We’ve spent a decade serving to individuals discover success as Amazon FBA sellers. And all through the years one of the constant questions we’ve acquired is that this: “Why do you promote programs in case you’re so profitable at promoting on Amazon?”
In at present’s episode we unpack why individuals could be curious, and even skeptical, about this and what has motivated us to promote programs on high of our success promoting on Amazon.
Whereas there’s one thing deeply fulfilling about serving to others develop their Amazon enterprise, from beginning out to changing into extra established and discovering success, there are extra causes we provide programs on promoting on Amazon. Hear at present as we unpack the ability of diversification, having an abundance mindset, and why we aren’t involved about “coaching our competitors.” Plus, an entire lot extra!
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- Why Amazon is the most effective place to focus your time and power to develop a reselling enterprise that brings in a full-time revenue.
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Episode 211 Transcript:
[INTRODUCTION]
[0:00:01.8] ANNOUNCER: Welcome to The Full-Time FBA Present. In every episode, it’s our objective that will help you flip part-time hours right into a full-time revenue, promoting nearly something on Amazon. Now, your hosts of the present, Stephen and Rebecca Smotherman.
[WELCOME]
[0:00:21.4] REBECCA: Good day there and welcome to a different episode of The Full Time FBA Present. At present, we’re on episode quantity 211 and we’re speaking about why we promote programs instructing different individuals promote on Amazon. I imply, if we’re profitable at promoting on Amazon, why would we promote programs to show individuals to try this?
And, as all the time, right here with me to speak about this subject is my cohost, Stephen Smotherman, additionally, my enterprise accomplice and my writing-in-course manufacturing accomplice.
[0:00:50.7] STEPHEN: Wait, we make programs?
[0:00:52.3] REBECCA: Sure, we do.
[0:00:52.4] STEPHEN: We promote programs?
[0:00:54.6] REBECCA: And we do a podcast collectively.
[0:00:56.0] STEPHEN: Sure, really, we do. We’re doing it proper now and I adore it.
[0:00:59.0] REBECCA: We love creating contents.
[0:01:00.8] STEPHEN: We actually do, and we’re going to reply that query that we get requested every now and then, “Why do you promote programs in case you’re so profitable on Amazon?”
[DISCUSSION]
[0:01:11.7] REBECCA: We’ve been requested loads of questions over the past 10 years of serving to individuals get began and serving to individuals discover success as Amazon FBA sellers and one of many questions that we’ve been requested a number of instances is, “Why do you promote programs in case you’re so profitable at promoting on Amazon your self?”
And I’ve to confess, once I first heard this query, I believed, “Properly, that’s bizarre, why wouldn’t we if we take pleasure in placing collectively content material and placing collectively programs?” As a result of like I stated, we each suppose that is enjoyable. We each actually take pleasure in writing, we take pleasure in making movies and audio, and we simply take pleasure in placing collectively content material, so, why wouldn’t we do it?
However since individuals have been asking us this query for over a decade now, we thought, “Let’s spend a while breaking that query down, after which we’ll reply it at present on the podcast.” So, it seems, individuals ask this query for a wide range of causes and we’ll discuss these causes at present.
And Stephen, I would like you to kick us off with one of many larger the explanation why you suppose that folks ask this query and the way our listeners at present can be taught an enormous lesson that they will apply to their very own Amazon enterprise from this query.
[0:02:20.0] STEPHEN: Yeah, so, super-quick, and Rebecca sort of already sort of alluded to this however the fast reply to the query is that this: We, as Amazon sellers, promote programs about promoting on Amazon as a result of it really is enjoyable for us and one thing we love to do, plus we get loads of pleasure out of serving to individuals develop their very own enterprise from begin to success, and it’s very fulfilling to assist individuals and we really feel like we’ve the information and expertise, the expertise, and due to that, we can assist individuals. So, why not assist them?
[0:02:46.8] REBECCA: Yeah, we actually do take pleasure in serving to individuals, any of you on the market do regularly get to assist different individuals, serve them in any sort of capability. You understand that it is extremely fulfilling that there’s simply one thing in us as people that I profit once I assist anyone else, it makes me really feel good, it provides me only a increase of serotonin and I simply take pleasure in it, and that’s included in serving to different individuals to find out about run a enterprise, and in order that’s an enormous a part of it as effectively.
[0:03:15.6] STEPHEN: Yeah, that’s just like the tremendous fast reply, , we take pleasure in it and we get loads of pleasure from it however that may make for an excellent brief podcast.
[0:03:23.6] REBECCA: Yeah, okay, we’re performed, that’s it.
[0:03:24.9] STEPHEN: All proper, let’s run the credit. Wait, we don’t have credit however there’s extra the explanation why we promote programs. So, when individuals say, “Why do you promote programs in case you’re so profitable promoting on Amazon?” A few of them really imply, “If promoting on Amazon is so profitable, then why aren’t you spending your whole time promoting on Amazon, as a substitute of additionally promoting programs?”
