Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Thinking about selling your e-commerce brand? You're not alone. The market for established online businesses is booming, and Flippa, the world's leading platform for buying and selling online businesses, can help you navigate the process. In this post, we'll explore key factors to consider when evaluating your brand's sellability and provide valuable insights from Benny Gould, Flippa's global head of advisory. [00:02:32] Determining Business Valuation: Assets, Financials, IP.[00:04:40] Understanding Due Diligence in M&A.[00:05:59] Timing and Market for Selling.[00:06:25] Partnerships and Long-Term Acquisitions.[00:06:37] Typical Deal Structures: Cash, Deferred Payments.[00:07:06] Buyer Experience Influences Deal Structure.[00:15:40] Look at Revenue North of 250,000.[00:20:18] E-commerce Success Post-COVID Depends on Audience Targeting.[00:22:40] Impact on Sellers' Lives Drives Flippa's Mission.[00:23:48] Handbook Educates Small to Medium Business Owners.[00:25:19] Insights from Flippa Provide Valuable Perspective. Is Now the Right Time to Sell? The 2024 E-commerce Landscape The answer is a resounding yes! The e-commerce market in 2024 presents a seller-friendly environment. However, many brand owners remain unaware of their business' true value and exit potential. This is where Flippa's expertise comes in. Understanding Your Business Value: Valuation Methods Explained Determining your e-commerce brand's value is crucial. Flippa utilizes a three-pronged approach: Asset Valuation: This considers tangible assets like inventory and intellectual property (IP) associated with your brand. Financial Performance: A thorough analysis of your profit and loss statements reveals your business' profitability, a significant factor for buyers. Market Benchmarking: Flippa leverages its extensive 15-year data pool to compare your business against similar e-commerce brands, providing a realistic valuation range. Beyond Price Tags: Due Diligence - A Critical Step A successful e-commerce business sale hinges on robust due diligence. This involves two key aspects: Verification: Similar to a property inspection, buyers will meticulously examine your business. This includes customer verification, inventory checks, and supplier contract reviews. Deal Structure: Negotiating a win-win deal structure is essential. Key considerations include cash upfront payments, earnouts (performance-based payments), and potential lending arrangements. Legal Considerations: Ensuring a Smooth Transaction Selling your e-commerce brand involves legalities. While market conditions are favorable, focusing solely on valuation multiples isn't always the wisest approach. Flippa can connect you with legal professionals to protect your interests throughout the exit process. Unveiling Typical Deal Structures in the E-commerce Market Flippa caters to both experienced and less-experienced buyers. Here's a breakdown of typical deal structures: Experienced Buyers: These buyers often have readily available funds and can offer a higher percentage of cash upfront, especially for businesses exhibiting consistent growth. Businesses with a strong track record (over 4 years) tend to attract more upfront cash offers. Less Experienced Buyers: Securing loans might be more challenging for less-experienced buyers, potentially impacting the upfront cash component of the deal structure. A Global Marketplace: Cross-border Transactions in E-commerce Flippa facilitates a significant number of cross-border transactions (over 67%). This opens your brand to a wider pool of potential buyers, like family offices and high-net-worth individuals seeking international investment opportunities. Although cross-border transactions involve jurisdictional considerations, Flippa's team is well-equipped to navigate these complexities. Why Consider Selling to International Buyers? Some e-commerce brands might have established a strong presence ...

The ecommerce market is constantly evolving, and 2024 is no exception. While giants like Amazon might seem to dominate the landscape, there's still incredible opportunity for established brands to scale and thrive. In this post, we'll explore how to leverage the power of mergers and acquisitions (M&A) to fuel your ecommerce growth, even with limited. [00:00:00] - Benny Gould Mentions Flippa Does Around 12,000 Deals Per Year For Online Businesses.[00:01:12] - Michael Asks Where Benny Is Coming From (Amsterdam).[00:01:57] - Discussion About Flippa Having A Global Reach And Being Distributed Across Different Locations.[00:02:09] - Michael Asks About Flippa's History And Reputation For Smaller Deals In The Past.[00:03:22] - Benny Mentions Flippa Currently Has Over 122 Businesses For Sale Valued Over $1 Million.[00:04:21] - Michael Asks About The Landscape Of Selling Amazon Businesses In 2024 And The Role Of Aggregators.[00:07:09] - Discussion About The Overview Of The E-commerce Business Market In 2024.[00:10:32] - Benny Says March 2024 Was A Record Month For Flippa Across The Company.[00:11:11] - Michael Asks About The Mix Of Different Digital Assets For Sale On Flippa Beyond E-commerce[00:13:35] - Discussion About Amazon Sellers Potentially Combining Different Business Models Like Content Sites.[00:15:18] - Benny Provides Information About Flippa's Free Guides And Resources For Selling Or Acquiring Businesses.[00:16:18] - Benny Offers A Special 30-day Free Trial Of Flippa Premium For Podcast Listeners. Flippa: Your Gateway to High-Value Ecommerce Acquisitions Many brand owners might not realize the potential of M&A for scaling their businesses. This is where Flippa, the world's leading platform for buying and selling online businesses, steps in. Founded in Melbourne, Australia, with hubs in Austin, Texas, and Amsterdam, Flippa boasts a 15-year track record of facilitating successful M&A transactions across over 160 countries. Beyond Small Deals: Uncovering Big Opportunities on Flippa Flippa isn't just about small deals. Contrary to popular belief, 99% of business owners are unaware of the platform's potential for high-value acquisitions. Flippa has facilitated over 122 deals exceeding $1 million valuations, alongside numerous significant 6- and 7-figure transactions. Their experienced team leverages their global reach to connect sellers with qualified buyers, even for cross-border transactions (a staggering 87% of deals on Flippa!). With over 12,000 deals completed last year, Flippa offers a robust marketplace for scaling your brand. The Evolution of Digital Assets: From Domains to Thriving E-commerce Stores The digital landscape is ever-changing. Just like the early days of domain flipping and affiliate marketing, the rise of Amazon and ecommerce created a new wave of valuable digital assets. Today, established e-commerce stores, along with their social media channels and intellectual property, represent lucrative opportunities for acquisition. Meet Benny Gould: Leading Your Ecommerce M&A Journey Benny Gould, Flippa's global head of advisory, leads a dedicated M&A team of 14 experts. This team operates through two distinct models: a pure brokerage model that identifies and secures deals, and an M&A advisory team that provides in-depth valuations for businesses considering an exit strategy. Flippa's experts can guide you through every step of the acquisition process, ensuring a smooth and successful transaction. Navigating the Evolving Ecommerce Landscape: M&A Trends in 2024 The COVID-19 pandemic undoubtedly impacted the M&A market, driving up revenue and deal valuations. However, 2024 presents a unique landscape. While some distressed sales are still present, the majority of deals involve profitable businesses. Notably, there's no shortage of capital available for acquisitions, with a significant increase in buyer activity on Flippa over the last two years.

