The Amazing Seller Meetup – Charlotte, NC

https://youtu.be/uunocjwo4Yo

The Amazing Seller

This week I’m sharing a little vlog I did for the Amazing Seller meetup in Charlotte, NC.  Enjoy!

Transcript:

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all right here we go that I am putting

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the car in reverse we are headed to let

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me not back in the tree told you to have

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waited for today

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headed to the amazing seller he s meet

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up and Charlotte I’m so ready to get

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there and meet everybody so it’s gonna

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be a really fun night I will talk to you

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soon all right here we go

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please hey welcome back for another

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episode of the bootstrap movie for

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beginners build business is that I’m

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glad you’re here because this week we’ve

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got Scott from the amazing seller here

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[Music]

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all right Scott what’s your favorite

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thing about selling on Amazon my

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favorite thing about selling on Amazon

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is that they do most of the work

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what’s the harvesting the hardest thing

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not for me after a lot of getting

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started but I also think meeting in

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themselves they can actually awesome

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thank you

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[Music]

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and you

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it was just such a good reminder that

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whenever you can go and meet people face

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the paper you should do that because

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there’s so much value in that this was

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such a good night I met a lot of really

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interesting people doing really

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interesting stuff and I’m so bummed I

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can’t go to the meetup tomorrow the

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workshop they’re hosting but I just

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can’t get the only common commitments

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but it was so interesting to learn about

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everybody in all the different places

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they are in the process of building a

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business on Amazon and all the different

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routes that people have taken to get

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here and things that they’re trying out

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and working on accomplishing so time

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well-spent for sure there’s somebody

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getting in the car many I’m sure he

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thinks I’m a crazy person but I really

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enjoyed it so much so I’m sorry I really

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hope this video was gonna be longer but

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it was way too loud in there for the

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audio to work we’ll be in such a good

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time so if you ever have a chance to go

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and do a live meetup you should

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absolutely take it even if you’re

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somebody like me that’s super

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introverted and I’m probably going to

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sleep like a rock tonight because being

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a lot of people just makes me very tired

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because that’s okay because it’s worth

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it and I know I learned a lot and I made

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some new friends I’m sure bill will be

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on the channel heckling me now telling

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me that I need to get back in stocks I’m

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killing my Amazon ranking which I

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already knew that but he told me again

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but yeah it was such a good night guys

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such a good night so absolutely if you

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have the chance to do a meet-up and get

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go do it I will talk to you guys next

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week

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take care

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because I’m losing Emily all right Scott

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favorite my favorite thing about

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Yamazaki

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what is the bleep favorite that i play

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my treat up already

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yeah what is the secret but you’re going

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to ask me though you have to do analysis

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real man oh well

You can watch this video at The Bootstrap Boutique’s YouTube channel here.

You can watch videos at The Bootstrap Boutique YouTube channel here.

Amazon FBA Updates – June 2017

Amazon FBA Updates

It’s time for another update on what I’ve been working on here as far as Amazon FBA.

I also dig into a couple of books that I’ve been reading lately, more to come in videos about them later this summer!

Tools of Titans: http://amzn.to/2ia2f0R
Profit First: http://amzn.to/2rU7kzZ

Transcript:

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my hair’s huge today hey everybody

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welcome back for another episode of the

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bootstrap boutique where beginners build

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businesses and I’m glad you’re here

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today because we’re just going to do

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another Amazon update what’s been going

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on as far as making progress towards

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this whole unified sba thing we’ve got

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going on here seems like I do things

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about every two months that’s never

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really been on purpose it’s just kind of

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how it worked out and people seem to

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enjoy them so I will just keep doing

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them so the first thing I am thrilled to

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share is that my private label products

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are coming along really well the second

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order will be ready to ship any day now

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I am so excited I cannot wait to get

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back in stock at Amazon and get back to

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selling and making sure that that first

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order room wasn’t a fluke and I know you

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may be thinking low but you like too

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much to sell to nor just the unit’s are

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we really going to call that a success

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but just the fact that they sold oh yeah

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I’m going to call that a win one thing

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I’ve been learning lately is if you set

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the bar really low you can hit it so I’m

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becoming a really big fan at that so

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yeah the products are on their way to

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Amazon I have in the past couple of

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months set up a website for the private

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label brand to help drive traffic to the

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Amazon listing I applied for a trademark

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for brand registering which is a little

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bit terrifying I did it myself I don’t

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recommend that because I feel like I’m

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sure I did something wrong and it’s

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going to be rejected and I just do it

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all over again but I really wanted to go

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through the exercise myself so was that

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a bad idea probably that whole brain

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register your process now that you have

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to have a registered trademark is kind

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of a monster now so I’ve been working on

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documenting every step that I’m taking

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and everything I’m doing to hopefully

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help people down the road you know once

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it’s all done I will put it together and

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put it out there for you guys so you can

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see what it actually looks like to go

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through brain registry now that it’s

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like this whole process inside viewers

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before is a lot more simple of a thing

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to do something I’ve been really making

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a focused effort on doing is spending

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less time on the Internet

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not for war purposes but like the

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mindless browsing of Facebook or Twitter

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or reddit or whatever that you do and so

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I really tried to replace that mindless

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browsing time with just reading more

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books

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this is tools of Titan and I have almost

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finished with it it’s the library vocal

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it’s got to go back but I’m going to be

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buying a copy because it’s so hard to

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resist book and not go through and like

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highlight and sticky note and star and

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write notes in it so I want my own copy

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where I can do that this book has been

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so good over the last week or so that

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I’ve been reading it it has really made

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me think about so many things that

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otherwise I really wouldn’t have thought

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of and one of those things is meditation

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I definitely get too much in my own head

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and spend a lot of time thinking about

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things that I really can’t do anything

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about another problem that I have is

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that when my mind is on something like I

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can’t be distracted I have kind of so

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Matt and my husband before for never

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really reason it suffer I had something

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in mind I was planning on doing these

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just throws out a suggestion hey do you

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want to whatever and like no how could

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you how could you help you even think

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about doing that right now I’m going to

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do this is what I have to do and I just

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AM like ridiculous about it and so do

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you been telling me for a long time like

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Megan you need to meditate which has

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sink

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by that he meant Megan you need to chill

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out so let’s put that offer a long time

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because in my head it’s like I already

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have this long to-do list of stuff and I

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cannot put one more thing on it that’s

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what it was to be just doing one more

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thing on the to-do list but what I

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realized in reading tools Italians is

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that all these really smart people that

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are wait busier than I am most of them

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are making time to meditate at some

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point during the day or if they don’t

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meditate specifically they have

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meditation like practices that they

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follow and so it’s something that I

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started I’m only like a week and I

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downloaded the headspace app and I mean

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has it changed my life no but it is nice

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just to take those three minutes to just

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sit quietly focus on your breathing and

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not worry about other stuff I’m really

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excited about what this practice will do

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in the future it’s become something that

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I get more and more

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– and like more into doing so we’ll see

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we’ll see but I figured I kind of got to

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a place where I was like it can’t hurt

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and if it can help I’m willing to give

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it a shot because I will tell you I’ve

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had days over the past week especially

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or it’s like if somebody asked me to do

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one more thing I’m gonna lose my another

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book I’ve been reading that I’m going to

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dedicate like a whole video to is called

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profit first this is about how to run

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your business profitably which of you

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guys know you’ve been watching my videos

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I’m not really making a lot of money

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right now so it’s important that I set

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up my business in a way that is

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supporting me and what I want to do

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financially with the money I’ve earned

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from it I talked a lot about how my goal

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is not to put my day job but I would

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like to eventually pull money out of the

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business to you know pay off the

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mortgage or take a nice vacation or

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something like and this book is really

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open my eyes the title start doing that

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now even if it’s just a little bit then

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the chances of me doing it down the road

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our various one because there’s always

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something else you can spend your money

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on in the business so it’s all about

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prioritizing your dollars and my the

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author he recommends that you just start

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setting us at 1% for profit and if you

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can’t run your business off of 99

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percent of what it makes you can’t run

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it off 100 percent that isn’t such a

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good mine’s just for me to think about

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so I’m excited to do another video about

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this book and talk about how I’m going

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to implement it in the business got

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something really exciting humming next

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week last Friday I was able to attend

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the amazing seller meetup in North

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Carolina it was a blast but I don’t want

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to tell you about it I just want to show

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you so that will be next week’s video

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don’t miss it there is so many cool

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things that have been taking place over

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the last couple of months so it was

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really good to just take some time this

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week and reflect on how much I’ve

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actually been able to accomplish because

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if you focus on how much there is still

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to do then it’s really easy to lose

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sight of how much you’ve already done so

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I would love to see if you just take

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some time and think about how far you’ve

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come already congratulate yourself on

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all the stuff you’ve already gotten done

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on all the obstacles you’ve already

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overcome just get up pat on the back

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everybody you are doing

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a great job tell me all about it in the

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comment and I’ll talk to you next week

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take care

You can watch this video at The Bootstrap Boutique’s YouTube channel here.

You can watch more videos at The Bootstrap Boutique’s YouTube channel here.

Amazon Two Step Verification – Turn It On To Protect Your Amazon Account!

https://youtu.be/xzW6soLLpSc

Two Step Verification

Today’s video is an important one. Watch this tutorial to learn how to turn on Two Step Verification for your Amazon Seller Central Account.  Protect your Amazon FBA account from hackers in less than 5 minutes.

Transcript:

1
00:00:00,000 –> 00:00:06,569
okay this topic it’s not sexy but it is

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00:00:02,760 –> 00:00:08,040
very important hey welcome back for

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00:00:06,569 –> 00:00:09,360
another episode of the bootstrap

4
00:00:08,040 –> 00:00:11,219
boutique where beginners build

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businesses I am glad you’re here today

6
00:00:11,219 –> 00:00:14,969
because we’re going to talk about

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turning on two-step verification with

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your Amazon seller central account and

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why that is so important let’s talk

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about the why first why is it important

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to turn on two-step verification the

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simple fact is because Amazon accounts

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are getting hacked frequently a big part

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of this hijacker issue that was going on

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a month or so ago was that hackers were

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getting into old Amazon accounts and

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this nut accounts that were already

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existing but hadn’t been used in a while

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and they were using those two lists

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hundreds of products fraudulently they

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were able to do that because those

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accounts were just like I said they were

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not being used anymore so it was a lot

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easier to tack into those accounts

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because nobody’s really watching them

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that’s about as technical as I can get

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as far as explaining how that happened

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so that happened to account for you know

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pretty much an active but it could

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happen to your account too and it can

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happen much more quickly then you would

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realize and the meal does do anything

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about it

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so you’re really your account at Amazon

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is at risk if you don’t have this 2-step

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verification turned on so what 2-step

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verification means is if you sign into

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your Amazon seller central account on a

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new device it’s going to alert you via a

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way that you’ve previously said you want

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to be alerted is email or text or phone

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call and they will do that and then you

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have to put in the code to then be able

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to log into your account on the new

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device this is similar to like what bank

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accounts have done online for a while

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now I’ve had to do that anytime I go log

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onto a new computer and yes you’re like

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oh this is kind of annoying it’s

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obviously me but it may not always be

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you because I will believe something

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that’s kind of scary I turn two-step

