Neil Twa: All right, everybody, thanks for joining the call. It’s got cold here, I don’t know where you guys are. So I put on my flannel because I’m whatever this thing is exactly, I don’t know, because it was kind of cold. Here where we are, we had two nice days of 80 degrees and then all of a sudden it’s freaking cold. So the weather has been really annoying where we live. I don’t know about you, guys, but it’s nice to be kind of warm. But at the same time it was, it was such a beautiful day, but it’s getting cold all of a sudden we’re going to be down in the 40s and down in the 30s at night. So hopefully you, guys, are snuggled in where you are. Hopefully you’re safe and sound. And we’re going to start off tonight talking a little bit about what’s happening in the world. Of course, as we always do, we’ll go into products. We’ll talk, we’ll do some research. You, guys, want to dig in on some products and some niches. Let’s uncover it, let’s do some analysis. Those of you who may not have joined this call before welcome. Glad to have you here.
My name is Neil Twa and you are on the Academy Live Thursday Night Live. Glad to have everybody here. See a few familiar faces that come on every week and help get things moving. So hope you guys have been taking action. How many of you have been taking action? Give me a yes. So one. Hello. Yes. If you’ve been taking action in your business since last week, last Thursday, have you been doing product research? Have you been trying to figure out what’s going on with your business? Have you been trying to make action in your business? Have you been looking for, you know, products? Have you been sourcing products? You have samples in the market? Or you have products you’re selling? Have you taken anything we’ve done yet and optimize some businesses, opportunities in your FBA business? If you aren’t familiar with what we do on these calls, we’ll talk some more about that as I go along. It looks like we’re getting yeses. Yes. Yeses. Excellent, fantastic.
We did this in kind of a webinar style format, although I’ve debated the possibility of bringing everybody in on more of a gallery style view chat where it’s not just Me. But these aren’t like traditional trainings, we’re just here to kind of disseminate some knowledge and have you guys have an opportunity to think a little and talk a little bit and understand kind of what we’re doing. And what we are dealing with in our own business, what we’re dealing with our customers and clients and how we’re moving in the market, which I think is really important right now, for those of you who are new or into the novice and intermediate stage, but those of us who have been around this for a long time, in business, and on Amazon for a long time, we know that markets shift, things change, dynamics move, money moves, and we’re watching many of those things unfold now, unlike anything that we’ve seen since we started selling in 2012.
So some of this stuff is familiar to us. Some of it is new, and some of it we’re playing by ear a little bit. So it’s always good to get the questions out there and talk a little bit about that and answer those questions. For those of you who might have, you know, questions about how we’re running a business in this market economy, what we’re seeing what we are are doing with our businesses now to adjust and what you, guys, should be considering in your businesses as well. So I got some comments coming in. Hi, Rebecca. “Got my S corp set up yesterday.” Yeah, getting samples coming, all right. Fantastic move. I see (…) Hi, nice to see you again. We got Tyler, Richard. Hello, Rebecca, Mark, James. Welcome GB. Garrett, is that you? We got Terry. Thomas hello to you. Thanks for joining the call.
Alright, so how this works is we take questions, I do some of my own insight. We’ll talk about what’s trending, of course, what drives the conversation usually is what we do in the product research. So since I see at least three or four of you who are brand new, let’s get some quick history on what we’re doing here every Thursday night. And then since I do see a couple of people in who are new…Yeah, James, I was wearing the jacket as mentioned this earlier because it’s a little chilly down in here and I turned on the heat on earlier because it’s getting cold, all of a sudden. Our 80 degrees just dropped down to like 40 with a low of 30 tonight. So that sucks, so I buttoned up.
I’m going to do a poll that I do every once in a while. I haven’t done one in a while, but I see a number of new people, so let’s go ahead and kick this poll off. While we’re doing that, guys, take a chance to answer that kind of give me a little bit heads up on where we’re going. I take a pulse here, so I know where our content is focused on we know where to speak and what level to speak out in terms of business and language, and definitions of terminologies, and explanations and stuff. I want to make sure we’re all on the same page. I know everybody is not necessarily an expert in Amazon, and that’s part of the reason why you’re here. We’ll definitely talk about product research.
What you aren’t going to hear me talk about on these calls is tech support related questions. I have a help desk and employees and other people to take care of that, so that’s not what this is about tonight. But we will talk about how to use the tool to find products and what data you should be paying attention to as always. For those who are have been around, you’ll know it’s all about the data when it gets down to Amazon finding those products, finding those issues, getting your narrative straight for your brand, okay? And getting moving on those things is very important. And obviously, we’ve got a very changing economy to deal with. We’ve got a very changing world approach to things all of a sudden, which is very interesting.
As we broaden our scope, you know, this is for those of us in America, in the US that are dealing with dot com related stuff, some of you I know are in the UK, and other locations in your current selling capacity, ut a lot of the stuff we deal with is in the in the North America area. As most of you know, in our businesses we have been, for those who may not know we’ve been selling since 2012. And we have ran, oh gosh, I don’t even know how many brands and now, I know we’ve sold millions of products online that is for darn sure. And we have been coaching and helping people for five plus years now in different capacities. We did purchase ASINspector tool about a year and three months ago as part of our strategy for business in order to align our technology and processes and people with our business strategies and coaching and other things like that to make sure we can align technology and people’s and processes together to make it successful, which is cool.
I see half of you are not paying attention to the voting or you are a stepped away from your computer. So if we’re going to do this, you need to come to the front of the line and get your votes in and make sure that you’re paying attention. All right, so we are we’re getting to the 58% of the vote is not enough. We need like 70 or 80% if everybody’s on here. We don’t have that many people on right now. We have a pretty low, it took a half the attendance we normally do. What is everybody doing online in the evenings on Thursday nights, y’all Netflix and chilling or something? Are you not working on your businesses? Because this is the best time ever to be working on your business. As far as I’m concerned, I couldn’t work faster in things. This is an opportunity, I think unlike anything I have experienced in a long time, eCommerce is exploding, money’s moving.
