*MUST WATCH* How to Make Money On Amazon FBA – With , Will Tjernlund & Brian Burt

[UltraVid id=119 ]I don’t like this very much it’s a little cold it’s a little cold over here for our your to freeze got to learn how to laugh at a coal if you live in Minnesota detection tuned on dreams a nightmare with brown hair and hey guys Brian and we’re in the Twin Cities here we’re visiting will tear lend will is a ten million dollar a year seller on Amazon we’re here to visit with him we’re going to do a quick video for you and figure out you know why is the secret behind this success we want to share that with you and we’ll wants to share with you he is a wealth of knowledge so you absolutely want to pay attention this video hopefully we can get in front of a whiteboard and we can do some we could script some things out draw them out for you so you really get a good idea of what’s happening but other than that we’re just here a beautiful restaurant on the marathon in Sun City we’re in st. Paul so I’ve never been here it’s my first time is cold dude it is freaking cold but it’s going to be it’s gonna be a fun time we’re going to learn a lot and hopefully share that with you so join us and shoot fun member they just a crush more like an affair my sweet little crutch she’s just too much to take what’s up guys it’s Brian we’re here without real shearling and well as a ten million dollar a year Amazon seller you may have heard him on some of my webinars for good friends we came up here to st. Paul Minnesota pochi book hotel oh really we are technically in White Bear Lake now at this moment this used to be where everyone’s default had their lake homes a hundred years ago but now it’s a kind with your everyday normal subgroup yeah yeah and Will’s got a really kick-ass apartment so we thought why not film he’s got 120 inch projection screen in the back here that he got off of Amazon of course yeah oh yeah I think help by to share how crazy the fulfillment fees must be that’s the kind of lens and you look at everything nowadays yeah absolutely so we’re announcing a few questions you know I put out a survey in commas on that’s the Facebook group if you guys are not apart be commas on go out and to a group who like it but we put out a poll and we asked you you know if we were going to go meet with will what would you like us to act well and a lot of the questions came in one of the top questions was you know wilt you had to start over again from zero from from the ground up what would you do it’s um a pretty good question and it’s a question I get a lot because obviously everyone’s kind of wondering since I’ve made probably all the mistakes you can how can they avoid them and one of the best things I think you could do would be try to get as big a catalog as possible that’s merchant fulfilled things that you can dropship get a catalog will say ten thousand different items that you can dropship markups a twenty percent or something like that and you don’t have to sell a lot of units start getting your feet wet right out the back from those ten thousand if excused it wouldn’t be that weird for you to sell five total units a day merchant fulfilled and right there you can start building up capital quickly and start really getting serious while your Amazon business well during the beginner steps okay that’s awesome so let’s say you know something out there listening right now watching this video they’ve got zero dollars to their name but they really love the getting model will come to go about reusing those first dollars there’s a couple things you can do there’s always the kind of rich uncle approach to the cake where you go and kind of ask around families and friends and I put together a nice proposal saying hey this is my plan is I’m gonna spend the capital base bar they borrow and steal yeah this how fast you get a bad soup I promise you’ll get it back please oh but I another way you can do it is that um even at my level I still get a lot of job requests on up work comp for me to work for them and this is that like $400 an hour level and so there’s plenty of people that are trying to hire it the $25 an hour level that they want American to know English well as a first language because they want something to write really really good amazoness things and this would be a great way for you to learn the ropes get comfortable selling on Amazon using someone else’s money someone else’s time well you build up your own big pool so what type of jobs would those be so let’s say you go up work for maybe a freelancer so if you guys are familiar freelancer and upward comm you know let’s say you go out there and you list your services what type of services um could you list or what type of enquiries could you answer there’s a lot of people who want help with listings there’s a lot of people where catalogs and you want someone to upload on the pictures right really Stellar’s um descriptions and make really good keyword focused bullet points and so that’s a good place to start I’ve also seen a bunch of different people offer jobs where they’re just looking for someone just kind of basically manage their account they’re basically looking for someone just start emailing to make sure that