in this video we're going to go over the top 25 mistakes that new Amazon sellers make I'm going to show you real Amazon sellers and real mistakes that they're making so that you can avoid these mistakes and save money and my name is Travis and even though I've made over $7 million in online sales I've made hundreds of thousands of dollars worth of mistakes and some of these mistakes are very easy to make you won't even realize that you're making some of these mistakes until it's too late unless you pay attention we're going to go through every single mistake that people make when starting to sell on Amazon and we're going to go through the mistakes in the same order that people usually make the mistakes we're going to start off by talking about manufacturing mistakes and mistakes that people make related to that then we're going to talk about packaging mistakes and then listing mistakes mistakes people make when listing their product on Amazon and after that we're going to start talking about mistakes people make when launching their product on Amazon and towards the end of the video we'll talk about all the other mistakes that people make related to Amazon and some of these mistakes can be really surprising so that's one of the big reasons why I recommend you watch this video all the way through but make sure to smash the like button because this one video right here is going to save you thousands of dollars so if you're thinking about starting your own Amazon business you're going to want to stay till the end with my first company which was called B dance wear.com we did over $3 million in sales but I made so many many mistakes myself that I barely made a profit so I'm going to reveal the three biggest mistakes that I made with my first business right now and the first mistake that I made was starting out with way too many different products way too many variations to sell and these are known as SKS every individual product if it's a different color if it's different thing that's a different skew which stands for stock keeping unit so take note because this could be an issue isue that sinks your business one day we had 40 different items that were available in 11 different sizes and those were available in 200 different colors everything was made to order which leads into mistake number two is that we did our own manufacturing we were really two different businesses we were a manufacturing business and an e-commerce website all put together into one business and and that's a lot to manage for anyone and the third mistake I made with this business was I had no passion for dance clothing I didn't care about dance clothing and because of that I was constantly working hard in getting burnt out because I didn't care about the product so what I did is I created a business that only had one skew where someone else could do the manufacturing for me and most importantly I created a product that I was passionate about something that I was actually excited to talk about I've since launched products I love and I'm passionate about but I've got to be honest with you along the way all my mistakes have probably cost me over $500,000 and I'm going to share with you all the mistakes that I've made when selling on Amazon is as well as all the mistakes other sellers that I've been interviewing have also made so if you want to avoid these mistakes and avoid wasting a lot of money grab a piece of paper grab a pen and pay attention one of the most expensive mistakes that new Amazon sellers make is bad manufacturing when you're manufacturing your product and you're making adjustments you must always pay attention to the details which is a huge mistake that Michael made and it cost him $220,000 we were selling a lot of stock and we didn't want to risk of running out so we ordered from another manufacturer as well and we actually you know didn't inspect those and sent those right in and it ended up happening that they were much worse quality so people were actually leaving bad reviews and some people were really upset because they bought the previous product from us that was much higher quality and they were very upset about that if you have a manufacturing partner that works stick with them or you could end up losing $220,000 like Michael did and look I've been selling on Amazon for 10 years and I've gotten the Battle Scars to prove it I had damaged products and packages that burst open because I partnered with a bad manufacturer and it cost me tens of thousands of dollars not to mention negative reviews returns and a bunch of other things that could have destroyed my entire business I had to spent thousands of dollars fixing pouches that didn't have tear notches another few thousand throwing away leaky pouches I also at one point had film that was damag during shipping and that cost me thousands of dollars but the biggest mistake I made with manufacturing was picking the wrong manufacturer and I ended up having a manufacturer that scammed me out of tens of thousands of dollars so be careful when you're deciding on which manufacturer to work with you don't have to make all these mistakes you just need to know how to avoid them do your due diligence when you're partnering with a manufacturer but when you're creating a brand new product sometimes you need to have molds made especially if it's going to be a plastic product where there needs to be injection molding done Andrew created tool Wrangler and he made over $70,000 in