I caught up with a guy the other day. He’s like, “Yeah, I put an old product back online.” He’s a Facebook guy, and he was running Shopify traffic. And I said, “What are you up to?” And he said, “I am. I restarted the store from a couple years ago that wasn’t profitable, and I put a slightly different angle on the product to match up with the current market.” And he said, “After three days, I hit a $14,000 jackpot on my product, and now I’m trying to scale it.” And it was a product that was over two years old. He hadn’t sold it before, he couldn’t get it profitable. He just put a slight spin on the product, a little bit of point of difference and put it back out there again, Facebook traffic and Shopify totally different. It just happens to be eCommerce related story so we’re clear. But you know, that’s just telling you right now that clearly there is a big opportunity in the market. So somebody says, Richard says, “Nothing happens when I click submit.” Actually, I think he just clicked the button… Oh, I’m sorry. The poll not be not perfectly acting. There’s a big update that Zoom pushed out today for all of you who are not aware and might be messing with your settings and stuff. I had to go in and play with my settings.
Alright, so let’s end the poll and then let’s go see where everybody is. All right, sharing the results. Where are you guys at? All right 80% product research, buy new products. Cool. That’s why we’re here to want to talk about wholesaling private labels, cool. Analyzing existing products, we’ll definitely do that. Cool. Gathering ideas and brainstorming, that’ll be part of this process. As always, for those of you who are talking about wholesaling, you should know we don’t do wholesaling and we really don’t focus on it. In fact, anybody who is in it and doing it, I recommend you get away from it as fast as possible, and walk.. Don’t walk, don’t. Like sprint, like run, like super fast.
One of the ladies in our coaching who has a wholesale business that was relatively large just last five before (…), they were taken down in the system half her income. She will not get that replaced. Definitely run away from wholesaling. How do you rate your seller IQ level? Beginner sellers, cool. Intermediate, okay. Nobody says they’re advanced yet. Alright, I’m not sure what you guys defined as advanced. What would you define as advanced for you to Silver Clark? What do you find? I know what I define advanced as. But number two, you guys say you’re not advanced, you say you’re intermediate or beginner. So give me your two cents on that in the chat real quick. Why you don’t say your advanced? I mean, we say you’re intermediate. Is it because you’re not selling a certain volume? Is it because you don’t know all of the buttons to push? If it’s all financial related, then we got to work on some of that. Because I’m going to tell you finances will come after your purpose and your narrative and your point of difference on your products are found.
What’s the biggest challenge you face right now and not enough knowledge? Okay, that’s cool. We can fix that. Not enough sales, not enough product ideas. Definitely can fix that one. Not enough money, well, there’s enough money in the world right now like crazy. Not enough time. Only one person says not enough time. That’s it’s interesting, I like that because maybe you, guys, are actually listening. The not enough time comment is usually the one that gets the biggest answers for question three and that’s actually inverted. So now we’re down to not enough knowledge, not enough sales, not enough product is pretty cool.
What are your personal goals this year? Multiple choice, of course. Grow my existing business, sure I hope that’s why you guys are here. That’s a very obvious answer. Gain more knowledge, you know, spend more time with families now low. You all spend time with a family. Whether you want to or not, it’s just gonna happen. But only two out of you who voted want to quit your job, that’s interesting. So either you don’t have a job or you guys really love your job. Now, that’s fascinating. Grow your existing business, of course, of course.
What are your income goals for this year? Make 5000 online, make 10,000… Hey, 75% of you are now catching on. Make 50,000 a month online, you actually realize what that opportunity looks like. All right, cool. So now you, guys, kind of see who you’re with. You kind of see what’s going on and you kind of see why many times on Thursday nights we cover a lot of the same kind of conversations? Definitely product research for new products. Alright, so we will talk about that for sure. So let’s go over here I got some comments flowing in. I don’t want to miss any questions that y’all might have over here. Certain level of income success. Advance earning 20,000. Know all the workings of everything must be because we’re at home and we have all the time in the world for three months. Yeah, because you’re definitely want to quit your jobs.
Alright, so let’s talk about products. Let’s talk about some product. Let’s go do some identification. I like this part. This goes fast and we’ve got about 45 minutes left in the evening about a time we dive into products and do analysis and analytics and profitability. That will wrap up our evening, usually for the next 45 minutes, because by the time we start digging into those numbers of questions, go things fly. If there’s any other types of topics you might want to talk about tonight, please ask in the chat. We’ll get that going. If you know for those of you who are aware Amazon still hasn’t unlocked a number of FBA seller privileges in terms of what’s currently selling and what’s not.
If you’re not able to get product on the market right now, it’s actually okay. Time to be sourcing because guess what, there are many other people who are running out of products, which is going to create an actual avalanche of products into FBA. If you are prepped and prepared and ready to get your products in, when the doors open again, you may be getting getting yours in under the gun ahead of the thousands and tens of thousands of other sellers who are going to race to get their stuff back in the system to once they start unlocking some of that which I believe they will by the end of this month. That’s my personal opinion. We’ll see. Hopefully, I’m right. I don’t want to be wrong.
But the other thing I wanted to talk about also was, you know, we are in by definition, I guess we’re in by definition, we’re in a little bit of a recession, right? In terms of a forced recession, economic recession, that kind of things. And of course, in that timeframe, a recession cash is king, and those who have money obviously make deals, and cash can move things much more differently. Businesses and opportunities out there are being presented for, you know, pennies on the dollar. When last month they were asking for good multiples.
It’s also very interesting to note that those who take advantage of these times when the recession returns back to a full economic turn, which I expect it will… And many out there do you too, the businesses that come out the back end of those really take off like crazy. And I actually had this forwarded to me the other day on on one of these numbers, “What businesses were started in a recession?” Because I thought that was fascinating to kind of give you, guys, some insight. If you hadn’t done this look up already. Successful startups found during the last recession, which is, you know, was between 2008-2010 roughly for the time that occurred here in our local economies in the United States.