Are you ready to break through plateaus and achieve explosive growth on Amazon? This guide unveils the 8D Framework, a data-driven strategy designed specifically for established e-commerce brands with Product-Market Fit (PMF). Learn how to optimize every aspect of your Amazon presence for maximum impact, leading to a potential 2X growth in just 12 weeks. Time Stamps [00:00:00] - Discussion about profit margins and pricing strategies for Amazon sellers.[00:07:55] - Explanation of the importance of product positioning and brand consistency across platforms.[00:15:18] - Introduction of the fourth dimension of the 8D framework: product positioning and brand building.[00:21:40] - Discussion of the fifth dimension: customer experience optimization for different devices and languages.[00:28:11] - Explanation of the sixth dimension: tech stack and utilizing AI tools like ChatGPT.[00:30:40] - Details on the seventh dimension: logistics and supply chain management, including Amazon's Seller Fulfilled Prime program.[00:33:47] - Description of the eighth dimension: team communication and collaboration.[00:37:15] - Information about attending the free workshop and the 12-week Rapid 2X Accelerator program.[00:40:00] - Summary of the 8D framework and an analogy to the movie "The Karate Kid."[00:40:23] - Details about the 10K Collective Uber Mastermind program offered by the host, Michael Veazey. The 8D Framework: A Deep Dive The 8D Framework goes beyond simply throwing money at advertising. It's a meticulous, step-by-step approach that optimizes your existing assets for peak performance. Let's break down each dimension: Dimension 1: Performance Optimization This stage involves a comprehensive audit of your Amazon presence, including: Product Detail Pages (PDPs): Optimize titles, descriptions, images, and videos for maximum clarity and conversion. Leverage A+ Content to showcase your brand story and product benefits.Brand Store: Establish a dedicated brand presence on Amazon to build trust and brand recognition.Brand Registry: Enroll in Amazon Brand Registry to protect your brand from counterfeiters and unlock additional features.Amazon Ads: For brands exceeding $150,000-$250,000 in annual sales per ASIN, utilize Amazon Ads strategically to target relevant customers and drive conversions. Leverage Amazon Attribution to track campaign effectiveness. Dimension 2: Pricing & Promotions Strategic use of promotions can boost sales, but profitability is paramount. Consider factors like: Ideal Gross Margin: Aim for a 65% gross margin after accounting for landed costs.Amazon Fees: Factor in Amazon's selling price fees (30-35%) and FBA fulfillment costs when determining profitability.Advertising Costs: Account for Advertising Cost of Sale (ACOS) alongside Amazon fees to ensure a healthy net margin (ideally 10-15%).Promotional Calendar: Utilize targeted promotions for holidays like Valentine's Day and Mother's Day, but ensure profitability. Dimension 3: Marketing Beyond Amazon Ads Move beyond viewing Amazon PPC as your sole marketing strategy. Focus on building a strong brand story that resonates with your target audience: Craft a Compelling Brand Narrative: Every product has a story – use it to connect with customers. Highlight use cases, and showcase the story behind your brand and founders.Influencer Marketing: Partner with relevant influencers on platforms like TikTok, YouTube, and Instagram to amplify your brand message.A+ Content & Brand Store as Storytelling Platforms: Utilize A+ Content and your brand store to showcase your brand story and product benefits. Seasonally adapt your content to maintain freshness. Dimension 4: Product Positioning & Brand Building Set your product apart from the competition through strategic positioning and brand building: Showcase Product Differentiation: Demonstrate what makes your product unique. Use high-quality product images and videos that showcase the product ...

Have you hit a plateau with your Amazon sales? Dreaming of explosive growth but unsure where to start? This guide unlocks the secrets used by industry leaders to achieve 2X growth in just 12 weeks. Learn the 8D Framework, a data-driven approach specifically designed for established e-commerce brands with Product-Market Fit (PMF) to scale their Amazon presence efficiently. Time Stamps [00:04:15] Having $100k-$250k in yearly sales per product demonstrates product-market fit for Amazon sellers.[00:06:05] He looks at sales per ASIN/product line, not the seller's total sales across all products.[00:09:01] The 12-week Rapid 2X Accelerator program aims to have clients trending at 2x their daily sales rate.[00:10:19] The program implements optimizations across 84 days in areas like logistics, productivity, and sleep habits to compound growth.[00:14:46] The first dimension is Performance Optimization - optimizing product listings, A+ content, pricing, promotions, and PPC campaigns.[00:18:04] This includes optimizing titles, bullet points, images and videos to increase conversions and organic ranking.[00:20:25] For FBA, having enough inventory for 1-day Prime delivery can significantly increase sales conversions.[00:27:11] One client saw 50% sales growth in the first week from just the listing optimization dimension. About the Author : Sabir Semerkant Sabir Semerkant is a titan in the e-commerce world. Over the past 25 years, he's helped launch two entirely new Amazon categories and worked with clients featured on Shark Tank. His company, GrowthBySabir, has generated over $1 billion in e-commerce sales across diverse platforms like DTC, Shopify, and, of course, Amazon. Partnering with Gary Vaynerchuck Sabir's expertise caught the eye of Gary Vaynerchuk, leading to a collaboration that brought e-commerce to the forefront of Vayner Media. Together, they established a global e-commerce agency with a proven track record of success. Defining Product-Market Fit (PMF) Before diving into the 8D Framework, let's solidify the concept of PMF. For Amazon specifically, Sabir defines a brand as PMF-ready if it meets the following criteria: Yearly Sales per ASIN (including variations): $100,000 - $250,000 USD Experience with common challenges: Counterfeiting, cloning, brand registry Marketing Efforts: Basic understanding of advertising (Amazon Ads or Google Ads) Supply Chain Management: Inventory control and responsiveness to customer feedback Product Iteration: Willingness to adapt based on reviews and competitor analysis For Shopify stores, the overall PMF threshold translates to roughly $500,000 in annual sales. Confirming Product-Market Fit (PMF) Here are some additional indicators of PMF: Inventory Management: Consistent stock availability Product Photography: Ability to capture high-quality product images (even with an iPhone) What the 8D Framework Isn't This framework isn't about throwing money at advertising (Amazon Ads or Google Ads). It's a data-driven approach focused on optimizing existing assets for maximum impact.

In the bustling world of e-commerce, one question looms large: why do people buy? We often find ourselves fixating on the features of our products, the materials they're made from, or the benefits they offer. But in reality, successful selling goes beyond these surface-level attributes. It's about tapping into the deeper desires and emotions of our customers. Welcome back to part 2 of our exploration into authentic selling, where we delve into the psychology behind consumer behavior and how authenticity can revolutionize your sales strategy. Understanding the Customer Experience: Beyond Product Features Let's kick things off with a vivid example shared by an online marketing specialist during a recent interview. Picture this: you've developed the ultimate fishing lure. It's crafted with precision, boasting a carbon fiber shell and surgical stainless steel hooks. But here's the twist – nobody cares about the technical details. What truly matters is the experience you're selling. Think about it. When someone buys a fishing lure, they're not just looking to catch fish. They're seeking adventure, camaraderie, and perhaps a taste of victory. By understanding the deeper motivations of your target audience, you can transform a mundane product into an irresistible proposition. In this case, it's not about the lure itself, but the experience of being the ultimate angler – outsmarting your friends, reeling in the biggest catch, and basking in the glory of success. Cultural Nuances in Sales: Tailoring Your Message But authentic selling isn't just about crafting compelling narratives. It's also about understanding the cultural nuances and emotional triggers that drive consumer behavior. Take the example of selling to different markets, such as the UK versus the US. While Brits may downplay their achievements, Americans have a strong affinity for winning and success. By tailoring your message to resonate with the values of your target audience, you can create a deeper connection and drive greater engagement. Embracing Risk and Fearlessness: The Path to Success Authentic selling isn't without its challenges, though. As our interviewee aptly points out, it often requires stepping outside your comfort zone and taking calculated risks. Whether it's expanding your business, investing in new technologies, or challenging prevailing norms, authentic selling demands courage and conviction. It's about pushing past the boundaries of what's comfortable and embracing the unknown. Transcending Fear: Unlocking Your True Potential But perhaps the most profound insight shared during the interview is the idea of transcending the fear of failure and death. Drawing inspiration from Martin Luther King Jr.'s iconic "Mountaintop Speech," our interviewee reflects on the transformative power of fearlessness. By letting go of our insecurities and embracing our true potential, we can unlock new possibilities and achieve extraordinary success. Conclusion: The Power of Authentic Selling In conclusion, authentic selling isn't just a marketing tactic – it's a philosophy that drives meaningful change. By understanding the deeper motivations of our customers, tapping into cultural nuances, and embracing fearlessness, we can elevate our sales strategy to new heights. So the next time you're tempted to focus solely on product features, remember that authenticity is the key to unlocking the hearts and minds of your audience. Join the Authentic Selling Movement: "No Douchebag Selling" Program If you're ready to embark on your journey of authentic selling, we invite you to explore our upcoming program, "No Douchebag Selling." Designed to equip entrepreneurs with the tools and mindset needed to succeed in today's competitive landscape, this program offers practical insights and actionable strategies for authentic salesmanship. To learn more and join our community of like-minded individuals,

