#102 - From Being a Pro Athlete to Selling on Amazon with Georgios Dimitriou I The Corey Ganim Show

#102 - From Being a Pro Athlete to Selling on Amazon with Georgios Dimitriou I The Corey Ganim Show Speaker 2: All right, guys, welcome back to The Corey Ganim Show. So, on this week's episode, we've got a little bit of a unique interview planned. So, my guest today is Georgios Dimitriou. Now, Georgios is an interesting guy because he was a former professional basketball player turned Amazon seller. He's based in Australia selling on Amazon US and he's doing just about a million a year in revenue, 99% wholesale. He's got his own Amazon wholesale software program that's in development that we're going to talk about. And he runs his own wholesale community, mainly based on YouTube. So what we're going to do is I'm going to ask him some questions about his business, get a feel for how he operates as an Australian selling in the US market. And he's going to flip the script and ask me some questions as well. So we think this is going to be a fun format. If you guys enjoy this episode, be sure to subscribe to my YouTube channel and like the video if you're watching on YouTube or if you're listening on Apple or Spotify. Be sure to leave a five-star review and then we are going to put links to his YouTube in the show notes and in the description as well. So be sure to go and subscribe to Georgios as well because he puts out a lot of really good content on Amazon Wholesale. So Georgios, with that intro out of the way, I appreciate you joining me today. Speaker 1: Thank you very much, Corey, for that. Thank you very much. Also, I'd like to say that I'm very happy to be here firstly. Thank you very much for organizing this. A lot of my followers also always talk about you and they're always like, oh, why don't you do something with Corey? So it's great to be here and yeah, I always like promoting your content to them because there's a lot of real insightful stuff. That really helps a lot of people, you know, just even from all levels on, you know, in the Amazon journey, even the experienced people have something to learn from you. So I'm real happy to be here. Speaker 2: I appreciate it, man. Well, I'm happy to have you and I know with the time difference, right? You're in Australia. I'm on the East Coast here in the US. It's kind of hard to coordinate times. I think, what time is it there for you right now? Speaker 1: It's morning, right? It's 6.30 a.m. Oh, a quarter to seven now. Speaker 2: Okay, wow. So, yeah, 4.45 p.m. here. So, we're way off. Speaker 1: Huge difference, yeah. Speaker 2: I know you're sleeping in your car today. Speaker 1: I'm always talking with people internationally all over the world, so it's fine. Speaker 2: Well, cool, man. Well, I'm excited to get into it. Well, first and foremost, I want to get into your background, right? Because in the intro, I mentioned that you were a professional basketball player at one point. So first of all, how did the basketball career start? And then how do you go from that to now selling on Amazon full time? Speaker 1: Yeah, sure. So I've always been in love with basketball. So yeah, from a young kid from like 10 years old, I was always in love with basketball. I'm real tall. So I'm six foot seven. Speaker 2: So yeah, I knew I remember seeing like you on video. I'm like, this guy's really tall. I can't tell how tall but I know he's tall. Speaker 1: Yeah. So I've always been inclined to play basketball. I loved it. So I left Australia in my when I was just just once I finished high school like I was still I wasn't even 18 yet. And I went to Europe. I had the option to go to the US to go to one college or to go to Europe and play pro straight away. I decided to go to Europe and play pro. So I did that straight away. I was playing pro. It was good. It was fun. I was making some money. I had some very serious injuries very early on. So at 22, I tore my first ACL. At 24, I tore my second ACL. So after that, in my mid-twenties from being pro, I was semi-pro and then I just kept it going because I loved it. But at one point, at some point, enough was enough. The money wasn't as good. So I played a total of around eight, nine years in Greece and a couple of years in Spain. A lot of fun. I can't say it was awesome, real good. But yeah, then I decided to come back. When I came back to Australia, I got into some salesy roles. I was doing a bit of real estate. And to tell you, to be honest, how did I transition to doing Amazon? I was doing real estate and I remember I was watching, I think his name is Stephan Graham. At the time, he was a real estate agent, straight up real estate agent. I was checking out real estate and I saw him collaborate with an Amazon seller who was on a private label. And I was just talking about how to do stuff and I was collaborating and I got interested in Amazon. So I started checking out that. So I checked out Amazon and I was going to get into a private label. And I was dabbling every night while I was working real estate at nighttime. I was looking at Amazon. So, but private label. I didn't end up doing a course, but then somehow Larry LeBasque, who was watching me at Amazon, popped up in front of me. He popped up in front of me. I'm like, okay, actually, I like that model. I like, it's very systematic. It's very, you know, the wholesale, of course. It's very systematic. It's very... Speaker 2: It's sales focused too, right? You're a sales guy. Speaker 1: And I like the business model. And to be honest, it's a funny story. So, a lot of times what you... When you do things in life, if there's a positive reinforcement, you continue doing it. So I remember when I sold my first house, there's a lot of negativity around it. So there's complaining buyers, complaining sellers and there's negativity around it. And even though I sold a $1.2 million house, I wasn't happy. Because all this negativity around it and it just so happens that I sold my first Amazon product at the same time and it was literally a $6 piece of cotton for sewing, a sewing kit, $6, nothing. And I was so much happier about the $6 little kit than I was with the house that I sold. That positive reinforcement just kept me going and I just kept doing that and That's how I really got into Amazon at that point, just by selling a little $6 sewing kit. Speaker 2: That's so cool. I love the fact that you recognize like, hey, I'm getting into real estate and I just sold this $1.2 million house, but I didn't really like