How to Sell More in Q4 Launch with Amazon Strategic the Great Kevin King

How to Sell More in Q 4 Launch with Amazon Strategic the Great Kevin King Yeah, we are live now. First of all, thank you so much the uh great Kevin King being here today with us and having a lot of experience with a lot of strategies. First of all, hats off, salute to you for uh joining us in Amd Ppc Solutions-it's like a dream comes true um, thank you so much, I appreciate it. How was your day? Glad to be here, man. Excited to be here and glad to help in any way that I can. Thank you so much, boss. How was your day, first of all? Let me know how was your day and how's everything going on? You know, over here, we're about 9-10 hours behind you over there in Dubai. So, day's just early afternoon here, but I just finished a big workout with my trainer. Did some meetings this morning and ready to rock and roll. Oh, great. So, boss. I have first of all, I have one question that you have a huge history, a lot of experience-how did you start this? I mean, how you come into Amazon, and then you're featured in the top, you know, like TV channels, and you're like in, 'Helium Dan,' and you're coaching elite students. How did you come into Amazon business? Uh, yeah, I've been doing e-commerce for like uh 25 years or so since before Google even existed. Back when it was just Yahoo and companies like Lycos and AltaVista in the 1990s. So, I was selling things online then. Before that, I was selling things through the mail. So direct mail. So sending up like flyers and catalogs to people's mailboxes. When people would call an 800 number and place an order with their credit card or they'd mail a check or money order in the mail in an envelope back to you. So I went back to college doing that. But the Amazon stuff started selling on Amazon in 2001. So about 21, 22 years ago, I started doing the FBA model in 2015 when that kind of became popular, where people were starting to find stuff on Alibaba and put their name on it and that kind of thing. And then I started five brands in 2015. And then 2016, I started doing a little bit of stuff with Helium 10. Manny Coates, who owned Helium 10 at that time, reached out to me and said, 'Hey, would you would you come on the podcast? I'd like to interview you.' I'm like, 'No, I don't want to be on a podcast. I just want to be on the seller. I'm just busy on my selling.' He's like, 'No, just come on the podcast.' I liked some of the things you put in the Facebook group. So I did that. And then that podcast became his most popular one, I think, ever almost. And other people heard that podcast. And so they started inviting me to speak at different events and to be on different podcasts. And then the guys at Helium 10 said, 'Hey, why don't you come and do our training called the Freedom Ticket for new people.' So I'll teach you how to Sell on Amazon if you're brand new, and then do the advanced training called Helium 10 Elite for experienced people. More advanced tactics and strategies, and everything; not so much the basics. And that's evolved, and I still do those. I don't work for Helium 10, but I have a contract with them or I do that for them on the side. I still run three different Amazon accounts, still sell seven figures a year on Amazon. I do events called the Billion Dollar Seller Summit, which is seven, eight, nine-figure sellers, about 100-120 people that come. Just did one a couple weeks ago here in Austin. I do product savants and a whole bunch of other stuff in the space. I also host the AMPM podcast, which is the original podcast that Manny started when he started Helium 10. Now I'm the new host of that. So yeah, I keep pretty busy out there. Well, that was really, really exciting. And I'm here and the people are here joining us today. I'm sure they will learn a lot from us. First of all, hi to you from the whole community for all Amazon sellers who are residing in USA, UK, and Europe, Israel-especially from Dan, Had, John Stefano, and many Uh Will also will Fried, also especially they told me to say hi to you, yeah they especially said hello say hi to you. So boss, I have a question for example: when you started your career selling on Amazon until now? How did you find the products? I mean, like, how did you test the product? For instance, you're launching the products and, I mean, teaching the techniques to elite members. When they are going to launch the product, how do you, I mean, teach them that this product will work or this strategy will work, this time will work, in this year, quarter four or quarter one, two? What is that technique? The way to pick products, everything on Amazon is based on the products you pick. And so that's the number one criterion of your success or failure is the product you pick. And a lot of people, when they're new, they worry. They worry, did I pick the right product? Am I going to fail? Is this going to work? I'm spending all my life savings. And sometimes you just have to go for it. And it may fail, but you're going to learn a lot. And the next time you come back, it'll be better. But for products, I look for a number of things. I mean, I have like a 15-list of criteria that I look for. When I first launched in 2015, most people were just going to Alibaba. They were