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…if you have a question that you want me to answer on an upcoming episode, just head over to theamazingseller.com/ask and do that. Just do me one small favor, I've said this over and over again and some of you are still forgetting to do this. Just leave your first name as you're recording your message. I want to be able to address you by first name and be able to say, “Hey what's up John or Sue or whatever.”
Then leave a brief message there and maybe even if you want to do this you could let us know where you're tuning in from. That would be cool too. Again guys, that is theamazingseller.com/ask and you can do that. Ask a question there and we can hang out for a minute and we can have that cup of coffee together as I always talk about. Now if you guys are listening to this after Friday well then whatever time of the day it is, the week it is hopefully you're having an awesome, amazing day and a week and I'm here to give you your dose of some of these questions that you might be asking right now.
That's what we're going to do. We're going to jump to that. Now I have a couple of things that I wanted to discuss before we jump into today's question. You guys always know too that I always have what's on my mind this week or what I'm thinking by just listening to other people and all of that stuff. I want to give you guys a little bit of some of those thoughts here before we kick off today's first question. The other thing is the time that you're listening to this I would have just gotten back from Seller's Summit where I'm going to be in Fort Lauderdale. I'm saying this like past tense now because well, I'm going to be there. Let's see, it's the 18th through the 21st I think it is.
[00:02:01] Scott: I am going to be arriving there, we are going have TAS meet up so I'm sure we'll have some updates there for you guys too in the next few episodes. I'll be giving you guys a full update of that Seller's Summit, what I learned from it, what I took away, so look forward to hearing about that on upcoming episode. It's going to be a blast I know. As you're listening to this it's already going to be in the past but I just know it's going to be amazing. So getting excited about that. The last thing is we are going to have a TAS meet up in North Carolina and that's going to be on June 23rd. This is the first time I've done one in North Carolina, not far from where I live now in South Carolina.
It's just outside of Charlotte. If you want the details on that, the day, the time and also the location, you can head over to theamazingseller.com/NC for North Carolina. So theamazingseller.com/NC and if you wanted to attend that it's totally free. All you have to do is really just let us know that you're coming by going to the event page and then just saying that you're going to be attending. That's it. It's going to be free, we're going to be hanging out at a coffee shop. I think it's going to be a coffee shop as of right now. We pretty much haven’t nailed down but by the time you listen to this it will all be worked out. Definitely go to that link if you're interested or if you're in the area and you wanted to come hang out with us for a cup of coffee or drink or whatever and that would be really, really cool.
The one thing I wanted to talk about before we jump to today’s question is kind of what' on my mind. I've been through a lot of different start and stops and I've also see a lot of other people that start and stop and I see… I mean start and stop anything it doesn’t' have to be just business. Just why do people start something but then they don't continue? I get it. Like life gets in the way. It happens to all of us. I know as far as my fitness, my fitness went off the rails for a little while.
[00:04:01] Scott: I was in great shape about three years ago and then things just started to slip out of routine and out of my commitment to myself and all of that stuff and I got kind of lazy to be honest with you. Maybe I even spent a little too much time thinking about my businesses and stuff. Some of that stuff can start to creep into your daily activities, your daily life and that happened to me. I'm proud to say that right now that I'm totally locked in. I have been now for over three months now and feeling amazing and the diet is in check, I mean the diet… I'm still eating food, I'm still eating good stuff it's just it's better choices.
I'm working out daily and all that stuff. The thing is, now that I have that momentum, now that I have… I'm seeing some of those results, it makes me want to keep pushing and the same thing goes when you are starting a new project or a new business depending on where you are. We have a class called the IK Fast Track and that group has just been amazing because so many people that have gotten started have started to see results. When they are starting to see results they want to go out there and do it more and more. That really, that class is really about how to get started superfast using the retail arbitrage model. If you guys want details on that you can always go to the… Actually it’s the 1kfastrack.com will be the link.
I'll put all the links to this episode too which will be 364. So definitely go check out the show notes. I'll have all the links there. What really made me think about what I want to share here with you it's like there's four parts to it. So many people that were in that class they got started, they started to see a little bit of traction, they made their first dollar and then that motivated them to want to go out and do it again. It's the same thing. If you work out for three weeks, four weeks and you start to see results it's going to make you want to go back in the gym but you to get over that hump. Here is the four things that I want to address here.
