EYL #78 Million While You’re Young feat. Joshua Crisp

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top requested for individuals and industries. So yeah, it's crazy. So Amazon FBA is huge. There's there's tons thousands of sellers on Amazon, and what FBA stands for is fulfilled by Amazon. So it's the whole industry of people that work as middleman, for lack of a better way, work to buy products and then sell it on Amazon. But they don't keep any merchandise or any products on them because it's all shipped from different locations to Amazon's warehouses.

They have over one hundred warehouses and throughout the America and all over the world, and then it's shipped to the actual people that buy it. So it's a very interesting business model. So that's something I actually learned about very recently, and it's very lucrative. I found out so people he was asking for us to cover it, and then people was asking for Joshua and Chris. I kept handing his name I went to mister Graham. He got

Lamborghinis and helicopters and all kinds of stuff. Rolexes. Yeah, he's living a life. So you know, it was just a perfect match. So we reached out to him and he was real, real cool about it. He said, yeah, I come on, So without further ado, Josh, pleasure to have you.

trips to Brazil. But it wasn't always like that. And I know I was watching some of your YouTube clips and you were saying that you come from humble beginnings. He was actually working I believe, like the overnight.

talking about it because I remember vividly. The reason why I go so hard today is because I remember vividly sleeping on that air mattress in that one bedroom apartment, you know, volunteering at the Salvation Army for for can goods and for bread for my family, and you know, volunteering at the Center Township, literally pressure washing gum off the sidewalk at the Center Hall for vouchers to pay

my rent. So, like, I get a little anxiety when you talk about it because I remember that, and I always made a vow to myself I would never forget where I was. That way, when I get where I am that I always be grateful and humble. So it's just like bringing that back is like flashback, like a little PTSD but back in the day, Like I always

had a like a hustle ambition about me. Like even when I was young and in school, I used to hustle candy, chips, little bags and chips, all types of stuff to just hustle coming up from you know where I was at and the way that I came up, and I just always loved hustling, Like I was selling baseball cards, candy, like anything right, and where I was at, you know, I was around the wrong crowd and stuff. And back then there's not much that you could do

to make money. So I was always trying to find ways to make money, and I was around the wrong crowd, and you know, I ended up even felling at the age of eighteen, like I was a high school dropout. I was raised by a single mother at the time we were struggling. I was like my mind wasn't on school. It was on like how can I help my mom out? How can I provide? So you know, I ended up making some wrong decisions and you know, becoming a fellon

at an early age and had multiple children. So I say that to say, like I had nothing else that I could do. So at that age, I was working for a temp agent called Spartan Staffing for a company called Finitech and I would literally handstort through trash for bare minimum wage. That's why, like if you guys see like the podcast or the YouTube, it's the story of seven twenty five to seven figures. I was literally making

minimum wage. And I met my wife who we went to school with, but we really did know each other in school. And I met my wife through a mutual friend and I would go to pick her up and just go to see her on her lunch. And her boss was an older gentleman right, and he was always reading old school, just always reading the newspaper, always online,

just reading news articles. And I would just explain to him like yo, like I want to own a business like you, and I want to be able, like this is where I'm at, and I know that you know, my current situation, you know, doesn't have to be my final destination. I want to do something like you, like own a business. So he ended up being like my first mentor. I didn't even know what a mentor. I was like, he's an old head. He's got a business. Even though he's not rich, he doesn't have to work

for someone else. So I was always talking to him, and he was always reading the newspaper, and he was talking about Amazon, like I think e commerce is the new wave of the future. This is in twenty fourteen, so this is like six years ago. And he was talking about Jeff Bezos and what he was doing and how he thinks this is going to be the wave. And he was just always just putting it in my ear.

And you know how I was trying to do so many different things, trying to do all these side hustles and stuff to make money because I was working third shift seven pm to three am. I didn't get to see my family. So I was trying to hustle stuff. I was selling clothing, I was cutting grass, I was doing whatever, like I tried to start a long care company, like anything I could do, just to hustle to make some money. That's all I knew. And he told me about this Amazon thing, and I really dived in. Like

I didn't even have a computer. I would walk to the library to do research and the rest is history. Like I learned about Amazon, I tried, I tried, I tried, I kept failing, And after the three failed products, the fourth one was a home run product. It changed my life. So that's like a whole, like three years story, like in like five minutes, but that's how it started. Man.

I was hustling stuff. So when I was going going online trying to find ways to make money, I found out about arbitrage, which is another way you can sell online, which is where you take brand name products that already exist, large brand name products, you buy them at a discounted price.

So if they're on sale or they're at the thrift store or something like that, and they're below MSRP, which is manufactured suggested retail pricing, you buy it at that discount and you sell it at full price and you keep the difference. So I was already doing that. I was taking my little bit of money and I was going to the Salvation Army and trying to find designer clothing, and I was reselling it on eBay for that full markup.

And I was doing the same with Amazon. I was trying to find stuff online discounts coupons and buy it on sale and sell it at full price and keep the difference. So when he told me about Amazon and I started researching and learning about Amazon, I learned about arbitrage, and I knew that you could do it on Amazon.

But that was like a hustle. I wanted a real business that was going to work for me, because my mentor always told me that the true key to success is to have your money work for you without you working for it. Like he told me, like, you got to eliminate the hustle mentality, like, of course you got to hustle to get things started, but the end you should have the end in mind in the beginning, and the end is to have your business work for you

without you working for it. He was always telling me about less touches and to work on your business, not for your business. So when I was looking at these different methods, I was like, I'm already doing this and I'm still hustling stuff and it's not sustainable. Like at that time, I didn't know what sustainable was. But he would break things down to me, like, you need something that you can sell over and over and over again. What you're doing is making you some fast cash. But

you can't find these clothes on sale. You can't find these products on sale all the time. So when looking at these different methods and stuff in business, I said, you know what, like the light really the light bulb really went off. I'm like these large brands like beat by Dre or Apple, these large brands are finding products that have demand that people need that they're buying every single day, irregardless of the day, the month, the age, the gender, and they're using Amazon to sell it. Right.

