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My Amazon Guy

Author: Steven Pope

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Seller Central Expertise. Technical how to advice to improve sales. With more than 300 brands consulted for, My Amazon Guy sees trends and speaks about how to improve traffic and conversion on your products. www.myamazonguy.com
208 Episodes
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✅ Who Should You Sell Your Amazon FBA Business to? http://amazonaggregators.com/Amazon FBA AcquirersInstitutional investors are booming the acquisition market for Amazon FBA businesses and this is the future of entrepreneurs. These Aggregators are jumping into the market with large funds bringing professionalism into the business and accelerating the success of small successful sellers by acquiring their brands and creating large and profit-making portfolio companies.We are here with a listing list of Amazon FBA business acquirers popping out in the market with their great deals, large funds, and a successful business record.Before exploring the list we must understand a few things.What are Amazon Aggregators looking for?Although every aggregator company has its own criteria, here is a general criterion your business should meet:Registered Brands: Aggregators look for brand sellers you are selling primarily your own branded/private labeled products or if you are the manufacturers. If you need a trademark, you can order one from us and complete brand registry in under 7 days.Fulfilled by Amazon: Mostly Aggregators are purchasing Fulfillment by Amazon merchants only because they do not want to deal with logistics and for the relative ease of qualifying for Prime status. Sixty-six percent of the top 10,000 Amazon sellers use FBA, according to Marketplace Pulse.Profits and Margins: Each acquirer is different but most require a minimum of $200k annual net profit*, some require $500k annual net profit*. Most say minimum 15% net margins, some will be OK with 10% net margins but not lower.Number of SKUs: More revenue fewer SKUs, for example, $1M revenue with 1-2 SKUs is more preferable than $1M sales with 50 SKUs.Sales through Amazon: Each acquirer is different, some asking for a minimum of 80% of sales through Amazon whereas some are okay with 30% approx.Loyal Customers: It is really a good sign if you have a loyal customer base. Niche: Each acquirer has a different niche interest according to their expertise.No Black Hat Tactics: You must not ever be engaged in such activity that might result in a future deactivation of your account.Not a Fad: Acquirers looking for businesses with a great future scope shouldn’t look like it will fade out with time. Why SELL your BUSINESS?Selling on Amazon can be more difficult and time-consuming for most sellers than what they were expecting. More than half of Amazon sellers are doing their business as a side hustle and 1/3rd as full-time jobs. Limited resources restrict them from expanding their business, hiring more employees, and improving their marketing strategy/funds. Not only for small sellers researchers claim that even for Good Profitable Amazon Sellers it can be very hard to manage inventory and the supply chain. On the other hand, aggregators are loaded with funds and a professional team.ThrasioWork with the fastest profitable U.S. company to ever reach a $1B valuation. Sell your business. Celebrate a lucrative exit. Continue to profit as your brand grows with Thrasio.HeyDayBuilt for sellers. They’re building the most seller-centric business on Earth. Tools, resources, capital, insights – Heyday’s here to help the world’s most ambitious sellers thrive.See more FBA Acquirers at https://myamazonguy.com/amazon-aggregators-fba-acquirers/#amazonaggregators #thrasio #heyday #perch #amazonselling #amazonseller #amazonfbaSupport the show (https://www.paypal.com/paypalme/myamazonguy)
In this Sunday rant Steven Pope is talking straight up about WTF is going on in the world. From Amazon Aggregator market forces, to Just in Time Supply Chain beind dead, to commodity prices rising so fast it's obvious we're entering hyper inflation. This is a rant from the heart of the Amazon taxi driver Steven Pope.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Sku limitations. We hope to see these go away soon, but for now it's complicated to manage. Amazon wants to be a distribution center, not a storage facility. This is why they are focussing on IPI limits. What are the principles of inventory management, what are some inventory management best practices?Adjusted Velocities to daily level.Buffer stock and seasonality.Why go from spreadsheet to sostocked.Syncing. 