inventory doesn’t run out make sure that customer service emails get answered make sure their account basically doesn’t blow up that’s a really good way to go now I know you mentioned a lot and we had a webinar about this thanks for being on you never liked and you talked a lot about Kickstarter you know can you explain to the audience what Kickstarter is and and maybe how to raise capital that way yeah so taste are basically is a crowdsourcing website where you present a new unique product to the world and try to raise money through a bunch of different rewards the rewards can come in increments of $1 $5 up to $10,000 and basically is that you set a goal that you want to raise safe forty thousand dollars and if you can raise that goal you get to choose to money but if you don’t get up to that forty thousand dollars all them everyone gets refunded and all the money is putting back to all your customers pockets so it’s a great way to test the market and raise your first kind of seed fund for your private label company all in one go yeah I love that idea guys it’s a crowd sourcing idea and it’s akin to going to your rich uncle your mom dad because in your best friend and asking them all to invest in your company but rather than doing that what you’re doing is you’re going out you’re asking the interwebs the Internet right into it to help you fund your goal and my recommendation on that real recommendation on that as well a week where like-minded on this is to you know got afraid of really great video you know you don’t have to have professional video equipment to make this happen you know you’ve got an iPhone you’ve got a smartphone or you know somebody that does you can borrow that you can go out and it’s really simple editing you’ll be able to create a great video good copywriting you know put some effort into your listing on Kickstarter and you’ll be able to need your goal I mean how much would you say and then I took this question all the time I know you do – how much would you say better minimum people need to start with to get going on Amazon oh it really depends because it depends on two things are do you have a full-time job or are you just wanting to this be your only income stream if you want this to be your only income stream you’re probably going to need about $50,000 to start off or something like that because you’re gonna need to start making money instantly but if you have another full-time job your happiness on a side a couple brand you do it you’ll you’ll be able to start seeing some returns right away start selling start seeing how the system works it’ll kind of be able to decide then if you should sink more money to your business or if you should try something else but if you’re going to depend on this it’s your only income stream you got to start off with a ton of money because it’s very hard to pay yourself and your or your business at the same time yeah and you know we were talking about this last night but I never and I started quite a few businesses so successful so I’m not successful and I’ve never seen a business take off like Amazon took off for me in eight months you went from zero to over a hundred thousand dollars over a hundred fifty thousand dollars a month and you know I don’t see that type of return anywhere else in the market really save a lot of people out there though I love classic cars I don’t see the classic cars the only place I’ve seen that type of return is Amazon yeah it’s pretty crazy how greedy a lot Amazon sellers are when I tell them that a product maybe as a 15 percent margin niggle 15 percent that’s it something it’s like well that’s reoccurring say four or five times a year good luck trying to get that investment anywhere else we’d be lucky at the ESPY average is 11 percent 11 yeah and so it’s just an X once a year not compounding for x years so it’s kind of thing we’re used to always um think of your Amazon account not as just a bunch of different products but as an overall cash flow machine and how much money you’re putting in how much money you’re getting out and how quickly absolutely guys there’s a rule of thumb and well I don’t know if this is your strategy I’ve actually never talking about this but as a rule of thumb I like to get at least 100 percent ROI so let’s say my products cost me five dollars I want your 10 out so in profit not evident its profit margin so do you agree with Audrey several kind of it really depends – I’ve had some like super small simple dumb products that required no customer service and let’s say it’s a lot picking syrup and I’d say I make two bucks out of each one but I can sell 30 a day and no one ever bugs me about returns or anything like that so it’s like I’m just going to keep just ito that supplier once every six months because it doesn’t have a bunch of capital it doesn’t take a bunch of space at Amazon it’s something that no problem so it’s for me is that I can’t have any good rules of thumb for the most part because opportunities just arise and I take them right and you know something’s really interesting about little guys is last night we talked a lot we said a Starbucks for 3-4 hours just I feel like I could talk to you for three and why it’s all famous top