Authentic Selling vs. Jedi Mind Tricks -  Coach Dan Gordon Now, I've got to tell you, I said to Coach Dan Gordon, this is who we've got on the show, how I should introduce him. He said, "I want you to say the greatest fraud I've ever met,". Well, Authentic Selling is the focus of today's show, but that's clearly not the truth! Dan Gordon is an executive coach and speaker, and his mission is to raise the consciousness of bad-ass entrepreneurs all over the world. So there you go, welcome to the show Coach Dan. Good to have you here. Gratitude and Insight Thank you so much. It's a real delight. And I just so appreciate what you do, Michael, helping people really step into the things that they struggle with and look at the parts of their life and their business that they need to work on. And just by the nature of the conversations that you have, you force those thoughts. It's beautiful. Authenticity in Conversation Not a sort of soft, cuddly guy, really. I guess British people have a habit of being, you know, a little bit on the cooler side, quietly blunt, I guess in a way. So yeah, I try to keep it real and that's definitely the topic of today's conversation. Authentic Selling vs. Jedi Mind Tricks Our topic, authentic selling versus Jedi mind tricks. Really like this one because it's a huge corrective to what's going on out there. So tell me what's this all about for you. The Overused Concept of Authenticity So last year, the Miriam Webster word of the year was authentic or authenticity, which means it is a widely overused word that now has no meaning. Right. So everybody wants to be authentic. Everybody, you know, and now, you know, people are training people how to be authentic, which is insane, right? Challenges with Traditional Sales Methods When you think about selling authentically, that betrays all of the Sandler type methods, which is, you know, the customer's pain points describing your products, features, and benefits, the open, the middle, the close, all of those things that people use as leverage to sell their crap and what. What makes it so inauthentic is you are not actually engaged with your client. Embracing Authenticity in Sales And so, I love that because it's forcing people to reevaluate how they show up in a sales meeting. And the reevaluation is, I'm going to put you first, Michael, if I want you to buy my coaching, then you have to come first. Not me, not this cool thing, not your pain points, but you, what are you struggling with right now? How can I make you a better person? Whether or not you buy my services and that's what authentic selling is. Adapting Authenticity in E-commerce I mean, they often do, but they probably don't think of it as a sales conversation. If you're talking to a supplier, if you're talking to a freight manager, if you're hiring a photographer, but you know, the essence of what they do is done by a computer screen. Implementing Authenticity Online So that's a great question. I get it. I get that kind of question a lot. I don't do one on one sales. Very few people do one on one sales. What's the point of what I'm talking about? The point is in messaging. How do I reach out to you as a person? Testing Messaging through Human Interaction And so you really have to test your messaging on human beings. And I would say that my best suggestion is to go to a networking meeting, go to a chamber of commerce, go to a place where people are and talk to them about what you're selling and see how they respond to it, right? Appealing to Human Emotions You know, the kids today, they do not go for that crap. If you start doing your product qualities and your, you know, the features and benefits, they go, "Whoa, wait a second, hold on. Just talk to me." Authenticity in Pricing If you start saying, yeah, you're going to get rich. You're going to get a Tesla. You're going to get a Ferrari, instantly.

Hey folks. I want to discuss what is kind of a hard topic, which is why an e-commerce business isn't a cash cow. It's not what is advertised to be on the internet, but the good news is it could make you more money than you think, as long as you know what you're dealing with. The myth of the e-com cash cow So folks let's talk about the myth of an e-commerce business as a cash cow. There is a lot of misconception on the internet about the cash-generating potential of e-commerce ventures. I'm talking about things with physical products at their heart, and therefore inventory, which changes everything. And we need to examine this. Typical cash cow digital businesses Now let's talk about what we mean by cash cow. First of all, I'm talking really about things that produce money. In cash in other words without much capital investment. The examples that spring to mind: are coaching. I know all about that because I've been doing that online for years. The upsides: you don't need to pay much money, or even any to start, if you just use influencer platforms like podcasting as I did to start with, but you need to spend a little bit of money on a little bit of equipment- podcast, mics very, very cheap. You can do it with your phone these days. Downsides of course. You cannot just sell that easily, because it depends on your face and your brand. Also, you're trading time for money, unless you scale it up to be running a huge coaching practice. And then you're trying to scale up people. and hiring people is not easy to scale in the same way as digital systems or physical products. So it is not the easy option it might appear. But it doesn't require necessarily a lot of capital stuck in the business. Digital business models, also digital products like books, have the same characteristic. So I'm not discussing those; what I mean is an e-commerce business model is where you own the inventory that you sell. Challenge 1: Profit margins So let's talk about the challenges of e-commerce business models and what I think they are not. And what I think they are. First of all. It's not a profit monster. There are certain types of business models where you might spend some money on YouTube ads for example, and then you sell your coaching - time for money trade, but at least it's 70% profit. But you have quite healthy profit margins in that kind of business- digital product businesses, very healthy margins. Not so much with physical products. You have to buy the products. You have to ship them around, you have to store them, you have to fulfill them. And then you've got to pay for whichever platform helps you sell them. Amazon takes a 15% sales commission. Plus then you've got to pay for traffic in the form of ads to wherever you sell them, you've got to pay for ads. So the Operating costs are pretty high. The heart of the matter: capital intensity But here's the true meat of the matter. The heart of the matter is capital. If you want to have an inventory-based business, you need to think about the balance sheet. All assets are not created equal To put it simply, the assets are the things that the company owns. Most Amazon or Shopify-type businesses don't tend to own many things that unless you've been, you've got a very big business. They don't tend to own warehouses and offices unless they're really big, but they do own normally two major assets, which is cash and inventory. And if you want to have stock in inventory, you're swapping cash for inventory. Profit is not the same as cash (not even close) And here's the thing. If you increase the value of the equity in the business and assume there's no debt, that's the same as the assets in the business, you can have a paper profit. Let's say you have at the start of your trading a hundred thousand dollars in cash and zero inventory. And at the end of the year, you've turned the cash into inventory. You've turned the inventory twice.

