Amazon Product Development - Weekly Roundup Session by Mr. Kevin King. the Amazon FBA Guru

Amazon Product Development - Weekly Roundup Session by Mr. Kevin King. the Amazon FBA Guru 00:00:00 Yeah, 00:00:49 okay so Assalamu alaikum and hello everyone, and uh welcome to the E-commerce Galaxy weekly round up, and today we have Kevin King here; thank you so much, Kevin, for joining us today taking out some some time to guide us here. So, uh, you really don't need an introduction but we would like to have some intro about you, like how did you started your Amazon journey? And what are you doing nowadays? Sure. I'm glad to be here. Thanks for having me. Hello, everybody. Yeah, I've been doing e-commerce for more than 30 years. So before Google even existed or any of the current web browsers or search engines existed, I started doing e-commerce. And I started selling on Amazon in the year 2001. So about 20 years now on Amazon. 00:01:48 Doing the FBA, I started doing that six years ago in 2015. Before that, it was more wholesale and different types of selling on Amazon. Currently, I'm a partner or I own five different Amazon businesses that we sell millions of dollars of goods on Amazon, mostly in the U. S. I also do the training for Helium 10, the software company, their Freedom Ticket course, which is for beginners. Everybody gets for free if you are a Helium 10 member and then I do the advanced training called Helium 10 Elite which is a monthly training, uh, where we do about four hours of more advanced topics have special guest time. I host the Billion Dollar Seller Summit and Austin, uh, we do one virtual one a year and then one uh in person so that's for like people doing millions of dollars a year on Amazon. 00:02:39 Uh, I also brought another off-Amazon website, uh, that's not Shopify, but like an older software system that we use to run that. That's a calendar's business, calendars that you hang up on the wall. And then I also partner with a company called Product Savants, where we help current sellers actually find new opportunities of products to sell. So I'm pretty busy. Yeah, that's great. It's good to be busy, actually, nowadays. uh we are in a rushy uh you can say environment and in russia so it's good to be uh busy nowadays it is yeah okay so moving to the topic like amazon product development uh how do you do this part on the amazon site like what do you see in the amazon product that okay this is going to be a good one 00:03:38 and this is going to be uh you can say the launch launch is going to be easy for this product and we can scale it i don't know if any product is easy i mean my calendar business that i have for example i also sell those on amazon and for that particular product we don't do any launch no ppc at all never and we never do any launch no giveaways no discounts we just put the product up and The only launch, I guess you could say, is I have a list of customers that have been buying from me through the mail for 20 years. And so I will email them and say, hey, if you go to Amazon, the calendars are available on Amazon. 00:04:21 And so I send them, give them a special link through like helium10 . com slash gems. And they have all the different links there. Give them a link that has a keyword in it. I'll get probably 20, 30 sales. And that's enough to get the keyword association, the relevancy. And then from there, it picks up. And that business does a very nice profit every year without any kind of launch. Now, that's unusual. And the reason that works is because it's very niche. Those calendars are, there's not a lot of competition every year. And it's a very, very niche product. But for most products, you have to do a launch. The number that you've got to give away or the number that you've got to do search, find, buy, and rebase on varies depending on how competitive it is. 00:05:11 When I'm doing a new product research, I start with brand analytics. I don't start with Helium 10 or I don't start with any other tools. There's so many different ways to get product ideas. You can go look at Etsy. You can go look at Pinterest. You can use tools like Blackbox and Helium 10. Uh, just use your own ideas and check out different things you can look at what other people are selling. Get an idea of what they're selling by looking at their storefront and see what other things they're selling. You can look at reviews to see what complementary products are frequently bought together. There's so many different ways to come up with product ideas, and unfortunately a lot of people get stuck on it-it's a place where a lot of people like me just can't find any good products. 00:05:53 There's nothing good and that's because they're they're probably being too rigid. They're trying to make everything fit inside a box; they're trying to make everything fit. Like, here's my criteria, I have these 15 uh, checkpoints that I learned in a course. I have to make every one of them work if I can't find something that makes every one of them work then I can't find a good product, and so that's what limits a lot of people. But what I do is i start with brand analytics because for me it all starts with keyword demand. So, everything on Amazon starts with... I mean, you can launch if you have a brand new idea for a product and you want to develop it from scratch, and there's going to be more of that. 00:06:29 In the future on Amazon, that's great. If you're looking for something that already exists, something that you can get from Alibaba or you can from a factory in Pakistan or from wherever it may be, and you just want to modify it, you need to make sure there's some demand already on Amazon for that. Otherwise, it's going to be much more difficult. And so what I do is I start with the keyword demand. And so that's why I start with brand analytics. I go to brand analytics. I download the entire list for the previous month. And if I can do the previous quarter, I'll do that. But sometimes there's a gap between when Amazon gives the information. So I'll do the previous month. I download that data into a spreadsheet offline. 