They don't need a physical store. You you don't need to do this. You don't need to make some special product. And there's products that people are gonna continuously need. So that's when I learned the difference between the two and I dove in to FBA, which is private label, so you can sell on Amazon arbitrage, private label, or wholesale. These are different business strategies, but the strategy that I actually sell right the business model is called private labeling.

So instead of selling other people's products, large brand name products, we find products that people want that have high demand, low competition, and we create our own brands and then we sell them. So that's what I specifically do for sure.

where the FBA kicks and the fulfillment by Amazon. Once Amazon receives that product in their warehouse, they're gonna facilitate it, but then they're going to disperse it to other Amazon warehouses. And that's how they can ship products, and it can be Prime eligible, which like eighty percent high eighty percent of everybody who shops on Amazon or Prime members, so over one hundred and fifty million Prime members in the US.

And basically that means whenever we go online on Amazon and shop, we get our products to our doorsteps in two days. So Amazon facilitates it, disperses it to other Amazon locations, and then when consumers people like me and you, go buy products online, Amazon picks it, They pack it, they wrap it, use their own boxes, their own labels, their own workforce. You know, it's under their warehouse, and

then they ship it directly to customers. And if we get it and we're like, yo, this isn't what we wanted, or you know, it was warehouse damaged, or they just decided they don't want it anymore. Amazon even handles the customer service. So literally all we do is we find the products, we find the supplier, and we manage our inventory in our advertising, which is all done from the seller central portal, which Amazon created, and that's like the bird's eye view of how the whole system works.

a licensee. So we would find a product that people have a demand for, that people are going to use every single day, irregardless of where they live, how old they are, gender, et cetera. And then we would create our own brand, so now it would be private labeled by our brand. We would put our brand on it, we would ship it directly to Amazon and they do the rest. See what like a lot of people don't know, Like when you think of like when you need to blow your nose, you say, hey, can you pass me

that Kleenex? Right? Kleenex is a brand. The name of the product is tissue, right, So that and that's like brand note a writing. That's what we do is we try to become APEX predators for these different categories, saying like when you get out the shower, use a Q tip, Right, it's actually a cotton swab. Q Tip's the brand name. It's a private label brand name. So we find these products that people need and we try to become household names. We just find ways to differentiate them and prove them

and to gain market share through differentiating the products. And that's what we do.

free tool. Type in the name of your product and you can look at a historical chart, so it'll show you, like, for the last five years, ten years, has this product been selling every day? So once you identify it's going to sell every single day, because that's what we want. We don't want to hit or miss. We want something that's going to make money every single day. After we knock out the trending, then we look at the seasonality

so we can go on Google Trends again. If it's only selling towards October like pumpkin carving kit, or November and December like Christmas lights, then it's a seasonal product. We don't want that. We want January through December. So after we do these little things to verify and validate that product, we go to ali Baba, which is where we find the suppliers. It's free to use ali Baba.

You don't need any type of special account nothing like that, and we're gonna go and type in the name of our product, so just we would type in lent roller into ali Baba, it's gonna show all these manufacturers. We want to reach out to the manufacturer and we want to do our due diligence and make sure that they're one hundred. So how long have they been in business, how many employees do they have, what is their gross

annual revenue, how many star ratings do they have. Look at them on Better Business Bureau and prevet them to make sure that they're legit. And then that's where you do your negotiating. Once you come to a conclusion on the price, you guys agree on a price, you found a manufacturer, you're gonna give them thirty percent down on the product, so that starts and initiates the manufacturing. Once

the manufacturing's done, you pay the rest. Once you pay the rest, they're gonna go ahead and ship the product directly to Amazon, so they're gonna handle getting it through customs. They're gonna find the freight forward or everything for you. It's gonna be shipped directly overseas if you're using a China supplier and be checked in by Amazon. If you're using US supplier, then it's from the supplier's warehouse directly

to Amazon. Then Amazon checks it in and you go back to that other process, right they pick it, packet, ship it, handle returns.

If you go and put a product in it, it'll tell you the first time the product showed up, how long it's been around, how many people on Google are going to type for this product. And the reason why we use Google Trends is because Amazon is a search engine just like Google, and Google's the largest search engine. So even though it's not Amazon direct metrics, it's very similar and very close because Google is a huge search engine.

So we go and we find that data from Google Trends, and that's how we find out, Hey, this products selling, you know, twelve months out the year. This product has depth of market, meaning it didn't just spike like the fidget spinner. Like if you go and type this product and you're going to see for the last ten years, it's been selling every single day. It's been selling every single month. So we want to see a nice horizontal chart when we look for products that have high demand

low competition. There's no exact metric that's going to say like, hey, this product has high demand, low competition. What we want to look for is we want to go directly to Amazon and type in the name of the product, and when we're looking at all the different sellers, we want to see how many of those sellers have under one hundred reviews, have under two hundred reviews that are still selling.

You know, ten plus units a day. If you're selling ten plus units a day, that's three hundred units a month. So that's like the bare minimum metric I look for. So that would equal low competition, and that's how we identify if it has high dead man low competition. Right. Another way is there's something called BSRO, which stands for best seller Ranking. If you're on an Amazon listing and you scroll down, you'll actually see category and then subcategory.

So category may be home products, subcategory may be lent roller, right, and then it'll have a number next to it. That's the BSR Bestseller Ranking. So that's based out of a million out of let's just say there's a million sellers. It's based out of all million sellers. So we look at that listing and it's number ten. That's one of the top selling products. So we'll look at that competitor.