Advertising costs on Amazon are on a ruthless upward trajectory. Feeling the pinch and worried about maintaining profitability? You're not alone. In this comprehensive guide, we'll equip you with powerful strategies to dramatically reduce your Amazon ad spend without sacrificing sales. This isn't about cutting corners or sacrificing quality. We'll show you how to optimize your advertising campaigns, leverage the power of organic ranking, and unlock conversion-boosting techniques that make your ad spend work harder for you. Ready to reclaim control of your advertising budget and fuel explosive sales growth on Amazon? Let's dive in! [00:00:00] Rule-based AI optimizes bids [00:01:10] 10K Collective Podcast Welcome [00:03:02] Travis's Amazon Journey [00:04:09] Optimize Review Funnels [00:06:01] Competing with Reviews [00:07:28] Understanding Review Funnels [00:10:08] Effective Call-to-Action [00:11:45] Valuable Bonus Items [00:12:39] Reducing Friction Levels [00:15:03] Use Helium 10 for tracking rankings. [00:15:19] Amplify bids with bid multipliers. [00:15:39] Monitor ranking until bottom of page 1. [00:15:56] Deploy multifaceted approach for ranking. [00:16:25] Reduce bids by 50% when at top. [00:16:38] Experiment with bid reductions weekly. [00:17:03] Turn off ads for well-ranked bestsellers. [00:17:27] Reduce ad spend by 10% weekly. [00:18:20] Use UGC for inexpensive creatives. [00:18:57] Use subtitles in video ads for engagement. The Ever-Rising Tide of Ad Costs Advertising costs are on an undeniable upward trajectory across platforms like Meta, Youtube, and yes, even Amazon. This trend is fueled by several factors, including: Influx of Sellers: The Amazon marketplace is teeming with new sellers, particularly from China, leading to increased competition and a surge in ad costs for coveted keywords. Amazon's Profit Motive: As a publicly traded company, Amazon prioritizes shareholder value. This often translates to higher fees for sellers, including advertising costs. They may even charge storage fees if you don't maintain sufficient inventory. The Algorithmic Squeeze: Amazon's AI-powered A9 algorithm plays a significant role in product ranking and ad placement. This can make it challenging for new entrants to gain traction without significant advertising spend. The Two-Pronged Approach to Ad Control The key to controlling your Amazon ad spend lies in a two-pronged approach: 1. Optimize for Organic Ranking: The more your products rank organically in search results, the less reliant you become on PPC (pay-per-click) advertising. While AI-driven changes might necessitate some ongoing PPC investment to maintain ranking, a strong organic foundation reduces your overall dependence on paid ads. Here are some key organic ranking optimization strategies: Keyword Research: Identify relevant, high-volume keywords that accurately describe your products. Utilize tools like Amazon Seller Central's search bar and keyword research extensions. Product Listing Optimization: Craft compelling product titles, descriptions, and bullet points rich with relevant keywords. Optimize your product images for clarity and incorporate high-quality visuals. Positive Reviews: Encourage satisfied customers to leave positive reviews. Reviews not only build trust and influence purchase decisions but also contribute to organic ranking. 2. Master the Art of Amazon Ads: While organic ranking is crucial, PPC advertising remains a vital tool for driving traffic and sales on Amazon. Here's how to optimize your Amazon ad campaigns for maximum return on investment: Dedicated Ad Management: Ideally, assign a dedicated team member or leverage specialized software to manage your Amazon ads. Software automation can often outperform humans in managing complex bidding strategies. Campaign Structure: Organize your campaigns strategically. Separate broad match, phrase match,

Imagine a thriving Amazon brand with a loyal customer base, consistently generating positive reviews. This isn't a pipe dream! Kusha Karvandi, founder of Launch Titans, a full-service digital agency specializing in Amazon and Shopify success, unveils a powerful strategy to get more Amazon reviews in 2024. Kusha's experience spans over a decade, starting in the early days of Amazon FBA when competition was less fierce. He's successfully built and exited multiple businesses, with a deep understanding of the current Amazon landscape. Here's a crucial truth Kusha reveals: most satisfied customers simply don't leave reviews organically. The challenge lies in the silent majority. Happy customers rarely take the initiative to write reviews, while disgruntled ones are far more vocal. This skews the perception of your product and can hinder sales. The solution? Building a strategic review funnel. [00:00:00] Customer Perspective Offer [00:01:10] Welcome to 10K Collective Podcast [00:03:02] Travis's Amazon Journey [00:04:09] Importance of Review Funnels [00:06:01] Competing with Reviews [00:07:28] What is a Review Funnel? [00:10:08] Enticing Call-to-Action [00:11:45] Tangible Bonus Items [00:12:39] Adjusting Friction Levels [00:15:03] Value ladder upselling strategy [00:15:24] Cost of acquisition vs. cost of goods [00:15:40] Building an email list for upsells [00:15:57] Low cost of managing email list [00:16:11] Lifetime value in Amazon vs. direct sales [00:16:28] Investment in customer list for business value [00:16:43] Building diversified assets for business sale [00:16:57] Example of a concierge card for cheaper upsell [00:17:15] NFC chip concierge card for direct communication [00:17:38] Offering extra service as a value proposition Why Reviews Matter: The Power of Social Proof Reviews are the lifeblood of trust and credibility on Amazon. Here's why getting more reviews is crucial for your success: Social Proof: Positive reviews act as social proof, influencing purchase decisions by demonstrating the value of your product to potential customers. Higher Ranking: Amazon's A9 algorithm prioritizes products with strong review profiles, boosting your organic ranking and visibility in search results. Increased Conversion Rates: Positive reviews build trust, leading to higher conversion rates and ultimately, more sales. The Review Funnel: A Systematic Approach Think of a review funnel as an inverted pyramid. At the top, you cast a wide net to capture a broad audience of potential reviewers. As they move down the funnel, you filter and qualify them, ultimately converting satisfied customers into loyal reviewers. Here's a step-by-step breakdown of how to create a high-converting review funnel: Step 1: Capture Attention with a Product Insert Low-Tech Option: Design a visually appealing card or sticker with a clear call to action (CTA) and a QR code linking to your review funnel. High-Tech Option: For a more interactive experience, consider an audio or video card embedded with an NFC chip that triggers the funnel upon contact with a smartphone. Step 2: Offer Value in Exchange for Feedback Low-Tech Option: Utilize user-friendly platforms like Typeform to create a short survey that gathers valuable customer feedback in exchange for a free gift. High-Tech Option: Invest in a custom funnel integrated with the Amazon API. This allows for automatic order ID verification, streamlining the survey and gift redemption process. Step 3: Personalize the Experience with a Targeted Offer The key to a successful review funnel lies in the incentive. Relevance is Key: Tailor your offer to your product category. For electronics, a warranty extension might be most valuable. For other products, consider a free e-book or a bonus item. Perceived Value Matters: Aim for a tangible incentive with a perceived value exceeding the actual cost.

80/20 Your Customer List So the thing I want to talk about today is that not all customers are created equal. Just like anything else in the world, especially in the world of e-commerce or any online business environment accelerates this times two, I would say times 10, there is a power law aka 80 20. So you will find, of course, like anything else that as well as products, customers obey the same kind of rules, that the top 20 per cent of your customers probably give you 80 per cent of your profit, et cetera. Small businesses fail to create customer lists So, I've just had a bit of lunch at a local greasy spoon in North London here in Kentish Town. It's a place called Troy Cafe, just to give them a shout-out. Delicious chilli con carne on a jacket potato and coffee for under 10 pounds. Very good. Now I bet anything that those guys do not have a customer list. They're a typical small business. They're working hard. They're slightly off the beaten track. So literally just off the high street here, this is the main drag. So in E-commerce equivalent would be that they do not appear on page one for their main search terms. Here's the thing. Customer lists are incredibly powerful and valuable, but that's something everyone knows. First thing, if you're not collecting customer lists, you need to do everything in your power to do that. If you sell on Amazon, obviously they are primarily Amazon's customers and it's hard to do that. There are lots of ways of doing that. I'm not going to reiterate those now. All customers are not created equal - 80/20 customer lists Like anything else in the world, especially in the world of e-commerce or any online business environment accelerates this times two, I would say times 10, there is a power law aka 80 20. Customers follow the same kind of rules, which is to say that the top 20 per cent of your customers give you 80 per cent of your profit, and so on. How to identify your best customers from a list?  Now, how do I identify the top customers in a customer list? Well, obviously how much money they spend with you is important, but there's a really old school, but really powerful formula. Very simple. But if you apply it and they do something with it, it's going to potentially transform your business. The RFM Formula It's R, F, M. R is recency, F is frequency and M is money. So the amount of money somebody spends with you is easier to track. Recency and frequency imply that you're tracking when the transactions happen and you can use various bits of software to figure this stuff out actually, I'm not going to go into the technical details. The general principle is more important because most people don't do anything about this. somebody's bought recently from you, they're much more likely to buy again, of course. Potential value vs likelihood of conversion - Money vs Recency If you want to be more refined about it, I would say the amount of money somebody spent gives you the sort of potential value as a customer, if you can persuade them to buy again. But of course, if they haven't bought from you for two years, the chance of them responding to any kind of outreach in marketing terms, whether you retarget them on Facebook all the way through to just sending them an email, is much lower. So it's less return on your effort or less probability of a conversion. Frequent customers are more valuable long-term Frequency also indicates that they might be a very valuable customer to have if they keep buying because over time the lifetime customer value probably will build. So I would say the frequency at which they buy and the money they've spent is an indication of their potential value. Recency gives conversions But recency is important. I would say rather than saying more recent customers are more likely to buy, I would say old customers you haven't bought for a while are less likely to buy. So if you've got a list of customers that's over a year old,