00:07:14 And then I sort that data. So the first thing I do is I basically eliminate anything that has an SFR greater than $500,000. Now, you don't have to do that. There's a lot of opportunity that's down there beyond $500,000. But for me, I'm looking for products that do at least $10,000 US dollars in sales per month. And so typically, there's going to be more of those that have keywords that are below $500,000. But if you're happy with smaller products, don't eliminate that. But that's what I do. So I eliminate the ones below $500,000. And then I go through and I eliminate any of them that have zeros in the click share conversion. 00:07:57 For example, maybe it says the first one has a 27% click share and then 10% conversion share. And the next one's 15% click share and 8% conversion share. And the next one's whatever, 40% click share and 0% conversion share. Well, anything that has 0% conversion share with a lot of clicks like that tells me that someone is manipulating the system. That's someone doing maybe some company in Bangladesh or somebody doing a bunch of add to carts where they're adding to the cart and they're just not buying it, trying to manipulate the rank somehow. Or maybe they're doing some sort of outside traffic thing. They're doing something. It's suspicious. And so I just don't want to compete against people that are not playing by the rules. It just makes it harder. 00:08:47 And so I eliminate those. So I delete all those products that have that in it. So now maybe instead of half a million products, maybe there's 400,000 left or something like that. Then what I do is I create a new column in the spreadsheet. And that new column in the spreadsheet is total conversion share. So once I've gotten all the zeros out, then I will add a column. And it's basically the conversion share of number one, conversion share of number two, and the conversion share of number three all added together. And you get a total. And you just run that in a simple little spreadsheet. And that total for me, and this is an arbitrary number. This is not a magic number, but you have to have your own number. 00:09:26 But for me, just to eliminate it down, anything that's above 40%, I eliminate those keywords. Because to me, if the top three sellers have 40% or less of the market share of the buys, that means 60% of the buys are open to everybody else. And that's a good number. The higher, the better. But if the top three, sometimes the top three added together have like 90% of all the buys, that means that there's only 10% of the purchases can come from everybody else. And that's a very small number, sometimes that number is big and it's okay but I'm just I'm just trying to make this a simple process to get find something quickly, you know. 00:10:12 You could leave you could do this change all these numbers and there's still lots of opportunity, but I'm just trying to narrow it down uh to the smallest group because I have to go through these manually so once I've done that maybe now there's only I don't know sixty thousand eighty thousand keywords left something like that maybe a hundred thousand and then I'll I'll I'll just start looking through them manually. I don't normally start at the top, I'll start somewhere in the middle, maybe SFR 20,000. And I just scroll down, and I use my intuition, my brain. Once you've done this for a while, you start seeing keywords you know is too competitive. You start seeing garbage press. You're like, no. You see other things. You just skip over them. 00:10:53 But then you'll see some keywords that are interesting. And I stay away from all the branded ones like Disney or if it's holidays like Christmas or Halloween or something like that. And I start looking for keywords. And when I find one that looks interesting, I will go punch it into Amazon. And then I'll run the Helium 10 x-ray extension on it and take a look at how is the market. What's the sales look like? How's the competition? What are the reviews? The next thing I look at is the number of reviews. How many of these sellers have more than 500 reviews? And if a lot of them do, that's a bad sign. That means it's going to be much more competitive. If most of them have less than 500, then that's a good sign. 00:11:42 That means maybe I can come in here and have a chance to compete more easily. And so then if you find something, I don't really pay too much attention to the star rating or the opportunity score on that tool. I'm more looking at the reviews and then the review rate, and what are the sales. And if the sales are, if that market says that there's 3,000 sold a month, and the top five guys, let's say have 2,800 