sellers you know excited yeah and so I finally someone good to me right yeah it’s like because we sit behind our computer and we’re you know we’re kind of lonely we got that phones on so it’s nice to get together and if you guys highly recommend you guys if you’re you know in your in your city you start a master on or meet up with people it’s just I’ve learned so much from well and it’s more than that it’s an inspiration but you know and you mentioned last night at Starbucks that you know you try to think outside the box you know a lot in terms of you know there’s a lot of what people are doing the FDA community um and and you try to try to stray away from that can you explain that a little bit yeah it’s basically I try to read anything and listen to anything that’s not a Mazon focus and then apply outside principles to Amazon sure and so a prime example of this is I’m abused before it’s the book lean startup it’s written by Eric Ries and basically the concept is launch as fast as you can so you can either failure to succeed as fast you can collect the information that your customers gave you make iterations and then a lot to get after that and it’s continually launched quickly and kind of change as the market changes and this is something that I saw no one doing in the Amazon field and I started buying a ton of products from Aliexpress calm and flipping them from there and I my lead times with 10 days I get super quick in and out test product and using concept like that outside of the Amazon world and using them inside the Amazon world has really been beneficial for me yeah guys and I think that that really is it’s a bigger concept than just Amazon and then you can apply that to almost I’m said anything wait a minute she had a lean start I was just listening to them on a podcast the author and he was saying that he’s been working with GM he’s been working with Boeing and so it acts as a startup thing it’s not just a game it’s a business I think these are the kind of concepts that if you learn all these different business concepts you can apply them to him as a business really flourish yeah and I couldn’t agree more with you and thinking creatively guys is one of the most important things you can do both in Amazon and outside of it was on in terms of your business but specifically inside of Amazon I mean I know that’s why you’re watching this video you know think creatively you know what do you know the most about what’s personally what’s your biggest pool of knowledge personally for you you’ll think about that take some time to write down the things that you’re into you know what have you’ve done is a hobby that you can you can talk about for hours and hours and hours those are the intricacies that’ll set you apart those are the creative aspects that most people don’t know so you’ll be able to find products and understand the demographic need to fulfill on Amazon and that’s where you really find the gold lines oh yeah well we were talking about it yesterday it’s it’s basically just finding gaps in the market and easiest way to find gaps in the market is when you’re super into a niche because you don’t know abettor than anyone you see something you go wow everyone in their quest tree encircles gets annoyed that their horse harness we’ve made out of this leather not this leather handle ten Amazon’s no one’s held it out of this leather this is going to be a goal of mine no one can know that unless you’re hyper focused in the nation and so you gotta use every competitive advantage you have in life to the fullest there you go seats for horses yeah done go do it Posada before the whole equestrian niche I guarantee it’s not saturated and I guarantee those people spend money like crazy oh absolutely I mean let’s talk about a few but let’s rattle off a few just to get your brain moving we like coffee oh yeah golf it’s a great one I was looking up like high-end ropes for yachts taiyaki got ya coating welding sanam Baloch can anything go wrong uncle yeah but I’m saying it’s like trendline builds computers he knows all about the different parts on the computer right I have no idea what that is he makes a killing on Amazon right now so it really dig deep into what you know about and what you’re passionate about because you’re gonna have more in-depth knowledge and more caring knowledge about you know that industry or that that world right that community then most people would and that’s where you find the golden nuggets right that’s really when you mine out the gold I mean I don’t rattle off a few real good cuz I I know I if I had unlimited capital I’d go after 20 different yeah you know they said okay but you you were saying something about God Yahweh I got him or any unconventional niche that doesn’t really seem like an e-commerce site niche because everything’s gonna become an econ it depends but there’s always physical products oh yeah like your golf RV equestrian bones um saline um you sit there and you can go up yeah from things of your pet Aguada different LaserJet roster days yoga pilates you know there’s a lot of health if you’re in health you think could drill down to is the idea guys to start at the top right think be like a funnel so we’ve got health