Imagine an Amazon business that runs like a well-oiled machine, consistently generating sales without the constant struggle for new customers. This isn't a pipe dream; it's the reality for brands that have built a perpetual sales machine. This guide will unveil the secrets used by successful e-commerce entrepreneurs to cultivate a loyal following and dominate their niche on Amazon. Forget the short-term tactics of chasing fleeting trends. Let's build a brand with staying power. [00:00:00] Main Amazon sales strategy simplification [00:01:17] Welcome to 10K Collective Podcast [00:01:46] Achievements and strategies with Travis Zigler [00:02:29] Creating a perpetual sales machine [00:04:59] Key components for perpetual sales [00:05:15] Blog posts, traffic, email capture [00:07:21] Focus on blog posts, Google ads [00:09:42] Simplified Amazon sales machine process [00:10:59] Consumer psychology and product focus [00:12:30] Retargeting for distracted consumers [00:15:02] Three mistakes causing sties [00:16:33] Building audience with advertorials [00:17:57] Increasing ad spend with sales [00:18:56] Using perpetual sales machine [00:20:05] Email for top-of-mind presence Beyond Amazon: Building a Real Brand The allure of Amazon lies in its massive customer base. However, most sellers make a crucial mistake: they focus solely on the Amazon platform, neglecting to build a brand identity outside of it. This approach creates a fragile business model vulnerable to disruptions like account suspensions or stockouts. The key lies in creating a real brand that resonates with customers and solves their problems. Successful brands aren't just "opportunity seekers" jumping on the latest trends with tools like Helium 10 or Jungle Scout. They're entrepreneurs passionate about solving real problems and building a loyal following. Why Build External Traffic? Here's the magic formula: by cultivating organic traffic to your brand outside of Amazon, you can dominate the platform itself. External traffic sources diversify your sales channels and mitigate risks associated with relying solely on Amazon. Here are some key benefits: Increased Brand Authority: External traffic establishes you as an authority in your niche, boosting your credibility and trust with potential customers. Improved Organic Ranking on Amazon: Amazon's A9 algorithm favors products with high click-through rates (CTR). External traffic drives more visitors to your listings, improving your organic ranking. Safety Net Against Disruptions: Even if you encounter issues like account suspensions or stockouts, your external audience remains engaged, allowing you to maintain sales momentum. Building Your Traffic Engine: Content is King The foundation of your perpetual sales machine is valuable content. Start by creating blog posts that function as extended advertorials. Focus on the problems your products solve, not just the products themselves. For example, if you sell eyelid wipes, your blog post might be titled "How to Get Rid of a Stye in 2 Simple Steps." The content would educate readers about styes, their causes, and effective treatments, naturally integrating your eyelid wipes as part of the solution. Strategic Use of Affiliate Links (Amazon Attribution) While Amazon's affiliate program has undergone changes, the core principle remains: you can earn commissions by directing traffic to Amazon listings through your content. Now, with Amazon Attribution clicks, you can earn back 10% on qualifying purchases within 90 days. Travis Zigler, our guide, shares his experience using attribution links. He's had instances where attribution conversions exceeded the cost of Google Ads! The Power of Google Ads: Targeting the Problem, Not Just the Product Most sellers make the mistake of targeting product-based keywords on Google Ads (e.g., "eyelid wipes"). This can be expensive, with clicks costing $1-2 each. However,

E-commerce brand owners, are you tired of pouring money into Amazon PPC ads without seeing the results you desire? If you're looking to scale your brand on a tight budget, then the 80/20 rule is your key to success. In this comprehensive guide, we'll unveil the secrets of Amazon PPC optimization using the Pareto Principle, a powerful strategy that allows you to focus on the 20% of your efforts that generate 80% of your result. [00:00:00] Helping those in need worldwide. [00:01:15] Introducing e-commerce expert Dr. Travis Zigler. [00:03:37] Journey from optometrist to entrepreneur. [00:04:48] Focus on top-performing products. [00:14:47] Sponsored products key for growth. [00:15:07] Sponsored Brand Video boosts brand, costly; Sponsored Products more economical. [00:15:42] Master Sponsored Products for PPC. [00:16:04] Amazon values conversion rate, sales velocity; prioritize high-converting keywords. [00:17:10] Apply 80/20 rule to search terms; emphasize top-performing keywords. [00:18:56] ACoS is a metric; prioritize sales, profit, TACoS. [00:21:00] High ACoS can boost rank, profit. [00:22:28] High ACoS but high conversion. [00:23:21] Focus on profit, sales, not just ACoS. [00:23:55] Prioritize profit over revenue; eliminate ineffective strategies. [00:28:00] Start with small tests; scale winners with bids, budgets. [00:32:09] Offer product variations; advertise aggressively. [00:36:45] Focus on profits, streamline operations. Who is Travis Zigler? Our guide is led by Travis Zigler, a PPC specialist with a proven track record of exceeding sales goals. Travis has a unique background in optometry, and after establishing a successful private practice, he leveraged his entrepreneurial spirit to build a thriving brand focused on dry eye relief products. Through strategic planning and a data-driven approach to PPC, Travis achieved a successful exit from his company, setting his sights on empowering other e-commerce businesses to achieve similar feats. Who is Travis Zigler? Our guide is led by Travis Zigler, a PPC specialist with a proven track record of exceeding sales goals. Travis has a unique background in optometry, and after establishing a successful private practice, he leveraged his entrepreneurial spirit to build a thriving brand focused on dry eye relief products. Through strategic planning and a data-driven approach to PPC, Travis achieved a successful exit from his company, setting his sights on empowering other e-commerce businesses to achieve similar feats. The Pareto Principle Applied to Amazon PPC The Pareto Principle, also known as the 80/20 rule, is a fundamental principle that applies to various aspects of business, including Amazon PPC. In essence, this rule states that roughly 80% of your results will come from 20% of your efforts. By identifying and focusing on the top 20% of your products, keywords, and ad campaigns that drive the most sales and conversions, you can significantly improve your PPC performance. Why Sponsored Products Should Be Your Focus Many sellers mistakenly spread themselves thin across all of Amazon's PPC ad formats. However, the Pareto Principle suggests that Sponsored Products ads should be your primary focus. Sponsored Products ads display your listings directly on Amazon product search results pages, putting your products in front of high-intent buyers who are actively searching for products like yours. This targeted approach not only increases your sales and profitability but also boosts your organic ranking by Amazon's A9 algorithm, which rewards products with a strong click-through rate and conversion rate. The 80/20 of the A9 Algorithm Understanding how the A9 algorithm prioritizes product listings is crucial for optimizing your PPC campaigns. The A9 algorithm prioritizes two key metrics: conversion rate and sales velocity. Conversion rate refers to the percentage of visitors to your product listing who make a purchase.

