thing, you know, make this thing great.

550
00:25:44,400 --> 00:25:47,720
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Speaker 3: Like if you look at Peter tiel A, co founder

603
00:28:38,880 --> 00:28:41,880
Speaker 3: of PayPal, right with Elon Musk, and they asked him, like,

604
00:28:41,920 --> 00:28:45,960
Speaker 3: how did you revolutionize the payment processor industry? And he said,

605
00:28:46,040 --> 00:28:49,800
Speaker 3: dominate the sector, control the space. So instead of going wide,

606
00:28:49,800 --> 00:28:52,280
Speaker 3: I'm going small. I'm going narrow. I'm focusing on that

607
00:28:52,320 --> 00:28:55,240
Speaker 3: one thing. Instead of hundreds of SKUs, I have only

608
00:28:55,280 --> 00:28:58,240
Speaker 3: a dozen skews, but those dozen SKUs are household names.

609
00:28:58,240 --> 00:29:01,080
Speaker 3: I'm trying to dominate the sector and control the space,

610
00:29:01,160 --> 00:29:05,040
Speaker 3: like I explained, like tissue paper with Kleenex or Q

611
00:29:05,240 --> 00:29:08,640
Speaker 3: tips with cotton swabs, they dominate that sector. And then

612
00:29:08,720 --> 00:29:11,080
Speaker 3: zig Zigler, one of the best marketers alive. He said,

613
00:29:11,080 --> 00:29:13,640
Speaker 3: when the market zigs, use zag So I'm doing the

614
00:29:13,680 --> 00:29:16,960
Speaker 3: complete opposite. People are racing down to the bottom trying

615
00:29:16,960 --> 00:29:19,960
Speaker 3: to be competitive with their pricing. My pricing is higher

616
00:29:20,000 --> 00:29:23,240
Speaker 3: and I'm selling more and making more money. Why well,

617
00:29:23,240 --> 00:29:26,160
Speaker 3: why is Apple one of the most commonly purchased consumer

618
00:29:26,160 --> 00:29:30,040
Speaker 3: electronics products and it's sixty to eighty percent higher than HP,

619
00:29:30,320 --> 00:29:33,360
Speaker 3: Dell and all the other competitors. Why Because the consumer

620
00:29:33,720 --> 00:29:36,560
Speaker 3: product experience is that much better. The quality and the

621
00:29:36,600 --> 00:29:39,400
Speaker 3: product is that much better, The customer buying experience is

622
00:29:39,440 --> 00:29:41,680
Speaker 3: that much better, the customer support is that much better,

623
00:29:41,720 --> 00:29:44,240
Speaker 3: the packaging is that much better. So I always tell

624
00:29:44,440 --> 00:29:46,920
Speaker 3: my students and people who I'm helping, when you're thinking

625
00:29:46,960 --> 00:29:49,880
Speaker 3: about products, when you're thinking about product packaging, when you're

626
00:29:49,880 --> 00:29:53,800
Speaker 3: thinking about customer experience, what would Apple do? You know?

627
00:29:53,920 --> 00:29:56,760
Speaker 3: Like the WWJD, what would Jesus do? What would Apple do?

628
00:29:57,080 --> 00:29:59,840
Speaker 3: And if you follow their entire model, you can't.

629
00:29:59,680 --> 00:30:02,960
Speaker 2: Lose that albatroge process And correct me if I'm wrong,

630
00:30:03,000 --> 00:30:05,520
Speaker 2: But it reminds me of the kid who goes to Walmart,

631
00:30:05,640 --> 00:30:08,600
Speaker 2: buys water, right, goes outside and sells it at a

632
00:30:08,600 --> 00:30:11,120
Speaker 2: discount of price and keeps the profit from what he.

633
00:30:11,440 --> 00:30:13,040
Speaker 5: Originally bought it. Right, Am I getting that correct?

634
00:30:13,120 --> 00:30:15,360
Speaker 3: Pat? You're basically a middle man. You go into the plug,

635
00:30:15,400 --> 00:30:17,600
Speaker 3: you get in at a discount because you're buying bulk,

636
00:30:18,240 --> 00:30:19,880
Speaker 3: and then you're trying to sell it's the same. So

637
00:30:20,080 --> 00:30:23,000
Speaker 3: arbitrage and wholesale is the same exact thing. The only

638
00:30:23,000 --> 00:30:27,120
Speaker 3: difference between wholesale and arbitrage is arbitrage. You're buying, like,

639
00:30:27,160 --> 00:30:29,280
Speaker 3: I'm gonna go, let's just say Black Friday beats by

640
00:30:29,360 --> 00:30:31,840
Speaker 3: Dreas fifty percent off. I'm just throwing something out there.

641
00:30:31,920 --> 00:30:33,920
Speaker 3: I'm gonna go buy ten of these, wait till Black

642
00:30:33,920 --> 00:30:37,240
Speaker 3: Friday's done, and sell them at MSRP, which is manufacturer

643
00:30:37,280 --> 00:30:41,080
Speaker 3: suggested retail pricing, and I'm gonna keep the difference. Wholesale

644
00:30:41,160 --> 00:30:43,480
Speaker 3: is where I go to a private label company, like

645
00:30:43,560 --> 00:30:45,719
Speaker 3: let's say that I got this brand and I'm crushing it,

646
00:30:45,920 --> 00:30:48,240
Speaker 3: and you wholesale and you want to add to your catalog.

647
00:30:48,320 --> 00:30:50,240
Speaker 3: You come to me like, yo, I want to buy

648
00:30:50,280 --> 00:30:52,440
Speaker 3: ten thousand of them units and be able to sell

649
00:30:52,440 --> 00:30:54,880
Speaker 3: it under your brand. You're not creating your own brand.

650
00:30:55,120 --> 00:30:58,200
Speaker 3: You're just asking for a licensee agreement. So now you

651
00:30:58,240 --> 00:31:00,560
Speaker 3: have the rights to resell my product. And I'm giving

652
00:31:00,560 --> 00:31:02,520
Speaker 3: you a little bit of love. And that cushion in

653
00:31:02,560 --> 00:31:04,320
Speaker 3: the middle is what you make. So now you're the

654
00:31:04,360 --> 00:31:07,360
Speaker 3: middle man. Private label, you're the plug. You're going right,

655
00:31:07,520 --> 00:31:09,920
Speaker 3: just like Frank Lucas did you going right to the jungle.

656
00:31:10,160 --> 00:31:13,200
Speaker 3: You're getting the stuff there, You're stamping it with your logo,

657
00:31:13,240 --> 00:31:14,920
Speaker 3: and you sitting there right the Amazon you.

658
00:31:15,280 --> 00:31:18,400
Speaker 4: Blue Magic the stamp eyl is our stamp. That's the

659
00:31:18,440 --> 00:31:21,400
Speaker 4: best product on the block for sure. So let me

660
00:31:21,400 --> 00:31:23,920
Speaker 4: ask you this, because you know, my whole thing has

661
00:31:23,920 --> 00:31:26,280
Speaker 4: always been one hundred thousand. Like, if I'm looking at

662
00:31:26,320 --> 00:31:27,960
Speaker 4: a business, or if I'm interested in the business, I

663
00:31:27,960 --> 00:31:30,360
Speaker 4: want to know does it have the ability to make

664
00:31:30,360 --> 00:31:32,320
Speaker 4: one hundred thousand dollars a month? Not to say it's

665
00:31:32,320 --> 00:31:34,080
Speaker 4: gonna make a hundred thousand dollars a month like as

666
00:31:34,120 --> 00:31:35,840
Speaker 4: soon as you get in, but I just want to

667
00:31:35,880 --> 00:31:38,840
Speaker 4: know that I could potentially make one hundred thousand dollars

668
00:31:38,880 --> 00:31:40,560
Speaker 4: a month. If not, feel like I'm wasting my time.

