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…weekly we're jumping on a call together and we're doing this on Friday. We are calling this TAS Power Hour. This is where we talk about current things that are either happening in our own businesses or maybe Amazon just rolled out something new or maybe there's something that we're looking at doing ecommerce wise or maybe people have asked me or Dom or Chris a question and we want to really just talk about this stuff and rant a little bit about this stuff and give you our thoughts and another way for us to connect with you live.
We're doing these Facebook Live on Friday's at 1 o'clock PM eastern time. We're also doing them on Periscope so it's basically either or you can do both or you can do one or the other, whichever you're on. To subscribe, this way here you are notified when we go live, just head over to theamazingseller.com/hour and that will bring you to the Facebook Page for TAS but it's going to be the fan page. There’s difference. All you have to do now is just like the page. That's it. If you like the page you're then going to be notified when we go live and Periscope same thing. Just go to Periscope.TV and then just search for Scott Voelker.
You'll find me and then every time I go live you'll be notified. It's that simple. Really, we're doing this as a little bit of a beta. We're going to just see how it goes. We're going to run a little pilot as they do in the TV and the radio world and we're going to see how it goes. Right now we've done two of them and they've been really, really awesome and it’s great to connect with people like yourself. If you want to come hang out with us on Friday afternoons at 1 o'clock PM eastern time, totally free, come on over and hang out with us. I just wanted to share this one with you because there's a ton of great content that we talked about and I wanted to share with you just in case you haven't been able to catch us live.
[00:02:05] Scott: This here we talk about this new hijacker thing which is kind of crazy. You're going to want to pay attention to that. Actually Chris discovered after Dom had said that he was seeing something happen weird and Chris broke it down and discovered that. Brand registry we talk a little bit deeper about that and who it's for and what it really means. Then product research we always talk about that it seems like but that came up because some people are still struggling with that and… It's kind of a struggle for a lot of people. We talk about that, we talk about a lot of random topics but it's just a great way again for you guys to come sit in with us on the TAS Power Hour. It's like we're out there, we're all in the trenches together.
Definitely go check that out, if you haven’t' done so already but definitely listen to this one today because I'm going to play you the last one that we did. Other thing I want to do really quick is remind you if you haven't heard, you might have heard, we're going to be doing a real in person live event. That's right. All of us together in one room but there's only going to be 30 spots for day and 20 spots for day two. I'll explain here in a second. It's going to be in Phoenix Arizona on November 5th and 6th.
Day one is going to be just like our last event. It's called TAS Breakthrough Live. It's where we are going to come together in a room 30 of us and we're going to put 10 businesses, then 10 business owners that is into a hot seat and we're going to give them 30 minutes each and we're all going to collectively break down some of their issues and help them get through those struggles.
Very valuable. The last time we did this people said being in that room was just so valuable and they walked away with so many lessons learned and just meeting the people there is again… That's just next level stuff. Being in the room with like-minded people and the connections are huge. Day two is going to be a little bit different. This came because of the last event that we did. People said they wanted more of the certain topic that we were talking about which is about taking your business from Amazon and moving it to its own platform, its own sales channel, talking about sales funnels and all of that good stuff.
[00:04:06] Scott: That's what we're going to be doing there on that particular day. We're actually going to go through some examples on how to take someone, a customer and get them interested and then bring them through the sales process and how you can control the traffic, how you can build an email list and really how to systemize this stuff as well. That's going to be day two really, really awesome. If you guys have not picked up your ticket already and if there's tickets still available, definitely go check it out at theamazingseller.com/live and you can get all the details there and you can see if there's any tickets available still. If not, if there isn't tickets available to this one, you can still get on the waitlist.
If something happens and someone has to cancel for whatever reason you'll be notified first. Definitely go check out theamazingseller.com/live. It's going to be awesome, it's going to be so much fun I am really excited to be there. Again, Phoenix Arizona is where it's going to be hosted in a beautiful resort. We're going to have fun there as well not just business fun. We're going to have fun hanging out together. Definitely go check that out. All right guys. I think I have talked long enough here. I am excited as you can see and that's how we're on the TAS Power Hour too. It's all about power. I'm going to stop talking now so you can go ahead and listen to this episode of the TAS Power Hour with myself, Chris Shaffer and Dom Sugar. Enjoy the show.
[00:05:26] Chris: We are live.
[00:05:29] Scott: We are live. What's up everyone! Welcome Facebook Live. Hopefully my camera is doesn’t fall off here. I'm trying to do a Periscope at the same time and it's not working that well. Anyway, guys what’s up! We're going to be doing another Facebook Live here today for the next hour. I've got my good friend, Chris Shaffer, Dom Sugar here with us and we're going to be talking about some topics that are on our mind but also what people are talking about, what people are sticking on as far as points. Just want to welcome you guys. What's up Dom Sugar, the Candy Man. What's up man?
[00:06:03] Dom: Not much. Let's tap it up, four fingers. Just like [inaudible 00:06:07].
[00:06:10] Scott: That’s right. Tap it up, tap it up. All right. I think we're good. Yep, yep, yep everybody is giving me thumbs up. Yes, yes, yes. Awesome, tap it up, let us know you're there. Facebook Live you guys also know that while we're on here, go ahead and start chatting up in the comments. If you guys have any questions for us let us know. It's going to be us just basically hanging out together as you guys can hang out with us. We're going to be talking about this Amazon stuff. Let's kick this thing off. Where do you want us to start Chris? You want to talk about some…? We’ve got a lot to talk about. Dom's already dropping some bombs on us here. This whole week everybody is still up in arms about this whole brand registry thing. What's your take on it Dom what's your thoughts on what's happening?
[00:06:51] Dom: I don't know where to start. It's been a crazy week. Usually I'm helping other guys figure this stuff out but it's just crazy week with brand registry and stuff. We’ve got our first major, well not major, but we got everyone's concerned about hijacks. I was talking to Chris about that. Now apparently you get hijacked by Amazon.
[00:07:17] Scott: What do you mean by that? Let's talk about that. How are you going to get hijacked by Amazon? What's happening here? Tell me what happened?
[00:07:26] Dom: Basically we went to three of our ASINs and we went under and obviously you can tell if you have a new seller or anything it will say two new or three new. We went underneath and usually a regular hijacker and we noticed Amazon, so we pushed through Amazon and we thought, “Okay, hold on, I know usually they can sell under you, if they can send back to the warehouse,” no problem. They want to sell the used product returned, and we saw new and we’re like, “What's going on? Doesn't make any sense. How does Amazon have a product? I never sold those to them?”
Okay, maybe there were some returns. They bought, maybe we lost a bunch of it and they paid us out and they said we found them now and we're going to sell. We checked all our reconciliation, our inventory for that. Those ASINs, nothing. We never lost anything so we just started calling Amazon and they're like, “Yeah, looks like your listing has been taken over by Amazon. Email Brand Registry and copyright infringement at Amazon.” I said, “You want me to get hold of Amazon to let them know that their own retail side of it is taking over.” They’re giving corporate head office number, who talk to. I’m like okay, well you know what, I might just let it go for a little bit, I'm not going to talk to Jeff Bezos over this right now. That’s what happened. I was talking before we started, Chris has a whole idea of what's happening and on top of that because they were listing on out, they changed some of our listings. Our listings had 28 bullet points yesterday.
[00:08:54] Scott: Wait a minute. 28 bullet points that you didn't put in?
[00:08:57] Dom: No, they were there but they took all our 5 bullet points and broke them down into like keywords and there was like 25 or 26 so the customer service looked at it, said, “Okay, we're going to have to… I can't do it, the catalog. This is Amazon Retail catalog overwrite.” Somebody in the retail sector overtook the listing put their Amazon listing and then they’re the only ones that can change back is them. Then now Chris is going to explain to us what’s going on so everyone knows… I think this is going to be a new form of hijacking now because of the brand registry changes. We'll talk about brand registry, like we talked before when I talked to them about what happened.
[00:09:34] Scott: Go ahead Chris. What's your thoughts? What do you think happened here?
[00:09:39] Chris: First there's a couple of different places from a couple of different people. Dom you're not the first person that I heard this from. The thing that's happening in my opinion is people are using vendor express to hijack and all.
As opposed to what was happening before where there was listing through seller central. I seen a couple of different people Scott in the class that we teach that were telling about this week as well exactly what happened. They can list a similar looking product using vendor express now that Amazon has started cracking down on the brand registry stuff they wasted no time in finding a work around for it. They are now just saying, “Hey, this is how I'm going to do it from now on.” They go on vendor express, Amazon doesn’t really question it, they buy the product from them and that looks like it's being shipped from Sold by Amazon and I had a conversation last night during the hangout with a seller from China who said almost everyone in China is using Vendor Express now rather than seller central and that' exactly what they are doing.
[00:10:32] Scott: So what’s that mean? What's it mean for us and how is this going to get corrected or can it be corrected?
[00:10:39] Chris: To me that means brand registry again is going to be key. Having that extra level of protection is key for you. If you see it keep an eye on your listing, make sure your sales don’t drop just like any other hijacker. It's really no different. The process is slightly different because like Amazon is selling it so you have to let the catalog team know and Dom it sounds like you have to let the retail catalog team which is a slightly different team know. That's a fun little new step there. Other than that, not a whole lot is going to be different.