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verification on a month ago and there

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have been two times when I’ve got

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notification from Amazon via text that

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say hey here’s your new PIN and I’m like

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oh I didn’t ask for that so that means

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twice somebody has tried to get into my

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seller central account and

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is really Fieri so what I want you to do

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today is put this on the top of your

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to-do list if you currently have an

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Amazon seller central account you need

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to turn this on it is simple to do it

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will take you five minutes we’re going

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to go to the computer now and walk

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through how to set that up so setting up

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two-step verification and Amazon sellers

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and so it was really easy we’re going to

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walk step-by-step through what you need

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to do first thing you’re going to do is

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obviously log into your seller central

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account from there in the top right hand

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side you’re going to go to settings and

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then scroll down to login settings

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that’s going to bring you to a page that

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shows your name your email your password

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everything you use to log in and then

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the last option is advanced security

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settings so you’re going to go ahead and

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click the edit button and once you’re

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here because I already have my setup

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once I do have my phone numbers in there

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but for you if you’re doing this for the

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very first time we just go ahead and

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click that get started button but from

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there you’re going to indicate what

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device you want to receive these

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notifications on and so for me I have

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two DS my cell phone because I pretty

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much always have it with me and then I

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do have my actual we have a landline

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phone number as my backup which can

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obviously only receive a land call

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landline call but for my phone my cell

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phone I did put it that I wanted to

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receive a message via text so there’s a

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few different options here but this is

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how I’m going to set mine up until I put

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in my phone number and you hit send code

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and within really it says it to give it

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a minute or two but for me it’s always

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been pretty much instant they’re going

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to text you a code and then you verify

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the code that you receive you hit enter

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to continue there are some other

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alternate sign and methods that you can

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choose so you’re just going to want to

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make sure that you read through these

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and then click OK and then once you’re

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done you will get a green notification

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that you have turned on 2-step

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verification so like I said it is really

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easy it won’t take you five minutes no

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reason not to do it oh and one last

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thing I did want to remind you guys is

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don’t forget to change your password you

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should do as I say and that as I do and

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don’t keep a password for like years on

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an account that’s important to you so

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make sure you’re changing updating your

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passwords regularly all right well

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that’s all you have to do is turn on

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that two-step verification so make sure

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you do it and I will talk to you next

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time take care I’m going to talk about

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two

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factor purification what is the call to

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stuff I’m going to talk about two steps

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office authentification often

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constipation why can’t I say it

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verification

You can watch this video at The Bootstrap Boutique’s YouTube channel here.

You can watch The Bootstrap Boutique’s YouTube channel here.

How To Start an Amazon FBA Business

How to start on Amazon? Well, this isn’t really a “how to” video as much as it is a chat about how it’s so important to be willing to try things, be willing to be wrong, and be willing to move forward into the unknown.

Transcript:

1
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there is only one way to start your

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Amazon business this is not a video of

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tips tricks or tactics FYI hey everybody

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welcome back to another week of the

5
00:00:11,429 –> 00:00:14,759
bootstrap boutique where beginners build

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businesses I am glad you’re here today

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because I want to be very real honest

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transparent etc with you so as you know

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I have now sold through my first private

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label order and I even made a little

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money doing it because I raise my prices

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we have built the bootstrap boutique

13
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YouTube channel to 600 subscribers now

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and there’s more joining us every day

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but there were days at a time when

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nobody brought my product on Amazon it

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let me nine months from launching to

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bootstrap boutique channel to give to my

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first hundred subscribers the point is

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the little bit of success that I’ve had

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with Amazon with the bootstrap booty

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it’s all really due to one thing

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I started my Amazon business I started

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this right here because I showed up

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every day to do the work okay

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let’s be honest it’s more like I sat

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down every night to do the work but you

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get the point even if it’s only one

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thing that you get done you show up and

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you do the work because last night all I

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got done was sending two emails but

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those two emails were crucial in making

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sure that my next order of products gets

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done gets completed get shipped here to

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the states and a timely manner so my

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advice to you if you want to start an

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Amazon business if you want to create a

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YouTube channel if you want to build

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some other kind of business whatever it

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is you’ve just got to start that’s the

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only way you just have to try and see

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what happens and there’s a lot of fun

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and just trying stuff I know I’ve talked

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about it before I’m used to being a

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student front of the class don’t like to

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get things wrong and in this business I

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have built and the Amazon and the

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YouTube I have done more things wrong

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that I feel like I’ve probably ever done

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in my entire life but it doesn’t matter

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if you come back and you do it again if

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you try again and that’s what I just

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really really want to share with you

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00:02:09,540 –> 00:02:13,620
guys because I see a lot of comments

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that say I’m thinking about starting my

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Amazon business I’m looking into private

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label it I’m so excited for you guys and

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I’m so your cheer leader in all of this

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but I cannot and she said I want to come

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through the screen and do it for you

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guys if you’re telling me hey I want to

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try to try it do it do something because

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this is so much fun that’s what I want

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00:02:35,040 –> 00:02:41,340
you to realize is that it’s a lot of fun

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00:02:37,860 –> 00:02:44,730
to try this stuff and to do it and to

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00:02:41,340 –> 00:02:46,320
fail yes but also to succeed I will tell

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00:02:44,730 –> 00:02:49,410
you that two years ago if you had told

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me a night in in 2017 you’re going to be

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selling physical products on Amazon I

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would have thought you were an insane

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00:02:53,790 –> 00:02:58,080
person a year ago if you said hey Megan

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00:02:56,280 –> 00:03:00,540
in 2017 you’re going to have a youtube

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channel that people actually watch I

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00:03:00,540 –> 00:03:05,550
would not believe you six months ago if

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00:03:04,170 –> 00:03:07,260
you said hey Megan guess what you’re

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00:03:05,550 –> 00:03:09,300
going to be doing in June you’re going

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to be organizing a meet-up for Scott

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Vogler aka be amazing seller what me no

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not me I don’t do stuff like that all of

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this stuff that’s going on have happened

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00:03:18,660 –> 00:03:22,709
because I’ve been willing to try stuff

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that’s all it is and that’s what I want

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for you to I want you don’t want it so

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much that you’re willing to do whatever

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it takes to start whatever is that

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you’re dreaming about today so triceps

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show up do the work ask questions okay a

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lot of questions and you’ll get stuck

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and that’s okay just don’t let the stuck

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stop question of the day what are you

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00:03:44,910 –> 00:03:48,900
going to accomplish today to move your

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business forward leave in the comments

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00:03:48,900 –> 00:03:53,000
below I’ll talk to you next time take

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00:03:50,820 –> 00:03:53,000
care.

You can watch the video at The Bootstrap Boutique’s YouTube channel here.

You can watch The Bootstrap Boutique’s YouTube channel here.

AMAZON FBA: Why I Decided to Stick with Product #1

https://youtu.be/kFF0IOv6N40

Why I decided to stick with product #1:

I owe you an explanation.

In several videos, you have watched me hem and haw about sticking with my first product and re-ordering versus moving forward and trying my luck with somethings else.

I’ve decided to go all in and re-order my first product. I believe that I can make incremental changes to increase my margin overtime, as well as raise my sales. I can turn this product from a zero to a hero.

Watch to see what I mean!

Transcript:

1
00:00:00,000 –> 00:00:04,140
there has been a lot of hand-wringing

2
00:00:01,949 –> 00:00:06,859
about this that you will be happy to

3
00:00:04,140 –> 00:00:09,570
know I’m ready to move forward

4
00:00:06,859 –> 00:00:11,400
hey welcome back for another episode of

5
00:00:09,570 –> 00:00:13,620
the disrupting tea queer beginners

6
00:00:11,400 –> 00:00:15,660
filled businesses I am glad you’re here

7
00:00:13,620 –> 00:00:18,300
today because I am going to tell you all

8
00:00:15,660 –> 00:00:20,520
about why I ultimately decided to stick

9
00:00:18,300 –> 00:00:22,619
with product one so you all know you’re

10
00:00:20,520 –> 00:00:24,210
very well acquainted with the struggles

11
00:00:22,619 –> 00:00:26,310
I’ve had with product one and it’s just

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kind of lack of profitability I wasn’t

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making any money off of it at all and so

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I talked about it in other videos and I

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was like I don’t know what I’m going to

16
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do and I finally know what I’m going to

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do and that is I am reordering I’m going

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all-in I guess on another 250 order unit

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of product 1 and this one is going to be

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successful and it’s going to make me

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money and I have the numbers to back

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that up I know why and that’s what I’m

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going to share with you today so as I

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mentioned before product 1 I was selling

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at $24.99 and when I first launched I

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was selling quite a bit and then it just

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kind of was tapering off that I was

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averaging between 1 and 3 sales a day

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really more like two or three a day at

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that $24.99 price point however was PBC

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and with the cost of goods and all that

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stuff I was really making very little

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money probably less than two dollars a

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unit depending on what my PPC spent had

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been for the day and I was like this is

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crazy I mean because it is crazy right

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like you don’t go in business to make $2

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$4 a day and so I was like this isn’t

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working I don’t think that I’m going to

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do 4 with this I think I’m just going to

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say this was not a success and go do

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something else then I got the

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opportunity to shop with Scott bulk

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we’re on this podcast which is really

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cool somehow I worked my way into a free

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coaching call with him and he was like

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you know I really think that you can do

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some stuff to lower your cost and if

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you’re already selling and you’ve

50
00:01:47,970 –> 00:01:53,009
already invested in getting photography

51
00:01:49,950 –> 00:01:55,380
in UPC code and all that stuff and you

52
00:01:53,009 –> 00:01:56,009
can probably turn this around and I was

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like yeah okay

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I really just thought I was humoring him

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a little bit but like there’s no way

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like you don’t know my life come on but

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what I did was I contacted some shipping

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companies from freight forwarders that’s

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the word I was looking for and I got a

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quote back and I

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save $700 plus on shipping those 250

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units and and that’s she C shipping I

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love you a little bit more for air

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shipping I’m still waiting on that final

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quote but they said it was going to be

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pretty competitive so we’ll see I’m

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excited about that I also contacted my

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supplier and asked for a discount on

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pricing they said that because I wasn’t

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ordering more it’s a higher moq to get a

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lower rate I’m not ready to invest that

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much money if you’re like $8,000 in

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product costs I’m not really ready to do

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that yet but you know we are working

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towards I know what my next goal is to

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be able to get lower cost on on the

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products so this is exciting this is all

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good stuff turns out there is money to

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be made or saved in this case selling so

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now the next shipment if I sold it

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$24.99 I know I could make a profit

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that’s pretty exciting I probably get

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out more around five dollars a unit

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which isn’t that pretty I would be

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pretty happy with that

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but let me tell you I am really excited

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about ordering products one again as I

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was getting lower in inventory I’ve

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raised my rate I raised my rate from

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$24.99 to $29.99 which is absolutely

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like top a market for this product and I

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was like you know it’s going to slow

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down I’m probably only going to sell one

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every day or so but who cares not making

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money anyway and least that way I’ll

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make a little bit of money and I will go

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out of stock before I give this

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opportunity to order and more funny

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thing happened myself looks doubled so I

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went from selling about one to three a

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day at $24.99 to throw in four to eight

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a day at $29.99 that’s more than