profit but he made an investment that blindly cost him over $20,000 when I ordered this mold it was $20,000 and I was really nervous about whether it was going to fit or not so unfortunately the person that made the mold for me was not able to test it and I had to just accept it pay them in full before I ever receive the mold to to see if it was going to work um so when I got it I actually tested it out and it didn't quite work I was freaking out I didn't know what I was going to do I I was thinking it was going to be a boat anchor and I was going to have to go find another another $20,000 to try which I didn't have to try to have another one made and um we came up with a pretty clever solution the first pieces that came out of the mold actually had uh a little bit of a problem because they were too loose they didn't correctly fit the way they were supposed to so I ended up climbing inside the machine with a Dremel tool it ended up um resulting in a much tighter fit we got a little bit lucky and now if you see the two the two pieces when they engage they actually snap together and lock and this is a common Trend I see often times when you think that your business is failed you just wasted $20,000 if you use a little bit of Ingenuity you might be able to not only fix the problem but it might result in a product that's even better pay attention to every detail or you might make the same mistakes creating your product but when you're creating packaging there are a ton of mistakes that you need to be aware of and you need to avoid because these mistakes cost you hundreds if not thousands of dollars in potential profits in the long run product I had could actually be split up and packaged in different ways so even though it was only one product with two different components I could package them in different combinations and that allowed me to build out a few more SKS and add more to the portfolio which ultimately led to more sales so the lesson I took away there was add some more SKS if you have a Witter and the next thing you realized is why stop selling on Amazon because you're selling a passion product you're selling a unique product that doesn't exist in other places so you started selling on some other platforms as well what other platforms did you sell on so starting on Amazon I also went to Etsy I went to eBay and then I also expanded to other Amazon marketplaces in different countries and then I also developed my own website as well and this is a huge lesson this is something that I teach everybody that joins my Amazon FBA program and Andrew is actually a member of the ppf program but you talked about how done is better than perfect talk a little bit about what that meant for you and why people at home should listen yeah that was a message that I got from you in the course um basically I was really stuck in analysis paralysis I think a lot of people do get there you know you want to make sure your product is perfect and everything is great and the reality is that held me back you know I could have had this product on the market probably a year earlier if I had it just moved forward and there's always opportunity to make the next version and the next iteration besides half of the time the customer feedback tells you the way you should go and so I really think it's most important just to get the product out there get the feedback and then move forward and innovate further rather than wait till you think it's perfect cuz what you think perfect might not be what the customer was Andrew said it perfectly you need to get past analysis process otherwise you'll never actually start your own passive income business pick your passion product and try to stick to one or just two SKS when you first start out that way you can focus on promoting those specific businesses that's how I was able to create my first business that was making over $100,000 in profit every year 28% of Amazon customers go from searching for a product to completing checkout Within 3 minutes when your customer sees your product they must immediately understand what it is or you're going to lose them that's why only having one or two different types of products with very clear packaging is so important every aspect has to be clear cohesive and reflect your message or you'll end up like Edgar Edgar was selling apple cider vinegar but his packaging mistake cost him over $10,000 we took a premium product and put it in non- premium packaging we took our organic apple cider vinegar and put it in plastic and the reason we did that was because we wanted to offer the best possible price we could however our customer base really told us they wanted to see it in glass so we listen to our customers we discarded and discontinued the previous item which we had to get rid of a lot of materials and supplies and designs that we had come up with it we found a beautiful glass bottle and we designed it for our organic apple cider vinegar now Edgar spent around $10,000 of his time and energ and his team's time developing this product but an actual dollar amount they sold 800 units of the plastic bottles and made a profit off that though they did have to throw away a bunch of material they more or less ended up breaking even is that right yeah that's absolutely right so thankfully we weren't super the negative because we were able to sell a bunch of the units but we learned from that mistake and now we're actually selling thousands and thousands of units of our glass