You've presumably at some point commuted for work or travelled for work. I certainly have. I would often do that for not a lot of money and I would do it repeatedly to earn a living. Assuming you were reliable, you were achieving a simple short-term goal: turning up at work. And yet when I look back over the preceding years or decade and the short term goals I had for my life in business, I would say, well, how come I haven't achieved those? I haven't been reliable for myself doing big stuff with big payoffs myself. And yet I've been reliable for some petty stuff for other people. Why that difference? Well, let's explore that today. The 10K Collective Mastermind Hi, I'm Michael Veazey from Amazing FBA and I'm the leader of the 10k Collective Mastermind, for private label sellers and product brand owners who sell at least half a million dollars a year or more on Amazon. Over the last five years we've had members triple their revenue in one year, grow to eight figures and one member get to a seven-figure exit. Now we're taking it to the next level. I'm excited to introduce the 10K collective Uber mastermind. It's a unique combination of peer group support in person and online and specialist coaching. If you're ready to take your business to seven figures and beyond, just go to TheAmazonmastermind.com. to find out more today. Becoming as reliable for your own short term goals as you were for others You've presumably at some point commuted for work or traveled for work. I certainly have. Imagine that we, we think back to when I would rush out of one bit of work, jump on a bike, risk death, drive, cycle through the rain- welcome to London- jump into a crowded train having hustled past the barriers and the idiots that always seem to be in the way in London and then folded my bike up, got on the train, folded it out the other end and went somewhere else. That sounds exhausting and I would often do that for not a lot of money and I would do it repeatedly to earn a living. And yet when I look back over the pre preceding years or decade and the big goals I had for my life in business, I would say, well, how come I haven't achieved those? We care about other people's opinions - use that! So first of all, I think other people is a really neglected thing in motivation. It's pretty simple, but it's really true that if you try and do stuff on your own and you haven't got anyone else involved, they don't know what you are trying to achieve and therefore you can't be seen to win, but you can't be seen to fail. And it turns out that loss aversion is a much bigger motivator for action in the day-to-day world. So if you're going to be seen by somebody who's being late at work and you think you're going to lose your source of income, i.e. your job or a piece of employment and you're going to look a professional and people are going to look down at you, you're very highly motivated to do that thing. How much work do you put into thinking how bad life's going to be if you don't achieve your business short term goals? So how can you apply that to your own business? How to get accountability I would suggest you want to make as many promises to other people as you can, and then make sure you hold yourself to them. That's the first thing. Shareholders. Customers if you're selling products on Amazon or an e-commerce site getting something out there and forcing yourself to get into action really forces you to stay in action in my experience. And of course, your own community of peers, nobody wants to look like an unsuccessful person in the community of peers. Just make sure you judge success in the right way. . Now I want to explore a couple of things as well about how I specifically would make sure that I, even though I'm not a person who's naturally on time, I would make sure I got to a train or for that matter, years before that would be driving to appointments. Extreme Short Term Goal clarity

Are you an e-commerce brand owner looking to scale your business with minimal capital? Understanding how to effectively analyze data insights can be the key to unlocking your brand's full potential. In this guide, we'll explore strategies to help you maximize your e-commerce success through actionable data insights. 00:00:00 | Introduction to Data Overwhelm 00:01:34 | Challenges of Data Overwhelm 00:03:12 |  Understanding Decision Paralysis 00:04:56 |  Importance of Defining Objectives 00:06:23 | Role of Human Intervention 00:08:45 | Analytical Framework 00:10:57 | Balancing Technology and Human Skills 00:12:45 |  Operational Design Model 00:15:44 | Value of People Skills 00:22:45 | Key Takeaways for Small Business Owners Solution: Keeping the Goals in Mind One of the most critical aspects of utilizing data insights in e-commerce is to keep your goals in mind. It's easy to get lost in the vast amount of data available and lose sight of your end state. Before diving into data analysis, it's essential to know exactly what you want to achieve and stay focused on that objective. Understanding "Capabilities" and "Capability Gaps" in Small Businesses Small businesses often face challenges with their technological capacities. They may exhaust their resources without fully understanding the problems they aim to solve. It's crucial to reverse-engineer capabilities by aligning them with capability gaps, ensuring that your technological investments address specific business needs. Data Must Be Predicated on Purpose and Goals When analyzing data, it's essential to ensure that your efforts are predicated on your business's purpose and goals. Metadata plays a crucial role in distilling vast amounts of data into usable information. By focusing on the "why" and "how" behind your data insights, you can derive actionable strategies for your e-commerce business. The Four Analytical Phases: Hindsight, Insight, Foresight, and Prescriptive Analysis Analyzing data in e-commerce involves four key phases: hindsight, insight, foresight, and prescriptive analysis. Hindsight focuses on understanding past behavior, while insight involves living through the day with lessons learned from the past. Foresight looks ahead, modeling historical data to predict future possibilities. Prescriptive analysis incorporates data to design future paths based on modeling, guiding strategic decisions. Example: Succession Planning in a Church Dr. Simmons provides an example of applying these analytical phases to succession planning in a church. By analyzing factors such as location, educational background, and requirements, Dr. Simmons predicted the viability of the church's succession plan and proposed a more sustainable alternative. Operational Design: End, Means, Ways Operational design involves defining the end goal, determining the means to achieve it, and identifying the ways to implement those means. In today's dynamic business environment, it's crucial to refine processes and make the right assumptions to navigate challenges effectively. Strategic and Analytical Thinking in the Same Space To ensure success, it's essential to have your strategist and analyst in the same room. By integrating strategic and analytical thinking, you can analyze data effectively, understand its application to your goals, and make informed decisions for your e-commerce business. Key Takeaway: Appreciate People Skills While AI and technology play crucial roles in data analysis, there's still no substitute for human logic and thinking. Appreciating people skills and integrating them with technology can lead to more effective data analysis and decision-making. Services Offered by Sixth Gear Consulting Sixth Gear Consulting offers consulting services for small businesses, including leadership coaching, executive coaching, strategic organization design, and talent management. Visit www.sixthgearconsulting.com to learn more about how Sixth Gear Consulting can hel...

In today's fast-paced world of e-commerce, data is king. However, effectively managing and leveraging this data can be daunting, especially for small business owners aiming to scale their brands with minimal capital. In this comprehensive guide, we'll explore expert data management strategies to help you navigate the challenges of data overwhelm and make informed decisions to drive your business forward. [00:00:00] Strategic Approach [00:15:17] Competitive Edge [00:16:31] Human Intervention [00:17:22] Evolution of Technology [00:21:48] Value of Human Wisdom [00:23:24] AI as a Multiplier [00:24:52] Navigating AI Integration [00:19:07] Balancing Automation and Human Touch [00:24:09] Iterative Approach [00:26:53] Role of AI in Decision-making Background Dr. Anthony Simmons, a retired Navy Captain with a distinguished 28-year career as a Surface Warfare Officer, is the founder of Sixth Gear Consulting, LLC. His extensive background includes commanding Patrol Coastal and AEGIS Destroyers, strategic planning at the Pentagon, and contributing to the Small Business Innovation Research for the Office of Naval Research in the Maritime Defense Sector. Dr. Simmons specializes in leadership performance, bridging the gap between People and Technology. Data Management Strategies | Understanding Data Overwhelm Data overwhelm is a common challenge faced by e-commerce brand owners. Dr. Simmons has experienced this firsthand, both as a combat information center officer and during his tenure at the Pentagon's acquisition branch. The sheer volume of data can lead to human saturation and decision paralysis, hindering effective decision-making and business growth. Human Saturation: Too Much Data, Not Enough Insight  Human saturation occurs when there is too much data for human management. This was evident in Dr. Simmons' experience aboard AEGIS Destroyers, where overwhelming amounts of information were coming in, rendering operators ineffective. To address this challenge, Dr. Simmons emphasizes the importance of defining clear goals and objectives to filter out superfluous data and focus on actionable insights. Decision Paralysis: The Pitfall of Diverging Data Decision paralysis occurs when big data is turned into metadata without proper organization and analysis. Without the right algorithms in place, data can become overwhelming and lead to indecision. Dr. Simmons highlights the need for a balance between convenience and effectiveness, cautioning against over-reliance on systems and tools that may not align with end goals. Data Management Strategies: A Step-by-Step Approach To overcome data overwhelm and decision paralysis, e-commerce brand owners can follow these data management strategies: Define Clear Goals and Objectives: Begin by defining your business objectives and the specific problems you want to solve with data analysis. This will help you focus on collecting and analyzing relevant data. Organize Your Data: Use advanced software tools and algorithms to organize your data into actionable insights. This will help you identify patterns, trends, and relationships that can inform your decision-making process. Implement Data Analysis Techniques: Use predictive and prescriptive analysis techniques to forecast future trends and outcomes, and recommend actions to achieve desired results. Leverage Human Intervention: While AI and analytics tools are valuable, human intervention is essential to interpret data accurately and make informed decisions. Continuously Evaluate and Adjust: Regularly review your data management strategies to ensure they align with your business goals. Be prepared to adjust your approach based on new insights and changing market conditions. Conclusion Data management is a critical aspect of scaling an e-commerce brand. By understanding the challenges of data overwhelm and decision paralysis, and implementing the right strategies,