So, to reply this query, , it seems like they could suppose one thing’s slightly fishy happening right here and I get it. On the floor, it might probably appear sort of fishy, why would anyone promote a course in the event that they’re making actually good cash promoting on Amazon? However let’s take a minute to reply that extra detailed query and that’s, right here’s the reality: We do make a full-time revenue promoting on Amazon and we discovered a method to do it with solely spending part-time hours and we like solely spending part-time hours on our Amazon enterprise.
I imply, it gives us with a full-time revenue, however we additionally just like the idea of diversification. Mainly, not placing all of your eggs in a single basket, ? If the basket drops, all of the eggs get damaged however with revenue coming in from a number of sources, a number of streams as some could say, then that offers us extra flexibility, extra stability, and you might apply this in your Amazon enterprise in loads of alternative ways.
You understand, in case you’re simply doing retail arbitrage, effectively, diversify and increase to on-line arbitrage. You simply supply books or simply toys, then diversify your stock, and increase to incorporate different classes. The extra your Amazon enterprise is diversified, the extra strong it turns into as an income-generating machine as a result of like when COVID hit in 2020, we have been capable of hold our Amazon enterprise afloat as a result of we turned down the revenue stream of retail arbitrage and turned up the web arbitrage sourcing stream.
And so, when the largest menace of COVID handed, we may flip again up the revenue stream of retail arbitrage and , simply being diversified in our enterprise is an enormous a part of our long-term success path and ought to be part of your long-term success path. Now, with being diversified in your Amazon enterprise is admittedly necessary, you wish to be sure you add diversification on the proper time and that’s like an entire different episode that we’ll drop someday sooner or later.
[0:05:32.2] REBECCA: And there are different causes that folks could be asking us this query about why we promote programs, and so one other huge one is, when individuals ask that query, “Why do you promote programs in case you’re profitable promoting on Amazon?” what they could really imply is, “When you’re so profitable and also you discovered some method to be worthwhile at promoting on Amazon, why are you instructing others to try this in the event that they’re going to only be your competitors?”
Isn’t it true that the extra you train others, the talents and methods of make a full-time revenue on Amazon that the much less you’d be capable to promote due to the rise in competitors after which the much less you’d be capable to earn? And we’ve been listening to about this for the reason that early days. Look, , over 10 plus years in the past once we first began placing out content material, “Why would you prepare your competitors? Why would you train your competitors?”
And the straightforward reply is present in mindset and it’s discovered within the mindset and the attitude of the individual asking that query as a result of some individuals can see how instructing others promote on Amazon could be a menace to them and their very own enterprise however we simply don’t see it that method. Now we have an abundance mindset and we maintain on to the attitude that serving to one other individual succeed doesn’t have a unfavorable impression on our personal enterprise in any method.
Simply because anyone else is profitable, doesn’t imply we’re unsuccessful or we’re in any method placing up any sort of menace to our success and loads of these traces, right here’s some numbers simply to think about about how huge Amazon is as a platform proper now. Amazon as a vendor, sells round 12 million completely different gadgets on their platform. 12 million completely different gadgets however in case you add in the entire third-party sellers, such as you, the listener, and us, as we’re promoting on Amazon, then there’s over 400 million gadgets promoting on Amazon proper now.
After which, with Amazon having over 100 million Prime members, that’s a ton of merchandise that you would be able to promote and a ton of shoppers. So, 400 million gadgets, 100 million prime members, that’s a ton of merchandise, a ton of shoppers. In reality, Amazon is promoting round 17 million {dollars} value of merchandise an hour. That’s staggering, so no, we don’t fear about “coaching our competitors.”
So, all of that is in a country-wide stage for the US however we don’t even suppose we’re coaching our competitors on a neighborhood stage both. Like, in case you’re simply the place we stay in Texas, I’m not nervous about individuals on this space studying extra promote on Amazon after which changing into our competitors.
We prepare staff to exit and supply for stock for us and we simply haven’t been nervous in any respect that they might develop into our competitors and one of many individuals working for us even at one level, she already had an Amazon vendor account once we employed her and we educated her and she or he works for us for a couple of yr and now, she’s making a full-time revenue promoting on Amazon and our Amazon enterprise was not impacted negatively within the slightest.
She finds issues to promote that I’d by no means discover, that Stephen would by no means discover. She simply is doing her personal factor and I discover issues, I’m positive I discover issues that she both wouldn’t discover or would move on if she noticed it and was given that chance to purchase it. So, this can be a win-win state of affairs for us, we simply don’t suppose we’re coaching our competitors once we train different individuals about promote on Amazon.
[0:09:05.8] STEPHEN: Yeah and once more, the key motive we promote programs about promote on Amazon is as a result of it’s positive. We love to assist individuals, which leads me to a different motive individuals ask us why we promote programs and this one is one thing that we’ve been requested extra lately. When individuals say, “Why do you say programs in case you’re so profitable on Amazon?”
Some really imply, “When you’re making a full-time revenue promoting on Amazon, why do you promote programs?” If you wish to assist individuals and simply assist individuals succeed, why don’t you simply give away these programs free of charge?” and once more, I get it. The easy logic is that this, the individuals who get the free coaching, they’re going to be taught free of charge.
