alright guys welcome back another exciting episode we have breaking news for you guys ey University is on fire and we want to make sure that everybody is included so we have a new promo that we are running 40% of our annual membership to ey o University which includes weekly webinars over 47 past webinar courses that are archived access to our private real estate Facebook group access to the book and movie club and much much more so if you're interested go to WWE yl university comm right now and enter code earners for annual membership 40% off the annual membership let's go [Applause] alright guys welcome back you il virtual edition yeah the first of the sorts and this is a very very special reason special episode for a couple different reasons a the first time that we actually go on virtual is all the time we in the age of social distancing so we are adapting to the time like everybody else is and B is something that we haven't covered yet yeah I think it's perfect timing because we try to facilitate requests for industries and also for individuals as well when we can and this one is actually one of the top requested for individuals and industries and so yeah it's crazy so Amazon FBA is huge there's there's tons thousands of sellers on Amazon and what FBA stands for us for fulfilled by Amazon so it's a whole industry of people that work as middlemen for lack of a better word pretty much to buy products and didn't sell it on Amazon but they don't keep any merchandise or any products on them because it's all shipped from different locations to Amazon's warehouses they have over 100 warehouses and throughout the America and all over the world and then is shipped to to actual people that buy it so it's a very interesting business model so that's something I actually learned about very recently and it's very lucrative I found out so people who was asking for us to cover it and then people was asking for Joshua and Chris Kemp and his name is Amit gram he got Lamborghinis and helicopters and all kinds of stuff Rolexes inspirational years old he's living a life so you know it was just a perfect match so we reached out to him and he was real real cool about it you said yeah come on so without further ado Josh pleasure to have you can I call you Josh is that cool Joshua with Josh yeah josh is cool I appreciate you too my brothers man for having me it's an honor man and it's a blessing to be a blessing so I'm ready to get started man it'd help as many people as we can so let's start at the beginning because we like to tell the backstory we actually get into the business model because I think it's important for people to understand who these people are that we actually bring on the podcast and as I said you're interesting because if somebody looks in a social media page now they see all of the trappings of success the the jury the Lamborghini you know trips to Brazil but it wasn't always like that I know I was watching some of your YouTube clips and you were saying that you come from humble beginnings he was actually working I believe like the overnight shift 725 to the seven figures man yeah making 707 dollars and 25 cents an hour overnight pretty much sorting trash so you know it's crazy that you went from that to becoming a millionaire in a very short period of time so can we get to the back story of how you got to this point and what really introduced you to be an Amazon seller yeah absolutely so like we was just talking about people see the shine but they don't see the grind and it hurt like I felt the anxiety as you were talking about it because I remember vividly the reason why I go so hard today is because I remember vividly sleeping on the air mattress in that one-bedroom apartment you know volunteering at the Salvation Army for for canned goods and for bread for my family and you know volunteering at the Center Township literally pressure washing gum off the sidewalk at the center Hall for vouchers to pay my rent so like I get a little anxiety when you talk about it because I remember that and I always made a vow to myself I would never forget where I was that way when I get where I am that I always be grateful and humble so it's just like bringing that back it's like flashback like a little PTSD but back in the day like I always had a like a hustle ambition about me like even when I was young and in school I used to hustle candy chips little bags of chips all types of stuff to just hustle coming up from you know where I was at and the way that I came up and I just always loved hustling like I was selling baseball cards candy like anything right and where I was that you know I was wrong around the wrong crowd and stuff in back then there's not much that you could do to make money so I was always trying to find ways to make money and I was around the wrong crowd and you know I ended up being a felon at the age of 18 like I was a high school dropout I was raised by a single mother at time we were struggling I was like my mind wasn't on school it was on my how can I help my mom out and how can I provide so you know I ended up making some wrong decisions and you know becoming a felon at an early age and had multiple children so I say that to say like I had nothing else that I could do so at that age I was working for a temp agent called Spartan staffing for a company called finna tech and I would literally hand sword through trash for bare minimum wage that's why like if you guys see like the podcast or the YouTube it's the story of seven twenty five to seven figures I was literally making minimum wage and I met my wife who we went to school with but we really didn't know each other in school and I met my wife through a mutual friend and I would go to pick her up and just go to see her on her lunch and her boss was an older gentleman right and he was always reading old school she's always reading the newspaper always online just read news articles and I would just explain to him like you know like I want to own a business like you and I want to be able to like this is where I'm at and I know that you know my current situation you know doesn't have to be my final destination I want to do something like you like own a business so I ended up being like my first mentor I didn't even know what a mentor I was like he's an old head he's got a business even though he's not rich he doesn't have to work for someone else so I was always talking to him and he was always reading the newspaper and he was talking about Amazon like like I think ecommerce is the new wave of the future this is in 2014 so this is like six years ago and he was talking about Jeff Bezos and what he was doing and how he thinks this is gonna be the wave and he was just always just putting it in my ear and you know how I was trying to do so many different things trying to do all these side hustles and stuff to make money because I was working third shift 7 p.m. to 3m I didn't get to see my family so I was trying to hustle stuff I was selling clothing I was cutting grass I was doing whatever like I tried to start a lawncare company buy anything I could do just to hustle to make some money that's all I knew and he told me about this Amazon thing and I really dived in like I didn't even have a computer out with walks to the library to do research and the rest is history like I learned about Amazon I tried I tried I tried I kept failing and after the three failed products the fourth one was it was a home run product it changed my life so that's like a whole like two three three years story like in like five minutes that's how it started man now Josh I've been an Amazon member for about that time but what turns you on to the FBA side of it so the FBA side of it fulfillment by Amazon is what FBA is is the weight one of the best ways that in my personal opinion you can sell on Amazon so there's a few different types of ways to sell on Amazon I'm glad you asked that question like I previously said I was hustling stuff so when I was going online trying to find ways to make money I found out about arbitrage which is another way you can sell online which is where you take brand-name products that already exist large brand-name products you buy them at a discounted price so if they're on sale or they're at the thrift store or something like that and they're below MSRP which is manufacturer suggested retail pricing you buy it at that discount you sell it at full price and you keep the difference so I was already doing that I was taking my little bit of money and I was going to the Salvation Army and trying to find designer clothing and I was reselling it on eBay for that full markup and I was doing the same with Amazon I was trying to find stuff online discounts coupons and buy it on sale and sell it at full price and keep the difference so when he told me about Amazon I started researching and learning about Amazon I learned about arbitrage and I knew that you could do it on Amazon but that was like a hustle I wanted a real business that was gonna work for me because my mentor always told me that the true key to success is to have your money work for you without you working for it like he told me like you got to eliminate the hustle mentality like of course you gotta hustle to get things started but the but the end you should have the end in mind in the beginning and the end is to have your business work for you without you working for it he was always telling me about les touches and to work on your business not for your business so when I was looking at these different methods I was like I'm already doing this and I'm still hustling stuff and it's not sustainable like at that time I didn't know what sustainable was but he would break things down to me like you need something that you can sell over and over and over again what you're doing is making you some fast cash but you can't find these these clothes on sale you can't find these products on sale all the time so when looking at these different methods and stuff and business I said you know what like the light really the light bulb really went off I'm like these large brands like beats by dre or Apple these large brands are finding products that have demand that people need that they're buying every single day irregardless of the day the month the age the gender and they're using Amazon to sell it right they don't need a physical store you don't you don't need to do this you don't need to make some special product in this products that people are going to continuously need so that's what I learned the difference between the two and I dove in to FBA which is private label so you can sell on Amazon arbitrage private label or wholesale these are different business strategies but the strategy that I actually sell right the business model is call it private labeling so instead of selling other people's products