669
00:31:40,600 --> 00:31:42,520
Speaker 4: It's just my own personal take on it. So that's

670
00:31:42,520 --> 00:31:46,560
Speaker 4: how I gauge anything. It's like, is it able for

671
00:31:46,640 --> 00:31:48,160
Speaker 4: me to make a one hundred thousand dollars a month

672
00:31:48,160 --> 00:31:52,680
Speaker 4: in it? So being a seller on Amazon one hundred

673
00:31:52,720 --> 00:31:56,120
Speaker 4: thousand dollars a month, it is that reachable? And if so, like,

674
00:31:56,360 --> 00:31:58,480
Speaker 4: what does it take to make one hundred thousand dollars

675
00:31:58,520 --> 00:31:59,960
Speaker 4: a month selling products on it?

676
00:32:00,000 --> 00:32:02,880
Speaker 3: Amazon? Absolutely man like. Success is math. So you just

677
00:32:02,880 --> 00:32:04,520
Speaker 3: got to break it down, Like, if you want to

678
00:32:04,520 --> 00:32:07,000
Speaker 3: make one hundred thousand a month, how many products do

679
00:32:07,000 --> 00:32:07,520
Speaker 3: you got to make?

680
00:32:07,640 --> 00:32:07,800
Speaker 4: Right?

681
00:32:07,840 --> 00:32:11,240
Speaker 3: So, thirty units a day at ten dollars profit is

682
00:32:11,280 --> 00:32:13,680
Speaker 3: how much three hundred dollars a day? Right? If you

683
00:32:13,800 --> 00:32:16,120
Speaker 3: time is that by thirty days in a month, that's

684
00:32:16,160 --> 00:32:18,720
Speaker 3: around nine thousand dollars. That's with one product. You want

685
00:32:18,720 --> 00:32:20,800
Speaker 3: to make a hundred g's profit a month, you need

686
00:32:20,880 --> 00:32:23,480
Speaker 3: nine more of those products. Or you break it down,

687
00:32:23,520 --> 00:32:25,560
Speaker 3: how many units do I have to sell per day

688
00:32:25,560 --> 00:32:27,720
Speaker 3: of one product? And when you go and do the

689
00:32:27,760 --> 00:32:30,600
Speaker 3: research inside the software, there's tons of different softwares where

690
00:32:30,600 --> 00:32:32,840
Speaker 3: you can find these products. You just go and you

691
00:32:32,960 --> 00:32:35,400
Speaker 3: input that data. It's hard to do it without showing

692
00:32:35,400 --> 00:32:36,800
Speaker 3: you guys. But if you need to sell one hundred

693
00:32:36,880 --> 00:32:38,719
Speaker 3: units a day at ten dollars profit to make one

694
00:32:38,720 --> 00:32:41,680
Speaker 3: thousand dollars a day, that's thirty thousand a month. You

695
00:32:41,720 --> 00:32:43,360
Speaker 3: go and say, hey, I want to find a product

696
00:32:43,400 --> 00:32:46,480
Speaker 3: that is selling x amount per day, X amount of

697
00:32:46,560 --> 00:32:50,280
Speaker 3: units x amount of profit, and then you just reverse engineering. Right,

698
00:32:50,320 --> 00:32:53,920
Speaker 3: success is math. You just break it down. It's that simple, all.

699
00:32:53,880 --> 00:32:55,440
Speaker 4: Right, So let me ask you this because I actually

700
00:32:55,480 --> 00:32:58,000
Speaker 4: googled it and I got a list of like some

701
00:32:58,040 --> 00:33:02,000
Speaker 4: steps that beginners can take to get up and running,

702
00:33:02,160 --> 00:33:04,480
Speaker 4: and it was a list of like seven different steps.

703
00:33:04,560 --> 00:33:07,239
Speaker 4: So they said, the first step is to create an

704
00:33:07,280 --> 00:33:11,680
Speaker 4: Amazon seller account. The second step is to pick a niche.

705
00:33:12,440 --> 00:33:15,520
Speaker 4: The third step is to research products. The fourth step

706
00:33:15,640 --> 00:33:19,480
Speaker 4: is to establish product sourcing, and then you have to

707
00:33:19,560 --> 00:33:23,000
Speaker 4: establish a brand. Then you have to create product listing,

708
00:33:23,320 --> 00:33:25,760
Speaker 4: and then you have to market your products. So those

709
00:33:25,760 --> 00:33:31,320
Speaker 4: are the seven commandments according to Google. Does that sound

710
00:33:31,320 --> 00:33:32,760
Speaker 4: about right? How do you feel about that?

711
00:33:33,000 --> 00:33:36,720
Speaker 3: So let me intervene. Step number two says pick your niche.

712
00:33:37,080 --> 00:33:39,480
Speaker 3: That's the opposite of what I teach. I always teach

713
00:33:39,520 --> 00:33:41,800
Speaker 3: my students that you want to lead by data, not

714
00:33:41,920 --> 00:33:44,960
Speaker 3: by emotion. If you're picking something, you're picking it because

715
00:33:44,960 --> 00:33:46,920
Speaker 3: you think it's going to do well, and you're not

716
00:33:47,000 --> 00:33:49,320
Speaker 3: going off of the data. So many of the mistakes

717
00:33:49,320 --> 00:33:51,800
Speaker 3: I see my members and new Amazon sellers make is

718
00:33:52,120 --> 00:33:55,680
Speaker 3: they try to lead with emotion not with data. Perfect example,

719
00:33:56,080 --> 00:33:58,440
Speaker 3: men that are into fitness, they always want to launch

720
00:33:58,480 --> 00:34:01,240
Speaker 3: the next supplement, the next workout gear, so on and

721
00:34:01,280 --> 00:34:03,520
Speaker 3: so forth. Women that are into beauty they want to

722
00:34:03,520 --> 00:34:05,600
Speaker 3: be the next Kylie Jenner, and even though they're passionate

723
00:34:05,640 --> 00:34:07,880
Speaker 3: about it and they love it, that's not the smartest,

724
00:34:07,920 --> 00:34:11,279
Speaker 3: most advantageous product to launch. So I always tell people

725
00:34:11,840 --> 00:34:14,680
Speaker 3: just start with an open slate, do the product research,

726
00:34:14,719 --> 00:34:16,880
Speaker 3: because some of the most profitable products that you're going

727
00:34:16,960 --> 00:34:19,120
Speaker 3: to make a killing off of are products like this

728
00:34:19,239 --> 00:34:20,960
Speaker 3: that you would have never in a million years thought

729
00:34:20,960 --> 00:34:24,040
Speaker 3: about launching, or you're not passionate about, but they're making

730
00:34:24,120 --> 00:34:27,360
Speaker 3: all the money. So I always tell people lead by data,

731
00:34:27,440 --> 00:34:29,399
Speaker 3: not by emotion. So, yeah, you want to get create

732
00:34:29,440 --> 00:34:31,719
Speaker 3: your Amazon Seller account. You want to start with an

733
00:34:31,719 --> 00:34:35,160
Speaker 3: individual account. It's absolutely free. We don't change that by

734
00:34:35,160 --> 00:34:37,560
Speaker 3: clicking a button to professional account until we have our

735
00:34:37,600 --> 00:34:40,600
Speaker 3: products actually being checked in because if you have a

736
00:34:40,600 --> 00:34:43,440
Speaker 3: professional account, it's thirty nine ninety nine a month. We

737
00:34:43,440 --> 00:34:45,680
Speaker 3: don't want to pay that money until we have products live.

