The Online Rich: Becoming an E-Commerce Entrepreneur

Episode 50! I decided to use this Episode as a PEP Talk. And I explain a concept for you to think about to show you how close you are to changing your life using Online E-Commerce Entrepreneurship. Thank you so much for being a listener! Cheers! -Rich

If you’re just starting out as an eCommerce entrepreneur, you probably don’t have much of a marketing budget. So, how do you get the most bang for your buck? Marketing Strategist Jaymie Tarshis has developed a Facebook Ads retargeting formula that helped one of her clients generate a whopping $85K in sales for their business—with an ad spend of only $6K! And you can leverage the power of the social network in the same way, BUT you have to develop a strategy in advance to generate that kind of success. On this episode of The Online Rich, Jaymie explains the power of Facebook ads in helping small businesses move forward. She speaks to the concept of retargeting, discussing how the Facebook pixel can support you in reaching shoppers who are already familiar with your products OR building a brand-new audience. Jaymie walks us through the five components of a complete Facebook ads campaign, discussing where to go for support in developing a strategy or managing your campaigns. Listen in to understand the tools available through the Ads Manager and learn to make the most of a small advertising budget with Facebook Ads!

Is Amazon still an opportunity? How does an Amazon FBA business start out and how does it mature? As my Amazon FBA Business grows, how can I protect it? Why is Jungle Scout such an important software tool?

Are you frustrated with competitors who are willing to lie, cheat and steal to win on Amazon? Is there a way to navigate the system successfully, roll with the punches, and create a business built to last? Without a doubt, Amazon is king in the eCommerce marketplace, and as aspiring online business owners, we have no choice but to understand the pros and cons of its business model and adapt accordingly. Your competitors—AmazonBasics included—may not play fair, but there are things you can do to level the playing field and grow a thriving private label business that serves markets all over the world. Today, I sit down with long-time Amazon FBA entrepreneur Bernie Thompson to chat about the highly competitive nature the platform and how his business stands out from the rest. Bernie shares his experience expanding into other countries, explaining how to navigate tax regulations and import your products for sale in Europe. I ask Bernie about the other sites where he lists his products, and he speaks to Amazon’s dominance in the realm of eCommerce. Listen in for insight around the best tools for email auto-response and sales velocity research—and learn to build a brand that will survive on Amazon for the long-term!

You don’t have to start your Amazon business all alone with your laptop, Googling the questions that come up as you go. Networking with other sellers allows you to take your business to the next level as you learn and grow from conversations in Facebook groups and online forums—or even in person at conferences. As I experience more and more success on Amazon, I am inspired to pass on what I’ve learned and help others get their own listings up and running. So, on this episode of the podcast, I’m addressing some of the common questions I receive from aspiring Amazon sellers AND sharing the latest developments in my own business. I cover listener questions around keywords, sharing my favorite resources for generating relevant keywords and the best way to weave them into a listing. I also discuss the benefits of establishing your business as an LLC and where to go for support in filing the appropriate paperwork. Finally, I offer insight into what I’m working on in my business at the moment, including an upgrade in our product packaging as well as a mid-production inspection on a new product. Listen in for advice around taking your first steps to become an Amazon seller and learn to leverage the power of networking to level up your business. If you want it badly enough, eCommerce can change your life!

Are you tired of working hard to help somebody ELSE make a lot of money? What if you worked that hard for yourself? On this episode of The Online Rich, I sit down with Chelsea Frank, the creator of Life and Limb Gel custom therapy products for insight around how she became her own boss. Chelsea explains which platforms she uses to sell her hot and cold gel packs, discussing her experience—good and bad—with Amazon specifically. We discuss the characteristics of niche products and the benefit of having a unique value proposition, and Chelsea shares her best creative marketing ideas. Listen in for Chelsea’s advice on decision-making like a boss—as a successful eCommerce entrepreneur!

How do you get more eyes on your Amazon listings? And how can you enhance those listings to take advantage of the increased exposure and boost your sales velocity? If you couldn’t go to Amazon Boost with FBA in New Orleans, I’ve got you covered. So, put on your Mardi Gras beads, and listen in as I review what I learned at the conference about reaching more potential customers and building a following all over the globe. I start by sharing what I picked up outside the workshop setting, chatting about strategy with a fellow Amazon seller who generates $600K per month with four products! From there, I cover the main ideas presented in breakout sessions on Enhanced Brand Content, global selling, and product visibility. Last but not least, I walk you through the Amazon booths I took advantage of to learn more about programs like Small & Light and Subscribe & Save. Join me on this episode of The Online Rich and find out how to leverage Amazon’s offering to get more eyes on your listings—and ultimately more sales!