organic apple cider vinegar on Amazon and we're seeing great profits luckily learned a great lesson but he could have saved hundreds of hours of stress and over a $10,000 if he would have packaged his product correctly from the beginning make sure that you think through your design and that you love it before you start shipping out your product or you'll make the same mistake that cost one of my students from my passion product formula course thousands of dollars and remember that fee we talked about the whole labeling and everything that was like very bad I didn't have a nice label it didn't look good uh my listing images kind of were really bad so I would say that was was one of my biggest mistakes cuz people buy with their eyes and that was pretty bad but here's the important thing he started out with a bad design and he's iterated it and it's become better and better and better way better and that's that's the way to start a business is start it is just start yeah just start and so the second mistake you made after that what would you say the second mistake is U so I would say bad quality control I never had a quality control procedure in place I never checked my products uh I know a lot of people talk about inspections in China I never did that cuz I was in the US which was a big mistake because my first 100 bags 60 of them broke during shipment Mina put quality control procedures in place and made over $48,000 profit in just his first year but he could have doubled that if he had just paid more attention Fred made cable caddies and in his first 6 months he made over $10,000 but Fred made a big packaging mistake that could have cost him more than $5,000 so I had made my uh initial order and then I did a design change while that was being built and shipped over to uh the us and so I had to do a lot of rework on my product and so it impacted my ability to ship inventory to Amazon now luckily it actually didn't cost Fred any money to fix this he was able to pull out the units and fix it himself but the amount of time that he had to spend doing this I estimate that that cost him at least $5,000 worth of his time yeah so you kind of get stuck in a in in kind of a you know a loop where you're trying to figure out what product to go with and um it's kind of like analysis paralysis when you first get going but I think the thing that I've learned is that you just have to pick a product and start going Fred is exactly right if you don't start now you never will that's part of the reason why I have an Amazon FBA mentorship program there's a link to it down below in the description and when you join this program you get access to weekly Q&A calls with either myself or my coaches step-by-step lessons and a bunch of other Bon ofits link to that down below in the description but when selling on Amazon you need to choose what your passion product's going to be you need to find the right manufacturer and you need to pay attention to the packaging because with over 4,000 new Amazon sellers joining every day if you aren't selling a good product with good packaging your product could easily not do well on Amazon when you're getting your product out in front of your audience you need to make sure that you have everything done correctly you get one chance to launch a product or you could end up like Karina and Justin they made a huge mistake with just a click of a button we were planning initially to launch in December but then once we talked with Travis he said that it would be a nice idea to launch at the beginning of the year when everybody is back to their homes from all the vacations and they're making New Year's resolutions they're trying to eat healthy it's perfectly timed versus in during you don't want to launch a Kickstarter during Christmas because what happens is people want to buy things that they're going to get in time for Christmas they don't want to buy something they're not going to get for a few months what was the mistake typically it takes about two to three weeks for Kickstarter to review your listing and approve it but this time when I clicked on submit it literally took like probably 5 seconds for them to approve it so then the big button came out um and what did it say I think it said launch now and then there was a little tiny Chiron that said details and I walked into the room she says oh it's approved and I walked in I was like oh let me see and right as she was about to click launch now I was like no but then she was too late and there's no going back once you've launched the kickstarter you cannot remove the campaign so we spent about 24 hours give or take trying to figure out if we could take down The Campaign which we couldn't and then we started marketing it after the fact but you know we lost probably a decent amount of Revenue right there just from that initial 24 hours is very important on a Kickstarter and you launched this product the day after Christmas probably the worst day to launch a Kickstarter because people are just done spending all their money up until Christmas and they need a break and I think personally you it lost at least $3,000 just from that one mistake so make sure to be very careful when you're launching a Kickstarter but you guys still did fairly well how much money did you make from the kickstarter the kickstarter was over 4,000 and that's enough money to kind of first off it lets you know that people are actually interested in this product because people spent