Published Date: February 02, 2022, at 10:05 AM
- The Big Idea: The Harsh Truth About Growing An Amazon Business to $10,000,000.
- Tribe Spotlight of the Week: The Power Of Consistent Action
- Meme of the Week
THE BIG IDEA
The Reality Of Building A $10,000,000 Amazon Business
When I first started selling on Amazon, it was a RUSH!
Being able to flip products and make cash selling online seemed like a dream…
I was loving the hustle and thrill of finding great products (it was fun!)
Are you still there?
I’ll admit, I still get a rush whenever I am sourcing for new product opportunities or just talking about Amazon in general.
And for my first brand that I created in 2015 and sold in 2021, I actually hit the 7-figure mark with 0 employees and 0 virtual assistants (it probably wasn’t smart but I am pretty proud of that!).
But during that time, the famous book, “The E-myth” had become a reality for me. I realized I was just working IN my business and not ON my business – If I stopped working my Amazon account came to a crawl.
So when Nate and I created our latest brand a few years ago, I knew it would have to be different.
We did what we always recommend – we bootstrapped at first and did as much as possible ourselves while we got the business running. (no loans and no outside funding).
When our first product launched it got immediate traction and we personally took dozens of customer service phone calls!
But we knew it was time to start building our team.
Thankfully Nate is an expert at hiring and managing virtual assistants (he has hired over 250 between our portfolio of brands the past 6 years!)
Order Of Hiring
If you are building a brand on Amazon, here’s the order you may want to consider hiring for:
- Customer Service
- Sales Channel Management (Amazon/Shopify, etc.)
- Supplier communications (especially if the time zone difference is brutal on your schedule)
- Amazon PPC
- Everything else (and typically it’s better to freelance/outsource it until you really need to bring it in-house)
From $1,000,000 to $10,000,000
Our sales went from $1,000,000 to $10,000,000 crazy fast as our brand took off and we added over 100 skus in 2021.
All that growth created major bottlenecks and required a lot of help!
So there was a period of just a few months where we went from 3 VA’s to over 25!
All that growth in sales and team members required a lot of management.
And in our latest podcast we break down exactly what was happening during this crazy period.
You can click the link below to listen to our latest podcast episode:
TRIBE SPOTLIGHT OF THE WEEK:
THE POWER OF CONSISTENCY:
HOW THIS AMAZON TRIBE SELLER MEMBER GREW HIS BUSINESS BY CONSISTENTLY TAKING SMALL ACTION
I love this story about Jeff because I’ve know him for years now (not Jeff Bezos, another Jeff 😀).
Jeff had a lot of unfortunate challenges in September and October of 2021. He lost his shopper and remote prep shipper in September. Then, he had to spend a huge chunk of October and November taking care of his parents who were hit with Covid.
Those were really awful months for him. And for most people, these are valid reasons to give up on their dreams.
But Jeff didn’t give up. Check this out:
As you can see, having a group of people to help you grow is a huge benefit. This is exactly what the Amazon Sellers Tribe is all about. This amazing community has helped hundreds of people reach their Amazon business goal by pushing them to consistently take action.
Just like Jeff, you can experience the same kind of help that will grow your business 10x or even 100x in just a short period of time, even if you only take small steps.
After all, slow progress is still progress.
If you want to be like Jeff and build your dream Amazon business, you can start by joining the Amazon Sellers Tribe today. Click the link below to learn more:
TRIBE COACHING IS STILL OPEN
If you’re looking for ways to scale your business or simply build your first Amazon store, then Tribe 7 is definitely for you.
Tribe 7 is the 7th coaching round in our Amazon Seller Tribe led by Garry Ray and Gaye Lisby.
This is 100% the best way to get started selling on Amazon.
And with over 100 (now) million-dollar sellers going through Tribe Coaching… the results are unlike anything we’ve ever seen in the industry.
If you are ready to jump into Amazon… or know someone who keeps asking you how to get started.
This is an opportunity you shouldn’t miss!
Tribe 7 is still open for enrollment up until February 15th. Join today to become a part of the amazing group that has helped hundreds of successful Amazon Sellers. Click the link below to be one of them.
AMAZING FREEDOM PODCAST SPOTLIGHT
The 8-figure Amazon Business Conundrum
Have you always dreamed of reaching 7-figures and beyond in your Amazon business?
You’re not alone!
We had a goal of hitting 8-figures but knew we couldn’t do it alone…
So we went on a hiring spree with the goal of getting specialists to help us hit $10,000,000.
Listen to what we did on our latest podcast episode:
- [5:47 to 6:37] My life took a dramatic change because of Amazon!
- [17:03 to 17:36] My life took a dramatic change because of Amazon!
- [23:12 to 23:27] Lead your team with respect!
Just Keep It Simple – Simplicity is Sometimes Perfect!
Sometimes, you don’t need an overcomplicated storefront just to make more sales. All you need is a good, simple storefront to get started.
Check this simple, yet eye-catching storefront from one of the business coffee product sellers in Amazon, Nespresso! We love how its simple design is pleasing in the eye and easy to navigate.
So, if you need an inspiration, go check their page out.
IN CASED YOU MISSED IT
(Here’s a quick roundup of our best reads from the last few weeks)
💵Amazon Fee Changes for January 18, 2022
📊 The $10,000,000 Brand Planning for 2022
📈Starting Your Amazon Business With Just $500
MEME OF THE WEEK
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