In this episode, I explain why starting an e-commerce business on Amazon is a great way to start your entrepreneur journey. I also go over the topics that will be presented at the Boost with FBA Amazon Conference this week in New Orleans. Cheers!

If you’re an entrepreneur and a parent, you don’t need me to tell you that the struggle is real. How do you stay motivated when you’re sleep deprived? Keep pushing to prepare for a conference? Prioritize a growing list of things you could do to better your business? As I spend the week recovering from a family trip to South Padre, doing prep work for the Amazon Boost with FBA conference AND running my eCommerce business, the challenge lies in prioritizing the to-do list and managing my time wisely. On this episode of The Online Rich, I share my current frustration with time management, explaining the ambitious to-do list of an entrepreneur and the strategies I am using to improve my own use of time. I offer advice around doing prep work for conferences to get the most bang for your buck, making the most of your time while you’re there, and leveraging the new information to transform your business. Listen in for inspiration around building your business with a PURPOSE in mind and learn why an eCommerce venture on the Amazon platform offers the highest chance of success!

Find out How I Work From The Beach. Hear about my First E-Commerce Funnel Experiment. Getting Ready for the Amazon Conference in New Orleans (FBA Boost). And my rant on how Money DOES make you Happy! Cheers!

No matter how extraordinary the product you sell on Amazon, if shoppers cannot find it—or don’t feel a connection once they do—you simply won’t make the sales you need to have success on the platform. So, how do you work in the right keywords and phrases to draw an audience? How do you engage shoppers enough to buy your product once they’ve landed on the listing? How do you write killer sales copy that leads to consistent conversion? Today, I’m sitting down with Karon Thackston of Marketing Words to discuss all things sales copy for your Amazon listing. Karon covers keywords, explaining the best strategies for incorporating searchable words and phrases in your title, bullet points and description. She addresses keyword stuffing, offering insight around why your keywords and phrases need to be highly relevant to the precise product you’re selling. Karon also shares her take on incorporating HTML in your bullet points and using line breaks to make descriptions easier to read. Listen in for Karon’s advice on the best online keyword and optimization research tools and learn to write engaging sales copy that converts on Amazon!

Are you in the market to change your life? Want to feel fulfilled? In control of your own destiny? You are one product away. One product away from a thriving eCommerce business and the financial freedom you’ve always wanted. Today, I’m challenging you to visualize your life as an entrepreneur… I address the idea of selling products rather than time, explaining how you can scale without having to devote additional hours to your business. I also talk about the current cultural shift away from big retailers—toward smaller brands, describing how you can capitalize on this trend by getting started today. Finally, I cover stress, offering insight around the anxieties of online business and how it compares to the stress I felt working a ‘regular job.’ Listen in to understand how to mitigate the risks of becoming an eCommerce entrepreneur and learn how to serve your customers and accumulate wealth—without selling your time!

Private-label. Retail arbitrage. Wholesale purchasing. Online arbitrage. My primary focus here at The Online Rich is the private-label model because that is what I do, and it has definitely worked for me. But private-label is not the only way to make money on Amazon! In fact, Ryan Grant is leveraging several different strategies to build a successful business on the platform… But he got his start in retail arbitrage and that approach remains at the foundation of his team’s work. Today, Ryan joins me to discuss the retail arbitrage model, explaining his buying guidelines and the tools he uses to analyze potential profit. He speaks to the evolution of the Amazon platform as well as the enduring opportunity in the space. Ryan shares the most rewarding parts of owning an online business, the biggest misconceptions around selling on Amazon, and the value in networking with other sellers ON or ABOVE your level. Listen in for Ryan’s advice for aspiring entrepreneurs on ‘just in time’ learning and find out if the retail arbitrage model is right for you!

Wherever you are in your eCommerce journey, it’s valuable to hear about the experiences of other entrepreneurs who are taking steps to scale up, hone their product research skills, and take advantage of new marketing channels. We’ve reached a level of success where my partner and I are looking to take things to the next level, and that means it’s time for another session of Real Talk with Rich—so I can share what I’ve been working on lately to grow our eCommerce brand. I start with a review of Jungle Scout Pro, discussing its special features and offering my take on whether it’s worth the cost. Then I share the details of Amazon’s new Pay by Invoice for Business Buyers program, describing the pros and cons for business buyers and sellers alike. I walk you through the concept of a sales funnel and describe my experience with ClickFunnels to date. And finally, I explain our current need for $100K in capital to secure additional inventory—and what I’ve learned about the best time to borrow money for your business. Listen in and learn how to ‘go pro’ and grow your eCommerce brand!

