How to Make $4,000 PROFIT Each Month Selling on eBay and Amazon!
Transcribe of “How to Make $4,000 PROFIT Each Month Selling on eBay and Amazon”
Okay, so tonight is all about how to make $4,000 profit each month on eBay and Amazon. The slides from tonight will be available for download for everybody for free so you don’t have to write everything down. I’ll send you out and also I’ll send your link out tomorrow where you can download the slides for free. So, you don’t have to write everything down. Alright, so our vision our purpose of what these groups is all about.
It’s all about helping other people to also enjoy the benefits we have living in this day and age of working on the online, on the online world
It’s all about helping other people to also enjoy the benefits we have living in this day and age of working on the online, on the online world. So like it says there, to help more people replace their income with their own automated online businesses, so they can also enjoy the freedom and lifestyle of the internet.
We are a nonprofit group
We are a nonprofit group. So the money you guys pay to get in the door tonight goes to pay for this room. We do get people asking, “Hey for my $10 I should be getting beer and pizza and whatever else we did last time.” So, there was no beer and pizza, I’m sorry. It does go to pay for this room. There’s no products at these events ever sold. So, anyone’s got a firm clasp on the cheque book and their credit card, there is no events to be allowed by any of the presenters at these events. It’s all content only.
Who am I?
So, who am I? For those people that know my story. But basically, I’ve been doing this selling online since 1996, over 20 years now. And I got into this originally full time because I didn’t want to get a job. It’s purely that reason. Is cause I was a divorced single father, and I wanted to put some money, food on the table, pay the bills without getting a job. And that’s what inspired me and pushed me into it. And I love it, I’m really passionate about eBay and Amazon.
We only sell on eBay, Amazon and I run websites
We only sell on eBay, Amazon and I run websites, that’s all we do. And we just do importing and drop shipping only. Now tonight I’m going to go through a lot of different methodologies, including used items. We don’t do used items. We have in the past but I’m just more passionate about importing and drop shipping. How to Make PROFIT on eBay and Amazon
I’m just more passionate about importing and drop shipping
But, everyone’s different as I’ll go through tonight. So, that’s basically my story. Okay, so tonight is interactive. We try to keep these things always interactive. So you guys, if you have any questions at all, please ask. If we start going over time, I’ll let you know. We’ll have to cull the questions. But while we’re in time, if you have any questions, please ask, it’s what we’re here for. How to Make PROFIT on eBay and Amazon
I’m going to go through some industry terminology
So, I’m going to go through some industry terminology. So, for the people who have been here before, and you know, it’s full time sellers, apologies, cause you guys will know all this stuff. But, we have a lot of new faces in the room, so it’s important they know what we’re talking about, hopefully. I’ve been doing this since 1996. You know, I do tend, I’m very guilty of using words that other people don’t know. So, I’ll try and get some of these words on the table right now. If there’s any other words I use tonight, please ask. So, just before we get hook, you know, quick update.
eBay revenue, as you can see here last data I’ve got is Q1 19
eBay revenue, as you can see here last data I’ve got is Q1 19. As you can see eBay revenue continually there. There’s plenty of meat in the in the pie for us all. Same as Amazon. Plenty there of sales. Now, the question that often comes up a lot is what’s bigger eBay, Amazon, selling on your website? And I’ll cover a bit of that tonight. So, tonight I’m going to go through multiple strategies. I’m a huge fan of multiple strategies.
Fan of multiple strategies
I hate having all my eggs in one basket. So, even when you’re starting off, if you’re just selling on eBay, or you’re just selling on Amazon or your own website, I’m a huge fan of having many products. Cause then if you lose one who cares? But if you got all your eggs in one basket, it can really hurt you. I was at this presentation last night in Adelaide, there’s a lady there, her and her daughter they spent the last over two years in with one product. They spent over 20 grand on this product, over two years of intense work getting this product. Now, that’s a lot invested in that. And if that thing goes belly up or they get a big competitor it’s two years down the drain.
I know some maybe you guys, someone here has got a product they’re really passionate about
I’m not a fan of that. Some maybe you guys, someone here has got a product they’re really passionate about. Look, that’s awesome. I just suggest if you don’t, then you diversification is always my biggest thing. Now, it’s all about one item. This comes up a lot. A lot of people don’t realize how close to success they are depending what their degree of success is. Maybe your degree of success is to replace your, you know, the wage that comes in from your partner or from yourself. And it all comes down to one item. And what I mean by that, if you have in place a methodology to research and find one item and sell it, and you can repeat that strategy, you’ve cracked it. One item.