738
00:34:46,440 --> 00:34:49,160
Speaker 3: Number two is we want to get right into product research.

739
00:34:49,200 --> 00:34:52,360
Speaker 3: It's the most important aspect of the entire business. We

740
00:34:52,360 --> 00:34:54,439
Speaker 3: want to find these products that are going to sell

741
00:34:54,480 --> 00:34:56,840
Speaker 3: twenty four to seven three sixty five. We want to

742
00:34:56,880 --> 00:34:59,560
Speaker 3: find these products that are not seasonal products, meaning they're

743
00:34:59,560 --> 00:35:01,520
Speaker 3: going to sell twenty four to seven three sixty five

744
00:35:01,800 --> 00:35:05,280
Speaker 3: that are not trending, meaning that it has depth of market.

745
00:35:05,480 --> 00:35:09,000
Speaker 3: If there's volatility or there's no sustainable track record of sales,

746
00:35:09,360 --> 00:35:11,399
Speaker 3: that's risky. We don't want risk. We want to make

747
00:35:11,400 --> 00:35:13,040
Speaker 3: a lot of money. And again we go to Google

748
00:35:13,080 --> 00:35:16,160
Speaker 3: Trends for both of those, a free resource. Once we

749
00:35:16,200 --> 00:35:18,960
Speaker 3: identify all those things, we go to the supplier. We

750
00:35:19,040 --> 00:35:21,080
Speaker 3: find the supplier. We want to make sure that we're

751
00:35:21,120 --> 00:35:22,680
Speaker 3: going to be able to make that margin. So we're

752
00:35:22,680 --> 00:35:25,160
Speaker 3: going to use a free tool called the FBA calculator.

753
00:35:25,360 --> 00:35:28,560
Speaker 3: It's a free tool that Amazon owns fbacalculator dot com.

754
00:35:28,719 --> 00:35:30,640
Speaker 3: We're going to put in how much is the product

755
00:35:30,640 --> 00:35:32,520
Speaker 3: selling for, how much are we going to get it

756
00:35:32,520 --> 00:35:35,799
Speaker 3: from the supplier, and all the other fees associated with that,

757
00:35:36,040 --> 00:35:38,319
Speaker 3: and it's going to spit out the profit margin after

758
00:35:38,400 --> 00:35:40,759
Speaker 3: Amazon takes their piece of the pie. So if it's

759
00:35:40,800 --> 00:35:43,200
Speaker 3: below thirty percent, we need to increase the price or

760
00:35:43,239 --> 00:35:46,640
Speaker 3: decrease the purchase cost. Right, So by doing that we

761
00:35:46,640 --> 00:35:49,040
Speaker 3: can manipulate and get that profit margin to where we

762
00:35:49,080 --> 00:35:51,920
Speaker 3: want to be. The goal is thirty percent bare minimum,

763
00:35:51,960 --> 00:35:54,720
Speaker 3: thirty three percent. Every three products you sell you double

764
00:35:54,760 --> 00:35:57,360
Speaker 3: your money. So if you put ten thousand into product

765
00:35:57,520 --> 00:36:00,480
Speaker 3: and you're at thirty three percent every three per products.

766
00:36:00,680 --> 00:36:03,239
Speaker 3: You're flipping that money, right. So that's the whole goal

767
00:36:03,280 --> 00:36:04,960
Speaker 3: is to really just scale this thing. And then the

768
00:36:05,000 --> 00:36:07,680
Speaker 3: way that you scale this thing is by adding more

769
00:36:07,680 --> 00:36:10,200
Speaker 3: products to your SKU. You rinse and repeat. Once you

770
00:36:10,200 --> 00:36:13,200
Speaker 3: get the first product, it's all downhill from there, because

771
00:36:13,200 --> 00:36:16,400
Speaker 3: what I teach is the actual brand approach, not the

772
00:36:16,480 --> 00:36:19,440
Speaker 3: generic approach. So the generic approach is where you have

773
00:36:19,560 --> 00:36:22,880
Speaker 3: tons of different private label products. You might sell this

774
00:36:23,080 --> 00:36:25,600
Speaker 3: phone mount, and then you might sell a calculator, then

775
00:36:25,600 --> 00:36:28,479
Speaker 3: the lin roller, and have all these different products. That's

776
00:36:28,640 --> 00:36:32,759
Speaker 3: one strategy. The more sustainable strategy that I recommend is

777
00:36:32,760 --> 00:36:35,640
Speaker 3: the private label. So we do a catalog. So if

778
00:36:35,640 --> 00:36:39,480
Speaker 3: we launch this product and it's in a specific category,

779
00:36:39,680 --> 00:36:42,520
Speaker 3: we want to launch other relevant products to this catalog

780
00:36:42,600 --> 00:36:44,960
Speaker 3: and create our own catalog. And the reason why I

781
00:36:45,000 --> 00:36:47,440
Speaker 3: say that first product is it's downhill from there is

782
00:36:47,480 --> 00:36:49,800
Speaker 3: because we already have the plug, we already have the supplier.

783
00:36:49,920 --> 00:36:52,680
Speaker 3: So after that thing's up and rolling and it's making

784
00:36:52,760 --> 00:36:54,719
Speaker 3: us money twenty four to seven, three sixty five, we

785
00:36:54,760 --> 00:36:57,080
Speaker 3: go to the supplier and say, hey, send me your

786
00:36:57,120 --> 00:36:59,840
Speaker 3: catalog of products and what other Amazon sellers are selling,

787
00:37:00,160 --> 00:37:01,960
Speaker 3: and we go through it and we do our research

788
00:37:02,000 --> 00:37:04,719
Speaker 3: and they already shaved time off the hourglass. So then

789
00:37:04,719 --> 00:37:06,960
Speaker 3: we find another product and we just rent and repeat,

790
00:37:06,960 --> 00:37:09,440
Speaker 3: and you keep stacking products and that's how you scale

791
00:37:09,440 --> 00:37:09,759
Speaker 3: this thing.

792
00:37:09,880 --> 00:37:10,160
Speaker 5: All right.

793
00:37:10,200 --> 00:37:12,080
Speaker 2: So, once we got our product and we got our logo,

794
00:37:12,160 --> 00:37:14,560
Speaker 2: all that put together, what are some of the upfront

795
00:37:14,600 --> 00:37:16,400
Speaker 2: fees that we're going to need to get this product

796
00:37:16,440 --> 00:37:19,440
Speaker 2: really out there and be a successful company.

797
00:37:19,560 --> 00:37:23,160
Speaker 3: Now, Yeah, so the fees associated with starting the businesses

798
00:37:23,239 --> 00:37:26,080
Speaker 3: number one, The main fee is going to be your product,

799
00:37:26,160 --> 00:37:28,920
Speaker 3: right because we're not drop shipping where people buy our

800
00:37:28,960 --> 00:37:32,200
Speaker 3: product and then we pay the supplier afterwards, where actually

801
00:37:32,320 --> 00:37:34,319
Speaker 3: we own the brand, we own the product. So the

802
00:37:34,400 --> 00:37:37,319
Speaker 3: number one fee associated with the whole business is going

803
00:37:37,400 --> 00:37:40,840
Speaker 3: to be your COG or cost of goods. Now, it depends,

804
00:37:40,840 --> 00:37:42,920
Speaker 3: because your product could costs a dollar, it could cost

805
00:37:43,000 --> 00:37:45,200
Speaker 3: twelve dollars. But what I usually tell people when they're

806
00:37:45,200 --> 00:37:47,640
Speaker 3: starting out is to start with no less than one

807
00:37:47,640 --> 00:37:50,239
Speaker 3: thousand dollars. Have a thousand dollars that you can allocate

808
00:37:50,560 --> 00:37:53,879
Speaker 3: directly to your inventory. Now, some people may say, like, hey,

809
00:37:53,920 --> 00:37:56,320
Speaker 3: I was watching on YouTube and reading blogs and stuff,

810
00:37:56,520 --> 00:37:58,560
Speaker 3: and they're saying like three to ten thousand to start

811
00:37:58,600 --> 00:38:01,040
Speaker 3: your first product. How can I start with only one thousand?