anything about the process, even though it definitely made you a lot more money than selling a $6 sewing product on Amazon. The selling of the $6 sewing product, you were just like, hey, This actually lights me up, right? I can see myself doing more of this and doing this at scale. But now, so one of the questions that I have kind of going back to the basketball career, right? Because when I was growing up, basketball was my main sport. I love basketball. I love playing it. I loved playing it up until I think it was September of 2021. I actually tore my patellar tendon playing just like a pickup game on an outdoor court. So that was the day that I retired from basketball. So I feel your pain there. But what D1 colleges were you looking at? Did you have, I assume you probably had offers, right? If you went straight to play pro. Speaker 1: So here's the way that worked. I remember I was part of a program that would send Australian players to the US. And basically, the way you work, like, I'm not 100% sure if it was a D1 college straight off the bat, because I was still underaged. But the plan was that they were going to send me to a high school in New Jersey to prep me for half a year, where it was almost certainty that there will be D1 offers. So I was very young at the time and my parents were like, oh, we don't know anything about the US. You know, I have a Greek background. Let's go to Greece. Let's send you to Greece. So I'm not sure which college like would have taken me. But like what I do know is that from this program that I was being sent from Australia, every single player that went through that program went off to a Div 1 college. They were eventually recruited. So that's what I knew about it. But basically there was a high school in New Jersey that was ready for me. Speaker 2: Interesting. So, and I mean, if you were good enough to go straight to Europe to play pro, I mean, there's no reason you wouldn't have gotten picked up by a pretty good team in school. Speaker 1: At the time, 6'7", I was a two guard, real good three-point shot. Jump real high. Very, quite good. Quite good. Speaker 2: I was going to ask what position. So you were a two guard. Yeah. At six, seven. Speaker 1: Yeah. Yeah. Look, most of my, um, you know, uh, playing career, I was probably like a three, like a small forward and sometimes sometimes power forward six, six foot seven. After my injuries, I was more of a, of a four, like a power forward. But yeah, when my younger years, a two, three. Speaker 2: Nice. That's awesome, man. Yeah. I remember back in high school playing against some guys that, I mean, I played against some guys that ended up going to UNC, ended up going to Duke, ended up playing Big D1 and some of them went pro and I mean, they were just so much better than me. I knew I had no shot. Speaker 1: How tall are you, Corey? How tall are you? Speaker 2: 6'2". Speaker 1: I'm guessing you're probably a two guard as well, right? Speaker 2: No, so I would play more of a, actually a three or a four, right? Which would be a very small four, but we had We had actually three guys on my high school team that were there from Nigeria and they were 6'8", 6'8", and 6'9". So they'd kind of rotate. But through the four and the five and then, you know, I would kind of play the three or sub for one of them at the four. So, yeah, we had a lot of fun playing ball back then. Speaker 1: Yeah, of course, man. Of course. I still play every now and then. This year, I haven't played at all. Last time I played was last season. Speaker 2: Oh, really? Speaker 1: And funny story, I was third scorer in the category. Speaker 2: Really? Speaker 1: Even at my age now, yeah. Speaker 2: Damn, that's pretty good. Speaker 1: Yeah, not bad. Speaker 2: Nice man. Well, okay. So take us on the next steps of the journey, right? So you sell that first sewing product for $6 on and was that on amazon.com as well? So you just started out. Speaker 1: Oh, yeah. So just to preface it, I've not sold a single product anywhere else. I'm in Australia. I live in Australia. I sell in the US. And I've not sold in a single other country. So everything is straight up wholesale and straight up remote. Like I've never even been to the U.S. by the way. I've never been to the U.S. Speaker 2: like my first time. Speaker 1: I'm gonna go to the U.S. first time I think in like this year in May. I'm gonna go to the U.S. first time for a conference. But yeah, I've never been to the U.S. So it's completely remotely everything I've done. I've been living in Australia. I set up my company in the U.S., LLC. I've got my EIN, got all those, you know, the resale certificate, got all that stuff set up when I was, you know, back in 2018 when I started. So I've been selling for seven years. So the way it worked was I was still working in real estate. So 9 to 5 real estate, 9 to 5, 9 to 6. I had a gym and then I was working on Amazon from 8 p.m. to 1, 2 a.m. just trying to learn things and trying to do stuff. And basically the way I approached it, I would find products to buy. And then I'm like, okay, so this model would be $800. Okay, all right, $800. Let's see what I'm going to make back. The ROI is meant to be 40%. Okay, let's see how it works out. Am I going to make 40%? Okay, I made that 40%. It wasn't 40%, it was 35. Okay, fair enough. And I was doing that for a few months. I was making a bunch of mistakes, but I was prepared to make mistakes because I knew. Mistakes with small amounts of money is okay. They're learning experiences. That's the way I see it. So I was doing this and then, As time kept getting by, I was paying less attention to the real estate and I was more excited about Amazon. The interest was kind of going like that and it was kind of heading towards Amazon. I wasn't performing too well in the real estate job but I kept putting more and more money into the Amazon. I was making more money. And after around nine months, my earnings kind of were, I was making a bit more money from Amazon. So at that point I decided, okay, I think I'm going to stop real estate and just, I'll just throw in 30, $40,000 into this because I see the path to victory. I see the way I can make money and get the return that I want to make. So then I just decided no more real estate, all out Amazon. Speaker 2: That's awesome. So I love that you just decided one day you're like, hey, this is no longer a passion of mine. This Amazon thing is. So I'm going to double down on that. And what year was that? What year did you decide