A methodology to research and find one item and sell it
So this we said again, a methodology to research and find one item and sell it. If you can repeat that strategy you got it cracked. All you got to do is double down or repeat, repeat, repeat and optimize. So I’m going to show you multiple strategies tonight. It’s a matter of learning one and the just double down. A lot of people get, they’ll sell one item, and then they’ll get like two, five.
And what I say to people, I’ve coached many people over the years, and once they’ve got like five sold, I normally say, “Grab your partner, get a restaurant, get a bottle of wine and celebrate.” Because many people only dream about this, being able to get to like five. Because, if you sold one item it could be a fluke.
Two items in the same methodology, chances of being a fluke is dropped a whole lot less
Two items in the same methodology, chances of being a fluke is dropped a whole lot less. We get into the single statistical significance. Once you got five, there’s a greater than 92% chance it was not a fluke using the same methodology. We’ll get more of that tonight. Okay, so you learn the strategy then you outsource it. Use 10% of your profits. You pay Vas, virtual assistants, one to two dollars an hour to repeat the process. If you can record your screen, you can outsource it for one to two dollars an hour. So we use low cost virtual overseas staff.
Use low cost virtual overseas staff
I’m going to show you tonight how to get those staff for one or two dollars an hour. When I first started off, I used to fly to Sabul all the time the Philippines. We used to pay 895 dollars US per person. These days, we pay one to two dollars. So, the virtual assistants they run and they grow your business. Not just run it but they grow it. We call it a one to 100 ratio. You want to get to the stage where if you worked one hour, your staff work 100 hours. It’s called leverage. And this is a big, a lot of the I have here tonight, I
It’s a lot of it is just all a mental game
t’s a lot of it is just all a mental game. So many people get to the stage they want to outsource. Why, mental game. Because they don’t believe that they can out someone who can do the job just as good as they can. Sorry to say but they often can. Sometimes better. If you work 100 hours, yeah your VAs work 100. So, obviously, what’s your 12 month goal? You know what drives you, what you’re passionate about?
Do you want to give up your job?
Do you want to give up your job? Do you want to bring extra money? And do you want to get your partner out of work or whatever it is. But, you got to set that and that’s your 12 month goal. So, comes down which strategy. Apologies for this tiny writing, but I think this is the worst slide. Used items, new items, importing, drop shipping, selling on eBay, selling on Amazon, selling on your own website, Shopify or independent website which we’re going to get into tonight.
Private labeling, flipping, where you buy stuff and flip it immediately and sell it, trade up, selling niches, selling listings.
Private labeling, flipping, where you buy stuff and flip it immediately and sell it, trade up, selling niches, selling listings. There’s a lot of money in this and I’m going to get to that tonight as well. And what is the most profitable methodology? It’s not always about the most profitable methodology, it’s about what you’re passionate about as well. Cause if you don’t like doing what you do, it’s a big drain. How to Make PROFIT on eBay and Amazon
The exit strategy
You got to be doing, you’ll be in that river, you know, doing what you feel like doing. So, same deal. So, we’ve talked a lot about this before, anyone who has been seeing me speak before they know how I always hap about the exit strategy. And it’s cause it’s such a major thing. And the exit strategy is if you want to sell your business, you build it so it runs without you.
The other big advantage of building a business like that is it runs without you
But the other big advantage of building a business like that is it runs without you. Whether you sell it or not, you build a business which runs without you so you can have a life and do things that you’re passionate about a lot. Cause you know, a lot of people say I love working. Yeah really? You’d really did prefer list something on eBay or Amazon, than take your kids to Europe, really? I’m skeptical. Anyway, so you build a business which works without you and it grows without you, and you do it through Vas and software. Yeah, sure.
What does the VA actually do?
– [Man] What does the VA actually do?
– VA can do any, basically if you can record your screen on any task they can do that. So they can be doing product research, or they could be listing products. They could be processing orders, they could be doing customer service.
– [Man] So it’s a real person who is somewhere else or are you talking about a computer?
– No, it’s a person. Okay, so today there is less barriers to entry than there ever was before. Cause a lot of people say is this a good time to get into it? It’s never been a better time and here’s why.