812
00:38:01,440 --> 00:38:03,520
Speaker 3: What I do with the AMC formula, what I teach

813
00:38:03,560 --> 00:38:07,680
Speaker 3: people is how to micro launch products. So logically, what

814
00:38:07,719 --> 00:38:09,560
Speaker 3: you would do is find out how many units you're

815
00:38:09,560 --> 00:38:12,040
Speaker 3: going to sell per month. If you anticipate that you're

816
00:38:12,040 --> 00:38:14,640
Speaker 3: going to sell one thousand units a month and your

817
00:38:14,719 --> 00:38:17,440
Speaker 3: unit costs three dollars, that's a three thousand dollars launch

818
00:38:17,600 --> 00:38:19,560
Speaker 3: because you don't want to run out of inventory. But

819
00:38:19,719 --> 00:38:21,960
Speaker 3: what I've learned through trial and error with my own

820
00:38:22,000 --> 00:38:24,200
Speaker 3: brand and through helping you know, thousands of people around

821
00:38:24,200 --> 00:38:27,200
Speaker 3: the world, is that there's no software that's one hundred

822
00:38:27,200 --> 00:38:30,840
Speaker 3: percent accurate, and there's nothing like actual factual buyer data

823
00:38:30,880 --> 00:38:33,600
Speaker 3: directly from Amazon. So we don't put all of our

824
00:38:33,600 --> 00:38:36,320
Speaker 3: eggs in one basket and launch three thousand units or

825
00:38:36,320 --> 00:38:39,640
Speaker 3: one thousand units. We'll actually order twenty to thirty percent

826
00:38:39,680 --> 00:38:42,680
Speaker 3: of the inventory that we anticipate on selling for that month.

827
00:38:43,000 --> 00:38:45,520
Speaker 3: We'll get it to Amazon as quickly as possible because

828
00:38:45,560 --> 00:38:50,239
Speaker 3: success loves speed, and we'll test actual buying data from consumers,

829
00:38:50,480 --> 00:38:52,840
Speaker 3: and if it sees that we're getting consecutive days, like

830
00:38:52,880 --> 00:38:56,200
Speaker 3: three to five days consecutive sales of what we anticipated

831
00:38:56,239 --> 00:38:59,160
Speaker 3: on selling, then we make that back order. But if

832
00:38:59,200 --> 00:39:02,280
Speaker 3: it's not then we liquidated and move to the next product.

833
00:39:02,320 --> 00:39:04,360
Speaker 3: And this is like my proprietary system, and this is

834
00:39:04,360 --> 00:39:07,440
Speaker 3: how you profit off of failing product. So many people

835
00:39:07,440 --> 00:39:09,000
Speaker 3: put all their eggs in one basket, but if you

836
00:39:09,040 --> 00:39:11,400
Speaker 3: drop the basket, all the eggs are gone. So instead

837
00:39:11,440 --> 00:39:13,439
Speaker 3: of putting all my money in one product, will micro

838
00:39:13,520 --> 00:39:16,520
Speaker 3: launch three products at once, or will micro launch that

839
00:39:16,600 --> 00:39:18,560
Speaker 3: one product that way? If we get it to the

840
00:39:18,560 --> 00:39:21,799
Speaker 3: marketplace and it doesn't perform the way we anticipated, we

841
00:39:21,880 --> 00:39:24,799
Speaker 3: can liquidate that product, add a profit, and move to

842
00:39:24,840 --> 00:39:26,719
Speaker 3: the next one. Because you got to remember, like so

843
00:39:26,760 --> 00:39:29,200
Speaker 3: many people ask me, like, what's the worst that can

844
00:39:29,239 --> 00:39:31,880
Speaker 3: happen with their product, like a failing product or losing

845
00:39:31,880 --> 00:39:34,040
Speaker 3: Amazon product? What does it look like? How much am

846
00:39:34,080 --> 00:39:36,480
Speaker 3: I going to lose? What's the worst case scenario? And

847
00:39:36,560 --> 00:39:39,120
Speaker 3: if you do this properly and you cross your t's,

848
00:39:39,160 --> 00:39:41,480
Speaker 3: you dot your eyes, and you do that product verification

849
00:39:41,560 --> 00:39:44,719
Speaker 3: and validation that we discussed, the worst thing that's going

850
00:39:44,800 --> 00:39:47,200
Speaker 3: to happen is you're not going to sell enough units

851
00:39:47,320 --> 00:39:50,160
Speaker 3: daily to reach that ten thousand profit a month or

852
00:39:50,239 --> 00:39:53,080
Speaker 3: three thousand profit a month or whatever you're anticipated on

853
00:39:53,160 --> 00:39:56,000
Speaker 3: its selling. It may be one here or two there,

854
00:39:56,120 --> 00:39:58,640
Speaker 3: it may be inconsistent, but you have to remember you're

855
00:39:58,640 --> 00:40:01,320
Speaker 3: still at that thirty percent of fe fifty percent profit margin.

856
00:40:01,480 --> 00:40:03,840
Speaker 3: So even though it's a loser because it's not making

857
00:40:03,880 --> 00:40:06,920
Speaker 3: us what we wanted to make, it's still profiting and

858
00:40:06,960 --> 00:40:08,839
Speaker 3: we only have a specific amount. We don't have an

859
00:40:08,840 --> 00:40:11,160
Speaker 3: abundance of units that we can't get rid of or

860
00:40:11,200 --> 00:40:13,000
Speaker 3: that's going to take a long time to get rid of,

861
00:40:13,080 --> 00:40:14,759
Speaker 3: that's going to lock up our capital, So we can

862
00:40:14,840 --> 00:40:18,560
Speaker 3: liquidate it profit on the liquidation of that product, put

863
00:40:18,600 --> 00:40:21,000
Speaker 3: all the proceeds into another product, and just keep testing

864
00:40:21,080 --> 00:40:23,160
Speaker 3: until you find that one that's going to have consistency.

865
00:40:23,280 --> 00:40:26,239
Speaker 4: So you mentioned something earlier where you said, you know,

866
00:40:26,920 --> 00:40:29,720
Speaker 4: there's different software that you can use to actually find

867
00:40:29,719 --> 00:40:32,320
Speaker 4: out if a product is going to be an actual

868
00:40:32,440 --> 00:40:34,839
Speaker 4: good seller or not. So I know that's something that

869
00:40:34,960 --> 00:40:37,239
Speaker 4: you know is probably my biggest question, and I'm sure

870
00:40:37,280 --> 00:40:40,359
Speaker 4: a lot of other people's question as well. So how

871
00:40:40,400 --> 00:40:42,280
Speaker 4: do you determine if it's going to be a good product?

872
00:40:42,280 --> 00:40:46,160
Speaker 4: Like what are some of those software or websites that

873
00:40:46,200 --> 00:40:46,960
Speaker 4: you were referring to.