We'll look at what they're selling, how many units they're selling, to make, you know, to make a statement as to does this product have high demand low competition.

x Y and Z lint rollers. You put it on Amazon, and then they buy it from Amazon, so you never actually get receipt of the product. It goes to Amazon's website directly from the warehouse.

star rating or whatever. And it's a variety of different products like that, like lint rollers, those things that you like stuff into your shoe to like form your shoe, nail clippers. Like, there's all kinds of stuff that's just really nondescript. A couple of weeks ago, even toilet paper, when nobody could buy toilet paper. People's going on Amazon and buy toilet paper. You're not really tripping off of like it gotta be Sherman. It's like at this point,

you just get whatever you can get. So, now that I'm thinking about it, the more and more I think about it, I just think of different nondescript products. That doesn't really matter what the name of it is because nobody ever even knows the name of these products. It's interested. I never thought about that before. So this is crazy. So how much money can you actually make in this business? Because now I'm actually interested? This is extremely interesting. How

much money can you make on average? I know it probably varies, but on average, how much money can you make? I'm interested?

the product, depends on the time of the year. Towards the end of the year, you know, price is going to be a little bit higher, on logistics, on fulfillment fees, just everything. But typically we like to see between thirty and fifty percent profit margin. This is after we buy our product, after which is the cog or cost of goods, after we ship our product, which is logistics, after Amazon stores our product, because we're paying fees, after we sell

a product, they pick it, they use everything. After everything's said and done, we want to make thirty to fifty percent profit. So if we're selling a product for twenty bucks, we want to keep six dollars. And if you could be around thirty three percent, which is right around that bare minimum number, every three units you sell, you're doubling your money. So that's how you can really, you know, start to grow and scale.

facilitating the products. That's the referral fee and everything. And like I said, on top of their fee and the product costs and the shipping and the advertising and everything else, we still want to make that thirty to fifty percent profit margin because we're going directly to the manufacturer. We're not going to a middleman. We're not going to someone who's wholesaling these products. We're not going and buying products at a discounted rate. We're going directly to the place

where they manufacture it, where the large brands go. We're going where Nike goes, We're going where beats by dre goes, We're going with all the top guys go, and we're getting it manufactured. So that's how we make our money, and that's how we get our margin where it needs to be.

You might buy one hundred lint rollers.

cheaper ship ship, cheaper to facilitate number one. Number two, The reason why this is a beautiful product is because this is a usable product. So I like consumable products, usable products in giftable products because people continuously use them. So if I buy, like let's just say this desk that my computer's setting on, I only need that once and that's it said and done. This lent roller, once you run out of the tape, you might buy the lent roller set, but once you run out of the tape,

you need the tape again. Or if we have a giftable product that can be gifted for a man or a woman, guess what, there's birthdays, Father's Day, Mother's Day, Valentine's Day, graduation. They're constantly being given. Another example is supplements. Supplements are very small, very cheap to make, very small, very cheap to ship, very cheap to fulfill, and guess what, at the end of the thirty days, you need it again. So you can actually have a subscribe and save, meaning

it's a continuity package. People order it and they get it every single month. So some of the products, I look like I'm in the beauty really big, and I'm in office in office products very big, because these are products that you constantly use that you need to reorder. So I'm constantly thinking, like, we don't want a one

night stand with our customers, we want the marriage. And so many people focus on that one night stand, Like, how can I make the most amount of money on the first touch, or what's the product that people were gonna buy a lot of on that first touch. I'm thinking down the road, what's a product that you know, I may not crush it on the first touch, but they're gonna be locked in and we're gonna have a marriage. They're gonna need it every single month for the next year,

the next two years, next three years. And that's something like amateurs they monetize the front, and experts in this business they monetize the back. They don't focus on the one night stand. It's that marriage.

thought about it, but it's like makes complete sense. Like nobody ever who looks at the brand name of a linp.

it's the name of the brand. So you want to become a category king, like Apple is a category king. Beats by Dre is a category king, right, So that's that's basically all they're doing. Like if you look on if you look on the bottom of an Apple product, it says made in China. You look on the back of these made in China. So they're basically finding products that people need. Everybody needs to listen to music, everybody needs to clean their ears, and they're slapping their brand

on it. Right now, not everybody has a huge brand like Dre. But if you create a good product, good customer service, you can become a category king because you know, Beyonce is not going to go drop some Q tips right, Like I sell a lot of office office products. I'm crushing it because there's no huge brand that's taking it on. Like you're not going to see jay Z, you know, shooting or Kanye doing a line of binder clips, you

know what I mean, or three ring binders. So if you go in there and then you serve these people and you're making sure that you're reading the reviews of the competitors, and you're making it a better product, you're making it a more affordable product, and you're doing all these things. Now you become the category king and people are like, I want such and such, which is your brand? So that's what we do. And it's like it's the

most sustainable business model. Like people ask me all the time, like, yo, is Amazon dead? Like so many people are starting to sell on Amazon? Is Amazon dead? As this saturated? Can you still sell? I'm like, let's forget about Amazon, which is the largest company in the world. The founder is the richest man alive. Let's set all that aside. What is selling on Amazon? What is private label products. What is this right, there's a demand. You need to hear

your music, so there's a demand for headphones. I have the supply, supply and demand. If you go back to the Renaissance period when there was castles and horses and sword fighting, knights needed swords, so they went to a blacksmith. The blacksmith made the sword. They had the demand, there was a supply, and they exchanged rather be coins or they boughtered, so it was just a direct exchange of

supply and demand. So now times have changed and now we have computers, smartphones, tablets, and when we need something, we go to the market, which is Amazon. Amazon facilitates everything. They have everything, any and every product you can think of, basically accept cars, which soon they're working on that, and we just go buy what we want and boom, it's to our house two days later. So when people ask me like is it dead, I'm like, no, it's not dead.

