Transcript – ASINAcademy Training Call April 23rd 2020

ASINAcademy Training Call - April 23rd 2020

Neil Twa: Hey, everybody, and welcome to the call. We’re gonna get everybody rolling in. Good to see you all. Thanks for showing up this evening. I was actually just getting the chat online for everybody who’s coming in, say hello, give me a high holler back. Hey, give me all the back. Hope you all are doing good tonight. I was actually just about to click live on the StreamYard as well and play that out into the group as we can have some fun with everybody else when they show up. Let’s see here. I’m gonna do that while we’re getting going over here. Can everything started off? Hope you all are doing great having a good evening. Yeah, glad to have time with you, guys, tonight. Thank you for sharing your time with me as well. We’re going to go over a number of things tonight because it is a very interesting day. So let me fire up the StreamYard, live stream. We’re going to go live to two different places.

Hey guys, we’re live tonight on ASINspector.com, getasinspector.com as well. We are over here, hanging out, say howdy, everybody. We’re streaming live into the group here and into YouTube as well as on my Zoom with my Thursday night call. This is Thursday Night Live as part of getting ASINspector.com and the ASINspector Pro tool, we give out some free information every Thursday Night Live, where we talk about product research, sourcing, what’s happening in the world of Amazon, what are we experiencing and what are we seeing in our network too, because we talk to people all the time, and I’ll bring you up to speed on some of that if you, guys, are in the group and you’re not a part of ASINspector Pro, then you might want to consider it. That’s one of the things we’re talking about tonight.

We’re also gonna talk a little bit about a little bit about what’s happening with the world of Amazon, because it is fascinating. For those of you who are paying attention, you should know that Jeff Bezos is going back to work. So Jeff Bezos is going back to work, then everybody should be going back to work, right? Because as it turns out, he’s being called back to the frontline. This ought to get interesting. So if you guys didn’t get that news today let’s pull this back up a little higher. Jeff Bezos, taking the wheel again back on Amazon reportedly joining the call to help make decisions related to inventory and Coronavirus. So a lot of things are happening right now. It’s a very fascinating time. So they apparently wanted to pull him back in. Because, well, they might need some help.

They got to figure some of this stuff out. If you, guys, are not aware of what’s happening, of course, you know, we have this little pandemic thing happening in the world here, which is kind of locking up some operations. For those of us who are sellers, in some capacity it’s affecting some of us. In another capacity, it’s not. Like sales for us in the accounts are up over 50%. For other people, you know, that’s not happening and other people, accounts are getting shut down. Talked to a good buddy of mine today who is an eight figure seller he has over 10 million a year on Amazon. We were strategizing, he was asking me some questions. I was talking with him as well as we occasionally do.

He was just telling me about the strategies he’s working through right now to stay on top of the game. Because it isn’t just that he’s got trouble with his particular products in the seller capacity, because he has a few that are considered nonessential. You know, he set in on about $7 million worth of inventory across Amazon, so we he was strategizing with us about what to do with some of that inventory or what he’s considering and what he’s seeing and what he thinks, you know, we think might happen and that kind of stuff. And just a really good call to be insightful and talk with him about it. But they’re moving about 1500 units plus a day across some really great products. And his team is just cranking hard, right? They’re glad to be working and he’s glad to be working with them.

But we were talking about, you know what’s going to happen here soon with Amazon, right? What’s going to happen when they start to open up their nonessential. How are they going to deal with this coming potential reopening right in around the 12th or the 15th? I’m hearing rumors. I’ve heard a couple of different things. I don’t think there’s any particular locked in date just yet, but how are they going to address you know sells, like count. How are they gonna address seller’s account that’s moving inventory but maybe a little bit lagging due to certain restrictions I know they’re not supposed to be shutting down accounts or penalizing them for late sales deliveries right now that’s one of the things they did announce. A seller newsletter came out here just a little bit ago. Let me just show you, talk you through some of this in case you weren’t familiar with what’s going on.

Thanks for joining on the live guys. Hello, we’re gonna shut this off in just a minute. I just wanted to say hi to you all out there in the YouTube and Facebook world. We are live on Thursday night with ASINspector. This is part of the Academy we just go through live, and we do product research and we evaluate the market, we talk about trends, we talk about strategies. It’s all free as part of the software tool, just a little added value benefit. So if you guys want to join us anytime live on Thursday night, come on in, grab the software, you can get the discount and the link below. I’m gonna shut off the broadcast to the group but you, guys, are on Zoom. You’re going to hang out with me for a little bit longer. I’ll see you the rest of you, guys, a little bit later on some more additional live training we’re going to be doing inside the free Amazon sellers group. I wish you, guys, just love it.

Alright, so that is over. Everybody gets their little fun. All right back to the real nitty gritty, guys, we’re going to let this ride. So if you’re all still with me give me a shout out, say hello, say hi. Talk about what’s going on. I’m looking over here I see your notes coming in all right. Hey Connie, Tyler, Richard, Rebecca, GB. Hey guys, how you doing tonight? Hopefully, you are doing great. Hopefully, you are in product research mode. You’re in seller’s mode. I see a number of names I don’t recognize. Thanks for joining us tonight guys. Neil Twa, CEO of ASINspector.com, ASIN360.com, Voltage Digital Marketing VoltageDM.com, the three company bases that we own, that do everything from software sales, we do Amazon e-commerce, clearly predominantly private label and FBA.

We also do coaching and mentorship at multiple levels from seller beginner and novice level up until a B2B. And then we also do corporate stuff as well, or we manage corporate Amazon accounts. It’s very fascinating time to be involved in all of those things. We see a lot with that business and all of those business, we have a pretty broad scope as we manage our operations globally, here. I am obviously not in a office, I don’t have one. Our operations are global, our team is global. In that way, we’re doing pretty good. All of our accounts and stuff, are in good standing businesses doing very well. Our clients are doing good. We’ve got a couple of unfortunate situations with clients that we’re working through right now where they were in the process of trying to get their private label going, they were doing a number of different seller strategies that we don’t particularly like to do. We’re not fond of that, we told you why. I’ll give you some back history for those of you who are not familiar.

Hi, Paul. Welcome to the call. Hey, Sharon and Talar, welcome to the call. Great to see you guys tonight. We you know, we ramped up operations, very large operations in terms of wholesaling, which is kind of the next step of retail online arbitrage, you kind of go that way and you’re like, well, I need to get more of this kind of product, so you typically been kind of manage yourself over to wholesale and get some training or do whatever is necessary to to make that happen. So when you go and do those things, you typically kind of get into the wholesale and find yourself getting deeper into that. It’s not a model that is truly sustainable. We’ve talked about that before. I’m just going to reiterate this every Thursday night for those of you who are bored with this concept, let me just give the new people the spiel.

Okay, so if you’ve heard this already, give me a yes in the chat channel. If you’ve not heard me talk about the types of sellers, methods we use and employ and why we do that. I’m gonna make sure I just update everybody. I know a few of you who are on here have heard this before, but I just want to make sure we’re all very clear as to what the opportunity really presents itself for Amazon. Again, what we refer to as not picking up dimes to step over dollars. So very clearly wholesale, retail, online arbitrage can be done within Amazon, you can open an account, you can get it going. If you are unable to keep it within the first, you know, 30 days or so that’s a typical kind of problem with Amazon, they like to shut those accounts down, especially if you open them up under a personal name and not a business.

Once you get going in that, you know, your whole goal there is obviously determined product quickly. And the truth is, and no one made me want to tell you this, and I’ll tell you this because I have no problem. It’s faster to profit. It really is faster to get profit for products that are not private label that are wholesale, that are retail arbitrage, that kind of stuff. However, while it is faster, it’s kind of the tortoise and the hare right? What ends up happening is you will run into problems with scale, you’ll run into economies of scale that very difficult. We have personally met that firsthand by raising 10 to 12 people into a 30,000 square foot warehouse, moving five wholesale trucks a week, tens of thousands of products every month, and it literally was not profitable. Labor was intensive. Aspects were intensive. Then the the management of it was intensive and all in all the hamster wheel profitability the 80 plus hours a week we were working to make it go.

It simply wasn’t out producing, and out scaling, and out creating organic opportunities for the business that the private label brands were doing in the background. And they weren’t taking hardly any time to do it. And we got too much time on our hands and we thought, let’s try this and that was a really dumb move. So guys, listen firsthand experience, if you’re going to be doing those kinds of things, number one, you’re going to jeopardize your account. It’s project transparency, project zero. We don’t encourage you to go do that those, they will find you.

They will find you eventually, they will shut you down. You will find good products to sell but you can’t repeat the process. You’re going to keep looking for them. It’s very, very manually labor intensive. And wouldn’t you just like to make that a lot more simple? Would it be great to find a good product that just continues to sell, makes you profit and then you just keep going back and ordering that same profit product over and over and over again while it’s growing, while it’s making money, and creating less stress while still growing, without having to create 30,000 square feet of warehouse space and hire 12 employees? Wouldn’t want that? Right? So that’s why we constantly focus on the FBA mechanism.

So I’m full of fresh air. I just got back from a hike down into the woods with my family. We went more out hunting, and we found some in the hills, it was great. And we just got back from them a little bit ago. So I’m full of fresh air and I’m full of (…) , probably too. So we are going to focus predominantly on private label, we’re always talking about that. The tool does help you align quickly with arbitrage-based products. It does support wholesaling in that model and methodology, because a lot of you want to get started in that way and I completely understand. But make no mistake, the sooner you can move a private label product into the market, the longer it will last, the better the longevity will be, the higher your profit margins will be and the less stress you will have in the long run, and the more profit and money you will ultimately make. Okay? So you can gain short term profits very quickly going those other seller methods, but they will simply be difficult to scale. They’re going to be extremely costly in the long run. You’re going to put a lot of time and energy and effort into it, and Amazon frankly doesn’t want to play ball with you. They just don’t care. They don’t want to be that guy. Okay? So that’s where you’re gonna find yourself running into trouble with this. And ultimately, you want to stay away from that. If you want to go long if you want to go deep, heart and big in the seller market and you want to get to the level that we’re selling at, the level our clients are selling out, the people like Matt Harwood, the guy I talked to you today, David who’s doing 10 million a year, you need to be scaling with private label products. It’s the only way to get those kinds of numbers. And so I just want everyone to be very clear, everyone who’s brand new to tonight’s call, I want to make sure you understand that tonight is not just about the software, it’s about the methodology. It’s about selling. It’s about product research. It’s about sourcing. And it of course, is learning the mechanisms of becoming a great seller and understanding that there’s a support network out there and there are people like us who are willing to help you when the time comes to help coach and mentor you to get to that kind of success. And I know a couple of you who are on this call today are in that training program, and I hope you’re enjoying it. I think you’re enjoying it and hopefully you’re learning from it. And obviously I know a couple of you’re getting your sales going and your products going and everything is moving forward. I know that’s what’s happening. “Love it,” Rebecca says. Great, great, great.

Okay, so let’s move forward with some product research. That’s why we’re here tonight we’re here to learn about products we’re here to… Well, guys, pick my brain, you know how everybody wants to do the Bing brain picking thing and it’s like, “Gosh, if I could just pick the brain of someone who’s doing this,” and you know, you mess a jam them and everybody’s like, “I hate it when you go pick my brain,” because it’s never planned and it’s always off guard and you, guys. would not believe the amount of messages that I get across my social media and other stuff where people just want to quote unquote, pick my brain. So I don’t love to do that on a lot of one-on-ones, I simply don’t have the time to do all that. This is your chance tonight with having purchased the software and being a member of ASINspector and in this free academy and this training and these lives, you can pick my brain. So this is your chance if you wanted to do it. If you want to know what’s going on with 7-figure, 8-figure sellers, this is your chance to do it. Tried and true man, I can tell you, this has never been another time like this. I will tell you point blank with 100% truthful, staring you into the microphone and the camera tonight, there is never been a better time to get into e-commerce is going to absolutely explode. It may not feel like that to a lot of you right now, but there is a fundamental shift that hasn’t happened since the Internet came online. And I was talking to that, David today about that. We were spitballing the possibilities and he was giving me his insights and we were sharing a lot of commonalities, and what we believe in what we see coming forward. And when you’re doing the kind of business, we’re doing in the circles we’re doing, you know, that we’ve got our finger on the pulse. There’s a lot of people, business and money that’s moving around these circles. And because of that we really want to know what’s going on and that’s part of the reason we talk to each other is like okay, “I’m seeing this and this is what I’m thinking and I’m going with this strategy. And you know, what do you think about that?” And I’m like, “What do you think about this?” and we’ve kind of bounced each other off. It’s almost a little bit about consultation between each other, right? To figure out, if we’re all going in the right direction, we saw some really good things. And definitely one of them is, you know, stay the course, right? Because even if Amazon makes its change, and it will to adapt to, you know, the reopening of states, and things that are occurring at the time this is being recorded.

Obviously, for those of you who are watching the replay in the next month or so, this will probably have all changed again, because so much is changing. We want to make sure that we are staying true to what we’re going to be doing and you know, we’re going to stay the course we’re going to stay with FBA, we’re going to be moving products back in. Amazon has to reopen very soon. You, guys, are not aware its inventory is within 80% of its normal capacity, meaning it’s about to be 30 days outside of almost half of the third party sellers running out of inventory. Can you imagine what would happen if of Amazon’s third party sellers which makes up 58% of all of its sales in the next 30 days they all run out of inventory? What would you… We’re not going to, he’s not gonna going to, but we know people that will and are right now, can you imagine what that’s going to do to Amazon? If literally, you know 40% of that was gone, 35% of that was gone it’s just it would be an astronomical hit. Right? So I think that’s what they’re seeing and that’s why Jeff Bezos is stepping back in right now. He’s like, “We got to fix this thing and fix it fast.” They gotta let us put brought it back in all the third party sellers. They’ve got to just get it fixed and they’re gonna have to figure it out like really fast. But of course, in all of that, there’s opportunity. So let’s talk about opportunity. Opportunity to sell products and get your product into position, get your samples in the market, get embedded, get your product and brands ready to go because when it opens up, it’s going to come back incredible. All across the nation is going to come back incredible. It is looking to be like an amazing time, frankly, coming off of this. So you, guys, pay attention because this is gonna be fascinating to watch, very fascinating.

Somebody’s asking, Oh, Talar. Talar’s asking, “Neil, do you sell books on Amazon?” Well, no won’t touch them. Sorry. It’s way too saturated, not enough profit. You can’t private label those kinds. I mean, you can, but they’re technically they’re oversaturated by the publishers. And so we don’t touch books of any kind. We don’t book flip. We don’t do any of that. Why? Again, that’s back to your flipping books, you may be doing it FBA, but you don’t own the product, right? If you own the book, that’s a totally different thing. If you wrote the book, you know, that’s the Kindle publishing side and the publisher side where you can do the digital and you could do an actual book, physical, they’ll make a book for you, that’s totally different if you’re the author. It is not the same if you’re trying to sell someone else’s books, or you’re actually flipping those books. At the end of the day, you are no different than the retail arbitrage flippers, the quote unquote “dropshippers,” then the wholesalers and those kinds of accounts, even if you’re sending it into FBA, you don’t own the product. At the end of the day, if you stop working that mechanism, it shuts off. It’s done. There’s no more, it doesn’t continue on. Like, it’s not difficult to run an FBA business when it’s up and running. There really is like cost on a car, right? That’s where you get your best gas mileage. So writing a book totally different. Writing a book, if you want to get in do that kind of thing, you know get the effort, you got to get some established author. We won’t go into all that tonight, because that’s a whole another side of the house. But the simple answer is no, we don’t sell on books and we don’t write books and put them into the market right now. I’ve got… Maybe in the future we’ll do that as a business.

Let’s see, question. Question: Sellers, it seems that there’s a lot of issues going on with sellers help that needs to be bought driven, that sellers aren’t getting any help they normally would. Do you think that’s a problem to (…) also? It is a little bit, Rebecca, in terms of the support network which is a bit overloaded and certain components of Amazon are disconnected in the way that stellar performance looks at things or you can reach stellar performance outside of the normal rep. practices which gets you in through the seller central support side. It’s little bit less on the private label side, but it’s definitely a problem if you get a false positive. If you’re running an account that gets a deemed for some reason, because the bots shut you off temporarily, you know the AI engine has these other bots and stuff moving around. And if you get a false positive, you’re going to run into some trouble right now getting it back online. If you run into a false positive or account termination, typically, you’re going to find that you were in violation somewhere, you were in a grey area, you were running one of the other type of seller accounts. If you’re branded, if you’re private label, if you’re running FBA, if you’ve got your trademarks, if you’ve got your brand registry, you’re just not running into those problems, guys. And I’m trying to help you all understand that as much as possible.

Do you think this is something they are… Oh, they are actually working the crop. Our account reps are really overloaded. We have direct account reps, that’s a rep. As soon as one of the things I was talking to David with the day, he has direct reps into the business that are dedicated to his account, just like we do. And they’re you know, they’re running like crazy to maintain things in the background. They’re overflow as well. Amazon’s trying to hire another 75,000 people from the hundred it was trying to hire before. So they’re just trying to keep up on things guys. So that’s both what’s happening that I know that’s a little bit of scuttlebutt and then of course we saw you know what’s happening in the market right now.

With Bezos going back to work, things may be shifting pretty quick. If you’ve got the seller performance or seller, excuse me, central newsletter that came out earlier, then you should be aware that the three major bullet points within that they pause repayment of all Amazon lending loans until April 30th. They waived two weeks of inventory and storage fees. They waived the April 15 long term storage fees for inventory, so that’s going to be helpful. Excuse me. They are obviously trying to beef up support by doing this thing, fulfilment capabilities, and regular operations are trying to you know, ensure us that they aren’t going to to hurt our accounts, it says to protect your account, ensure these difficulties, don’t affect your account health, we stopped suspension of selling accounts on high order defect, high cancellation and high shipment rates. These changes will stay effect until May 15th. And will be extended as these are appropriate. Making reliable promises to customers isn’t particularly important in this time.

So as I mentioned about a week ago, I think on one of these lies, if you, guys, were paying attention, I mentioned they’re gonna have to do something because they simply can’t just ding everybody for them not being within their terms of service or their agreement to us as sellers when we signed up and paid for the service. They’re out of compliance. And so they’ve addressed that which is cool, they’re trying to do the things they can do correctly. And as you remember or heard me in this last recording, it was about the fact that they couldn’t keep that up for too long, because then in essence, they were out of their own compliance. They’re not delivering products in two days. They’re the ones you know, delaying things that says, “Well, we should be here on Tuesday, but his show is supposed to show up on May,” You know, May 30th. I don’t know how many times if you, guys, have seen that just ordering in the system as an actual customer, it’s kind of fascinating because all of their systems have just you know, “carte blanche” everything is being pushed out 7 to 14 days. And then what ends up happening is you check the app or whatever for your order, and then it shows up like in four days, right? So they’re really trying to manage customer expectations while still trying to stay ahead of delivery. So I know they’re trying to stay on top of it. But you know, it’s just a big business and you know, at the end of the day, they are going to do their best to hold up to this but you know, at the other component of this business, let’s just make sure we understand something, we’re riding on their platform, we are. And that means it’s their business and in some ways, you know, they don’t care as much as maybe we would like them to care because again, we don’t want to get the emotions. This is a business. So do be very clear, Amazon is the starting block. You do not want to be channel locked for Amazon. Okay? Even if you came in from Shopify or never, you know, another store front another, WooCommerce, it doesn’t really matter some other storefront out there. If you were on eBay and now you want to start selling on Amazon, or you started on Amazon and eventually you’re going to want to go to another channel, you will need to pull up additional channels, right? You will need to get into other stores, you’ll need to get your product into other channels. You know whether it’s eBay, or Groupon, or Walmart or your own Shopify stores pay traffic later on, all your brands and stuff should be multichannel. Amazon should become eventually just a channel in it, right? Because the Amazon, by itself, does not make a complete business. Let’s just be very clear about that. And I want to make sure that the set out loud for anybody who’s listening to this, just having Amazon sales does not establish 100% of your business, right? It is a starting block. It is the component of your business, and then you got to move to additional channels with those products. You definitely want to move forward, okay?

Solar says, “I ordered stuff two weeks ago and it should get to me in three weeks.” Yeah. Why don’t we stuff is like if it’s non-essential items, you’re gonna find all kinds of funny things happening. Stuff you’ll order and they’ll come back and say, “You know, sorry, we can’t deliver this now. We cancelled your order because there’s no inventory.” Like we had that happen the other day, right? So what are the best products to be looking at right now? That’s a great segue, GB. Let’s go into that. Let’s share screen and let’s go to Amazon. Go to Amazon, fire up the Amazon. All right.

What are the good products we should be considering, guys? I’m gonna read…It’s not rhetorical. Let’s actually ask that backwards. Let me ask that back to you, what products do you think that you should be into right now? I’m curious about what you, guys, think. I know we’ve had a little bit of talk about this last week and we can keep into this right now, because I really want to hear where your guys’ brain is at and then I’ll tell you where mine is, and what we are doing and where we’re going. So definitely, let’s ask that question back in reverse. Where do you, guys, think you should be? Should you be selling face masks and viral creams? Or you know what else should you be considering, right? What could be a product that doesn’t just work now but could work in the next six months? Right? Obviously, this would not be the best time to get into product that you know this might be a seasonal type of situation, where you might be ordering products and stuff that aren’t going to sell now or next month, or this month they would sell great but next month they’re not, simply because you know it’s a more of a seasonal product. You kind of want to be considering stuff that has to do with what we call again evergreen, evergreen or blue sky like it is as a potential to sell all year long. Okay, that’s really important to consider.

So pet, we got pet yeah. Health issues, baby items and outdoor items, recreational DVDs. I’m just reading your list, guys. Soap cleaning products, okay. Anything that we’ll be dealing with the family being at home? Yeah, you know what that can’t go wrong, that couldn’t go wrong before this whole pandemic thing kicked in, right? Anything to help with family be around the house that supports the family? Because remember guys, what’s the major demographic that you should be looking at for online sales? Not just Amazon, but online sales. What’s the major demographic? Yes, women, 27 to 35. Why? Anybody? Justify your answer.

I know Rebecca knows this because she’s learning it firsthand inside of ASIN360 as well as she’s on here. Sharon’s on to games. Absolutely, games are fun. Yeah, right. I mean, you, guys, sort of know this to a degree but after selling so many kinds of products on Amazon, so many different kinds of products on Amazon within 27 to 35 do the majority of buying for the household. They are typically of the age where family and growth is important. Maybe having first children or even second children. Following them through that lifestyle means getting into brands that they really love that they’re going to be a part of. That’s where a lot of the buyer demographic growth, demographic maturity, based buying, decisions start to change with life based on you know accounts that occur accountability. It changes when you have a kid, your family, getting married, settling in your first house, right? I mean all of these things have to do with those life-changing moments.

And we all know quite frankly that men don’t like to shop too much. When we do shop we like to shop in certain kinds of categories that are very manly. And the ladies know that, and so they don’t really go there. Like we order you know, auto parts and we’ll do some outdoor gear and we’ll order some mechanical stuff. That’s what we do. I have a shop full of it, like a 1500 foot, you know, shop and most of it is for wood projects and operating and machinery and all kinds of stuff we’ve got out there that we do with myself and my my dad, my father-in-law are very busy, and I shop all the time. But you know, we’re not ordering towels. We’re not ordering dishes. We’re not ordering the food supply. We’re not ordering major everyday renewable products that are capable of setting up for things like subscribe and save.

Like, this is a really mindset oriented call tonight, folks, I know I want to get into Amazon. But this is a big component of what I do when I strategize with people and when we talk about businesses, and we talk about the strategy of businesses, this is a big component of where I operate in our company, as as what I do to lead the company in the marketing and everything else. So that’s why you hear me speaking to this. You don’t always hear me speaking tactical. Reed is our tactical guy. He’s our operational guy. He’s the one down at the logistic level and he would answer things very different. I’m at the drive level, the brand level, the business level, though, like where are we taking this thing?

And women 27 plus to 35. Guys, it doesn’t matter what you might think about, “Hey, you know what, I don’t really know any products in the women to 27-35 range.” Doesn’t matter. We were just joking about that today with David. He’s like, “You know what, I got all these products all over the place.” And when he named you three or four of them, of course, I won’t tell you, but they were all geared towards, you know women, right? So we want to make sure that we align with products that fit that demographic because there are millions of them. You can go into all kinds of niches and guess what, that’s where they’re all buying the products, right? I mean, I don’t have to show you any farther than my account, which is already setting here since 2012. Who’s doing the kind of ordering in my account? Okay, I’m going to show you, guys, into my life for a second. I probably shouldn’t do this, because this is gonna be like, maybe embarrassing. But you know, we’re doing some weed cover stuff for our garden. So Katie was like, “This is the best price. I’m gonna order this for our garden.” I didn’t order that. I did order this. But look, it’s a tool. Guys. This is a really cool tool, by the way. It’s a contour gauge, like this thing was awesome. I found this, I’m actually looking at sourcing it, quite honestly. So this thing is really cool. And for the guys on here, you’re going to know exactly what I’m talking about. Right? This thing for 998 which is way too low to sell, I was actually looking and considering some bundle options, but this thing is gonna be great. I got some woodworking projects I’m doing for outside for the garden, I just built a double bin compost thing, which is absolutely fantastic. I’m not going to show it to you because I don’t want to brag because I don’t wanna be arrogant, but it’s a really fun project. We just got it done. Double bin compost built-out, you know, 2x6s and 2x4s. And what I needed was one of these to do it, another product my dad and I are working on for his garden, he’s building a four foot by six foot raised bed for him and mom, so they can kind of get into a little bit of a one foot deep. And so we’re going to need a cut on a corner for where the bottom half is going to go in and I’m like I need one of these things. So I came on Amazon did some research, you know, here’s that product. I bought a tool. That’s the guy thing that was the whole point of that conversation.

So we got like animal stickers coming in. You know we got shampoo. We got my wife found this stuff, she absolutely loves it. It’s the non-dairy coffee creamer, cocoa powder stuff that goes in your coffee. She loves this stuff. You know kids toys, Jif peanut butter. I didn’t do any of this. Okay. My wife is in this demographic. Here’s coffee, shampoo… Like go through your own list and source this is like you know, online Amazon urban Amazon person hacking sourcing. I mean, there’s coffee filters, there’s posted blank notes in here or this thing. What is this? What is this? I don’t even know what this is. Oh, a brush dog undercoat rake mess. So there’s pet sharing, there’s a pet product. Somebody mentioned was that you who mentioned pet? Look, here’s a pet product. How much of that? 11.99, too low. Probably but yeah, it’s $2.20. Definitely don’t want to source that. But could it be bundled? Could you put it together with another product? Could you build a little pet package, right? Then maybe has, you know a dog bundle together and make that like a $40 deal with has like $20 or so in profit in it? Yeah, you can absolutely do that. Never underestimate the power of bundling, right? Single products, cool. Bundling?Better, like here’s one. What do they got? Is that a pet? Look, look at this. They got a little pet thin, a comb and a flying hair and it comes with a perfect gift. Pets. What the heck is that? I can’t even read that. Oh, pet tag, comes with a pet tag. Check that out, all right. So I just found that other product that my wife bought and this one comes with a pet collar.

And so look, we’re getting closer to profit. It’s almost green, right? Everyone, 16,000 at 8.86. Okay, get your cost of goods down. Boom, $30, $10 in profit, you found yourself a product. It’s a component. All they did was just create a better product, a difference, a point of difference. What’s the point of difference, folks? What’s the point of difference? Can anybody see it? Anybody? Bueller? Why would we not sell this product versus this product? We’re live, we’re sourcing live. We’re analyzing products live. Anybody? Not just because I had it 30% but because I could get it relatively close. It’s branded, its point of difference, is it comes with a pet tag? How complicated is that? This one has no pet tag. Okay, for 11.99. This one’s 24.95. Okay, but look, it’s the same stinking product. This is 11.99 retail. This is 24.95 retail. It has a pet tag, do you see the point of difference? That’s kind of the best example I could give you, guys. I’m done for this evening. Please take that I’m out of here. Peace. Love to you all have a great evening.

In all seriousness, if you don’t understand this concept right here, then I can’t show you anything else about what we’re going to talk about tonight, or tomorrow nigh,t or next week, or next week. Like here is a perfect example of two of these, and we just happened upon it, right? $2.20 in profit on this product at 35% cost of goods, this seller who picked this product all right in, got it in rakes. All right? They’re in rakes too, but they have the first note BSR over here. And these guys are 15, the difference between 15 and one. Do you see the difference between 15 and one? Their gross profit right at 10 if we get the 30% cost of goods, okay? If we take it back to 35 we’re defaulted there. 8.86, it’s really close. Okay, they’re at 16,000, and over here, you know, they’re making 275 bucks. And these guys are making 275 bucks and we just gave him 11.95 of it. Katie should have bought this one. Makes all the difference in the world. The images are better. Okay, the product is better. There’s a point of difference between these two listings. And it’s the same freakin product, guys, like literally okay. This is so fun. I love doing this case, you can’t tell. So branded packs together.

Somebody’s asking Neil back to the workshop, how much access have you had competing with Harbor Freight Tools? I don’t have to compete with Harbor Freight Tools, I don’t buy their products. So let’s go over here to Alibaba, and let’s just see what happens when we do this. Oh, look, image search and image search is not showing the exact same product. Let’s see if we can kind of maybe narrow it down here. Okay, okay, we’re getting closer. A little bit of a difference and we’re getting color is all of a sudden. It’s not wanting to do a good job with that image search, is it? Maybe we can choose a different product image? Yeah, we’re not even finding exactly the same one on that. Are we? So let’s go with a two-sided undercoat rake. That’s the fun with this. Sometimes we don’t get 100% into it. Two-sided undercoat right, there it is. Okay, so right out of the gate. And of course, we’re looking at China and somebody brought this up the other day and we got to, you know, bring us back. So yeah, that’s China but look there’s even suggested United States sellers. Oh look, you can get one from the United States. Check this out, this one is also from the United States. 279 for 1000 pieces. Okay what did our fulfilment Cost of Goods need to be to compete with this product? $8.73, ba, ba boom. All right, so let’s look and see how close to the other product this one is pretty darn close as a matter of fact it’s really close, really close. They got two-sided. This is probably two-sided too. I can’t quite tell. Ready to ship, United States, folks. Okay people like, “Yay, can source with United States.” Yeah, you can actually we’re doing it right now live. Okay, so yeah, that’s a double-sided green one. Okay, cool. They only got it in green, but that doesn’t mean they can’t, you know, fabricate a mould for different color it just means their primary seller is green, which doesn’t necessarily matter, right? This is a blue one. You could just as easily sell a green one and find out how it sells. Now, let’s look and see what we got here in terms of competition. Blue, we want blue and green one might not be the best color. But hey, you know what? You can work with us?

The whole point was to show you, guy,s that look, I can find it in the United States. Right there is the United States. So let’s go out of the United States just out of curiosity, because you saw that was 279. That was the whole point of looking that guy. So if we come back here, and we take our cost of goods down to 279 all right, before we’ve added on. Okay, we’re at 1480 in profit, right? Okay, now we’re over the target. So we would have to then take this product and say, Okay, look point of difference. Really nice packaging. Okay, we can do that. That’s not a big deal. Packaging isn’t terribly difficult. Yeah, cute little puppies and a cat very smart. You got the, you know, pet owner, pet tag. Alright, so we’re going to combine. Let’s see, this one was in the United States. 200,000 pieces. We can even do you know, lower pieces, we could do a sample market of 200 to 499 pieces for 443. Okay, 443. Let’s go back over here. All right, we’re still at $13 in profit, not bad at all still above the $10 threshold. Okay? So we can get a couple hundred pieces, test this out a couple hundred pieces. Guys, follow along with what I’m doing here, everybody’s still understand what’s happening? We’re in the United States. We’re shipping from the United States, we’re getting it from the United States. Lead time, 15 days, five days, I’m sure we can fix that by just changing some of the… They only have one, that’s okay. So we’re looking at the same products. Let’s go down here real quick to see what China has to say. You know, 285, 280, not big difference, not a big difference. Here’s the different kinds. Here’s the blue really close blue one, actually, you get two piece, minimum order. Check that out. I wouldn’t go after two pieces. If you’re going to do this, it’s just way too small of an order to really figure out if you’re going to make this thing move. Look, this one even has a nice kind of packaging on it. We got the blue ones, we got the pink ones and the blue ones. That one caught my attention because I’m thinking pink and blue, right? That’s cool. (…) rate a one-year-old seller. Okay, not bad. Pink and blue.

What else are we seeing, guys? You guys can do this along in the background if you want to, if you got your tools open, go in there, check it out. All I’m wanting to do is go through the exercise. Are we gonna necessarily sell this product? No, I’m wanting you to hear me, see this and learn how this can go out right? And how you can actually source it and figure this out because we’re doing it right now. Right? So ready to ship two to three so you can get 100 pieces off of this guy. Nine year trade assurance company, they got a really low response rate though. I don’t really like that response rate. That’s way too low 67%. Let’s go down 68, 94% six years verified seller. 4.5 stars blue and pink. Okay, you can get, you know, 100. Look, they even got the product video. Very cool. So you can get 100 to 500 pieces in 15 days, basically the same amount of time, check that out. Three bucks, you can get 500 to 1900 and 90 pieces for 270. So there you go, folks, $3 to 270, I’m at 4.43. So let’s say I could get that for three bucks. Okay, now we’re at 14.82.

So what are we gonna do at this point? Obviously, we know that this is just the tool itself. What will we do next? Anybody? We could go do what the dog tags, right? We can bundle. We can make a tag, you know, a different kind of dog tag, we can make a, we could throw in a dog and a cat tag, right? So let’s look at tags for animals. Animals, (…) animal tags. What I should search for? Animal tags. Let’s just try that. Animal tags, plastic tags. Let’s try pet. Getting too far off in the line here. We’re going to go after this brain. Okay, so there we go. We’re getting some FedEx. Oh cool. We got different colors, sizes. Look, this has a QR code. That’s a bit of a point of difference, isn’t it? Here’s one that’s positively safe, PetFinder with the QR code on the back. That’s cool. Oh look, this one even has a little vegan leather pet dog bark color. Okay, that’s clever.

The whole point I’m looking for right now is is there a point of difference that I could deliberately borrow this from, guys, and just say look is there you know, I know this I know it’s selling well. If I could come in, you know, number two on this, okay? There’s a possibility, you know, for making five, ten to $15,000 a month just being a second seller of a product like this with a product that has a bit of a point of difference, right? Here’s a color rainbow one. Here’s a different kind. This is a little one.

So what I would do at this point, guys, if you know if this was me, sourcing through this concept, I would look through and kind of say, “Okay, what’s interesting to me, I’ve got kind of pets,” But then I would actually go over and do a little bit more due diligence on the backend of this. Like I would come over here and in pet supplies. You know, we’re looking at grooming or dogs or pet supplies, we’d actually come in here and start looking for like pet tags, right? We’d be looking to say, okay, who’s selling the bestseller pet tags, okay, these kinds. All right. Here’s a custom tag. Okay, we wouldn’t want to do custom per se. These are pretty tags, right? I mean, they just have one, right? I mean, pretty clever. It’s for any animal, it’s a pawprint. So we’re going to look and say, “Okay, is there something in here I could bundle together that doesn’t necessarily require customization?” You, guys, follow where I’m going? Okay, here’s a lucky flower pet that’s not really selling all that great. But we are kind of just looking through the market and doing some due diligence, okay. I would keep going through this but what I would be looking for in this way is a bundle that doesn’t necessarily require customization.

So let’s go to you know, we got cat tags, dog tags, cat collars, basic dog collars, small animals. You know, we can kind of dig into this a little bit differently, you could angle it towards the dog, if you wanted. You know, here’s just ID tags at its lowest level. Custom engraving, again, more custom engraving. Here’s one again with just a pawprint. So what if we could just get with a pawprint like this, it didn’t ever, yeah it didn’t really have necessarily anything on the backend. It’s a little bit like that one, only it’s a little bit nicer. It’s got a little bit more depth into it. Maybe we could source something like that. So let’s say hypothetically, we find a product addition, something cool, we bundled with our grooming tool. And that estimated addition, okay, maybe this one. I’m just picking something random. Okay, this one got a ton of different colors. So we’re looking at a product that roughly got a cost about 3.48. Why are we looking at that? Okay, so we knew this was going to cost us three. So let’s say it cost us another $4. So our total cost of goods for the two products, I’m just estimating this at the count level, is going to be like that, right you know, A leash, and a collar, a dog collar… Some sort of point of difference is really what we’re going after. But we don’t want to go too far away from this one, we want to find something a little different. So instead of a, you know, Pat Your Pet, this is the analogy that we’ve done on our training before guys, this was the difference between like a seat pet and a belt buddies. Like we have the belt buddies, and the other guys had the seat pets. Well, this is kind of like a seat pet. Okay?

Come in with a belt buddy. So they got to pet your pet. So maybe you’ve got a rat your pet. Okay, that was really bad. I’m really bad at making up names. I will leave that to Reed. But you can see where you know, the opportunity is literally to just create a differentiator, point of difference and go right into the same one, find a blue one if you can, find another maybe slightly different point of difference with the dog tag or that kind of tag that would be on it. Okay? And then give yourself an opportunity, right? To get into the market with a known product like this obviously sells. There’s more than one of these kind of products out there. We know they’re selling. It doesn’t appear to be very saturated per se. These are demanding tools and rakes.

So let’s just go up to the macro level real quick. All right, so this is where the rubber meets the road. That’s why I wanted to take us back up here. So you saw me go down here, you saw my due diligence, we found that I could even get a US based supplier because people argue, “Well, is it just China? Can we get it from the US?” Well, yeah, absolutely. We just proved tonight you can get it from the US a product if you go in filter differently and take a look. You can get products from the US. So, for anybody who says you can’t, that’s, you know, that’s actually not the truth. You can actually even go in here in the United States, and you could look for any kind of brushes, filtered by the United States. You can filtered by many other places, Mexico, China, India and all kinds of stuff, you just got to go to the supplier region. Look at the different locations where they’re coming from. Turns out, you can even get some of these from the United Kingdom, it looks like. Whatever that is, let’s clear all the filters out here. So you can go in and search different channels, different locations. And that’s important for you understand, I want you to get that also how quickly we went into kind of diversifying as I wanted you to see that too. And we could see how fast we could get in relatively cheap to some of these kinds of products while still making a decent profit margin and getting in the market. Right? So there’s a little bit of saturation in this. I mean, I’m still getting hot releases, recommended, most gifted, you know, the best sellers. Let’s just poke along here for a second. Best Seller, these are a little different. This one’s got more of a handle on it. It’s got a little bit of higher affinity. Price points are not terribly great. Although, you know, this one right here, two-sided professional grooming, they’re charging 29.99 for that one. Okay, whereas this one’s only charging 10.70. We’re just kind of playing around with this niche just a little bit and we’re talking about tonight, guys, we could put in some differentiators, you know, there’s our bestseller here, dog and brush at 24.99, 39.99 for this one.

Now this one’s got a undercoating, groomings for dogs, same as the old… Wooden handle, made in Germany 30 (…). So they went after a little bit of a higher affinity on this one, obviously, with the 39.95. And this particular listing sucks. It just sucks. There’s no other images. Look, I mean, how many dogs they just toss this thing up. And for it, they’re paying a price right? You know, 4.29 on this particular version, one of these you know, might sell better than the one we just clicked on. You know, data’s not even pulling back from that. But yeah, that one actually just kind of sucks. They weren’t really trying too hard, guys, you get an opportunity with that. Obviously, they’re going to run out of stock soon.

So a little bit of a saturated niche for this particular kind of product. But obviously pets and stuff is a fantastic place to go in. So all of that said, we’re actually getting close to the end of the hour at how fast this stuff goes. You saw the two different things we went after, you saw the two different products. You saw how immediately it found one product and another product with a different point of difference and a better branded product was able to be discovered literally from my own shopping list. I like damn apples literally out of my own shopping list tonight. So I don’t know what thoughtful due diligence my wife would have done to get to this point, but of course she is very considerate of animal, so she decided that this is the one that made the most sense to her and I’m pretty confident it wasn’t on just the price. It could have been that really cute cat sold her over with the good pictures.

But really, you saw how we went in we went lateral, we looked at the products, you know, we saw which ones were selling, which ones had the opportunity and of course we looked into the profit of those two. We identified very quickly why is this one not selling better than the other one, right? We saw this one selling at $24. It’s moving a lot more product. It has a point of difference. It has a more professional listing, it has better packaging, it’s got a better message and of course, all of these things combined as a better brand are producing much better results. And that’s part of the thing I wanted to show tonight.

Obviously we just stumbled upon it, but there we go. That’s a very, very good example. I could literally in the call on this and I think I will have what you can do between these two products and how you source these two products backwards. We can obviously find them anywhere. We can look for a point of difference, at least a slightly nicer you know pet collar type of thing that’s gonna have something like this on it, got my attention, it’s got a little bit more leather, it looks a little nicer, you know, willing to pay a little bit more money for a nicer kind of product, you don’t necessarily have to have it carved in the tag, you could just get it so that it’s clean and they can have it carved themselves. You know, and you’re looking at 50 pieces between 280 and $5 a piece, like a genuine leather dog collar. Okay, between 280 and $5 a piece. Well, adding that into the brush, you know that I don’t see that like look, I’m not seeing that as a point of difference, there’s a potential point of difference. If the product cost makes sense and the profitability can go up, then you might have found yourself a good point of difference, right? Dog tags clearly work, why wouldn’t necessarily a dog collar?

Now the dog collar doesn’t have to be a custom product per se. I mean, you can set it up to be evergreen and I wouldn’t necessarily try to go for a custom, especially if you’re just kind of getting going. Obviously, this can be customized, according to you Alibaba, but you could just as easily get it not customized. And they could go get it customized down, you know, their local vet or whatever, right? That doesn’t necessarily a, “Hey, I can’t get a customized. I don’t want to buy-it-moment.” There could be people who are gonna say that, of course. But that isn’t necessarily the case, right? I mean, we’re looking over here at this one. And that’s not a customizable dog tag, right? That I could tell. Maybe it is and I just didn’t go deep enough. But you can also set that up on your listing, if you wanted to set that up. It’s a little more advanced, but it’s doable. What you’re going to look at is something that I can add additional value that is more evergreen and not necessarily customize.

So, you know, here’s a brand comb match for this one, they’ve got this matching brush, matching comb kind of setup, that doesn’t require customization, definitely a point of difference on that versus the other. But you know, they’re not, it’s not such a point of difference that adds a high enough level of value for them to get above you know, 20 bucks to get. And honestly 24.95 would be like the absolutely, you know, bare minimum for these kinds of products. And that’s gonna be right at the very top end of that and you know, you’re going to see, unless you try to go after something like this. You’re not going to get into the price points where the real potential profit is going to lie on a lot of these products. Even this one, you know, has decent profit even more than the other $18. But this particular, you know, this may even be an opportunity. Look at this thing, it’s not a debt, you know, it’s not really necessarily a bad product, they got a horrible listing. They’ve just gone in and said, we’re just going to list every variation of this product we can in a parent-child relationship. They did the least amount of work possible on the listing on the original. These are really crappy listings. What is that? It’s upside down. They got their logo upside down. Really? Come on, people. This is so much opportunity, folks, like just even this one like 42.95, it got 18.68. It’s a horrible listing and they’re still in their note at 112 and at 103 that’s right in line with a product target range to come in and take the opportunity for this. They are not making any money because they really didn’t make much effort. 115 in pet supplies, 112 in grooming rakes. Obviously, there’s interest in it.

Looks like somebody took behind part of their dog off using it, that’s not a good thing. (…) white. Can’t really tell. First it looked like that poor dog just suffered. “Impressed me enough to merit my first product.” Okay, so that’s good that the dog is not suffering. Everyone calm down the dogs, okay. They didn’t take the hair off. It’s fine.

Alright, but actually, this one’s getting decent. It’s been around for quite a long time. This is just literally waiting here to be taken over a good listing with a quality product, with good images in 42.99 and actually your logo on the right way, showing this thing can be done, there’s profit in this product. And there’s definitely as we’ve already seen tonight, opportunity in this market to go a little bit higher with a little bit better product and do it up a little bit differently.

So, you know, those are a couple of different product options to just play around with and come back and see if you can bundle, create some opportunity, look for your point of difference in the product and of course, look for that profit that makes sense. This does not make sense even if you got you’re down to 30. If we could get it down to 30, you’re still at 720, you’re going to lose. You’re going to lose, all right, and it’s not going to be profitable. I mean, even this is a better listing at the end of the day, it’s going to be moving units and not really getting a lot of profit and you’re going to die a horrible death.

I would go after a product like this first in knowing that this could sell with 1000 ratings at 42.99. This would be my first target at 18.64 in profit, 18.68 in profit. So if I get my manufacturing down a couple points, you know, I’m down to almost $20 in profit playing with my manufacturing numbers a bit, putting a better quality product online and then coming in like gangbusters to own this market and then just kind of dominating it, right?

There are other product opportunities. This one is obviously validated , is at 20. But the point of difference is to create a better product at a higher price point. You think, “I can’t sell that. This is 42.95, the other guys are selling it for 29.” Well, guess what? You can sell this product. The only reason this thing is still freakin set in here is because it’s been around. Where did that review come in? Like 2015? This thing’s been out here for a long time, man, this thing is right for the taking. Sharon, you paid attention to this? Hope you paying attention to this. Still with me? Because this one was what you brought up, right? We talked about a bunch of other products, pet issues and stuff. Yes. Cool. All right.

Guys, this has been fun. I’m gonna call it because it’s fine. Well, it’s almost five till the mid hour. One more question. Any other questions? Let’s bump it in there. I’ll let you, guys, like you heard my thought process. It. may sound a little bit disjointed to you, hopefully it wasn’t . really wanted you to understand the major components. as always profit, profit in the product, point of difference. The product opportunity, you saw how we literally just went lateral, up, down, across through the products. We didn’t just angle or stay hardcore, we’re not married to any one of these products. In terms of what we can do, what we’re really looking for is the product that could come in and say, “You know what, it’s got a different, it’s got opportunity.” It could be made original, it could change up a little bit. It’s got a listing that could be taken over in terms of its a product in the market that’s clearly selling. But obviously, it’s not making a huge point of difference in the market. And we’re also noticing that there are other products like it, although we could really make a difference in it in terms of that product and making a nice little product that kind of hangs out, makes us three, four, five, ten, $15,000 a month. And we get into that market and we create opportunity and keep going look at this one, okay.

So I mean, we’re just proving the competition is here, we just need to get our point of difference and get our better products in place, and that opportunity is sitting there. I mean, this guy’s at 39.89 but you know, he’s eating it on the profit. So he can’t market it anymore than he should be able to compare it to this market and that’s why you’re not seeing him at a higher price point, as well as a higher profitability. He’s eating it on this listing. He could be charging $30 or more as we just saw, but he’s not, because clearly they are not marketing this product on Amazon the right way.

So guys, that’s just all screams opportunity. I hope you see that it screams opportunity. This is just one little part of the pet niche we just literally ran into today as you saw straight out of my own shopping list. Guys, you can go do the same thing. Okay? Go play with your lists, look at the products of everything you just bought, or have bought in the last three or four months and then go in and started doing some product research. Why? Because if you bought it, it’s someone else’s brand. Why couldn’t it be your brand? Why couldn’t you go in and sell it for profit? That’s the whole point. All right, everybody has been great. Thanks for sticking around tonight. This has been fun. We’ll get the replay up later. Nick will send it out once it is put into the academy. And I hope you have a rest have a really good evening. Be safe out there. Take care, everybody and come back next Thursday and let’s be talking about this some more. There’ll be a lot going on, I’m sure in the next week as the things changed so dramatically right now. Be blessed. Talk to you all later. Bye.

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