874
00:40:47,320 --> 00:40:50,680
Speaker 3: So there's a combination of a few things, using Amazon's

875
00:40:50,760 --> 00:40:54,120
Speaker 3: direct website, using the free resources that we talked about,

876
00:40:54,160 --> 00:40:58,360
Speaker 3: like Google Trends, free FBA calculator to determine the seasonality,

877
00:40:58,400 --> 00:41:02,360
Speaker 3: the trend the profit margin. But there's many of different softwares,

878
00:41:02,400 --> 00:41:05,240
Speaker 3: like I personally use jungle Scout. There's dozens of different

879
00:41:05,280 --> 00:41:09,000
Speaker 3: softwares that are relatively inexpensive, like between thirty to fifty buck.

880
00:41:09,200 --> 00:41:10,600
Speaker 4: Nich Hunter is that one.

881
00:41:11,360 --> 00:41:16,160
Speaker 3: Nich Hunter's one. There's tons of them, Viral Launch, Viral Launch,

882
00:41:16,200 --> 00:41:18,600
Speaker 3: Helium ten, Jungle Scouts is the one I personally use.

883
00:41:18,640 --> 00:41:20,920
Speaker 3: There's tons of different softwares out there. And what this

884
00:41:21,000 --> 00:41:23,680
Speaker 3: does is basically take all the data that's on Amazon

885
00:41:23,719 --> 00:41:26,480
Speaker 3: and compiles it in front of a user fase right

886
00:41:26,520 --> 00:41:30,040
Speaker 3: an interface. So after you do all that manual stuff

887
00:41:30,040 --> 00:41:32,520
Speaker 3: to see is the product trending, is the project seasonal?

888
00:41:32,719 --> 00:41:34,920
Speaker 3: Is the profit margin there? Then you can use this

889
00:41:35,000 --> 00:41:38,240
Speaker 3: software to actually pull up, Hey, this is all the sellers,

890
00:41:38,520 --> 00:41:40,800
Speaker 3: this is the average reviews, this is the average amount

891
00:41:40,800 --> 00:41:43,560
Speaker 3: of sales. So you basically want to compare the amount

892
00:41:43,640 --> 00:41:46,840
Speaker 3: of sellers the amount of revenue to the amount of reviews.

893
00:41:47,120 --> 00:41:50,439
Speaker 3: So one of the like the telltale ways of seeing

894
00:41:50,440 --> 00:41:53,360
Speaker 3: if a product has high demand low competition is comparing

895
00:41:53,400 --> 00:41:56,080
Speaker 3: the reviews to revenue. So our bare minimum is we

896
00:41:56,120 --> 00:41:58,480
Speaker 3: want to see a majority of the sellers selling a

897
00:41:58,560 --> 00:42:02,360
Speaker 3: product at three hundred units per month, that's ten units

898
00:42:02,400 --> 00:42:05,000
Speaker 3: per day, and we want that profit margin to be

899
00:42:05,040 --> 00:42:08,319
Speaker 3: around you know, thirty percent, like we mentioned, and we

900
00:42:08,360 --> 00:42:11,040
Speaker 3: want a majority of the sellers to have less than

901
00:42:11,080 --> 00:42:14,080
Speaker 3: two hundred reviews. So if you see a bunch of

902
00:42:14,080 --> 00:42:16,359
Speaker 3: sellers who are selling a crapload of products per month,

903
00:42:16,400 --> 00:42:18,320
Speaker 3: you know, one hundred, two hundred, three hundred, one thousand

904
00:42:18,400 --> 00:42:21,560
Speaker 3: units per month, but they all have two three thousand reviews,

905
00:42:21,880 --> 00:42:24,120
Speaker 3: that means that there's a lot of ogs in that industry.

906
00:42:24,160 --> 00:42:26,160
Speaker 3: There's a lot of people that's been selling that product,

907
00:42:26,480 --> 00:42:30,759
Speaker 3: they have established track record with that With that industry,

908
00:42:31,000 --> 00:42:34,120
Speaker 3: people prefer that brand, just like Colgate. Like if you

909
00:42:34,120 --> 00:42:36,360
Speaker 3: go onto toothpaste, it doesn't matter if you're cheaper or

910
00:42:36,360 --> 00:42:38,919
Speaker 3: you're better. People love Colgate. They're not going to try

911
00:42:38,960 --> 00:42:41,480
Speaker 3: the new guy, right, So that's how we establish does

912
00:42:41,520 --> 00:42:44,279
Speaker 3: that product have high demand low competition? Is a lot

913
00:42:44,280 --> 00:42:46,000
Speaker 3: of sales a little bit of reviews.

914
00:42:46,200 --> 00:42:48,440
Speaker 2: Yeah, so now that you have the product and you're

915
00:42:48,480 --> 00:42:51,640
Speaker 2: registered on Amazon dot Com, what's the process of getting

916
00:42:51,680 --> 00:42:53,560
Speaker 2: it to the front page because that's what everybody sees,

917
00:42:53,640 --> 00:42:55,040
Speaker 2: right or even in the first two pages.

918
00:42:55,360 --> 00:42:57,160
Speaker 5: Is it like an SEO strategy that you can use.

919
00:42:57,280 --> 00:43:00,320
Speaker 3: Yeah, So SEO is search engine optimization, And that's a

920
00:43:00,320 --> 00:43:02,200
Speaker 3: good question. So a lot of the money, Like I said,

921
00:43:02,200 --> 00:43:05,120
Speaker 3: Amazon is the search engine, just like Google. So the

922
00:43:05,239 --> 00:43:07,480
Speaker 3: main goal as a seller is to get your product

923
00:43:07,520 --> 00:43:10,480
Speaker 3: is hied to the first page as you can. And

924
00:43:10,520 --> 00:43:13,560
Speaker 3: the way Amazon their whole algorithm works, it's very simple.

925
00:43:13,760 --> 00:43:15,400
Speaker 3: If you're the number one guy in the world and

926
00:43:15,400 --> 00:43:17,200
Speaker 3: you're selling one hundred units a day, I just need

927
00:43:17,239 --> 00:43:19,799
Speaker 3: to sell one more unit than you for a few

928
00:43:19,880 --> 00:43:22,200
Speaker 3: days in a row. So all we have to do

929
00:43:22,360 --> 00:43:25,200
Speaker 3: is run. We can do giveaways, and there's so many

930
00:43:25,239 --> 00:43:28,640
Speaker 3: different tools. We can run giveaways, we can do influencer marketing,

931
00:43:28,719 --> 00:43:31,120
Speaker 3: we can do PPC, which is pay per click, and

932
00:43:31,160 --> 00:43:33,920
Speaker 3: a majority of this is all within Amazon Seller Central.

933
00:43:33,960 --> 00:43:36,600
Speaker 3: We can do this all within Amazon. The only one

934
00:43:36,640 --> 00:43:39,600
Speaker 3: that I use that's very effective that's outside of Amazon,

935
00:43:39,680 --> 00:43:43,200
Speaker 3: which we were talking about, is influencer marketing, and this stuff,

936
00:43:43,280 --> 00:43:47,360
Speaker 3: super super simple. In twenty eighteen, Jeff Bezos had a

937
00:43:47,440 --> 00:43:51,000
Speaker 3: letter to shareholders that said that sales like third party

938
00:43:51,080 --> 00:43:54,560
Speaker 3: sellers are kicking first party sellers butts. So people like

939
00:43:54,680 --> 00:43:58,720
Speaker 3: me are kicking Amazon's actual brands butts and other huge

940
00:43:59,239 --> 00:44:03,080
Speaker 3: conglomerates brands butts because of the powerful resources that they're

941
00:44:03,120 --> 00:44:05,480
Speaker 3: dumping millions of dollars into. So, like, I don't know

942
00:44:05,520 --> 00:44:07,560
Speaker 3: if you guys ever try to run Facebook or YouTube

943
00:44:07,640 --> 00:44:11,000
Speaker 3: or Google ads. They're complex, they're difficult, The whole user

944
00:44:11,120 --> 00:44:14,200
Speaker 3: interface is difficult, and you got to know what you're doing.