3rd party warehouses. Need to free time, inventory software.Most companies are going back to spreadsheets.What are some of the biggest mistakes people make in inventory management and forecasting?Not accounting for marketing plans as it relates to inventory planning.How to improve sales on Amazon:Improve bullet point in first words, "unlike other products that do XYZ, ours is better because. Sell into the objection."Chelsea Cohen is an Amazon inventory management expert and the co-founder of SoStocked.com, an Amazon inventory management software. She’s also a 7-figure Amazon seller, speaker & consultant. Her regular clients include 7 & 8-figure sellers. She has been featured on AM/PM Podcast, Seller Stories with Jungle Scout & the Amazing Summit stage, among others.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Michael Maher runs Cartology, a full service Amazon agency, and speaks to the heart of how agencies often let down clients. We dive right in on this issue. There's a lot of meat to this conversation. Michael: "We do that by translating your brand story onto Amazon in a way that engages your audience, increases awareness, and generates revenue and focuses on profitability."Michael talks agency expectations. It's always the agency's fault client expectations are not met.Amazon sellers over estimate how fast sales will come from on Amazon. It requires signficiant capital in the beginning. Amazon seller support is not trained on how to problem solve. "They are meant to be a dam, to slow the flow."Amazon is leaving a hole open for competition. They are hard to beat because they are willing to spend and spend to grow and have low prices and high expectations with consumers. But this same thing happened with eBay because they put customers before suppliers. They should be equally important. How to grow Amazon sales?Major weight to advertising. Support the show (https://www.paypal.com/paypalme/myamazonguy)
Bit by bit, Amazon sellers are eyeing the public markets. I read this article written by By Michael Waters. "Although Amazon’s third-party marketplace has been around since 2000, Amazon sellers have historically been far too small to reasonably consider going public. But as Amazon’s overall customer base ballooned this past year, so did the size of its top sellers. According to Amazon’s most recent earnings report, seller services — the amount that third-party sellers pay Amazon in commissions, fulfillment fees and so on — grew 57% year over year in 2020. Per Jungle Scout, 2% of Amazon sellers now boast lifetime profits of over $10 million. The third-party vendor Pharmapacks, for instance, brings in at least $250 million in annual sales."Read more of this article here: https://www.modernretail.co/platforms/why-amazon-brands-are-choosing-to-go-public/Support the show (https://www.paypal.com/paypalme/myamazonguy)
Robert Sperling owns East West Basics which has been sourcing on the ground in China for 22 years. So he's seen it all, and actively sourcing for large Fortune 500 companies.  He owns Abington Lane, and has been a My Amazon Guy client for nearly 3 years, and one of the most experienced sourcing people I know. holesale distribution of non-durable goods.What has changed in sourcing in the past 22 years?What are the various things that need to be set up in a sourcing operation:Boots on the groundInspectionsCommunicationFactory relationshipsManufactures are constantly looking to cut corners.Biggest sourcing mistake? Can't accept a big retailer because not making enough margins. Chose to work with less expensive factories and the factory cut a corner so bad it cost $200,000. The vase leaked purple ink into water failing a water proofing test.What types of products are you comfortable sourcing?Any consumer productsCar partsHome GoodsHow to grow Amazon sales tips:What are the competitors doing? How are their reviews?Improve a currently well selling product on Amazon so it isn't just a me too product.When you go to the Canton fares and other China fares:Talk to the manufactuers and get to know them.Most of them are trading comapnies and not factories.Visit a factory - what should you do. Harry Joiner says when you visit a factory in China it's like putting your hand into a bucket of water, when you leave the water goes right back to where it was. "Our primary company, East West Basics has been in business for 22 years. We develop and source products for many large retailers as well as wholesalers. Customers include Walmart, QVC, FTD, BBB, JCP, TJX, Ross,  Amazon, Wayfair, and others. We have our own sourcing infrastructure based in Shenzhen, China. Our