[00:11:08] Dom: Well I’ll talk to that Scott. Brand registry, everyone rushed up to get their brand registered because of what happened last week. I said, “I've been emailing brand registry, I keep getting my emails keep bouncing back. I'm sure people they already found that out.” Guess what? Brand registry there have been, what I've been told by two CSRs that they're changing it. They found that email for now and they're remodeling how they're going to do their brand registry.
[00:11:37] Scott: What do you mean by remodel? What are you seeing that there could be other steps that have to be made? The recent thing I heard is that you've got to pay $1,500 in order to be accepted to even be looked at to sell on a certain brand.
[00:11:52] Chris: That's something Scott that's actually being talked about in the Facebook Live Chat right now and Dee came on and said, “I think my account's been banned,” and it turns out that she was doing retail arbitraging. She says, “Now I need to pay $1500 to register each and every brand or do I have to go white label?” What's the deal with that Dom? Can you cover that really quick?
[00:12:10] Dom: Well, we're getting into two different sectors here again. Again [inaudible 00:12:13] versus the brand registry. For brand registry what I was told they're overhauling it because what’s happening… because obviously as soon as we start talking about it and Facebook has lots of power in it… We're talking about it so people are calling in every ten seconds. They probably just said, “We're overwhelmed now, what's happening? We need to change some stuff. We need to make this hard so they probably just scrapped their email and nobody could respond to it.” That has to do with that. As far as what you're talking about is again that more of an RA thing, that's the brand they want you, you can sell their stuff but you have to pay a fee.
Even if you pay that fee, you still may have to be an authorized dealer to sell that stuff. It's not guaranteed. You have to have manifests, what people understand. Purchase orders. You can't have retail receipts. You can't go to Walmart Dick’s Sports and buy Nike Shoes and say to me, “I bought these Nike Shoes for $30 I want sell for $199.” Sorry, you're not an authorized distributor, Nike doesn't want you selling on the listing. That's going to happen to that. If you want to pay $1,500 again, we're willing to do that. That's cool. I'll pay the $1,500 so I can sell Nike all day long. I don't care because we have a lot.
What's happening with that is they don't want the influx of people so that person's account go closed to say, “Look it, prove to us that you're an authorized dealer, you have receipts, the manifests to resell it.” It has nothing to do really with brand registry again. That's solely influx a matter of fact we got hit on a couple, again I talked that we’ve never had issues until last week when we had a few some, new era NFL products. They’re really hitting hard on NFL products so when you start doing that. For us what happens is you have to make sure that the UPC code that you're scanning is actually New Era’s UPC code or Nike’s UPC code or… Do you know what I'm saying? What some people don't probably don't know is that every number has allocated to a company that you purchase.
[00:14:11] Dom: If you go to Speedy Barcodes or Buyer G1, it’s just going to say your company name on it. So they are going to know if you use that UPC and try to sell Nike Shoes with it. They're going to say, “Okay that's not a Nike UPC code. You're not going to be allowed to sell it.” If you take a T-shirt you scan it on UPC code from Nike it will allow you to sell it because that's an official. There's a material thing that's happening.
[00:14:34] Scott: Okay. We're talking about…
[00:14:35] Dom: Does it make any sense?
[00:14:35] Scott: Yeah. It does but it's very confusing. I think that people listening could be very confused. Here's the deal. Let me ask you this. We're talking mainly about retail arb people, online arb people that want to sell stuff that they are finding on clearance. If they go and they find Nike stuff discounted at 30% off, they might have a tough time selling that unless they go ahead and pay 1,500 bucks. Some people might not want to go through all that and they might want to say, “You know what, I'm not just going to go down that route. I'm going to do something else.” What you're saying though is that's primarily for people that want to sell name brand, big brand stuff like Nike, Under Armour and the bigger brands. Correct?
[00:15:12] Dom: That's correct but there's also two tier. What happens a lot of guys like myself that buy retail arb or do liquid close out stuff, a lot of the barcodes and stuff are ripped off by the retailer because they don’t want returns. So until we go and buy speedy barcodes or we go to eBay and we buy a thousand UPC codes for a $1.50 and we use those UPC codes to list. They're cracking down on that too. The two tier… do you understand what I’m saying? That's what's happening. There's two things. One, it might not even be Nike. You can just scan in a Reebok or it could be a Nickelodeon and you're not using the Nickelodeon bar code and they’re saying, “No, sorry, this is not the barcode that's associated to.”
That's what happened to us with the NFL stuff. We got defaced, we call it, from the retailer. We didn't have a barcode so we used our own barcode and they said, “No. This barcode doesn't match the New Era code.” And then there’s the ones where you go to do and you have to pay the thing. Again, most people even if they want to do it, probably won't have an authorized account.
[00:16:11] Scott: Dom, let me ask you this then. Are you saying then people should probably not really look into retail arbing the major, main brands Nike, Under Armour, all those name brands? Is that what you're saying?
[00:16:23] Dom: I am saying that now with the changes, you have to really do your due diligence before you buy anything. What I said last week is if you want to buy two of it no problem, just throw it on eBay but if you find it with 3, 4, 5, 600 of it for a dollar, you don’t want to be stuck on Amazon if you go to scan them. One, the UPC’s going to go, and two you're going to scan it but it's a tier because you do your due diligence. For Nike it's not everything though. It's mostly their shoes, their footwear. They don't want people selling. The apparel, the hats there's no issues with it.
[00:16:55] Scott: It's more or less the footwear. Let’s face it. My son's a sneaker head. Those things you can find $2,000 shoes and they're just insane on that whole business model. It's brilliant on their part but they're coming out with a new shoe, a new drop shoe this week and then after that it's done. It’s dead stock. Now all of a sudden everybody’s that got it they're going to make a ton of money. This whole business and taking sneakers and flipping them like houses.
[00:17:22] Chris: This is a sneaker business. They don't want you selling Air Force 1’s.
[00:17:28] Scott: Why don't you go ahead and tell those people that you're on a Facebook Live right now when you’ll get back to them.
[00:17:32] Chris: That's how you know you're Live.
[00:17:34] Dom: Deal right there. Deal.
[00:17:37] Chris: Now he’s losing money because he's not answering his phone.
[00:17:38] Scott: That was a thousand dollar deal for a Nike Shoe right there, Dom.
[00:17:47] Chris: It was all his dead stock from his drop. Let's talk a little bit about, Scott you an email this week about something that you and I have ranted about a bit as it relates to product research and something that people mess up. Do you want to jump in and share that really quick?
[00:17:58] Scott: Maybe you can give me a little bit more of a hint but…
[00:18:02] Chris: We were talking about right before we got on.
[00:18:02] Scott: No, no. There's two things that I want to talk about. One is yes, product selection and you and I did a workshop last night live with about 300 and some people on. One of the questions that we asked everyone was on there was like, “What's holding you back?” You might hear Dom talk about this stuff and you're like, “Damn, I don't want to go through this stuff.” There's a lot of stuff he's talking about. The question is, well that's retail arb that we're talking about. Private labeling can get hijacked now by using vendor express, all that stuff. There's all those obstacles that can happen but here's the deal.
One of the biggest things that people said that was holding them back was picking the wrong product. I want to address that. I want to really talk about that for a little bit, maybe a few minutes, then we can kind of dig into it and maybe help the people out with that. To me there is no perfect science. It's going to take your research, it's going to take risk and it's going to take really your gut in feeling that you have done the research properly. You found another other angle to sell the product. I really do want to dive into that because a lot of people say, “I would love to get into this but I'm just afraid that I'm going to pick a loser of a product.” That's what I want to really have a round table here about and talk you guys about. Chris, why don't you start? Why don't you tell them your thoughts on that?
[00:19:26] Chris: I'm afraid I'm going to pick a loser every time. That's a fear that doesn't really go away and it's something that we have to understand. Scott you and I talked about this a little bit last night. Guys, I just saw a comment that say my mic is hot. If I'm blowing you out though let me know. I'm usually have the opposite complaint. We talked about this a little bit last night. It's not something that you ever really get over but it's something that you have to go okay, you go back and check. Maybe you look at the numbers again and then you move forward.
You let the numbers make the decision for you. Some of this business is gut, but 95, 99% of it is going to be the numbers. You look at the numbers and the sales are there, the depth is there, the product looks good. The cost is right. There's not really much that can go wrong. You're going to come out at least somewhere around break even. Scott you had a product that you missed depth in the market on, and you’re actually going to end up making a little bit of money on it.