This supply and demand has always existed. There's always been a need for items, and this is just the most relevant, most up to date, most user friendly, and effective way to purchase products. Like even during a pandemic, if you need something and you don't want to go to the store. You can't go to the store, you go online. Less than five minutes is bought, and then less than two days is to your doorstep.

Essentially you're a private label company, right, And it's like the only difference is that, like a Beats by Dre has celebrities that endorse the product, and they have doctor Dre's name on it, and you know, all of these different things. It's a billion dollar company now, but in the essence, the core business model, especially at the beginning stages, i'm sure, is kind of the same thing. So that's

that's really it's crazy. That's interesting if you really think about it, everybody's a private label.

So that's strategy number two. And then there's strategy number three. People call private labeling, which is what I just explained, right, But if you think about it, the distributor, the wholesaler who's wholesaling you the product so you can become a distributor, has a private label product that you're becoming a distributor of. And if we are bitrage products where we go buy private label products of large brands at a discounted price and resell it at that MSRP and keep the difference,

what are we doing. It's just a different form of private labeling. So what we're doing is we're cutting out the middleman. We're not going to a wholesaler and becoming a distributor. We're not hoping that we find products at a discounted price and sell it for that MSRP. We're just finding the products that the big guys need or big guys are selling. We're making our own sending it

direct to consumer, and we're making all the profits. Like so many people say, like I don't want to get started with headphones because Beats by Dre are the best. Beats by Dre are not the best or the well known, they're the most well known. You can go directly to the same factory and make the same headset more affordable and actually improve it and still get sells, and still get sells. Like I'm competing with Amazon, I'm competing with some of the largest companies in the world, and people

have this misconception I can't compete with them. Why not Adidas competes with Nike. Same stuff, same supplier, made in the same country, made out of the same fabric, different brands, different uses. So what I do is I literally look at these products. What is the pros, what is the cons what people love? I don't change what people hate.

I implement immediately. And because I'm such a small company and I'm so hands on as a private label seller, we can dive deep and become obsessed with making this product the best that it can be. You know, once you have a product that's crushing it. Even though they have huge budgets, huge teams, they're on research and development for more products, they're not worried about making this the best of the best. So like when your hands on

and you become obsessed, it's all your money. You can literally dive in and make this thing, you know, make this thing great. And that's what I do. Like if you look at Peter Tiel, the co founder of PayPal, right with Elon Musk, and they asked him like, how did you revolutionize the payment processor industry? And he said, dominate the sector, control the space. So instead of going wide, I'm going small. I'm going narrow. I'm focusing on that

one thing. Instead of hundreds of SKUs, I have only a dozen skews, but those dozen SKUs are household names. I'm trying to dominate the sector and control the space, like I explained, like tissue paper with Kleenex or Q tips with cotton swabs, they dominate that sector. And then zig Zigler, one of the best marketers alive, he said, when the market is zigs uzag, so I'm doing the complete opposite. People are racing down to the bottom trying

to be competitive with their pricing. My pricing is higher and I'm selling more and making more money. Why well, why is Apple one of the most commonly purchased consumer electronics products and it's sixty to eighty percent higher than HP, Dell and all the other competitors. Why because the consumer product experience is that much better. The quality and the product is that much better. The customer buying experience is that much better, The customer support is that much better,

The packaging is that much better. So I always tell my students and people who I'm helping, when you're thinking about products, when you're thinking about product packaging, when you're thinking about customer experience, what would Apple do? You know? Like the WWJD, what would Jesus do? What would Apple do? And if you follow their entire model you can't lose.

fifty percent off. I'm just throwing something out there. I'm gonna go buy ten of these, wait till Black Friday's done, and sell them at MSRP, which is manufacturer suggested retail pricing, and I'm gonna keep the difference. Wholesale is where I go to a private label company, Like let's say that I got this brand and I'm crushing it, and you wholesale and you want to add to your catalog. You come to me like, yo, I want to buy ten thousand of them units and be able to sell it

under your brand. You're not creating your own brand, You're just asking for a licensee agreement. So now you have the rights to resell my product, and I'm giving you a little bit of love. And that cushion in the middle is what you make. So now you're the middleman, private label, You're the plug. You're going right just like Frank Lucas did, you going right to the jungle. You're getting the stuff there, You're stamping it with your logo, and you sit in there write to Amazon you.

make one hundred thousand dollars a month? Not to say it's gonna make one hundred thousand dollars a month, like as soon as you get in, but I just want to know that I could potentially make one hundred thousand dollars a month. If not, feel like I'm wasting my time. It's just my own personal take on it. So that's how I gauge anything. It's like, is it able for me to make one hundred thousand dollars a month in it, So being a seller on Amazon one hundred thousand dollars

a month, is that reachable? And if so, like what does it take to make one hundred thousand dollars a month selling products on Amazon?

need nine more of those products. Or you break it down, how many units do I have to sell per day of one product? And when you go and do the research inside the software, there's tons of different softwares where you can find these products. You just go and you input that data. It's hard to do it without showing you guys. But if you need to sell one hundred units a day at ten dollars profit to make one

thousand dollars a day, that's thirty thousand a month. You go and say, hey, I want to find a product that is selling x amount per day, x amount of units, x amount of profit, and then you just reverse engineering. Right, success is math, You just break it down. It's that simple, all right.