to really go all in on Amazon? Speaker 1: Either late 2018 or early 2019. Okay, nice. Speaker 2: And that's really, I mean, early 2019 is when I first started. January 2019 was when I started wholesale. And then I think July of 2019 is when I quit my corporate job and kind of went all in on wholesale. Speaker 1: What type of job were you doing before that? Speaker 2: I was in corporate sales. I was selling data storage for IBM and yeah, I was not enjoying it, was not very good at it, was probably about to get fired anyways. So I was just like, you know what, I like this Amazon thing a lot more, so I'm just going to do this. Speaker 1: So around the same time we started, yeah. Speaker 2: Yep, exactly. And so, okay, so you're living in Australia, but you're selling on Amazon US. What specific hoops did you have to jump through to be able to sell in the US as somebody who doesn't have a social security number or who's not a citizen? I assume it was probably difficult for you to get credit, right, or get credit cards? Speaker 1: Well, it's not that hard. People might think it's real difficult in their minds, but it's not that hard. You just need to do a few things. Honestly, all you need to do is Set up an LLC and get an EIN. So you can go to any registered agent in any state. If I have to tell you, I'd recommend go to Wyoming, go to Delaware, go to one of them states because it's not so much the sales tax. People keep thinking about sales tax. Don't worry about sales tax. If you're doing wholesale, you don't pay sales tax anyway. It's just that it's easy in those two states because they know how to set you up nice and fast. They're very professional and there's like so many businesses that their job is to set up your business. So you just type in the state, Wyoming, Delaware, registered agent, and you'll set it up. It won't take too long. I'm not too sure how long it takes these days. When I did it, it took less than a month. Not too sure these days how long it takes. So you want to get basically your EIN and your LLC. The EIN is what you're going to probably eventually use to get the equivalent of the social security number, which is the international, which is the ITIN. So you want to eventually try to get that. But it's not that important to get it straight away. You kind of want to get it at a later stage to allow you to do certain things. Once you get the LLC and the EIN, you basically want to find a prep center. I have a prep center in New Jersey that I use mostly in New Jersey and one in Utah. So you find a prep center and then you apply. In the state the prep center is located in, you apply for a resale certificate, which is, they're all very easy things to do. And once you set those three things up, you're ready to go really. In terms of banking, probably best option would be Wise. Low fees, international, you know, I actually have a U.S. bank. I was one of the few I was able to open up a U.S. bank account. But everyone else I've tried to recommend the same bank. They haven't been, you know, everyone else international I've tried to recommend to get the same bank. It hasn't been successful. Speaker 2: It's very difficult, yeah. Speaker 1: Yeah, it is very difficult. You have to actually visit the U.S. I was very lucky and I was able to open one up from Australia. But yeah, so I would recommend going to Wise. And just opening up a Wise account, you can do pretty much everything you need to do with a Wise. You have the card, you have the actual account, so you can use that nice and easily. And then you're ready to go, really. You're ready to go. You can do everything you need to do just through those mediums, really. Then you'd start reaching out to suppliers, reach out to as many as you can. There's so many ways you can actually find suppliers. And then you're pretty much ready to start buying as long as you have the capital. Speaker 2: So, were you using credit cards to buy in the early days? Like, were you able to get credit or were you just buying with cash? Speaker 1: No, credit is still not able to get credit in the US. Speaker 2: At all? Okay. Speaker 1: Yeah. There are a few ways that I'm looking at when I go to the US, but yeah, you need to actually be there in person to get a reliable credit card. Speaker 2: Got it. Because I figured a lot of international people are just buying inventory with cash. So when you're saying when you pay a supplier, you're just sending a wire or you're sending like an ACH. Speaker 1: Wire or just through debit card. Speaker 2: Oh, God, that hurts me so bad because I mean, if you've been doing that since 2018, you've literally lost out on probably $150,000, $200,000 worth of cash back, right? If you were just to do it all on a cash back card. People that have watched me for any amount of time know that I'm allergic to sending wires, right? Two and a half percent or three percent fee happily if it means that I get to use a credit card and set apart with that cash right away. That's personal preference. Speaker 1: There's some suppliers that don't accept, like one of my biggest suppliers doesn't accept credit card. Right. Like he wants, yeah, like a transfer. So, yeah, I get it. I get it. And one of the first, one of the things I really want to do when I go to the US is actually set up, find a way to get a credit card. Speaker 2: Definitely, yeah. Speaker 1: There's a few methods that I'm looking into, yeah, for sure. Speaker 2: Yeah, that should be, I mean, a top priority when you come here because I'm lucky that I have good credit, right? My dad had me as his, I guess as like an authorized user or just like he added me to his credit profile, I think early on, maybe when I was in high school. So we've been kind of building my personal credit for a long time now. Speaker 1: Which company would you recommend for someone in my shoes? Like someone that's international that wants to find, that's looking for a way to open up a credit card, which is the first card you would go for? Speaker 2: So the best cards, now it's hard to say internationally, right? Because I don't know, like I can give advice based on what I would normally give anybody advice. So it might work for you internationally, it might not. But what I tell people The best card to get as a wholesale seller is a Chase Inc Business Premier Card because you get unlimited 2% cash back on every transaction, but you get 2.5% cash back on transactions over 5K. So pretty much I'm sure everything. Yeah, that's everything we're buying. And you'd