It may sound strange to you to hear that Scott likes to share his exact costs, profits, and other numbers with anyone who listens to this podcast. Isn’t that private information? It is, BUT – Scott’s more interested in helping you know the REALITY of what an Amazon private label business is like. You need to hear it all instead of just knowing the high sales numbers you might hear other places. Those can be misleading because they don’t include costs, fees, and other overhead that goes into being successful.
So today you’re going to hear Scott’s numbers for January 2016, costs, profits, losses, and new projects included. He’s also going to share the numbers for a new brand he’s been working on with a friend to show you what can happen with some brand new efforts on a very low priced product.
But more important than all of that, Scott’s going to walk you through the lessons he’s learned from the numbers and challenges he’s faced up to this point. This is a great thing for you to pay attention to because you’re able to see how an experienced private label seller thinks about the things he’s experiencing and the numbers that his business is producing.
So listen to this episode and get some seasoned insights into the private label business process.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Introduction to this episode, so you know what to expect.
- [0:47] January recap of Scott’s business and future plans.
- [1:22] Update on Scott’s son’s basketball journey (for those who have been following).
- [3:13] January numbers: Higher than December (that’s odd!).
- [6:00] Scott’s current experiments with a new brand partnership (3 years old).
- [11:00] Lesson learned: Understanding the market.
- [11:45] Lesson learned: Low ticket items can still make money but are riskier.
- [12:25] Lesson learned: Once you validate a market, it’s time to build a sales channel.
- [13:52] Future plans: launching products to customers in his current markets and building an email list using Facebook ads.
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