large brand-name products we find products that people want that have high demand low competition and we create our own brands and then we sell them so that's what I specifically do so can we get into it on the basic basic ground level 101 explanation of what is FB I understand as you're selling and it's fulfilled by Amazon you sell of Amazon but what does it actually entail can you give the 101 on the situation yeah yeah so FBA is fulfillment by Amazon and this is how to hold like a bird's eye view looking down this is how the how the whole business works so we find these products once we find these products we're gonna find a supplier rather in the US or overseas doesn't matter where the supplier is that the supplier is gonna make our product once that supplier makes our product they're gonna ship it directly to Amazon and this is where the FBA kicks in the fulfillment by Amazon once Amazon receives that product in their warehouse they're gonna facilitate it but then they're gonna disperse it to other Amazon warehouses and that's how we they can ship products and it can be prime eligible which like 80 percent high eighty percent of everybody who shops on Amazon or Prime members it's over 150 million Prime members in the US and basically that means whenever we go online on Amazon and shop we get our products to our doorsteps in two days so Amazon facilitates it disperses it to other Amazon locations and then when consumers people like me and you go buy products online Amazon picks it they pack it they wrap it use their own boxes their own labels their own work force you know it's under their warehouse and then they ship it directly to customers and if we get it and we're like yo this isn't what we wanted or you know we're warehouse damaged or they just decided they don't want it anymore Amazon even handles the customer service so literally all we do is we find the products we find the supplier and we manage our inventory and our advertising which is all done from the seller central portal which Amazon created and that that's like the bird's eye view of how the whole system work so the products aren't like company products to actually just random products and you're labeling it under your company that's kind of what I'm understanding so can you give us an example of like what kind of products that would entail for this yeah absolutely so I got I got like they're all around the house so this little lint roller like I just used before the interview to get the lint off my shirt we would find a product like this like there's no label on this anywhere and let's just say that there's a huge brand just because a huge brand sells this product doesn't mean that we can't sell this product you just can't sell it as them as you're not a licensees so we would find a product that people have a demand for that people are going to use every single day irregardless of where they live how old they are gender etc and then we would create our own brands so now it would be private labeled by our brand we would put our brand on it we would ship it directly to Amazon and they do the rest see what like a lot of people don't know like when you think of like when you need to blow your nose you say hey can you pass me that Kleenex right Kleenex is a brand the name of the product is tissue right so that and that's like brand notoriety and that's what we do is we try to become apex predators for these different categories same like when you get out the shower you use a q-tip right well it's actually a cotton swab q-tips the brand name it's a private label brand name so we find these products that people need and we try to become household names we just find ways to differentiate them and prove them and to gain market share through differentiating the products and that's what we do so you put your logo on it you put your brand on it but after that it comes to a manufacturing standpoint like what's that process like so once we find a product so first we want to verify and validate the product before we even order it so a few things we do is make sure it's not a seasonal product so I don't know if y'all got kids but I got kids and we had these fidgets spinner things all around the house right that's that's the trending product it went up like this and just as quick as it went up it nosedive so once we verify that it's not a trending product we meet we move forward and you can go to Google Trends it's a free tool type in the name of your product and you can look at a historical chart so to show you like for the last five years ten years has this product been selling every day so once you identify it's gonna sell every single day because that's what we want we don't want to hit or miss we want something that's gonna make money every single day after we knock out the trending then we look at the seasonality so we can go on Google Trends again if it's only selling tours October like pumpkin carving kit or November and December like Christmas lights then it's a seasonal product we don't want that we want January through December so after we do these little things to verify and validate that product we go to Alibaba which is where we find the suppliers it's free to use Alibaba you don't need any type of special account nothing like that and we're gonna go and type in the name of our products so just we would type in lint roller into Alibaba it's gonna show all these manufacturers we want to reach out to the manufacturer and we want to you know do our due diligence to make sure that they're a hundred so how long have they been in business how many employees do they have what is their gross annual revenue how many star ratings do they have look at them on Better Business Bureau and prevent them to make sure that they're legit and then that's where you do your negotiating once you come to a conclusion on the price you guys agree on a price you found a manufacturer you're gonna give them 30 percent down on the product so that starts and initiates the manufacturing once the manufacturing is done you pay the rest once you pay the rest they're gonna go ahead and ship the product directly to Amazon so they're gonna handle getting it through customs they're gonna find the freight Ford or everything for you it's going to be shipped directly overseas if you're using a China supplier and be checked in by Amazon if you're using a u.s. supplier then it's from the suppliers warehouse directly to Amazon then Amazon checks it in and you go back to that another process right they pick it packaged ship it handle returns so when you're in Google Trends it from what I've read you want to find products that have high demand and low competition is there a certain statistic or a metric that you use when you're trying to find that yes so we use Google Trends for seasonality and to see if it's a trending product can you explain what Google trends are yes so Google Trends is a a website owned by Google it's a free tool owned by Google it's um it's it's a way to measure analytics on products so if you go to Google Trends its products celebrities countries you can go and type in anything and it's going to show you like historical charts and analytics on that thing if you go to a movie to show you when the movie was created how long the movies been out how many sales if you go and put a product in it'll tell you the first time the products showed up how long it's been around how many people on Google are going to type for this product and the reason why we use Google Trends is because Amazon is the search engine just like Google and Google is the largest search engine so even though it's not Amazon direct metrics it's very similar and very close because Google is a huge search engine so we go and we find that data from Google Trends and that's what how we find out hey this product selling you know twelve months out of the year this product has depth of market meaning it didn't just spike like the fidgets spinner like if you go and type this product and you're gonna see for the last ten years it's been selling every single day it's been selling every single month so we want to see a nice horizontal chart when we look for products that have high demand low competition there's no exact metric that's gonna say like hey this product has high demand low competition when we want to look for is we want to go directly to Amazon and type in the name of the product and we're looking at all the different sellers we want to see how many of those sellers have under 100 reviews have under 200 reviews that are still selling you know ten plus units a day if you're selling ten plus units a day that's 300 units a month so that's like the bare minimum metric I look for so that would equal low competition and that's how we identify if it has high demand low competition right another way is there's something called be SRO which stands for bestseller ranking if you're on an Amazon listing and you scroll down you'll actually see category and then sub categories so category may be home product subcategory may be lint roller right and then it'll have a number next to it that's the BS our bestseller ranking so that's based out of a million out of let's just say there's a million sellers it's based out of all million sellers so if we look at that listing and it's number ten that's one of the top-selling products so we'll look at that competitor we'll look at what they're selling how many units they're selling to make you know to make a statement as to does this product have high demand low competition so interesting I just learned something so I was wondering what actually that meant to be a private-label but that's really interesting so the private-label is you pick a nondescript item like a lint roller which nobody really knows who makes lint rollers right so now you put your private label on that which is x y&z lint rolling company so you get the lint rollers from China some warehouse in China and now you actually brand it with your company your logo whatever XYZ lint rollers you put it on Amazon and then they buy it from Amazon so you never actually get receipt of the product it goes to Amazon's website directly from the warehouse we never touched it they could be us they could be China wherever it wherever we never touch it and then when somebody goes to Amazon and types in lint roller your product shows up on the first page if you can make it to the first page we'll talk about that and nobody ever kids like what the company is that makes the lint roller right they usually just go for like the lowest priced item I think's or rather you know the best reviews or who has the most star rating or whatever and it's a variety of different products like that like lint rollers those things that you like stuff into your shoe to like form your shoe nail clippers like there's all kinds of stuff that