full time staff of 35 people source products all over China. We also have a presence in Vietnam, and soon we will have one in Cambodia.My managing partner, who for the most part lives in China, is Taiwanese; he has set up our operation in China from its inception. By background, he is a UCLA pre-med graduate that chose the business world over medicine. Many of our seasoned staff members have been with us for 15-20 years. We do not go through middle-men or trading companies. We deal directly with all factories.We have merchandisers that focus on product development, along with a design team, as well field merchants that work directly with the factories.Our team/s are intricately involved with factory selection, price negotiations, sampling, etc. Once orders are placed, we have a detailed, and rather sophisticated PO monitoring system that spans the entire production cycle.We have a QC team - separate from the people involved in the field to insure many sets of different eyes are monitoring production prior to the final products being shipped out." - Robert Sperling.Contact Robert at sperls88@aol.com  or http://abingtonlane.com/ Support the show (https://www.paypal.com/paypalme/myamazonguy)
Ian Kaneshiro is an Amazon e-Commerce pro. Originally from Los Angeles, he now runs Seller Snap’s Sales and Customer Success team from Tel Aviv, helping professional Amazon sellers level up their repricing activities.  https://www.sellersnap.io/Should Private Laberls be Running Automated Repricing?  Yes if they want to price against competitor items on other listings.Why does min and max price settings exist? To prevent items selling at a loss.What is AI algorithmic repricing and how does it differ from rule-based. Amazon price-alerts and our experiencePotential Seller Snap solutions for private label sellers.When Ian is not helping guide sellers through their Amazon journey, Ian enjoys going on bike rides and playing ultimate frisbee.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Trevor George is the CEO of Trevco, and of the digital marketing agency Blue Wheel, one of Inc Magazine’s fastest growing private companies!  50 million dollar seller on Amazon. We talk ads and product launches! In these roles, Trevor became one of the largest 3rd party sellers on Amazon in the United States!Why is advertising crucial for growth on Amazon? https://bluewheelmedia.com/amazon-academy/search-term-isolation/What is Blue Wheel’s Search Term Isolation bidding philosophy and why does it work?Trevor is known for advancing brands in e-retail and marketplaces. He’s often featured in Business Insider, Internet Retailer, Search Engine Land, Entrepreneur Magazine, and more, and is one of the trailblazers in today’s changing e-retail landscape. Let’s give a warm welcome for Blue Wheel’s… Trevor George!Support the show (https://www.paypal.com/paypalme/myamazonguy)
Joe Cardillo quit his first job out of college after a year to start selling on Amazon. In late 2017 did $30k in sales his first month. Have since launched 3 brands and 12 products. Get 30% off Jungle Scout.Joe met Greg Mercer at Ryan Moran's Brand Builder Conference in Austin TX. "I joined the JS team shortly after, where I work in marketing since 2018. Amazon is a side hustle for me, spent ~5 hours per week on it right now. I really love the entrepreneurship mindset and talking product research/branding." Joe has launched products in baby goods, cat collars, and Apple airpods.Jungle Camp - Went to Indonesia to do a cultural get together every year to connect.Jungle Scout was the first chrome extension for product research. Jungle Scout has a supplier database using import records. You can click a sku and see unit and sales counts over time now in Seller Central. In Jungle Scout you can put your cost of goods in and other personnel costs. Jungle Scout can automate request a review button.Growth Hacks:Create  irresistible product page to improve conversion rates. Have dozens of designers create design to pick the winner.  https://99designs.com/. Target keywords with less comeptition. Blackhat tactics are dying, avoid.Create authenticity of your product.JS predictions for 2021: https://www.junglescout.com/blog/amazon-predictions/Support the show (https://www.paypal.com/paypalme/myamazonguy)
My Amazon Guy Founder Steven Pope takes your questions live and thoroughly answers what's on your mind! Support the show (https://www.paypal.com/paypalme/myamazonguy)