they try to lead with emotion, not with data. Perfect example, men that are into fitness, they always want to launch the next supplement, the next workout gear, so on and so forth. Women that are into beauty they want to be the next Kylie Jenner, And even though they're passionate about it and they love it, that's not the smartest,

most advantageous product to launch. So I always tell people just start with an open slate, do the product research, because some of the most profitable products that you're going to make a killing off of are products like this that you would have never in a million years thought about launching, or you're not passionate about, but they're making all the money. So I always tell people lead by data, not by emotion. So, yeah, you want to get create

your Amazon Seller account. You want to start with an individual account. It's absolutely free. We don't change that by clicking a button to professional account until we have our products actually being checked in. Because if you have a professional account, it's thirty nine to ninety nine a month. We don't want to pay that money until we have products live. Number two is we want to get right into product research. Just the most important aspect of the

entire business. We want to find these products that are going to sell twenty four to seven three sixty five. We want to find these products that are not seasonal products meaning they're going to sell twenty four to seven three sixty five, that are not trending, meaning that it has depth of market. If there's volatility or there's no sustainable track record of sales, that's risky. We don't want risk. We want to make a lot of money. And again we go to Google trends for both of those, a

free resource. Once we identify all those things, we go to the supplier. We find the supplier. We want to make sure that we're going to be able to make that margin. So we're going to use a free tool called the FBA calculator. It's a free tool that Amazon

owns fbacalculator dot com. We're going to put in how much is the product selling for, how much are we going to get it from the supplier, and all the other fees associated with that, and it's going to spit out the profit margin after Amazon takes to their piece of the pie. So if it's below thirty percent, we need to increase the price or decrease the purchase cost, right, So by doing that we can manipulate and get that profit margin to where we want to be. The goal

is thirty percent bare minimum, thirty three percent. Every three products you sell, you double your money. So if you put ten thousand into product and you're at thirty three percent every three products, you're flipping that money, right. So that's the whole goal is to really just scale this thing.

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That's one strategy. The more sustainable strategy that I recommend is the private label. So we do a catalog. So if we launch this product and it's in a specific category, we want to launch other relevant products to this catalog and create our own catalog. And the reason why I say that first product is it's downhill from there is because we already have the plug. We already have the suppliers.

So after that thing's up and rolling and it's making us money twenty four seven, three sixty five, we go to the supplier and say, hey, send me your catalog of products and what other Amazon sellers are selling, and we go through it and we do our research and they already shaved time off the hourglass. So then we find another product and we just rent and repeat, and you keep stacking products and that's how you scale this thing.

twelve dollars. But what I usually tell people when they're starting out is to start with no less than one thousand dollars. Have one thousand dollars that you can allocate directly to your inventory. Now, some people may say, like, hey, I was watching on YouTube and reading blogs and stuff, and they're saying like three to ten thousand to start your first product. How can I start with only one thousand? What I do with the AMC formula, what I teach

people is how to micro launch products. So logically, what you would do is find out how many units you're going to sell per month. If you anticipate that you're going to sell one thousand units a month and your unit costs three dollars, that's a three thousand dollars launch because you don't want to run out of inventory. But what I've learned through trial and error my own brand and through helping you know, thousands of people around the world.

Is that there's no software that's one hundred percent accurate, and there's nothing like actual factual buyer data directly from Amazon. So we don't put all of our eggs in one basket and launch three thousand units or one thousand units. We'll actually order twenty to thirty percent of the inventory that we anticipate on selling for that month. We'll get it to Amazon as quickly as possible because success loves speed,

and we'll test actual buying data from consumers. And if it sees that we're getting consecutive days, like three to five days, consecutive sales of what we anticipated on selling, then we make that back order. But if it's not, then we liquidated and move to the next product. And this is like my proprietary system, and this is how you profit off of failing product. So many people put all their eggs in one basket, but if you drop

the basket, all the eggs are gone. So instead of putting all my money in one product, will micro launch three products at once, or will micro launch that one product that way? If we get it to the marketplace and it doesn't perform the way we anticipated, we can liquidate that product, add a profit, and move to the next one. Because you got to remember, like so many people ask me, like, what's the worst that can happen with their product, like a failing product or losing Amazon product.

What does it look like? How much am I going to lose? What's the worst case scenario? And if you do this properly and you cross your t's, you dot your eye, and you do that product verification and validation that we discussed, the worst thing that's going to happen is you're not going to sell enough units daily to reach that ten thousand profit a month or three thousand profit a month or whatever you're anticipated on it's selling.

It makes be one here or two there. It may be inconsistent, but you have to remember you're still at that thirty percent to fifty percent profit margin. So even though it's a loser because it's not making us what we wanted to make, it's still profiting. And we only have a specific amount. We don't have an abundance of units that we can't get rid of or that's going to take a long time to get rid of, that's

going to lock up our capital. So we can liquidate it profit on the liquidation of that product, put all the proceeds into another product, and just keep testing until you find that one that's going to have consistency.

project seasonal? Is the profit margin there? Then you can use this software to actually pull up, Hey, this is all this is all the sellers, this is the average reviews, this is the average amount of sales. So you basically want to compare the amount of sellers, the amount of revenue to the amount of reviews. So one of the like the telltale ways of seeing if a product has high demand low competition is comparing the reviews to revenue.

So our bare minimum is we want to see a majority of the sellers selling a product at three hundred units per month, that's ten units per day, and we want that profit margin to be around, you know, thirty percent, like we mentioned, and we want a majority of the sellers to have less than two hundred reviews. So if you see a bunch of sellers who are selling a crapload of products per month, you know, one hundred, two hundred, three hundred, one thousand units per month, but they all

have two three thousand reviews. That means that there's a lot of ogs in that industry. There's a lot of people that's been selling that product. They have established track record with that industry. People prefer that brand, just like Colgate. Like if you go onto Toothpaste, it doesn't matter if you're cheaper or you're better. People love Colgate. They're not going to try the new guy, right, So that's how we establish does that product have high demand, low competition?

Is a lot of sales, a little bit of reviews.

is run. We can do giveaways, and there's so many different tools. We can run giveaways. We can do influencer marketing, we can do PPC, which is pay per click, and the majority of this is all within Amazon Seller Central. We can do this all within Amazon. The only one that I use that's very effective that's outside of Amazon, which we were talking about, is influencer marketing, and this

stuffs super super simple. Like in twenty eighteen, Jeff Bezos had a letter to shareholders that said that sales like third party sellers are kicking first party sellers butts. So people like me are kicking Amazon's actual brands butts and other huge conglomerates in brands butts because of the powerful resources that they're dumping millions of dollars into. So, like, I don't know if you guys ever try to run Facebook or YouTube or Google Ads. They're complex, they're difficult.