of those sales. That means 200 of the sales are from position six and down. So that means if I want to have a chance at making very many sales on this, I need to get it to at least position five or four. 00:12:25 Maybe one, two, and three is where I really want to be, but maybe that's too competitive or it's going to be too hard or take me some time. So, I look at if I get to position four or five on this keyword, is it good enough? Can I make some sales and can I compete? And then I take a look at what other keywords are around this. So then I will take it and look at what are the other related keywords, what other keywords are similar. At least now I don't have one really good keyword, and hopefully I can find at least three. Keywords related to this product that actually fit all this criteria 00:12:59 that are that are in this list and that means that there's three good keywords maybe there's more maybe there's 50 or keywords but at least three of them I know, I can if I can if I can win just those three I can make X number of sales per month and that's going to make me happy and any sales I get off the other keywords that's great that's just the the icing on the cake and so that's kind of the process that that I personally do to find stuff. Now, there's some labor in there, and it takes a little bit of time, but I've been doing it a while, so I can get pretty fast at it. And I can usually find product opportunities in about an hour or two. 00:13:36 Oh, yeah, that is awesome. Some of these product opportunities, though, once I find them, then I give them to sourcing, and that's what we do for product savants. uh i have uh with product savants we have a sourcing team in china so we give the product to them this opportunity i found and then they go and they find the factories that can make it and a lot of times the opportunity i found i found i end up not doing it because the price from the factory comes back too high the margins are not there or the moq is too high or um there's another bunch of other criteria that sometimes just because i found 00:14:21 a good opportunity maybe i can't do it and a lot of times people also maybe it's more than my budget because let's say my budget is uh is is i don't know ten thousand ten thousand us dollars to launch this product and i found a great product but in order To do this product, I'm gonna have to buy my first order is gonna be eight thousand dollars. Well, you think well, Kevin, you said you had ten thousand so eight thousand dollars is enough. So go ahead and launch it. And my rule is you have to have two and a half times your initial product cost as your investment. So if I only have $10,000 to spend, you can divide that by 2. 5. So that's $4,000. 00:15:00 So on that first product, I can't spend more than $4,000 buying it. And that includes the factory costs in China. And you have to remember if you're selling in the U.S. Right now, a lot of products have a 25% tariff on them from Trump that's still in place, even though he's not the president anymore. So you have to add 25% to the cost of the product, plus your shipping costs, plus some products have a duty. Sometimes it's zero, sometimes it's 4% or 5% or more. So sometimes whatever that factory cost is, it can even double by the time you get into the United States, once you pay all the taxes and fees. So that includes all that. 00:15:32 So that means that, and the reason it's $4,000 is because if my product is successful, before Amazon pays me money, because you know there's a three to four week delay. Gap between when you sell and when you get the money, I might have to place another order with the factory and give them another $30, and I need to have that money ready to go um, and I need to spend some money maybe on a PC or rebate so that eliminates some product opportunities that might be good it's just not in my budget, and so you have to be careful there too okay, okay. That is great. So how often you repeat the process like going into brand analytics and downloading the report? How often do you do it? 00:16:12 After a month or twice a month? I sit down and I do it. I download the new data once a month. And so I'll sit down and spend probably two days, three days. So I'll download it once, do all the stuff in Excel to get ready. And then I'll spend a few hours, one afternoon or one night looking through. And then I'll come back to it a couple of days later and then come back to it maybe a few days later. Using the same data, and then that data is finished, and then I wait till the next month and do it again, so I spend-you know, I'm not every day looking for products. Um, I part of my my month is a few days are devoted to finding products. Okay, great! 00:16:54 And what is the price point you target, um, on those products like the selling price on Amazon? I don't like to sell anything less than $20. That's me. Now, some people-that means it depends on your budget. You may not have a choice. You may have to sell things less, but I like to sell things $20 and more because I like to have some room for PPC. And I like to have some room with some competition comps where I can lower the price and still make a profit. So a lot of times, you know, people are selling $9 items, $10 items, $6 items. I just don't like to do that. To make money on that, you got to sell a lot. And, you know, for some people, it's relative. 