No longer need any capital
You no longer need any capital. When we started we had to buy all our inventory up front before it got sold. You don’t have to do that anymore. That was a huge hurdle. You don’t need to have inventory on hand anymore. So when we started off we used to hit across, fill their house up, fill their garage up, we filled up our spare rooms. I even did things like bought an old furniture tractor, a 40 cubic meter, old furniture removal truck that had just under a million kilometers. Park that in our back driveway. We did everything to try and get more room.
Everything is done virtual
These days we run the whole shebang from our, we live on a farm these days, and these are farms in North Coast and we have no inventory on hand, we have no stuff on hand. Everything is done virtual. I’m going to talk about how to do that tonight. So you no longer need a warehouse. Trips to China are no longer required. When we first started off I used to go to China so much they used to fill up the passports before they expired cause we used to go do so much traveling. How to Make PROFIT on eBay and Amazon
These days you don’t have to do any
These days you don’t have to do any. Location no longer matters. 95% of items are duty free from China since December ‘O5, one five, 15. You get logos now done for five dollars, you can get listing templates done for less than $100. Our original listing templates and our website cost us over 10 grand when we started. Over 10 grand and that was, now you can get them done for less than 100 bucks. Get outsourced staff from a dollar. Like I said we were paying 895 dollars US per staff member. Plus I had to fly to the Philippines to train them. Now, you don’t have to do it anymore. Don’t need schooled staff anymore, you don’t need to guess anymore. So we did a lot of guessing in our early days.
Everything is just done off numbers now
These days we do zero guessing. Because we learned a long time ago with our staff, if they can guess, there’s a greater than 50% chance they’ll screw it up. So there’s zero guessing. Everything is just done off numbers now. No need to purchase any public domain list anymore. Cause a big prominent purchased public domain list of suppliers and products, every man and his dog buys the same list, and they find the same products, they find the same suppliers and everybody lists the same stuff and fights out for margins. I.e. USB cables, iPhone cases, iPad cases, a lot of kind of stuff. No social media. I saw this, I thought it was pretty cool. Cause a lot of people hassle me because I’m not on Facebook very much.
I’m not on Facebook is cause there’s a lot of things I’d much prefer to do in my life than sit there is Facebook
And the reason I’m not on Facebook is cause there’s a lot of things I’d much prefer to do in my life than sit there is Facebook. But each their own. So I’m not saying any strategy is wrong, I’m just saying we do what we do and everyone’s got their own ideas. Okay, so there’s no need to guess anything. Like I said, we have data today. So, some terminology just so everybody knows what I’m talking about hopefully. Amazon FBA of course short for Amazon or Fulfillment By Amazon.
Amazon FBA of course short for Amazon or Fulfillment By Amazon
In other words, if you sell these, you send them to Amazon, to an Amazon warehouse, they’re in one of these boxes and when they sell Amazon picks it, packs it and sends it to your customer. There’s two Amazon warehouses currently now in Australia. One in Dandenong, another one Moorebank in Sydney. So, 400 Amazon FBA warehouses around the planet. So any questions so far, you’re all quiet so far?
– [Man] Quick question. For our target market, do we choose which country to send the product to, or if we send it to for example the one here can they ship it around the world?
Amazon can ship it around the world
– Amazon can ship it around the world, yes. And if you use the three pier which I’m going to get to tonight, they can ship around the world too. So, Amazon FBA. They warehouse your inventory, they ship your inventory for you, they fulfill Amazon orders, they fulfill your website order. So if you sell something on any website, you can have Amazon ship it for you to your customers.
If you sell something on any website, you can have Amazon ship it for you to your customers
Even though not eBay, because eBay and April last year, said not to use Amazon as a supplier cause obviously eBay doesn’t want things rocking up in Amazon boxes. Shareholders of eBay don’t like that. They’ll manage customer service and returns for Amazon orders. Now, you can also do the same thing with eBay and your own website.
Third Party Logistics company
So, Amazon FBA has been getting a lot of media light lately. But we’ve been doing the same thing with Amazon our website for years. And basically what you do is you’ve got products, you just send them to a three pier which is called a Third Party Logistics company. There’s many of these around. Here’s some of the ones in Australia, and not only is in the US for our US operations, web logistics are in Buffalo, New York, you do the same thing. You just send it to them, and they warehouse it and when it sells, you can just get them to send it. And you’re fully automated.