money buying the product but also you got that money before you really had to spend money on your production so you were able to use that money on manufacturing so then you did your first manufacturing run how much did your first manufacturing run cost you it cost us $6,000 to do our first production run I think our second mistake M take was not to take proper rest after we finished with our kickstar because we felt very burned out this is a huge thing most entrepreneurs when they they just keep going they launch something and they're like okay cool on to the next thing on to the next thing and it's important to celebrate your wins I always recommend when you hit a big milestone take a week off take some time to go travel and enjoy your life you've got to take care of yourself burnout is a very real thing and if you're not taking care of yourself letting yourself recharge you're not going to be able to run your business to your full potential and that can cost you thousands if not hundreds of thousands of dollars in missed opportunities take some advice from Jeremy who launched slim caddy and did over $100,000 in sales in just his first six months but there was an issue after your first week on Kickstarter You' only raised $33,000 and the way the kickstarter works is you had a goal of $10,000 and if Jeremy didn't hit that $10,000 Mark he would get nothing and usually the first week of a kickstar is when you make most the money so how are you feeling at that point yeah not good at all frankly you know I kind of knew that it was going to be tough because I didn't have uh I kind of jumped in you know literally was this is now or never didn't building massive email list use Facebook groups like Travis we'll talk about in his in his passion product formula course that really helped that was actually like kind of my Bedrock for making funds on my first couple days but it wasn't enough so then what did you do after that I basically uh did a lot of cross promotions with other kickstarters try to get that Kickstarter fan base behind my product and then even you know just being a kitchen product decided to go around my own neighborhood knocking on doors and literally giving them little pamphlets about it even Christmas time put a candy cane on the actual thing just generate that emotional connection with them and when Jeremy told me that he'd only raised $3,000 in the first week I was nervous but then when he told me that he's knocking on doors he's getting Scrappy it got me excited and he ended up raising the $10,000 he needed two days before the end of his Kickstarter and finished with $11,000 Jeremy is a hustler but he had to be he didn't have an audience when he first launched don't make that mistake I have an entire module in my Amazon FP program that talks about exactly how you can do marketing for your business so that when you launch you have an audience from day one and that's going to lead to getting a ton of sales from day one and that's what Amazon wants to see that's going to create a Snowball Effect where you get a ton of sales from day one Amazon sees you have a good product they're going to put your product up higher in the search results which is going to lead to more sales and more sales and more sales again if you want to join my Amazon FBA program there is a link to it down below but you do need to hear this build an audience and launch your product now because if you wait you could be losing out on tens of thousands of dollars every single day Jeremy made this mistake too I guess it wasn't really waiting it was just this issue with my factories you know it Tak taken months of my time to uh find a manufacturer that could actually make it for me and here's the key Insight Jeremy made over $10,000 profit in his first six months if he would have been able to launch his business 6 months earlier he could have made an extra $10,000 profit and most people get stuck in analysis paralysis they never start their business but what they don't realize is every minute that you're waiting to start your Amazon business your online business you're losing money because you could have been making so much money analysis paralysis is very common almost every successful business person I know suffered from analysis pris at the start and hopefully by now you're noticing a trend and that trend is don't wait if you have an idea for a product start now and even if you don't have an idea for a product in my Amazon program we have an entire module showing you how to find an idea that's going to be profitable when you go to sell it on Amazon and if you don't act soon one of those other 4,000 new sellers that are joining Amazon every day might steal your idea might launch your idea before you get a chance to do it so act fast William didn't have enough of a following when he launched and it might not sound bad right but think about this every single follower is a possible customer and if you don't have a following you're losing out on money when you go to LA one thing that I always recommend is to create a social media account to try to get as big of a following as you can to try to get as many email addresses as you can so that leading up to the launch you can email everyone and let everybody on your social media know that you just launched a product now this is something that you didn't do as much of why why did you not do that and would you do how would you do it differently if I could do it again I would have taken Tik