The whole user interface is difficult, and you got to know what you're doing with seller Central like you can set these ads up in a like in a minute or less. There's a few buttons and you click start. It's not as complex is Facebook or Google, and they're very effective and we're able to literally take our product that no one knows about, that barely has any reviews and push it to the top of search results by this paid advertising. And then my secret weapon is the

influencer marketing. So this is the only thing that's done outside of Amazon, and basically it works like this. I use Instagram because a lot of people know me On Instagram. You go into the search bar. Let's say we're launching a yoga mat. You type in hashtag yoga, and it's going to show all the hashtags, and next to it's going to show the number, which is the amount of

actual searches and posts. You want to find that keyword that has the most searched search volume or post volume, which means it's the largest and most impression based keyword, meaning people are basically searching for that keyword. So it's going to be hashtag yoga. We click on hashtag yoga, and we scroll through all the feed and we just start clicking on different posts to find influencers. So influencer is someone who has a special following in a specific category.

So we want to find someone that has over ten thousand followers. And the reason why ten thousand, ten thousand is the magic number is because on Instagram, if you have over ten thousand, you can do a swipe up story, meaning on their story you can swipe up and send them directly to a website. So we want to reach out to them by hitting the message button, which is

the DM. Right yogat he made that famous. They want to slide into their DM and just say, hey, my name is Josh, I'm getting ready to launch this yoga mat on Amazon. I love your page, I love what you're doing. I'd love to give your audience a discount on my product, which is an amazing product, and I'd love to work with you. And they're gonna be like, yeah, sure, awesome. Send me thirty bucks via cash app or via PayPal,

send me your link and send me your content. So you send them a picture, you send them the link to your Amazon store. They post it. Now. People who love yoga who want to buy a yoga mat are going directly to your Amazon store to buy your product. And remember, all we got to do is sell more than the other guy a few days in a row to kick his butt and move up in the search results. And that's what we do, man, that's the whole strategy.

one that everybody probably wondering. What's the budget that you actually need to get started in this business?

zero percent interest credit card. Use that because it's free money for the twelve months plus you're gonna get the bonuses and the benefits, so on and so forth. So, like I said, one thousand dollars to get started bare minimum, Definitely use lines of credit, business business lines of credit, or just credit cards. That's what I do. I'd never use my debit card. I personally use the gold Amax card because we get four x points on two different categories.

So the two biggest categories that the money is going to be spent with your business is number one sourcing products and number two advertising. So with that gold Amax business card, you get four x the points on two categories which is products, right, sourcing products, manufacturing products, and then you're advertising. So I'm using that and I'm like, people see me traveling around the world like them. Flights are free, the hotels are free, and I'm doing it all off my Amax points.

out ways to automate and delegate and not participate. And that's what if you go back to the beginning of the story, Like my first mentor is always talking about touch it.

money for time ten times out of ten. So I'm always thinking of ways to scale the business and scale the velocity and the volume in our business without scaling the amount of energy and time it needs for me. So the way I'm able to scale my company is by taking the reputitious duties that need to be done and by outsourcing it for pennies on the dollar for employees. So many people think that they got to do everything, they got to wear every hat because they can't afford

to hire an employee. But there's vas in all the top companies Fortune five hundred companies like Ge, like Apple, all these large companies, they use virtual assistance. And a lot of you guys who hear this right now, you're gonna be like like man, I was on the phone on customer support with this large company and it was someone who barely spoke English. And that's how they're able to do this is by using these vas, which are

employees in other countries. So the best country that I have found that's not only very very affordable, but they are very loyal and very hard workers is workers out of the Philippines. So you can go to online jobs dot pH and you can hire virtual assistants to do daily tasks to help you with your business anywhere between a dollar fifty per hour and five dollars per hour, depending on what they're doing, a majority of my virtual assistants are at two dollars and fifty cents per hour USD.

They work forty hours. And the beautiful thing on top of being able to hire people in your company who are loyal and hard working is if you're in America and like right now, it's twelve o'clock in the afternoon. Well in the Philippines, it's like twelve o'clock at night or eight o'clock at night. So while I'm sleeping, our other employees in other countries are actually working. So now our company is operating twenty four seven, three sixty five instead of twelve hours out the day or eight hours

out the day. So that's two key components to scaling. Is number one, you're able to automate and delegate instead of you actually participating doing reputationous stuff. Because if you're doing reputations stuff that you can easily delegate, you're working for your company and not on your company. So and this took me years. Like I've made millions of dollars across my three companies, I've made millions of dollars. And it was a combination is as entrepreneurs, we're control freaks.

It's like our baby, it's like our child, Like we built this thing up and we want control of everything. So it's hard to give it to someone else knowing they're not going to care for it the way that you would. They're going to treat it, you know what I mean, They're not going to treat it the way that you would. So it's difficult. But on the odverse side of that, you have to understand in order to scale that you have to be able to delegate. And

that's like a key thing. Like you guys got to focus on working on your business instead of for your business. So now, like I'm an avid believe we're in the eighty twenty rule. I tell people this all the time. Eighty percent of the profits, eighty percent of the momentum, eighty percent of the results comes from twenty percent of the effort. And now I can get more done in

less time now than before. When I was following the Gary Vee, Like, I was working sixteen hours a day, twenty hours a day hustling, and I would literally get depressed if I didn't fall asleep at my computer because I thought I wasn't doing everything I could, you know, to accomplish my why, which was helping my family out. Like I told you, guys, But now you can work smart, not hard, and by being productive. There's a huge difference between being productive and being busy. See, I thought being

busy was being productive. Now by through time management and virtual assistance and you know, just keeping track of everything and using software as like Slack and Traillo, which are management tools. I'm able to be productive and accomplish way much more and less time, which means I could spend that time with my kids, with my wife, or working on other things.

of life and all different businesses. And you know, the one thing I always were puzzled about is that people like spend tens of thousands of dollars in college and they learn from business professors that most of the time, the people that are teaching these professors teachers, they never actually did what they are teaching.