you’ve got finance you’ve got education these Campos what’s inside of those niches right so what you uncover something inside of help you can get into say you tropics right so supplements then you can break down into trophies or you can break it down to a branch chain and acids or anything like that that’s what you really want to do but start with your passion would you agree yeah yeah I do that I just need to try to get to the kind of psychology of a buyer really think hey what kind of store may not have within 40 miles of them but they have to order mine oh look here it’s great that’s a great tip no one I mean if I’m in here in st. Paul I want to buy a bunch of scuba gear I’m going to drive 300 miles to find the closest scuba shop so I have to work because the lake is frozen over right yeah where’s there’s houses on the lake or ice fishing up there so yeah as we speak uh but uh yeah so it takes something like that you gotta kind of think of like why they don’t personally buy that item on life because they can’t get it in their own market same with all these kind of niches within a niche and so if you go after the top-selling top product name azan you’re going to have the top competition and so if you go after these kind of lower niches it’s a lot easier to sell a thousand products once a day and sell one five thousand times today yeah say that again it’s a lot easier to sell a thousand products once a day and this how one product a thousand times I love it love that so that’s great man and that’s part of what I love these conversations because you mean to shoot to the moon and come right back you know but let’s let’s talk a little bit about you know okay we’ve gone over what would you do with you have zero dollars you got to start all over we’ve kind of covered that let’s talk about what would you do let’s say you’re out one of our listeners or viewers out there does have some capital to invest we’re not talking one or two thousand dollars let’s say ten thousand dollars to invest now at that stage of the game what would you recommend how do you how do you proceed there to get into F yet so my um my mindset is kind of been changing on the last couple months about this and six months ago if you were to ask you this I would have said just get right in the private labeling get down to business right off the bat but now I kind of have the approach of let’s use what other people have that’s working a little bit more and so on something they can do there’s a ton of companies in the US that do wonder about fifty million dollars a year in sales that if you called them up and said I want to do a seventy five hundred dollar purchase order right on the spot you are a sales industry and he is going to sell to you in a second yeah and at that point at a disco you get their entire catalog you throw it all up on their purchase filled you source the products that seem like they did hot seller from asking the rap hey what sells the best and then from there as you start selling other people’s products that you know sell find gaps in the market from there and then private label those opportunities and so the private label still comes but kind of play with hosted money at first with products ignored and sell their brand name before you really try to long get into private labeling so this is kind of like a higher level version of trying to start with retail arbitrage before your private label this is more like signing contracts is really kind of like starting a real business yeah and you know I think that so start again that goes back to real thinking outside of the box a lot of us out there in the private label game we want to go to Alibaba Alibaba College stress concerns but mostly Alibaba and private label products from there you know it’s so smart to go out to a larger company that you know the brand name is recognition they’ve spent years or hundreds of years building their Reming it’s going to shell you just have to buy the product from them in a discount now you know your margins are they’re going to be as high on that type of a translation but if you really depends if you can find some niches on my brother and I sold a bunch of different fireplace accessories and it’s like that was a completely wide open niche we can make killer march on that kind of stuff and so we get tired of any deal we want to order make margin because no one else is there it’s other ones where we know we don’t make as much harder off the back we don’t as it sells more we’re going to buy for we’re to get lower prices and like almost everything on Amazon the rich get richer good morning by the higher market you get the more you buy the more you sell but how you range it’s all this kind of stuff so momentum is everything right and that’s why it’s so important to reinvest too now if you’re getting in full time right now you need to pull salary you know by all means to keep your lights on but if you can afford to reinvest as much as possible throw it back into your Amazon account because your products because that’s the only way to grow in life and is by expanding there’s you 100% it’s kind of thing before you ever quit your job ask yourself is time going to make my business grow or it’s a