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doubling but you get my point

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I was shocked so now not only do I know

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at $24.99 I can make it okay profit

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selling this product but at $29.99 I can

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make a better product and potentially

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sell way more sign me up that was the

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happiest accident I think I’ve ever had

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so but here’s the problem right I raised

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my price so I wouldn’t go out of stock

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and now I’m selling faster than I’ve

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ever sold before so I’ve raised my price

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again from 34 sorry from $29.99

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to $34.99 and sales dropped but they

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went down to the same rate I was selling

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at $24.99 I’m back into that 1 2 3 sales

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range rate and I’m like I can’t even

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believe so you’re telling me for the

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first 175 units I could have been

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selling them at the same velocity sing

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sales velocity for $10 profit more I

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mean that now I’m making even with my

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high cost – good 12 dollars and five

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cents a unit profit much so hey guys

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here’s the cake away tester price

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because you don’t know where you’re you

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know your sales of your profit curve is

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going to peak out because my peaked out

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at $29.99 and I never would have guessed

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that for my first 250 units that I saw

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I’ve had very low PPC spent I’ve got it

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started that I have not spent a lot of

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money on it I think five dollars a day

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would be like the absolute most I’ve

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spent so far I also did no outside

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marketing I had nothing outside driving

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sale to Amazon’s with read people to buy

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my product and then finally I had no

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giveaway I have mentioned in the past

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also the giveaways just never really

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appealed to me that much I really never

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wanted to play that game I did talk with

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this guy who runs fetcher which is in

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partnership with jumbo Scout and he was

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like you know if you gave away like 25

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units five a day for five days that

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could really bump your VSR you probably

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really surprised at how many fields you

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started to get just from doing that so

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it’s something I am considering and

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still just it’s not excited about it

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it’s still not excited about just giving

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away product but if you can spend a

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little money to make a lot of money then

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that’s a trade that we should always

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make so the other thing that I did not

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do on the very first unit if you order

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or shipment now I have some other areas

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that I know I can improve in order to

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probably sell at a higher sell

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philosophy right lower my BSR that would

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be adding more pictures right now I only

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have studio photos I don’t have any

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lifestyle pictures and I always hear

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that people really like lifestyle

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pictures another thing is I could do

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giveaways if I choose to do that and

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then the last thing would be the

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hence brand content I don’t have that

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currently only available through brand

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register which I were working on but

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it’s a longer process now we need to get

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trademark we’ll talk about that in

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another video but I looking at that

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enhance brain content because a lot of

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my competitors have that that’s just

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something else that I note will only

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help it certainly is not going to hurt

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so we’re going to work towards that also

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I guess in the end of the day I was just

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like Megan this is a good product and

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it’s selling with you basically doing

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nothing with it so if we put a little

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effort into it we can probably sell a

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lot more and that’s what I’ve decided to

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do is really focus on making product one

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is success and I will tell you that

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there are some of you guys in the

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comment section that kind of kicked my

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00:07:13,800 –> 00:07:18,659
butt on me wanting to just drop it and

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move on to the next product and not

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really taking time to figure out what

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00:07:20,310 –> 00:07:24,690
was wrong what I did wrong with the

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first product so thank you guys so much

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for being that support and that

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accountability for me I couldn’t do it

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without you do you have any questions

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00:07:29,729 –> 00:07:33,479
about anything I didn’t cover here about

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00:07:31,530 –> 00:07:36,180
how it ultimately came to the decision

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00:07:33,479 –> 00:07:37,110
to stick with product one reorder and go

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all in on it

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00:07:37,110 –> 00:07:40,560
leave those down in the comment section

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below I will certainly be checking in

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and happy to answer any other questions

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that you have for me there

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as always guys take care have a great

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00:07:46,409 –> 00:07:49,699
week I will talk to you next time
1
00:00:00,000 –> 00:00:04,140
there has been a lot of hand-wringing

2
00:00:01,949 –> 00:00:06,859
about this that you will be happy to

3
00:00:04,140 –> 00:00:09,570
know I’m ready to move forward

4
00:00:06,859 –> 00:00:11,400
hey welcome back for another episode of

5
00:00:09,570 –> 00:00:13,620
the disrupting tea queer beginners

6
00:00:11,400 –> 00:00:15,660
filled businesses I am glad you’re here

7
00:00:13,620 –> 00:00:18,300
today because I am going to tell you all

8
00:00:15,660 –> 00:00:20,520
about why I ultimately decided to stick

9
00:00:18,300 –> 00:00:22,619
with product one so you all know you’re

10
00:00:20,520 –> 00:00:24,210
very well acquainted with the struggles

11
00:00:22,619 –> 00:00:26,310
I’ve had with product one and it’s just

12
00:00:24,210 –> 00:00:28,949
kind of lack of profitability I wasn’t

13
00:00:26,310 –> 00:00:31,109
making any money off of it at all and so

14
00:00:28,949 –> 00:00:32,189
I talked about it in other videos and I

15
00:00:31,109 –> 00:00:35,130
was like I don’t know what I’m going to

16
00:00:32,189 –> 00:00:37,829
do and I finally know what I’m going to

17
00:00:35,130 –> 00:00:40,710
do and that is I am reordering I’m going

18
00:00:37,829 –> 00:00:43,140
all-in I guess on another 250 order unit

19
00:00:40,710 –> 00:00:44,730
of product 1 and this one is going to be

20
00:00:43,140 –> 00:00:46,950
successful and it’s going to make me

21
00:00:44,730 –> 00:00:49,590
money and I have the numbers to back

22
00:00:46,950 –> 00:00:50,940
that up I know why and that’s what I’m

23
00:00:49,590 –> 00:00:53,579
going to share with you today so as I

24
00:00:50,940 –> 00:00:56,520
mentioned before product 1 I was selling

25
00:00:53,579 –> 00:00:58,920
at $24.99 and when I first launched I

26
00:00:56,520 –> 00:01:00,739
was selling quite a bit and then it just

27
00:00:58,920 –> 00:01:03,329
kind of was tapering off that I was

28
00:01:00,739 –> 00:01:05,970
averaging between 1 and 3 sales a day

29
00:01:03,329 –> 00:01:09,689
really more like two or three a day at

30
00:01:05,970 –> 00:01:11,490
that $24.99 price point however was PBC

31
00:01:09,689 –> 00:01:13,920
and with the cost of goods and all that

32
00:01:11,490 –> 00:01:15,840
stuff I was really making very little

33
00:01:13,920 –> 00:01:18,210
money probably less than two dollars a

34
00:01:15,840 –> 00:01:20,159
unit depending on what my PPC spent had

35
00:01:18,210 –> 00:01:22,020
been for the day and I was like this is

36
00:01:20,159 –> 00:01:24,210
crazy I mean because it is crazy right

37
00:01:22,020 –> 00:01:27,659
like you don’t go in business to make $2

38
00:01:24,210 –> 00:01:29,610
$4 a day and so I was like this isn’t

39
00:01:27,659 –> 00:01:31,140
working I don’t think that I’m going to

40
00:01:29,610 –> 00:01:33,329
do 4 with this I think I’m just going to

41
00:01:31,140 –> 00:01:34,770
say this was not a success and go do

42
00:01:33,329 –> 00:01:36,299
something else then I got the

43
00:01:34,770 –> 00:01:37,979
opportunity to shop with Scott bulk

44
00:01:36,299 –> 00:01:39,960
we’re on this podcast which is really

45
00:01:37,979 –> 00:01:42,210
cool somehow I worked my way into a free

46
00:01:39,960 –> 00:01:43,649
coaching call with him and he was like

47
00:01:42,210 –> 00:01:46,920
you know I really think that you can do

48
00:01:43,649 –> 00:01:47,970
some stuff to lower your cost and if

49
00:01:46,920 –> 00:01:49,950
you’re already selling and you’ve

50
00:01:47,970 –> 00:01:53,009
already invested in getting photography

51
00:01:49,950 –> 00:01:55,380
in UPC code and all that stuff and you

52
00:01:53,009 –> 00:01:56,009
can probably turn this around and I was

53
00:01:55,380 –> 00:01:58,890
like yeah okay

54
00:01:56,009 –> 00:02:00,479
I really just thought I was humoring him

55
00:01:58,890 –> 00:02:02,790
a little bit but like there’s no way

56
00:02:00,479 –> 00:02:06,049
like you don’t know my life come on but

57
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what I did was I contacted some shipping

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companies from freight forwarders that’s

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the word I was looking for and I got a

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quote back and I

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save $700 plus on shipping those 250

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units and and that’s she C shipping I

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love you a little bit more for air

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shipping I’m still waiting on that final

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quote but they said it was going to be

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pretty competitive so we’ll see I’m

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excited about that I also contacted my

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supplier and asked for a discount on

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pricing they said that because I wasn’t

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ordering more it’s a higher moq to get a

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lower rate I’m not ready to invest that

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much money if you’re like $8,000 in

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product costs I’m not really ready to do

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that yet but you know we are working

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towards I know what my next goal is to

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be able to get lower cost on on the

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products so this is exciting this is all

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good stuff turns out there is money to

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be made or saved in this case selling so

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now the next shipment if I sold it

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$24.99 I know I could make a profit

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that’s pretty exciting I probably get

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out more around five dollars a unit

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which isn’t that pretty I would be

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pretty happy with that

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but let me tell you I am really excited

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about ordering products one again as I

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was getting lower in inventory I’ve

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raised my rate I raised my rate from

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$24.99 to $29.99 which is absolutely

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like top a market for this product and I

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was like you know it’s going to slow

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down I’m probably only going to sell one

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every day or so but who cares not making

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money anyway and least that way I’ll

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make a little bit of money and I will go

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out of stock before I give this

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opportunity to order and more funny

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thing happened myself looks doubled so I

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went from selling about one to three a

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day at $24.99 to throw in four to eight

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a day at $29.99 that’s more than

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doubling but you get my point

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I was shocked so now not only do I know

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at $24.99 I can make it okay profit

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selling this product but at $29.99 I can

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make a better product and potentially

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sell way more sign me up that was the

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happiest accident I think I’ve ever had

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so but here’s the problem right I raised

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my price so I wouldn’t go out of stock

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and now I’m selling faster than I’ve

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ever sold before so I’ve raised my price

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again from 34 sorry from $29.99

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to $34.99 and sales dropped but they

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went down to the same rate I was selling

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at $24.99 I’m back into that 1 2 3 sales

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range rate and I’m like I can’t even

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believe so you’re telling me for the

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first 175 units I could have been

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selling them at the same velocity sing

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sales velocity for $10 profit more I

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mean that now I’m making even with my

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high cost – good 12 dollars and five

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cents a unit profit much so hey guys

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here’s the cake away tester price

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because you don’t know where you’re you

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know your sales of your profit curve is

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going to peak out because my peaked out

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at $29.99 and I never would have guessed

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that for my first 250 units that I saw

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I’ve had very low PPC spent I’ve got it

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started that I have not spent a lot of

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money on it I think five dollars a day

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would be like the absolute most I’ve

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spent so far I also did no outside

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marketing I had nothing outside driving

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sale to Amazon’s with read people to buy

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my product and then finally I had no

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giveaway I have mentioned in the past

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also the giveaways just never really