be shocked that extra half a percent in cash back adds up significantly. And so second best option would be a Capital One Spark, which is just unlimited 2% cash back. So there's not the extra half a percent kicker. But those two are the only two cards that I use for inventory. And then I use an Amex Gold for our operating expenses or for PPC spend, because you get, I think, four times the points for advertising spend with the gold up to 100K per year in spend. Speaker 1: Well, in Australia, I have an Amex Platinum now for my business that I have here because I do have a software startup for Amazon sellers and it's been gone through that and the amount of points I've accumulated from the Australian card is ridiculous. I'm going to be flying business class for a while. Speaker 2: Yeah, that's one of the huge perks of our business. Well, and let's touch on that, right? So I know you've got a software tool that you've been working on. How many years has that, well, not necessarily been in development, but really how many years has that product been around? When did you start it and what is it about? Speaker 1: Yeah, sure. Actually, I can touch on that. I've been building a software. It's funny. When I went to Greece during COVID time, I was meant to go on a one and a half month holiday and COVID struck and everything. Remember what happened back then in 2020? I got stuck in Greece for like eight months. Speaker 2: There are worse places to be stuck. Yes, I know. Speaker 1: There are worse places to be stuck. I get that. The house I was living in, it was five minutes from the beach or actually two minutes from the beach. There are worse places to be stuck. Beach every day is fine. It was a town but it was really relaxed. I was fine, I guess. But it got me thinking, like I remember someone said that anything that you can do on an Excel spreadsheet, you can turn that into a tool. And I developed this way of analyzing ASINs. Basically, I'll do I'd add all my suppliers details and the ASINs, the SKUs details in Excel spreadsheet. And then either I or a VA of mine would do some data entry regarding from the actual ASIN page into this Excel spreadsheet. And I'd had some equations, some algorithms set up, which would analyze the data entry points and it would score them. And then it would come up with a little score for every particular ASIN that we're looking at. That's the way I was kind of analyzing it. And I was very successful using this method because I'd score these because when you're doing research, a lot of times you've gone off massive price list, you'd throw them into a scanner, then you'll start analyzing the ASINs one by one. And then you'd probably need, if there's a lot of them, you'd probably start writing down on Excel spreadsheet and then you review later. Now, I was successful in this way. And I thought when I heard that, anything that you can turn into an Excel spreadsheet, Anything you do on Excel spreadsheet, you can turn it into a software, into a tool. It got me thinking like, maybe I can automate this whole process with the scoring and all these types of things so I can come up with a method to just find ASINs instantly. And one thing led to another. Obviously, I was making good money. So I decided to bootstrap the whole software. I've spent probably out of my own pocket more than 300,000 US on it, just building it up. Speaker 2: No investors, just to sell your money? Speaker 1: We've brought investors on now, but that's only been the last half year. That first amount, the first MVP was pretty much from out of my pocket. Luckily, Amazon earnings were good, so I could do that, so making good money from Amazon. Systematically, just under a million a year, every year, but the profit margin is quite high. Speaker 2: And I'd say it's... So a million in sales, you're saying, but at a good margin. Speaker 1: Yeah, very good margins. And I'd say it's mostly because of the methods I use to actually find the products. And yeah, so one thing led to another and I've built it now and I've launched it only in my community really. I haven't really taken it to other communities. So it's only my circle of friends, but yeah, the feedback is remarkable. It pretty much takes days of product research that you'll do. Like if you were to scan a 20,000 or 23,000 UPC price list and try to find The 50 ASINs or 20 ASINs that are good to sell. In most cases, you'll start applying some filtering filters and then you'll probably be left with like a thousand products that you have to look at one by one. Speaker 2: Still got to go through, right? Speaker 1: Yeah, you still have to go through them. You have to go to the listings and you have to visit them and look at them one by one, record all the data points. So it pretty much takes this phase and it turns it into like 30 minutes, maybe less depending on how many products. So it really helps you find the products you want to buy ASAP. Speaker 2: And does it allow you to push them straight into a PO? Like is there a purchase order building component as well? Speaker 1: Yes, there is. Speaker 2: So how does that work? Because that for me is one of our big pain points, right? Is we're doing the research and we find a list of products. Speaker 1: Let me bring it up here and let me try to screen share for you like just a few minutes and I can bring up a list and maybe I can do a little screen share. Speaker 2: Yeah, it should let you share your screen, but if you would talk through it just so for the folks listening on the podcast. Speaker 1: I'm just bringing it up here. Give me one second. Okay, let me see. Let's share screen. Unknown Speaker: Okay. All right. Speaker 2: There we go. Speaker 1: All right. We can see all that. Okay. So this is, this is a list here. There's around, there's around 5,000 or 4,870 products here. So basically, let me just make this even larger. So, okay. So basically when you bring in a product, so you have all these products all listed here. And the first we see is the image of the product. So you can see all the image, you can really zoom in there. You can see, you know, if you want to go real deep into the product and you can see all the images associated with it. And then when you hover over it, you can pretty much see the title for the product, the brand name, the any associated UPCs item. And if you put your suppliers details, you see them there as well. So you can see the supplier item number, the description, all those types of details. Now, your pricing is listed here, any