Published Date: February 02, 2022, at 10:05 AM
In Today’s Roundup:
- The Big Idea: From Hero To Zero: Losing a $10,000,000 Amazon Deal
- Amazon Seller Forum Trends: Bye Bye Vlad!
- Tribe Spotlight of the Week: $1,000,000 in a year with the right partners.
THE BIG IDEA
From Hero To Zero!
If you’ve been following our story, you may have heard I sold a small brand to an Amazon aggregator last year.
The experience was good overall and I was able to walk away with a mid 6-figure exit. It was great!
But I was recently reminded that not all deals go so smoothly…
I have a friend who was looking to sell his Amazon brand. He had worked hard on it for a few years and entered an LOI (letter of intent) with a buyer to sell the brand for $10,000,000!
As you can imagine, my friend was super excited – this is life-changing money! The buyer was a fairly large aggregator who made all the typical promises to close extremely fast and be better than the other potential buyers who had made offers.
But shortly after signing the LOI…things went bad. The due diligence period drug on for weeks. The buyer had a complicated financing approval process and the APA agreement got tied up in legal negotiations.
At the end of months of hard work and deliberations… the deal fell through.
My friend was crushed. He had spent literally tens of thousands of dollars in time and fees working on the deal and in the end it was a complete waste of time.
Well, maybe not completely. I always like to think that any situation can turn into a learning opportunity. I think my friend learned a lot from the experience, and thankfully he passed a lot of that knowledge on to me as well. There are a few things you can do to avoid this scenario if you’re planning to sell your own brand in the future.
And, if you want to find out what they are, I’m inviting you to listen to our latest podcast episode as Nate and I discuss what you can do to make your future deal go smoothly.
AMAZON SELLER FORUM TRENDS
Bye Bye Vlad!
Is Amazon Removing Items Related To Russia and Vladimir Putin?
There is chatter in the Amazon forums that items related to Russia might be getting removed.
Many big tech companies have been pulling their services from Russia, and getting certain items off the platform might be Amazon’s way of participating. While we can’t find any confirmed evidence from Amazon that certain items are being targeted, there seems to be a trend emerging.
What are your thoughts on this? Share them by replying to this email.
TRIBE SPOTLIGHT OF THE WEEK
Creating a 7-figure Amazon Business By Partnering With The Right People!
Having a hard time building a 7-figure Amazon business?
You might be missing the right partner.
In the Tribe Spotlight of the week, we feature the story of Matt who built his 7-figure Amazon business in 2022 by partnering with the right people.
Matt started his Amazon business along with his partner Joe. They were supported by their wives Jeap and Kelly. By utilizing each of their strengths, they were able to cross the $1,000,000 mark in just over a year!
If you’re struggling in your business now, you may want to consider if you are missing the right partnerships to get the momentum going.
You can see the results from Matt and his partner’s hard work:
As you can see, the Amazon Seller Tribe is more than just teaching how to sell on Amazon. It’s about helping each other become better at selling Amazon, and meeting like-minded people who will be there with you through ups and downs.
Inside, you’ll learn the struggles, challenges, and problems that each member had to overcome to reach their goal.
You’ll also learn the right mindset and habits you need to grow your business.
The best part about this amazing group of people is that they’ll be the first ones to push you to take action immediately.
So, if you are looking for a place to find the right people to work with or to learn from, then the Amazon Seller Tribe is definitely the perfect fit for you.
Want to see their story firsthand? Or perhaps make it your own? You can start a free trial to the Tribe today:
AMAZING FREEDOM PODCAST SPOTLIGHT
How do you lose $10,000,000 on Amazon?
Well, if you want to find out how it happened, I’m inviting you to listen to our full podcast episode as Nate and I discuss the story of how someone we know lost a $10M amazon deal.
PLUS! We’ll discuss how you can avoid it from ever happening to you.
So, if you’re curious to find out what happened, click the link below to listen to our full discussion.
- [45:50 to 46:10] Scale your team as your Amazon brand grows!
- [47:09 to 47:39] Join our coaching programs at Amazon Seller Tribe!
P.S. Can you do me a quick favor? Please leave feedback on our Apple Podcast to promote it. We will surely appreciate it if you can leave an amazing comment so more people can see it
MEME OF THE WEEK
Invite Your Friends and Get Rewarded
Click the button below to join our referral campaign and invite your friend to win our prizes!