[00:20:17] Scott: Yeah. I'm actually going to run a lightning deal on it in about two weeks. I finally got that thing approved, which anybody that's listening that doesn't know about that new feature that they've added which is pretty cool. I believe it's in the advertisement tab. It's going to drop down, it says, “Lightning deals.” Then it shows you all your products that qualify for a lightning deal. Then you can set that thing up. I've been kind of waiting for this thing. I've been selling a few here and there on that product so it isn't a complete failure. I’ve made money with it just not as much as I would have liked but now I'm going to be able to really blow them out because it's allowing me…
I think I’ve only got about 200 left and I think I put all 200 up that I'm going to run it. If I sell 150 I'm great. If I just break even I'm happy with that too. I'm actually going to probably make a little bit of money because I priced that, I think it was selling for like $17.97 and I put it down to like $12.97. Now I'm still going to make money. I’m probably going to make two bucks a piece. Again, like you said Chris here's the deal. Here's what I learned through this whole thing. It's like if you're only coming into this game, this Amazon game as one channel, your one vision is just to look at that product and only that product and not thinking about other ways that you can sell that if something happens. Dom's a big believer in external channels. He still sells a lot of stuff on eBay and NewEgg. Do you sell on NewEgg too, Dom?
[00:21:42] Dom: Like 12 or 13.
[00:21:43] Scott: 12 or 13 different ones. You're a believer in that yes, Amazon got a lot of traffic, they got majority but there are still a lot of channels that you're selling a few here and there that adds up collectively for the day. It's not just that one channel and then you're also not just relying on that one thing. I think everyone is just… That's why I'm trying to be very, very clear with everyone that listen, don’t just think to yourself like you're going to sell it on Amazon forever. You're going to sell on there, they have traffic, they have the website and they have the merchant accounts, all that stuff is all set up. The refunds, the FBA, all that stuff but there's other things you can do and as long as you pick the right market, not just the product I think that… I don't know how you can lose in that. The only way that I think you can lose if you buy something right now, Dom you were talking about this before. We can talk about this. People that are going after school supplies right now. They are selling school supplies, what's going to happen? Give me your prediction.
[00:22:41] Dom: This is it. Back to school week for school supplies, the guys are private labeling their own clothing brand, maybe shoes, backpacks will be a big one, any retail arb backpacks. Anything back to school for sure, locks for the lockers, pencils, you name it.
[00:22:56] Scott: But what happens now, if I come in, I'm brand new. I'm brand new at this and I come in. I look at Jungle scout. I run the numbers and I go, “Holy crap. They're selling like 1,000 of these things a month.” I'm going to go ahead and I'm going to source this backpack or this pencil holder or whatever. What's going to happen in a month from now?
[00:23:20] Dom: You’re not going to be selling anything is what's going to happen because the numbers are not… It's the same thing at Christmas time. Those two months, first month of September and January to Chinese New Year. Those are the months that you don't take the numbers 100% seriously off any of the software, whether it's Jungle Scout or the other ones that are available. You take it with a grain of salt right?
[00:23:41] Scott: Now, does that mean that you don't sell a product in that space because of that or do you just plan for it?
[00:23:47] Dom: No, no. I have all our sourcing done for the year done by the end of fourth quarter. We don't try to source any, we’ll look for stuff but January to Chinese New Year, I don't look at the Jungle Scout numbers because they're all inflated from Christmas. You usually have to go through January then we can start to… “Oh 80 pieces, that's great.” I made my mistake like that when we did it years ago three or four years ago manually doing that. “Oh man they sell lot’s, the BSRs is 800.”
[00:24:18] Scott: Wait a minute. You made a mistake?
[00:24:21] Dom: Back to School would be the same thing. Any time there's that type of holiday or that…
[00:24:33] Scott: Halloween coming up.
[00:24:35] Dom: Yeah, Halloween, big things, any of that type of stuff, a long weekend if you have themed products or…
[00:24:43] Scott: What do you say to the person that's starting right today, right this second?
[00:24:47] Dom: The chances of someone doing back to school related product is probably going to be very minute anyway. I don't think it has to worry. The issue you got to worry about now if you start now is you got to hustle because fourth quarter is almost here. Your stuff should be in pretty well now. You have basically another month to get it in, let alone sourcing and finding. That's my word for the wind or the cautions. Try to get in before… I think they say before November 15th and that's with small…
[00:25:15] Scott: I was going to say we talked about that. If we're doing full trailers or palettes and stuff it's going to take longer. If you do stuff that comes in boxes of 100/120 whatever, smaller. You're probably going to be able to get it in by November 15th, not guaranteed but I could have done it done earlier.
[00:25:31] Chris: I'd say two weeks before that actually. I'd say October 31st. If you can get it in by Halloween you’re golden, that way you can get around the short term storage fee or long term storage fees too.
[00:25:42] Dom: From experience, like we said something around 15th we send him thousands of pieces about 4 or 5 SKUs and it didn't get to Amazon till January 12th. We totally missed fourth quarter because it's right. Then this long storage fees, we ended up paying thousands of dollars long storage fees. That's another one. Pay attention to that guys. There's a tab that says inventory and it will give you exactly, it will tell you what you’re going to be paying for in six months from now. You have to pay attention to that.
[00:26:07] Scott: Where is that tab Dom?
[00:26:09] Dom: It's right at the top, I believe in your back end. Inventory, top left, says inventory, FBA charges or something like that.
[00:26:18] Scott: Hey, I just had question here on Periscope, real quick. I want to jump in and then you can tell us where that tab is but I don't want to forget this. Someone just asked this question. I get this question asked as well. Have you ever tried to sell or would you try to sell a product that isn't currently selling on Amazon yet? That's silence here. I got a hand and I got Dom thinking about what he wants to say.
[00:26:39] Chris: I didn’t know you're asking me or him. I have it's not nearly as fun. That's how I got started on Amazon. If you guys want to hear that whole story, I’m not going to go into it now. I believe that's episode 23 of The Amazing Seller Podcast. That’s theamazingseller.com/23 for those of you who don't know where to find that information. We just kind of lucked into Amazon. We listed a product that we were selling on another website that we had built some ecommerce channels for. We went “Oh, we sold one, oh we sold another one, maybe there's something to this?” Then we started actually trying to figure it out. I will tell you the velocity on something like that and the ability to know if it will work on Amazon is much lower.
If you already have the product, put it up and see but I wouldn’t go build something brand new to put on Amazon. You got to find what works and iterate off of that. That's not to say go buy the same exact garlic press that everyone is selling. Do some product research, do some improvements to it but as long it's the same general product, it serves the same function, you're not trying to introduce a diamond shaped pot lid for round pots, whatever that is or a garlic press that actually presses it into a water bottle or something weird or something that's completely off the wall that isn't related to what's already out there. Just improve on what's already there and you're going to get market share.
Then once you have that customer listing, once you've started to build sales there you want to go out on a limb and test a variation where you press the garlic into a water bottle. I don't know why you would want to do that. Garlic water doesn't sound appealing to me but that's just me. You can go do that because you already have some traction, you have sales coming in so you can finance some of those other things. Does that make sense?
[00:28:23] Scott: Dom, what do you think Dom?
[00:28:24] Dom: For us personally we would do it. We've re-bundled stuff together, that's not market, but I don't think we’ve ever taken anything that's not listed. We do have stuff that people have listed years ago. It's been dormant, there's no competition of it. We end up gettin 2,000/1,500 pieces, we just throw it in as a private label SKU. It's basically stuff that I get quite a lot. Liquidation wholesale, non name brand stuff, we just throw it up. It could be anything. It could be, who knows, a brush for makeup or whatever and I’ll just throw it in. I do know a lot of people actually, I work with somebody right now that I help mentor and they are doing hot sauces.
Their own brand, they've had for a long time same with you, they have a huge line of restaurant and they came to me. They’re like if you happen to go to a restaurant just like you did, talked what do you do? Blah, blah, blah. Really, I got my hot sauce I like to. Let’s talk it how I can help you with that. No problem. There’s a lot of hot sauces, but not like hers. She's only doing 5 or 6 bottles a day, but she's happy. She’s making good margins on it. Now she can start adding everything else.
[00:29:29] Chris: That's an example of a product where it's not something brand new. You can buy [inaudible 00:29:34] on Amazon. There's a little bit off a depth in the market play to look at there. We're not completely reinventing the wheel. We're not putting up a car when everybody else is selling horsing buggies. It's a similar thing, it’s just a different pepper, a different taste but you can still validate that that works.
[00:29:53] Dom: But I mean a brand new raw product. Yeah, you don't have to worry, you know, a shirt with three arms. If you want to take the risk but most people they have an invention or they’re already selling the brand. They’re already selling that car part that nobody has or it’s something that’s not in the market. You could do that of course but…
[00:30:13] Scott: Dom, are you going to help her in that business? Are you going to help them build out a nice funnel that they can lead people through and then do an upsell and then have them get on a membership where they can actually have it sent every 30 days because there’s going to be more hot sauce?
[00:30:26] Dom: I’m not sure if they want to go, they were…
[00:30:31] Scott: Well we’ll just take part of the market. Any sales through the funnel we’lll get a percentage, what will they care. They’re going to still make money.
[00:30:40] Dom: No, I just help them launch it get it across the border, that type of stuff.
[00:30:23] Scott: I got ya.
[00:30:24] Chris: So you’re smuggling hot source.
[00:30:25] Scott: Everyone, Dom is smuggling hot sauce. It’s really, really hot.