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appealed to me that much I really never

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wanted to play that game I did talk with

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this guy who runs fetcher which is in

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partnership with jumbo Scout and he was

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like you know if you gave away like 25

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units five a day for five days that

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could really bump your VSR you probably

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really surprised at how many fields you

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started to get just from doing that so

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it’s something I am considering and

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still just it’s not excited about it

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it’s still not excited about just giving

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away product but if you can spend a

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little money to make a lot of money then

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that’s a trade that we should always

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make so the other thing that I did not

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do on the very first unit if you order

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or shipment now I have some other areas

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that I know I can improve in order to

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probably sell at a higher sell

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philosophy right lower my BSR that would

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be adding more pictures right now I only

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have studio photos I don’t have any

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lifestyle pictures and I always hear

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that people really like lifestyle

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pictures another thing is I could do

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giveaways if I choose to do that and

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then the last thing would be the

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hence brand content I don’t have that

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currently only available through brand

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register which I were working on but

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it’s a longer process now we need to get

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trademark we’ll talk about that in

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another video but I looking at that

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enhance brain content because a lot of

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my competitors have that that’s just

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something else that I note will only

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help it certainly is not going to hurt

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so we’re going to work towards that also

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I guess in the end of the day I was just

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like Megan this is a good product and

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it’s selling with you basically doing

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nothing with it so if we put a little

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effort into it we can probably sell a

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lot more and that’s what I’ve decided to

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do is really focus on making product one

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is success and I will tell you that

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there are some of you guys in the

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comment section that kind of kicked my

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00:07:13,800 –> 00:07:18,659
butt on me wanting to just drop it and

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move on to the next product and not

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00:07:18,659 –> 00:07:22,199
really taking time to figure out what

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00:07:20,310 –> 00:07:24,690
was wrong what I did wrong with the

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00:07:22,199 –> 00:07:26,159
first product so thank you guys so much

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for being that support and that

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accountability for me I couldn’t do it

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without you do you have any questions

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00:07:29,729 –> 00:07:33,479
about anything I didn’t cover here about

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00:07:31,530 –> 00:07:36,180
how it ultimately came to the decision

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to stick with product one reorder and go

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all in on it

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leave those down in the comment section

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below I will certainly be checking in

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and happy to answer any other questions

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that you have for me there

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as always guys take care have a great

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00:07:46,409 –> 00:07:49,699
week I will talk to you next time
You can watch this video at The Bootstrap Boutique YouTube channel here.

You can watch more at The Bootstrap Boutique’s YouTube channel here.

Parent Child Variations on Amazon FBA

Parent Child variations on Amazon sounds confusing at first, but it’s something your familiar with wether you realize it or not.  Watch today’s video to find out what a parent child variation is, when you should use it, and when you should not while listing your products on Amazon FBA.

Transcript:

1
00:00:00,030 –> 00:00:05,299
parent-child listings I no idea what

2
00:00:03,480 –> 00:00:08,069
that was

3
00:00:05,299 –> 00:00:09,840
hey welcome back for another episode of

4
00:00:08,069 –> 00:00:11,580
the bootstrap boutique we’re beginners

5
00:00:09,840 –> 00:00:12,990
built businesses that I have larger here

6
00:00:11,580 –> 00:00:15,509
today because we’re going to talk about

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00:00:12,990 –> 00:00:18,270
a pretty beginner thing when it comes to

8
00:00:15,509 –> 00:00:21,390
selling Amazon FBA and that is parent

9
00:00:18,270 –> 00:00:24,119
child variations on your listing Amazon

10
00:00:21,390 –> 00:00:26,160
has a lot of lingo and you’re a child

11
00:00:24,119 –> 00:00:27,599
and variation is one of the things that

12
00:00:26,160 –> 00:00:29,369
you see get thrown around a lot

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00:00:27,599 –> 00:00:30,960
turn on the Facebook group your message

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00:00:29,369 –> 00:00:32,219
boards or anything like that and I kept

15
00:00:30,960 –> 00:00:34,170
seeing it and I was like I don’t really

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00:00:32,219 –> 00:00:37,800
get that I don’t really get what that

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00:00:34,170 –> 00:00:39,510
means so I did what I do and I did

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00:00:37,800 –> 00:00:42,320
research on it and I’m going to share

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00:00:39,510 –> 00:00:45,030
what I found out with you today so a

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00:00:42,320 –> 00:00:46,920
parent/child listing is a type of what

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00:00:45,030 –> 00:00:49,170
amazon health and variation and the

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00:00:46,920 –> 00:00:50,730
purpose of the variation is to help

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reduce the number of listings that are

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00:00:50,730 –> 00:00:55,170
on the amazon platform what it also does

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00:00:52,890 –> 00:00:56,910
is connect items that are essentially

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00:00:55,170 –> 00:00:58,920
the same thing they just really vary by

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size or by color or by some other

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attribute that doesn’t really change

29
00:01:01,020 –> 00:01:06,000
what the product is so if you sell a

30
00:01:03,840 –> 00:01:08,460
product that has variations if you sell

31
00:01:06,000 –> 00:01:10,560
a small medium and large you have to set

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00:01:08,460 –> 00:01:12,119
out the parent/child listing on Amazon

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00:01:10,560 –> 00:01:13,590
to sell it let’s run over to the

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computer and I’ll show you an example

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just so we can make sure we’re all on

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the same page as to what a parent/child

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00:01:17,130 –> 00:01:21,270
listing looks like okay so here I am at

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Amazon and we’re going to like I said

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look for a parent-child variation so

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let’s say that I want to buy a new red

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00:01:25,830 –> 00:01:30,420
shirt so on this page type in women’s

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red shirt oh it’s like I’ve done this

43
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before isn’t that funny okay and please

44
00:01:34,170 –> 00:01:40,860
excuse my typo up there but anyway I am

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going to choose this very first one as

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an example as my internet loads so

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you’ll notice that the title of this

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product is Hanes women’s short sleeve

49
00:01:48,720 –> 00:01:54,060
nano tee v-neck tee which yes is a

50
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mouthful but it also doesn’t say

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anything specific about color or

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anything specific about sides and so

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what that allows us to do is when I

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search for a red shirt it pulls up the

55
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red but if I had searched for a gray

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shirt or a black shirt then it would

57
00:02:07,649 –> 00:02:11,910
also give me this listing it was just

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the primary color that popped up would

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be different

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so the parent listing is this woman’s

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00:02:17,050 –> 00:02:23,320
short sleeve Nino t-shirt but then these

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are all children listings or variations

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so like I said the common variations are

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color and side so as you see here

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there’s multiple color choices and

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there’s multiple different sizes that

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you can choose from does that make sense

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okay so how do you determine if your

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00:02:37,480 –> 00:02:41,380
product has a variation and therefore

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you need to go set up that parent child

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listing and Amazon

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well Amazon does have some guidelines

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that we can walk through to help us

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determine whether or not our product has

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a variation so thinking about your

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product you should ask yourself these

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00:02:52,330 –> 00:02:59,920
questions are the products fundamentally

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the same are there only a few specific

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00:02:59,920 –> 00:03:04,840
ways to products vary such as by size or

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00:03:02,470 –> 00:03:07,390
color what a customer except to find

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these together on the same product page

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and can they share a single title so

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remember we look at that our red women’s

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00:03:12,940 –> 00:03:16,810
t-shirt the Hanes t-shirt and you know

85
00:03:15,490 –> 00:03:18,160
that we’ve got all the different sizes

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00:03:16,810 –> 00:03:20,590
but then there’s all the different

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colors too so if you search yellow Hanes

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00:03:20,590 –> 00:03:24,100
women t-shirt you’re going to get that

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00:03:21,940 –> 00:03:26,860
same listing but with the yellow picture

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but he’s women’s t-shirt or whatever

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that listing was called that’s really

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going to stay the same and so that’s why

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they’re all in a parent-child variation

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setup is because they work under the

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same title another question you may be

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asking yourself where that kind of

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follows after that is when should you

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not a variation if you have multiple

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products amazon also has some guidance

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on this here’s what they suggest if you

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have different product types if your

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products would require

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completely different product

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descriptions if your products cannot be

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described by a single title if a

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customer would not expect to find the

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products together on a single page so if

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you’ve determined that your product does

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in fact have variations and you want to

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set a parent-child listing how do you do

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that

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you’re going to go to seller central and

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then manage your inventory from there is

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going to create a product detail page so

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you’re going to create your new product

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and then you go to classify now here’s

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something to keep in mind

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Amazon does not a while variations to be

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free

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for every category that they sell in and

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there is no comprehensive list that

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tells you whether a product category

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allows variations or not so

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unfortunately you’re just going to have

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to go in and try it and if it works

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congratulations you’re in a category

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that allows variations and if it doesn’t

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you’re not and you’re just going to have

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to create separate listing there’s no

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guy that’s further than that that I

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could find anywhere searching on Amazon

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or Google search or anything like that

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you just got to go out and try it so

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helpful do you have questions about

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parent child’s variations I and not an

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expert I just started learning about

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this stuff myself these my product the

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first prod and watch does not need a

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variation so this was something not even

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on my radar to be honest but go ahead

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leave those comments down in the

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description below if you have them other

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people in the community can jump in and

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help answer them or I’m happy to go out

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and do some more research I will talk to

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you guys next week

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take care

You can watch this video at The Bootstrap Boutique YouTube channel here.
You can watch The Bootstrap Boutique YouTube Channel videos here.

How To Choose A Private Label Niche with SellZee

https://youtu.be/ham-kildlJ0

Josh from Sellzee is back this week to share a Private Label ranking spreadsheet that will help us all quickly decide which niches are the best for launching new products.  Beat analysis paralysis and start taking action!

Get the Sellzee app.

