Amazon, FBI, UK discussed on Amazing FBA
I think my whole life change once I realized that I create and so my inputs online is like high could create a one man marketing machine that ram without me. Once I set it up which was so different to the day jobs and freelance work, and I'd been doing up to that point my real success came when I was able to sell the products that I wanted to sell it all started with private label products on Amazon and continues to this day. I feel everyone has a potential business inside them starting a real business isn't a walk in the park and private labeling is no exception. But for a person with dedication, determination and a modest amount of capital. This could be the business that makes all the difference for that person. It said was for me. I want you to create your business, and there are so many benefits to it. I describe exactly how you can do it in the ten steps to building your own private label business guide. There are no strings attached is get it for free at amazing FDA dot com was last build that's amazing f for, Freddie. Beef ability eighth alpha dot com was last BU. I l d that's. It's amazing FDA dot com would slash build. I hit by introduced to you, Mr. visi. Hey, hey, hey, welcome to amazing FBI the place to be for UK based Amazon entrepreneurs I'm your host Michel visi. Welcome to the show. Hey, hey, as ING FBI FBI's. Welcome back to the show. And I've got a quit one hate today. This isn't a particular formal topic. I wasn't gonna do put us today. Butts in very important to talk about I'm not quite sure the neat way of getting is. But basically don't overlook easy wins or possible wins in your existing business. Now, this is only going to be an episode relevant to those who are already selling online in some form, some kind of ecommerce actually plies to anyone who's selling in any business whatsoever. Really? So his thing with these days increasingly with mentoring clients to say people who already have turnover, but don't necessarily know the Amazon space. What is they could all don't Unsan private label? So got one client who's doing about one and a half million pounds a year on I'm ready, so kidding. But with a wholesale business model weeping working together to get his private labeling knowledge up and the whole importing from China. And how to go about private labeling us opposed to reselling other people's? Doubts. So that's one person had big wins. Obviously masses to improve neck while easily somebody else being working with recently. He's done the classic thing and private label to let it products follow. The course by Adam Hudson who I really respect and admire and unaffiliated the government affiliate forwards his courses as well. And I guess we've put a link on mazing FBI dot com for SaaS Adam Hudson so going to check that out what Adam h a very good guy. But anyway is working with who. So we may name Nichols. Private. Client has audits got full on order to have arrived, and we would just getting through the the numbers really the other day with these ads and the business reports. So once you've got some revenue it's very easy for a coach to help you at least not waste money. But what I love is coach or mentor is people who've already gotten existing business because I just to a new potential mention. Clients. I guess he's he's a Muslim. But the moment, but whatever we have a relationship to help him, and he's already selling on Oetzi, Andy selling very, peaceful stuff. Obviously not going to reveal what it is. But I you know, he was busy saying to me. Well, I'm my, you know, I'm finding count scale this because I'm physically hand making the products, and basically I wanna look into private labeling and on Amazon and got a load of random products. Todd. I don't want to sell plus rubbish cheap rubbish. But on the other hand. I guess it's going to be scalable. I could hear him sort of reluctantly turning his back on his existing business model and going off in completely foreign direction because he's perception was this business models broken because it calms scale first of all he selling very she units per month, probably overpriced. And Secondly over overpriced. But to expensive to sell many units. And the second problem is because he can't scale the production side, and he's getting himself, even though he likes it's not sustainable. He's already got an existing businesses. Running say, it's not. Sustainable. So here's the thing. I think so important to be very clear about a business model, and if you have a particular sales channel mocked channel like Amazon powerful is it is it is not a business model is just part of a business model. Now, if you selling Oetzi a making stuff yourself, then that's a business model you can break into bits as well. So instead of making stuff yourself, I said to this guy. Well, actually, you know in his existing business, very capable guy and has an existing business. There's a service based business, and he's already outsourcing of the stuff to people and has a team and he's hired people said, well, look should you've gone through the prices of hiring people. You've tried some people that messed up you hide of the people that are good you standardized procedures and so forth said yeah. Yeah. I said look you just need to read the Email by Michael Gabby. He said, yeah, she got a copy on the shelf said we'll look gotta to reach us reread up. I don't wanna teach you my grandmother's cakes 'cause she, you know, a lot of this stuff already. But he needs to read. It and implement this thing of the idea of the difference teen technician somebody works in the business getting very good at a particular craft and his case making these wonderful objects to sell on at sea quite expensive things between about forty pounds some of the things up through to two hundred pounds. So high price points. Heavy as well, not the classic ways under two pounds fits and she walks traditional private label thing, and he was saying that I'll I think he I'll to create something like that. And I said, well, look his thing you go. Something is working. It's not working too big scale yet. But that scaling issue, and that's maybe a marketing issue price point at such. But the other thing is the production side is just the question of capturing design in some form physically and finding somebody to make it. I just that could be a big job. It could be hard to find him. He can do that. But I said it you just need to look at six on these FBI revenue calculator UK because he was setting in the UK just crunch the numbers. If you find a very similar objects to what you're selling grab the ace in for that the Amazon identify number the code. I was gives the jets and put it into FBI revenue calculator, you can calculate pretty straightforwardly the Amazon cost saw, and then you can calculate what you can afford to spend on getting the product made and ships. To you will shift into Amazon, pretty simple, really. Yeah. The devil will be in the detail. I'm not saying it's going to be a bull can apart to find. Somebody somebody's capable and has across scales of making beats for jets nor to find somebody has to capacity to scale up. But I said look everyone gets obsessed with scaling meaning you have one product line, and you sell a thousand units over that site the old traditional pitch for all the the normal a standardized. What am I saying cool seas for setting