Dan Meadors is the cofounder of the Wholesale Formula and also has a full service Amazon agency. Join Dan's community.  We discuss how best to grow sales, avoid common sourcing mistakes, and where private label and reverse wholesale collide.How does private label and reverse wholesale work? Developing products.How do you grow sales?Do all marketing areas. Done is always better than perfect.Mistakes you've experienced or seen, that others learn from.Bought a retail arbritrage item that too many other sellers also boughtWhen doing wholesale sourcing research, find product where there is space on Amazon not being served. Find products with lack of competition. Dan started w/ RA, failed w/ PL - and discusseds the challenges that led him to reverse wholesale. What's the current business model you guys use, and how is it different than more traditional wholesale? The types of wholesale, problems with other models, how it relates to a lot of the same thing that PL sellers already do.What makes this model different than Private Label?  Cost, Speed to Market, Investment Time, Risk, Budget)Aren’t you just selling other people’s product? Dan's answer: Assets, Exclusivity, Cashflow, Monetizes A Skill You Already Have.Private label can incorporate Reverse Sourcing Wholesale into their business.Dan and Dylan are both from one of the poorest parts of the country - Southeastern Kentucky. They ended up landing pretty decent paying jobs, at least for around here and were considered to be doing really well by the standards of our area. In 2011, the CFO at Dan's company told Dan he was quitting his job. Dan couldn't believe it because he knew the CFO was making a six figure salary.. When Dan asked him why he would ever quit his job, the CFO told him he was making more money selling stuff on Amazon than he was as CFO and so he was just going to do that full time. Dan was shocked and asked him to prove it. So his CFO took him to Walmart and taught him the basics of Retail Arbitrage. That was enough for Dan and so he started pursuing the RA model for himself. He spent his nights and weekends in stores scanning or at home packing and prepping. And it worked. Within four months, he was making enough money to quit his job too. He reinvested every dollar he could back into the business and that's how he grew. By 2012, Dan had a million-dollar business. But the honest truth was that it wasn't really a "business," it was a j-o-b. It wasn't sustainable. If he wasn't working, he wasn't making money. So he had to work, and work hard, all. the. time. When Dan came to this realization that something had to change, he brought Dylan onto his team and that's when they discovered the reverse sourcing wholesale model. And once they started pursuing that method and left RA behind, they tripled the business in size in the first year to $3 million in sales. The next year, it doubled again to over $6 million in sales. And this was an actual business - a scalable, sustainable, passive income model where they didn't have to work in it for it to run like a machine. Today, Dan & Dylan work less than 4 hours per week in that business. They have totally outsourced it so that the business runs and continues to grow for them. Their business has now done more than $30 million in sales, million in profit and sold more than 500,000 products.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Andrew Morgans hosts the Startup Hustle podcast, runs Marknology, an Amazon brand accelerator, and has also bought a couple of Amazon brands himself. Andrew grew up as the son of a pastor and has done countless retail jobs hustling through his life. Andrew grew up as a red head kid in Africa, blue collar worker in a white collar job today.Definition of an entrepernuer "Have to create something out of nothing."Bought 2 small Amazon brands. Failed launching some products.Keep optimizing. Amazon is an iterative platform. Amazon is a proactive platform.Advertising is highly connected to SEO and catalog work.Conversion tip - Open to outside feedback.Wide open book. Founder of Marknology, so have lots of Amazon stories to tell. Have been working in this space for 9 years.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Izabela Hamilton immigrated from Romania and started her own business Rank Bell.  ​We delve deeply into her origin story and how she got started with Amazon. So bring the garlic!The action dictates the strategy. Built her first listing in light bulbs. Then immediately had to find people, learn logistics, and marketing. Quality control become a huge topic. Rankbell uses influencers and a network to use giveaways to propel items in a launch on Amazon.Tips:Hire a professional photographerMake an Instagram pageReach out to influencersHow to get over fear to reach out to influencers: Find small influencers with 10,000 followers. Send them free products, ask them for feedback.Give service to feel good and find hapipness!Rankbell is an Amazon concierge focused on helping small businesses reach financial freedom, no matter how big the goal! With services include listing optimization, images, and video, PPC management, social media, content marketing, press releases, and ranking services.https://rankbell.com/Support the show (https://www.paypal.com/paypalme/myamazonguy)