00:17:35 You know, some people, if they can make $1,000 profit a month on Amazon, they're very happy. It can change their life. But for me, $1,000 a month is not worth my time. It's a waste of my time. So for me, $1,000 a month, I'm not going to mess with it. I want to be making a profit of $5,000 to $10,000 a month if I can. Okay. So, I mean, the minimum I will take on a product is $2,000 a month. So that's the minimum. That I'm selling and after six months if they're not selling at least two thousand dollars a month and profit, I'm sorry. If they're not making two thousand dollars a month in profit, a lot of times I eliminate the product. 00:18:14 I just let it sell, finish selling and then don't ever order it again because to me, I can take that money and try to find another product that does better. And so that's that's; and I don't want to have you know some people have hundreds or thousands of products on Amazon, um, and that's okay. But I don't like to have that. I want to keep 20, 30, 40 products, something that I can manage easily and doesn't take a big team to do, less complications. And so that's just my personal preference, but other people do it differently. And then the margin, this is another mistake I see a lot of people like in the Freedom Ticket make. Maybe they're selling a product for $12. 99. And I say, well, how much did you pay for it? 00:18:57 Oh, it was $4. And I'm like, okay, how much of the tariffs, the taxes, the shipping? Oh, by the time I paid everything, it was $7. I said, okay, you're selling it for $12. 99. You're not making any money because Amazon's taking their 15% and they're taking, depending on how big it is, they're taking a fee to fulfill it. So maybe at the end of the day, there's one or two dollars profit for you there. If that, how are you going to run some PPC? How what if some competition comes and you got to lower your price a little bit, you're going to be losing money; only person making money is Amazon, and so a lot of people make that mistake. 00:19:34 So when I find products, the minimum the minimum I will consider for anything that's under a hundred dollars now over a hundred dollars this rule does is different but for under a hundred dollar selling price I need my cost needs to be at least uh the selling price needs to be at least three times more than the cost; so if my cost is is $30, I'm going to be selling it for $89, for example, or $90. Ideally, I like to have that at $5 or higher. That's even better, but $3 is the absolute minimum level to consider. I like to have that at $5 or higher. For example, on these calendars that I sell, the price on them is $19. 95 and $19. 00:20:17 95. My landed cost on them is $1. 52. You can see that that's like a $12. Uh, x 12 times market more than 12 times almost 13 times markup and and that one is hugely profitable every one of those even after the Amazon fees after the cost of shipping into Amazon and like I've said you know we don't do PVC in that product um each one of those is making uh like 12 13 profit on everyone and then because they're calendars people only buy them on Amazon between about I mean the most of the sales come between the middle of November and the middle of January. So, you have about two months. And, you know, some people buy outside of that or before that, but most of it is people buy them for gifts for Christmas or for things like that or to get ready for the new year. 00:21:08 And so, after that two-month period, if I have extras on them, because we do, like this last year, we did five different ones, and sometimes you don't know which one is going to sell the best. So sometimes you have to guess. And maybe whatever the main picture is on the front of the calendar, if it's a castle from Scotland, it might sell differently than a castle from France. And so, you don't ever know exactly which one's going to sell the best. So sometimes you have extras. And these are like, it's like selling milk. You know, milk goes bad if you don't keep it in the fridge. And after some time, you have to throw it away. And so, the calendar is the same way. 00:21:46 I can't say, 'Well, I'll sell them next year.' or 'I'll sell them in the summer because they have dates and they're no good anymore.' So I have to sell, I have to discount them if I screw up. And because I have such a margin, even if I lower the price to half at $9. 95, just to get rid of the extra ones before they become obsolete, I still am making a profit because of the margin. And so, those are things that you have to think about as well. Okay, so what do you suggest for the beginners? Actually, what profit percentage, if we talk about the percentage, what profit percentage should they be looking for? On private label, you want to shoot for 25% to 30% profit, and that's after all your fees. 00:22:32 So some people, there's gross margin, and then there's actual net profit. So some people you hear on a podcast, yeah, my profits are 80%. Well, it probably isn't 80%. That's probably just the cut, the difference between what they're selling it for and the cost. So maybe they're, they bought it for $3 and they're selling it for 20. So they think they have a $17 profit, you know, the $17 profit. They, they don't. Um, but you've got to take away the Amazon fees. You've got to take away the shipping fees, the storage fees. Maybe you're paying a VA with all your costs at the bottom. At the end of the day, when you subtract all the costs, I'd like to see on private label 25 to 30% profit. 