[00:30:29] Dom: That’s definitely an option for them. They have a couple of restaurants so it’s not their main thing. I think it was more for notoriety. It’s kind of cool to see your product on a big marketplace like Amazon they can say to their friends, “Oh our stuff is on Amazon now.” “Our records are in Sam Goodies.” It’s kind of cool. I think that’s what happened to me. Everyday the same thing even my staff and my wife are always talking about it. “I can’t believe people actually buy our stuff,” it’s in someone’s kitchen, on someone’s boat, on someone’s cottage.
[00:30:58] Chris: It’s a cottage initiative.
[00:30:58] Scott: After last week’s call, I was just trying to play around with some light guys. It’s really dark here today. It’s raining and this is the first rain that we’ve had. I was trying to get some light but the light looks terrible. Dom actually sent me over a picture because we were talking last week about him saying that in order to get attention kind of like reviews on your product, if you see a listing has no reviews you might not trust it as much and you might not think it’s as good than if you see with 100 reviews maybe four and a half, five stars. Dom was talking about a restaurant, was it near your cottage that you were?
[00:32:05] Dom: Near my cottage yes.
[00:32:06] Scott: Basically where they opened up this business but then they had all of their friends and family come gather for a few weeks or a month or whatever and people would think that it was really busy and then they would start to come in. Then finally the family was able to go home and then now, is that the woman who had to build a bridge over the road because people were cross like a highway?
[00:32:29] Dom: That’s right. This is what happened. They were stuck in the middle of nowhere and a highway and they just bought it and they were like, “Okay what are we doing? We’ll cook some good burgers,” and then what happened it actually started getting busy so this was a year, two years later. People were parking on the other side and running across the highway, a four lane highway to get to this restaurant. The municipality, the city, the government said you can’t do that it’s dangerous. They go “Okay we’re going to buy a bridge.”
They put a medium all the way down the highway and they bought a bridge and built a bridge and built a parking lot on the other side. People parked on the other side take the bridge across and walked over to the restaurant. Now there’s 200, 300 deep every weekend, it’s insane.
[00:33:08] Scott: I can send that picture over, it was crazy.
[00:33:11] Chris: Must be a hell of a hamburger.
[00:33:13] Dom: They bought other corporate companies too like big name, multi-million dollar corporate companies to set up close to them, tents and give out their stuff…
[00:33:22] Scott: So the bottom line is when you see people at a restaurant or you see people that have bought on Amazon with reviews it’s going to help you convert to a sale because people are going to want to gravitate towards other people who’ve already been there. They’ve already tried it, they’ve already tested it. I think that’s huge. I’ve done it. I go to a restaurant and I see two cars and it’s like right now it’s the busiest time and there’s no one here that’s a problem. We’re going to put it in reverse and we’re out of here.
I think that that does play a role. Let’s move into, we talked a little bit about picking a product, on Periscope they asked if we would have a product that we were like, “That’s a really good idea.” I’m going to make this and I think people are going to love it. We wouldn’t necessarily do that. We would want to put a spin off with something else. Is there any questions on Facebook Live that you wanted to address? Anybody on Periscope if you have any questions post them in there. I’ll try to answer them.
We have hearts flying in like crazy on Periscope by the way guys so that’s awesome. If you guys like this stuff tap it up, share this, swipe the screen, Facebook Live you do that as well. Share this if you want to keep us coming back because we’re going to look at the engagement and we’re going to see if we’re going to keep doing this. We’re going to give this a little beta test here and see or a pilot as they call it on TV or radio show.
Dom did you have any games you wanted to play today? I know you wanted to make this into like a real radio show. Do you have any games that you want to play or any bits that you want to do? We didn’t come prepared.
[00:34:50] Dom: You caught me off guard unless you want to play some chair wars. Chair wars is good.
[00:34:55] Chris: Before we dive into that Scott I want to kind of jump back into the product research setting that Dom was talking about earlier where Dom was saying maybe if you’re looking at products now, maybe don’t want some of the back to school stuff, maybe don’t look at products like Q4. Dom you were talking about how you don’t look at stuff the first part of the year. If you guys don’t have a product yet I would say there is a way Dom where you could look at products around that time and not have that worry about the inflated sales.
[00:35:27] Scott: How’s that?
[00:35:28] Chris: It’s just like taking one additional step and Scott you’ve talked about this on the podcast in the past and that’s to look at Google trends. It’s not going to necessarily validate that the demand is that much different but it is going to give you an idea of whether or not that’s a seasonal product. Right now if you go to Google.com/trends, they moved that URL on me again, you can type in whatever your keyword is. You can go type in backpack and I guarantee you right now that graph just goes way up…
[00:35:56] Scott: It’ll show the past five, six, eight years too. You can see that spike constantly in that area and that’s what we’re talking about really.
[00:36:03] Dom: I think what I meant for us is there’s so much change in the numbers, the BSRs because of the volume. We concentrate on other stuff. We add more variations of something we already have. We work on stuff that we kind of said we’re not interested doing, we know the volumes there let’s just leave it because this is a better product. Then we’ll go back to just. As we become a volume seller then you have more ASINs then you can do that.
For your first product you have to make sure you got what you think is a killer. What’s going to be, you’re going to push through that. As you move through SKUs and ASINs you have the luxury of doing that. Right now we have tons but I don’t have to look for any more products I just keep going back to stuff that we did because we’re do 10 or 15 at a time. Those are good we just leave it. We have other businesses going on, the retail arb and setting more stuff in because we’re depleted in FBA. We’ve so many things going on.
We have that, that’s kind of our time off to say, “Let’s just source this up, let’s get it all ready before Chinese New Year. Let’s not worry about it.” As soon as 15th, 16th January, down 20th we’ll start looking for more products again. But now we’re 100% sure the number have dipped down. What I want to get back to is, you guys were talking about when is the time to give up on an item and a dead product.
I hear that a lot in Facebook groups or same with the people that I work with. We never look at it that way. I always look at it, I don’t know for you guys, I always look at everything as baseball terminology for private label. You got your team behind you, you’re going to have three strikes outs, you’re going to have singles, you’re going to have doubles, you’re going to have home runs, you’re going to have your grand slam.
You’re never going to get lots of home runs or grand slam, you hope if you can get a cycle that’s the best scenario. Even on strikeouts the way we look at it we don’t look at it as, I don’t even look at it as a bad product because most bad products you’re going to end up selling two, three to five a day anyways. If you’re making $5 times five it’s $25 a day. 25 time seven, you take that, 150 x 4 weeks x 300 and… You know what I’m saying? You can still walk out with $10,000 at the end of the year. I’ll take three strikeouts. I’ll take the $30,000 clear.
[00:38:15] Scott: You’re starting to sound like Danny Brewer now.
[00:38:17] Dom: Well that’s Danny Brewer from Pushover Products. I believe, that’s myself that fourth quarter always lets you know if your product’s good. It confirms that your product is good. Right now it might be slow because it’s dead time. But in January if you start selling 10, 15 a day you’re going to wish you didn’t get rid of that product because you only sell one or two now.
Any product I keep it a year and I let Christmas validate my product. After Christmas, January if it’s not selling anymore then we’ll figure out what we want to do with it but I just wanted my tidbit for that.
[00:38:54] Scott: I like that, that’s good.
[00:38:55] Dom: Got to give it a year.
[00:38:59] Chris: You have to wait and that’s where something Google trends comes in really handy and I know I keep yelling about Google trends but…
[00:39:05] Scott: You are yelling actually.
[00:39:08] Chris: It’s just how I roll. I’m excited about Google trends because Christmas may not be the ticket for you if you sell pool floaties but if you source that in September might not be your best bet. But when March, April, May roll around that’s when you’re going to start to see that and you can tell kind of where those dips and spikes are going to be by looking at Google trends. Google is not going to tell you sales on Amazon but they’re going to tell you how much people are actually looking for you or looking for that product.
[00:39:45] Scott: Makes sense.
[00:39:45] Dom: We all have our different kind of ways to look at it that’s why we’re here. That’s the beauty of private label and retail arb. Everyone will kind of do it their way and they can deliver for anybody that’s the same with me. I didn’t learn on my own I had other people show me how to do things here and there. That’s a good idea, that’s a breakthrough exactly.
[00:40:01] Scott: I think it also is a good point to make that generally things are not consistent across the board every single day. Since myself and that’s kind of like a new kind of strategy is really being able to come out with more SKUs, giving more of a range of products that you can sell. If you sell one or two a day but you have 10 of those well there you’re at your 10 a day. Now again, that doesn’t mean that you can have 1000 units created maybe of each one because you’re just starting out and I get that but then that’s where you’re going to want to look at that low hanging fruit.
The product that might only be selling a few hundred a month not going after the ones that are so jam packed and there’s a bunch of them in there. If you can just sell one, two maybe some days you have five, some days you have one, next day you have eight and I think that’s really, again like Dom’s going through. It’s not the home runs, it’s the singles or the little bunts that you have. It’s like you’re getting on base.
[00:41:05] Chris: I’ll take getting hit by a pitch.
[00:41:08] Scott: Hit by a pitch. If you can do that like you said Dom you’re going through and you’re doing the research but you’re also understanding that once you launch your product and if you’re only banking on that one product then yes it can get frustrating because you might have days that you don’t sell any. If you had those other products to help pick you up through those times well then the days that those are down the other ones might be up and vice versa.