Vehicles as a metaphor - are you using the right wealth vehicle in your business? This is Michael Veazey from Amazing FBA - today I want to continue my mindset thoughts on travel and today we're going to talk about vehicles. What can that do for us as a metaphor in business and in life? Stay tuned. The 10K Collective Mastermind Hi, I'm Michael Veazey from Amazing FBA and I'm the leader of the 10k Collective Mastermind, for private label sellers and product brand owners who sell at least half a million dollars a year or more on Amazon. Over the last five years we've had members triple their revenue in one year, grow to eight figures and one member get to a seven- figure exit. Now we're taking it to the next level. I'm excited to introduce the 10K collective Uber mastermind. It's a unique combination of peer group support in person and online and specialist coaching. If you're ready to take your business to seven figures and beyond, just click "Mastermind" to find out more today. Wealth Vehicles Hey folks, I'm currently driving a car and this makes my thoughts turn to travel and specifically within this mini-series about travel and mindset lessons in business and in life. I'm going to talk about vehicles or things that get you from A to B. Obviously, that applies in the real physical world and it applies in as a metaphor for wealth as well. I feel like the Milk Tray Man Today, I'm going to be, I'm a bit like the milk tray man. If you remember the milk tray man from the eighties showing you what age we do, then he was a man and it was a man, sorry to be sexist that he used to dress up in black and act like a secret agent jumping out of trains and into cars and scaling buildings and crushing through windows on some kind of harness and then rappelling back out the window all to deliver a milk tray and the tagline was all because the lady loves milk tray. By the way, side note what a brilliant piece of advertising that, that brand name and that product has stuck in my mind. Like a splinter because of a really powerful story, which was kind of cheesy and everyone enjoyed sharing. But I feel a bit like the milk tray man sometimes. Today is a case in point. My many actual vehicles for a journey So I'm driving a car from a rental property that I own that needed some work on today to Bristol where I am going to leave the car get on my folding bike, and get on a train. At the other end of it, I'm going to get off in London, cycle on my folding bike having unfolded it, of course, and then probably finish off with a playful bit of underground trip, or rather the other way round I suspect. And then I'll finally be staying with some friends, and then eventually tomorrow, because there's a train strike, I've got to do some work in London, and then I will eventually Jump on a bike, and then get on a train, and then get on a bike on the other end, and then I'll get back home. Whew, it's exhausting to think about it. Well is that rational? Why am I using so many vehicles? Couldn't I have just used a car? Yes or no. The right vehicle for the right purpose There's a reason for it, and sometimes there is a right vehicle for the right purpose at a certain time and place and a wrong vehicle for it. And that applies literally if you're thinking about logistics, vehicles, and, broadly speaking, forms of transport to move goods and services. It's also quite complex and I'm moving myself around in order to deliver myself one-to-one to do some services tomorrow and if you're moving bulk cargo or a lot of widgets that you're going to sell on e-commerce, the same sort of thing applies. Financial vehicles It's also a metaphor for financial vehicles which is used often as a metaphor, people talk about this, the right financial vehicle for you to increase your wealth in investing. So let's take those couple of metaphors because those are pretty productive, particularly for anyone who's in e-commerce.

Beyond the Marketplace Squeeze: Building Your Brand Empire In the e-commerce landscape, online marketplaces offer undeniable reach but come with limitations. Fierce competition, ever-increasing fees, and limited control over brand identity can stifle growth. This guide explores a powerful alternative: creating your own marketplace. Imagine fostering a community of vetted sellers offering products or services complementary to your brand. By doing so, you not only expand your reach but establish yourself as a platform leader, fostering brand loyalty and minimizing dependence on external platforms. This step-by-step guide equips you with the knowledge and tools to build a thriving marketplace from the ground up. [00:01:42] - Introduction to the discussion on marketplaces and their significance. [00:07:25] - Explanation of the chicken and egg problem in marketplace development. [00:12:04] - Discussion on the importance of building trust in a marketplace. [00:16:14] - Transition to discussing the basic steps to build a marketplace. [00:17:06] - Introduction to the discussion on different business models for marketplaces. [00:19:56] - Mention of subscription models like Amazon Prime and Costco membership. [00:21:00] - Transition to discussing key metrics for tracking marketplace success. [00:22:17] - Explanation of liquidity and match rate as important metrics. [00:23:34] - Question about the level of effort required to create a marketplace compared to selling on one. [00:25:44] - Conclusion with a focus on actionable advice for aspiring marketplace entrepreneurs. Cracking the "Chicken or the Egg" Problem: Starting with Suppliers The biggest hurdle in launching a marketplace is the classic "chicken or the egg" conundrum. Suppliers are hesitant to join a platform with no customers, and customers are hesitant to shop on a platform with no suppliers. So, how do you jumpstart your marketplace and break this cycle? Look to successful startups like DoorDash and Instacart for inspiration. DoorDash initially scraped menus from local restaurants, offering them to customers before securing partnerships with the restaurants themselves. Instacart followed a similar strategy, scraping product information from grocery store websites. These examples illustrate the power of starting with readily available data to attract buyers. Focus on Suppliers First: Define Your Niche: Don't try to be everything to everyone. Focus on a specific geographic area or a well-defined product category. This allows you to tailor your platform to the needs of a specific audience and suppliers within that space. Think of Amazon's initial focus on books. Building Local Relationships: Engaging with potential suppliers in your chosen niche can be crucial. Offerup, a successful peer-to-peer marketplace, initially struggled until they leveraged targeted advertising to a specific geographic area. By focusing on the Seattle and Belleville markets, they fostered trust and laid the groundwork for wider success. Establishing Trust: The Cornerstone of Your Marketplace Trust is paramount in any marketplace. Chinese marketplace Eachnet, a pioneer in C2C transactions, understood this well. To address concerns about product delivery, they established an escrow service, ensuring sellers received payment only after the buyer confirmed receiving the product. Building a Trustworthy Platform: Robust Security: Implement secure payment gateways, data encryption, and fraud prevention measures to protect both buyers and sellers. Transparent Policies: Clearly outline your policies on product listings, disputes, and returns. Comprehensive Review System: Encourage user reviews to build trust and help buyers make informed decisions. From Niche to Empire: Crafting Your Revenue Model There's no one-size-fits-all approach to generating revenue with your marketplace. Explore the options below to determine the best fit for your p...