945
00:44:14,520 --> 00:44:16,880
Speaker 3: With Seller Central, like, you can set these ads up

946
00:44:16,880 --> 00:44:19,399
Speaker 3: in a like in in a minute or less. There's

947
00:44:19,400 --> 00:44:21,440
Speaker 3: a few buttons and you click start. It's not as

948
00:44:21,480 --> 00:44:25,200
Speaker 3: complex as Facebook or Google. And they're very effective. And

949
00:44:25,239 --> 00:44:27,160
Speaker 3: we're able to literally take our product that no one

950
00:44:27,200 --> 00:44:30,040
Speaker 3: knows about, that barely has any reviews and push it

951
00:44:30,080 --> 00:44:33,839
Speaker 3: to the top of search results by this pai paid advertising.

952
00:44:34,480 --> 00:44:37,200
Speaker 3: And then my secret weapon is the influencer marketing. So

953
00:44:37,239 --> 00:44:39,440
Speaker 3: this is the only thing that's done outside of Amazon,

954
00:44:39,480 --> 00:44:41,759
Speaker 3: and basically it works like this. I use Instagram because

955
00:44:41,760 --> 00:44:43,879
Speaker 3: a lot of people know me on Instagram. You go

956
00:44:43,920 --> 00:44:46,360
Speaker 3: into the search bar let's say we're launching a yoga mat.

957
00:44:46,520 --> 00:44:49,120
Speaker 3: You type in hashtag yoga, and it's going to show

958
00:44:49,160 --> 00:44:51,000
Speaker 3: all the hashtags, and next to it's going to show

959
00:44:51,040 --> 00:44:54,600
Speaker 3: the number, which is the amount of actual searches and posts.

960
00:44:54,800 --> 00:44:57,000
Speaker 3: You want to find that keyword that has the most

961
00:44:57,040 --> 00:45:00,319
Speaker 3: search search volume or post volume, which means it's the

962
00:45:00,400 --> 00:45:03,520
Speaker 3: largest and most impression based keyword, meaning people were basically

963
00:45:03,560 --> 00:45:06,480
Speaker 3: searching for that keyword, So it's gonna be hashtag yoga.

964
00:45:06,600 --> 00:45:08,879
Speaker 3: We click on hashtag yoga, and we scroll through all

965
00:45:08,880 --> 00:45:11,360
Speaker 3: the feed and we just start clicking on different posts

966
00:45:11,360 --> 00:45:14,840
Speaker 3: to find influencers. So influencer is someone who has a

967
00:45:14,920 --> 00:45:17,960
Speaker 3: special following in a specific category. So we want to

968
00:45:17,960 --> 00:45:20,480
Speaker 3: find someone that has over ten thousand followers. And the

969
00:45:20,520 --> 00:45:23,919
Speaker 3: reason why ten thousand is the magic number is because

970
00:45:24,000 --> 00:45:26,080
Speaker 3: on Instagram, if you have over ten thousand, you can

971
00:45:26,080 --> 00:45:28,759
Speaker 3: do a swipe up story, meaning on their story you

972
00:45:28,800 --> 00:45:31,359
Speaker 3: can swipe up and send them directly to a website.

973
00:45:31,520 --> 00:45:33,200
Speaker 3: So we want to reach out to them by hitting

974
00:45:33,200 --> 00:45:36,000
Speaker 3: the message button, which is the DM. Right, Yogati made

975
00:45:36,000 --> 00:45:39,040
Speaker 3: that famous. They want to slide into their DM and

976
00:45:39,080 --> 00:45:41,319
Speaker 3: just say, hey, my name is Josh, I'm getting ready

977
00:45:41,360 --> 00:45:44,560
Speaker 3: to launch this yoga mat on Amazon. I love your page,

978
00:45:44,600 --> 00:45:46,120
Speaker 3: I love what you're doing. I'd love to give your

979
00:45:46,160 --> 00:45:49,600
Speaker 3: audience a discount on my product, which is an amazing product,

980
00:45:50,000 --> 00:45:51,919
Speaker 3: and I'd love to work with you. And they're gonna

981
00:45:51,920 --> 00:45:54,680
Speaker 3: be like, yeah, sure, awesome. Send me thirty bucks via

982
00:45:54,760 --> 00:45:57,520
Speaker 3: cash app or via PayPal, send me your link and

983
00:45:57,560 --> 00:45:59,720
Speaker 3: send me your content. So you send them a picture,

984
00:45:59,719 --> 00:46:01,920
Speaker 3: you see them the link to your Amazon store. They

985
00:46:02,000 --> 00:46:04,560
Speaker 3: post it. Now, people who love yoga, who want to

986
00:46:04,600 --> 00:46:07,000
Speaker 3: buy a yoga mat are going directly to your Amazon

987
00:46:07,120 --> 00:46:09,919
Speaker 3: store to buy your product. And remember, all we got

988
00:46:09,920 --> 00:46:12,520
Speaker 3: to do is sell more than the other guy a

989
00:46:12,560 --> 00:46:14,600
Speaker 3: few days in a row to kick his butt and

990
00:46:14,680 --> 00:46:17,560
Speaker 3: move up in the search results. And that's what we do. Man,

991
00:46:17,560 --> 00:46:18,600
Speaker 3: that's the whole strategy.

992
00:46:18,880 --> 00:46:23,200
Speaker 4: Yeah, yoga MAT's another good one. Yoga MAT's a huge one,

993
00:46:23,320 --> 00:46:26,560
Speaker 4: another product where nobody cares. Who makes a yoga mat.

994
00:46:26,640 --> 00:46:30,560
Speaker 4: I haven't ever seen anybody that's tripping off of the designer.

995
00:46:31,120 --> 00:46:34,480
Speaker 4: They're not looking for Gucci yoga mats. So let me

996
00:46:34,480 --> 00:46:36,200
Speaker 4: ask you this. I think you might have access already,

997
00:46:36,239 --> 00:46:39,160
Speaker 4: but I like to ask questions twice sometimes to really

998
00:46:39,520 --> 00:46:42,640
Speaker 4: double down for people that are slow learnings like myself.

999
00:46:43,360 --> 00:46:45,080
Speaker 4: This is this is the big this is the big

1000
00:46:45,080 --> 00:46:48,640
Speaker 4: one that everybody probably wondering. What's the budget that you

1001
00:46:48,719 --> 00:46:50,920
Speaker 4: actually need to get started in this business.