That’s what I would say there and I would also say too that not just locking yourself into one channel and looking at those external channels is another option to spread them on. I get people all the time they’re like I’ve got a product, well I had a lady actually ask me this and maybe you guys want to chime in on this. “I’ve got a product, it’s selling really well right now like 20 units a day. Should I take that product and should I launch it on international markets? Should I go that route or should I launch another product that is a companion of that product on the dot com site?” Why don’t we start with you Dom, what do you think of that?
[00:42:12] Dom: It’s easy for me, I mean dot com is where it’s at. You haven’t even touched the surface even not myself, you or Chris. No matter how many ASINs you have or SKUs.
[00:42:20] Chris: Combined we don’t touch the surface.
[00:42:22] Dom: Exactly, you’re right. Absolutely. I’d add more variations, more quantities, I’d add two to three products to go with it. I wouldn’t even think of international. The time that you’re going to put into it. You can set it up really but if you do want to sell internationally through dot com it’s fine but you have to ship your stuff to UK. Is that what you’re talking about right?
[00:42:45] Scott: It’s kind of like a central ship station. If you do that then there’s one location and you’d ship to three or four countries.
[00:42:52] Dom: There’s enough sales on dot com. Like I said, we don’t even send anything to everybody, retail arb we do but we don’t we’re in Canada, I don’t sell one private label product to amazon.ca. I get that question all the time because most of my students start there and they’re like, “We sold one thing this month.” I said, “Yeah, you’re .ca, I told you .com.” “I thought it was .ca we had to start.” I’m like, “No. I said you can efficiently walk into the warehouse and try to sell outside the building and you won’t even be able to sell.” Retail arb is good for .ca but private label because there’s not enough of a market.
[00:43:24] Scott: Chris what’s your thoughts?
[00:43:26] Chris: I’m in the same boat as Dom. I would say launch other product in the US for a couple of reasons and maybe when you get to the place where you have a staple of 10, 15 SKUs, maybe you look at some of those markets. What’s going to happen to those other markets your .co.uk, your .e, they just launched .poland. I don’t know what their domain .pl I guess, .poland that’s a heck of a domain extension.
[00:43:53] Dom: That is rude.
[00:43:55] Chris: But you’re going to get one or two units. Scott it’s not much different from the bump product or getting hit by a pitch product where you’re selling one a day and you’re just kind of dripping along here and there. In the US there’s just more upside in the US than there is overseas in my opinion. If you hit a home run in .co, .uk you’re selling maybe 10 a day. You hit a homerun in the US you’re selling 30, 40, 50 a day.
To me the upside is much bigger in the US and there’s a lot less of a logistical challenge if you’re a US seller. Now that advice would change for people who are already in the UK or people who are already in mainland Europe. Where you have easy access to that it’s not much of a logistics challenge because you can just get DHL ship it direct it to you just like we do it here in the States. I have products sent to me and to my team and then we send to Amazon. You can do that if you live in Europe.
I can’t. I have to work with a third party logistics provider and a whole bunch of other people. It’s not only easier for me to launch another product in the US but there’s also more upsides for me as well.
[00:44:57] Dom: I was going to say if that leads to only 20 piece I would hustle to get the second or third SKU. That’s going to be another 30 to 40 a day.
[00:45:05] Scott: I agree. I just want to give a little shout out. Papa V is on. He says double tap on Periscope. Four finger tap as Papa V was saying.
[00:45:15] Dom: Papa V where’s he been?
[00:45:16] Scott: Papa V actually I want to give a shout out to him. He actually is in Florida and he had some pretty bad weather, yesterday. He was up all last night I guess actually trying to hold the house down. There’s some strong winds and everything and it was pretty scary. Not just there but in the coast and stuff. Anyone else out there that’s listening that experience any of that wishing you guys are safe and all that stuff. I know that could be pretty scary.
We’re getting a lot of rain from it but we’re not getting any of the hurricanes. But Papa V is on double tapping and I think we’re going to call it the four tapper.
[00:45:50] Chris: You were just giving him the periscope slap?
[00:45:53] Scott: That’s all. Chris we have to get you to reach down into that pre-amp and turn that thing down man. You’re yelling at me again. That thing is so powerful. We’ve got to back that thing down. We got to get you a foot away from the mic.
[00:46:05] Dom: That’s the mic of mics right there.
[00:46:07] Scott: I think the camera on my phone is rattling. It’s like a bass like one of those rap concerts.
[00:46:13] Chris: That’s good.
[00:46:14] Scott: Give me a little beat box. I agree. I think my advice was really like go after the low hanging fruit. If you’re in the UK and you started selling on .com and you can source it easily in the UK then do it. Whatever is the least amount of work for you to do, do but I definitely would not want to bank on that one product. I think so many people want to find that one home run and then they get frustrated, discouraged because they’re not hitting the mark or they have to do a ton of promotions in order to compete.
I’m a big fan of once you start having some success try to build off of that success the best way that you can and I think the best way is to launch more products around that market. I think that’s good advice from you guys as well.
[00:47:05] Dom: Not to mention you’re splitting your cash flow. Now you have to invest in 2000 pieces of the same thing because you’ve got to send 1000 there and a 1000 here so there’s a lot of reasons why I would stick definitely to as many ASINs as you can, that’s for sure.
[00:47:21] Scott: We’ve got about 10 more minutes here. We got any questions on Facebook Live we want to address? Anybody has any questions of Facebook live go ahead and put them in the comments by the way. Periscope same thing. I just actually seen a question and it went away. Let’s see. Aaron says, “Don’t forget to send out my t-shirt I won last night.” Don’t worry. We got it. What’s that Chris?
[00:47:43] Chris: I said I sent you his size.
[00:47:45] Scott: I got it. No problem.
[00:47:47] Chris: We do have a bunch coming out.
[00:47:49] Dom: I can send over one of my t-shirts, you’ve been in it, you keep…
[00:47:53] Scott: Which one, the pay-per-click one that’s crooked?
[00:47:56] Chris: Couple of questions on the Facebook site Scott but before we do that let’s do what grinds your gears? What grinds Scott’s gears today? What’s on your mind this week brother?
[00:48:12] Scott: Is this pointing to me this week? Last week we almost forgot about me.
[00:48:14] Chris: That’s why I’m starting with you.
[00:48:16] Scott: I guess what grinds my gears this week is, again kind of going back to, I’m going to sound like a broken record. Really what grinds my gears is number one if I’m looking at people that are trying to get started and I’m hearing all of the issues in like the worry or the ‘what ifs’. I’m going to go with that. ‘What if’ is what grinds my gears. What if this happens? What if that happens? What if this happens?
What if I go take a walk and I get hit by a car and I’m never here for my daughter’s wedding that will be here in a year? I can think like that and I can never leave my house. It’s the same thing in this. It’s like we talked a lot last night Chris about your why. I always go back to that because so many people they want it but they don’t really want it. To me it’s like you’re going to have these challenges. Rather than me sit here and say I’m kind of ticked off with Amazon this week because they did this.
Understand that we’re on that platform. It’s going to happen. I hear people saying, “Amazon they don’t care about us sellers.” They care about sales, that’s what they care about. You might be right. They don’t probably care about you as a person. They care about the sales that you’re going to bring the platform. If you’re going to get into this game and you’re going to be complaining about Amazon don’t even get started because you’re going to complain.
Understand that it will be a rocky road from time to time but also understand this, look beyond just Amazon and look at a market in whole and don’t be so one minded. Amazon is a great place to starts, it has traffic, it has the merchant account setup, it has the website, it has advertising platform built right in, it’s got reporting, it’s got all of that. You can get started very easily, but I guess going back what grinds my gear it’s the ‘what if I do this and I fail?’
What if you don’t do it? What if it’s not this business? Forget about this business. What if you don’t do anything, where are you going to be? Exactly where you are right now. Are you happy right now? If you are cool, if not then you got to do something.
[00:50:29] Chris: To just kind of piggyback on that, what’s the worst thing that could happen Scott? Let’s say you spend $2,000 in source of product, what’s the worst thing that could happen?
[00:50:38] Scott: I think the worst thing really not even saying that I would lose the money because I don’t think I would. I think I would just recoup my $2000 and be done with it. It would just maybe take me a little while. But again, I might hear people saying like I’ve got about $1975 in savings and I’m going to push this all in there and that’s all the money I’ve got and it’s like don’t do that. Don’t do that. I’m telling you right now, build off of that. Maybe start with $500, turn that $500 into $1000 and then start working with someone else’s money. If that’s the last money that you have and you’re going to pay your rent with do not do that please.
Go get a job. Go find a part time job and have that be your money, hustle that way until you get the capital to put into this thing that if you lost the money you’re not going to be stressed out about it as far as, we all don’t want to lose money. How many people go out there and gamble? They lose $1,000.
[00:51:28] Chris: That’s the exact example that I was going to use and my mom’s going to kill me for telling the story. My parents. They don’t do it. She’s probably on Facebook right now. It’s the only time in history she’s been on Facebook just because I’m telling a story about it. She tells this story about the time they went to Las Vegas. My parents are not gamblers. They’re very conservative financially. They don’t really spend money they don’t have. She doesn’t even like taking out a credit card to get free financing on a TV like to get the 18 months no interest.