00:23:11 Okay. So, if we talk about the keywords what search volume you look for it depends um so I like things that have 300 or 300 searches in the US market, 300 searches or more per month. Um, now depends on how much your sale I mean for a product to sell ten thousand dollars a month it probably needs more than 300 searches, so it depends on your criteria but like those the calendar ones most of those products have less than a thousand searches for different keywords a month and it's not it's not huge for some of my other products in order for me to be successful and compete I need big keywords that have five ten twenty thousand searches a month, so it depends on the product and the competition. 00:23:55 But typically um I I like to see three thousand at least some of the keywords be three thousand or more uh and then pretty much all the keywords be 300 more. You can remember search volume on Amazon too many people get caught up on search volume they think oh I need the keywords that have 50, 000 searches a month I need to be ranking on page one for that not necessarily because a lot of times the more the bigger keyword number one they have more competition but they also don't convert as well because bigger keywords are usually shorter tails that means they're the're smaller keywords like if you're selling a a spatula you know maybe a 00:24:34 the word spatula has i don't know 50 000 searches a month i'm just making this number up and if you're ranked number one on spatula or on page one on spatula that's great but most people that are typing spatula they're not going to buy the first one they see but versus if it's spatula steel spatula or steel spatula for left-handers for example steel spatula for left-handed people that's a long keyword like five words and maybe that one only has 500 searches. A month it's not very much but those 500 people are very serious because it's a very specific topic it's not just a spatula it's a spatula it's a steel spatula for left-handed people so it's got like three extra layers of criteria there and so the conversion rate for those people is going to be much higher so the conversion rate for those, those, those right there is going to be maybe 20, 30, 50% of the people that search for them are going to buy a spatula. 00:25:32 Versus on just the word spatula, maybe only 5% of the people are going to buy a spatula. And they're going to be doing another search or they're going to be following some other products or whatever. And so you have to be careful there not to get caught up on just looking at the really big keywords because there's lots of opportunity in smaller ones too. It's usually less competition and easier to rank. Okay, great. and what do you suggest and or how do you do the product differentiation so that product differentiation um there's a number of ways to do it once you can create a brand new product and open a new mold and stuff you know that gets that gets expensive um some people like to do bundling i'm not big on on on bundling um but i have done that in the past like with a makeup brush set i included you know a couple makeup uh i'm sorry with a makeup 00:26:25 Products I had like a eye serum and I included a couple little brushes with it You know head on different factory make it and ship it to the main factory and they put them together Differentiation is usually not just a color or size You've got it. You've got to improve on the product to make it different like for example I have One of my products is a slow feed dog bowl. And so, it's a you know when dogs eat from the bowl, a normal round bowl. Sometimes the dogs are they're so excited they eat really fast and they just like swallow everything and eat really really fast. And it can make them sick after they after they finish eating because they ate so fast maybe they get a little sick, their stomach hurts. 00:27:05 It's not good for the dog, it's not healthy. So people make these slow feed dog bowls, and these slow feed dog bowls what they do is they they put little sticks all inside the bowl. And so the dog has to use its tongue to go around around the bowl. Well, if you look on Amazon, there's a lot of people selling those and doing really well. Their bowls all have they're all the same, they look the same, they're like green or blue, and they have their plastic, and have those little sticks. Look like a little mountain with sticks everywhere. And so I saw an opportunity in that marketplace, I'm like okay, I don't just want to find a factory in Alibaba and make another one and just put my brand name on it or how or maybe if I included some sort of spoon to put the bowl the food in there or something that's like that's not differentiating enough. 00:27:52 You know, these bowls, to me, are kind of ugly. I don't want that in my house. You know, if I have a nice kitchen, I want a nice, pretty bowl that's for my dog that's there so that when they're not eating, it looks nice. And so I created one that's in the shape of a bone. So it's in the shape of a bone, and it has two different colors on it, and it has little silicone feet on the bottom so it doesn't move, because I read the reviews of the other ones, and they say, oh, the dog pushes it with a nose, it's sliding across the floor, making a mess. So I read the reviews to see what people are complaining about. So I put some little feet on the bottom so it doesn't slide. 