capital because if it’s capital putting your jobs not that’s the exact opposite you do but if it’s time is really going to be putting the time in its going to grow your business then yeah getaway for your job because if you’re losing $200 an hour every time you’re at your 9 to 5 job and do probably doesn’t make sense to be there hey guys this is a really good point and I kind of wanna come away from that but you brilliant but here’s the thing if you’re if you’re out there and you’re thinking should I go full-time in an FBA right now and you don’t have the capital you know what would you recommend some people have it perfectly set up sometimes where they go i or these ten products from this supplier these 10 products also 30 units a day i’m making a killing I want to try the other 100 products they have it’s like go get’em all Rafic the perfect opportunity where you know exactly all your can expand you’re already able to ship the supplier you’re enough cash for coming yet it’s like everything perfectly in place but if you’re saying I want to get started on Amazon I’m gonna go take a bone out it’s like I would probably try to do some baby steps first and egg to think of um alone almost as a five-figure problem where do at least $10,000 portal and sales before you even think about getting involved because at that point you’re sold enough that you’re kind of experience everything wants customer service wise fulfillment wise and you’ll have a real clear picture of what you’re doing that point for and I think that you know there’s two things that are profitable in this world having capital or having knowledge you know and if you don’t have the capital at first or if you can’t follow five or longer if you don’t have the rich uncle Jerry it’s gonna loan you the money you know go out and build your knowledge base right but so your sandwich let’s bring it back you’re saying with ten thousand dollars you would look for a wholesale opportunity with a larger supplier yeah it’s a yeah I didn’t do these things where it’s got even these larger suppliers it’s even um stuff where anything is not like an obvious name brand where you see they’re advertised on my TV you can probably contact them so you’re not gonna be able to contact Sony you’re not gonna be able to contact after but any smaller company even like say someone like ah woo stop night this is a decent chance you might build it it’s someone on the phone there who will tell you $7,000 max right right like any of you sit there and it’s all about just kind of faking it till you make it you said hey I’m the Amazon expert I’m the person you want to talk to I’m going to sell it the crap out of your stuff I want to do a test or right now I’ll send you $7,000 later today what kind of deal when we work out and you know no such enemy no that’s such an important point fake it till you make it may sound like a little a little slimy or you know but it’s not nice it’s really it’s really a – it’s a mantra it’s a way to get to become successful the funniest thing I think Tony Robbins said this is if you act like you have confidence eventually you have confidence and so that’s the same way you can represent yourselves with these larger suppliers out there you need to say the words I and we’ll just set it I and the Amazon expert I’m an expert on Amazon say or it’s even as simple as what do I do to become a distributor not can I become a distribute ask for the business yeah I’m going to become a distributor what people were do you need from me yeah that kind of thing snaps happy I got the pre pre pleased to have done business with me you know if you want you would want to apply this vacuum would you will yeah yeah yeah so I think you have to point you know and that’s a fantastic kind of segue into you know let’s say you’ve moved past them you know your usage you got a nice deal you build your capital or you starting fresh into FBA and you’ve got a larger dollar amount you’ve got fifty thousand a hundred thousand dollars to invest in to have a really smart decision by the way because you’re never going to get the return that you get anywhere else um how much go about doing that if you don’t have a bigger dollar level what would you do is very very similar to the way I do with $10,000 but you can grow it a lot quicker speed and you can pivot your other wholesale accounts off each other so you start selling someone who sells you start selling will stop knives and you go in contact Ginsu and say hey I’m a huge knife seller I sell stuff like move stop and all other brands went with a High Line all my customers are already working for your competition yeah exactly my customers keep asking if they can get in tonight and I just want to give my customer the best experience possible so can I add your product line to my RT robust econ Empire and that point they go yeah sure you’re a sound Ginsu I mean if you’re is how you stop you must be good enough for us to and then then you go okay to the next knife supplier I sell into a new stuff you wanna you want us to sell yours to we only sell the best right and then you just kind of work your way down there and then you notice that they only make a tenant creeper and you notice that people keep