Transcript:

1
00:00:00,089 –> 00:00:08,700
raise your hand if you’ve ever suffered

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00:00:02,340 –> 00:00:11,099
from analysis paralysis everybody

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welcome back for another episode of the

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bootstrap boutique where beginners build

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businesses I am so glad you’re here

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today because my friend Josh from cell Z

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is back you remember when we did a

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walkthrough of how to use his cell Z app

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to go out and scan well he has created

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something for us private label folks and

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it is a rancor spreadsheet because if

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you were anything like me when you’re

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going through the product research phase

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of trying to watch a private label

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product on Amazon I had sheets full of

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product ideas that they didn’t have like

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anything to do with each other they were

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all over the place and it’s really hard

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when you’re not comparing apples to

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apples on like different niches that you

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could go into which one is the best one

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to launch it and that can hold you back

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from taking action for way too long so

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Josh is going to show us how to use this

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spreadsheet to rank the different niches

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niches whatever however you want to say

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it that you have narrowed down to so you

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can make that decision with confidence

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and move forward and launch your private

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label product on Amazon I am going to

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shut my mouth and let Josh walk you

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through how to do it I will talk to you

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guys next week here comes Josh take care

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hello everyone this is Josh from Scelzi

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Scelzi is the mobile scouting app that

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helps you source without remorse hey

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today we’re going to be talking about

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choosing a private label product to

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launch and if you’re in the private

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label research phase where you’re

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researching possible products to launch

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you can probably appreciate that it’s

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really easy to get paralyzed by having

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too many options and obviously everyone

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in the community touts taking action is

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the most important thing it’s a little

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hard to take action when you’re

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paralyzed on the first step of which

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product do I choose you might have 15 20

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30 or even more possible niches that you

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want to launch into you just have no

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idea what is the best one you have some

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currently you have some tools that help

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you understand what it what are some

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attractive niches to launch into but

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what if you have 20

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different options and you want to know

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what is the best option what we’re going

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to do today is show you a free tool that

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you can download either on the bootstrap

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boutique YouTube channel which you’re

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probably watching right now or you can

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head over to Scelzi and download this

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free tool that will take all of your

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possible niches and tell you what the

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best one to launch into is this is what

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the tool looks like it’s already

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populated with data I want to show you

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what it can do first and then I’ll show

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you how to do it so what I’m doing here

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is I’ve looked I’ve loaded the data for

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five different niches that I’m looking

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at I’m looking at these are obviously a

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little bit of a joke but garlic press

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adult diapers mens wigs bamboo sticks

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and hair grease which is inspired by

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soul glow from coming to America now if

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I was looking at these five niches I’m

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using a score card currently to rank

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these five niches across 25 different

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dimensions and the score card that I’m

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using right now is Scelzi up here at the

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top you can choose the type of score

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card that you want to use now there’s

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like as I said there’s 25 different

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dimensions that we’re looking at in a

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Cell z-score card but they’re all

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related to six key themes that we know

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are important to private label products

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election which is number one does the

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product sell for more than twenty

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dollars number two can you fit it in a

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shoe box number three does the niche

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itself sell at least 3,000 units a month

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number four is the niche deep enough

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meaning the people at the bottom of the

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niche cell have meaningful sales as well

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number four is there anybody in the top

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five or so listings with less than 50 to

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100 reviews so that I know I can

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actually have a chance of getting my

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product ranked on the first page and

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finally number six is it a simple

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product like is it not breakable is it

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not have too many moving parts we’re

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really focused on the first five of

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those because they’re quantitative in

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nature but you can also tell the

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scorecard whether or not it’s a simple

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product as well by manually putting in

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that information and we’ll show you how

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to do that in a second so that’s the

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idea here you’re loading the data in and

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you’re getting the results back in terms

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of what is the best product now let’s

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actually show you how to do that so this

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is where you’re obviously going to start

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from you’re going to

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on the Amazon page you’re researching a

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niche and you want to get the data for

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that niche so whether you’re using

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Jungle Scout or some other tool like

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unicorn Smasher let’s show you how to do

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it with jungle scout for example so I’m

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going to actually open up the extension

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and it’s going to parse all the data on

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the page and what I want to do is wait

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for it to finish loading and then I’m

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going to hit the export button and I’m

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going to do that for all the different

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niches that I’m looking at so if I’m

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looking at hair grease I’m going to do

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the same thing on that and hit export

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okay and then when you’ve got all those

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files exported into a specific folder

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you can load them in with one click into

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the tool so I’m going to clear out the

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data so you can see how this works from

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scratch I’m starting from scratch I’m

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using the Scelzi scorecard right now I’m

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going to hit the import niches button

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and point to a folder where I have all

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of my niche CSV files stored I’m just

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going to hit OK and then it’s going to

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tell me my data is locked and loaded and

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it’s saying garlic press is the best

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option it gives you a little summary

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over here

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the average scorecard rank across all

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the dimensions that are used in the

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Scelzi scorecard as 2.4 that’s the best

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out of all of these 5 options the niches

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sales in total is 13.5 thousand average

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sales rank of 9600 average price of 12

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so that I can tell right here that even

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though this is the best niche out of all

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5 of these it has an issue with price

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because the price is not greater than

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$20 also there’s too many reviews but

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even despite that it’s ranked first

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across the scorecard now you can

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actually change the scorecard up here

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you can use the jungle Scout scorecard

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which actually ranks adult diapers

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number one and you can go into the

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ranking page and choose custom settings

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for each of your scorecards so you can

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define whether or not you want to use

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unit sales or page rank as the way to

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define who’s the first seller in the

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niche is the first seller in the niche

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defined by unit sales

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defined by PageRank shoebox volume if

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you just if you wanted to use a

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different volume you can plug that in

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here in terms of the number of units

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that you’re looking for in the whole

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niche that’s what you put in here over

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all units sold we’re looking at for

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three thousand at least looking for a

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threshold of 250 so any individual

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listing we want it to be selling at

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least 215 per month we’re looking for

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opportunities where they’re less than 55

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reviews so that’s where you put in your

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custom settings and then here’s where

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the score cards happened by the way all

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this stuff happens automatically so you

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don’t really have to touch the stuff

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unless you want to tweak it so a jungle

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Scout scorecard that you that you may or

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may not be familiar with is here and

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then the Scelzi scorecard is down here

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as you can see there’s about 25

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different metrics that the Scelzi

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scorecard is ranking on it’s as simple

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as that you never even really have to go

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into this page if you don’t want to you

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can just simply live on this page and

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import new niches if you export more

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niches into the folder all you got to do

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is hit the import niches again and it

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will load in that new data you guys ever

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forget these instructions there’s in a

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tab the first tab instructions walks you

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through step by step how to load your

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niche data into the tool hope you guys

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like this video if you have any

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questions please like comment subscribe

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and definitely take action choose the

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best product and don’t overthink it

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there’s no such thing as a perfect

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product but there’s always the best

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product till next time

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thank you guys

You can watch this video at The Bootstrap Boutique YouTube channel here.
You can watch The Bootstrap Boutique YouTube Channel videos here.

AMAZON FBA: Analyzing My Private Label Competition

Private Label Competition

Today, I’m answering a fellow bootstrappers question about my private label competition. How much are my competitors selling each month? How many reviews do they have?

I also discuss why I thought this would be a good first label product, and why I was wrong. Don’t make the same assumption that I did!

Transcript:

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keep us questions coming because this

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was fun hey welcome back to another

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episode of the strap boutique revision

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or still businesses I am glad you’re

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here because today I am answering a

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question from a fellow bootstrap or

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towel bank I apologize if that’s not how

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you say your name but Cal asks do you

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mind telling us about the competition

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status of your product like how many

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items under the keyword search how many

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sales and reviews are the top ten

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sellers this is an awesome question

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because I have talked before in previous

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videos about how I think I picked the

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category that was a little bit too

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competitive especially for a first

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product but I never really went into

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what that means so I went to Amazon and

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I pulled my main keyword and using

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jungle scout pulls the data on the top

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10 competitors and I’ve got that a

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little spreadsheet for you so let’s go

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over to the computer and take a look ok

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so like I said I just took this

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information in a spreadsheet for you

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guys so we can talk over it I didn’t do

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the jungle Scouts screenshot because

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there’s a lot of information in there

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it’s not really pertinent to what we

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wanted to talk about as far as

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discussing like reviews and stuff just a

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lot of extra information in there and

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then also I would have headed down a ton

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of blurring and all that fun stuff so

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again just to recap I went to Amazon

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type in my main keyword and use the

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jungle Scout karmic stitch and to pull

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out the list information on the top ten

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products so when I say that I think I

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might have take something a little too

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competitive for my first product you

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probably see what I’m talking about the

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number one product there has on this

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5000 sales a month estimated the number

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two product has over 900 sales a month

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estimated and then there’s a couple a

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little bit further down the charts that

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have 483 and then over 500 and then

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there’s a ton of reviews on this product

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also right and finally it not a lot of

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two and three star reviews here that

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would indicate that there’s something

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you can go in and improve and so that is

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why I say probably was not the best

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place to go in and choose a product for

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my very first listing it’s a little

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tricky comparing this to comparing what

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I was looking at back in

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September October December oh no its

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first finding this product because the

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rankings on Amazon rot static so what is

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pulling as the top 10 products today is

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probably not the same top 10 products

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that we’re pulling boy back when I will

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tell you that that top product that

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4950 sales a month product is the same

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one that was number one last time and

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what I think is interesting about that

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is that this product it ranks number one

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for my main keyword however if I was

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searching for the product I sell and I

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saw that it’s close but it’s not the

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same thing someone searching for my

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product and searching for that number

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one product could if they’re not being

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really particular so yeah that one looks

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fine but they’re not apples to apples

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and so that’s very interesting to me

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when I search around with like different

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variations or the keyword that one

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almost always is the very top keyword so

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this person this company has done a

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really good job with their listing

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because they’re ranking extremely well

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and they’re continuing to write

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extremely well for things that are not

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their absolute number one focus so it’s

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just been very interesting to me I’ve

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really spent a lot of time as you can

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imagine analyzing your listing and

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trying to figure out how they’re doing

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that so well they do have that enhance

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brand content so they’re listing is

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really nice they’ve got great photos

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they have that you can see lots of

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really good reviews and so in there a

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top there a top top tough competitor for

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sure going through this list the only

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ones that I would say are like real

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competition for me and why when I when I

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back out the ones that aren’t exactly

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what I’m selling I would see number five

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Number six number nine and number ten so

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let’s just highlight here by oh my

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computer says slow maybe here we go five

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six

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so these two right here this is what I

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was looking at back then Singh okay I

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can compete with this right and then

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nine and ten

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looking at these also and saying well

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that’s going to be tougher but you know

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I’m not not not scared of them basically

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because they’re listings aren’t as

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strong I don’t think and then there was

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obviously other ones there because like

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I said all of these were not would not

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have been the same one because things

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are going to change a lot over six

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months so when what I was doing and I’ll

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tell you what I was doing wrong is I was

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thinking about this and saying well I

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can back out number one because that’s

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not a direct competitor to me I can back

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out number two because that’s not a

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direct competitor to me Amazon is still

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going to write them the way they’re

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going to rank them whether or not I

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think they’re a direct competitor so

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that’s why I want you to keep in mind

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here and why I thought this was a great

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question and wanted to put together the

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data to show why I made the decision I

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made which was like hey well these

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people weren’t really doing what I’m

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doing so I’m safe to go in with this

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product but why it was a nice site maybe

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not the best idea is because oh actually

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Amazon still thinks are my competitor so

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it does really matter what I think in

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that case and just keep that in mind

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when you’re going through and you’re

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searching for your products that just

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because you don’t think somebody is

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selling to the same customer that

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someone else that has like a ton of

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reviews a ton of sales has Amazon may

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still think that and Amazon is still

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going to put you up against that other

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listing that has the two thousand reuse

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and the five thousand month sales per

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month and you know your little product

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is just starting out it’s not going to

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be easy to do that so we people talked

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about looking for products with low

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competition this is what they’re talking

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about because I thought I was doing low

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competition but I wasn’t I’m competing

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you know against these ten products and

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so it’s just you know it’s something

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that you’ve got to keep in mind and I

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think where I trip myself up so I will

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be smarter about that in the future for

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sure

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if you guys have any questions about

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this any other questions in general that

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I can ask you and fill up a quick video

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for you to walk through some stuff I’d

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be happy to do that you know what

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to do leave them in the comments below

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and I will talk to you next week

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take care

You can watch this video at The Bootstrap Boutique YouTube channel here.

You can watch more videos from The Bootstrap Boutique here.

Your One Word: Using Your One Word to Build Your Amazon FBA Business with Evan Carmichael

Get Your One Word here on Amazon.