So there was a one I had earlier stopped the audio… That was fascinating. You, guys, may not have realized the WhatsApp started during on hat last recession period which Facebook snapped up for $19 billion in 2014. So from 2008-2009, we had that recession time and then WhatsApp came out of the middle of all of that and then sold in 2014 for $19 billion. That’s pretty crazy. I’m actually reading from my other screen over here so forgive me if I’m not looking at you. Venmo right, the digital pay app it launched in 2009 as payment processor. It was acquired for 300 million by Braintree in 2013. Groupon came out of the 2008 things you guys know that that seems like it’s like everyday kind of thing, right? Groupons coming up. That one has a two $726 million evaluation. Instagram came out in 2010, that doesn’t seem like it was that long ago. But dang, that was 10 years ago. Uber, this is one I thought was really fascinating. Uber is now valued at $47 billion came out of 2009 because they literally couldn’t find a taxi, which I think is fascinating. Pinterest came out in 2010. All these things we suddenly take for granted every day. We use them all the time. They’re just a normal part of life and 2020. These are all companies founded out of a recession, slack 2009.
The whole point I’m trying to make, guys, Square 2009, Cloudera, which you probably haven’t heard of, as another good company that came out of that. During those times those people sought opportunities in the market. They saw their point of difference and their business and the opportunity they wanted to present. Like Uber, for example, in a different way to look at cab rides. This is an opportunity for you to be presenting yourself and your business and things you’re doing. Especially around you know, obviously the ecommerce side of the house, and using Amazon as your launching platform to build your brands. It’s a great time to really be looking at the market differentiators. What are products that are moving differently now that weren’t moving before? What are products and initiatives that are going to be coming out of the back end or something like this that aren’t ever gonna go away, that are changing? These aren’t just rhetorical questions. I’d love to get your guys’s input on this. I have some ideas. I know what’s happening, but I’d love to see if you, guys, have some input on your side of the house too, to get the brain juices flowing a little bit because of what’s going on.
Walk. Okay, some questions coming through over here. Let me get those real quick walk through doing a test quantity from AliExpress. Do you do that as white hat are your own brand? Well, we don’t actually do that from AliExpress, we will go to Alibaba, right. So Alibaba in niches and products within there can be done as MOQ. So we wouldn’t do AliExpress per se for the FBA private label. You could do a couple of drop tests from AliExpress if you cross the manufacturer over, because AiExpress will have manufacturers that are also on Alibaba. And so if you can cross that over and find the two, sometimes they’ll get small MOQs, smaller ones, on the AliExpress store front than they will with Alibaba, many times they won’t.
So really, we there’s a actual really good deep dive into that on about three sessions back in which we went through using the tool and using image search to reverse into Alibaba really quickly. So we can do that again here real quick just to show you that show you how that works within the tool if you’re not familiar with the sourcing, and we will need to go into a product and mission brand. So if you, guys ,got some ideas, let’s dive into that here. Give me some products and some ideas. We’ll do it live, of course, as we always do to show you on the fly, how it’s possible to find products much easier, simpler, quicker, faster and cheaper than you might actually realize at this moment, which is about product research.
Question number one, just for clarification, I have a business account for my LLC, but I needed another business checking account for S Corp, right? That is correct. And that’s a really good question for the WhatsApp channel, Rebecca, in what Reed’s doing over there right now. So definitely make sure that you bring that up in the WhatsApp channel. Okay? Camp pillow, camp pillow. Okay, so we talked about camping supplies last week. I was loved the camping niche. We went into that last week for those of you who paid attention. if you didn’t, there’s an academy recording go check it out from last week where we dug into the camping niche a little bit, and we ended up actually in the outdoor niche, which led us into games, and adult games which led us into some really fun products, not those kinds of games for you, guys, who are just took that the wrong direction.
The other kinds of games like outdoor games, played with people, who you’re not married to or whatever, that would lead to you know profitability and products we got to the cornholes. If you, guys, remember the three different types of corn holes. I thought it was fascinating myself because I went to look at that a little bit deeper later on. And that’s actually a really interesting market. Definitely as we come into summer, it’s a little more seasonal of a product but that really wasn’t the point. The point was we found a product very live.
So I got camp pillows. What else you got? Come on you’re on here, I see you. Get those product ideas out here. Right? Don’t worry, we’re not going to share names. So whatever product nation stuff we go into., I won’t tell you who’s naming the products will just deep dive. So if you’ve wanted to get some analysis on a product and you should been considering your products or thinking about, let’s go. Let’s go talk about it right, let’s throw the screen up here. I’m going to shut my video off temporarily while we do this, because it’ll give you a full screen number one and number two, it’ll save on some bandwidth. Because we had some fun today with Zoom bandwidth. It’s not, it’s not keeping up lately, can’t imagine why with a bajillion people trying to access it lately. And if you didn’t get the latest Zoom update, I recommend you do. There is a lot of new security features and stuff that you are going to want.
Alright, so let’s go ahead and I’m going to make this a little different size because that is just way too large. All right, so we look at that, “Camping supplies for adults was actually something I was looking at earlier because of the conversation we had last week.” A little slight different angle, 10,000 results, definitely showing some competition. Of course, the differentiator between this and the next steps or is it saturated? I’m actually in my account. I was looking at premium screen paint. Ultra HD for a little project I’m doing out of the front half of my shop to put in a little movie theater, because if you can’t go to the movies gonna bring the movie theater to us. So I am working on that and I did not realize that this paint was so expensive, holy cow.
Alright, so what I’m actually going to do just for the sake of not messing with the data, I’m going to sign out of my account, alright, and we’re going to go back in here like this. Alright, so we were looking at dolls. That’s pretty generic, let’s go a little lower. What type of dolls? Size, shape, color, quantity, older, younger, children’s, not children’s dolls. Somebody said, “Okay, camp pillow, go back that way?” These guys are kind of niches a little bit. Remember we got to go a little deeper into determining products, which we’re going to do. We’re going to talk about it at the macro level, like we always do, because a lot of the things I’m hearing in the chat right now are actually macro views, guys, are still too high in the department and categories.
Remember we need to get down to the nodes and the niches and I’m going to tell you again why because of the data the tool is actually showing and where you actually want to align yourself. Alright? So we’re looking at camp pillow, but what kind of camp pillow? Just any kind of camp pillow? Because really at this level if I’m going to try to rank for a keyword called camp pillow, I’m going to be getting all kinds of traffic that’s not really locked in yet. Like I’m looking for a camp pillow, an inflatable, a compressible, a memory foam. Like we’re getting down to some specifics, right, Amazon’s going to help us. Inflatable, compressible case, memory foam, backpack kids.