She and my dad went to Vegas and they decided they were going to put $20 in the slot machine and she won 150 bucks. This was when Vegas was selling in quarters. She counted out her $20 in quarters put it back in her purse and then they played on the house for the rest of the week. That’s exactly what you’re doing here. You’re saying. “Okay, I’m willing to lose 20 bucks, I’m willing to lose 100 bucks, I’m willing to lose 500 bucks for the chance that I might win something.
If I don’t, great, it was 100 bucks, it was 500 bucks,” You can get that money back. There’s other things, you can go mow lawns on weekends for a couple of months and get that 500 bucks back. But on the upside you hit a jackpot, you hit a bunt even you’re going to make that money back. If you do the research properly and you do something and follow a method like ten by ten by one where you know that there’s depth in the market, you know that there’s demand. You followed the process, it’s not gambling. It’s like handing somebody a $20 bill and then handing you $25.
[00:52:46] Scott: Well and you’re learning through the process. You’re learning through the process and then you’re going to be able to take that to your next product. Dom what do you think? What grinds your gears? Let’s go there. I see you’re ready to say. You want to say what, you’ve something grinding your gears.
[00:52:59] Dom: Oh there’s lots of things. Again we use a gambling analogy for everything for everything that we buy actually, it’s the same thing. Matter of fact I went to the casino last week on Saturday and saw Russell Peters at the Casino Rama. I don’t know if you know who Russell Peters is but…
[00:53:18] Chris: He’s a comedian.
[00:53:19] Dom: Comedian, Scott probably doesn’t know who he is. He doesn’t know who Sidney Crosby is.
[00:53:25] Chris: He’s that weird Canadian hockey player. He falls down a lot.
[00:53:32] Dom: We have the world cup coming up. No but like I was saying, they give you $10 on the house just for registering for something. I took that 10 bucks I put it in. I actually won 600 bucks in 10 minutes. That was my luck of the week. I took that probably put that in private label or something like that. Listen, no matter through your classes Scott and through these videos, everybody else on YouTube and everything else that tries to help with information it’s always a risk reward. That’s what it is. It’s the same analogy as the gym membership analogy.
Being a bigger guy I know that at the end of my heart, I understand. You go in you don’t see results you just get fed up and you just quit. That’s just what it is. It doesn’t take you two weeks to lose weight. It doesn’t take you two weeks to sell 20 things, you got to work through it all. I get the same thing all the time here even in Canada with all the people that we work with. It’s the same thing. People want to give up and I get it. It’s an investment, you get frustrated but you got to work through it. Like I said you got to give it a year to validate it.
You don’t have $10,000 we get it. Scott we showed them ways to do it. There’s lots of ways even here’s an example today. I put a bunch of stuff in the back of my warehouse because I didn’t want them anymore, stuff that we didn’t want to move. Some retail arb stuff that we had extra of, didn’t want it. I put an ad in Craig’s list free, come and get it. It was gone in about two minutes. That guy’s so happy. I’m going to put this on my free marketer. I’m going to go sell this stuff to a guy I know who will buy from me. He was so excited.
[00:55:10] Scott: What did his voice sound like again I didn’t hear that?
[00:55:12] Dom: Something like that. Jesus Lois. [inaudible 00:55:16].
[00:55:18] Scott: That might be the voice for what grinds your gears, maybe you can give a little taste of that.
[00:55:22] Dom: I’ll give you a little intro. So there’s lots of ways. The retail arb way is the easiest way to do it. The thrifting, the house hunting like we talked about. You don’t have to put any really money. You just go to your parent’s house and say, “Mom what are you guys throwing out?” “Take everything over here for the garage I don’t want it.” Take it and sell it. You can do that for people that work.
That’s how those green, those 1-800 got junk work. They throw all the junk out, they keep all the good stuff and sell it. And you’re paying them to get rid of your garbage.
[00:55:48] Chris: And they charge you to come pick it up.
[00:55:51] Dom: What a concept is that?
[00:55:54] Scott: What’s that 1-800 junk?
[00:55:56] Chris: 1-800 Got Junk.
[00:55:58] Dom: There’s a billion of those things. No matter what we talk about or what we teach it’s all going to each other’s person, because we all do it. I do it. When it comes to private label same thing. I’m like “I don’t know if we should launch that.” We think about it, test the market and then sometimes we pass it. Sometimes we’re like “Oh I’m glad we didn’t sell that because a million people saw it.” Then there’s the other, “We should have launched that now we would have been the first to market.”
I’ve had that happen more than the other. Now I just go with my gut. We do it, we work it. Again we’ve worked on that Scott. Trust me when we first launched our first thing three years ago we were scared as heck. I can sell retail arb all day long but with private label it was like who’s going to want our stuff with our name on their table, in their cart? We’ve pursued through it.
[00:56:44] Scott: What grinds your gears Dom?
[00:56:45] Dom: What grind my gears today it’s got to be Amazon this week because of that vendor central because that’s kind of irritating. I’ve been dealing with that all week, dealing with the counterfeit unauthorized product with the NFL stuff. It’s been a busy week for us which is the first time. This is happening probably to lots of people in your Facebook group and on here. That’s what’s upsetting I’ve had to be on the phone back and forth. Nobody really gives you any answers, they send you to all different departments.
It’s so disorganized for such a big company. A billion dollar company I can’t talk to somebody at brand registry when I give them literally thousands of dollars an hour on our fees and stuff. “Sorry we’ll get a hold of it.” I have to write emails. Just having to tell people what your ASINs are, annoys me. You guys when you call in you have to talk with three people. You have to give them your ASIN three times. I’m the same person. That’s where my frustration is.
[00:57:45] Scott: Are you going to quit thought Dom? Are you going to quit?
[00:57:47] Dom: No, we move on to the next thing. You know what I did for the product that I had to cut? I just put them 5 cents cheaper so we have the buy box again. Whatever, we’ll buy some stuff out until they figured it now. Now that I know it’s Vendor Central, I’m going to go back there when I’m off this and we’ll call them and say look if you check this aspect of it. I’d say no why would you quit? You built the whole business on you, you can’t just do that. Like you said, get the one thing on, go to two products, three products, four products, five products then you’ve learned the system.
It just gets easier because you know the in’s and out’s, you know what’s wrong, you know what not to buy, what not to sell. That’s basically it now. I think you need a brand, either a brand. There’s two ways you can do it. You can do it like yourself, you can do a brand or you can do like me and Danny do or Andy or even Chris to say you just launch a bunch of brands and a bunch of different products and see if that works. There’s two different ways you can kind of do it now.
[00:58:45] Scott: Absolutely. I think that’s a good approach. I think everyone has their own approach and it may change. You may pivot in a year from now and say, “I don’t want to go down this road. I don’t want to build an authority where I actually do all this stuff. I just want to build multiple brands that are just product brands,” and go from there and that might work for you.
But again just understand there’s not like one right way to really do anything. The only thing there is is there’s going out there and doing something and then figuring out your way. It’s been proven. There’s money being transferred online to people so it’s just up to you to get your stake in it and your account to have some money flowing into it from products.
[00:59:32] Dom: What we know is that we’re selling on someone else’s marketplace. That’s what you do know.
[00:59:36] Scott: You’re rented land. I always look at it like rented land. If they want to kick me off or tell me to leave and I have to go look for a new home, they can do that.
[00:59:45] Dom: Everyone knows on this one, out there you put it on there, asking how many people have been kicked off they’ll do it instantly. You got to prove to them and that’s the bad part of it all which is a sad part with a big company like that. They don’t give you a chance. There’s going to be a lot of bad apples but there are some people that are just legitimately put RA product on and they just want to sell their private label products. They didn’t know a copyright was on that keyword.
They don’t make the process easier but you just keep moving through it and that’s why you have different channels whether it’s a Shopify store or eBay or retail arb or Private-label, your wholesale, your… What you want to do. If you do a little bit of that you can make a living out of it. You hope that within one of those that you get a hit, a grand slam, you get a homerun out of a Private-label. RA you can get lots of home runs, tons. If you buy 100 of the same thing, sells for 25 bucks all day long, a lot of stuff we buy. That’s common in RA but private label, if you can get something that’s selling for 20 or 30 a day. Congratulations.
[01:00:49] Scott: That’s good. We’re running out of time here. Chris do you want to talk a little bit about what grinds your gears real quick this week or are we good?
[01:00:58] Chris: I think we’ve covered it let’s jump into some Q&A real quick.
[01:01:00] Scott: Okay cool.
[01:01:00] Chris: Zelia says, “If you want to sell an item that has multiple sellers, how can you be sure you’re not hijacking someone’s listing?” Guys when we’re talking about hijacking that means listing your product on their listing. If you’re doing private label, you’re going to have your own listing, at least for the most part, you’re going to be starting your own listing so you don’t have to be worried about a hijack there. Al wants to know, “Scott and Dom, is it too late for Q4 to get a product imported and launched?” To take advantage of Q4 this year.
[01:01:29] Scott: If you’re starting right from scratch to manufacture I think it’s going to be tough.