00:28:26 And then I made it in the shape of a, of a bone. And, and, and I changed the way some of the, the, the, the ridges are for the dog has to go in. And then, so this required me to make a new mold. So that cost me like $3,000 US dollars to make this mold. But what I did first is, I found someone on Upwork and said, 'Hey, I want to create this bowl.' I sketched it just by hand. And I'm a very bad drawer. This is kind of what I want. They created a 3D rendering of it. I think this cost me about $300 total. They created a 3D rendering of it. And there's plenty of people in Pakistan that can do this probably really cheap. 00:29:03 Then, made a CAD drawing of it. And then what I did from that is he sent me what's called an STL file. And I took that and I found a printer here that does 3D printing. So it's 3D printing. They made the bowl for me. And you know it's ugly, it's just a white plastic-it doesn't look like the final product, but it looks like but I wanted to make sure different dogs could actually use this, you know. Some dogs have a long nose, some dogs have a short nose, so I made a sample, a 3D printed sample cost me like $50, and then I took it to a bunch of my friends that have different dogs-big dogs, little dogs, short noses and like, okay, let's put some food in here and can the dog get its nose in between everything? 00:29:44 And I had to make a couple changes to it, you know. Like, oh, and the people when they're using it, they're like, 'Oh Kevin, if it did this over here what if you had some little holes on the side, on each of the sides, where if we put this outside we could put a like a a rod and put it to the ground or something so it it Doesn't carry it away or whatever, so I made some changes. We made another 3D print, tested it again, everything was okay, then I gave that file to the factory and I said, 'Look, this is the file to make the molds from. These are my molds.' It had my logo inside the mold. So this factory can't use this mold to make products for other people. 00:30:19 It's going to have my name on it if they do, if they try to do that. And then I told the factory, 'Look, we're going to split the cost of this because it's $3,000. Okay, I'm going to pay you $3,000 now.' But on my second order, when I come back to make the second order, you're going to give me a credit of $1,500 against the mold because we're going to be partners on this. And I said, okay. They didn't want to do it on the first tour because what if I never order again? But at least that gave them some motivation and some incentive. And so we created this bowl. And it's not the best seller because I have to sell it for a higher price. 00:30:56 It's nicer quality. It sells for $24. 99 or $19. 99. The small one, $19. 99. The big one, $24. 99. Some of the other ones on Amazon are $8, $10. And so I'm not trying to compete against those. And I'll never win against those guys because some people they don't care about how it looks; they just want the cheapest one. But there's other people that, on Amazon, that actually want something nice and looks cool-it's great for a gift and they're willing to pay that extra money. And so that's the market I'm after-it's a smaller market than the big market. So, the big keyword like um slow feed uh dog bowl, I don't go after that word uh you know um. 00:31:34 But slow feed dog bowl bone shape, you know, is a very good keyword and so I go after those types of keywords. And this product is it a best seller, that's crushing it and gonna buy me a new yacht next year-no, but it makes a nice healthy profit without hardly any competition; nobody else is going to find this on alibaba to do it and it's exclusive so that's that's one of the ways that i do differentiation Okay, that is great. And do you file patents on your products as well? Do I file patents? I have done a design patent on a couple of my products, but mostly I don't, no. I just don't. I mean, in China, if they want to knock it off, they're going to knock it off anyway. 00:32:28 Um, for me, so I mean I'm not saying you shouldn't follow patent uh, I just I just have only done design patents so far on some of my products, okay. So there are a few questions from the audience uh, so uh Danish Donna's question there uh, the biggest thing for me is ROI, so you don't want to tie up your money. To answer his question, um here's an example: another product that I sold was was a a crepe maker, you know where you can make a little crepes and this product it would make pancakes or it would make make crepes and that product was a good product and my MOQ on it was a thousand units, I think my cost on it was uh like eight dollars and I sold these for uh 49. 00:33:27 I don't sell it anymore, but I, this was a few years ago, but so I buy a thousand of them. I put it on Amazon, but it was a slow seller. You know, it's so; I would have to spend $8,000 to buy the product because it's $8 each times a thousand in the shipping and everything. By the time everything arrived, I'm probably like $14,000 that I had to invest in these thousand units. Sell them for $49. So that's a decent profit. You know, that's; that's a three; remember I said three X; that's basically about three, three times to sell at 49. And they were selling like five to 10 units a day, something like that. So not a big seller, but a nice little slow, slow profit. 