finding an opportunity using the limited tools. The tools were not like they are now back then. But you would find an opportunity, and then you would just go to Alibaba, find a factory to make it, put your logo on it, maybe add a PDF or change it a little bit, and you'd sell it. You can't really do that anymore. I mean, some people still try to do that, and occasionally it works, but it's like playing the lottery. You have a one in a million chance of that actually working. But now you've got to really differentiate the product and you've got to really find opportunities where you can actually totally differentiate the product. And sometimes that may mean creating a brand new product from scratch. And I've done that many times in the past where I've created a whole new product from the ground up. Other times it may be finding a product that exists and then making some changes to it, making some changes to the mold or making some change, not just a color change or a size change, but some fundamental changes. Like we have one of my products, we sell dog life jackets. And what we did with the product is we, to differentiate, there's a lot of people selling dog life jackets on Amazon, and it's a difficult market. But how can we differentiate? We said, look, there's a subgroup of all the people buying dog life jackets. There's a small group of those people that are really into sustainability, and they really care about the environment. And so we said, why don't we actually make a dog life jacket that's made out of recycled bottles from the ocean? So from the ocean, you can take the plastic bottles that fall off of ships or that wash into the rivers. And there's factories that will take that. They will melt that down and they make fibers out of it, and fabrics, and everything. And let's say that our product is 80% made out of that. 20% is not because you still have to have some metal buckles and some things that are hard to do that with. And that's a differentiating factor. So, and then we design; we wouldn't read all the other dog life jackets where people complaining about what do they like? And we incorporate that into a brand new design. And came out with, and so that's a differentiating factor; is that going to be the number one seller in the category? Probably not because it costs more money, uh, to buy it, um, and some people don't care about that. They just care about the price. But there's enough people that care about that snitching down that we can, we can satisfy that audience or that that that that community that actually cares about that, and that community is big enough on Amazon because now Amazon is so huge that you can subdivide it down. And so that's what you want to look for if you're selling baseball bats for people playing baseball or cricket or something; you know, there are people that are left-handed and there are people that are right-handed. And so if you just sell a baseball bat, you can say, 'You could, you can say it's good for left-handed and right-handed people.' And maybe there are a lot of baseball bats and someone might buy it. But if you say my bat is only for left-handed people. And maybe it's the exact same bat as for right-handed people. You say this bat is exclusively for left-handed people, even though a right-handed person could use it and you market it that way. When people see a hundred different bats on Amazon, they say, okay, all these bats. And it says, this one's for right-handed people. This one's for, it doesn't matter if you're left-handed or right-handed, but this one's just for the left-handed people. And there's only two of those bats. People are probably going to trust that more and buy that more. So that's a differentiating factor. And you market around that. So that's what I mean when you have to think about differentiating factors. It's not just add a PDF or a warranty or make a bundle and add something to it. You've got to go beyond that and niche down. And then it's all about keyword demand. Use tools like Helium 10. If you're not using Datadive from Brandon Young, you need to look at that tool. That's probably that tool in combination with Helium 10 because you need both. You have to have a Helium 10 subscription to use Datadive. But Dad Dive sits on top of Helium 10, and that's a super powerful tool. So, you can go in, and you can use that tool; it will analyze all the keywords for you that all the top 20 competitors are doing. It will analyze how good they are they at Amazon. It'll show you like, 'Okay, these 20 people selling dog life jackets it'll say, 'Look, there's a hundred different keywords.' But only three of these guys are ranking for all hundred keywords; the rest of the guys are only ranking for 20 of them or 30 of them or whatever the number is. That means they're not as good at selling on Amazon. That means there may be it's some va that set up the account, or some big company that doesn't really understand Amazon. So, that means there's an opportunity; 70-80% of the people that are selling are not doing a good job, and you can come in. And steal a lot of market share from them by actually filling in those all those other keywords and being the fourth guy so tools like that or that didn't exist before or can be magic And so that's another