[01:01:35] Dom: It’s going to be tight.
[01:01:35] Scott: It’s going to be tight. But again, Dom you may not agree but that’s okay. I don’t think that…
[01:01:43] Dom: That’s what we’re here for.
[01:01:44] Scott: I don’t think that you should bank on Q4. If you’re just getting started you can still get started just understand how Google Trends works, how the market can shift and common sense tells us too. If you’re selling shovels, they’re going to sell better in December. Than if you’re going to sell them unless you’re talking garden tools. If you’re talking garden tools it’s better in the summer. Common sense tells us that stuff. If fourth quarter isn’t going to work for you, start planning first quarter. Maybe first quarter is going to be your product that you’re going to go after. That’s what I would say there. Does that mean you shouldn’t launch? No, it means get started now, and then maybe you can get it in. Who knows, maybe your supplier can get it turned around in two weeks. Who knows?
[01:02:25] Dom: I’m going to tell you if you’re sourcing in the US you have a chance. What’s in Canada is in the US, you could do it. To be honest it’s going to be really really, tight. Because even by the time you get it launched, if you’re want to have 300, 400, 500 pieces… You can do it though Scott, you go the Ali Express way, no problem and do it. We can launch that right now, no problem. Go to Ali Express, buy 400 units, find it in the US you can do it. But for new guys, like his question don’t worry about the quarters.
Don’t worry about fourth quarters. Start your stuff, you have them for January 1st you’re fine, who cares. If you want to do… We time to go into fourth quarter, you’ll get used to that routine. But even I don’t do that, certain products I will but I’m doing new products now, I know they’re not going to be ready. Your actual big thing is to actually make sure you get it done before the Chinese New Year so he doesn’t prolong it even more. I wouldn’t worry about quarters at all if you’re starting if you’re on your first product.
[01:03:18] Chris: I look at that as bonus. Q4 is just bonus. We need to put a little more in but you get more out. If you don’t hit it this year guess what? There’s going to be Christmas next year. There’s going to be next summer, there’s going to be next spring. There’s’ going to be all of these times. Don’t let that deter you. Not being able to get it in by November 15th or in my case October 31st is where my arbitrary cut-off phase is for that. Doesn’t mean that you can’t get it in right after Christmas and start selling. You might be selling ten a day instead of 15 a day. But you’re still selling ten a day that’s still $100 a day that you didn’t have today. Don’t let that stop you.
Don’t let that deter you. Marco wants to know, Scott. He says, “I have one product, I’m making $10,000 to $15,000 in sales every month. Is this a good time to start an LLC or an S Corp.” What I will tell you Marco is Scott is not an attorney, I am not an attorney. Dom is not an attorney. Brody is but his English is kind of poor. Your best bet is to talk to an attorney. What I will tell you is that, yes you should definitely have one at that point. You’re probably going to be leaning more towards an S Corp. Just because if you do start paying yourself, it makes things a little bit easier. But talk to your attorney based on your specific situation, they’ll give you the guidance there.
[01:04:28] Scott: Chris let me chime a little bit in there. I had a question from Periscope. They want to ask Dom do you think that retail arb is done?
[01:04:34] Dom: No, not done, nowhere near done. Listen 95% of stuff you’re going to find out there won’t be blcoked on Amazon anyways. You’re going to start blocking publishers from books? You know what I’m saying? A lot of people that do retail arb, they live on selling books. That’s not going to stop. Then there’s eBay. Your own Shopify store, Craigslist…
[01:04:59] Scott: What’s eBay? Does eBay still…?
[01:05:01] Dom: People forget about eBay because everyone because of Scott and Chris you guys look at private label, and you think, Amazon. Again I survived on my first eight, nine years just on eBay without going to Amazon. We built our business to what it is now. Amazon definitely brought out that next level but eBay is fine. The traffic’s not as good as it used to be but it’s just the way it is you can still sell it there.
[01:05:26] Scott: I was telling a story this past week. My microwave repairman, did you hear that story Dom?
[01:05:33] Dom: Yes I heard it.
[01:05:34] Scott: My microwave repairman came and… He reminds me of the guy from Honey I Shrunk the Kids, really smart guy, really intelligent. He’s got his own meters out, he’s just testing and he’s like a mad scientist. He’s looking and he’s like, “Yes I think it’s o-melotron or something thing or whatever.” And I’m like, “Okay whatever.” He’s like, “What do you do?” We got to talking, long story short he told me that he basically makes these little jumpers, these solenoid things or whatever. He coils them and the whole thing and he sells them for 12, 15 bucks for these certain models.
He’s been doing that for three years. He’s made over $20k on just that one little device that he makes at home. That’s on eBay, he doesn’t even sell it on Amazon. I’m like, “Why don’t you sell on Amazon?” He goes, “Well I just haven’t gotten around. You need a UPC code and stuff.” I go, “Okay we can get you that.” Then we got talking about that, I’m like, “You’re leaving a ton of money on the table.” He made 20k on this tiny little jumper thing and he puts it on a poly bag, no packaging.
Little zip lock and sends it to the house. And when he bought my parts, he bought them off of eBay. He gets them, he throws them on my counter, he tears them open, puts them in there, gets the screwdriver. He didn’t look at the packaging. Again he’s selling replacement little parts for these devices, not sexy but he made 20k, $20,000. Anyway eBay isn’t dead for certain products for sure.
[01:07:02] Chris: One last question and Scott, if you have any on Periscope, feel free to rattle them off.
[01:07:06] Scott: Any questions let me know.
[01:07:09] Chris: One thing, because we’ve been talking about product research so I want to end on this one from John. He says, “Any advice for someone suffering from product research paralysis?” Go do, and if you guys hear me, I think it was episode of 23 which we’ve talked about a couple of times where I first went on this rant. I don’t care what you have to do to get past it. If you found, let’s say three products because that’s where a lot of people are. “I found three that might work and I just can’t pick one.” Pick one and go do it. If you have a dog, fill three bowls with food, put the name of the product. Product one, product two, product three at the bottom. Whichever one he eats first, that’s your product.
If the numbers work for all of them just pick one and go do. I know that sounds like we’re beating you over the head but that realistically is the answer. No one can make you do it, you have to choose to do it for yourself. If you’re at that stage where you found a product that might work, test it. If you’re scared to go for a full order, I have been. You can do a small test order. Those are usually the products for me that work out to be the best. Then you kick yourself Dom, like you said earlier, you kick yourself in a couple of weeks because you’re like, crap I’m selling ten a day. Now I need to reorder inventory.
If I would have ordered the 500 or 1000 in the beginning, I wouldn’t be short right now. You just have to go do. The human body and I went on this rant last night as well. The human body is designed to be terrified of everything. That’s why we’ve survived so long as a species. If you don’t have fear, you’re not doing something correct. If you’re never afraid, if you’ve never had paralysis. If you’ve never come up with excuses as to why you can’t do something, then you’re not pushing yourself. You’re not pushing your limits. Hitting one of those walls is what means you’re moving in the right direction. You just have to acknowledge that, say yes. Check whatever you need to check. Look at the numbers one more time and then place an order for the product.
[01:08:53] Scott: How many pages of the same product is too much?
[01:08:57] Chris: Doesn’t bother me at all. I don’t really look at that to be honest with you. I look at the depth. If the depth is there it’s there.
[01:09:04] Scott: Okay, but let me ask you this, what if it’s the same product?
[01:09:07] Chris: That is the one exception and I knew you were going to come after.
[01:09:10] Scott: Everybody’s selling the same pen and it’s the same picture, it’s the same angle. It’s on Alibaba or AliExpress right now. You can buy the same pen, it’s there. And the only thing I’m going to do to differentiate myself is give a two pack or a three pack.
[01:09:23] Chris: Again that is also different. If you’re able to differentiate that product even if all 15 pages are of the same exact product, I might look at that. If it’s something that you can’t make a change to, it doesn’t make sense, you couldn’t do a combo pack like that. Nobody needs two garlic presses.
[01:09:38] Scott: My only different thought on that would be that if I did it then people are going to see that it’s successful and all they’re going to say is I just add two. Unless you can make that product different, it’s going to be short lived on how long you’re going to sell that multipack of the same Bic pen. Does that make sense?
[01:09:57] Chris: You could work with the manufacturer again, differentiating it. You could make it a twisty bottom instead of a clicky top. That’s a different product and yeah eventually other people will start selling twisty bottom pens.
[01:10:09] Scott: But now if I found this pen and no one else can find this pen because I had it specially designed and it says that it’s easier on your finger and it doesn’t give you cramps and that’s what people are complaining about, now we’ve got something.
[01:10:20] Chris: Isn’t that a pencil?
[01:10:21] Dom: Yes it is.
[01:10:24] Scott: It’s my example.
[01:10:25] Chris: If you can launch a pencil and a pen that’d be great. That’s realistically what it comes down to when you’re looking at something like that. Is everybody’s selling the same product, the same exact thing? Not is everybody’s selling a garlic press but is everybody’s selling the same exact stainless steel garlic press, no, great. You’ve probably found a market, yes. Can you differentiate that product? No, maybe you avoid it. Yes, then you’ve found something.