Your One Word is the definitive guide to finding your guiding principal that will take your new business to the next level.

Evan was kind enough to join us at The Bootstrap Boutique to answer a few questions about Your One Word, how we can use our one word to better connect with our customers, when we should focus on finding our one word as beginner business owner, and how our one word can be used to grow our business.

Thanks Evan for sharing, come back anytime!

Transcript:

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can one word change your business I’ve

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been think so hey everybody welcome back

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00:00:05,850 –> 00:00:09,330
to another episode of the bootstrap

4
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boutique where beginners built

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businesses I am so glad you’re here

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today because we’re going to talk about

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how one word can change everything in

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your business so I think Carmichael is a

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big deal on YouTube so if you’re on

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YouTube which you’re watching this video

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you’re on YouTube you have probably

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heard of him he has like six hundred

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thousand plus subscribers to the YouTube

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channel where he talks about different

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ways that entrepreneurs can build

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businesses based off of successful

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people that have gone before it so he is

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such a big deal on YouTube you’re

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probably wondering why is he on your

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channel fair question I’d end up with us

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today because he wrote a book on your

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one word and he is here to answer some

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questions for us about how we can take

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your one word in the concept he outlines

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in his book and help apply to us as

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beginners building businesses what does

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one word mean Evan literally runs his

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business based off of his one word which

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for him is believe and it shapes

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everything that he does when it comes to

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how he built his business in his book

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Evan talks about back when he was

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getting started he was really in a rut

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and it wasn’t until he realized that

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what his core passion was was helping

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and believing in entrepreneurs as they

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start companies that will go on to

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change the world and he is actually on a

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mission to help 1 billion with a B

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billion entrepreneurs build businesses

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obviously there’s a little more to it

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than that but it’s not my story to tell

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Evan held it so much better than I could

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ever hope to relay it back to you

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so make sure that you go get your copy

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of your one word there’s a link in the

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description below I had the opportunity

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to read the book a couple of weeks ago

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and I really really enjoyed that a lot

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of value up out of it I think you will

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as well but as we’re going through and

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asking Evan a couple of questions about

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his book and about the one word

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philosophy I want you to do about how

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you can take your one word and apply it

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to the private label business that

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you’re doing on Amazon I got a ton of

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ideas about how I can take a word for

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belief and shape the Amazon private

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label

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that I’m building around it but then

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also how I can apply it to the bootstrap

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boutique and what we’re doing here so I

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got like double whammy value out of it I

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just loved this book

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so let’s turn it over to Evan hey Evan

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thanks so much for being here today tell

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us for those who don’t know about

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yourself please sir

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what’s up bootstrap boutique cars my

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name is Evan Carmichael I am the author

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of year one word the powerful secret to

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building a business and life that matter

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the book is basically about how to

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identify what the one most important

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core value is to you understanding that

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at a human level and then bringing that

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to your business to attract customers

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suppliers employees who love what you’re

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doing and building a business that has a

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movement behind it so you’re doing

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something that feels good and makes a

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lot of money as well so Meagan inviting

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me to join on and answer a couple

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questions and hopefully I’m going to

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give you some value today on her YouTube

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channel

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awesome right so Evan talks in his book

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about core selling which is a little

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different than if you’ve ever been

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through sales training and you are about

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feature selling and benefit selling core

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selling is really the next step in that

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process so Evan tell us how do we best

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move from selling features or benefits

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into core selling and what hit balls do

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you see people making along the way so

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this is an important concept I think a

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lot of people as a start of business

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they instinctively just start selling

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the features of what they do so

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basically what it is that you’re

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offering somewhere along the lines in

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selling you learn about selling on

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benefits right and benefits it’s not

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just the what that what you do but what

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the customer gets and sometimes that’s

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not the same thing right you put it into

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their perspective instead of your

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perspective and that’s how most

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companies sell and it works but it’s not

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as efficient or as effective as it could

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be the step-up and the ones that have

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really solid brands what they do is

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called core selling and it’s basically

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you’re not just selling what it is that

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you do what they get you’re selling the

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experience was the experience for the

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customer what is the why behind what

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you’re doing when people can connect to

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that on an emotional level when your

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customers understand that on an

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emotional level and they resonate with

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it I want you to get to the point where

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people will buy anything that you put

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out because it’s you putting it out and

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they don’t just automatically default to

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what am I get for it and how much does

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it cost me now yes it has to provide

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value its kind of help them it’s got to

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solve a real problem but I’m worried

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that you’re going to lose market share

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you’re going to lose customers as soon

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as your competitor drops their price by

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five cents or five dollars or $50 or

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whatever the threshold is in your

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business where if you stand for

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something important and you’re selling

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based off of your core then it creates a

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lot more brand loyalty and people pay

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more to work with you because they love

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what all about so let me give you a

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practical example I was talking in

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series this is somebody called in to my

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radio show

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and they sell landscaping services this

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is a super competitive business and this

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person has been in the business for a

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while now 10 15 years and it’s competing

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up against college kids and he was

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having a hard time separating himself

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from the competition and homeowners were

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saying why should I buy from you when I

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can just buy from the college kids down

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the street or high school kid down the

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street to cut my grass where it’s a lot

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cheaper to go with the high school kids

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it is to hire you

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and so if you’re looking at feature

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based selling you talk about how you cut

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the grass to a certain height on their

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lawn right and the tools that you’re

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using to really go out and do that and

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you know most customers they don’t

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really care they don’t care about the

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grass size they don’t care what tools

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are using secure that gets time if you

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move to benefit based selling you’re

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talking about how it’s convenient for

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them how you’re going to come once a

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week and it saves some time and they

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have a beautiful looking lawn right at

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the entity that’s what they care about

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but it still doesn’t help you stand out

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from the high school kids because the

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high school kids have shown the same

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thing they say I’m going to come and cut

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your lawn now I’m going to cut it once a

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week and it’s going to look beautiful

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and so I asked him why did he get into

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this business why’s it so important to

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him and he was telling me about how when

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you grew up his mom always spent time

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with him outside and that was their

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connection he would spend every weekend

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and a lot of times during the week

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outside with his mom just taking care of

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the property and he said I treat every

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lawn that I go take maintenance up I

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treat it like it’s my mom’s lon and

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right there

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he had me if I was in his area I would

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hire him

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and it wasn’t a con right it’s not

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what’s the messaging to convince them to

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buy from me it’s an authentic why I’m

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getting the experience what I’m buying

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is not just the grass being cut I’m

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getting the experience of knowing that

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my lawn is being taken after with care

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and with pride and I’m not worried that

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something’s going to happen to my

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property while he’s on it because he’s

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treating it like it’s his mom’s I know

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that he had that sense of dedication to

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it and I would pay more for that it

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would cost me 15 bucks to get a high

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school kids to come and cut my grass I

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would pay 50 for this guy to do it and

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it’s that sense of security and that

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emotional connection that is core

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selling that when people can connect

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with you on that same level things are

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going to buy more from you they’re going

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to pay more forward if you have a higher

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price option they’re going to tell their

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friends about you and now not everybody

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is going to connect with your message

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some people would hear that store and

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say I don’t care I don’t care about your

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mom maybe he doesn’t have a good

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relationship with his mom right like

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people have different reasons for not

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believing the same thing that you

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believe and that’s okay I want you to

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have a reason to stand out your core

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your human value what makes you special

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different unique as a human being and

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then you can bring to your business is

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what will be the magnet for you or push

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people away like the magnet comes

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together but if you flip it around

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it pushes people away I want that for

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your business I don’t want you to be the

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business for everybody I want some

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people to say what they’re doing is

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really stupid that’s great because if

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you don’t stand out if people don’t have

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a reason to talk about you then you’re

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never going to win you’re going to

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constantly play in the middle you

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community constantly playing the price

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game and it’s hard as an entrepreneur to

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win if you’re playing the price game

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it’s a good question we’re off the good

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start Thank You Megan flattery will get

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you everywhere with me

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so thank you for liking this question

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now here are the bootstrap boutique we

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are a community of beginners building

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businesses do you think that we should

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go out and immediately from the

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beginning try a sine r-1 more or

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about something that should grow and

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develop organically over time I think it

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really depends on the individual as I’ve

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walked people through the process of

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understanding the one word and there’s a

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lot of details and exercises in the book

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some people get it right away

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some people like boom they know if they

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have the self-awareness they’ve already

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been thinking about you know that a

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little bit about themselves the

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introspection over the years I guess and

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they just they’re ready for and they get

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it right away

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I wasn’t like that it took me a while to

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figure out what it was that I really

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deeply stood for a team beam and so I

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think it just depends so the people who

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get it right away

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great go out implement it immediately

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for the people who takes longer to

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really get understand that it’s not just

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a zero or one thing you’ll get closer to

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it some people pick the wrong one where

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to the start but the one word they

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picked isn’t the total opposite of what

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they stand for right like they’re here

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they want to get here and they go here

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right it’s close but it’s not quite here

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so they have to make an adjustment so

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every step along the process that you

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make gets you closer and closer to the

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awareness to understand what is your one

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word what is your most important core

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value and then that helps you apply it

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to your business so I wouldn’t say do

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nothing until you figure it out with

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100% certainty I’d say start if you have

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a degree of confidence and what it is

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then start and build around that start

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testing things out so trying it out on

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people so trying it out in the Facebook

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campaign or a YouTube video or a banner

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on your website try it out and see how

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to feel and if you get closer and closer

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to it you may need to make some

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adjustments along the way and that’s

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okay but each adjustment gets you closer

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to that ultimate step so what I was

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reading the book actually withdrawals

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evans exercises to go through inside my

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one word for what I did here at the

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bootstrap boutique and if you’ve been

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watching for any amount of time this is

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the word that should not surprise you

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it’s probably you’re probably going to

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like mad your head and like yeah that

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totally makes sense my one word for the

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bootstrap Tajik is share so Evan knowing

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that share is my learn work how should i

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use that to grow what I’m doing here at

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the beat strategy and so that’s really

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covered in detail in chapter 5 of the

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book it’s how to build a campaign so

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keep your earlier sections of the book

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or about how do you find your one word

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why is it so important what are some of

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the steps to do it how do you know that

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it’s the right word for you

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in Chapter five we start looking at how

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do you build a business campaign around

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this how do you start attracting

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customers to find you a lot of

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entrepreneurs sales and marketing is a

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pretty important issue they’re trying to

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really figure that out until this gives

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you the tool to use ideas like core

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selling to bringing more customers so

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looking at things like what are we going

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to name our company we’re going to name

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our new product a new service that we’re

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launching what are we going to create a

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logo and icon around what kind of fonts

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are we’re going to use what colors are

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we going to pick and why what music

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we’re going to use if it’s relevant

340
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what’s the credo we’re looking at share

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as an example what does that break down

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to what a share mean to you and to make

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that a clear message for the people and

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so what is the logo look like that is

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around share what font signify share all

346
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of those things make it important for

347
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when you’re building your campaign out

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that you want execute against the

349
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Facebook against YouTube against

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traditional advertising you want people

351
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to consume your message and feel it here