thing that I look at is I look at how big are the reviews? How many reviews are on a product? How long have they been selling? How much depth is in the market? If you're selling a dog life jacket and there's only three guys doing over $10,000 a month and everybody else is doing a few thousand, that's not a very big market. And it's probably not something I'm going to go into. But if 22 guys. Are selling over ten thousand dollars a month, I'm like okay, there's a lot of diversity here, there's a lot of people selling over ten thousand dollars a month. Maybe I don't have to be the best seller, but I can be the fifth or sixth or seventh best seller, I can still have a good market share and still make some good money. So there's things like that that I look at. Uh how long is it gonna take me to get the reviews? Is the top guy have a hundred thousand reviews that's okay, but what about the fourth or fifth guy does he have a 80, 000 that's going to be hard for me to unseat him, but if he's only got like 200, 400 I'm like, OK There’s enough depth here that I don’t have to be the best seller. I can be number four, number five on the page and still do very, very well. So I look for those type of opportunities as well. And then I like products that have multiple keyword options. So products that have it's called root keywords, but there’s they have lots of different ways to rank. So I like to see more than 100 possible ways to rank it. Now, I’m not going to focus on all 100. There's going to be probably five or 10 or 15 of those that are going to be most of my sales, but the fact that there's all these others um that's important too, so those are some of the things that I look at when it comes to products. Got you well this was the uh like a secret that you shared with us many things that you have shared it was not even in my mind this is the thing that's why we call you boss, boss uh I have we have question if you allow us so we can take one or two questions. Should we launch new products in Q4? Q4 can be a challenge to launch a new product. Because the sales are higher, it's going to take you more. You're going to have to sell more to rank because the sales are naturally higher. So it depends on the product also. But most products, even if they're not a Christmas product or a holiday product, it's not toys, but all products go up. Pretty much in quarter four, some go up a lot, some just go up just a little bit, so can I say no, don't launch a product in quarter four? No, I'm not going to tell you no, don't absolutely don't do that, but just be aware that when you do that it, you, you may have to spend a little bit more on your ranking process and on your PPC process because because everybody else is, is spending more and and there's more just more competition, but launching for um I wouldn't say don't do it, but I just say it's going to be a little bit more challenging. More challenging. Regarding the bus, there's one more question. I got a question for you. Do we really need to build a proper brand in private level on and off Amazon? That's a question from the attendees. Yeah, building a brand, I think, is the best way to succeed on Amazon. Just finding products and sticking your logo on it, you might make a little bit of money here and there and you might have some success. But if you really want to build a true business, something that's going to last a long time and has like a moat around it then yes you need to build a brand and you need to do it on and off Amazon. Amazon itself is a great place to launch – I mean there's no better place in the world to launch and that's where I would focus first. I would. All I would all i would you know if you go, 'some people like well maybe I should just do my Shopify site and send traffic from Facebook or maybe I should go to Walmart.' I, those are places you should go but not in the start with. Start with Amazon. That's that's the big grill in the room. It's the easiest one. It's not the, it's the once you understand Amazon, it's going to make all the other ones easier for you. And Amazon has so much traffic and so many eyeballs. That's that's the place to start and learn that one. And once you master that one, then yes, you definitely should be looking to, to, to set up a Shopify store. Maybe you set up a Shopify store from day one. Just don't expect very many sales it's a legitimizer because sometimes people go to Amazon they see your product they're like i never heard of a Wasim's product let me go type in Wasim's brand on Amazon on Google and see what comes up and up comes your Shopify site and like okay he's legit even though you might they may not make a sale there it's just it's like a it's like having a business card and so they're like okay he's cool i'm gonna go back to Amazon order it but just don't expect to have a lot of sales there it's a different business model to drive traffic to that too Amazon's definitely the best place to start And then go to other Amazon marketplaces So if you start in the UAE learn the system and then expand into Europe or the U. S. Or if you start in the U. S., which is the biggest market, then expand to Canada Because once you know one of them you can replicate in other markets with some slight changes and keyword changes So here is