00:34:10 And each one of them was profitable. But the thing is it took me almost six months to sell those thousand at the, at that rate. And so I had to tie up $14,000. Of my investment, you know I got some of that back after like three months, two months, but I tie up my money for a long period of time and I can only turn that product over twice a year, so I'm only ordering every six months, making two orders a year from the factory to me. There's nothing wrong with that, but I think it's better to actually improve your cash flow and your online by turning your money faster. So, I i think it's better if you can find something that you can turn at least four times a year. 00:34:49 Hopefully, you're ordering from the factory at least four times a year. So I would be looking for, that's one of the reasons I got rid of the product is because it's too slow. Even though it's profitable, it's just taking too long and tying up the money for too long. So, I switched it to a product now that I order every two months. And so that's a 6X turnover instead of a 2X turnover. And I can work and turn the cash faster, and I can grow faster. And so my sales volume will grow faster than just selling the crate maker. And so ROI, I like to see that at 100% or higher, ideally 150%, but 100% or higher. And the terms at least four times a year. 00:35:34 And if you can get more, six, you know, some supplements are like 12 or more. But that's what I like to see. And that's a better use of the cash. And Ollie's saying if we have a low budget of ten to fifteen thousand dollars, what type of product criteria do you recommend following or what should we look for? If you have like an example I gave earlier, if you have ten thousand dollars um to invest, you gotta divide that by 2. 5, so that means you need to find something that's going to cost you about four thousand dollars for your first order no more than four thousand dollars including the shipping. So it depends on how you're shipping it, but the shipping on that might be $1,500. 00:36:18 So that's like $2,500 product. So the demand on that product, if you find a product that costs you $5 to make, and if you do the math, it looks like you're going to be selling 20 a day, you don't have the budget for this product. So you're going to have to find a much slower selling product to start with. You're saying if it's five dollars a day and you only have twenty-five hundred dollars left out of the four thousand because the rest is taken by shipping, that means you can buy about 500 units of this product so you need to buy something where the MOQ is 500 or you can negotiate it to 500 and depending on how fast the factory makes the product if we're shipping this by air maybe it takes the factory 30 days to make the products and then a couple days a week or something for the inspection and to to to get it packaged for the air 00:37:11 and then maybe it takes a week to come over, and then Amazon's got to check it in, and so maybe it takes two months to finally place the order until you have the product to Amazon's warehouse. That means for you to not run out of stock, you can't sell more than about 250 units a month, a little bit less because you want to put a buffer in there just in case there's a delay or a problem. So somewhere around 200 units a month. So that means you need to find a product to buy that by 30. You need to find a product that's selling about six units a day, six or seven units a day that you can buy for $5. And that's the type of product you should be looking for. 00:37:50 There's something along those lines to start with. And now later on, once you get going, maybe that can go up or higher. But for a $10,000 investment, that's where you have to start. Because the worst thing you want to do is be successful and sell out. And then you don't have product for a month on Amazon because that will just kill you. You're going to be like scrubbing over. The next time you come in and so that that's for a mistake a lot of people make okay and Ollie's saying if we purchase products from AliExpress for selling on Amazon because it's cheap and fast but we already have a brand name on them which is different from our brand name on Amazon kind of runs some kind of problem by doing that um uh you could Yeah, you could, but is it likely? 00:38:44 Maybe not. Some customers would have to complain or something. Maybe the customer's expecting to get all these goodies and the brand name instead says Kevin's Goodies and they think they got a different product or something. So that could be where you run into problems. I would be careful with that. Okay. So I guess there are no more questions. So I would like to thank you again, Kevin, for joining us today. And it is really an honor to have you on our session. And in the Pakistani way, we do like it means thank you very much for joining. You're welcome. You're welcome. Glad to be here. Hopefully this has helped a few people and good luck to everybody. Okay. Thank you so much for joining. Take care. Take care. Bye bye. Bye bye. 00:40:04 Price and the profit percentage is the main thing for them, 00:40:59 product line says. 00:41:22 Color on the basis of packs, 00:41:31 uh uh. 00:41:57 Joining us today.