352
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or hate it

353
00:11:58,249 –> 00:12:03,379
which is fine some people say share

354
00:12:00,139 –> 00:12:05,269
that’s amazing someone who shares to try

355
00:12:03,379 –> 00:12:07,339
to help entrepreneurs I love that how do

356
00:12:05,269 –> 00:12:08,689
I sign up how do I get involved and some

357
00:12:07,339 –> 00:12:10,279
people look at they share it’s just

358
00:12:08,689 –> 00:12:12,910
that’s stupid that’s fluffy come on

359
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share give me something more tangible

360
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you know some people hate it it’s fine

361
00:12:15,230 –> 00:12:19,249
you know what those people music will

362
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never be good customers for you trying

363
00:12:19,249 –> 00:12:23,089
to appease the people who hate your

364
00:12:20,959 –> 00:12:24,949
message will never be customers will be

365
00:12:23,089 –> 00:12:26,480
a most difficult customers that give you

366
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the hardest time they’ll give you the

367
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most complaints

368
00:12:27,350 –> 00:12:30,589
they’ll never forward on business to you

369
00:12:29,059 –> 00:12:32,990
and so better to weed them up from the

370
00:12:30,589 –> 00:12:34,850
start and the people would be great pest

371
00:12:32,990 –> 00:12:37,129
history the people who love share and

372
00:12:34,850 –> 00:12:39,110
everything that it stands for if they’re

373
00:12:37,129 –> 00:12:40,999
looking at you versus five other people

374
00:12:39,110 –> 00:12:43,129
you’re not giving them a reason to come

375
00:12:40,999 –> 00:12:45,410
to you because it’s not both some people

376
00:12:43,129 –> 00:12:47,779
are so afraid to see what they stand for

377
00:12:45,410 –> 00:12:49,399
that they play in the safe middle and

378
00:12:47,779 –> 00:12:51,769
then they never get the business that

379
00:12:49,399 –> 00:12:53,389
they deserve so that’s the first step

380
00:12:51,769 –> 00:12:55,459
chapter 5 is about building a marketing

381
00:12:53,389 –> 00:12:58,490
campaign chapter 6 that gets into

382
00:12:55,459 –> 00:12:59,540
building culture so you know I know this

383
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channel is a lot about the startup

384
00:12:59,540 –> 00:13:02,689
entrepreneurs but as you build your

385
00:13:00,889 –> 00:13:04,309
business up you’re going to need a team

386
00:13:02,689 –> 00:13:06,319
you need to have people around you to

387
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help you build your big mission if you