she's really nondescript a couple weeks ago even toilet paper and nobody cobot told people peoples going on Amazon about talking not really trippin off of like they gotta be Sherman it's like at this point you just get whatever you can get so it seems thinking about it the more and more I think about it I just think of different nondescript products that doesn't really matter what the name of it is because nobody ever even knows the name of these products its interests I never thought about that before so this is crazy so how much money can you actually make in this business because now I'm actually interested this is extremely interesting um how much money can you make on average I know it probably varies but on average how much money can you make I'm interested yes so what we recommend what we recommend is nothing less than 30% net margins sown it is going to be after everything said and done grouse would be like the total number net is that keep that number that you get to keep so we like to shoot for thirty as the minimum typically it's going to be around forty to fifty percent but it depends on the product depends on the time of the year towards the end of the year you know price is gonna be a little bit higher on logistics on fulfillment fees just everything but typically we like to see between thirty and fifty percent profit margin this is after we buy our product after which is the co G or cost of goods after we ship our product which is logistics after Amazon stores our product because we're paying fees after we sell a product they pick it they use everything after everything's said and done we want to make 30 to 50 percent profit so if we're selling a product for 20 bucks we want to keep six dollars and if you could be around thirty three percent which is right around that bare minimum number every three units you sell you're doubling your money so that's how you could really you know start to grow and scale yeah this is so crazy because for so long we've been taught like having generic things is not the thing to do right and this is a prime example of yes this could be a big business of having generic items well my question is what's amazon's cuts like i know they take a percentage what's that cut in this deal yes so it fluctuates they're constantly changing like how much they're charging a reference to their referral fee but it's typically right around fifteen to twenty percent of the product cost so if you're selling the product for twenty bucks they're gonna take you know they're gonna take four bucks but that's everything storing the product shipping the product facilitating the products that's the referral fee and everything and like i said on top of their fee and the product costs and the shipping and the advertising and everything else we still want to make that thirty to fifty percent profit margin because we're going directly to the manufacturer we're not going to a middleman we're not going to someone who's wholesaling these products we're not going and buying products at a discounted rate we're going directly to the place where they manufacture it where the large brands go we're going where Nike goes we're going where beats by dre goes we're going with all the top guys go and we're getting it manufactured so that's how we make our money and that's how we get our margin where it needs to be that's interesting because I always kind of knew that the money was in a nondescript items good if you think about it like let's take something like a refrigerator the average person might buy three maybe four refrigerators like in their entire life like lifetime they might buy four refrigerators in that side of life maybe not even that much but you pick something like a lint roller or you know q-tips things like that that's really current yeah it's reoccurring thing you might buy a hundred lint rollers I gave you out it's the secret sauce this is the secret sauce right here the reason why a perfect product let me let me just break this down so I like products that are lightweight so there's two different products there's lightweight products there's oversized products so lightweight products would be something like this oversize would be the chair I'm sitting in so lightweight products are cheaper to manufacture cheaper to ship cheaper to facilitate number one number two the reason why this is a beautiful product is because this is a usable product so I like consumable products usable products in giftable products because people continuously use them so if I buy like let's just say this desk that my computer sitting on I only need that once and that's it it's said and done this let roller once you run out of the tape you might buy the lint roller set but once you run out of the tape you need to tape again or if we have a giftable product that can be gifted for a man or a woman guess what there's birthdays Father's Day Mother's Day Valentine's Day graduation they're constantly being given another example is supplements supplements are very small very cheap to make very small very cheap to ship very cheap to fulfill and guess what at the end of the 30 days you need it again so you can actually have a subscribe and save meaning it's a continuity package people will order it they get it every single month so some of the products I look like I'm in the beauty really big and I'm in office in the office products very big because these are products that you constantly use that you need to reorder so I'm constantly thinking like we don't want it one night stand with our customers we want the marriage and so many people focus on that one nightstand light how can I make the most amount of money on the first touch or what's the product that people are going to buy a lot of on that first touch I'm thinking down the road what's a product that you know may not crushed on the first touch but they're gonna be locked in and we're gonna have a marriage they're gonna need it every single month for the next year the next two years next three years and that's something like amateurs they monetize the front and experts in this business they monetize the back they don't focus on the one-night stand it's that marriage there you have it ladies and gentlemen a whole lot of game a lot of game so we gave you the 101 so in the next segment we're gonna go over some steps to get you up and running so you can get started all right yeah so in this segment we're gonna actually go over the steps actionable items but you know I was just think about it that just really makes a lot of sense and sometimes the simplest things just mind-blowing and it's like I never really thought about it but it's like makes complete sense like nobody ever who looks at the brand name of a lint roller long as it works now yeah it's what all the big guys are doing beats by the offices is a private label product this is made in China these are made for $16 and he's selling them for $200 why because of the brand name so the whole goal like I said like Kleenex like everybody like yo hand me a Kleenex that's not the name of the product that's the name of the brand you see what I'm saying like the q-tip is not the name of the product it's the name of the brand so you want to become a category king like Apple is a category King beats by dre as a category King right so that's that's basically all they're doing like if you look on if you look on the bottom of an Apple product it says Made in China you look on the back of these made in China so they're basically finding products that people need everybody needs to listen to music everybody needs to clean their ears and they're slapping their brain on it right now now that not everybody has a huge brand like Dre but if you create a good product good customer service you can become a category king because you know beyonce is not going to go drop some q-tips right like I sell a lot of office office products I'm crushing it because there's no huge brand that's taking it on like you're not gonna see jay-z you know student or Kanye doing a line of binder clips you know what I mean a three-ring binders so if you go in there and then you serve these people and you're making sure that you're reading the reviews of the competitors and you're making it a better product you're making it a more affordable product and you're doing all these things now you become the category king and people I want such-and-such which is your brand so that's what we do and it's like it's the most sustainable business model like people ask me all the time like yo is Amazon dead like so many people are starting to sell on Amazon is Amazon dead is this saturated can you still sell I'm like let's forget about Amazon which is the largest company in the world the founder is the richest man alive let's set all that aside what is selling on Amazon what is private label products what is this right there's a demand you need to hear your music so there's a demand for headphones I have the supplies supply and demand if you go back to the Renaissance period when there was castles and horses and sword fighting Knights needed swords so they went to a blacksmith the blacksmith made the sword they had the demand there was a supply and they exchanged rather be coins or they bartered so it was just a direct exchange of supply and demand so now times have changed and now we have computers smartphones tablets when we need something we go to the market which is Amazon Amazon facilitates everything they have everything any and every product you can think of basically except cars which soon they're working on that and we just go buy what we want and boom it's to our house two days later so when people ask me like is it dead I'm like no it's not dead this is supply and demand has always existed there's always been a need for items and this is just the most relevant most up-to-date most user-friendly and effective way to purchase products like even during a pandemic if you need something you don't want to go to the store you can't go to the store you go online less than five minutes it's bought and then less than two days is to your doorstep did you just said was that was crazy that's actually extremely extremely important Sachin was like everybody not everybody but a lot of people are private label companies and it's like you use the example of beats by dre so it's like yeah if you don't really necessarily have your warehouse well you're actually making products yourself which almost nobody really does you're getting it made somewhere else and then getting it shipped and then putting your logo on it essentially you're a private label company right and it's like the only difference is that like a beats by dre has celebrities that endorse the product and they have dr. Dre's name on it and you know all of these different things is a billion-dollar company now but in