alerts. So if it's a two pack, for example, you just type in the number two, let's say this product was a two pack, then it all auto adjusts and becomes a two pack. So this one's obviously very unprofitable as a two pack, but it is a one pack. There are alerts here, IP alerts. If the brand is actually selling the product, there's an alert there as well. So it tells you this one here, for example, the brand selling the product. Speaker 2: And how does it pick up whether the brand is selling it? Speaker 1: There's a lot of AI involved in this. There's a lot of AI involved and we detect that, yeah. Hazmat, multiple variations, we detect all that. So like, for example, just looking at this one, I'm going to bring up the offers table and show you all the people that are offering this product. So this one here and then show you how the brand is a seller. So I'm going to click on this button over here, the offers table. And right there, Milani Cosmetics, their summer product. So there are four FBA offers, two FBM offers. Here's all their pricing, their ratings, and the percentage of the buy box they've been winning. So in the last 30 days, they've been winning 81%, 91% over the last 90 days. So yeah, it shows you all this data. If there's, you know, the remaining 9% is probably from the solo that's no longer selling the product. So you can see all that data. But if you just click on the ASIN as well, You basically get like whatever you need to visit the actual listing on, you'll see it right in front of you. So you got all the images, you got the entire description and bullet points and sizes. You got an analysis of the profit and the calculation. If you need to see the chart in small view, you see this. In large view, you can just zoom in and you can look at it in a very large view. You got the break even line running through the middle so you understand if you're profitable or not profitable. Speaker 2: Oh, I like the break even line. I didn't realize that was a thing because you can quickly see it's like, all right, it's like in this case, right? Obviously this is just a random example, but it's like, okay, clearly the buy box is well below our break even the whole year. So this is one we can quickly disqualify. Speaker 1: We have the break in line, which helps you. And we also have the offers average line. So right now you see the offers, you see that line in the middle there, you see that the offers are below the average offer line. So you know that historically it's actually low. Speaker 2: Oh, that's nice too. It's a really nice feature to see the average new offer count because that's something that, at least for me, I've always got to go in and do just kind of like a quick glance and just kind of make a guess. It's like, okay, this is kind of, I can't tell the average, but I think we're kind of below the average. So yeah, that helps. Speaker 1: But what we do after that is interesting because we do something very interesting with the break-even line. So we have this algorithm that we place and it detects the overall average of, it detects the buy box difference And the break even line historically. So it gives and it scores that part. So we score all these different stats, like with the Amazon facet of it, we give that a score. The seller ranks facet, we give that a score. The buy box, we give that a score. And we actually score the break even. So how good your break even is in relation to the historic buy box price. So this one is obviously very weak. So the way it becomes so fast and why I say it to a lot of people that, you know, days of research can be done in, you know, like 20, 30 minutes, less than an hour, for example, is because we're looking at 4,870 products here. But if I just filter and I say, hey, show me products with a great, either break even score or even just the great Astro score. Astro score is an average of all the scores that you see. If I just say, show me products that have a score of more than, you know, average, for example, and I apply those filters, From 4,870 products, we're looking at the 147 products that have always been profitable now. See, notice in this column here is the break-even strength. Everything is green or above yellow. So everything is good. So you know that these products that you're looking at right now, historically, they've always been profitable. So that's part one. Now, if you want to keep filtering and how it becomes so fast, then you just say, well, let's add a few more filters and just say, let's filter out, or let's filter in products that have more than, More than 100 sales per month. Let's also only consider products that have more than X ROI, let's say 40% ROI. I only saw products with 40% ROI or more. Speaker 2: And do you mainly sell beauty? Because I see this particular example is all beauty products. Speaker 1: A lot of beauty and health. Beauty and health products, yeah. There's three levels of IP issues as well. We have high threat, medium threat and low threat. So, you know, some people might say, I'm okay with low threat. So you can say, okay, IP issues alerts. You can say, show me products that have a threat of less than medium. So only show me low or no threat. And probably want to avoid any products that have more than one, less than We've got two FBA sellers. There's only one FBA seller because they usually are exclusive sellers. So let's just say FBA offers more than one. And then let's just apply these filters. So from the initial 5,000, we're down to 10 products that are always gonna be profitable, that have been historically profitable. Maybe these yellow ones, they might not be as profitable, but you can rule, you can start inspecting them much, much faster from this view and you just see what's up, what you wanna buy. You can look at them, you can compare the offers here instantly. So yeah, when you're happy with what you're looking at, you just grab these and you add them to a short list. You just add them to a shortlist. You can look at these one by one, but that's why it takes from working hours on it, it takes 20, 30 minutes. Now I did this while I'm talking to you, narrating it. But if I go to the shortlist, let's just go to the shortlist that I have for this one. You send these products to a shortlist and then you can actually download it as a purchase order. So what happens is, let's just go to that one as well. This one video part nine. So you are looking at the products like this and you start basically allocating how many units you want to buy