We assist free of charge and perhaps they’ll succeed free of charge besides that’s not what the information and even our life expertise has proven us and that is what I imply. What number of instances have you ever, give it some thought, what number of instances have you ever downloaded a free ebook? You understand, what number of of these books did you really end?
The info or the information as a result of I like to make use of the phrase pronounced each methods, the information reveals us that the quantity of people that really end a free book, they’re tremendous small particularly in the event that they’re a how-to book. Yeah, there are exceptions. You could be pondering, “Stephen, I downloaded your free Vendor Central suggestions book and I learn it from cowl to cowl” and effectively, congratulations however you aren’t the norm.
In reality, a few of you could be pondering that, “Oh, I’ve that free ebook amassing the digital mud on my laptop proper now and I’ve began it however I by no means completed it” or “Perhaps I haven’t even began it but, so I have to go end that ebook.” So, we’ve tried giving freely books, we’ve tried to provide away programs and we tried to promote programs for like 5 {dollars}, USD 17, and the reality is, is that most individuals don’t worth gadgets they get free of charge or tremendous low-cost.
Folks often don’t make investments their time in one thing they’ve gotten free of charge and so in reality, individuals are extra prepared to speculate their time in a ebook or a course that they’ve invested their hard-earned cash in.
[0:10:59.5] REBECCA: One other psychological motive that we promote programs and that we provide paid teaching is as a result of loads of instances individuals assume that if one thing is free that there’s probably not any worth to it. So, as Stephen was speaking about, all of the free ebooks which can be on the market, I went by a free book section and I sort of acquired to the place I finished downloading them as a result of my Kindle was simply filled with them and there was no method I used to be ever going to learn all of them.
[0:11:21.3] STEPHEN: Identical.
[0:11:21.9] REBECCA: After which the identical goes for programs. You understand, you might need seen some free five-day programs on the market or free programs on the positioning Udemy, and people, Stephen and I each have downloaded these and we’ve taken one or two of them however loads of instances whenever you get one thing like that free of charge, individuals may subconsciously be pondering, “Is it actually value my time if it’s free?”
We simply don’t worth issues extremely if we get it free of charge loads of the time. That’s not true 100% throughout the board however loads of the time it’s, and so our programs and our teaching, we put loads of effort and loads of time and loads of our information into it and we discover them to be of actually excessive worth, and they could be a huge time game-changing course for you in case you take them and our teaching is identical method.
And so we make you a promise with our programs and our teaching and we’re assured that in case you put within the arduous work that we train you on-line or coach you on that you just’re going to see success with these particular programs or simply general success with the teaching that we provide. We put a price on that, we put a value on it so that you could worth it and you’ll really be motivated to eat that content material, and that you will note the success that we actually know that you would be able to have in your personal Amazon enterprise.
[0:12:38.5] STEPHEN: Yeah, so we expect that if we give away our programs, we are going to really be doing you a disservice as a result of we’ve really tried to provide away our books and provides away our programs even to individuals we all know like, “Hey, you’ll be able to have a free entry to this course” after which they often don’t observe by and do something with it however individuals simply – they don’t ever appear to observe by whenever you give it away free of charge.
You understand who does observe by? Those that make investments their cash and their time to be taught the method that we train and take motion, that’s why we promote our programs and our teaching. It’s really in your profit and in your general success.
[0:13:12.4] REBECCA: So, simply to sort of wrap issues up why can we promote programs if we’re so profitable on Amazon, the primary motive is as a result of we love serving to individuals and we’d love that will help you. When you’d like us that will help you develop into a profitable Amazon vendor, then try our line of programs that we provide by going to fulltimefba.com/ourtrainings and in order for you much more assist, then try our 12-month teaching program, the place it’s our objective to get you to creating a full-time revenue throughout that 12 months.
Yow will discover out extra particulars about that at fulltimefba.com/teaching. Whichever path you determine to take, we’re right here that will help you alongside your method and we actually love to try this.
[0:13:51.1] STEPHEN: Sure.
[CLOSING CONVERSATION]
[0:13:55.1] REBECCA: Thanks once more for listening to this episode of The Full-Time FBA Present. As all the time, you’ll find the present notes and the transcript for this episode at fulltimefba.com/211 as a result of that is episode quantity 211 and whilst you’re there, be sure you are subscribed to The Full-Time FBA E-newsletter, at fulltimefba.com.
[0:14:14.0] STEPHEN: And subsequent week on the present, we’re going to be speaking about overcoming failure in your Amazon FBA enterprise. You’ll expertise failure every now and then, we’re going that will help you not let it get you down however really assist you to discover success by that failure. So, be a part of us subsequent week on The Full-Time FBA Present.
[OUTRO]
[0:14:32.4] ANNOUNCER: That’s all for this episode of The Full-Time FBA Present. So, head over to fulltimefba.com/podcast, the place one can find the present notes and hyperlinks from this episode. When you’re there, subscribe to our e-newsletter the place you’ll get a number of free downloads of our in style and useful Amazon FBA assets. Now, take motion on what you will have realized at present, so you’ll find success at turning part-time hours right into a full-time revenue with Amazon FBA.
[END]