essence the core business model expressing at the beginning stages I'm sure is kind of the same thing so that's just really crazy nice that's interesting if you really think about it everybody's a private label absolutely so peep game there's three different ways we talked about arbitrage where you go to Best Buy and you get something at a discount and you sell it for the MSRP and keep the difference right that's arbitrage you have wholesale where I go and find companies and I have them sell me the product at a discounted rate at a wholesale price and I become a distributor and I sell it at an ma P which is minimum advertised price so that's strategy number two and then there's strategy number three people call private labeling which is what I just explained right but if you think about it the distributor the wholesaler who's wholesaling you the products so you can become a distributor has a private label product that you're becoming a distributor of and if we arbitrage products where we go by private label products of large brands at a discounted price and resell it at that MSRP and keep the difference what are we doing it's just a different form of private labeling so what we're doing is we're cuddling cutting out the middleman we're not going to a wholesaler and becoming a distributor we're not hoping that we find products at a discounted price and sell it for that MSRP we're just finding the products that the big guys need or big guys are selling we're making our own sending it directly to consumer and we're making all the profits like so many people say like I don't want to get started with headphones because beats by dre are the best beats by dre or not the best or the well known they're the most well known you can go directly to the same factory and make the same headset more affordable and actually improve it and still get sells and still get sells like I'm competing with Amazon I'm competing with some of the largest companies in the world and people have this misconception I can't compete with them why not adidas competes with Nike same stuff same supplier made in the same country made out of the same fabric different brands different uses so what I do is I literally look at these products what is the pros what is the cons what people love I don't change what people hate I implement immediately and because I'm such a small company and so hands on as a private-label seller we can dive deep and become obsessed with making this product the best that it can it can be you know once you have a product that's crushing it even though they have huge budgets huge teams there on research and development for more products they're not worried about making this the best of the best so like when you're hands-on and you become obsessed as it's all your money you can literally dive in and make this thing you know make this thing great and that's what I do like if you look at Peter Thiel on a co-founder of PayPal right with Elon Musk and they asked him like how did you revolutionize the payment processor industry and he said dominate the sector control the space so instead of going wide I'm going small I'm going narrow I'm focusing on that one thing instead of hundreds of skews I have only a dozen SKUs but those dozen SKUs are household names I'm trying to dominate the sector and control the space like I explained like tissue paper with Kleenex or q-tips with cotton swabs they dominate that sector and then zig Zigler one of the best marketers alive he said when the market zigs you zag so I'm doing the complete opposite people were racing down to the bottom trying to be competitive with their pricing my pricing is higher and I'm selling more and making more money why well why is Apple one of the most commonly purchased consumer electronics products and it's 60 to 80 percent higher than HP Dell and all the other competitors why because the consumer product experience is that much better the quality and the product is that much better than the customer buying experience is that much better the customer support is that much better the packaging is that much better so I always tell like my students and people who I'm helping when you're thinking about products we're thinking about product packaging when you're thinking about customer experience what would Apple do you know like the WWJD what would Jesus do what would Apple do and if you followed their entire model you can't lose that albatross process and and correct me if I'm wrong but it reminds me of the kid who goes to Walmart buys water right goes outside and sells it at a discounted price and keeps the profit from what he originally bought it right am I getting that correct okay you basically a middleman you go into the plug you get in at a discount because you buy in bulk and then you trying to sell it's the same so arbitrage and wholesale is the same exact thing the only difference between wholesale and arbitrage is arbitrage you're buying like I'm gonna go let's just say Black Friday beats by dre is 50% off I'm just throwing some of them out there I'm gonna go buy a 10 of these weights of Black Friday is done in selamat MSRP which is manufacturer's suggested retail pricing and I'm gonna keep the difference wholesale is where I go to a private label company like let's say that I got this brand and I'm crushing it and you wholesale and you you want to add to your catalog you come to me like yo I want to buy 10,000 of them units and be able to sell it under your brand you're not creating your own brand you're just asking for a licensee agreement so now you have the rights to resell my product and I'm giving you a little bit of love and that cushion in the middle is what you makes so now you're the middleman private label you're the plug you're going right just like Frank Lucas did you're going right to the jungle you're getting the stuff you stamping it with your logo and you said it right to Amazon Blue Magic was an ey o is our stamp that's a phat best product on a block for sure so let me ask you this because you know my whole thing has always been a hundred thousand like hey if I'm looking at a business well if I'm interested in the business I want to know does it have the ability to make a hundred thousand dollars a month not to say it's gonna make a hundred thousand dollars a month like as soon as you get in but I just want to know that I could potentially make a hundred thousand dollars a month if not for like I'm wasting my time it's just my own personal take on it so that's how it gage anything is like is it able for me to make a hundred thousand dollars a month in it so being a seller on Amazon a hundred thousand dollars a month is it is that reachable and if so like what does it take to make a hundred thousand dollars a month selling products on Amazon absolutely man like success is math so you just got to break it down like if you want to make a hundred thousand a month how many products you got to make right so thirty units a day and ten dollars profit is how much 300 dollars a day right if you times that by 30 days in a month that's around nine thousand dollars that's with one product you want to make a hundred G's profit a month you need nine more of those products or you break it down how many units do I have to sell per day of one product and when you go and do the research inside the software there's tons of different softwares where you can find these products you just go and you input that data it's hard to do it without showing you guys but if you need to sell 100 units at $10 profit to make a thousand dollars a day that's thirty thousand a month you go and say hey I want to find a product that is selling X amount per day X amount of units X amount of profit and then you just reverse engineer it right success is math you just break it down it's that simple all right so let me ask you this because I actually googled it and I got a list of like some steps that beginners can take to get up and running and it was a list of like seven different steps so they said the first step is to create an Amazon seller account the second step is to pick a niche the third step is to research products the fourth step is to establish product sourcing and then you have to establish a brand then you have to create product listing and then you have to market your products so those are the seven Commandments according to Google does that does that sound about right how do you feel about that so let me intervene step number two says pick your niche that's the opposite of what I teach I always teach my students that you want to lead by data not by emotion if you're picking something you're picking it because you think it's gonna do well and you're not going off of the data so many of the mistakes I see my members and new Amazon sellers make is they try to lead with emotion that with data perfect example men that are into fitness they always want to launch the next supplement the next workout gear so on and so forth women that are into beauty they want to be the next kylie jenner and even though they're passionate about it and they love it that's not the smartest most advantageous product to launch so I always tell people just start with an open slate do the product research because some of the most profitable products that you're gonna make a killing off of our products like this that you would have never in a million years thought about launching or you're not passionate about but they're making all the money so I always tell people lead by data not by emotion so yeah you want to get create your Amazon seller account you want to start with an individual account it's absolutely free we don't change that by clicking a button to professional account until we have our products actually being checked in because if you have a professional account it's 39.99 a month we don't want to pay that money until we have products live number two is we want to get right into product research it's the most important aspect of the entire business we want to find these products that are gonna sell 24/7 365 we want to find these products that are not seasonal products meaning they're gonna sell 24/7 365 that are not trending meaning that it has depth of market if there's volatility or there's no sustainable track record of sales that's risky we don't want risk we want to make a lot of money and again we go to Google Trends for both of those a free resource once we identify all those things we go to the supplier we find the supplier we want to make sure that we're going to be able to make that margin so we're going to use a free tool called the FBA calculator it's a free tool that Amazon owns FBA calculator comm we're gonna put in how much is the product selling for how much are we gonna get it from the supplier and all the other fees associated with that and it's gonna spit out the profit