Okay, that’s a little lower. Inflatable, compressible. Let’s just look for curiosity sake at memory foam and then we’ll come back and do… Actually, you said inflatable. Okay, so let’s go to inflatable inflatable camp pillow. All right. Interesting niche. Why don’t we dropped into 155 results are very fast. Which again, guys, that is not a contender for sales volume. It’s just a matter of competition, or potential saturation. We do notice immediately as we should always notice that there are people bidding for this keyword camp pillow inflatable on the sponsored brands right up here. And then we got sponsored products right down here, which we see people have got a couple positions for. So I always love to make fun of this because I know there’s a couple of courses out there that people buy into how to rank on Amazon.
You will rank on Amazon by basically becoming the third spot onto the sponsored listing. There you go. There’s your big $997 set cost savings tonight for showing up. In the sponsored ad campaign, you can come to the top of any search in a matter of 15 minutes, once it’s propagated the system and you could be the number three seller. So the difference between whether that’s successful for you or not, gets down into the numbers. We’ll keep talking about that because at this moment, I’m seeing a lot of red. So this right here is the ASIN tool, ASINspector showing you we’ve got red, red, red, red. I’ll show you why that’s red, if you’re not aware, we’ll go and talk about that some more.
But right now we’re just doing a first level analysis at a macro level for the camp pillow inflatable keyword. So what we don’t know at this moment, is that keyword profitable? Or is this a niche that I would actually dive into to determine whether or not this is a product that might be good. So this is the part that gets really tough for people, this is the 80% of the work that should be done to determine products and profitability before you ever go and source a single unit of anything. And this is where I want to make sure we stay focused every Thursday night on this product research.
So we got some ideas obviously camp pillow inflatable, if you’ve thought, “Well, I never would have thought of that.” Well, think about camping. Alright? If you’re at the top level of this and you’re trying to determine well how did you even come up with the idea of a camp a pillow inflatable, let’s back up one level before we let’s go to the very macro. And let’s just say we’re looking at the whole idea of camp pillows and camping all together. Well, camp pillow technically is an accessory. Is it not? It’s an accessory of camping, or outdoors or sleeping outside or something rugged. Okay. Another thing you should notice as I come back to this page and look at it again very quickly is what do I see on this first section of the page? Can anybody tell me what I see? Anybody notice something for you, experts in the field?
I should say you novice sellers, because we didn’t have any advanced sellers by your own definition on with us tonight. They all look the same. Yes, they do. They all look the same. That’s first. That should be your first kind of glance at this is to say that might actually be a little bit saturated. Just a quick feel, so we got a little differentiating here. This is a little bit different, but not terribly unique, especially as we start to scroll down we see a lot of the same. So what’s gonna happen at this point, it’s all gonna be driven by price, price and review. So what we see here 15, 5, 15, 12, 7. Bam, I’m already disqualifying this right out of the gate. And you can also verify this by the numbers. So right down here at 35% cost of goods, the tool is telling us you don’t make any money in this niche. Okay, this product is going to hurt you. Yeah, there’s one selling 44. Yeah, maybe that’s a good deal or maybe it’s not. But what kind of competition is it going to take for me to get more sales from that product than the other products? And it looks to me like there’s a lot of red.
So let’s just look at this niche again. Let’s go back one level. We’re looking at camp pillow. We know it’s in camping. So we can do things like okay, camping, it’s a camp pillow that is a part or an accessory of my trip out camping. Now my girls just went camping in the backyard the other night. It was beautiful weather, we set up the tent. All four of them climbed into the tent, and we had them out there. Now we had steaks. I had a cover. I had the tarp. We had pillows, blankets, we had camping lights, we had you know, things that were all accessories as a part of that experience, right?
The other part of the experience was Dad staying awake and trying to sleep often on in my armchair what because the girls were just outside and we live on 50 acres where there’s lots of things that roam around and go bump in the night. And they, you know, them coming in at 4:30 and waking me up to find out that they didn’t… They were almost going to make it at 4:30 and everybody went to bed and I finally got to sleep at five in the morning. So that’s really how camping went for us the other night. But it doesn’t always work out that way. By the way, I got kids 11 and under. In my house, the youngest is seven.
So we’re looking at camping accessories or camp accessories, camping accessories, we can play around with us just a little bit. What we’re going to do over here is we’re going to kind of look you know, these are trending to a degree because we are at the summer so let’s just be aware trends are not a problem. And seasonal is not necessarily a problem to determine products as long as you can get some overlap, we you won’t typically see us recommending or selling or scaling businesses on seasonal products. It’s a little volatile, it’s hard to predict the numbers, seasons and different types of trends and seasons can change. And in terms of evergreen and blue sky products, we typically try to stay away from seasonal products. But again, we’re just analyzing this niche and I’m talking out with you as we go along, and then you can get you know, some insights into what we think as we do this.
So, camping accessory see camping accessories, obviously, camping accessories, camping gear, all right, is going to give us something that I was actually shooting for a minute ago. And that is if I come to images, like all of a sudden, look, there’s a whole list of skews, sitting right in front of me. I don’t know this one drew my attention, so let’s look at that one. We got all kinds of outdoor camping supplies, and that’s just one of these look at all the other ones, top 10 camping gadgets, okay. So How do we get to pillow? Right? Pillow is just one of these things that could be accessorized or a gear as part of camping outside.
So what do we do to back into the idea that we could even sell a product during product research or product, you know, analysis sort of product, vetting product research stage is to start thinking about things we do all the time and then just start breaking them down into sections, camping gear, accessories, and just starting to look at all the different products that are in here. And then as we go through each of these products, just start to go in and search them on Amazon and start reverse engineering them. Okay. So people ask, Well, how do I get started? How’d you even come up with that product idea? That’s exactly one of the things we do in order to back it in there. So you can come over here, right?
So we can also go over to trends, Google Trends, and in here we can put something like camping. What do we have camping pillow? And we can look at camping pillow and just kind of see well, where’s camping pillow banana? It’s kind of flexed up flex down and recently you know arkad imagine what Why it’s taken a nosedive. Because when people are going to be out camping right now, if they’re not 50 acres of the country with their kids, they’re probably not travelling, go camping, and all of a sudden the floor has fallen out of anything camping related, right? Will it come back? Absolutely. People will go camping again, but at this moment, not a top priority, and we can kind of see that trend going down. Right?