[00:06:00] Scott: Number one you have to start. You have to start. But sometimes it's hard to start if you don't commit. That's the second part of this. We're going to start, we're going to commit and then we're going to commit to doing what? You guys probably know what I'm going to say, it has two words in it, take action. We have to start something, we have to commit to something and then we have to take action on that thing. Then the other critical thing is we have to adjust along the way. We might do something that might not work as we planned or something changes, we didn't have something on our schedule that would have allowed us to do something or maybe it’s something that you did and you got a certain reaction, or maybe you launched a product and it didn’t' do exactly what you wanted it to do.
Well guess what, you got to adjust. I just did an episode, I believe it was the last episode where I went through a coaching call that I did with one of my students. It was all about just asking these questions that if you don’t zoom out of your situation, you might not be able to seize. You really have to kind of see yourself or whatever you're doing at a higher level and then start to dig into the different things that's happening within that project. For that case it was like her product was not selling after she ran out of stock. She ran out of stock and when she went back in stock the sales weren't what they were before.
One of her biggest things that happened that I took away that she didn't realize was that she was raising her price just to try to slow down sales so she didn't run out of stock. Well that's countering as you come back in because now all of a sudden Amazon says, wait a minute here, you just left and when you ran out of stock you had a really low conversion rate. You had a good one but then it went really bad. Are people not liking your products? When she went back in stock, they just said well we're going to put you where you were. Again I figure that out by listening and that's what one thing off the bat.
[00:07:58] Scott: If you guys didn't listen to that episode definitely go back and listen to that episode because it just shows how you can go in and start asking yourself these questions so you can start to understand maybe where there is an issue and then you can work on that one issue. Again so start, commit, take action and adjust along the way. You might even want to write that one down. That might be a writer-downer. You guys have been hearing me say that quite a bit. Writer-downers. You might want to do that. I think it's important. Hopefully you guys do that and if this has been helpful guys shoot me an email if you want. I want to know if this stuff kind of maybe is something that you need and it's something that I like talking about a lot it's because if we don't actually figure out the mental side of things it's like anything.
80% of your diet is the results, the gym is just a very small part of it. It really has to do with the diet and the nutrition. The same thing goes into your product and your selection and all that stuff. If your product is not fixed properly or your market and you go to launch, it doesn’t matter what you're going to launch. It's not going to work or it's not going to work as well. Just remember that the mental side of things of this game in life not just business is huge and that's why I'm a big, big advocate of just trying to figure that out and trying to get life balance and try to figure out a way to get us to get over those humps.
Anyway, let me know if this resonates with you guys. Let's go ahead and let's dig into today's first question and I'll give you my answer. What do you say, let’s do this, let's rock and roll. Let’s go.
[00:09:38] Brian: Hi Scott. It's Brian from British Columbia Canada here. Quick question here about choosing a product before you start selling on Amazon.com. I have two products in mind. One of them, the leading sellers on Amazon.com will say ‘sold by so and so and fulfilled by Amazon’. Then another product I'm looking at the lead sellers are Amazon.com. It says ‘ships and sold by Amazon.com’. So if I'm selling a product and the lead sellers on Amazon are Amazon.com am I going to have a harder time competing rather than if I go with another product with a lead seller as just a company fulfilled by Amazon. Just wondering this before I jump into the FBA world. If you can give me answer it would be great. Thanks.
[00:10:38] Scott: Hi Brian. Thank you so much for the question and yes I have been asked this question quite a few times. I have got an answer for you. For anyone that's just tuning or maybe just getting into this Amazon world what we're talking about is Amazon actually being the one that's selling that product. If you look at exactly where Brian was saying he was looking, where the item is sold by, if we see fulfilled by Amazon that just means that they are fulfilling it for that brand. But there is a lot of products that are sold by Amazon. Meaning that Amazon now manufactures that product or has it manufactured or bought someone's brand.
There's been people that I know that have been reached out and contacted by Amazon and said hey, I would love to buy your product and they settle out for a lump sum of some kind or some type of agreement and then they now are the ones that are selling that product. But, let's not talk about that so much. What I want you guys to understand is when we’re looking at generally the top ten, let's just use the top ten of a keyword search, and you come to that page and you see that there's 16 results, generally 16 results depending on your browser, depending on maybe you're looking at on a phone it's going to be different.
Let's just say that the top ten listings and let’s just say that there's two of those that are selling by Amazon or that are sold by Amazon or that are sold by Amazon, not even selling by Amazon. FBA is fulfilled by Amazon. You would think, well is that the same thing? No, it's not. What we're looking at is Amazon is actually the one that is the manufacturer in a sense where they are selling that product, they are actually making money from that product and then from there we are looking at FBA sellers and then we are also looking at FBM sellers. FBA is fulfilled by Amazon that means that I ship my product to them as XYZ brand and that is the brand and then it is fulfilled by Amazon, FBA.