margin after Amazon takes their piece of the pie so if it's below 30% we need to increase the price or decrease the purchase cost right so by doing that we can manipulate and get that profit margin to where we want to be the goal is 30% bare minimum 33% every three products you sell you double your money so if you put 10,000 in the product and you're at 33% every three products you're flipping that money right so that's the whole goal is to really just scale this thing and then the way that you scale this thing is by adding more products to your SKU you rinse and repeat once you get the first product it's all downhill from there because what I teach is the actual brand approach not the generic approach so the generic approach is where you have tons of different private label products you might sell this phone mount and then you might sell a calculator then the lint roller and have all these different products that's one strategy the more sustainable strategy that I recommend is the private label so we do a catalog so if we launch this product and it's in a specific category we want to launch other relevant products to this catalog and create our own catalog and the reason why I say that first product is it's downhill from there is because we already have the plug we already have the supplier so after that things up and rolling it's it's making us money 24/7 365 we go to the supplier and say hey send me your catalog of products and what other Amazon sellers are selling and we go through it and we do our research and they already shave time off our glass so then we find another product and we just rinse and repeat you keep stacking products and that's how you scale this thing all right so once we got our product we got our logo all that put together what are some of the upfront fries that we're going to need to get this product really out there and be a successful company no yes so the fees associated with starting the businesses number one the main fee is gonna be your product right because we're not drop shipping where people buy our product and then we pay the supplier afterwards we're actually we own the brand we own the product so the number one fee associated with the whole business is going to be your Co G your cost of goods now it depends because your product could cost a dollar it could cost twelve dollars but what I usually tell people when they're starting out is to start with no less than $1000 have a thousand dollars that you can allocate directly to your inventory now some people may say like hey I was watching on YouTube and reading blogs and stuff and they're saying like three to ten thousand to start your first product how can I start with only one thousand what I do with the amz formula what I teach people is how to micro launch products so logically what you would do is find out how many units you're going to sell per month if you anticipate that you're going to sell a thousand units a month and your unit cost us three dollars that's a three thousand dollar lunch because you don't want to run out of inventory but what I've learned through trial and error with my own brand and through helping you know thousands of people around the world is that there's no software that's 100% accurate and there's nothing like actual factual buyer data directly from Amazon so we don't put all of our eggs in one basket and launch 3000 units or a thousand units will actually order twenty to thirty percent of the inventory that we anticipate on selling for that month we'll get it to Amazon as quickly as possible because success loves speed and we'll test actual buying data from consumers and if it sees that we're getting consecutive days like three to five days consecutive sales of what we anticipated on selling then we make that backorder but if it's not then we liquidate it and move to the next product and this is like my proprietary system this is how you profit off a failing product so many people put all their eggs in one basket but if you drop the basket all the eggs are gone so instead of putting all my money in one product we'll micro launch three products at once or well a collage that one product that way if we get it to the marketplace and it doesn't perform the way we anticipated we can liquidate that product at a profit and move to the next one because you got to remember like so many people ask me like what's the worst that can happen with their product like a failing product or losing Amazon product what does it look like how much am I going to lose what's the worst-case scenario and if you do this properly and you cross your T's you dot your i's and you do that product verification and validation that we discussed the worst thing that's going to happen is you're not gonna sell enough units daily to reach that 10,000 profit a month for 3,000 profit a month whatever your anticipated on it selling it makes me one here too there it may be inconsistent but you have to remember you're still at that 30% to 50% profit margin so even though it's a loser because it's not making us what we wanted to make it's still profiting and we only have a specific amount we don't have an abundance of units that we can't get rid of or that's gonna take a long time to get rid of that's gonna lock up our capitals so we can liquidate it profit on the liquidation of that product put all the proceeds into another product and just keep testing until you find that one that's gonna have consistency so you mentioned something earlier where you said you know there's different software that you can use to actually find out if a product is gonna be actual good seller or not so I know that's something that you know it's probably my biggest question and I'm sure a lot of other people's question as well so how do you determine if it's going to be a good product like what are some of those software's or websites that you were referring to so there's a combination of a few things using Amazon's direct website using the free resources that we talked about like Google Trends free FBA calculator to determine the seasonality the trend the profit margin but there's many of different software's like I personally use jungle Scout there's dozens of different software's that are relatively inexpensive like between 30 to 50 bug niche hunter is that one niche hunters one there's there's tons of them viral launch viral launch helium 10 jungle scoffs when I personally use there's tons of different software's out there and what this does is basically take all the data that's on Amazon and compiles it in front of a unit user face write an interface so do you do all that manual stuff to see is the product trending is the product seasonal is the profit margin there then you can use this software to actually pull up hey this is wrong this is all the sellers this is the average reviews this is the average amount of sales so you basically want to compare the amount of sellers the amount of revenue to the amount of reviews so one of the like the telt telltale ways of seeing if a product has high demand low competition it's comparing the reviews to revenue so our bare minimum is we want to see a majority of the sellers selling a product at 300 units per month that's 10 units per day and we want that profit margin to be around you know 30% like we mentioned and we want a majority of the sellers to have less than 200 reviews so if you see a bunch of sellers who are selling a crapload of products per month you know 100 200 300 a thousand units per month but they all have to 3,000 reviews that means that there's a lot of OGIS in that industry there's a lot of people that's been selling that product they have established a track record with that with that industry people prefer that brand just like Colgate like if you go on a tube toothpaste it doesn't matter if you're cheaper or you're better people love Colgate they're not going to try the new guy right so that's how we establish does that product have high demand low competition is a lot of sales a little bit of reviews yeah so now that you have the product and you're registered on amazon.com what's the process of getting it to the front page because that's what everybody sees right all even in the first two pages is there like a SEO strategy that you can use yes so SEO is search engine optimization and that's a good question so a lot of the money like I said Amazon is the search engine just like Google so the main goal as a seller is to get your product is high to the first page as you can and the way Amazon their whole algorithm works it's very simple if you're the number one guy in the world and you're selling 100 units a day I just need to sell one more unit than you for a few days in a row so all we have to do is run we can do giveaways and there's so many different tools we can run giveaways we can do influencer marketing we can do PPC which is pay-per-click and a majority of this is all within Amazon seller central we can do this all within Amazon the only one that I use that's very effective that's outside of Amazon which we were talking about is influencer marketing and this stuff super it's super simple like and 2018 Jeff Bezos had a letter to shareholders that said that sales like third-party sellers are kicking first party sellers butts so people like me are kicking Amazon's actual brands butts and other huge conglomerates and brands butts because of the powerful resources that they're dumping millions of dollars into so like I don't know if you guys ever tried to run Facebook or YouTube or Google Ads they're complex they're difficult the whole user interface is difficult and you got to know what you're doing with seller central like you can set these ads up in a like in a minute or less there's a few buttons and you click start it's not as complex as Facebook or Google and they're very effective and we're able to literally take our product that no one knows about that barely has any reviews and push it to the top of search results by this paid paid advertising and then my secret weapon is the influencer marketing so this is the only thing that's done outside of Amazon and basically it works like this I use Instagram because a lot of people know me on Instagram you go into the search bar let's say we're launching a yoga mat you type in hashtag yoga and it's gonna show all the hashtags and next - it's gonna show the number which is the amount of actual searches and posts you want to find that keyword that has the most searched search volume or post volume which means it's the largest and most impression based keyword meaning people were basically searching for that keyword so it's gonna be hashtag yoga we click on hashtag yoga and we scroll through all the feed and we just start clicking on different posts to find influencers so influencers someone who has a special following in a specific