leaving reviews on your wholesale products saying hey I wish this cleaver was a little smaller and so then you go and private label an 8-inch one and so this way you kind of everything builds up each other like a big spider run sure now let me ask good questions which kind of I know a lot of people are probably thank you you’ve got the under fifty thousand dollars to invest you go out and you say I’m ready set for boost off you know I’d love to sell in your your Ginsu and they say okay great proven or how much of your sales there how do I don’t you feel the budget in like that it’s really funny I’ve worked with over a hundred different wholesale suppliers and I’ve never gotten that question I’ve never never they go prove it never they go hey well what do you really do they it’s kind of thing where money talks if you say I got the money I’m ready you spend it today I’m ready to drop fifty thousand dollars yeah shoulda know exactly they don’t start going oh I don’t want your money sir whoa you prove it to me before you give me this huge Commission check like they are asking any questions and then when you come back to it’s later go on those twenty five thousand dollars worth of it I’ve had it before where guys this is kind of confusing but companies have it where they don’t want me some of your stuff on Amazon but I have a Salesman inside won’t give you so much money through commissions that knows I’m selling on Amazon that’ll hide me from their boss in fact um it’s really crazy the kind of relationships you can build these companies even when you’re just you seem like you’re just kind of a lowly small Amazon stubborn because they only hear you through phone they only talk to you through email the rest of the picture that they build above you and like what they kind of em see us is whatever you create and so really kind of like talking strong tones talk like you run a place and they’ll believe so you know and that does kind of give to the sell side of things guys you want to stick Alibaba I mean that’s a very proven successful business model if you’re more comfortable doing that – I’m not to point my career where I’m not going to tell anybody to do anything differently than what they want to do it’s up to you to make the decision to be successful it really is you know when you’ve got zero dollars and you’re going on Kickstarter or you’re asking uncle Jerry rich uncle Jerry remember some money or if you’ve got 10,000 to invest or if you’ve got fifty a hundred thousand a million you know that those are all pretty much around the same concept yeah I did you have to make the decision to be successful I did coaching for a woman who did $10,000 in sales in her very first month and that had zero to do with me ahead and do all with her just taking action over and over and over again and every time she’d email me she would say hey just you know I did XYZ hooked up these different wholesale accounts these three samples are on her way from China and down these two Volvos and then she emailed me the next day okay the samples came the logos look good I’m getting those printed on the boxes she was never doing their typical thing of asking for permission that’s so uncommon I get where’s should I do this should I do that it’s you’re just asking for permission you’re not asking for an opinion if you’re asking for an opinion I’ll give you my opinion but if you’re asking for permission just take action ready to choice really is your choice let’s awesome appreciate it I’m considered being a hair to say to have my set rules I’ve gotta set its place here it’s a beautiful spot we say ball or nothing right there like white bar on a border right right right on the border but it’s been really fun it’s negative five negative seven degrees here today so it’s been a cold one but it’s definitely good educational so then I really can’t thank you enough yeah I forgot every possible thing hey guys how awesome is Will Wright he’s just a wealth of knowledge and I hope you learned a lot from Whalen myself in this little video you know we’re just having fun and we’re trying to share you share the knowledge in the community and you know I think the gist of this trip we’re heading back to the airport right now and the gist of this trip is really to think creatively you know we don’t give you gained a lot of knowledge I want to do no matter what level you’re at in your FBA career if you’ve got zero dollars to start with or if you’re right around the ten thousand dollar mark or even 50 or 75 or a hundred thousand dollars you know there’s lots of different strategies that can get into so you know hopefully you picked up something and we had a great time up here in Minnesota you say Paul and if you look down it’s about zero degrees exactly so well we had a good time we hope you learned a lot we’re about to return the rental car get back on the airplane heading back to Chicago but overall I want to thank you for watching this video more to come and dive you have any questions you know just leave them in the comments and we’ll and I and Bobby will all be in there answering those questions for you so I hope everyone had a great weekend we’ll talk to you soon they just crush more like and all out