388
00:13:06,319 –> 00:13:10,370
are trying to do something big you

389
00:13:07,639 –> 00:13:11,629
cannot do it all alone and as an

390
00:13:10,370 –> 00:13:13,999
entrepreneur you have a lot of great

391
00:13:11,629 –> 00:13:14,940
skills and a lot of things you’re doing

392
00:13:13,999 –> 00:13:16,380
that you probably shouldn’t be

393
00:13:14,940 –> 00:13:19,890
you should be delegating and outsourcing

394
00:13:16,380 –> 00:13:21,090
to other people and so a big mistake

395
00:13:19,890 –> 00:13:23,130
that entrepreneurs make when they’re

396
00:13:21,090 –> 00:13:25,770
building a team is they hire people just

397
00:13:23,130 –> 00:13:27,450
for the skills where you need to hire

398
00:13:25,770 –> 00:13:29,640
people based off of your value as well

399
00:13:27,450 –> 00:13:31,470
so if you’re hiring somebody and you’re

400
00:13:29,640 –> 00:13:33,570
one were to share then you want to bring

401
00:13:31,470 –> 00:13:35,160
on people who love share their one word

402
00:13:33,570 –> 00:13:37,230
doesn’t necessarily have to be shared

403
00:13:35,160 –> 00:13:39,990
it’s okay if it’s okay if it’s something

404
00:13:37,230 –> 00:13:42,690
slightly different what does she revolve

405
00:13:39,990 –> 00:13:44,910
around it somehow right if they think

406
00:13:42,690 –> 00:13:46,050
share is stupid then you’re never going

407
00:13:44,910 –> 00:13:47,460
to work well together just like you

408
00:13:46,050 –> 00:13:49,830
wouldn’t work well with a customer who

409
00:13:47,460 –> 00:13:51,480
thinks that share is stupid you’re never

410
00:13:49,830 –> 00:13:53,340
going to work well as a team who feels

411
00:13:51,480 –> 00:13:55,050
that way and so maybe you need a website

412
00:13:53,340 –> 00:13:58,110
and maybe you need to hire a programmer

413
00:13:55,050 –> 00:14:00,240
to help you you want a programmer who

414
00:13:58,110 –> 00:14:02,760
believes in Share who loves it who loves

415
00:14:00,240 –> 00:14:05,760
the mission and that’s going to be a

416
00:14:02,760 –> 00:14:07,380
great long-term relationship and asset

417
00:14:05,760 –> 00:14:08,430
for you in your business if you hire

418
00:14:07,380 –> 00:14:10,200
somebody just because they have

419
00:14:08,430 –> 00:14:12,120
programming skills and came at a good

420
00:14:10,200 –> 00:14:14,160
price you’re probably going to have a

421
00:14:12,120 –> 00:14:15,480
terrible relationship it’s going to be a

422
00:14:14,160 –> 00:14:17,070
terrible end product that you’re going

423
00:14:15,480 –> 00:14:18,870
to get for your business and it’s not

424
00:14:17,070 –> 00:14:20,730
one that you want to get into and again

425
00:14:18,870 –> 00:14:22,980
people don’t do the work of weeding that

426
00:14:20,730 –> 00:14:26,280
out so in the book as an example I show

427
00:14:22,980 –> 00:14:29,370
you how to post a job ad around your one

428
00:14:26,280 –> 00:14:31,560
word and I give examples and I’ll show

429
00:14:29,370 –> 00:14:34,920
you what I do with my my campaign around

430
00:14:31,560 –> 00:14:36,450
belief so my one word is believe and so

431
00:14:34,920 –> 00:14:37,830
I’ll lead off a job by saying I’m

432
00:14:36,450 –> 00:14:40,740
looking for a PHP programmer who

433
00:14:37,830 –> 00:14:43,080
believes in entrepreneurs and right away

434
00:14:40,740 –> 00:14:44,400
that’s going to weed people out to say

435
00:14:43,080 –> 00:14:46,170
that stupid I don’t want anything to do

436
00:14:44,400 –> 00:14:48,780
with it and some people will self select

437
00:14:46,170 –> 00:14:52,230
in a lot of people will see that and say

438
00:14:48,780 –> 00:14:54,120
huh I really like that message I believe

439
00:14:52,230 –> 00:14:55,440
the same thing that he believes I want

440
00:14:54,120 –> 00:14:58,050
to be a part of that company and that

441
00:14:55,440 –> 00:15:00,390
he’ll work harder on the job application

442
00:14:58,050 –> 00:15:03,089
in the interview process to prove

443
00:15:00,390 –> 00:15:05,370
himself or herself to come and work for

444
00:15:03,089 –> 00:15:07,230
me and that’s exactly what I want I want

445
00:15:05,370 –> 00:15:08,760
people to self-select aim or self select

446
00:15:07,230 –> 00:15:12,210
and I want that for your business as

447
00:15:08,760 –> 00:15:14,520
well there’s no one right value not that

448
00:15:12,210 –> 00:15:15,900
share is any better than believe or is

449
00:15:14,520 –> 00:15:17,400
any better than honest there’s any

450
00:15:15,900 –> 00:15:18,980
better than any of the other one words

451
00:15:17,400 –> 00:15:21,630
that people have was covered in the book

452
00:15:18,980 –> 00:15:23,220
but there is one right one for you and

453
00:15:21,630 –> 00:15:24,870
your enterprise and if everybody’s all

454
00:15:23,220 –> 00:15:26,760
over the place and there’s no aligning

455
00:15:24,870 –> 00:15:28,800
value you’re going to fail most

456
00:15:26,760 –> 00:15:31,500
companies especially

457
00:15:28,800 –> 00:15:33,269
they have this list of core values right

458
00:15:31,500 –> 00:15:34,860
these are the these are our core values

459
00:15:33,269 –> 00:15:36,630
and you open up their you know their

460
00:15:34,860 –> 00:15:38,040
business plan or their in your reports

461
00:15:36,630 –> 00:15:39,600
and see the core values and they have it

462
00:15:38,040 –> 00:15:42,720
on their plaques as you walk into their

463
00:15:39,600 –> 00:15:46,440
offices I bet you nobody in that company

464
00:15:42,720 –> 00:15:49,980
up to the CEO could recite the 13 core

465
00:15:46,440 –> 00:15:51,329
values that that company has and so if

466
00:15:49,980 –> 00:15:52,560
nobody knows what they are without

467
00:15:51,329 –> 00:15:54,990
looking them up how are you actually

468
00:15:52,560 –> 00:15:58,110
running your business through them right

469
00:15:54,990 –> 00:15:59,940
well you’re not and so that’s why you

470
00:15:58,110 –> 00:16:01,529
need to this is your chance to win you

471
00:15:59,940 –> 00:16:03,180
can destroy those big guys because you

472
00:16:01,529 –> 00:16:04,970
actually do stand for something you can

473
00:16:03,180 –> 00:16:06,870
be authentic around it and so

474
00:16:04,970 –> 00:16:08,640
propagating that message out letting

475
00:16:06,870 –> 00:16:10,320
people know what you’re looking for and

476
00:16:08,640 –> 00:16:12,570
building a team you’ll start bringing in

477
00:16:10,320 –> 00:16:14,850
the right people who will die to want to

478
00:16:12,570 –> 00:16:16,680
come work for you and in the last part

479
00:16:14,850 –> 00:16:18,959
chapter 7 in the book is of operations

480
00:16:16,680 –> 00:16:23,610
so that talks about how do we use our

481
00:16:18,959 –> 00:16:25,740
one word to attract investors to manage

482
00:16:23,610 –> 00:16:28,470
our clients to make difficult decisions

483
00:16:25,740 –> 00:16:29,550
in our company a lot of the most

484
00:16:28,470 –> 00:16:32,130
difficult decisions that you have to

485
00:16:29,550 –> 00:16:33,480
make as an entrepreneur are often

486
00:16:32,130 –> 00:16:36,209
difficult because money is attached to

487
00:16:33,480 –> 00:16:38,040
them because you want to make the money

488
00:16:36,209 –> 00:16:40,860
you want to say yes to the deal and get

489
00:16:38,040 –> 00:16:43,470
the money but it goes against it just

490
00:16:40,860 –> 00:16:45,390
feels wrong to do it for some reason and

491
00:16:43,470 –> 00:16:48,360
the answer is because it goes against

492
00:16:45,390 –> 00:16:50,339
one of your core values and so

493
00:16:48,360 –> 00:16:53,250
understanding what that is and giving

494
00:16:50,339 –> 00:16:55,950
examples in the book to really help what

495
00:16:53,250 –> 00:16:58,260
we do in the book is go through my story

496
00:16:55,950 –> 00:17:00,149
but also entrepreneurs who built a

497
00:16:58,260 –> 00:17:02,700
full-time business fifty thousand

498
00:17:00,149 –> 00:17:03,990
dollars a year off of their one word

499
00:17:02,700 –> 00:17:05,040
another one is build a half mil on

500
00:17:03,990 –> 00:17:07,079
business I’m really know the business

501
00:17:05,040 –> 00:17:09,350
five million dollar business and 150

502
00:17:07,079 –> 00:17:11,790
million dollar business how they’ve

503
00:17:09,350 –> 00:17:13,530
marketed their business how to build the

504
00:17:11,790 –> 00:17:15,419
culture on their business how they’ve

505
00:17:13,530 –> 00:17:16,530
built an entire operations around the

506
00:17:15,419 –> 00:17:18,179
business how it work

507
00:17:16,530 –> 00:17:20,520
there was no blueprint for how to do it

508
00:17:18,179 –> 00:17:21,689
and so by creating my story and also

509
00:17:20,520 –> 00:17:24,270
sharing the stories of all these

510
00:17:21,689 –> 00:17:25,770
entrepreneurs we found it so whether

511
00:17:24,270 –> 00:17:27,240
you’re just purely starting up when you

512
00:17:25,770 –> 00:17:28,439
look up to that $50,000 a year

513
00:17:27,240 –> 00:17:29,610
entrepreneur or whether you’ve already

514
00:17:28,439 –> 00:17:31,230
been in business you’re looking to get

515
00:17:29,610 –> 00:17:32,429
that five million dollar market beyond

516
00:17:31,230 –> 00:17:35,340
there’s some ways that you can learn

517
00:17:32,429 –> 00:17:35,910
from so Megan thank you so much for the

518
00:17:35,340 –> 00:17:38,309
opportunity

519
00:17:35,910 –> 00:17:39,840
hopefully these questions were we’re

520
00:17:38,309 –> 00:17:40,980
helpful the questions were helpful for

521
00:17:39,840 –> 00:17:41,460
the answers are helpful for your

522
00:17:40,980 –> 00:17:42,540
audience

523
00:17:41,460 –> 00:17:43,860
again I’m so

524
00:17:42,540 –> 00:17:45,780
that you found your one worth I’m

525
00:17:43,860 –> 00:17:47,670
excited to see what you are going to

526
00:17:45,780 –> 00:17:49,860
continue to share with your audience

527
00:17:47,670 –> 00:17:51,840
thank you guys so much for watching I

528
00:17:49,860 –> 00:17:54,120
believe in you I hope you continue to

529
00:17:51,840 –> 00:17:56,910
believe in yourself and whatever your

530
00:17:54,120 –> 00:17:57,390
one where it is much love guys I’ll see

531
00:17:56,910 –> 00:17:59,460
you soon

532
00:17:57,390 –> 00:18:00,840
this is been awesome of it thank you so

533
00:17:59,460 –> 00:18:02,580
much for sharing your time your

534
00:18:00,840 –> 00:18:04,260
knowledge with us bootstrappers here at

535
00:18:02,580 –> 00:18:06,540
the bootstrap boutique you are welcome

536
00:18:04,260 –> 00:18:08,280
back anytime your one worry is really

537
00:18:06,540 –> 00:18:09,900
about finding your guiding principle

538
00:18:08,280 –> 00:18:11,970
you’ll notice Evan said things that we

539
00:18:09,900 –> 00:18:14,010
have talked about in other videos what

540
00:18:11,970 –> 00:18:15,720
is your why that is a big part of

541
00:18:14,010 –> 00:18:17,640
finding your one word is what is your

542
00:18:15,720 –> 00:18:18,900
why for doing what you’re healing

543
00:18:17,640 –> 00:18:20,970
there’s a link in the description below

544
00:18:18,900 –> 00:18:23,160
to pick up Evans book you’re one more at

545
00:18:20,970 –> 00:18:24,960
Amazon so be sure you check that out I

546
00:18:23,160 –> 00:18:26,640
am such a fan of and I’ve already

547
00:18:24,960 –> 00:18:28,590
subscribed to his YouTube channel and I

548
00:18:26,640 –> 00:18:29,910
loved his book so definitely want to

549
00:18:28,590 –> 00:18:32,790
check out all the good stuff he’s doing

550
00:18:29,910 –> 00:18:34,620
online do you already have a one word in

551
00:18:32,790 –> 00:18:37,290
place a guiding philosophy that you’re

552
00:18:34,620 –> 00:18:39,210
using to direct where you’re going share

553
00:18:37,290 –> 00:18:41,190
down the comments below if you want to

554
00:18:39,210 –> 00:18:42,450
comment online share like Evan says some

555
00:18:41,190 –> 00:18:43,800
people are going to be like yeah that’s

556
00:18:42,450 –> 00:18:46,290
awesome if some people are going to be

557
00:18:43,800 –> 00:18:48,360
like us do it you can tell me it’s okay

558
00:18:46,290 –> 00:18:49,830
we’ve got down in the comments below I

559
00:18:48,360 –> 00:18:52,280
will talk to you next week

560
00:18:49,830 –> 00:18:52,280
take care

You can watch this video at The Bootstrap Boutique YouTube channel here.
You can watch The Bootstrap Boutique YouTube Channel videos here.

AMAZON FBA: When to Bootstrap and When to Pay Up

You guys know I’m all about bootstrapping – which I define as investing my time where I would otherwise invest money.

There are so many services out there that can help you manage a specific part of your business, but they all have a cost. How do you determine when you should spend your time and when you should spend your money?

Today I’m sharing a short case study for how I decided to make that decision. It is all going to come down to how much time you have, how much money you want to invest, and what your individual risk tolerance is for when things go wrong.

Mentioned in the video:
Tax Jar (affiliate link)

Transcript:

1
00:00:00,000 –> 00:00:05,580
when the bootstrap and when to pay up

2
00:00:01,709 –> 00:00:07,200
let’s talk about it hey welcome back for

3
00:00:05,580 –> 00:00:08,550
another episode of the bootstrap

4
00:00:07,200 –> 00:00:11,250
boutique where beginners build

5
00:00:08,550 –> 00:00:13,769
businesses you guys know I am all about

6
00:00:11,250 –> 00:00:15,719
bootstrapping which I define really as

7
00:00:13,769 –> 00:00:18,690
putting in time when I could otherwise

8
00:00:15,719 –> 00:00:21,570
put in money but there are some times

9
00:00:18,690 –> 00:00:24,300
when you should probably just pay for

10
00:00:21,570 –> 00:00:26,250
help or you may not be comfortable with

11
00:00:24,300 –> 00:00:27,779
trying to go it alone so let’s look at

12
00:00:26,250 –> 00:00:30,119
two different examples of how that

13
00:00:27,779 –> 00:00:31,500
applies to an FBA business when I think

14
00:00:30,119 –> 00:00:34,860
especially when you’re starting out you

15
00:00:31,500 –> 00:00:37,440
are ok to bootstrap in a time when I

16
00:00:34,860 –> 00:00:39,570
think you should probably pay for some

17
00:00:37,440 –> 00:00:41,940
expert opinions ok let’s talk about a

18
00:00:39,570 –> 00:00:44,129
time when I think it is totally fine to

19
00:00:41,940 –> 00:00:46,320
DIY it and that is when it comes to your

20
00:00:44,129 –> 00:00:49,680
feedback sequence after you made a sale

21
00:00:46,320 –> 00:00:51,690
on Amazon so we know that emailing

22
00:00:49,680 –> 00:00:53,850
customers and asking for reviews is a

23
00:00:51,690 –> 00:00:55,680
good way to actually get reviews on your

24
00:00:53,850 –> 00:00:58,170
product otherwise you’re just relying on

25
00:00:55,680 –> 00:00:59,489
people to rob whatever you’re selling so

26
00:00:58,170 –> 00:01:01,739
much as they come back and do it on

27
00:00:59,489 –> 00:01:03,390
their own volition some will they’ll do

28
00:01:01,739 –> 00:01:06,180
it all in their own without you asking

29
00:01:03,390 –> 00:01:09,119
most will not they need a little nudge

30
00:01:06,180 –> 00:01:10,979
nudge reminder so what you do is you

31
00:01:09,119 –> 00:01:14,340
just go into so essential and you can do

32
00:01:10,979 –> 00:01:15,750
this all manually it takes time but if

33
00:01:14,340 –> 00:01:18,270
you’re just sewing your first product

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say you’re selling 10 a day you write a

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form email you go in you copy you paste

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and you send it and it takes like five

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minutes a day actually I’m doing mine

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and just bashing then I’m doing on

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Wednesdays and Fridays takes a little

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bit of math because you want to make

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sure you’re not sending it before the

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customer actually would have received it

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so you gotta say ok if they did two day

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delivery I need to count back add a day

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for them to actually get their mail and

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open it up and that’s today I need to

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send it but it doesn’t have to be exact

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as long as it’s sometimes after when

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they should have received it it’s really

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not a big deal that is something I think

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you can absolutely do yourself again

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this is really true for at the beginning

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you probably only have one product you

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probably only have a couple of sales a

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day you know probably 10 15 20 if you’re

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like killing it but you can definitely

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do it yourself and there is a time later

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down the road when you want to use a

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third-party software because you are

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selling multiple products you have like

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hundreds of sales a day at that point

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right and you don’t want to spend that

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time sending out feedback request emails

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but at the beginning absolutely this is

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a place where we can save some money and

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who doesn’t want to do that now when do

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I think you should go pro some of you

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may debate and disagree with me that is

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totally fine I’m just talking about what

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I think from my personal comfort level

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my level of risk for how much and I

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willing to accept this I screw it up is

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going to be different it’s going to be

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different for everybody for me sales tax

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is an area where I really wanted some

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help so I got an account with tax jar

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where they’re telling me how much sales

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tax I owe to my state now because my

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products not priced that high because

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I’m not selling that many units I’ve

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only registered to collect sales tax in

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the state where I live where I have

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nexus I also think it’s a good idea just

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to get in do the work and get your hands

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dirty so you understand what’s going on

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so that’s even a way that while I’m

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paying for the tax to our account I’m

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going to file the sales tax myself

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they’re just going to help me kohli not

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information get it together and get it

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ready to go if you want to check out tag

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star if you’ve never used it before

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there’s a link in the description below

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you can go down and you can get a free

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trial so try it out is an affiliate link

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so if you use a product I get paid a

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little Commission it doesn’t cost any

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more you know how that stuff works I

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don’t really need to explain it to you I

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just like to be open oh and what I said

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earlier about only having a sales tax

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certificate for my state right now

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because that’s the main place where I

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have nexus that is not tax advice it is

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not legal advice you make your own

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decisions on that if I have learned

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anything about selling on Amazon it is

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that there are a ton of third-party

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services that will help you run a

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specific part of the business but they

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all have cost and you really need to

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weigh out for yourself where it makes

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sense to invest your money and where it

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makes sense to invest your time and is

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there may be a little mix of both that

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you can find in there so as I continue

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to find new stuff and you stuff and

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learn about it and like it I am happy to

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tell you guys about it but just now I

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have really also in the nitty-gritty

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weeds of doing this stuff because I

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think it’s important to learn the way to

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do it also just all hands-on so that’s

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what I’m doing any questions comments

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concerns please leave them in this

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scription below I will talk to you next

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time take care

You can watch this video at The Bootstrap Boutique YouTube channel here.

You can watch The Bootstrap Boutique YouTube Channel videos here.