We have automated software, sends them out themselves
So we have automated software, sends them out themselves, it automatically fades to like web logistics, feeds into their computer and sends what’s called a CSV document and they pick it, pack it and ship it. All fully automated just like Amazon FBA.
– [Man] And charges, charges.
– Charges. With all of these you’ve got to negotiate. But just to give you just a rough figure, a one point pallet, which is one point five meters wide, by one point five high, roughly two dollars 50 a week to hold it to warehouse it.
There’s a picking fee, packing fee and of course a shipping fee
Then there’s a picking fee, packing fee and of course a shipping fee. But, when you look at all the other fees, so you might think, oh, that’s a bit of money, but if you’ve got your own warehouse you’re paying your lease, your warehouse or if you own it whatever. They’ve also got all your staff, you got security. You’ve got with staff workers compensation, superannuation, it just goes on, you’re fine service, the bills go on and on. So, if I work for one of these guys, and I was trying to get your business, I’ll be saying, we’ll save you all that money cause you don’t have any staff or a warehouse.
We have really good rates with the courier companies
Plus, we have really good rates with the courier companies, probably better than what you’ve got. Cause they’ve got accounts with like DHL, Australia, Paris, all those companies, and they get really good rates cause they’re sending so much stuff so it offsets it. So you’re going to do all the math to look at it. But again, it’s very, very reasonable.
– [Man] And is there a minimum requirement that you have to have one product, two products?
– Not normally. No you just got to negotiate with them all. Like for instance, Apple uses Ship Wire to ship iPhones.
Apple uses Ship Wire to ship iPhones
So, these are the top ones which you use the most, and I highly recommend you use one in New South Wales, cause New South Wales as in Sydney as in Western Sydney is kind of the hub, the center. So you’ve Brisbane above, of course you got the Sydney population plus Melbourne below. If you use someone in Western Sydney the rents are much lower, than obviously someone near the coast. And like Coghlan and Next Logistics they come up a lot, very popular.
Okay, private labeling is simply this. You slap your label on a product. I’m going to talk more about private labeling tonight, but that’s basically what it is. You take a product and you stick your own private label onto it. Many companies do it. Like you know Bunnings got Ozito range and it’s probably a big thing. And I’m going to show you a way to do it without spending a fortune. Also, one that comes up a lot is what do you sell? When you start researching, what is research, what products? And there’s a list here you can download for free of 1000 keywords, what we call power keywords. So if you’re stuck for product or ideas, I’ll refer back to this later, there’s a link there you can download 1000 keywords for free.
Shopify is another thing that gets talked about a lot
Okay, so Shopify is another thing that gets talked about a lot. But what is Shopify? Shopify is many things. The first thing it gets used a lot for E-run website. So if you want to have your own website, you can sign up for Shopify for less than 30 bucks a month. You choose a store, a theme, and bingo you can start listing your products and help mine your own website. You can also feed to many other places including Facebook, eBay, Amazon, etcetera. So you know all your products and feed to there. Now, Shopify is not the only thing you can do this with.
You can do it with many other programs like we use Magento, as well as seeking is WooCommerce
You can do it with many other programs like we use Magento, as well as seeking is WooCommerce, there’s a whole stack of them. So Shopify is not the only one that can do this, Neato. So, with all these you can sell on your own independent website, Facebook, eBay, Amazon, Instagram. There’s other things like comparison shopping engines like GetPrice, Shopping.com etcetera. It’ll feed to all these ones. Now, another thing comes up a lot is Alibaba and AliExpress. If you want to I’m going to talk more about this tonight.
Alibaba is a place you can source products from
But, just to get it off the table is Alibaba is a place you can source products from. So when you find a product, you’re going to find these. You just go to Alibaba, type it in, hit search, bingo you’ll find a supplier somewhere on the planet that manufactures these or you’ll probably find 10 or 100 of them. AliExpress is owned by Alibaba, which is owned by Jack Ma, and that’s a retail arm. So, you can if you want to buy one of these, you go to AliExpress cause its retail, you pay more money. If you want to buy 30 of these, 50 or 100 or 1000 of these, you go to Alibaba. I’ll talk more about it tonight. So, the question always comes up, I get this all the time, even this afternoon.
Should you sell on eBay, Amazon or you’re own independent website?
Please leave me a comment below and let me know what you think.
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