Tok more seriously and grew that social media platform so that I could like broadcast to all the fans that rockety was available a I feel silly not to have done that better um and I yeah a bigger social media following during the time of launch would have been nice to sort of broadcast to those followers that are already interested in the product and I had one student AJ who used Tik Tok to do over $500,000 in his first year ever selling on Amazon so Tik Tok and social media is a crazy fast way for you to make a lot of money with Amazon if Willam would have started this business even earlier we would have already had that unprofitable month behind us and he'd already be starting to make a profit what advice do you have for people at home I would say don't get stuck in analysis paralysis and don't be afraid to fail forward I went back and forth on a lot of different things and it kept me from getting started sooner social media can Skyrocket your sales take Logan and Leanne they sold a product called bathrobe curls but they took so long to launch on Amazon someone else got there first this is one of the worst mistakes you can make and it cost Logan and Leanne at least $100,000 I think with the social media um a lot of it was psychological barriers um a lot of it apprehension or self-doubt um that mainly I've never done Marketing in my entire life and then combined with a semi perfectionist personality can be really daunting to step into something that feels so big we took so long and we didn't launch it the right way there's another product well there's similar products and one of the products is selling $150,000 a month worth every month so we're missing out on WE we've missed out on a ton of income and our product is I don't think I'm wrong to say it's it's it's Superior so um the mistakes we made were not building those relationships and I think that's what you're talking about when you talk about keeping people in the loop letting them know what's going on people are actually interested you could start with friends and family let them know you're doing this invite invite them to a Facebook group and then bring them along on the journey the the successes and and really mostly the failures where you made mistakes like where we got labels and they just weren't right or when we got the the first set of product and had sticky labels all over them um even when we're struggling um with our own like maybe sense of self-doubt or perfectionism people I think they really do want to to hear about that and it's relationship building so we missed out on that make sure to have those relationships to set yourself up for Success you've got to put all your attention into your products when you're launching them this next mistake is one that I made with my first company P&B when we were trying to sell our products in jars I was not involved at all during the launch of this product I've been spending the last year focusing more of my time on teaching students in my Amazon FBA program and partnering and investing in students to help them launch their own Amazon businesses and so yes I might start getting more involved back with P&B my original Amazon business you need to do your best to avoid manufacturing mistakes design disasters and any packaging problems but there is something that's even worse that we're going to be talking about soon we need to talk about inventory and inventory issues and this is another common issue that a lot of Amazon sellers run into and this one mistake is so common that in all the interviews I've done this one has come up almost every single time I've interviewed over 30 people and every single one of them have made this mistake a bad product leads to bad reviews and bad reviews can tank your entire business Arana to learn that the hard way there were some mistakes on the card so we're stuck with 2,000 units very minor mistakes but we're stuck with 2,000 units that have mistakes I didn't spend the extra money to have them ship me one of the products just to see how it looked like which is a big mistake um so I would have been able to catch those mistakes but because I felt very confident with the proof reading and everything we ordered those 2,000 and then once I had the physical product I noticed what went wrong so now I'm stuck with selling those until I and this is there's a lot of big lessons here one of the big lessons here is there's going to be mistakes with your product Ariana reviewed it so much we hired a somaler to review the product she had friends look over the product and she told me I'm 100% confident there's not going to be any mistakes yeah and I told her there's for sure because there's so much text on our product I'm like there's for sure going to be one tiny spelling mistake so understand you're going to make a mistake and it's not that big of a deal it's really not the end of the world like now I know what the mistakes are and I'll change it for next time and people are still going to buy it it's as simple as having an eye for details now here's a mistake I see every single day from new sellers we would have made even more money if it wasn't for our second mistake which was running out of inventory running out of inventory inventory inventory inventory inventory the mistake of running out of inventory see I told you this is a very common mistake this is a serious issue and I've seen it cost people thousands in fact it almost cost Brandy $40,000 so I did run out of inventory