category so we want to find someone that has over 10,000 followers and the reason why 10,000 10,000 is the magic number is because on Instagram if you have over 10,000 you can do a swipe up story meaning on their story you can swipe up and send them directly to a website so we want to reach out to them by hitting the message button which is the DM right yoga he made that famous you want to slide into their DM and just say hey my name is Josh I'm getting ready to launch this yoga mat on Amazon I love your page I love what you're doing I'd love to give your audience a discount on my product which is an amazing product and I'd love to work with you and they're gonna be like yeah sure awesome send me 30 bucks via cash or via PayPal send me your link and some of your content so you send them a picture you send them the link to your Amazon store they post it now people who love yoga who want to buy a yoga mat or going directly to your Amazon store to buy your product and remember all we got to do is sell more than the other guy a few days in a row to kick his butt and move up in the search results and that's what we do man that's the whole strategy yeah yoga mats another good one um yoga mats a huge one another product where nobody cares who makes the yoga mat I haven't ever seen anybody that's tripping off of the designer they're not looking for Gucci yoga mats so let me ask you this I think you might have access already but I like to ask questions twice sometimes to really double down for people that are slow learners like myself this is this is the big this is the big one a Wi-Fi wondering what's the budget that you actually need to get started in this business yeah so I highly recommend obviously the more that you have access to the better but I recommend nothing less than a thousand dollars to micro launch and test your first product also here's another thing I'm an avid practitioner of opium which is other people's money so even if you have cash burning a hole in your pocket or your bank an account but you have a 0% interest credit card or you can go sign up for a 0% interest credit card use that because there's free money for the 12 months plus you're gonna get the bonuses and the benefits so on and so forth so like I said a thousand dollars to get started bare minimum definitely use lines of credit business business lines of credit or just credit cards that's what I do I'd never use my debit card I personally use the gold AMEX card because we get Forex points on two different categories so the two biggest categories that the money is going to be spent with your business is number one sourcing products and number two advertising so with that gold Amex business card you get Forex two points on two categories which is products right sourcing products manufacturing products and then your advertising so I'm using that and I'm like people see me traveling around the world like them flights are free the hotels are free and I'm doing it all off my Amex points yes I know you mentioned Alibaba as a potential manufacturing partner are there any other that you would recommend or you notice out there that are pretty good yes so Alibaba is a website it's like a broker that and then it's like a it's almost like Amazon so Amazon is not the seller but they have sellers underneath their platform Alibaba is not a direct manufacturer but people who are manufacturers go and list underneath Alibaba there's a few others like DHgate and Aliexpress which is a subsidiary of Alibaba but Alibaba is the largest and it's gonna have the best prices it's direct b2b business of business don't so that was a lot of information but I just got one last question before we go on to our last segment virtual assistant I saw you mentioned that on your YouTube channel can you just give some information on virtual assistants and how you actually utilizing that yeah yeah so VA or virtual assistants are like another secret weapon in my business because the whole thing is I follow this strategy is called the ASAP right so ASAP is an acronym stands for autonomous sustainable action and perpetuity so I'm always trying to find these four things and actions in there because faith without works is dead you got to take action you're not going to get any results right so I'm always trying to find out ways to automate and delegate and not participate and that's what if you go back to the beginning of this story like my first mentor is always talking about touch it wait wait wait hold up hold on say that again you said automate delegate and not participate yeah I'm trying to find ways to automate in delegate and not participate I'm always asking myself is this the highest and best use of my time and energy like you want to become a millionaire you got to think like a millionaire you want to become a billionaire you got to think like a billionaire and they're always they value their time more than anything and they will trade money for time ten times out of ten so I'm always thinking of ways to scale the business and scale the velocity and the volume in our business without scaling the amount of energy and time it needs from me so the way I'm able to scale my company is by taking the reputations duties that need to be done and by outsourcing it for pennies on the dollar for employees so many people think that you know they got to do everything they got to wear every hat because they can't afford to hire an employee but there's VA s and all the top companies fortune 500 companies like GE like Apple all these large companies they use virtual assistants and a lot you guys who hear this right now you're gonna be like like like man I was on the phone on customer support with this large company and it was someone who barely spoke English and that's how they're able to do this is by using these vias which are employees in other countries so the best country that I have found that it's not only very very affordable but they are very loyal and very hard workers is workers out of the Philippines so you can go to online jobs dot pH and you can hire virtual assistants to do daily tasks to help you with your business anywhere between a dollar fifty per hour and five dollars per hour depending on what they're doing a majority of my virtual assistants are at two dollars and 50 cents per hour USD they work forty hours and the beautiful thing on top of being able to hire people in your company who are loyal and hardworking is if you're in America and like right now it's 12 o'clock in the afternoon well in the Philippines it's like 12 o'clock at night or 8 o'clock at night so while I'm sleeping with our other employees in other countries are actually up working so now our company is operating 24/7 365 instead of 12 hours out the day or eight hours out the day so that's two key components to scaling is number one you're able to automate and delegate instead of you actually participating doing repetitious stuff because if you're doing repetitious stuff that's that you can easily delegate you're working for your company and not on your company so and this took me years like I've made millions of dollar cross my three companies I've made millions of dollars and it was a combination as as entrepreneurs we're control freaks it's like our baby it's like our child like we built this thing up and we want control of everything so it's hard to give it to someone else knowing they're not gonna care for it the way that you would they're gonna treat it you know what I mean they're not going to treat it the way that you would so it's difficult but on the other side of that you have to understand in order to scale that you have to be able to delegate and that's like a key thing like you guys got to focus on working and working on your business instead of for your business so now like I'm an avid believer in the 80/20 rule I tell people this all the time 80% of the profits 80% of the momentum 80% of the results comes from 20% of the effort and now I can get more done in less time now than before when I was following the Gary Vee like I was work 16 hours a day 20 hours a day hustling and I would literally get depressed if I didn't fall asleep at my computer because I thought I wasn't doing everything I could you know to accomplish my wife which was helping my family out like I told you guys but now you can work smart not hard and by being productive there's a huge difference between being productive and being busy see I thought being busy was being productive now bite-through time management and virtual assistants and you know just keeping track of everything and using software's like slack and Trello which are management tools I'm able to be productive and accomplish way much more in less time which means I could spend that time with my kids with my wife or working on other things not I was powerful man I was a lot of information a whole lot of game so we got to bring it home in the last segment alright so in the last segment we're gonna talk about education and you know it's really weird because we bring a bunch of people on the podcast in all different walks of life and all different businesses and you know the one thing I always were puzzled about is that people like spend tens of thousands of dollars in college and they learn from business professors that most of the time the people that are teaching these professors teachers they never actually did what they are teaching everybody could tell you how to do it they never yeah it's just study business so they teaching you about business but they were never in business themselves right but you never really think to question your college professor about the nonsense that he's teaching you and then it's like an entrepreneur who might not even have a college degree but is a millionaire who's made a bunch of money who's successful in their business and they start a course to teach other people people are very skeptical about that like I see that a lot especially online so it's just interesting because I feel like you have to invest in in your business and we talk about this all the time and I feel like no matter what the podcast is a great resource and YouTube is a great resource Google is a great resource but if you're really serious about starting a business like if you have no idea about anything at all and you're just trying to become you know a trucker even you know four hours of a podcast probably isn't enough and you probably want to pay your $1,000 $2,000 to actually learn how to do it right so but it's still interesting because people don't really pay a lot of time for education and they make you make way more mistakes when you don't pay because now you're just paying with experience in time whereas if you actually paid and went through a proper educational channel then you actually become a success yeah cuz that you pay for their