If your eCommerce venture is doing well as a side hustle, but you haven’t been able to scale up and take your sales numbers to the next level, mastering the sales funnel may be the solution. In 2014, Julie Stoian was divorced and in debt. With three children to support and a fourth on the way, she was struggling to make ends meet and making only $20K. But Julie saw an opportunity in the world of digital marketing, and by 2016 she was making $325K. Last year, she earned a cool $1.3M. Now Julie serves as an online business strategist with expertise in online marketing. She works with Russell Brunson, the CEO of ClickFunnels, teaching the masses how to leverage sales funnels to build a loyal customer-base and change the world. She joins me to share her dramatic story, explaining how she became a mompreneur in order to build financial security for her family. Julie walks us through the principles of digital marketing, discussing the human psychology around why people buy and how to build a compelling character that consumers trust. She addresses the process of developing a sales funnel around an offer—to turn a cold lead into a loyal customer. Listen in for Julie’s insight on attaching yourself to a result and an audience (rather than a particular product) to enjoy long-term success as an eCommerce entrepreneur!

What are some Legal Considerations as you Start and Grow Your Amazon FBA Business? Should you do an LLC or Corporation? When should you get a Trademark? Should you Copyright your images? Should you try to get a Patent? Today I answer these questions and more. Also, go check out my show notes to see what kind of car I drive? Is it a Ferrari? A Labmo? Remember, a successful online business is about the Freedom, not the Flash!! Cheers! -Rich

How cool would it be to see YOUR product on a movie poster? Or in a candid photo of a celebrity posted online or in a print magazine? Without a doubt, sighting a celebrity with your product would provide an incredible marketing opportunity. And if you promote it right, that could translate into big sales numbers! Curious how exactly you get your eCommerce brand into the hands of a celebrity? Or how you capitalize on the moment when a star makes an appearance with your merch? Sarah Shaw is a serial entrepreneur and brand awareness expert. In her consulting practice, she helps aspiring entrepreneurs take a product idea from concept to reality and propel their brands into the public eye with influencer gifting. Sarah joins me this week to share the value in having your own eCommerce website in addition to listing on sites like Amazon and Etsy. She offers advice on using the right language in promotional materials and considering your ideal customer as you make marketing decisions for your business Listen in as Sarah walks us through the process of choosing, locating and sending products to celebrities—and learn how to take advantage when an influencer appears in a photo with your merch!

If you’re getting close to launching a new product on Amazon, you probably have a lot of questions: What are the best strategies for generating Amazon reviews? How important is branding? What should I do myself and what can I outsource? Do I need to set up my own website? One of my coaching clients, Gavi, stopped in to ask some questions as he prepares to launch his second listing on Amazon… So we turned on the mics. We start our conversation with a discussion of social proof, outlining the best strategies for securing reviews on the Amazon platform. Then we talk branding, discussing the importance of consistency and where to find professionals who can help design a logo—on a budget. Gavi asks about outsourcing, and we talk about what you should be doing yourself and what you can delegate as the business grows. Listen in for advice about listing on multiple channels and learn how to create and promote an eCommerce website of your own!

If you’ve been looking into eCommerce as an additional income stream, dreaming of a day when you could step away from your ‘regular job’ and run an online business on your own time and your own terms, Deacon Hayes’ story is just the inspiration you need. Deacon paid off $52K in debt in 18 months and made the successful transition from luxury wood floor salesman to online business owner, running Well Kept Wallet, a platform dedicated to helping others get their financial lives in order. On this episode of The Online Rich, Deacon walks us through his process, explaining how to design a Financial Game Plan and set intentional goals. He discusses a number of opportunities to develop additional income streams in order to pay off debt and reach your targets faster. Deacon shares the three strategies he recommends for earning passive income as well as the prospect of starting an online business with very little capital. Listen in for Deacon’s favorite money management tools and learn how you, too, can hop off that hamster wheel—and enjoy financial freedom!

Success on Amazon hinges on choosing the right first product… But with endless possibilities to choose from, it is easy to get overwhelmed. Even if you have finally narrowed it down to three or four solid ideas, which one has the best chance of being successful? I have put together a top ten list of product research parameters that will help you mitigate the risk and choose an item that has the potential to earn good money on Amazon. I start with guidelines around size, retail price and profit margin, explaining what data to look for on Jungle Scout as you think through factors like demand and competition. I discuss some of the products you should avoid out of the gate, including things that involve extra costs or red tape. Listen in for considerations around expansion and insight around differentiating yourself from the competition—and learn how to win early as a new FBA seller on Amazon!