of every product. So for this one, there are recommendations. So this one, you know, it recommends you can buy up to 400 units considering the competition. So you just type in how many you want to buy. So I wrote 360 for these one. For this one, I put 96 units to buy and you add the quantity of units you want to buy. And then what you see at the top is an order starts forming. So you have in this order it's 1100 units. This is a small one, $2,500 worth of goods. Goods plus prep is this much. Amazon fees are that much. The revenue expected is this. 2,000 is the profit. And when you're happy with what you're looking at, you can just download the data and you can download it at the shortlist entirely, or you can download it as a purchase order. And if I download it as a purchase order, you basically have a view like this. There you go. So you have the UPCs, you have the name of the product, you have the cost, the quantity you're buying and the total order. So you can just grab this file and just send it off to your supplier. And you're ready to pretty much, yeah, to finish the business. So obviously I did this real fast without actually analyzing the products individually. You want to jump in, you know, you want to, you want to come in and look at each product individually, look at their charts, look at all these data. You want to, you want to go through these data points, but yeah, that's, that's basically the way this software works and you just get straight into the order straight away. So that's why I say, you know, like I'm not, This list was probably around 15,000 UPCs. We got it down to 10. Yeah, we got it down to 10. Now, obviously, my criteria was very high, so I could lower the criteria. I would say show me products with 30% ROI or more. Show me products that sold more than 50 units per month. There's literally so many different filters that you can actually apply and narrow down the products you want. If I was to go back to that list, we're looking at the amount of filters. You could filter, for example, by considering how many sellers there are. Let's say a product sells 1,000 units a month. And there are four sellers. So if you're gonna jump on, you'll be the fifth seller. So as the fifth seller on this ASIN, how many sales could I potentially get? You can actually filter by that number. So you can say, I want more than 200 sales, not for the listing, for me. You can even filter by that. The filters like really help you get to, you know, you can filter if the brand is a seller, you can like, let's filter and look at only ones where the brands are sellers. Just out of curiosity, let's see what it looks like. So these 157 items, all of these, the brand is actually a seller. So if you were to look at the charts, sorry, the offers, you'll see the brand's a seller here. Same brand here, Milani Cosmetics, and the brand is also Milani. Unknown Speaker: Here we go, Koki. If you click on this button here and you see that the brand is also a seller. Speaker 2: Now, if you're guys real quick, if you're listening to this on the podcast, right, you're really going to want to go back and watch this on YouTube. So go watch on my YouTube channel at Corey Ganim on YouTube. If you're listening on the podcast, because we are sharing screen, he's been sharing screen for the last 10 minutes, going through this tool in detail. And there's clearly lots of value here because, I mean, I see the value in greatly condensing the amount of time it takes to Go through especially a price list where you've got a list of UPCs, right? This is going to work best when you've got a big list of UPCs from your supplier and you can stick that into this list. And it's a little more powerful than your traditional UPC scanner from what I can see. So definitely go and watch this to get the full knowledge of kind of what's going on here. Speaker 1: Yeah. Yeah. Yeah, so this is pretty much the way the tool works. And yeah, so thanks to Amazon, I've been able to bootstrap this thing from the start and I only needed to get, I did need to get invested because when things start getting serious after a certain point and you need to, you know, investors help for various reasons. So yeah, I've been able to get this to MVP through my earning from Amazon. Speaker 2: And how many years has it been in development? Speaker 1: Well, on my own, around four years that I was developing it on my own. There's been many iterations of it, many mistakes made and various ways we've been, you know, changes and adjustments. But yeah, we brought some investors on in the last six months that were interested. And yeah, we've been able to push it to the state it's in at the moment. Speaker 2: So if somebody's listening or somebody's hopefully watching on YouTube and they're like, hey, this is a cool tool. I want to check it out. I know you said that it's available right now only to your community, but do you have plans to launch it to the public? Like, is there a way that somebody listening now could get their hands on like a trial or the tool in some way? Speaker 1: Yeah, yeah, for sure. Well, the best way would probably be just to maybe join my community at this point. I'm called The Remote Seller. Yeah, they're on YouTube. They can find me and through that, they can go to my Telegram. Maybe we can post my Telegram group somewhere there and they can get access to it from that way. But we will be going live, completely live and marketing all channels within probably one month. Speaker 2: Nice. Okay, so coming up soon. Speaker 1: Maybe even two weeks. Speaker 2: That's awesome. What's the plan from here? You've got the SaaS tool. You've got the Amazon business that's doing well. You're living in Australia. Where do you go from here? Speaker 1: Well, there is a thought to move to a different country, maybe the US, maybe some other tax-friendly country, you know, apart from the US. It depends on how things continue, you know, moving forward. But I would definitely like to really like now that, you know, if We start earning from the software. We'd really like to put a lot more money into the Amazon business as well and just grow them both. Grow the Amazon business to 10, 20 million a year. Hopefully the software will be helping a lot of people because now a lot of my profit has been going directly from my pocket straight to this software. Pretty much all of it because I'm paying a lot of money. You want to reinvest into the Amazon business to grow it, but I have a mortgage to pay. I have this house I