1002
00:46:51,040 --> 00:46:53,880
Speaker 3: Yeah, so I highly recommend obviously the more that you

1003
00:46:53,960 --> 00:46:56,799
Speaker 3: have access to, the better, but I recommend nothing less

1004
00:46:56,800 --> 00:46:59,160
Speaker 3: than one thousand dollars to micro launch and test your

1005
00:46:59,160 --> 00:47:03,200
Speaker 3: first product. Also, here's another thing. I'm an avid practitioner

1006
00:47:03,200 --> 00:47:05,960
Speaker 3: of OPM, which is other people's money. So even if

1007
00:47:06,000 --> 00:47:08,200
Speaker 3: you have cash burning a hole in your pocket or

1008
00:47:08,239 --> 00:47:11,080
Speaker 3: your banking account, but you have a zero percent interest

1009
00:47:11,160 --> 00:47:12,920
Speaker 3: a credit card, or you can go sign up for

1010
00:47:12,920 --> 00:47:15,799
Speaker 3: a zero percent interest credit card, use that because it's

1011
00:47:15,840 --> 00:47:18,000
Speaker 3: free money for the twelve months plus you're gonna get

1012
00:47:18,000 --> 00:47:21,600
Speaker 3: the bonuses and the benefits, so on and so forth. So,

1013
00:47:22,239 --> 00:47:25,000
Speaker 3: like I said, one thousand dollars to get started bare minimum,

1014
00:47:25,400 --> 00:47:29,200
Speaker 3: Definitely use lines of credit, business business lines of credit,

1015
00:47:29,440 --> 00:47:31,399
Speaker 3: or just credit cards. That's what I do. I'd never

1016
00:47:31,520 --> 00:47:34,080
Speaker 3: use my debit card. I personally use the gold Amax

1017
00:47:34,120 --> 00:47:37,600
Speaker 3: card because we get four X points on two different categories.

1018
00:47:37,880 --> 00:47:40,239
Speaker 3: So the two biggest categories that the money is going

1019
00:47:40,280 --> 00:47:42,680
Speaker 3: to be spent with your business is number one. Sourcing

1020
00:47:42,719 --> 00:47:46,400
Speaker 3: products and number two advertising. So with that gold Amax

1021
00:47:46,440 --> 00:47:50,000
Speaker 3: business card, you get four x the points on two categories,

1022
00:47:50,160 --> 00:47:55,319
Speaker 3: which is products right sourcing products, manufacturing products, and then

1023
00:47:55,320 --> 00:47:57,719
Speaker 3: you're advertising. So I'm using that and I'm like, people

1024
00:47:57,760 --> 00:48:00,480
Speaker 3: see me traveling around the world like them. Flights free,

1025
00:48:00,719 --> 00:48:02,680
Speaker 3: the hotels are free, and I'm doing it all off

1026
00:48:02,719 --> 00:48:03,600
Speaker 3: my Amax points.

1027
00:48:03,680 --> 00:48:03,879
Speaker 5: Yeah.

1028
00:48:03,920 --> 00:48:06,000
Speaker 2: So I know you mentioned Ali Baba as a potential

1029
00:48:06,080 --> 00:48:08,600
Speaker 2: manufacturer and partner. Are there any other ones that you

1030
00:48:08,600 --> 00:48:10,680
Speaker 2: would recommend or you know that's out there that are

1031
00:48:10,680 --> 00:48:11,160
Speaker 2: pretty good.

1032
00:48:11,480 --> 00:48:14,040
Speaker 3: Yeah. So Ali Baba is a website. It's like a

1033
00:48:14,040 --> 00:48:17,680
Speaker 3: broker and then it's like a It's almost like Amazon.

1034
00:48:17,800 --> 00:48:20,160
Speaker 3: So Amazon is not the seller, but they have sellers

1035
00:48:20,239 --> 00:48:23,760
Speaker 3: underneath their platform. Ali Baba is not a direct manufacturer,

1036
00:48:23,800 --> 00:48:27,200
Speaker 3: but people who are manufacturers go on lists underneath Ali Baba.

1037
00:48:27,320 --> 00:48:30,359
Speaker 3: There's a few others like Dhgate and Ali Express, which

1038
00:48:30,400 --> 00:48:33,160
Speaker 3: is a subsidiary Ali Baba, but Ali Baba is the

1039
00:48:33,280 --> 00:48:36,200
Speaker 3: largest and it's going to have the best prices direct

1040
00:48:36,320 --> 00:48:38,680
Speaker 3: B to B business to business dope.

1041
00:48:38,719 --> 00:48:41,279
Speaker 4: So that was a lot of information, But I just

1042
00:48:41,280 --> 00:48:43,680
Speaker 4: got one last question before we go into our last segment,

1043
00:48:44,120 --> 00:48:48,680
Speaker 4: Virtual Assistant. I saw you mentioned that on your YouTube channel.

1044
00:48:48,719 --> 00:48:52,160
Speaker 4: Can you just give some information on virtual assistance and

1045
00:48:52,480 --> 00:48:53,799
Speaker 4: how you're actually utilizing that.

1046
00:48:53,960 --> 00:48:58,080
Speaker 3: Yeah. Yeah, so VA's or virtual assistants are like another

1047
00:48:58,160 --> 00:49:00,279
Speaker 3: secret weapon in my business because the whole the thing

1048
00:49:00,360 --> 00:49:03,120
Speaker 3: is I follow this strategy is called the ASAP right.

1049
00:49:03,200 --> 00:49:07,760
Speaker 3: So ASAP is an acronym stands for autonomous, sustainable action,

1050
00:49:07,880 --> 00:49:10,080
Speaker 3: and perpetuity. So I'm always trying to find these four

1051
00:49:10,120 --> 00:49:12,919
Speaker 3: things and actions in there because faith without works is dead.

1052
00:49:13,080 --> 00:49:14,680
Speaker 3: You got to take action and you're not gonna get

1053
00:49:14,680 --> 00:49:17,120
Speaker 3: any results, right, So I'm always trying to find out

1054
00:49:17,120 --> 00:49:20,640
Speaker 3: ways to automate and delegate and not participate. And that's

1055
00:49:20,640 --> 00:49:22,600
Speaker 3: what if you go back to the beginning of the story,

1056
00:49:22,640 --> 00:49:24,880
Speaker 3: like my first mentor is always talking about touching.

1057
00:49:25,080 --> 00:49:26,799
Speaker 2: Wait wait, wait, hold up, hold on, say that again.

1058
00:49:26,880 --> 00:49:30,239
Speaker 2: You said automate, delegate and not participate.

1059
00:49:30,320 --> 00:49:33,080
Speaker 3: Hey, I'm trying to find ways to automate and delegate

1060
00:49:33,160 --> 00:49:36,200
Speaker 3: and not participate. I'm always asking myself, is this the

1061
00:49:36,280 --> 00:49:38,880
Speaker 3: highest and best use of my time and energy? Like,

1062
00:49:39,320 --> 00:49:41,000
Speaker 3: you want to become a millionaire, you got to think

1063
00:49:41,040 --> 00:49:42,680
Speaker 3: like a millionaire. You want to become a billionaire, you

1064
00:49:42,680 --> 00:49:44,839
Speaker 3: got to think like a billionaire and they're always they

1065
00:49:44,960 --> 00:49:47,200
Speaker 3: value their time more than anything, and they will trade

1066
00:49:47,280 --> 00:49:50,359
Speaker 3: money for time ten times out of ten. So I'm

1067
00:49:50,360 --> 00:49:52,960
Speaker 3: always thinking of ways to scale the business and scale

1068
00:49:53,000 --> 00:49:56,360
Speaker 3: the velocity and the volume in our business without scaling

1069
00:49:56,400 --> 00:49:58,160
Speaker 3: the amount of energy and time it needs for me.

1070
00:49:58,800 --> 00:50:01,440
Speaker 3: So the way I'm able to scale my company is

1071
00:50:01,480 --> 00:50:04,040
Speaker 3: by taking the reputitious duties that need to be done

1072
00:50:04,160 --> 00:50:07,280
Speaker 3: and by outsourcing it for pennies on the dollar for employees.