mistakes yeah it's the same like I said it's the same thing with school people have to look at it from school I think which is trained that we feel comfortable school because that's like tradition and that's what we're used to whereas like you know untraditional forms of learning like learning from algebra nor stuff like that a lot of people are kind of skeptical and they don't really believe they want to like do it themselves but it's like would you just say okay I watch YouTube for a dot for an hour now I can be a doctor but probably not qualified to give open heart surgeon or deli houses here yeah probably I go to medical school so and I always realized that for me entrepreneurs that teach people they're interesting too because it's like they make money and their business already they don't necessarily have to teach of course teaching as a business as well we never apologize about making money that's the whole point of any form of business you should always get paid for any service that you do as long as it's done well but I'm just curious to when entrepreneurs decide to teach other people so you you're interesting because you come from humble beginnings then you made a boatload of money you made millions of dollars so at what point did you decide that having money and being successful wasn't good enough and you wanted to actually start teaching because you have a whole educational portal and you teach people how to do this so yeah what was your thought process in your journey into doing that yeah absolutely so I first and foremost I understood the severity that a formal education will earn you a living in a self educational earn you a fortune the only difference between where I was five years ago in 2014 the beginning of 2015 making bare minimum wage not being able to barely survive and put a roof over my family's head or food on the plate and now where I am self-made millionaire before 30 the only difference is the information right and I understood that information changes situations but only through implementation I understood that that was the lack the reason why people love school is because you're in a school setting and you're forced to actually implement that's why so many actual entrepreneurs fail is because when they get started they give up too early so the one main word that made me want to get into the educational space and start teaching with amz formulas impact right the amz formula was my formula I created it for myself you know it's made me millions of dollars so I knew it was tried-and-true because I was doing it myself and the reason why I got into the space is because impact not because of the income because my real estate my actual Amazon business my other businesses generate my full-time income and to be completely honest the education actually cannibalizes what I was telling you guys about spending less time and making more money because my education requires more of my time than my other businesses they're generating income 24/7 365 but at a certain point in your career you have to understand what impact is and what self fulfillment is see so many people they don't have X amount of money or they haven't accomplished enough things on their bucket list so their main priority is money because they think that I'll end everything and be in 27 28 years old self-made millionaire I crossed everything off on my bucket list retired my mom's retired my wife set my kids up with trust funds travelled all around the world money in the bank 40-plus investment properties and I found myself sitting in my living room like severely depressed almost contemplating suicide like whoa like what do I have left to do what is left to do I did everything and so many people think that money buys happiness and I'm telling you I bought everything that I ever wanted that I ever dreamt of and I was depressed man and it all boils down to happiness comes from within it comes from within and things that you do that self fulfilling so it was until I remembered me praying to God literally like God show me something other than the street show me something other than what I'm doing to help me change my family's life and I'll do whatever like I remember like trying to barter with God like me out and like then it just clicked and I had an epiphany and I say you know what let me just start a personal brand when I started my personal brand I did it with zero intention of creating software creating an online educational platform and nothing like that I just wanted to give my gift away and I wanted to be a blessing to others and it so rapidly grew that people off the information I had where their lives were changing all around the world and it felt good like it sparked that it sparked that feeling in me when I had my first sailor when I made my first million it sparked that spark again and I was like wow maybe this is what I was meant to do so the rest was all downhill from there I've been teaching people and literally we have students in 63 plus different countries thousands of students and I do this because of the impact not the income so and I love it I'm passionate about it if you can't tell by this podcast now like I said you know I'm a big proponent in education and all forms of education I'm not inside formal education but I just feel like you know a lot of times especially in this country we're only taught to think that the only way that you can actually learn is through the traditional school system and I don't know how many times we have to realize that school system is broke in the home you know unfortunately for the vast majority of people that's not gonna be enough you need to learn outside of that and that's even while we have my own University and there's a bunch of other platforms but you know it's really interesting like I said if you really think about it people won't bat an eye at taking out student loans and you know ruining their future for Monday that they don't have leverage and if you pay for a degree that will amount to nothing you know communicate a lot of times the reason why I say communications degree is I have new communications exactly he's speaking first in I'm lucky enough to not have to use my degree I'm an entrepreneur but so I'm not bashing my dad's communications degree I just I have a communications degree and if I wasn't an entrepreneur I'd be royally screwed right now so you know what it what is it as far as that is concerned because yeah you know you have a generic degree like communications or something like that philosophy and you go out in the world and you get a piece of paper and it's like good luck and you know let's hope that it works out for you really that's all it is right right people people often say it's a scam you know it's a scam and this because it's going against the grain it's going against the norm you're gonna get resistance whenever you go against the grain but we were talking earlier about just being able to do this and why like I was telling you what my family and even my parents were saying about this you know our generation before us and the generation before them didn't have this opportunity it did not exist so when you're going against the norm when you're going against the grain and there's a new opportunity and it sounds too good to be true people think that it's a scam because it does sound too good to be true everybody there was two ways you get an education or you learn a skill set you're a doctor or a mechanic or a construction worker or you that's it that that was that was basically the options that the people before us our parents and our parents and our grandparents had there was no other options my grandfather worked in the steel mill lost his hearing you worked there his entire life you know a lot of our parents work at the same job and then they retired now things have changed right communications have changed electronics have change and the opportunity has changed along with it and just like you said going back to the school I just think it's crazy that so many people like we call it the 40/40 plan so people literally spend forty thousand dollars working forty years of their life to retire on 40% of what they were making while they were working and that's supposed to be okay if you ask me that's a scam because the person you're learning from the professor you're learning from is not invested in your well interests their name is not associated to the curriculum that they're teaching and nine times out of ten man to be honest that curriculum is outdated and it's impersonal like I believe the reason why I dropped out of high school wasn't because I was bad or I was dumb I think that it's not fair that you throw thirty forty people in a classroom that all have different learning sets and different learning preferences and you forced them to learn the same way I don't think it's right and that's why I like you know the only difference between where I was and where I was now is learning that skill set like if you want to increase your income increase your skill set it's that simple so I'm a I'm a practitioner of Education mentorship all the time I'm constantly flying around the world to learn from some of the best it's the fastest way to fast track success like if you want to fast-track your success and learn something you just learn from someone who's done it it's like the GPS like when we travel I get off the plane and I'm somewhere I don't know where I'm at I enter in the instructions to the GPS to my hotel why do we use a GPS because it's going to take us somewhere we've never been with no confusion we're not going to get lost we're not going to waste gas it's the same thing like education is the GPS to start in that business and being successful yeah it's tough to argue with child and when you're talking about education man as somebody who's in the profession man which I'm saying is a 1,000 percent right but I'm interested in knowing how you were able to scale this right so I know you started out with a twosie in Amazon and now you have the Amazon formula what was your methods to scale in this business and growing it so fast you went to 63 countries over 10,000 students you made millions well what was the strategy so the way that we scaled the education piece is just through literally focused before we scaled and we allowed the company to scale we focused on the consumer and what the consumer needs and since this was an education business that was based around something that I've already done I knew exactly what she needed so it was just dialing in on making sure that everybody got the attention that they needed letting in beta students going through the program going through the entire process helping them get results and then getting feedback like one of the main things that we do that a lot of people don't do and I thought it was I almost