Here’s an important update: My FB friend, Jonathan sent me this link. It clearly shows two sides to using the Fulfillment By Amazon program. As with any business, you need to explore all aspects. As we say on the Internet, YMMV.
I’ve recommended my blogging friend Pat Flynn’s work many times before. Today Pat has something really outstanding that is way too good to pass up.
If you guys are reading this, then you are interested in making money. You should be.
Young or old, you know my message. You can’t save “enough” for retirement, you can’t invest “enough” for retirement and even if you have a generous pension plan (remember those things?), there is no way to insure a pension or annuity will be “enough”.
My advice is, start now, at whatever age you are, and where ever you live, to “Empower” your retirement. Not only will you be able to enjoy all the years you have left, however many they may be.
BTW I notice there is a new ad popular back there in the USA, from Prudential Insurance I believe, which makes the claim that the first person to live to 150 years of age is ALREADY ALIVE. Kind of scary for some of you out there, isn’t it? Those who wake up every morning wondering if they are going to have life left over at the end of their money? guess what, stick with me and learn AND most importantly DO, and you will never run out of money. An astounding claim? Maybe, but unlike Prudential, I can prove my claim. In fact I am living my claim.
Now, back to Making a Business as Big as Amazon.
I started this article mentioning my friend Pat Flynn. This recent article and podcast is why. If you haven’t yet started empowering your retirement, if you don’t yet have a ‘going concern’ bring you in extra income every day, then you really need to read/listen to this. The podcast itself is 43 minutes that could literally change your life … and I (nor is Pat) selling anything here. Trust me. Go, Listen, Learn, DO!
SPI 099 : Buying Stuff and Selling it on Amazon (For 6-Figures a Year!) with Jessica and Cliff Larrew
Cliff and Jessica are real-life working people. And no they are not some sort of “Internet Gurus” nor do they do all that spammy Internet marketing stuff that makes you skin crawl and your tummy churn. They make money the “old fashioned way”, with a modern twist. Since Amazon.com is one of the world’s largest and most profitable retailers, they let Amazon sell their products for the, do all the web work, all the security, all the accounting, the marketing, handle all the complaints and so for.
Cliff and Jessica just do the non-computer leg work and bank the profits.
What kind of business model do they have?
The easiest way to put it is this:
- Go to the store.
- Buy ‘stuff’.
- Ship said ‘stuff’ to Amazon.
- People buy your ‘stuff’ on Amazon.
- Amazon ships ‘stuff’ directly to your customer for you.
In technical terms, this is called taking advantage of Amazon’s FBA Program, FBA meaning Fulfillment-By-Amazon. It’s a real thing, and people are making real money with it.
Amazon acts as a fulfillment center for your business. You sell stuff, they pack and ship it direct to the customer for you. They’ll even handle the customer service too.
Just last year, Jessica and Cliff profited over $100,000. That’s after Amazon’s cut (30%) and the costs to buy the items that were sold.
At this point, you probably have a lot of questions going through your head. Trust me – I did too (a lot), and I ask Jessica and Cliff ALL of those questions here in this episode.
Here are some of the questions that I ask during the show:
- What stores are you going to?
- How do you know if an item you buy is going to be profitable when you sell it on Amazon?
- Why would anyone buy something online for more than it’s being sold for at a store?
- Exactly how does this work – from the moment you buy something to the moment a person receives their item?
- How did you discover this business model, and how did you know it was going to work for you?
- Is this business model for everyone?
- How do you get started doing something like this?
- What are some of the most common mistakes, or mistakes you’ve made doing this?
- How often do you shop for stuff?
- Do you ever buy stuff that does not sell on Amazon?
- What is a typical day like for you?
- Can you share some items that you sell and how much you bought them for, and how much their going for?
- Seriously, is this really possible?
Also, beyond the business model itself, we talk a lot about how Jessica and Cliff got started, and I was also very interested in what life was like as a husband and wife doing business together, since my wife and I have, in the past, casually talked about working together on something .
You absolutely need to go read and listen. But I can leave you with this thought. I have several years of personal experience (and the income tax returns to prove it) that buying stuff off Amazon or EBay, cheap, and reselling at a much higher price, absolutely works … even with a price-sensitive market.
I’m stoked about this. Go, Read and listen and you will be too. Thanks Pat and Jessica and Cliff,