1073
00:50:07,320 --> 00:50:09,760
Speaker 3: So many people think that they got to do everything,

1074
00:50:09,760 --> 00:50:12,280
Speaker 3: they got to wear every hat because they can't afford

1075
00:50:12,360 --> 00:50:14,920
Speaker 3: to hire an employee. But there's VAS and all the

1076
00:50:15,040 --> 00:50:18,440
Speaker 3: top companies Fortune five hundred companies like Ge, like Apple,

1077
00:50:18,520 --> 00:50:21,640
Speaker 3: all these large companies, they use virtual assistance. And a

1078
00:50:21,640 --> 00:50:23,160
Speaker 3: lot of you guys who hear this right now, you're

1079
00:50:23,160 --> 00:50:25,560
Speaker 3: gonna be like like man, I was on the phone

1080
00:50:25,560 --> 00:50:27,799
Speaker 3: on customer support with this large company and it was

1081
00:50:27,880 --> 00:50:31,040
Speaker 3: someone who barely spoke English. And that's how they're able

1082
00:50:31,080 --> 00:50:33,239
Speaker 3: to do this is by using these vas, which are

1083
00:50:33,280 --> 00:50:36,560
Speaker 3: employees in other countries. So the best country that I

1084
00:50:36,600 --> 00:50:39,719
Speaker 3: have found that's not only very very affordable, but they

1085
00:50:39,760 --> 00:50:42,960
Speaker 3: are very loyal and very hard workers is workers out

1086
00:50:42,960 --> 00:50:45,720
Speaker 3: of the Philippines so you can go to online jobs

1087
00:50:45,800 --> 00:50:49,000
Speaker 3: dot pH and you can hire virtual assistants to do

1088
00:50:49,280 --> 00:50:51,720
Speaker 3: daily tasks to help you with your business anywhere between

1089
00:50:51,760 --> 00:50:54,759
Speaker 3: a dollar fifty per hour and five dollars per hour,

1090
00:50:54,800 --> 00:50:57,360
Speaker 3: depending on what they're doing. A majority of my virtual

1091
00:50:57,360 --> 00:51:00,880
Speaker 3: assistants are at two dollars and fifty cents per hour USD.

1092
00:51:01,200 --> 00:51:04,080
Speaker 3: They work forty hours. And the beautiful thing on top

1093
00:51:04,120 --> 00:51:06,359
Speaker 3: of being able to hire people in your company who

1094
00:51:06,360 --> 00:51:09,839
Speaker 3: are loyal and hard working is if you're in America

1095
00:51:10,719 --> 00:51:12,960
Speaker 3: and like right now, it's twelve o'clock in the afternoon,

1096
00:51:13,280 --> 00:51:16,120
Speaker 3: well in the Philippines it's like twelve o'clock at night

1097
00:51:16,280 --> 00:51:19,399
Speaker 3: or eight o'clock at night. So while I'm sleeping, our

1098
00:51:19,440 --> 00:51:22,080
Speaker 3: other employees in other countries are actually up working. So

1099
00:51:22,160 --> 00:51:25,040
Speaker 3: now our company is operating twenty four seven, three sixty

1100
00:51:25,040 --> 00:51:27,839
Speaker 3: five instead of twelve hours out the day or eight

1101
00:51:27,880 --> 00:51:30,760
Speaker 3: hours out the day. So that's two key components to scaling.

1102
00:51:30,840 --> 00:51:33,680
Speaker 3: Is Number one, you're able to automate and delegate instead

1103
00:51:33,719 --> 00:51:37,640
Speaker 3: of you actually participating doing reputitious stuff. Because if you're

1104
00:51:37,680 --> 00:51:40,640
Speaker 3: doing reputaious stuff, that's that you can easily delegate. You're

1105
00:51:40,680 --> 00:51:43,880
Speaker 3: working for your company and not on your company. So

1106
00:51:44,120 --> 00:51:46,680
Speaker 3: and this took me years. Like I've made millions of

1107
00:51:46,719 --> 00:51:49,520
Speaker 3: dollars across my three companies, I've made millions of dollars.

1108
00:51:49,719 --> 00:51:53,280
Speaker 3: And it was a combination is as entrepreneurs, we're control freaks.

1109
00:51:53,360 --> 00:51:55,440
Speaker 3: It's like our baby, it's like our child, Like we

1110
00:51:55,560 --> 00:51:58,160
Speaker 3: built this thing up and we want control of everything.

1111
00:51:58,239 --> 00:52:00,439
Speaker 3: So it's hard to give it to some someone else

1112
00:52:00,520 --> 00:52:02,319
Speaker 3: knowing they're not going to care for it the way

1113
00:52:02,320 --> 00:52:04,000
Speaker 3: that you would. They're going to treat it, you know

1114
00:52:04,040 --> 00:52:05,200
Speaker 3: what I mean. They're not going to treat it the

1115
00:52:05,200 --> 00:52:08,000
Speaker 3: way that you would. So it's difficult. But on the

1116
00:52:08,000 --> 00:52:10,600
Speaker 3: odverse side of that, you have to understand in order

1117
00:52:10,640 --> 00:52:13,560
Speaker 3: to scale that you have to be able to delegate.

1118
00:52:13,920 --> 00:52:15,640
Speaker 3: And that's like a key thing, Like you guys got

1119
00:52:15,680 --> 00:52:18,719
Speaker 3: to focus on working on your business instead of for

1120
00:52:18,880 --> 00:52:21,600
Speaker 3: your business. So now, like I'm an avid believer in

1121
00:52:21,640 --> 00:52:23,960
Speaker 3: the eighty twenty row. I tell people this all the time.

1122
00:52:24,239 --> 00:52:26,840
Speaker 3: Eighty percent of the profits, eighty percent of the momentum,

1123
00:52:26,920 --> 00:52:29,279
Speaker 3: eighty percent of the results comes from twenty percent of

1124
00:52:29,320 --> 00:52:31,560
Speaker 3: the effort. And now I can get more done in

1125
00:52:31,640 --> 00:52:33,920
Speaker 3: less time now than before when I was following the

1126
00:52:33,960 --> 00:52:36,359
Speaker 3: Gary Vee Like I was working sixteen hours a day,

1127
00:52:36,400 --> 00:52:39,279
Speaker 3: twenty hours a day, hustling, and I would literally get

1128
00:52:39,320 --> 00:52:42,359
Speaker 3: depressed if I didn't fall asleep at my computer because

1129
00:52:42,360 --> 00:52:44,840
Speaker 3: I thought I wasn't doing everything I could, you know,

1130
00:52:44,920 --> 00:52:47,399
Speaker 3: to accomplish my why which was helping my family out.

1131
00:52:47,400 --> 00:52:50,040
Speaker 3: Like I told you guys. But now you can work smart,

1132
00:52:50,120 --> 00:52:53,120
Speaker 3: not hard, and by being productive. There's a huge difference

1133
00:52:53,120 --> 00:52:56,439
Speaker 3: between being productive and being busy. See, I thought being

1134
00:52:56,440 --> 00:52:59,840
Speaker 3: busy was being productive. Now by through time management and

1135
00:53:00,040 --> 00:53:03,239
Speaker 3: virtual assistance and you know, just keeping track everything and

1136
00:53:03,320 --> 00:53:06,680
Speaker 3: using software as like Slack and TrailO. With your management tools,

1137
00:53:06,880 --> 00:53:09,399
Speaker 3: I'm able to be productive and accomplished way much more

1138
00:53:09,400 --> 00:53:11,319
Speaker 3: and less time, which means I can spend that time

1139
00:53:11,320 --> 00:53:14,400
Speaker 3: with my kids, with my wife, or working on other things.

1140
00:53:14,800 --> 00:53:18,040
Speaker 4: Not I was powerful, man. That was a lot of information,

1141
00:53:18,080 --> 00:53:18,879
Speaker 4: a whole lot of game.

1142
00:53:20,080 --> 00:53:24,000
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1143
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