So that’s one of the things to consider is not just trends, but shifting and the money’s shifting, will it come back to camping? I don’t know if it’ll come back as though it’s it to a degree, I would say, you know, there’s always a need for it. And you can see, during times, if you’re back in 2019, it’s kind of shifted, that’s 12 months. If we just go back to five years, we should see some pretty consistent numbers, especially over the summertime, for products and so, you know, bands lifted other things gone pandemics out of the way. This should kind of move its way along.
So somebody asked a question, what was the chrome SEO plugin? Oh, that’s That’s just a plugin that somebody turned me on to a while ago. It is where the campaign accessories was able to pull up again, it is called there’s this thing called keywords everywhere. So it’ll show keywords over here if you want to load additional keywords, you can take a look at them over there. You know, this is just a good way to kind of look at camping accessories and just see okay, what are other related keywords here that I could dig into? People are searching for well, camping gear on Walmart, discount camping equipment, camping gear, Amazon, okay, people are searching for that keyword. They’re literally looking for products on Amazon that have to do with camping gear wouldn’t be nice if this was your product sitting right here at the top. Imagine that. It would go a lot farther. All right.
So we go back here we take a look. We do some analysis, we do some trends, we think about the Evergreen nature blue sky nature of the product, we think about seasonal trends, we think about trends in the market, we think about obviously the time we’re living in and the shifting need for certain products and opportunities for products. A lot of at home types of activities now are going to be a big component at least for the next month, maybe for a while after. Certain markets and segments are going to open up. eCommerce obviously, is doing fantastic for those who are in eCommerce at a deep level already.
For those of you who are getting started, this is your chance to really get things positioned for a move. But this wouldn’t be one of them consider, it isn’t just because of the time of year. But when we know the product is not going to have profitability, and we look at this particular product type pillow inflatable and we see, you know, this type of product, we wouldn’t want to go after inflatable pillows on Amazon; it’s just really saturated. And that’s our that’s our top level, you know, analysis, we’re not going to go into the individual product, we’re looking at just the high level, I haven’t even really delved into the product data yet, because I know it’s saturated.
But if we were to go to the micro level, we’re going to take the tool and click on it. And it’s going to pull up the data here for us. And what it’s going to do initially is show me a lot of red and yellow. So we’re going to look at this, a quick macro level of 53 products, you know by approx average price is 15.28. I don’t like that at all, I would love to see that about $50-$60. So this is way under anything that I would recommend you sell, or anything that we would tackle, because when you get down to this metric right here, which has to do with my estimated gross profit, this is all that matters. Any other metric is really a vanity metric. Okay? These are what they’re going to be, what you get paid and how much profit you have per unit is really all anyone should care about how much money do I put in my pocket, I don’t care about revenues, sales, numbers are estimate. And that is not important.
I don’t really care about the buy box price because it private label, I’m gonna win that. And I honestly don’t care about the number of sellers per se, as long as it’s not in a saturated niche. And at this point, it really is. So I’m going to say that’s really not a great one to look at. I really care about product profitability. And for those of you who are wondering when we get the net payout, the tool is defaulting to 35%. That is a personal metric we know after millions of products and millions of dollars in sales on Amazon, if it’s not at 35% or lower, you’re not gonna win. It’s just that simple. You can argue with me all day long, but I’m going to tell you it’s not, you need to go to 35 or below. If the lower you get an estimated cost of goods while providing a good product that matches with a great audience, you will have a good business. Okay, that’s simple.
The other thing to make sure, those of you who are new, we are defining this not at the estimated revenue of course, in units level, our product and calculations are coming down at the node level. So while you may see data here that doesn’t necessarily match the estimated revenue of Jungle Scout, AMZScout or any of those other tools, it’s because they’re not angling their product intentionally towards selling into the nodes or the niches within Amazon and the niches have to do with how far down I go. I go to apartment? Okay, and in that department, I can see different categories. We’ve got camping pillows, self-inflating camping pads. All right. So at the category level, we just dropped straight into the node which tells me there’s not a lot of products and not a lot of demand for this, we jump from department and straight into the node.
So if we look for sleeping bags and stuff, now we’re going to see that we’re in categories called camping pillows, self-inflating sleeping liners foam pads, and from here, we can go one level deeper into, say, sleeping bags and now we’ve hit the node, okay? And the node is going to be down where I can set products up, they will generate great profit for me, that will not be in a saturated niche, saturated area or a overly competitive place where I have to deal with hijackers and other nonsense and when I’m brand registered and I get the point of difference into a trademark, then that product can sit there for years, guys, years. We have products and stuff and bring it ones that have been running for years. And just day, week and month are absolutely crushing it. It’s how we scale. It’s how our partners scale.
They’re not hanging out here in sports and outdoors and outdoor recreation where everyone else is telling guys to go, it’s a whole lot of nonsense, you’re gonna die on that hill, and I watched too many people die on that hill. One product right here has a bit of profit. This product has some profit but their max because they are literally setting at the top of their department and category for home and kitchen and it’s a thermal rest compressible travel pillow. See, it’s not even inflatable. It’s not even a pillow that’s inflatable. And they’re below $10 in profit per unit, which is why they’re yellow. And because they’re already at 5600 BSR, that’s about as far as that products gonna go. That’s okay. It’s a decent product, it might actually work but that’s 13 different sellers. So we can see already this is not a product that I want to play with. All right, these metrics right here are telling me this is not a product I will play.
Rebecca says, “If you are building a niche that can have accessories like the camp pillow, do you stay away from an accessory since they aren’t as profitable?” Yeah, absolutely. build your brand with accessories that are profitable and this is where you will win. Remember five by five, okay? We are looking at five by five, not just a military term, buy products. All right? They do an average of five sales a day, giving us an average of 25 units moved for a day x an average of $10 or more in profit, really would hope you guys could get to like you know 15 or 20, giving us 250… I’m doing this with my mouse so all of you people yelling and screaming at my computer about how bad this looks, so what? I know you, guys, aren’t doing that, too much love. So this puts $250 a day in my pocket. Right? This is the metric that is so simple. We have been doing this for five years. We have taught it to thousands of people and businesses have gone to do seven and eight figures just following this simple strategy. Right? Three steps. The fourth step is actually selling the business.