[00:12:43] Scott: Then the other one is FBM, fulfilled by merchant. I don't send my inventory in, I have it here and then if someone buys it I ship it to them. That's how that works. Now Amazon selling the product you would think well, I can't really compete with Amazon.” I think you can. They don't really do a great job of marketing their product with everything that goes into a listing or even pay-per-click or any of that stuff. Not that I have seen. Here's what I always tell people. I want to look at the top ten listings that are selling that garlic press. Let's just say that Amazon is two of those. Let's that they are the top two.
Let's say that they are one and two. I would just get those out of my way for second. I would say, all right now let's look at depth and demand because that's what we always talk about. We want to know that there is enough depth and demand for sales lowered down in that ranking. If they are someone selling in the five spot is there still enough demand there even though Amazon is selling it and we would think, “Well I don't want to compete with Amazon because they are going to crash me,” which isn't true. But let's just say that you did that. I would rule out those top two and then I would just go ahead and take the eight below those, or the eight that are left and then I would use those as my depth and demand gauge.
So, again an example would be if everyone else is selling 300 or more then I'm okay. Now if Amazon is selling a thousand then their second listing they are selling a thousand and then the next FBA is selling 800 and then the next one is selling 600, the next one is selling another 500, the next one is selling 400 and they are still 300, that means there's still depth there for me. Even if I don't getting the top spots, it's okay. Now, the only time I would think differently here is if Amazon was that entire page which I don't think I've ever seen.
[00:14:43] Scott: If that was the case I might say to myself, “I don't want get into that right now, let me see what else is out there.” I would not let Amazon scare you as far as like should you sell against them because I've seen listings including my own that have actually outranked them. I don't see that as being a huge deal. But, I always do this to be on the safe side. I just take those two out of my calculations. I say, well yes that shows me that there is more demand than I even need really but I'm looking at again ten listing or eight in this case that are 300 sales each, at least and collectively they are selling 3000 units a month.
That gives me my ten units a day. That's how I would break it down Brian or anyone else listening. That's how I would do it. I always look at depth and demand. That's what I need to look at. Again in order to look at that stuff you need to understand how to do depth and demand searches and do a little bit of that background check. I did that in episode in 189, all the way back to 189, can't believe it's been that long. I'm probably going to do an updated one for that showing the depth and demand but it's pretty much the same I just want to go and do it again live and then record it and then share that.
But it's pretty much the same thing. I'm going to go out there and just validate that those numbers that are being reported through Amazon and through a tool like Jungle Scout. I’m going to make sure that they are good, that it's good information and it's not being skewed because someone just did a major giveaway of some kind. I also want to look at trends. I want to look at that stuff. So that's the other thing that I do with depth and demand. To answer your question simply, no I don't really worry if Amazon is selling as long as they are not dominating that page. I feel that I can still find a spot there that I can still get my ten sales per day. That's it. That's what I do. Hopefully that helped you and anyone else in this situation or thinking this. Let's go ahead and listen to another question and I'll give you my answer.
[00:16:49] Mike: Hi Scott. This is mike. I am new to your podcast, absolutely loving it. I've been researching FBA and looking into, looks like something that I think would be perfect for me and I'm really excited to get it. I'm kind of doing all of my homework and your podcast has been a Godsend. Thank you so much for it. I have a quick question and if it's already been answered then maybe you can direct me to which of the 300+ podcasts it was on because I’m still… I think I'm on number ten. I am an American citizen with a permanent address in the US in California. I have social security all that.
But I am currently living overseas. I am in the Philippines about six to eight months of the year. What kind of challenges can I expect in terms of paperwork, taxes, legal stuff as far as you know? I know you're not a lawyer or an accountant but just as far as you know. I'm not worried about the logistical stuff because I do have associates based in the States to handle, receiving, testing, repackaging and reshipping the inventory. I am more concerned about the paperwork and the legal tax stuff and what I could expect to encounter. Thank you again so much for this podcast.
Oh, I'm new to your podcast and so I am still working my way through so if you could potentially email me when this goes live so I can kind of skip to the front to listen to it before going back to whatever first season episode I am still on I would really appreciate it. Thank you again so much. I absolutely appreciate you and your show.