I see that a lot, especially online. So it's just inter because I feel like you have to invest in your business. And we talked about this all the time, and I feel like, no matter what, the podcast is a great resource, and YouTube is a great resource. Google is a great resource. But if you're really serious about starting a business, like if you have no idea about anything at all and you're just trying to become you know, a trucker, even you know, four hours of a podcast

probably isn't enough information. You probably want to pay one thousand dollars two thousand dollars to actually learn how to do it right. So but it's still interesting because people don't really pay a lot of times for education, and they make you make way more mistakes when you don't pay, because now you're just paying with experience and time, whereas if you actually paid and went through the proper educational channel, then you actually become a success.

to do it themselves. But it's like, would you just say, Okay, I watch YouTube for an hour and now I can be a doctor, Like probably not qualify to give open heart surgical de yeah, probably got go to medical school. So and then I always realized that for me, entrepreneurs that teach people they're interesting too, because it's like they made money in their business already, they don't necessarily have to teach. Of course, teaching is a business as well.

We never apologize about making money. That's the whole point of any formal business. You should always get paid for any service that you do, as long as it's done well. But I'm just curious to when entrepreneurs decide to teach other people. So you you're interesting because you come from

humble beginnings. Then you made a boatload of money, You made millions of dollars, So at what point did you decide that having money and being successful wasn't good enough and you wanted to actually start teaching because you have a whole educational portal and you teach people how to do this. So yeah, what was your thought processing and journey into doing that?

The only difference is the information, right, and I understood that information changes situations, but only through implementation. I understood that was the lack. The reason why people love school is because you're in a school setting and you're forced to actually implement. That's why so many actual entrepreneurs fail is because when they get started, they give up too early.

So the one main word that made me want to get into the educational space and start teaching with the AMZ formula's impact right, The AMZ formula was my formula. I created it for myself. You know, It's made me millions of dollars, so I knew it was tried and true because I was doing it myself. And the reason why I got into this space is because impact, not because of the income, because my real estate, my actual Amazon business, and my other businesses generate my full time income.

And to be completely honest, the education actually cannibalizes what I was telling you guys about spending less time and making more money because my education requires more of my time than my other businesses they're generating income. Twenty four seven three sixty five. But at a certain point in your career you have to understand what impact is and

what self fulfillment is. See so many people they don't have X amount of money or they haven't accomplished enough things on their bucket list, so their main priority is

money because they think that'll end everything. And being twenty seven twenty eight years old, self made millionaire, lost everything off on my bucket list, retired, my moms, retired, my wife, set my kids up with trust funds, traveled all around the world, money in the bank, forty plus investment properties, and I found myself sitting in my leven room, like severely depressed, almost contemplating suicide, like like what do I

have left to do? What is left to do? I did everything, And so many people think that money buys happiness, and I'm telling you, I bought everything that I ever wanted, that I ever dreamt of, and I was depressed, man, And it all boils down to happiness comes from within. It comes from within, and things that you do that

self fulfilling. So it wasn't until I remembered me praying to God literally, like God, show me something other than the streets, show me something other than what I'm doing, to help me change my family's life, and I'll do whatever. Like I remember like trying to barter with God, like help me out, and like it just clicked and I had an epiphany and I said, you know what, let me just start a personal brand. When I started my personal brand, I did it with zero intention of creating software,

creating an online educational platform or nothing like that. I just wanted to give my gift away and I wanted to be a blessing to others. And it so rapidly grew that people off the information I had where their lives were changing all around the world, and it felt good, like it sparked that. It sparked that feeling in me. When I had my first salor, when I made my first million, it sparked that spark again, and I was like, Wow, maybe this is what I was meant to do. So

the rest was all downhill from there. I've been teaching people and literally we have students in sixty three plus different countries, thousands of students, and I do this because of the impact, not the income. So and I love it. I'm passionate about it. If you can't tell by this podcast.

need to learn outside of that. And that's even why we have Eyo University, and there's a bunch of other platforms. But you know, it's really interesting. Like I said, if people think about it, people won't bad and I at taking out student loans and you know, ruining their future for money that they don't have to pay for a

degree that will amount to nothing, you know. Communications. The reason why I say communications degree is I have communications exact, I'm lucky enough to not have to use my degree. I'm an entrepreneur. But so I'm not bashing anybody has a communications degree. I just I have a communications degree, and if I wasn't an entrepreneur, I'd be royally screwed

right now. So you know, what is it as far as that is concerned, Because yeah, you know, you have a generic degree like communications or something like that, philosophy, and you go out in the world and you get a piece of paper and it's like good luck, and you know, let's hope that it works out for you.