Living in Peru, eating juicy mangos, Daniela Bolzmann shares some basic tips to improve Amazon sales.How we create listings for Amazon in 3 simple steps.How are you going to get found on Amazon?Word Tree - great tool to get your copy started for SEO. No monthly subscriptions.Main image to get clicks3D Render might be superior to be crisp to get more clicks.Get them to buyProtips for standing out & getting more clicksMy favorite not-so-secret tool that not enough brands are using: Pickfu. Create canva render of your product and test.Bio: Daniela Bolzmann is the Founder of MindfulGoods.co, the one-stop-shop for Amazon listings done better. This female-led agency supports passionate brand builders to step up their Amazon game with done-for-you creative that makes products stand out and SELL!The mini-audit: Perfect when you need a second pair of eyes to help you decide & prioritize the most critical areas for improvement on your Amazon listings.How it Works: Share a link to your Amazon listing for Mindful Goods to review and record insights shared privately with you. See sample here.Support the show (https://www.paypal.com/paypalme/myamazonguy)
With 10-100-million jewelry skus on Amazon, it's hard to enter this market. Kristin Cherry Jackson was the first category manager of Nordstrom.com and did everything from necklaces to men's underwear. She joined Amazon and ran their jewelry category between in 2015 and 2018. So she's one of the most qualified to talk about selling jewelry on Amazon!What's the Jewelry retail landscape like, on Amazon?Billion dollar categoryEven split betwen fashion (costume jewelry) and Fine JeweleryAverage price point is giftable "cheap and cheerful"Fine jewelry requires 10 quiz to get approval. Amazon has big concern with fake jewelry. Amazon does mystery shopping in this category and they do lab testing for quality What's different about being a JEWELRY seller on Amazon, as compared to other categories?Price pointlower velocity skus on $1,000-10,000 itemsJewelry is manufactured in (big 3):IndiaChinaUSAWhat are the unique challenges faced by Jewelry sellers on Amazon?Lack of brand loyaltyCommon mistakes:Lack of marketingRequires investmentSEO in jewelry needs to be highly speciifcHard to show scale of an itemGotta think like a shopperhttps://21cjewelrysolutions.com/Kristin Cherry Jackson Bio: Fashion has always been a personal passion of mine. My professional career began with 10 years at Nordstrom, where I held roles including jewelry & accessories buyer, financial analyst, and project portfolio manager, and was tapped to serve as the category manager for Nordstrom.com’s launch. Most recently I served as Sr. Category Merchant Manager for Amazon’s US jewelry business. My strengths include strategic planning, data analysis, and challenging assumptions. I delight in helping jewelry companies maximize their online success.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Mina Elias is a multiple seven figure seller in the supplement industry, investor, Amazon PPC expert and founder of the PPC university. Mina excels at developing cutting edge supplements for different target audiences and combines his passion for supplements, his background in chemical engineering and chemistry, and his expertise in PPC to crush the competition on Amazon. His goal is to disrupt the supplement industry and make a significant positive impact by cleaning up the market and giving consumers the supplements they deserve.How did you get started on Amazon? - Chemistry background and background in MMA and supplement science. Mistakes: Hired friends instead of vetting busineseses. Need to look at Scope/Time line/measurables. Didn't do an inspection with drop test. 60/100 first items broke at warehouse.Big wins:Networking with other 7-8 figure Amazon sellers. Hustler networking non-stop whenever presentations aren't going on at big conferences.Understanding the buyer psychology.PPC on page 2-3 - higher buyer intent, lower bids."You will never fail if you don't quit."What gives you an edge on Amazon? What's next for the Egyptian Prescription (Nuro)Free PPC Course: ThePPCUniveristy.comFacebook: https://www.facebook.com/mina.elias.7/IG: https://www.instagram.com/egyptian_prescription_elias/LinkedIn: https://www.linkedin.com/in/mina-elias-52313772/YouTube Channel: https://www.youtube.com/channel/UCrbS0KD_OE2516ZLut1VYGwSupport the show (https://www.paypal.com/paypalme/myamazonguy)