[00:18:44] Scott: Hey Mike, thank you so much for the question and thank you for being a new listener. So glad that you found the podcast, I'm so glad that you are getting value from it. I appreciate that. I am going to say this and you kind of already said it. I'm not a legal advisor, I'm not an accountant, I'm not an attorney, I'm not a doctor but I'm more than happy to just talk about this. If we were sitting at that coffee table having a nice cup of coffee. This is pretty much what I would say. Number one you are living or you still have a residence in the States from what I gather.
I don't' know all the legal stuff as far as like how long do you have to stay in a certain country in order to be declared a citizen and all of that stuff. I don't think it's that big of a deal to be honest with you. I wouldn't think so. I guess my first step would be I would probably want to reach out to an attorney and I would want to ask them, “Okay, my residence is here, I'm over here, what do I have to do?” Now, you said logistically you are not really concerned with that but I guess my question would be to myself if I was in your situation. It's like do I have to have a bank account set up in another country if I'm doing business there?
I don't believe you do. Now I did have a guest on Jason Magee from World First and he really specializes in helping ecommerce sellers kind of figure this whole thing out. We had a great conversation on episode 360. I would say definitely go check out that episode. Then probably reach out to him. I would ask him, if he doesn't know the answer which he may not, he can direct you. He handles international ecommerce sellers every single day of the week. He'd probably be someone that I would reach out to and ask those questions. I personally think because you do have a residency here in the States it's really just about then how are you going to set up your flow of money.
[00:20:48] Scott: Then also if you are going to have an LLC which you should where is that going to be set up and where are you going to operate the business from. That's really the big question. I didn't really have a straightforward answer here for you because I don't know to be honest with you but I would reach out to Jason for sure, 100% and I would even just go and listen to that episode because that might even help because we do talk about if we're living in the states or if you're living in another country what should you do or what are the things that you should be thinking about when you're going to do this?
Hopefully that's helped you. Again, I want to say thank you for being a listener Mike and yeah keep plowing through the episodes. If you have any questions you know where to find me and you can always go to theamazingseller.com/fb and there is over 40,000 other TASers over there that can help you out as well. All right, let's go ahead and listen to one more question for today, then you guys can get on with your day, I can get on with my day and we can rock and roll. We can crush this thing. What do you say? Let's do it.
[00:21:50] Luke: Hey Scott. Luke here from the UK. I just want to say I love the podcast. I've binged on it for the best part of the year now. I'm pretty much up to date. So grateful for all the content you’ve shared and to be a part of the Facebook group with like-minded people who are so selflessly willing to share and help you over every hurdle. My question is about enhanced brand content. At the moment our put up listing has quite a few product related keywords plugged into it. I'm worried that if I switch over to enhanced brand content which I'm really looking forward to doing and talking about the brand story a lot more, I'm just worried that the keywords about the product are going to disappear.
Even though that would still be in the back pages product listing description. Are they going to still look at that or are they going to see that I’m using less keywords related to the product and essentially bump me down the listings because of that. It's probably just a small worry and you probably answered it somewhere else. Any light you can shed on this would be amazing. Thank you very much and I look forward to your answer. Keep up the good work.
[00:23:06] Scott: Hey Luke from the UK what's up man? Thanks so much for being a listener. Thank you so much for the question. This is a great question and there has been some buzz out there that the enhanced content is not being indexed or maybe it's not being indexed as much as they thought it was going to be or maybe they are doing an update. I don’t’ know. 100% to be honest with you I haven't seen any major drop in ranking from switching over to enhanced content and now I haven't switched over to enhanced content so I can't say for sure but I know others have.
I haven't heard anybody saying that they lost rankings because here's the deal as well. With the enhanced content, and I can't see that forever if it is the case of not being indexed for those. I'm not sure that that will always be the case but you said that your keywords that are in the description are also in the back end, then it technically is still in your listing. The description I've always looked at as secondary. I'm going to plug that stuff in there but I'm not really going after like main keywords in there because we all know that it's weighted the less, at least that's my understanding.
You have your title which is weighted the most then your bullets, then your backend and I think even the backend might be a little bit more than the bullets and then you have your description. I don't necessarily know that I would really worry too much about it but here's the deal. You have to ask yourself this, if you update your description with enhanced content, is that going to help you convert people that land on your page? Let's face it, if you get less people on your page but it converts higher who cares? In this case we don’t want to lose rank of course.