and um I sold out you know in the first two weeks which to some people that sounds amazing but but really it's not I projected that I was going to do maybe 300 celles my first month but once I started seeing you know on my 11th day I hit 100 Sals a day so at that moment I should have been you know let's get some more inventory inventory ASAP you know so running out of inventory is definitely not something that's ideal and yeah it's one of my huge mistakes I wish that I didn't have that issue don't make that mistake Brandy was lucky she risked $40,000 but it cost Emron $105,000 that's right $15,000 but he learned a big lesson the biggest thing is ordering enough units and sometimes when you're first starting out you don't know that magic number right and what happened in my case was that I was spending so much money on PPC I did SEO and I was able to go ahead and rank for the biggest keyword in my Niche which was shoe cleaner and I went from selling right around 20 units a day to selling 60 units a day basically overnight that's a really good thing right like I mean it seemed like a great problem to have except when you run out of stock Amazon hates that yep blacklisted yeah yeah so that's what ended up happening to me right I spent a whole month out of stock and when I finally got back into stock I did everything I could to try and go ahead and get that shoe cleaner Amazon Choice badge you went from basically 60 units a day down to 20 units a day in sales yeah that's it's a really big hit and if we break down the numbers there you and you were making about $7 profit per unit so you lost 40 sales time 7 it's like $400 in profit per day times 365 days cuz it's been a year now that's over $100,000 in Lost sales yeah exactly and the thing is that no matter what I try now it's very hard to even get there again the next mistake is from Brent his product seir Pro last year alone did over $1 million in sales on Amazon but he made this horrible inventory mistake that cost him even more success we would have made even more money if it wasn't for our second mistake which was running out of inventory during Christmas during Christmas you will sell triple the amount of volume so how I fixed that was I used more of the proceeds of the money that I made and leveraged more of my house and fast forward we've never ran out of inventory ever again and now we're sustainable and in our second year selling on Amazon we did over a million dollars in sales one of the biggest mistakes I honestly feel like I made was I didn't launch my product soon enough because the money that comes in was incredible I make make about 20 to $30,000 a month and yes a lot of people that are watching this you can do this on your own and you can fine-tune your product and get your website up in 2 years by yourself but why would you want to do that when you could take a course and get it done in 6 months the product sat out in my garage for 2 years and had I taken the course and not delayed each month that I sell my product I make about 20 to $30,000 a month imagine 2 years lost not with those sales if you have the right amount of you'll be okay I go over the secret tools to keep track of your inventory in my Amazon FBA program the passion product formula link to that down below but Ariana made the flip side of this mistake and it cost her $110,000 we spent $5,000 on our first production run that actually wasn't true we actually spent $10,000 to order 2,000 units if we would have only ordered $1,000 units it would have only cost us around $5,000 but we ordered too much inventory and we made this mistake because Travis's Amazon business was selling over a th000 units a month and he ended up running out of inventory at one point and when you're selling that Amazon you don't want to run out of inventory because Amazon might Blacklist you or just decrease your sales because they don't think you're a reliable company so we ended up ordering 2,000 units of Ariana's product to be safe but we could have just ordered a th000 units of Ariana's product to keep startup cost low because it did take longer than expected to sell out of those thousand units it didn't matter though because eventually we ended up selling all 2,000 units not only can this mistake cost you $10,000 but you can lose so many potential sales which is nothing compared to the mistake that Michael made getting his product to the Amazon warehouse and this mistake cost him $500,000 it could have ruined his entire business make sure you don't do the same thing you know we would launch a new product order a lot of inventory and just send it all into Amazon I'll be like oh based on the math they could do this amount of sales and I don't want to run out of stock so I'm going to send in a lot of units and what happened is you know with one product uh you know that we started launching it and then the product got taken down so now we're stuck with a lot of units we have to send back with another product it took a longer time before it really picked up in sales so our calculations were way off and we had a lot of extra units in Amazon so we kept having these issues and then we had another time where we actually sent in a lot of inventory directly from our manufacturer and there was issues with like the labeling and because it was such a big order it was costed so much money but we real really realized is that it makes much more sense to really calculate very conservatively for the start of how much