[01:10:49] Scott: Do we still…? Here’s Dom’s got something going on.
[01:10:55] Dom: It’s backwards.
[01:10:56] Scott: You’re right I can read it. Next Product, move on.
[01:11:02] Chris: That’s another good point to make Dom. There’s other products out there.
[01:11:07] Dom: Why are you going to sit there and frustrate yourself to try and make a different clicky thing on a pen. Just go find something else. This bothers the heck out of me.
[01:11:16] Scott: Uh oh, something else that grinds his gears.
[01:11:18] Dom: Guys, there’s a million products man, think different. If you see there’s 500,000 1,400, 1,800, 600 feedback. Second page 800, 400, 399, 699 forget it. Now if you see 185 feedback, 85, 29, 85, 65. Second page 99, 39, 139. Third page, 19, 18, you might have a chance. Saturated versus saturated and too competitive. I would just move on. Now the only way we don’t move on is if I need to add that product into our brand. Because if we have done it yet. Do you follow what I’m saying?
[01:12:00] Scott: Yes, yes.
[01:12:00] Dom: If I’m doing a barbecue thing and I need a barbecue cover. What am I going to do? I’m missing it and I got to do it. I’m selling all the utensils, I’m selling…
[01:12:08] Scott: Most people that are buying your other products are going to then come to your product to buy because it’s your brand.
[01:12:13] Dom: Exactly then you still got to try and make it different. More colors, different sizes, add something to the packaging, whatever. You still need to do it. In a lot of niches you’re going to have to do that. If you’re working in a brand you’re going to like “oh my God, I want to add these two at 4.00 AM, what I’m I going to do now?” Just add it, it’s fine. I see it happen all the time.
[01:12:33] Scott: We got to wrap this up but I wanted to ask one more question because it just came in on Periscope. Product inserts, are you still doing them? Okay, thumbs up, thumbs up.
[01:12:45] Dom: Everything.
[01:12:48] Chris: There’s no reason not to. It’s worth the three cents or whatever. If you can get an email address… Even if you, let’s say you order 100. You have 100 units and you get one email address out of those sales and you paid three dollars for it, good. Now you have an email address. Chances are you’re going to get more than that out of something like that. But it’s worth it to have the emails long term.
[01:13:09] Scott: What do you put on the insert card? Coupon, anything like that? Someone just asked.
[01:13:14] Chris: I’ve done some different things. I’ve done e-books they work okay if the product lends itself to that. The one thing that I keep seeing over and over again that tends to work pretty well is register to win a gift card. You can give an Amazon gift card. Register your product, get our extended warranty and be entered to win a gift card. That works pretty well. That converts I’ve seen upwards of two, three percent on that.
[01:13:36] Scott: Does Amazon not restrict this? Someone just asked.
[01:13:40] Chris: No it’s your product.
[01:13:42] Dom: Product packaging it’s fine.
[01:13:43] Dom: Two ways, methods we do it. Business card size and postcard size double sided. Here’s your URL for a VIP club, here’s you URL for your registry and the backside. Here’s promo codes. You buy one, you buy two, you buy five, you buy ten. That’s it.
[01:14:00] Scott: You’re not directing them away from Amazon.
[01:14:02] Dom: I’m not directing from Amazon, we don’t do anything, everything comes through that. A three and a half cents, a two and a half cents. Maybe even a penny for something you do. That email’s worth to you a dollar or ten dollars because first of all it’s going to save you on reviews if you need to get some products away. At half a cent I’ll buy reviews all day for three and a half cents. Two it will save you for your funnels.
[01:14:25] Scott: He loves it, he loves it.
[01:14:28] Dom: Don’t forget that, we’ve got the funnels.
[01:14:29] Scott: Hold on a minute, overtime question here. Clear up the label directly on the package, can you put that back in there? Someone had a question as far as brand registry I think, in putting your label on your package. Do you know what they’re saying Dom?
[01:14:44] Dom: I think what they mean is, okay if you got a box and you put something inside of it. They just don’t want it just on the box. Open the box, they want it on the actual package in plastic. But I don’t know why you said a box in a plastic. Some people do. What we do is if it’s a box, the box is fully colorized anyway, all the UPC code. Again retail ready, you don’t have to worry about that stuff. Take a picture of it, here ya go.
If it’s on a bag, we have the bags everywhere, PVC bags, PE bags. Not just the poly bags. On the product, we actually have all label too. Embossed, silk screen, heat transfer, all that stuff so fully covered. Then inside the box in the package we actually put a stamp in the inside of the boxes. So they won’t put a stamp on it so we’ve covered ourselves three four different ways. As you get to launch more products, you get to be like… I promise if you try to do all this stuff on your first product, you’re going to be there forever.
[01:15:41] Scott: I don’t think you have to start like that but you’re taking it to the next level. They’re being branded internally in the box so your competition can’t see that. That’s a great way to prove that it’s your product because you can say to Amazon or whoever. You can say, “Listen our product is the only one that has this on the inside.” The only way your competition is going to know this is if they bought it. And then tore apart and then copied it inside the box.
[01:16:02] Dom: They’re not going to do all that work. Why would they want to brand my brand anyway?
[01:16:05] Scott: It’s too much work.
[01:16:08] Dom: I’m not a big brand, we’re not a big brand. Push your product, push you products.
[01:16:11] Scott: How’s that go? How’s that go?
[01:16:14] Dom: I’m not a brand Dom, I’m trying to push product.
[01:16:18] Scott: That’s Danny Brewer everyone by the way. Danny Brewer might be watching this too. Do that one more time, I like that go ahead.
[01:16:25] Dom: Dom I’m not a brand, I’m not Nike. I’m here to push product. I don’t know if that’s a good Indiana accent.
[01:16:35] Scott: Danny Brewer you got to come back at Dom now. You got to do a Dom impersonation. That’ll be fantastic. “Chair Wars!”
[01:16:44] Dom: Chair wars. Dom Sugar vs. Danny Brewer.
[01:16:46] Scott: The Candy Man. Alright we got to roll here, we’re 18 minutes past the hour.
[01:16:58] Dom: Well, we started 18 minutes late.
[01:16:59] Scott: No we didn’t, we started five minutes late.
[01:17:00] Scott: We’re 12 minutes.
[01:17:02] Scott: And that’s because you showed up late.
[01:17:03] Dom: This is a Power Hour plus session.
[01:17:06] Scott: Chris, you want to wind it down there? I just want to let everyone know if you want to learn more about Dom, Dom, why don’t you give a little bit more about how they can find your group and stuff in Canada or whatever.
[01:17:16] Dom: Yeah, for sure at meetup.com just type in TAS Canada FBA, Amazon private label you’ll find us there. You can also find The Amazing Seller Canada on Facebook, you can find us there as well. Same thing, it’s pretty well the same as your group except I don’t have anybody in it yet because Canada still hasn’t figured it out. Anybody from Canada, anybody that I worked with that comes to our meet-ups guys. Let’s get going here.
[01:17:42] Scott: Actually I think the next time we get on here too Dom I’m going to work on getting you a URL so we can get people a direct link over there. Dom is great guy knows his stuff, been in the business a long time. Very generous with his time. I’m so grateful that you’re on here today. This is a lot of fun and you’re always making me laugh, that’s the other positive thing. Gosh, Gosh you always make me laugh.
[01:18:04] Dom: Hey, I’m paying back for all the help you’ve helped me over the years.
[01:18:07] Scott: Yes, and then Chris I want to thank you and anyone else that’s just out there and wants more information about this or you guys are just tuning in, share this on Periscope, Facebook Live, Facebook, Twitter, wherever. You can always find us at theamazingseller.com the podcast is there. Everything will come back to stuff like this. Some helpful resources for you, the workshops that we do. Just wanted to hop on here and just chat with my buddies and let you guys listen in on the conversation. This has been fun. Alright that’s it, that’s going to wrap it up. Periscope I’ll be right with you guys. Facebook Live, I want to thank you. Chris are you going to shut everything down for me? Are we good?
[01:18:46] Chris: Yes.
[01:18:46] Scott: Alright awesome. Take care guys and take action out there.
All right guys so there you have it. I’m going to wrap this up and make it short and sweet at the end here because well we went over the hour on TAS Power Hour. I hope that you got value from it. If you want to come and hang out with us on a Friday afternoon at 1:00 PM Eastern Time while we’re doing this, head over to theamaizngseller.com/hour and just like that fan page and then you’ll get notified when we go live or you’ll get updates as far as when we post a replay or any of that stuff.
Or if I feel like the episode was worthy of the podcast, well then I’ll put it up on the podcast because I know some of you just can’t make it to those live power hours that we do. Again, I love hanging out with those guys and I just love hanging out with you guys. Definitely come hang out with us on a Friday afternoon and hopefully you got value from this. Yeah, guys that’s it, that’s going to wrap this up. If you guys want to head over to the show notes to this page, the transcripts, head over to theamazingseller.com/261.
Alright guys that’s it, remember, I’m here for you, I believe in you and I’m rooting for you. But you have to you have to… Come on say it with me, say it proud, say it loud, “Take action.” Have an awesome amazing day and I’ll see you right back here on the next episode.
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