[00:25:02] Scott: But those keywords that are in the description if you're thinking that those are the ones that are going to drive all the rankings for your searches I'm not really sure that I would buy into that. What I would say is make sure all of your important keywords and search terms are in your title or in your bullets or in your back end. The enhanced content area or your description area to me is just elaborating on all of that other stuff. Again if it's in there Amazon is still got… To me it's about being relevant. If I'm going to run sponsored product ads, I want to make sure that my listing is relevant and it aligns with the keywords that I'm going after.
I can't see that Amazon wouldn't be able to see that in their enhanced content. Now if we're talking about you're using an image and you're like, well I used an image and that there was explaining something so yes, you’re not going to have a word there because it's an image. But that's always been the case. Your images don't necessarily help you rank for garlic press if you label it “garlic press.” Now used to be like that in and still maybe in Google if you're looking for images that you load on your blog or your website, that was a trick years ago to put your keyword attached to your image.
Garlicpress.jpeg, something like that. But we are not talking about that. You have to ask yourself that question. You have to say enhanced content is that going to help me convert better and to be honest with you, I'm not sure a lot of people scroll down unless you have a product that needs a lot more like deciding. Is it an impulse buy or is it something that someone is going to be researching and trying to figure out if this is the right fit for them. Usually then they are going to also look at your reviews if they are that into figuring if this is the right thing for them but I get it. The brand and the story and everything is great is I think the enhanced content is a great thing to have.
[00:27:07] Scott: If you can have make that work definitely do it. I'm not sure I'd worry about if I'm going to lose indexing on those keywords because those keywords are pretty much going to be other places so I really wouldn't worry about that. Let's be honest. You probably only have a handful of keywords that you know are like the golden nugget keywords. Those are the ones and those other ones are like long tail and you're still going to get picked up for those in the back end which they give us plenty of room there. The bullets, your title and all those other places.
If you guys are like listening to this and you're like, “What the heck is this enhanced content?” We did a whole episode on that, myself and Chris Shaffer that is. That's episode 294. I would definitely recommend listening to that because we talk all about it. That's when they started to roll that out and we started talking about the pros and the cons and it's evolved since then. But it really gives you kind of like how do you use and how you would want to use it. That's episode 294, theamazingseller.com/294 and you can listen to what we talked about there on enhanced content.
Hopefully this helped you. Hopefully it helped anyone listening to this and again if we hear anything else and we have maybe anything that comes out of Amazon that says, “Yes, we are not indexing that,” then I'll let you know for sure. We’ll have a podcast episode on that or I'll email everyone on our updates list but I wouldn't really worry too much about it but I would ask myself that question. If 100 people land on my page is that going to help me convert more people to a buyer? That's kind of pretty much giving your answer I think as far as if you should use enhanced content. I don’t' think everyone has to use enhanced content by the way. I think it's a nice to have feature but we have talked about this before.
[00:28:59] Scott: A lot of people don’t even get down that far in your listing. They just look at the pictures, the title, the reviews and then they might go to the bullets and then from there the description if they even get that far. Usually by then they might already be over on the checkout page, who knows, hopefully they are.
All right, so guys that’s going to pretty much wrap up this session, one thing that I forgot to mention which I should have mentioned in the beginning here but I got so excited to get on here with you guys and jump into some of those questions is we just wrapped our five phase workshop last night which was awesome by the way. We did it live and what basically is if you haven't attended one of those in the past is where we take you through the entire process of picking a product, sourcing a product, doing a pre-launch, doing a launch and the promoting that product to get more sales and to really get the ball rolling.
We went through the entire process, we did it on a live workshop last night. You can actually listen to and watch the replay right now it's available. If you’re listening to this May 26th or before June 1st. So if you want to check that out head over to theamazingseller.com/workshop and that replay will be there for you. We also give some downloads and some notes that you guys can have so that way to help you go through that entire process. The other announcement I want to make really quickly which I never really do here on the show is some of you know we have a private label classroom, where we actually take people through the entire process and we have a community.
We do coaching, we do hang outs, we do all that stuff inside of a private group. That there is also going to be closing by May 31st. So if you're interested at all in that program, go to the workshop, watch the workshop, go through all that material and from there we'll actually show you exactly what it looks like inside of the class, if you're interested awesome and if you're not, if you're not ready or maybe you don't need it, that's cool too. All right but just go over to the workshop page and you'll see all the details there at theamazingseller.com/workshop.
[00:31:01] Scott: All right guys. That's it. That's going to wrap it up. Remember I'm here for you, I believe in you and I am rooting for you but you have to, you have to… Come on say it with me, say it loud, say it proud, say it with convection, “Take action.” Have an awesome, amazing day and I’ll see you right back here on the next episode.
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