So you got to find these, you stack them up, they’re all profitable, and they’re all within a profitable niche. Now I’m only pointing to that one because it shows profit. I’m not pointing to that one because any one should go out and race to find a thermal rest compressible travel pillow, which will give me my 10 seconds of disclaimer for those of you who are listening, I never recommend any of these products be sold, do your diligence, never take this at face value. Go find your numbers, and do not come back and write me an email about how you went and bought a product off of our Thursday Night Live and it didn’t work. So go do your diligence, find the products, we’re simply talking about products and profitability there. I like that for a disclaimer.
All right, so in the camping niche that we can go to other places, right? We can go lateral, we can come in and look at camping pillow inflatable, we can say, “Alright, so let’s go look at a slightly different angle here.” Let’s go to the brainstorm tool. Let’s just see what other things are coming up around. We got accessory soup stoves, okay. Average prices are going up, I like that. This is camping chair, okay 38. What else we say? 47 for the memory foam pillow, okay. So with an average rank of 80,047, let’s do that real quick. We’re going to go lateral right? Still yellow, but there’s a few more greens. So we still got a few yellows. So we’ve taken the camping, pillow inflatable, we’ve moved it laterally to a memory foam pillow.
Alright, here’s a memory foam pillow. Let’s take a look at that. So one of the things we’re going to do very quickly here is I’m just going to come in and literally say give me anything more than $10 Okay, cool. Give me anything more than 20 all right still on target. 30, 40 not eliminated everything. Okay? For products that make over $40 per unit, now you have my attention. So what am I going to look at next with this particular pillow? I’m going to look real quick to see if I have competition I can name Nope, no competition, I can name check. I’m going to take a quick look at rank. And I’m going to say alright, based on this rank based on these numbers, there’s an opportunity why because these are still 17, 20 and 29 right there below 100. They’re below 50. But they’re not already below 10 because if I can get up below 10 guess what happens? They stay there. They’ll stay there for a long time and they make me a lot of good money and it becomes good product lines.
This is actually looks like a gel mattress. foam, let’s take a quick peek at this real quick and gotta get off my damn thing. What are we looking at here? Well, that’s a big old thing, oversized pillows. Oh look, we’re looking at all camping memory foam mattresses. That’s interesting. So we went from the pillow and we found mattresses. Okay. I mean look we’re not moving a ton of units to make this happen. We know our fees are in there, we know they’re stacked into the price. We know that if we get our cost of goods below a certain amount, let’s just come down here and say, Okay, this one’s at 52,000. Try folding memory. Let’s just go in here and take a quick look at this. So at 35% cost of goods, sales and fulfilment at 46, our net payout would be $95. We got $45 in profit, and 6300 and take home. It’s not bad. It’s ranked 52,000. What if I could get that to 30,000? What do you think what happened with that? Got a couple sellers on it. I don’t really care about that, per se.
Let’s go take a look at this thing a little bit deeper. Definitely just some everyday average pictures, pretty crappy pictures. If you actually it doesn’t even blow up, look at that. Nothing blew up. That’s not good. It’s a specific type of product for queen size camper, okay. For those of you who might be yelling at the screen about the oversize fees, I don’t really care about the oversize storage fees because it’s profitable. What’s happening at this moment versus what we just saw a second ago, this comes up a lot some of them we address this, because there are more than two sellers. Whoever’s winning the buy box at this time is the one that we will actually display. And you can see this one is clearly displaying at a different price point, and a different seller.
So we’ve got even more profit in this one at $110. They’re moving about 207 units a month. It’s not a lot. No BSR is 90, so there’s room to move into that. Few reviews sorta okay, “What can be the point of difference? Where could I go to this? I got my fees covered here, my fulfillments covered there. Amazon’s got it at 329 could I beat that, you know, four to 25 in my pocket?” You know, all I got to do is get my price point down a little bit, negotiate a little bit of difference, maybe take that 5% off somewhere? Okay, now I got some money to work with. I got some opportunity because look at these price points, right. So there’s opportunity. I mean, we just went lateral that’s just one example of something that would dig a little deeper go do the numbers, run your profitability matrix, determine whether or not this is an opportunity. You’re just looking at this. There’s a lot of missed things on this listing that scream, “Help, Help Help. Help me!”
it’s got some decent ranking in the top you know 29,000 of their and 90 in mattresses. It’s obviously in demand people want it. It’s an interesting niche RV travel supplies. Like we just went from, you know, inflatable to a memory foam pillow that took us deeper into memory foam mattresses, which opened up an entirely new niche of travel supplies for RVs. How many of you were thinking of travel supplies and RV when you came to the call today? Anybody even think of this as a niche or an opportunity How many different supplies are in the RV space? I can think of 10 right off the top of my head. I can also think of the Avatar that I’m going to be servicing with this type of niche. Why is that important? Because they’ve got money. Those who typically have RVs have money, they’re typically willing to pay for the better products. RV space travel niche is a pretty cool one, absolutely is. And you can still quarantine while you’re travelling at the moment.
These things are not going to be gone, they’re going to come back. And in fact, this may be more preferred method of travelling here soon when they do lift the quarantines on everything. You might want to be doing a lot more non 10 camping when things cool. I didn’t hear anybody say yes. Did you, guys, have this idea? Has anybody thought about this or gone into this niche? Because I want you to see how we just went lateral across the different product line because you, guys, are always asking how do we come up with ideas? How do we find things? How do we open new opportunities? Well, I mean, I just went lateral into an entirely new niche, a different niche than the one I originally looked at. Now I could start digging into what are all the components accessories and products that could be opened up inside of this niche. Right? It’d be a great little niche, right? It’s got some opportunities, you just need to do the numbers. Do the numbers. So this is cool. This is what’s fun about this right? You know, you hadn’t thought about it, but neither I, and that’s the whole point of this conversation. (…) none of us were thinking about that.