you need and once your prod and even if you're going to have to start sending in much more units and more often which is annoying to have you rather send in a shipment once a month than have to send in every few days but in the beginning it's too hard to calculate exactly what the pace is going to be to send in those smaller shipments but um more often and then once your product stabilizes then you can make very calculated decisions on larger shipments the thought of losing a half a million dollars wa wakes me up in the middle of the night in a cold sweat but we've got five more massive mistakes you must avoid to succeed on Amazon and number 25 the last mistake we're going to talk about it can end your business before you even start it's so simple almost every seller without even realizing it ends up making this mistake and I highly recommend you pay attention to this next section and paying attention to something that AJ didn't do in it cost him when transporting cocktail cards from the manufacturer and it cut his profits in half well first of all we decided to a lot of our inventory by air shipment versus sea shipment that cost $18,000 more so while we did get our inventory a month faster it pretty much cut our profit in half and number three this is our biggest problem is inventory we've been out of stock for 3 months we probably missed out on over a 100,000 maybe even $150,000 worth of sales simply because we haven't gone all in on inventory until this point missing inventory because of that delivery mistake can have a lot of trickle down consequences shipping is a world of stress but you'll be okay if you just pay attention and that's something that the next person didn't do this ironically heavy mistake cost Iman $112,000 Amazon charges you Amazon Pick and Pack fee based on the weight of your product so if you have up to one pound that's one price if you have over a pound that's a different price this right here this product was in the borderline between one pound and 2bs and what ended up happening was that my supplier filled up my P my actual liquid on this one here where it fell into the 2 lbs on Amazon which meant for 1,500 units I basically got charged an extra dollar 20 you'll do anything to make sure your business succeeds right and one way to make sure that your business succeeds is called PPC which stands for pay per click advertising it's a way for you to advertise your product on Amazon that'll make it so that your product shows up at the top of the search results more attention equals more money but it also means more inventory a mistake I learned the hard way not setting up PPC earlier now again I did this on purpose to make this an honest test to really try launching a product without PPC but if you're launching a product on Amazon Amazon PPC is one of the most profitable ways for you to advertise your Amazon product for every dollar you spend you could be making $3 if you do it correctly the other reason I didn't do this is I wanted to wait till I got some reviews on my product before I started using Amazon PPC because if you're advertising your product using Amazon PPC without any reviews the chance that someone's going to buy it is very low so you want to get some reviews so people know that it's a good product if you seriously consider PPC the biggest mistake you can make is not making that investment because it can cost you thousands of dollars of potential income if you're not paying for advertising you're losing out on potential sales just like Troy and missing out cut his profits in half not really doubling down on PPC he told me that so far you've only really run the automatic Campaign which is crazy because like if you can start really and I'll link I have a a tutorial video did going in depth on how to do Amazon PPC it's the most in-depth PPC tutorial video and if you really dive in and you really know what you're doing you can double triple quadruple your profit very easily there are some fatal mistakes at every level of launching a product even when you're seeing success and this is the most important thing that nobody is talking about and that's cash flow management you could get trapped and end up spending $30,000 when you really don't have that money poor cash flow management cash flow management is the most important thing nobody's talking about it's not a sexy topic but it's so important and I wish someone would have sat me down and explained this to me before I got started so please pay attention so for me every time I did a production run of my product it costs $30,000 so every time I had to pay that there was a lot of fear involved I was scared whether or not I'd ever see my money again but that's that's a topic for later in this video so it would cost me $30,000 and I'd get somewhere between 34 ,000 units on my product so what happens I spend $30,000 my bank's down to zero and then I slowly start to sell those products and my bank account slowly goes up but here's where the issue comes in I would have to buy my next production run another $30,000 before my bank account had that $330,000 so what I would do is I'd always wait till the last second to order my production run till my bank account had gone up to that $30,000 cuz remember when you sell a product on Amazon Amazon doesn't pay you right right away and there's there's some delay there so what would happen for me is I'd always be waiting till the last second which would cause me to always be on the verge of