didn't do it I thought it was fluff and I was like I don't know if I should do this is and a lot of mindset stuff to the program we had a lot of mindset stuff to the program another way we were able to scale this and get have such a high student success ratios because of the live coaching instead of just a portal or a program that you go and you know good luck there's actually live chat rooms that are active 24/7 365 there's live bi-weekly coaching so like the coaches and myself everybody was literally getting feedback from everybody when somebody was stuck or became complacent we got that feedback and then we added systems we added curriculum we added different modules different areas of homework things to help those people so just perfecting that over the last few years going back diving into everything dialing everything in is how we were able to scale and once we have the infrastructure set up and our success rate was where we wanted to be then we were able to scale it and we scaled it through through web classes through presentations through speaking and just throughout my personal brand so what are you teaching your program like if somebody enrolls in a program what are the things that they learn and what are the steps that are provided to help them get up and run it yes so the amz formula is perfect irregardless of burea beginner and you're just starting and today was the first time that you ever heard about Amazon or if you're already at five figures and you want to get to six or beyond seven right because it teaches you everything in a chronological order just like a book so you start with the introduction the acronyms what is the business how does this business work then you move on to product research from product research we go on to verifying and validating the products then we go on to the next setting which is going to be how to find the supplier how to contact suppliers how to negotiate how to make sure that you you know your money has secured your investments secure that you're not getting scammed the entire the entire process then we move on to getting our products checked into the fulfillment center and doing the micro launches where we spoke about the proprietary section on how you can literally profit on a failed failed product using this strategy we want a micro launch instead of doing the opposite of we're literally doing the opposite of what everybody's doing instead of getting our photos professionally taken and spending a bunch of money we're getting it to Amazon as quickly as possible to get real data once it passes the micro launch then we move on to skyrocket and scale which is how we literally scale that brand and we scale our business by ordering more products reducing the product costs by renegotiating increasing the quality through pictures through branding using exterior branding methods like influencers that we talked about and then we talk about the longevity aspect so every business should have a plan and this is not a hustle and this is why I told you guys I fell in love with this business I was tired of hustling this is a real business so irregardless if you want to leave this business to your kids grandchildren whomever or you want to exit it you need to have that strategy so we share with you how to get an evaluation for your company what you need to do to actually increase the evaluation of your company and make it a legitimate come your URL your trademark your copyright the entire thing and then actually where to go to sell your company if you want to sell your company so we literally from start to finish show you how what the business is how to start the business how to find the products and then how to exit that company down the road or you know how to set your company up to thrive in the future through hiring VA s if you want to automate this if your goal is just to make $10,000 a month or whatever it is we show you how to automate it through VA s if your goal is to replace your job and you need X amount of money we show you how to reverse engineer that and how to build it if your goal is just to create something that's gonna make some money to get into another endeavor we show you how to do everything so it's literally perfect for everybody at any scenario yeah I like what you said right there was like you know if you want to just earn $10,000 a month oh that's the kind of talk I like right there like that's like being minimum it's like what we talking about that's minimum that's minimum pay right there ten thousand a month and that's what we always say that's why I sell hundred thousand if it's not a hundred thousand total we ain't rockin with it so yeah if you just want to make ten thousand I like that that's that's the comma that's the kind of talk I love talk that's big-boy talk right there so all so yeah you know it's really dope because whenever you know we bring different people on and a lot of people didn't have courses and we always you know our number one priority is EUI l the community UI eternity so whenever we talk to people that have courses we always try to get you know a special offer if we can we need like it they got a discount going we need a discount plus some so you know I spoke to you about it and you know I actually like you know could you do a special deal for us and he was gracious enough so you know lower the price even lower than what it was and I think you have we have a special arrangement with UIL where we have a lower price and I think anybody else nowhere else on the internet can you get dumb your package as low as you're gonna get it from our link so I appreciate that because like I said you know we had a couple conversation I kind of just explained to you why you know it's important that we try to get the price as low as possible for our people and you know to your credit use a gentleman about it you had no and we worked it out so can you can you tell the people like did the deal because like I said I think we have the lowest price on the market right absolutely subspecialist so first and foremost like I was blessed and just humbled to be on here this is like an accomplishment for me to be able to speak and give back to the community because this is what I want to do so it was perfect timing when you reached out to me because we literally just rerecorded the entire program and relaunched the AMC Formula remasters so it's 70 plus videos two dozen resources bi-weekly coaching calls with me live that's 24 calls a week it's got we got a live chat room that's active 24/7 365 and the price point for the AMC formula with all everything that was in the remastered section is 1997 so what we did is we left it at 50% off for 997 but I said you know what 50% off isn't good enough we need to do something special for the eyl fam so what we did is we created the funnel move to everything separately and even got our own special domain which is EU IL FB a comm so on top of the 50% off we knocked another hundred dollars off which will allow you to go ahead and get started get your software and get you started from A to Z so it's WWE yl4 earn your leisure FBA for fulfillment by amazon.com yeah and we also have the link in the description if you're listening on app with Spotify the description there and then if you're watching this on youtube it'll be the description of this video and we also have it on our website or Alicia comm under our alumni programs tab you go to our leisure calm and go to alumna programs tab and then it'll be up there and once again I really appreciate you for doing that because you know it's imperative you know us as business people we try to always get the best offer as possible so we won't we want the best offer for you know our supporters in our community so that's why you know when I approached you with it and you didn't try to go back and fall for me you knocked it down even further than what it was already discounted and gave us you know rights to have the the cheapest on the market for the product is concerned so yeah I appreciate that man one of one deal that you're running would earn Alisha nobody else has that and once again we really appreciate you we really great just man and like I said everybody especially in these times is using Amazon so now we get to open their eyes to a way to make money from the actual website itself so thank you again absolutely I appreciate it's a blessing to be a blessing man I'm super excited and humbled that you guys allowed me on the show and I can't wait to contribute to each and everybody's success and and help everybody get started like is it's super humbling to be able to help people change their life with the business model that changed my life it's my favorite thing on planet earth so it's a blessing to be a blessing yeah you officially alumni Josh so welcome welcome to the club yeah for sure so on you know how can people follow you on social media website any other initiatives that you have going on you know let the people be aware of how they can contact you yeah for sure so on Instagram it's official Joshua crisp on YouTube it's just my name Joshua crisp on Facebook it's Joshua crisp the the the podcast is from nothing to something the story from seven twenty five to seven figures so that's on all major podcasts from nothing to something and that's pretty much it man the amz formula don't don't Troy housekeeping items yeah shout out to everybody on patreon.com that is are proud to pay program y'all know about that I want to give a huge shout out to Rosetta she called us from LA the other day and shout out to all the law practitioners in LA the LA County man had an amazing story about some of the things that they're planning and hopefully we can be a part of that and shout to everybody on Ernie Alisha University man that is our online school man and it is taking off everybody has been hoarding to the site man so we're happy to have you and welcome you and everybody that's in our private real estate group headed up our brother mg the mortgage guy shout out to y'all the owners a they came out in full storm this moment so we appreciate y'all and everybody that's been ordering the merch man we got some new colors up there so be on the lookout for that yeah she I got red on think we got the red up Tommy we got the red light on the show if we put it up there we got we got a whole new collection of merchants in ya the private real estate Facebook group is a whole entire wave so Ernie Leeds University calm all the information is up there that's that's often running we got about 40 webinars already done yeah we do weekly webinars we do a bunch of different stuff got a book club movie club all kinds of stuff is over so yes once again you know we appreciate you guys for rockin with us we'll see you next week and safe y'all be safe peace please [Music] [Applause] [Music] [Applause]