a question King do you consider R&D which incur huge cost as a first thing to do before launching the product Because in Freedom Ticket you mentioned that you spent $30,000 for a pet bowl or just launched the product with minor design changes? I think you're confused. The pet bowl was only about $3,000 for the molds, but I did spend over $30,000 for an Apple Watch charging stand. So in 2015, I developed an Apple Watch charging dock that would charge your iPhone, your iPad, and had a little light on it. It had a little Bluetooth speaker. It is my own custom design that I thought of at the top of my head, and I hired a designer to do it. We had to make the molds. That cost over $30,000. The pet bowl was only about $3,000 instead of $30,000. And that pet bowl, my dogs still use it today. It's a really nice bowl. But, no, you don't have to do that. To start with, you do need to do some R&D. You can either find a product that already exists and customize it a little bit to yourself. I would still bring some of those in. You need to get some feedback. I've done this before where R&D can be as simple as I was launching a makeup mirror for women, a little portable mirror that they could put in their purse and hold in their hand. It's like a circle and had some lights on it so they could check their makeup before they went out at night or before they went to the office or whatever. And put it back in the purse. Well, I had like, I was contacted like seven different companies and you know, I'm a dude, I don't know nothing about putting on makeup or whatever. So I, I, I took those seven makeup mirrors and I went to a bar here in Austin and I sat at the bar with my buddy drinking some beers and said, Hey, uh, for six hours, any woman that came in and say, Hey, would you mind coming over here and give me your feedback on these? So some random people that would come, I was like, Oh, I like this one the best. I'm like, well, how come? Oh, because the lights bright or. I like this one the best because it folds easy or whatever. So I got some feedback on them. So you can do R &D like that too. And these were strangers. It wasn't my wife or my sister or somebody that's close to me. That can be okay, but you want to get people that have no clue about what you're doing because they'll be more objective. gosh boss one thing i would say like uh you have to share the secret because in this day now we are facing the like problems while we are sourcing from the china and i see that you are also saying mexico is also good there is one question as well how would you i mean differentiate the sourcing stuff from should we go with china should we go with mexico or mexico is more better than china please tell us some secrets to make our supply chain more stronger Well, there's lots of places you can source from. I mean, there's India, there's Mexico, there's Turkey, there's China, there's Vietnam. There's a lot of places. The truth is, China is the world's factory. So just the systems in China, the way the factories are set up, the way the system is set up for all the trucks and the containers, it's just very, very good. And it's very efficient. And in China, they're willing to do small quantities. So if you call a factory in the U. S. and say, 'Hey, I want to make a wooden game, one of these cornhole games that you throw the beanbags into the wooden thing that sits on the ground, I only want 100 of them.' They're going to not even return your phone calls. But in China, some factories will say, 'No problem, we'll do 100 for you.' So that's an advantage of China. With all of its issues, the political issues and the shipping prices have gone through the roof. They're coming back down now. It's less than $5,000 a container right now instead of $20,000 or $30,000 where it got to. China is still the world's factory. A lot of raw materials come from China. So even if you go to Mexico, Mexico can do certain things well. They can do fabrics like clothing or hammocks. Things like that, some electronics like they can do some hard drives and some things like that, but they're not good at everything. And still, the problem is with Mexico; yes, it's closer, and the labor might be a little bit more, a little bit cheaper or in some cases a little bit more, just depends on what you're doing. But then you save because the shipping is not so long, the shipping costs are less. But the problem is most of the raw materials still don't come from Mexico, so they still have to get them from China; they can put them together there. So, you still have China kind of involved in a lot of cases. So that's a disadvantage. But looking at other options besides just China, I think it's smart. And another reason is the tariffs. You know, right now, there's a 25%, they call it the Trump tariff, that was imposed on China. Most products coming into the US from China, there are some exceptions, but most products have between a 15 and 25% extra tariff. So there's a normal tariff that might be zero to, you know, in most cases 10 to 15, I mean sometimes they go really high, uh, but on top of that, you have another 25% one so you won't have that coming from Mexico, uh, but to set up the factories and babysitting, you have to do and everything for Mexico is still not easy, I mean