The word strategy is often used and often used wrongly. And there is a mentality that I want to address today around strategy, which is that you can have your cake and eat it. As one of our famous British leaders recently said, that is never true when it comes to strategy. Stay tuned. We'll explore why and what you can do instead. The 10K Collective Mastermind Hi, I'm Michael Veazey from Amazing FBA and I'm the leader of the 10k Collective Mastermind, for private label sellers and product brand owners who sell at least half a million dollars a year or more on Amazon. Over the last five years we've had members triple their revenue in one year, grow to eight figures and one member get to a seven- figure exit. Now we're taking it to the next level. I'm excited to introduce the 10K collective Uber mastermind. It's a unique combination of peer group support in person and online and specialist coaching. If you're ready to take your business to seven figures and beyond, just go to TheAmazonmastermind.com. to find out more today. You Can NOT have your cake and eat it! Let's deal with an unpleasant reality. So one of our recent British leaders said, "I'm pro having my cake and pro eating it," which is obviously stupid because the whole point of eating a cake is you no longer have a cake. And just as a lot of deluded things came from that person. This was a delusion as well. What I am going to do is refer to an earlier British leader who said," I can only offer you blood, sweat, and tears." Now that's not quite true either. What I can offer you as a painful trade offs now in exchange for really powerful strategy and great business growth, if you are willing to embrace the fact that you can't have everything. You can have anything you want, but you can't have everything you want. Competitive strategy IS strategy So what am I talking about? Well one of the great books about strategy and competitive strategy specifically, which is most of strategy, I would argue your positioning is kind of to a degree defined by your competition, I would argue. Certainly in a very crowded market space like Amazon it's really almost literally true and pretty much true for everyone because we're all in crowded marketplaces because we all depend on either Google or Amazon or possibly Facebook or TikTok, all of which are crowded, all of which are very full of competition. So let me allay two things to start with. Competitive strategy is strategy. Strategy IS about tradeoffs And secondly Porter, Michael Porter in his book, Competitive Strategy, basically nails the fact that Strategy is about trade offs. If you have A, you don't do B. And if you have B, you don't do A, basically. A time-tested truth Now it's an old book, by the way. Some of the 70s or 80s. Examples are a bit dated, but I believe that the, the insights are very, very time tested. And that's great because time tested truths of business are not easy to find. And particularly in the digital era, things come and go very quickly. Tactics come and go, but strategic things I think are long lived and strategic truths I think are long lived truths as well. So that's the great news. First of all, if you get this stuff, right, you get the principles, right? If you get into the habits of thoughts and action, they can stick and be valuable for decades. That's the great news. The other great thing is if you are willing to make trade offs, there are great Prices at the other side of that, but let's explore why you have to make trade offs. Examples of strategic tradeoffs Premium vs mass market products Let's run a thought experiment. Let's say that you are selling a USB webcam, such as the one I'm using by Logitech. Now Logitech has built a brand, that's why I bought not one, but I had a good experience, so I bought two Logitech cameras. I may buy another one at some point. Equally, there are much cheaper webcams out there. Now, you can, if you want,

This guide kicks off with insights from Shirish Nadkarni, a serial entrepreneur, author, and advisor to startups. Having witnessed the rise of Microsoft in its early DOS days and facilitating the acquisition of Hotmail by Microsoft, Nadkarni understands the power of platform dominance. His book, "Winner Takes All," delves into this phenomenon, particularly relevant for e-commerce brands navigating the world of online marketplaces. [00:01:20] Introduction to the discussion about Amazon's evolution and impact on the marketplace. [00:03:45] Mention of Amazon's dominance in the e-commerce space and its increasing influence. [00:07:32] Discussion about Amazon's strategy of data usage and its implications for third-party sellers. [00:11:55] Mention of Amazon's expansion beyond e-commerce into various sectors like healthcare and entertainment. [00:15:13] Transition to Part 2: Focus on the experience of buying and selling within Amazon's marketplace. [00:16:23] Discussion about Amazon's acquisition strategy and its impact on smaller businesses. [00:18:02] Mention of antitrust legislation and its relevance in regulating monopolistic practices, specifically referencing diapers.com and Zappos. [00:20:03] Mention of congressional investigations into Amazon and the potential for future regulatory action. [00:22:28] Discussion about the challenges faced by third-party sellers on Amazon, including pricing pressure and brand differentiation. [00:25:37] Advice on building a marketplace and considerations for setting fees, followed by information about Sharish Nadkarni's services for entrepreneurs. Why Marketplaces Become Monopolies (and How to Leverage It) Marketplaces face a unique challenge: achieving critical mass. Both sellers and buyers need to be present for a marketplace to flourish. However, once this critical mass is achieved, a powerful force called "network effects" kicks in. Imagine Uber and Lyft in the US - many drivers use both apps, maximizing their earning potential. Similarly, a marketplace with a vast pool of sellers attracts more buyers, further attracting sellers – a self-reinforcing cycle that leads to dominance. Multi-Tenanting: Spreading Your Wings Across Marketplaces As an e-commerce brand owner, "multi-tenanting" allows you to sell on multiple marketplaces simultaneously. Think of it like Uber drivers using both Uber and Lyft. For instance, an e-commerce brand might choose to sell on Amazon, eBay, and Walmart. However, this strategy comes with its own set of challenges. Firstly, each marketplace has its own set of dynamics. Walmart, for example, limits its seller pool to around 50,000, while Amazon boasts millions. Secondly, successfully selling on a platform requires significant effort - attracting sales, navigating advertising options, and fulfilling orders. Jumping between marketplaces requires replicating this effort, potentially straining resources. Why Marketplace Pricing is Different (and How to Win) Traditional pricing theory assumes direct-to-consumer (DTC) sales, where economies of scale allow you to lower prices as you grow. However, marketplace dynamics introduce a new wrinkle. Consider the role of transaction fees. Visa, for instance, takes a cut from every transaction on a marketplace. Marketplace sellers then factor these fees and additional advertising costs into their pricing strategy. Furthermore, marketplaces like Amazon could theoretically use listing fees levied on sellers to establish loyalty programs for buyers – further influencing seller pricing strategies. How Amazon Flexes Its Muscle (and What You Can Do About It) Marketplace dominance can lead to situations where the platform itself exerts significant control. One tactic is leveraging advertising. By controlling a vast advertising network, Amazon essentially sells "sales positions" to third-party sellers, forcing them to spend more to stand out. Another tactic involves acquisitions.

Today I'm in the car driving, and my mind is turning over on lots of metaphors to do with satnavs and navigation. Where do you want to go and how are you going to get there? Very good questions for life and business. Do you have a sense of direction in business?  Hi, this is Michael Veazey from amazing FBA. So I am a driver with, I guess just over 30 years experience now. I'm an average driver , but I'm terrible at navigation. And I do think that a lack of sense of direction can be a problem in business and life as it can most clearly and obviously in the physical realm of navigation. Now if that's you, how do we, what are the problems and how do we solve them? Goldratt's 3 Questions framework  Well, a good framework, I think for solving lots of problems is Goldratt's three questions. Eliahu Goldratt wrote an amazing book called The Goal. He asked three very simple. profound questions . And my thanks to my old podcast cohost, Jason Miles of OmniRocket. If you need direct to consumer site advice, particularly based in America, then Jason and his partner, Kyle Hamer are the people to go to. So Jason put me onto the goal and The Goal has the three questions, which are: Number one, what do we want to change? Number two, what do we want to change it to? And number three, how are we going to make that change? Now, if you think about a sat nav, really it encapsulates that in a very physical form. Where do we want to go? Normally you put that in. Where are we is already answered by the GPS positioning satellites that are linked up to the satellite navigation system. And then how are we going to get there is really the question the satellite navigation answers, isn't it? It navigates you gives you the path, gives you the roads and the route. Simplify your life like a Satnav! Now let's think about this, break this down. Cause there's a pretty profound metaphor, I think. And that doesn't mean I've come up with anything clever, but it's clear. And I like clarity because real life is murky and messy and difficult. I'm driving currently to Cardiff where I years ago, I studied conducting orchestras are very, very, very complex because you have a lot of people trying to make music, at the same time as each other. You've got the whole social dynamic of a whole bunch of people. And then you've got the music itself in front of you the score, which is like as the blueprint for construction. They say architecture is frozen music and music has kind of architectural site blueprints and they're very precise things. My orchestra conducting teacher fantastic guy, lots of common sense, said," So, Mike we deal with complicated things. But our job is not to add complexity as conductors is as the leader. Musical leader. It's to simplify." And so hopefully this this metaphor like a lot of mindset metaphors is a simplification device It is of course too simple to just simply apply to life, but I think it's close enough to be pretty robust. Where are you really now?  Okay, so for somebody who hasn't got a What do I need to do? Well, first of all clarify, where are you? You may not know where you are in your life and your business. We talked before about the most people, the average person thinks they're above average. The average business owner, in my experience, thinks their business is better than it really is, as assessed by anyone who might. So you buy the business or anyone, he's got a hard nosed reason to pay money, to buy it or to invest in it. Guess what? They're going to want some proof. So I would say that the first thing to do, if you want to figure out what you're doing is you know, work out where you are. Where do you want to be? The second thing is then work out, clarify where you want to be. Now, the truth is about that. I'm not always goal oriented enough. I'm a bit more problem centric and I'm a bit more granular. So that's maybe why I deal with the problems immediately in front of me and w...