The vehicle for multiple 7-figure brands?

One 7-figure brand or multiple?

Is it better to focus on a single brand or to have multiple successful brands?

The argument can probably be made for either. But the truth is that I have a hard time focusing sometimes.

So today I want to show you how you can replicated building 7-figure brands over and over.

The vehicle is more important than the driver:

Here’s a crazy stat: Only about 6 – 8% percent of all businesses across the US ever hit 7-figures!

This means that somewhere around 92%+ of companies never reach the million-dollar mark at all.

(Get this – we have had over 100 million-dollar sellers inside the Amazon Seller Tribe alone!!)

That’s why I love the saying that “The opportunity vehicle is more important than the driver.”

For example, an average Subway franchise has revenue of about $500,000 to $600,000 annually. You need a lot of capital to get started with them and depending on your experience, they can be a challenge to operate.

On the other hand, to get started with Amazon you really don’t need a ton of capital. In fact, I know a ton of sellers who got started with under $1,000 in seed money and were able to snowball their profits over time.

Creating multiple 7-figure brands:

Since starting Amazon, I’ve created multiple 7-figure brands. Here’s some of the things needed:

• Money – You need to have the funds available to start a brand. I’ve had debt problems in the past, so I’m personally bootstrapping my brands and starting with money earned (my first brands were funded through my Amazon arbitrage efforts). When starting an arbitrage business you only need a few hundred (or less). When starting a brand I recommend at least $5k – $10k. Once you hit your first successful business/brand, it is much easier to generate the cash needed to start a new one.
• Product Selection – Don’t fall in the trap of picking a product just because you think it’s a good idea. You need to make sure the demand is there and that you understand keyword search on Amazon. All the successful brands I have had, I spent a huge amount of time and energy making sure my first product selected was good.
• Own a niche – This isn’t 100% necessary, but if you are starting on a budget like I always have, you want to narrow in on a niche and own it. While it is VERY unlikely you will ever make the best sports & outdoors brand on Amazon, you could own a very narrow niche of that category. Own your niche first, get to 7-figures, and then expand out.

In the past, I would start brands and kind of ‘stop’ at a certain point (again, usually because I lost focus).

But lately Nate and I have been all-in on our main brand that has reached the 8-figure point.

That being said, I am almost 100% I will start another brand in the future… I just can’t help myself .

So whether you are trying to get your first brand going or looking at starting the next one…

You can hear more about what we look for when starting a brand in our latest released podcast episode below: