I personally prefer the slideshow format. Much more professional, and we in the amazon community need to be professional and right to the point when we want to be learning about the business model. Thanks Jimmy for the sauce in a non BS way
Hi Jimmy, your videos are so informative and helpful. I am a new seller and I learned so much from your content. Thank you. How many units do you suggest purchasing to test a product? You talk about the sales and ROI, but what sort of capital is needed to be able to purchase enough product to be able to get to the sales needed to get to stage 1/$10K?
I'm glad to hear this Lainie! For testing units it will depend on Keepa but for new sellers I recommend somewhere between 2-6 units. If they only have 1 then buy the one, no need to pass up on it if it's a good product but having more than 1 will help you to know it does consistently sell. Obviously if Keepa is showing a bunch of sales and very consistent, then you can test 6, but if the sales are slower or the other info is more volatile, then you can test 2-4. For the capital - typically if you are buying right (and that is key here), then whatever you are spending will be multiplied out about 2.5-3x for the sales value. For example, if I spend $3,500 I should sell roughly $8,000-$10,500 of product. If I spend $5k, it should be roughly $12,500-$15,000 in sales. It's good to track your spend. The ability to buy more each month is important to grow. If you're always buying the same amount each month, then you will pretty much sell the same amount each month. As long as you can, roll the money back into the business so you can buy more products and keep growing :-)
Okay, Jimmy. I've watched it as you suggested. I now have some comments & questions I hope you'll take the time to answer. First, I really like the way you laid out the presentation. At 58 the simpler things are presented to me the better, lol. I've been selling FBA books for about seven years, average gross about $35-40K per YEAR (I'm definitely too embarrassed to state the net after all is said and done, lol); ASP of about $23-25 per book; only usually able to find 100-200 books per month in my sourcing area that are actually worth sending in (and many of them tank down to nothing thanks to the continual undercutting that goes on). The thing is, books get heavier as I get older. Toting 50lb boxes up and down stairs while having a bad knee is not good. I'm definitely not set up for eBay or FBM, but would love to shift over to selling things that are both lighter and NEW. So many used books are of low quality condition wise. I love the idea of NOT having to scan bar codes or only look for items that are in "discount bins" in the stores. I don't believe I've ever seen a "discount bin" at my local Walmart. I'm only interested-at least for now-in selling in categories for which I'm already ungated or brands for which I can be auto approved without having to deal with obtaining invoices, going through a wholesaler, etc. Would this model work for a one-man business? Truthfully, it's not the money that matters to me as much as simply not having to work either for or with anybody else, lol. I have no interest in employees, warehouses of my own, etc. I'm very familiar with Keepa for used books, but have never used it for New products. How much startup capital would one need to effectively jump start this model? How much is your course (truthfully, I find most of the internet "guru courses" to be vastly overpriced except for those who are already highly successful)? I'm assuming I could keep my present Amazon store (where I currently have a 100% rating) and just gradually add more and more non-books to it? I know I'll have more questions, but I'll stop here for now. Thanks.
Hopefully my below answers help :-) Here is the link to a video I did on the unrestricted categories new sellers can sell in without the need for dealing with restrictions: th-cam.com/video/tonn4g2RihU/w-d-xo.html Yes this model definitely works for a one-man business, my guess is 90% of the successful students doing this are one-person businesses, the other 10% have decided to grow and scale. I've seen people startup with $100 before all the way up to $20k. You can start wherever you are at and test products out. Personally I believe $750-$1,000 is ideal for being able to grow most quickly as a minimum, but again I know people have started with MUCH less. In terms of my course - if you're talking highly successful, we've had over 1,000 success stories and you can see over 500 of them at askjimmysmith.com/success. The course I have is a part of a HUGE collection of courses that you can get for $29 per month (I believe if you buy it outright, we price all the courses together at around $600-$700). We believe in getting people successful and removing as many barriers as possible. Here is my affiliate link for the course - bit.ly/paccourse OR you can check it out at my website at askjimmysmith.com/sell-on-amazon. There is an additional option after being in the course of joining my private replens Facebook group that has over 50 additional videos outside of the course for $19/month but that is not required for success and I have a free group I recommend at bit.ly/mstgroup that has over 65,000 members in it. Yes you absolutely could keep your current Amazon store.
Hiya Jimmy - really great video. I like the way it has been presented in Powerpoint presentation. I'm from the oldschool, and still love this way of learning i.e powerpoint slides :-)
Great video. I am wondering if there is a fast way to check other seller’s quantity and not just the # of sellers for a product through Keepa. Wouldn’t this matter as well or would Amazon still rotate the BuyBox among sellers of that product regardless of quantity?
They still rotate the buy box regardless of quantity. You may be interested in this video I did on Buy Box Theory - th-cam.com/video/1OkXj-fDjOA/w-d-xo.html
Hi Jimmy. I bought your book, Side Hustle To Full Time Income last year but did not see anything about a free jump start course. Where can I find this information?
In the 2nd edition of the book is where I included the free jumpstart course and free audiobook. They are in the first few pages for where to get them. If you email me at jimmy@askjimmysmith.com I can send you the info
Newby here. Searching for my first replens, What do you think of the Beauty and Health Category for that? Do I have to expect for big issues with gated products in that category? Thanks in advance
Health and Beauty is a great category for replens, we have replens in almost every major category. As a new seller you will probably find more listings that are restricted in this category due to the nature of the higher prices for some items and the specialty brands that are gated on Amazon though.
If you are approved to list generic products with a GTIN Exemption, then you should be able to. Although, Amazon doesn't like Generic listings and I would recommend getting your own brand name instead
I personally prefer the slideshow format. Much more professional, and we in the amazon community need to be professional and right to the point when we want to be learning about the business model. Thanks Jimmy for the sauce in a non BS way
Glad to hear you enjoyed it!
Hi Jimmy, your videos are so informative and helpful. I am a new seller and I learned so much from your content. Thank you. How many units do you suggest purchasing to test a product? You talk about the sales and ROI, but what sort of capital is needed to be able to purchase enough product to be able to get to the sales needed to get to stage 1/$10K?
I'm glad to hear this Lainie! For testing units it will depend on Keepa but for new sellers I recommend somewhere between 2-6 units. If they only have 1 then buy the one, no need to pass up on it if it's a good product but having more than 1 will help you to know it does consistently sell.
Obviously if Keepa is showing a bunch of sales and very consistent, then you can test 6, but if the sales are slower or the other info is more volatile, then you can test 2-4.
For the capital - typically if you are buying right (and that is key here), then whatever you are spending will be multiplied out about 2.5-3x for the sales value. For example, if I spend $3,500 I should sell roughly $8,000-$10,500 of product. If I spend $5k, it should be roughly $12,500-$15,000 in sales.
It's good to track your spend. The ability to buy more each month is important to grow. If you're always buying the same amount each month, then you will pretty much sell the same amount each month. As long as you can, roll the money back into the business so you can buy more products and keep growing :-)
Okay, Jimmy. I've watched it as you suggested. I now have some comments & questions I hope you'll take the time to answer. First, I really like the way you laid out the presentation. At 58 the simpler things are presented to me the better, lol. I've been selling FBA books for about seven years, average gross about $35-40K per YEAR (I'm definitely too embarrassed to state the net after all is said and done, lol); ASP of about $23-25 per book; only usually able to find 100-200 books per month in my sourcing area that are actually worth sending in (and many of them tank down to nothing thanks to the continual undercutting that goes on). The thing is, books get heavier as I get older. Toting 50lb boxes up and down stairs while having a bad knee is not good. I'm definitely not set up for eBay or FBM, but would love to shift over to selling things that are both lighter and NEW. So many used books are of low quality condition wise. I love the idea of NOT having to scan bar codes or only look for items that are in "discount bins" in the stores. I don't believe I've ever seen a "discount bin" at my local Walmart. I'm only interested-at least for now-in selling in categories for which I'm already ungated or brands for which I can be auto approved without having to deal with obtaining invoices, going through a wholesaler, etc. Would this model work for a one-man business? Truthfully, it's not the money that matters to me as much as simply not having to work either for or with anybody else, lol. I have no interest in employees, warehouses of my own, etc. I'm very familiar with Keepa for used books, but have never used it for New products. How much startup capital would one need to effectively jump start this model? How much is your course (truthfully, I find most of the internet "guru courses" to be vastly overpriced except for those who are already highly successful)? I'm assuming I could keep my present Amazon store (where I currently have a 100% rating) and just gradually add more and more non-books to it? I know I'll have more questions, but I'll stop here for now. Thanks.
Hopefully my below answers help :-)
Here is the link to a video I did on the unrestricted categories new sellers can sell in without the need for dealing with restrictions: th-cam.com/video/tonn4g2RihU/w-d-xo.html
Yes this model definitely works for a one-man business, my guess is 90% of the successful students doing this are one-person businesses, the other 10% have decided to grow and scale.
I've seen people startup with $100 before all the way up to $20k. You can start wherever you are at and test products out. Personally I believe $750-$1,000 is ideal for being able to grow most quickly as a minimum, but again I know people have started with MUCH less.
In terms of my course - if you're talking highly successful, we've had over 1,000 success stories and you can see over 500 of them at askjimmysmith.com/success. The course I have is a part of a HUGE collection of courses that you can get for $29 per month (I believe if you buy it outright, we price all the courses together at around $600-$700). We believe in getting people successful and removing as many barriers as possible. Here is my affiliate link for the course - bit.ly/paccourse OR you can check it out at my website at askjimmysmith.com/sell-on-amazon. There is an additional option after being in the course of joining my private replens Facebook group that has over 50 additional videos outside of the course for $19/month but that is not required for success and I have a free group I recommend at bit.ly/mstgroup that has over 65,000 members in it.
Yes you absolutely could keep your current Amazon store.
Hiya Jimmy - really great video. I like the way it has been presented in Powerpoint presentation. I'm from the oldschool, and still love this way of learning i.e powerpoint slides :-)
Glad it was helpful!
Great video. I am wondering if there is a fast way to check other seller’s quantity and not just the # of sellers for a product through Keepa. Wouldn’t this matter as well or would Amazon still rotate the BuyBox among sellers of that product regardless of quantity?
They still rotate the buy box regardless of quantity. You may be interested in this video I did on Buy Box Theory - th-cam.com/video/1OkXj-fDjOA/w-d-xo.html
Hi Jimmy. I bought your book, Side Hustle To Full Time Income last year but did not see anything about a free jump start course. Where can I find this information?
In the 2nd edition of the book is where I included the free jumpstart course and free audiobook. They are in the first few pages for where to get them. If you email me at jimmy@askjimmysmith.com I can send you the info
Newby here.
Searching for my first replens,
What do you think of the Beauty and Health Category for that?
Do I have to expect for big issues with gated products in that category?
Thanks in advance
Health and Beauty is a great category for replens, we have replens in almost every major category. As a new seller you will probably find more listings that are restricted in this category due to the nature of the higher prices for some items and the specialty brands that are gated on Amazon though.
@@AskJimmySmith Thank you!
thanks for this vid Jimmy. stuck at the moment at 1500 a month. still trying to improve my systems.
Congrats on getting to $1,500 per month! Keep grinding away, it's all about finding more products and feeding the beast that is Amazon!
How can you list an item legitimately under your own generic listing since many times you have no listing available to list in?
If you are approved to list generic products with a GTIN Exemption, then you should be able to. Although, Amazon doesn't like Generic listings and I would recommend getting your own brand name instead
This is very interesting. I am absorbing as much as I possibly can -
Awesome! Love hearing this! Keep up the hard work :-)
Jimmy, how much can you net on $100,000 per month in sales?
It depends on your business but typical net after all costs at $100k per month would be around 10%. Some do 5% and others do 15%-20%
Thank you so very much for this information!
🔥💙🙏
You're welcome! Glad you enjoyed it!
Thanks Jimmy!
You're welcome!