Just a short public service announcement that if your advertising payments get delayed, new credit card, delayed payments, or maxed out, your ads can offline for up to 7 days! Be careful. One solution is move off of paying for ads by credit card into paying by account balance out of Seller Central.Support the show (https://www.paypal.com/paypalme/myamazonguy)
"If you're selling something, you can follow Jeff Bezos around the globe." Can't hire for the Amazon skillset right now. What is the magntidue of the boom that is going on?"With over 20 years of experience working with ad agencies, Chris has worked across most industries and brand categories. As founder of nReach.com, Chris matches Amazon sellers with trusted resources. nReach has vetted agencies, firms, consultants, trainers and recruiters - from advertising to accounting, logistics to legal issues, hiring and training employees and more. We are the experts on Amazon expertise." - Chris Fryburger https://nreach.com/ PBS Documentary on Amazon Empire: https://www.pbs.org/wgbh/frontline/film/amazon-empire/Lack proper support for sellers, development of software. "In a way Amazon doesn't care, they are busy consuming the earth. They want to build an empire to get humanity off the rock."For a seller, what does the Amazon Marketplace landscape look like today?Amazon Pantry got cancelled.- how to choose an Amazon agency - considerations etc- what does nReach do?Ask me 3 questions you would ask an agency when you consider whether you want to advocate for them as a matchmaker. Lanscape changesWhat are things brands need to look for today?How to go from 30 person agency to 10,000 person agency?Book of hours. When you book business of 100-million dollars. That's when you are a large agency will come and acquire you.Dot com boom took 10 years to get going. Don't sell right now. Pattern is going to have 1-billion in revenue before anyone else.Embrace Amazon, do more Amazon.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Global Wired Advisors is a leading Digital Investment Bank focused on optimizing the business sale process.Who are the buyers now and who are the buyers tomorrow?What is the difference between a listing broker vs a Professional M&A Advisor?2021 – what happens next with M&A in the amazon eco system?Sale side engagement: Growth is strong, EIBTA is at a mark 1.5-mil, growth on a vertical.New capital flooding into the space that needs operating experience.  Getting more complex, more capital pouring in. Put on a financial lense.Brands win on price and are commodities, or you win on innovation. Innovation drives better brand.The days of first generation guys who built Amazon business 4-5 days ago by himself is gone. Common mistakes: Don't understand your financial numbers. Not knowing how to read your data. 3 Things to do to help your business today:Understand your financialsKnow your marketingWho do you want to be when you grow up? Product focus. Roadmap.Support the show (https://www.paypal.com/paypalme/myamazonguy)
Rob Stanley and Donald Henig join me from Accrue Me  to talk about better ways to raise capital to grow on Amazon. They also teach some great bestBefore we talk AccrueMe, let's talk your background.  Don I understand you have some Hollywood history and a Broadway play? Don helped finance Rock of Ages and worked with Tom Cruise, one of his funnest investment.Rob what business did you have in the past you sold and did I hear that you had 60+ million views on your YouTube channel? Rob - did the first take apart of an iphone on YouTube. Under company Direct Fix.What is 1 thing Amazon sellers can do today to grow their sales?Do your own research. Don't just jump into something you don't know. Learn the process, do a smaller investment when starting.Hustle - things are not simple.  Do 3 things before Noon.  Reference to "the ONE thing" Mistakes Amaozn Sellers make with financials:Competitors show up out of no where. Black Swan events. Not calculating profits correctly.  Gotta factor everything in.AccrueMe is an Amazon funding investor who shares in profits with you as your business succeeds. What makes AccrueMe different than other Amazon funding is the profit share vs monthly loay payments.Is Amazon becoming Alibab light?If doing a tech product, gotta invest in something new, newly invented.Support the show (https://www.paypal.com/paypalme/myamazonguy)
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