Someone threw out an inflatable pillow, we dug into the tool and came up with something and again, I had an average price point higher than the others. That’s kind of what I was looking for. Why? Because the profitability is in the higher average price points. So we were looking for that. Here’s a seat a summit that’s very specific that tells me that’s somebody’s brand. We had camping chairs. We didn’t look at that one, but we could have broken that one open and we had a camping store. We didn’t look at that one either. So only difference between a camping stove I think in a profit product that you might want to consider as of course the components of the stove could be a little technical, the logistics of the stove, the fuel that has fuel, you know, that gets into some areas where it may be a little grey hat area in terms of like selling it not grey hat in terms of like, you know, you got to go in and jack the system, just a grey area in terms of whether it be something you might want to tackle or not because of the other accessories and components that go into camp stoves. But if you’re selling the camp stove without the gas, you know, the opportunities possibly.
Tara, I recognized that brand. I recognized that brand. I recognize Coleman. So immediately I’m going you know, this isn’t and I see three brands I recognize right out of the gate. That would be where it becomes a little bit difficult. But, but why would I get excited about camping stoves at all because it’s in a camping niche, but it’s also in the survival niche, which is a crossover, right? So where do you find the opportunity in this right now. Well, the survival niche is pretty big right now, it was big before but it’s even thicker now, right?
So James is saying, let’s follow it through and see what you can source for in the end Well, i mean if we follow it through to the end, right? If we go over here, and we do an open store and we’re going to go to Alibaba, this is going to do a picture search. So if they’ve got a decent picture, which isn’t terribly decent, because the product image itself is showing a giant. Let’s go ahead and kill that one. It’s showing a giant mattress and this is where it gets to be a little bit troublesome with the image search because they don’t have a great product picture. And they have a decent one right there. But that’s actually the cool breeze product on the Queen 6080. So we might be able to take this one and just look as this is the 10-inch cool breeze.
This one’s running the same profitability close to BSR because it’s on the same parent listing and this is just a child. So let’s see if we can actually go backwards with that product image. There we go. So you see what I did there, I just had to move, I had to move into the listing determine the product because it does an image search. And so now we’re looking at potential products. We’re looking at a mat for Judo, we’ve got wooden crate boxes, we’re looking for foam. This is all big foam, more foam, thermal foam. I’m looking at the time realizing this is the part what’s going to take a little bit longer to go down into. So we’re not quite finding that. Let’s go over here and let’s look for earlier I call that a gel memory foam mattress queens. So let’s just go take this over here and let’s see if we can go product searching in a box.
Gel pad or (…), there’s a mattress topper, coil mattress with spring… Here we go, tenants managers refusal… That’s the topper itself, there’s the spring mattress similar products so we’re trying to find something that’s pretty close not exactly like this one but we’re trying to find something that’s a little bit close because we want to provide a product that’s pretty close and this is where it’s gonna take just a little bit of time and I don’t think we’ll be able to get all the way through it but we’ll keep going a little bit further. Memory from matches. Okay, now we’re getting a lot closer. This one leaving looks a little bit like the one on the other page. This is a verified nine-year old company, cool.
All right, so let’s just go through and James I know where you’re going we can’t get going with this bro but I’ll go a little bit farther. They even got a little video, well that’s nice. This one has a potential stand hybrid mattress maybe not exactly the same, but that’s okay. What we’re looking for is for competition. We’re looking for a point of difference. We’re looking for an opportunity, even some additional products made by this company, which is cool. So we can see here you know, this one box MOQ, this is one piece MOQ, 30 pieces, one piece, one piece, right. So immediately we see that we could get a sample. If you wanted to get a sample sent to your house, they can source it takes about 25 days on that estimate to get in there. Decent pictures can show us the product a bit compressed in a package comes in a nice little box.
So there’s a potential here to dig into this one a little bit farther knowing that we can get a low MOQ if we want. They’ve got one color and you can get one piece. So 50 to $180 per piece is just I’m sure going to be defined on which type of product we actually choose. It’s kind of a one fits all that actually won’t click. So that’s the site or something else going on there. But where are we at here? We needed to be at 120.05 to get 35% of cogs. So we’re somewhere in that range. So what we would want to do is contact that supplier and look to see about getting prices, even if our price was up to 180. Over here, alright?
Let’s say our price point was 180 over here, well we’re still profitable, right? And we’re still gonna be able to validate the market, and we’re going to look for point of difference, and we’re going to see some opportunity on that product. Of course, we want to get that down. Now, if we can get it down to 120, we’re going to be great in terms of our profitability and our ability to which one was I looking at? Yeah, in terms of our ability to compete with us. So type and quality, you know, those are going to be things we’re going to have to look at, you can obviously get a sample. $200 a piece, get your sample. All right, that’s one of the things we want to consider right there is determine the product sample. Sleep on it, see if you like it, check the durability of the quality of it, righ? Because I mean, we don’t need a ton of these in order to validate the market. I mean, they’re moving 200 of those a month, right? You don’t need a whole lot of those things to validate the market. And it’s not going to be a terrible amount of capital in order to get 10 of those in place to determine if they sell, if the quality and the rate that you want them to.
But we’re looking at trade assurance on this, we’re looking at a good response rate. We’re looking at a good vendor who has been in business for a long time. Yeah, they’re in China. But as you guys know, we’ve done this before you can go in and change locations and see if you could find them from a different location. You know, obviously, those are coming from China not highly recommended at the moment, but I’m sure if we were to go and do some more due diligence on this, you would be able to get down and determine trust-verified suppliers. Follow it down the line really, when it gets down to is is your product gonna have a point of difference from the dynasty mattress, if you need a little hint on where to go, start reading the reviews. Find out what people didn’t like about it.
It’s a great place to data mine. Literally, the data and opportunity is setting them there. If you know, don’t like certain things, if the stitching didn’t work, if it didn’t inflate evenly throughout, well, why would that be? Is there something you can overcome? What’s your point of difference, right? That’s kind of what we’re looking at. But you can get down and we can also see right here out of the gate, there’s a potential product quality potential product opportunity sitting right here. I can get one of those samples if I wanted to, or I could get a one piece, which is cool. And of course, we didn’t go through and continue our diligence into all of these other product types to see what opportunities there would be. Here’s another one with a gel. Here’s another one with a memory foam, okay. Here’s a gel foam, wholesale, cheap (…) There’s a hotel removable hybrid memory foam. Okay, coming out of the same place. You can get 10 pieces minimum order on that one.