Amazon, the private able ones and sure that can work that can be a model, but equally you could have ten product lines selling ten each and that's one hundred sales a month. But if the average price point is about one hundred pounds, then you know, you got a nice little business that could be ten thousand pounds a month. There's twelve thousand dollars whatever you want. And if you making it twenty or thirty percent margin to three thousand pounds of month three four thousand dollars. Nice little business. I'm in. Yeah. If you're I'm Bishop who want to scale it up. But you know, there was so many easy wins that potential wins. No saying easy easy. But obvious I would say put it that way worth exploring the they took from that is just never if you got revenue if you've already in motion with this e-commerce stuff than the first thing to do is look at your business and look for opportunities and and problems you can solve the problems example, somebody else's work in with somebody else. Very production oriented. Who? Quite well, make you thousand a month intensive revenue, but he's profitability was terrible because he was just spending. Crazy mouse Adamas now like ninety percent of his revenue we spent on ads terrible. So I mean, we just didn't have a chance to dive into the numbers before he he's paying in my mind, very overprice mentoring pregnant was like ten twenty thousand pounds a year or something he didn't seem to be getting much volley from it compared to my mentioned, which is four hundred pounds a month that points five hundred now will if you commit for longer can be four hundred pounds. So by the way, interest you amazing FBI dot com slash mentoring. These in the big pace from entering having said that I'm gonna have my coach because it's very hard to see what's going on inside your business. So if you can have the discipline to look you'll business objectively. This guy, for example, spending too much on Amazon's. But again, the stuff he was making his hand making it kitchen table, not ease the scale. But again he had that production side, Don, his branding was beautiful. So in his case it was the economics. And the guy was working with today was more about the not the economic so much as the economic meeting the production capability in scaling it up. Although these guys might have things to say to each other. So that's basically a couple of things I would say out of this one is don't overlook already in your business. Don't overlook the problems unteneble nights them if you're spending on ads don't don't just be blind by revenue you need to get profit. Eventually once you've done launch. And if you launched an you're still spending crazy nods, you really got to look at ways of making it work in an could be you need to differentiate your products better and still get Ganic sales. It could be that keyword density listing isn't good enough. It could be other things. The second thing is eight does help to get an outside perspective. A coach is also they're expensive. But if you've already got revenue, they're an investment on expense. The here's the thing that I've noticed with beginners. He got revenue always had the sinking feeling and they do as well. And they've got a point and this is the sinking feeling spending money, but not making money back. They will in future. I still think is great investment for the future. But it's more speculative. I still think is very worth as much, but it's a spend, you know, one hundred fifty quid getting a reality check for me, and your sourcing than spending five thousand pounds on something from China, and to discover is not going to be sellable qualities rubbish or that, you know, there's just not a market for it. So it's definitely there set and points where spending a small amount of money could save your large amount of money. So those two places for me are before you source and before you launch. So if you then check out the blog, we have one of consults, I can defeat how the gem sourcing check and the rare. Launch plan check. But what's really wonderful when you working with people who have revenue ready as a coach you can save somebody's so much money so easily give them just show them where the opportunities already are in that business so easily that it's fantastic easy to help somebody under get a return on the investment on the coaching pretty quickly, and we took him within weeks or a month or two so that's a wonderful thing. So for that reason, I'm really much focused on working with people you've got existing revenue in my mentoring now, and specifically people who are turning ever between about thousand pounds month and up to say twenty five thousand pounds and above that than the best can help us to get you into the ten K collective mastermind where people really really doing well in the best person in there's double their money. But if you wanna check that out get to mazing, FBI dot com. I ten K. So interesting slightly random nail ticky late. So I just wanted to leap on the podcast on just get that out there because I just feel I've done. This myself as well as so easy to run fifty thousand miles in that direction from where you're at because you perceive that it's painful unsustainable. But actually, even if you've got a day job or hobbies evening for twenty years. You don't need to go into just completely neglect without knowledge on the contracting. That's fatal. I really think. It's absolutely critical. Just mission critical that you understand your target market. And the best way to do is be member of it. So if you owe person that loves peaceful things will jewelry or as obsessed with the perfect pocus microphone like I am I've tried three so far I'll probably buy more because of buyer is a buyer is a buyer's mild business. Coach, Tom Brady's. In other words, if people buy stuff a lot there probably by more of hit. So if that's you don't run away from what you know and understand even if you have no turn for tool to start with who you are. And really understand what people want before you go and get wonderful solution tonight. Not a jest of a boring all just say. Same old same old city because that will just be shopped on price never gonna work so anyway acquit reflection. Hope the helps as just quickly in case it is relevant to you. If you wanna check out mentioned with me, and they don't come. I like mentoring cost as five hundred pounds a month or about six hundred and something dollars got people as far afield as Mellon even running cle- somebody from north London with me. He's he's in Melvin says originally, we would mean three miles apart. But when I'll several thousand and what would people in Germany islands a lot by sneak AA, of course, even Poland one. So that works, well, if that helps you was book AI consultation and see if it was gonna be for us. But that's -application only, and I will take people more seriously got turnover so bad that in mind, but the helps in whatever you do whether you what with me or Mazda Midal just thinking of yourself. The main thing is to do best to look jackson-lee what you doing and. Don't try the baby out with the Bothell too. Because you probably will find in your existing life. Even if you have a business yet that there is really potentially some great wins if you tweak stuff, rather than just wholesale change, everything that was helpful. Thanks very much for listening speech in the next cost.