them didn't have this opportunity. It did not exist. So when you're going against the norm, when you're going against the grain and there's a new opportunity and it sounds too good to be true, people think that it's a scam because it does sound too good to be true. Everybody, there was two ways. You get an education, or you learn a skill set. You're a doctor or a mechanic or a construction worker or that's it. That was basically the options that the people before us, our parents and

our parents and our grandparents had. There was no other options. My grandfather worked in the steel mill, lost his hearing you'd work there his entire life. You know, a lot of our parents work at the same job and then they retire. Changed, right, Communications have changed, Electronics have change,

and the opportunity is changed along with it. And just like you said, going back to the school, I just think it's crazy that so many people, like we call it the forty forty plan, so people literally spend forty thousand dollars working forty years of their life to retire on forty percent of what they were making while they were working. And that's supposed to be okay. If you ask me, that's a scam because the person you're learning from, the professor you're learning from, is not invested in your

well interests. Their name is not associated to the curriculum that they're teaching, and nine times out of ten, man to be honest, that curriculum is outdated and it's impersonal. Like I believe the reason why I dropped out of high school wasn't because I was bad or I was dumb. I think that it's not fair that you throw thirty forty people in a classroom that all have different learning sets and different learning preferences, and you force them to

learn the same way. I don't think it's right, and that's why, Like, you know, the only difference between where I was and where I was now is learning that skill set. Like, if you want increase your income, increase your skill set. It's that simple. So I'm a practitioner of education mentorship all the time. I'm constantly flying around the world to learn from some of the best. It's the fastest way to fast track your success. Like, if you want to fast track your success and learn something,

you just learn from someone who's done it. It's like the GPS. Like when we travel, I get off the plane and I'm somewhere. I don't know where I'm at. I enter in the instructions to the GPS to my hotel. Why do we use a GPS because it's going to take us somewhere we've never been with no confusion. We're not going to get lost, We're not going to waste gas. It's the same thing like education is the GPS to start in that business and being successful.

I knew exactly what you needed. So it was just dialing in on making sure that everybody got the attention that they needed, letting in beta students, going through the program, going through the entire process, helping them get results, and then getting feedback. Like one of the main things that we do that a lot of people don't do and I thought it was I almost didn't do it. I thought it was fluff and I was like, I don't know if I should do this is add a lot

of mindset stuff to the program. We had a lot of mindset stuff to the program. Another way we were able to scale this and get have such a high student success ratio is because of the live coaching. Instead of just a portal or a program that you go and you know, good luck, there's actually live chat rooms that are active twenty four seven, three sixty five. There's live bi weekly coaching. So like the coaches and myself,

everybody was literally getting feedback from everybody. When somebody was stuck or became complacent, we got that feedback and then we added systems, We added curriculum, we added different modules, different areas of homework, things to help those people. So just perfecting that over the last few years, going back, diving into everything, dialing everything in is how we were able to scale. And once we had the infrastructure set up and our success rate was where we wanted it

to be, then we were able to scale it. And we scaled it through through web classes, through presentations, through speaking, and just through my personal brand.

product research. From product research, we go on to verifying and validating the products. Then we go on to the next setting, which is going to be how to find the supplier, how to contact suppliers, how to negotiate, how to make sure that you know your money is secured, your investments secure that you're not getting scammed, the entire

the entire process. Then we move on to getting our products checked into the fulfillment center and doing the micro launches where we spoke about the proprietary section on how you can literally profit on a failed product using this strategy, we want a micro launch it instead of doing the opposite of we're literally doing the opposite of what everybody's doing.

Instead of getting our photos professionally taken and spending a bunch of money, we're getting it to Amazon as quickly as possible to get real data once it passes the micro launch. Then we move on to skyrocket and scale, which is how we literally scale that brand and we ail our business by ordering more products, reducing the product costs by renegotiating, increasing the quality through pictures, through branding, using exterior branding methods like influencers that we talked about

and then we talk about the longevity aspects. So every business should have a plan. And this is not a hustle. And this is why I told you guys, I fell in love with this business. I was tired of hustling. This is a real business, so irregardless, if you want to leave this business to your kids, grandchildren, whomever, or you want to exit it, you need to have that strategy.

So we share with you how to get an evaluation for your company, what you need to do to actually increase the evaluation of your company and make it a legitimate company. Your URL, your trademark, your copyright, the entire thing. And then actually where to go to sell your company

if you want to sell your company. So we literally from start to finish, show you how what the business is, how to start the business, how to find the products, and then how to exit that company down the road or know how to set your company up to thrive in the future. Hiring VAS if you want to automate this, If your goal is just to make ten thousand dollars a month or whatever it is, we show you how to automate it through VAS. If your goal is to replace your job and you need a X amount of money.

We show you how to reverse engineer that and how to build it. If your goal is just to create something that's going to make some money to get into another endeavor, we show you how to do everything. So it's literally perfect for everybody at any scenario.

That's that's the kind of that's the kind of talk. I love talk.

So you know, I spoke to you about it, and you know, I asked you, like, you know, could you do a special deal for us? And you was gracious enough to you know, lower the price even lower than what it was. And I think you have we have a special arrangement with ey L where we have a lower price, and I think anybody else nowhere else on the internet can you get your package as low as you're going to get it from our link. So I appreciate that because, like I said, you know, we had

a couple of conversations. I kind of just explained to you why, you know, it's important that we try to get the price as low as possible for our people. And you know, to your credit, you was a gentleman about it. You had no problem and we worked it out. So can you can you tell the people like the deal? Because like I said, I think we have the lowest price on the market.

It's got We got a live chat room that's active twenty four to seven three sixty five. And the price point for the AMZ Formula with everything that was in the remastered section is nineteen ninety seven. So what we did is we left it at fifty percent off for nine ninety seven. But I said, you know what, fifty percent off isn't good enough. We need to do something special for the eyl fams. So what we did is we created the funnel, moved everything separately, and even got

our own special domain, which is eylfba dot com. So on top of the fifty percent off, we knocked another one hundred dollars off which will allow you to go ahead and get started, get your software, and get you started from a to zase. So it's www dot e y l for earn your Leisure f b A for fulfillment by Amazon dot Com.

because you know it's imperative. You know, us as business people, we try to always get the best offer as possible, so we want we want the best offer for you know, our supporters in our community. So that's why you know, when I approach you with it, and you didn't try to go back and forth with me. You knocked it down even further than when it was already discounted and gave us, you know, rights to have the cheapest on the market as far as your product is concerned.

We got some new colors up there, so I mean that body that's been support and that we appreciate you. And we got some new colors coming, so be on the lookout for that.