So again, this is where you got to do your diligence, not just on the sourcing side, but on the number side. So as you come back here and start to determine your numbers, and your pieces, and your quantity, you need to come back and make sure you plug those numbers in to ensure that you can get you know, a decent profit. Even if you’re going to be sourcing them to start with just to get it moving, even if we come in here and say $200 to get the products, if we had to get them at $200 you know, still moving $45 in profit per unit. So you could get some of those and still turn a profit while getting your data because, guys, remember, it isn’t that I’m necessarily looking at can this product become a one hit wonder and it’s gonna change my life. What I’m looking at is that I find a product that has an evergreen opportunity that can sell all year round, that has the ability to be profitable and ride one of my five potential products in a niche.
And you might want to start smaller for those of you who are kind of maybe freaking out a little bit about the cost or the fulfillment or the size of it or whatever it just makes you nervous? Well, I mean, you’ve got a niche, dig deeper in the niche. I just opened up one for you guys tonight, you can go take a look at it, never thought about it, go dig deeper into this niche and see where their opportunities present itself and look for your points of difference. That’s really what it gets down to right. So small quantity of samples in here at this moment when we are at the product sourcing and validation stage. And we’re trying to determine if this is a product that I should move in this particular market.
We’re looking at you know, what just can I make off of that but what data am I going to get back? How much volume of sales is it going to make? What’s my actual profitability? What’s the quality of the product? What’s the point of difference? What am I going to do differently that they didn’t do to position myself in the market, in this niche to be able to compete with the other products that are in here, okay? We’re going to be looking that was just on the top and if we went back here and just said, “Okay, can we make 10 bucks off of this product?” We see some smaller type products, you know, self-inflatable mattresses appear We see a slight four mattress. There’s a big old queen bed there. Here’s an even bigger one.
What is that? Well, it’s a sleeping pad. It’s a horrible picture. Then they’re making 1000 bucks off of it, well there’s probably a reason why. Oh wait that’s the actual product, Lucid. Look at that how funny. Wasn’t that Lucid, was that Primo? I think I came across Lucid a minute ago. My mind says I came across Lucid somewhere. You, guys. may have seen it too. And that was literally the picture they just took right off Alibaba. How about unique for that? Oh, we look here’s a gel padded wellness large mat, interesting, from Visco Love. So there’s another product opportunity you could dig into a little bit $13, but we could do better than that.
So literally guys, I mean, I’m giving you my brain flow, but you’re seeing that I’m everything I’m questioning, it becomes a product opportunity. Everything is open to it if it’s got the profitability and the cost of goods, everything is open to a sample. What you need to determine is you know, based on your budget, and the niche that you’re in, is, you know, could I potentially tackle a product of this size right now at knowing I got to pay 200 bucks to get 10 of those to validate the market or what I want to try to go for something smaller where I may pay, you know, $20 or $50 or $100 per product. Really what it gets down to again, and this is the whole point of always going to make it… And now we’re on the hour, so I’m going to kind of wrap this up.
Is it really needs to get down to the profitability and the opportunity of profitability, right? Could you sell a product, it’s got 18,000 roughly, and compete in the market where this may end up being a two or $3,000 a month revenue stream of one of your products? Absolutely. You know, just off the cuff, it’s got good reviews, it’s got a product, we could identify it really quick. We just need to do our diligence. So I think what product sourcing and stuff gets down to, folks, and what I see a lot that happens and I want to make sure we keep you know I keep hammering on these points, is that the product opportunities are out out there, the steps of due diligence and determining your cost of goods while going and digging in and finding some supplier opportunities, even if you just start with Alibaba to get your samples, is where the rubber meets the road.
It’s where the differentiator comes in. It’s where the numbers need to fall out. It’s where the profitability needs to be in your products so that you don’t go into the market trading dollars in pennies, when you have an opportunity to go into the market with a product that’s profitable that when it becomes it starts to grow, you have room to compete, you have room to market, you have room to build profit for yourself into it. That’s really the whole component. It just doesn’t always get down to the types of products that they are. I have said this for years, I will sell fuzzy bunny slippers to grandma, if grandma wants to pay for them and they’re profitable. I will go into the you know camp sleeping pad for a car camping, which is interesting because technically this is not even showing up car, how weird is that? They’re just stuffing their keywords in there. I mean, I guess you could sleep in your car with that. Hopefully somebody’s not sleeping in their car with it. Maybe they are I don’t know but they’re they’re supposed to be universal camping pads, sleeping pads for car camping. Interesting. There’s an opportunity for that.
Alright guys, so I really if you’ve got any additional questions, I’ll wrap it up here. But I really wanted you to kind of follow along with the train of thought here. Hopefully, it’s making some sense to you how we go through the process and how you get to the point where it isn’t terribly important, a number of the factors that you may have thought previously, in terms of revenue in terms of, you know, things you didn’t even hear me talk about tonight. In terms of even the ratings for some of these products per se, you certainly didn’t hear me talking about estimated sales and revenues.
I don’t really care about fees, and Amazon fees per se because that’s just part of the business. What I care about is you know, can I get a net payout that comes from my profit and can I compete with those customers and can I move into that market, put my product at the top end of this and make it profitable? If I can make it profitable above these products, get into these positions, overtake the top end of the search and outbuy them and outspend them in terms of customers, they will they will be dominated. Doesn’t matter if they’ve got 3000 reviews, what matters is I’ve got a better product a better point of difference, and I have the money in competition.
So guys, that’s where we’re at. Hopefully that makes sense to those of you who are not familiar with how that works or have wondered or wanted to know how we can move, even move laterally into two different niches off a one concept time and the tool helped us do that. But we also just use some logical thinking and common sense as we talked about tonight. So I hope you, guys, found that beneficial. I appreciate you joining. We’re going to be back next week. We’re going to do some more of this. Thanks for joining me tonight. I appreciate you guys. If you have any additional questions or whatnot made, save them for next week because I’m going to take a break. So this has been fun. Thanks for your time everybody. Hope you have a wonderful night. Get out there, do some product research, product sourcing. Bring your ideas next week, bring your vetted products. Let’s analyze them. Let’s find out if they have opportunity. And then get out there and sourcing products between now and next week. Alright guys, I’ll talk to you later. Take care