Only Connect - the critical importance of relationships and how to grow them

Amazing FBA


Have Welcome to amazing. Fbi This is your host Michel Visi. Walk into the show today. It's appropriate on speaking cheese. Stunning up I recently spoke at the White Liberal Expo in London in November. Twenty nine thousand nine now. I can't reveal anything yet about this exciting speaking engagements coming up. I want to share with you. Just got off the phone with somebody earlier today often very exciting opportunity. Which I've said yes please with both hands and I just got off to that with somebody who has been exploring what can with mentoring client. Who actually has some very serious cop behind him and a lot of business experience in the end we are discussing the possibility that I may work with them. As sort of that part of the team were more of an agency basis. I guess van on `simple consulting basis and what struck me about this is also relevant to what I was talking about with the five business models I've mentioned in the last podcast which is to say retail arbitrage online arbitrage wholesale relationships private label and agency model the five Mesa. I know often that people that I know work with to make themselves money on Amazon and bill businesses of various different kinds. I'm one of those reflecting. Was the common thread amongst some of these things that I'm really conscious today of all days. It's relationships again. People could get a bit separated between the reality of what drives money transactions online and the mechanism itself so the mechanism itself is kind of magic. How many of you got something like Amazon? As kind of magic. Because it manages to bring millions and millions and millions and millions of eyeballs every single day to products and the conversion rates are incredible. They produce an amazing customer experience which includes incredible ability to fulfil products in other words. They ship stuff. They stole stuff. They have an incredible machine that they built many many years of hard work by this was not always the case. These things that Grow Adam. No Way they've worked incredibly hard and they were first movers as well. Plus Jeff Basis. Whatever else you may think that Various business processes is a shopping shop. Is Guy Probably on the planet right now for my money at least in the textile base the movie somebody shot him coming up through the can take his crown but he smart enough to know that so my money he still the most proven smart guy out there and guess what the reality of it is that behind every transaction bowl though they have built this wonderful magic machine and it is kind of magic when it works and it often does even though anyone who's been sending anonymous while knows you have to get the rest of this means that it's like Magic Butts. The thing is on the other side of that. Transaction is a person buying a product and the more I'm always going on about this and I make no apologies for the more. You understand your customer. If you'RE GONNA be private labeling anyway or anything that you get to influence the listing. So if you're working with the wholesale account if you have some listening control you certainly should do this as well. You've got to really really really meet the customer weather. Also you have to understand the mentality. So in the end it's about people and the processes are way to bridge the gap between the pest producing product and the consumer. Another thing to say is that of course relationships and to the equation when you talk about supply if you are private labeling you have a relationship with the guys new factories and actually if you're serious private label as one of the Maas. My members in ten K. collective mosman recent experience. When he went to China I think it was actually last year. They went They literally had the red carpet experience at all. The the people lined up along the streets on the way to the tree they had Miniature music playing you know the usual the whole nine yards as I say so. This is an example of how important they had become too that factory based on it has to be said the relationships based on volume when it comes to supplies off Physical products the manufacturers. Not School supplies. In fact supplies can include anybody who you pay for services or products so put in a broader sense that includes people like Neil coaches or mentors or personnel. Runs a mastermind. Such is the mic guys in the mosman happened. The ten collective mastermind includes you'll photographer. It includes anyone who writes your listings for includes any agency that you might use for managing oh PPC your Amazon ad for example and those are all relationships yes they may be mediated via websites via online software. Whatever but the main thing to remember all the stuff is man-made or it is person made I should say artificial notice the word artificial mean it means made by hand made by hand so it is not something that grows organically like a tree or something all these things that create you by people full people and if we lose sight of that we lose sight of what for me personally and maybe this is not a software engineers where I've looked at the world or an engineer's wherever what for for me personally. What's behind all of this stuff is in the end? Relationships wholesale is an interesting one where we have probably even more of a delicate impulsive relationship with the people that you buy wholesale from now. I have to say cause on. The tape is something. They'll have almost no past experience. I'm learning going through a course at the moment. I'm learning all about that. I'm very excited to get out and try my hand at this but I know that in the end sometimes these distinctions between the business models are artificial anyway. Because I was looking to have a relationship with a brand owner and fat doesn't own a Brian yet. But somebody he's got a serious business but it is looking into private labeling house going to have the conversation about having a consulting relationship with them and then in fact we're probably going to have more of an agency relationship will actually help implement a lot of this stuff and maybe. I'll end up hiring more staff to deal without a skeleton stuff that I can tend to to Amazon specific activity by that Cetinje. Something that We can develop out as needed and then of course. The next thing I'm going to be doing is trying to get the same relationship with some wholesale browns who I might initially start for the relationship while I just give the money and they put us and we might end up in a sort of partnership so I guess what I'm saying about this. This includes even speaking forum at conferences. Or anything like that. Again is a partnership. Because the the P the conferences needs speakers and speakers me needs to get exposure of the brandon message so in the end so much in my experience business well comes down to the same stuff the experience in the music world. Which even though it been doing the E commerce as my main business my main job or profession for several years now that Still keep behind him with music. I still love my music and does not actually as much of a division as I thought because in the end I think the thing that I found most powerful mice exciting in the music making was relationship between the former audience between the conducts and the orchestra of like the the leader in the team and between people in a do a partnership where you have a a singer work with pianist or something in the end. What was interesting to me is is relationships. I love music. Also very fascinated by intellectual game and the sort of Sport if you like a business because in the end you have skin in the game and asset Nicholas Mac never say his name Nassim. Nicholas Talib forgive me if I put Mr Todd says having skin in the game basically makes you make better decisions so effectively makes you smarter and I love that about business. But the common thread through all of this stuff that struck me very very strongly today after she really powerful phone calls of people is relationships nowadays. Start all of this view starting from scratch. I think you need to just be a couple of things. You need a bit of structure to create a relationship with somebody who can help train you and that doesn't just mean a mentor or coach Could willingly it probably means a group of you'll pay is now. I think you should be selective about you. Mean by because the people aren't taking action is a majority of people in any course for example they all your peers. If you're an action taken by the way reality check if you're one of the people that talks a lot and doesn't take action. Abby not person every so often and I can still end up in their. Don't kick myself in the button and get on with it. Then you'll peers. Are The people doing the same things you might? Just be real about that. You'RE NOT GONNA get into group of action takers. If you're not an action taker. So you got to start is chicken and egg but you gotTa Start Yourself. You're going to have some hungry yourself. He depend on other people to do the work for you which is another thing about partnerships. I guess even if you were more sophisticated person for private label seller in you considering possibly branching into running an agency or if you Of a private label sal and you want to add wholesale to add some stability to the mix of easy cash flow whatever it is then again. A lot of it comes down to ability and encourage in relationships and a Dan. Mattis said the other day who teaches wholesale. But it's true. I think across all sorts of business models within the e commerce. An Amazon sphere as has broadly. The truth is with the relationship if you all very very hit to what the other person in the relationship needs to serving that person and you are determined to serve them whether or not you're immediately getting paid or even if you never get paid then that mentality that that's orientation to the rest of the world will serve you very very

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