live in. It's $1.4 million here in Australia, so it's a mortgage to pay. Speaker 2: What's the conversion on that? How much is that in US? Speaker 1: $1.4 million. I bought it at $1.15 actually, but the market just went up. Sure. 4 is around 800, 800 ish. Speaker 2: Okay. That's solid. That's a nice house then. Speaker 1: It's not bad. It's okay. But the, the, the Sydney real estate market is just ridiculous. It's just really expensive as it's ridiculous. Yes. Speaker 2: Yeah. That's where I live here in Charlotte. It's getting very expensive too. I mean, it's, it's pretty, it's getting hard to find an affordable house. That's not in a, you know, war zone here and in the Charlotte city limits. So I totally get that. Speaker 1: Well, what about your situation, Corey? So you've been selling around the same time as I've been selling, because I remember we've had some conversations on social media way back, like we've been talking a bit. So run me through your experience. Speaker 2: Yeah, so really I'm in year, well, I guess next month, almost exactly a month from today will be eight years that I've been on Amazon. So I think I just had one year head start on you. But I mean, dude, my plan is just to keep doing more of what I'm already doing, right? The Amazon business itself is more or less being run by my team, which is going well. I've got my wholesale network community, which the audience, if they've listened to me for any amount of time, they're familiar with that. So we're coaching people inside there. We've got our mastermind group that's going well and just more of the same, right? Just taking a lot of the profit from the wholesale network and from the wholesale business itself and then turning around and investing that into some assets. Buying stocks, buying real estate, lending out some of that money, right? So just continuing to invest and try to compound what I've already built. Speaker 1: Yeah, that's actually very interesting because I actually wanted to, before this meeting, I actually wanted to give my perspective of how people should actually treat this Amazon business. Speaker 2: Yeah, I'm all ears. I'm listening. Speaker 1: So a lot of people think of it as a business, but I don't, I'm one of the few people that I don't think of it as a business. I think of Amazon as an investment. And I'll tell you why. Just picture, instead of thinking business, think of stocks, for example. So you're investing into products which have a one month, which the window is one, two months. So you want to get that return. So you're going to apply some research. That's what you're going to do. You're researching this month to see which stocks you're going to buy. Which have a lifetime of two months and you see how much money you're going to make. So your goal after that point is to keep each stock you buy or ASIN or SKU, you know, to be profitable. So I don't think of it as a business because from my point of view, I don't, I buy the products, I send them to a prep center, the prep center sends them to Amazon and I make money. It's a very simple process. So I like to think of each ace I buy is like me buying a stock that I've decided to buy. I do some research or in this case product research, product analysis to decide which ones are going to do well. And the goal would be to, you know, if 5 out of 10 did well this month, I want next month 7 out of 10 to do well. I want the month after 9 out of 10 to do well. I want the fewest amount of ASIN, so I just need to improve my ASIN analysis game, but I treat it more like investing rather than having a business. I think that's a good way to look at this, especially for someone in my shoes where you're international and you're not running a warehouse. I think that's a good way to actually look at it. And I like that. Speaker 2: Sorry to cut you off, but I like that perspective, right? And I've heard of other people say it that way before, where you look at your inventory basically as your portfolio, right? You compare it to investing terms and it's like every ASIN, And your inventory is essentially like a stock in your portfolio. And some stocks and therefore some ASINs are going to overperform. They're going to make more money than you expected. And some are going to underperform. They're going to lose money or they're going to make less money than you expected. And just like in investing, right, you cut your losers. You get that money back, you reinvest it into your winners and you always look for the next winner. So I love that analogy and I don't think you're wrong in any way. I think you're actually spot on. Speaker 1: Yeah. A lot of people that are in my group always refer to you. So I'm very happy. That's another reason why I'm very happy to be talking to you now. So you also help a lot of sellers. You have a course and you help a lot of people. How's that been going? Speaker 2: It's been good, dude. Yeah. So the, the wholesale network is the main focus as far as helping other people along. So we've got two tiers of that community. The mastermind community is for sellers who are doing at least a million per year or more in sales. And then the network community is for folks who are either like our target market there is people who are doing arbitrage and they're transitioning to wholesale or they're people who are newer to wholesale and they're just looking to scale wholesale. So one thing that we don't do in our community is accept people who are brand new, who have never sold before. Because, and I'm sure you know this, right, because you've got a community of your own, it's much easier to get someone from, say, one to 10 than it is to get them from zero to one. So we like to work with people who already have some experience and either plug them into a better business model, aka wholesale if they're doing arbitrage, or just help them learn the fundamentals of wholesale if they're already doing it, but they want kind of that fast track mentality. But all in all, yeah, all in all going very well. Speaker 1: I'm very happy to hear that because a lot of people talk about it and I've seen your growth and I've seen the value you put out there and it's awesome. I saw that one video you did which was unbelievable and people keep talking about what you call live. You call suppliers live. That's what you need to do. I had a few of them. I had a recording once of me calling a supplier live. It was like 3 a.m. in the morning here. It was like normal time in the U.S. and my hair was like that. Speaker 2: Yeah, kind of like mine right now, right at the end of the day. Speaker 1: Your hair is fine compared to what my hair looked like and I showed it to some of my friends, some of my seller friends and like, yeah, you should post that. I'm like, I'm not posting that video. Look at me. Even though the result was great, like combining a lot of sellers to purchase from one particular supplier, And consider us one massive tool. We'll pool our money together and that was what we're organizing in this scenario. And it was a good video from the audio point of view. From the video, it was just terrible. So I'm like, I'm not posting that. Speaker 2: You could just post audio only and just post like some sort of backdrop or something. But I feel like people do really like those kind of videos because They're not edited. They're just authentic, right? They're seeing you from like the phone ringing in your hand so they know that you're literally calling that supplier from scratch and it's wherever the conversation goes, it goes. Sometimes it goes well and you get the account. Speaker 1: And also dealing with the pushback because obviously you're going to get pushback because Amazon sellers are like It's hard a lot of times to work with suppliers. There are many reasons. They want to go to a retail brick and mortar store or whatever rather than an Amazon seller. So dealing with that pushback that they're going to give you, it's very important to be able to do that. But what I tell people is that And that's why I'm going to plug in the software for a moment now. What I talk about is it's a numbers game. So you got to go through 100 suppliers, then at a minimum, 50, 60 suppliers. So you're going to probably call 500, you're probably going to land 50 to 100 accounts. Now, why I like going through, And the reason why I'm talking about AstroAdvanced Analytics to help you go through them is because you can go through the suppliers so much faster that you can confirm or confirm a supply if they're good or not, like instantly, just a few clicks. And then you can actually see if it's worth continuing a conversation with the supplier. Say, hey, you know, because if you can see some high volume ASINs, that is probably one of the first indicators that, yeah, okay, let's continue this conversation. Yeah, you see some high volumations, you can probably negotiate for some better discounts. And you say, okay, now we, you know, this, this, this supplier is worth talking more to because Firstly, they're willing to sell to me. Secondly, they have ASINs, they have SKUs, which translates to good ASINs that move in high volume. Okay, let's continue this conversation. Maybe I can buy 1,000 of these units and they'll give me a 15% discount, which brings my profitability way higher. So it's really just landing four or five good ones, in my opinion, and then just really continuing that conversation with those four or five. I don't talk to any suppliers anymore. I don't need to. I've got three or four good ones and I just keep recycling them every month. I just keep buying from them. Speaker 2: Same here. Yeah. And that's what we tell people, right? Is you don't do, you don't need a cold call. You don't need a prospect forever. It's just a phase of your business, which could last for 30 days. It could last for 90 days. It could last for three or four months, depending on how consistent you are. But once you find that core group of two, three, four or five really good suppliers, that's all you need, right? You don't need much more than that. Speaker 1: That's definitely, that's why I told people as well. And I've also said this thing because I've seen people that have had like a lot of capital to invest in it and they haven't been able to do something with this business. And I've seen people, you know, I've met people that have had almost like a million dollars ready to throw into Amazon. And you know what a million dollars could be. Like obviously it's hard work finding a million dollars worth of products, but a million dollars worth of, you know, buying one million dollars worth of goods today, this month that sells off within a month, you're probably making two mil plus a month in revenue. So I've seen people in that scenario that haven't been able to make anything work and I've seen people with, you know, 5, 10K, they start off with such a little amount and they're able to make things work like within maybe three months, you know, they're able to make things work. So I've seen both scenarios play out, you know, all my years as a seller and all my years, you know, kind of helping people. It's just about finding those 3-4 good suppliers and then knowing that, having the confidence to work with them. Like a lot of my suppliers right now, I pay up front. I pay 50% up front and then the other 50%, 2-3 weeks later, they allow that for me because we have that relationship. Speaker 2: Exactly. I love that, man. And listen, this has been a great conversation. So before we go ahead and cut it off, where can people find out more about you? Where can people go and follow you and learn about Astro as well? Speaker 1: Yeah, I'll say the best. We do have a website up for Astro. So if you just Google Astro Advanced Analytics, it is up. You can technically get access to Astro, but we still want to introduce a few more features. That's why I haven't gone all out promoting it. And in regards to me, the remote seller is how you'll find me on YouTube. And yeah, best way to talk those in the Telegram group that we have and that's all in the YouTube channel as well. You can find that. Speaker 2: Perfect. So then we'll link all those in the description below. Speaker 1: I'm pretty sure all my followers know you, but yeah, just Google Corey Ganim and they'll find you. I think you're probably, where would you prefer people to like see you on Instagram or YouTube? What's your preferred channel? Speaker 2: YouTube for sure, yeah. So for those watching on Georgios' channel, yeah, my YouTube at Corey Ganim and then for those watching on my channel, guys, we're going to put all of Georgios' contact information in the description if you're watching on YouTube and if you're listening on the podcast. We'll put that in the show notes. So Georgios, I appreciate the time, man. I had a good conversation. Hopefully, more people check you out and go check out Astro as well. Speaker 1: Thank you very much, Corey. It was real good. Thank you very much, man. Speaker 2: All right. We'll be back soon. Speaker 1: Cheers.