running out of inventory because I was constantly on the verge of running out of inventory I didn't push my business I didn't try to increase sales because if I would have increased sales I just would have ran out of inventory quicker and this was a huge mistake because when I launched on Amazon I was the only product like mine on there and if I would have really worked hard and really tried to grow my business rapidly I would have had a huge Advantage I would have probably dominated the market if you don't manage your business you could lose everything that you've worked for JP set up his business perfectly and boom he built a$ million e-commerce Empire but he made this massive mistake just when his business started growing and that's not growing the business what advice would you have for someone like if you could go back in time and give yourself advice what would your advice be great question so why not growing the business right businesses I've heard this saying before either grow or they die it's like an organism it can't just like continuously Coast so by us not growing it everyone else was moving past us so we had a like half a dozen competitors pop up you know they worked harder on their marketing they worked harder on Facebook ads they worked harder on SEO and by us not moving forward with like increased momentum we were just falling behind so the biggest mistake is being complacent and being comfortable with where you are because entrepreneurship is a game of continuous innovation and continuous change you have to level up your skill set continuously learn learn from people who are ahead of you um so you know if I'm at a million maybe I learn from people who are at 2 million 5 million right or who've been doing business for like 5 years 10 years longer than I have and that's where you know if I had done that while we were we were basically like at the time I think the number one online custom mouth guard store and if we had kept that lead and just leaned into it I think we could be doing you know several million dollars more right now per year in Revenue every single thing we've talked about in this video is a mistake that has cost sellers thousands of dollars but this next mistake is the biggest mistake and it's the most common mistake and you're probably even making this mistake right now and that's waiting almost every s I've talked to tells me if I would have started my business a year earlier I would have made an extra 101,000 million dollar and I know when I launched my first business in our first year we did over $100,000 in profit meaning if I would have launched my business a year earlier I would have made an extra $100,000 in profit so every second that you're sitting there stuck in analysis paralysis stuck waiting you're losing out on money I didn't follow my own advice I didn't really create a passion product even though that's what I talk about on this YouTube channel that my first product that was really successful was a passion product this product wasn't really a stereotypical passion product first off it wasn't really that new or unique of a product yeah it was a little unique because it didn't have any sugar didn't have any sweetener it was an allnatural product and I do think it is better than the competition but my first product was a completely brand new category there was nothing like it on Amazon and that's why that product was able to have so much success was there was nothing else when people were searching for products like mine mine was the only one they could buy compare that to now when I launched this product there's a lot of competitors for people to choose from which means the chance that they're going to buy my product is a lot less not to mention and this is something it's hard for me to admit it's not really a product I'm not passionate about I'm actually not even a huge chocolate Guy this is me following the numbers and me just doing something because it seemed like it would make sense profitable and if you're anything like me maybe the reason you're stuck in analysis paralysis is you don't know what the first step is or the second step you don't have a path or a plan on how to launch your Amazon business and that's why I created my Amazon FBA program the passion product formula there is a link to it down below and this program has over a 100 step-by-step screen recorded video lessons it comes with weekly Q&A coaching a private Facebook Mastermind and basically everything that you're going to need in order to launch your Amazon business and what I've seen over and over again is people that don't pay for things don't pay attention and I know you might be worried but my program has a double your money back guarantee when you join my program if you follow all the steps and launch a product on Amazon and don't make at least $1,000 in your first year I will personally refund your program and give you $1,000 out of my own pocket so when you join this program you're guaranteed to make money if you follow all the steps on top of that we have a 14-day completely money back guarantee this is a no risk opportunity if you want to change your life if you want to make passive income if you want to have a better life join my Amazon FBA program today and know that it's completely risk-free again link to that program down below here click there and I'll see you in the program and I'm excited to help you to launch your own passive income Amazon FBA business thanks for watching