Mexico, I think has good potential and that they could be a few years from now it's a great place, um, but just understand if you go there now it's going to be a little bit more work for you and a little bit more babysitting and hand holding. It may be worth it. But China is still the world's factory. I love your teaching and I'd love to see you in Pakistan. Definitely we want to see you in Pakistan and Dubai as well because I'm sitting here in Dubai. I want you to come, so we can arrange an event also. Yeah, I'll be in Dubai in December. I'm going to the World Cup in Qatar. So, I'll pass through the semifinals and the finals in Qatar and come into Dubai for a few days after that. But on vacation, I'm not coming on work. But yeah, I would love to go to Pakistan too. I know Bradley Sutton from Helium 10 has been over there. I know some really good people, really hard workers and a great community over in Pakistan. Thank you. Thank you for appreciating us. Thank you. I have one question that I want to know from this, your whole experience in the quarter for the bigger sellers or agencies, six, seven, eight, nine figure sellers and agencies. What are the tips, secrets that they can sell more in Q4? They have to keep in mind their supply chain, inventory, PPC, everything they have to keep in mind, the budget, everything. Like how they can keep these things in their mind and they can grow with that strategy. What was your most experienced thing that makes your students, elite members successful? In quarter four or in general? In quarter four and this Q4. Well, in quarter four, it's tricky. You got to have the inventory. So you got to make sure you're on top of your supply chain first and foremost to make sure that inventory is sitting here in October. And one of the things a lot of people forget is that if you're going to do any promotions for quarter four, don't wait until November and December. That's when a lot of people start doing special promotions and ramping up. Start in October and early October quarter four. This holiday season is getting I mean, Walmart here in the US right now has already started doing like Christmas holiday stuff. And this is just the end. This is September 1st. They started doing it like a month ago. It's getting earlier and earlier and earlier. And the shopping period is getting stretched out. And so you want to ride that wave. So if you're waiting until November to do a lot of your big promotions, you're going to be coming in in the middle or the end of it or everybody else. If you start now, you can ride the wave. For example, I have a calendar business. It's one of my businesses. We sell wall calendars. Well, people don't buy much wall calendars in June usually. They're not thinking about 2023 in June. They're thinking about it in November and December as a present or for their house or whatever. But we start selling these now. And right now, there's like two or three a day being sold. December, we're going to sell 500 a day or more of each tile. But right now it's two or three, but I can, by positioning my keywords now and getting those early people, I'm getting ranked on keywords right now when it's easy to get ranked on them because there's only two or three searches a day. I'm right there. I'm optimized and people are buying. Then next week, maybe there's going to be four buys. I just ride that wave. And then the following week, maybe there's five people buying. And as that just keeps going up to that 500. I just keep staying on top and just rising. It's kind of like if you're filling a glass with water and something is floating on top, it's just going to keep rising as you fill the glass with water all the way up. It's kind of the same thing. And so that's something you gotta keep in mind: start earlier. You know, Amazon always tells you, 'Get ready for quarter four,' spend more on your PPC. Start your ranking process and your optimization and even promotions to your customers. If you already have a list, go out to them and do a pre-sale. Say, 'hey.' For quarter four, we're doing a buy one, get one free right now, or buy one, get one 50% off, but it's only good until October 15th or something like that. So get that pump primed so that you get those sales and get that ranking, get that juice going before it starts getting super competitive and super heavy. And then make sure you have your inventory. Another thing I do a lot of times in the holidays is I raise my prices. Like that makeup mirror I was talking about earlier, we used to sell it for $19.95. And during Christmas, I raised it to $24. 95, sometimes even a $29. 95. And then I would put a $10 coupon on it. So if I raised it from $19. 95 to $29. 95, I would put one of those little orange $10 coupons on it. And what that does is people that see it, everybody else is for $19. 95. And they're like, wait a second, why is this one? I'm buying this as a gift. I don't know nothing about makeup mirrors. I'm buying it as a gift for my girlfriend or my wife. But this one over here is $29. 95. These other ones are $19. 95, but I can get this. So this $29. 95 must be better. It costs more. Psychologically, you're thinking, oh, this one must be better. But wait, there's a $10 coupon on it. So I can get this better makeup mirror for the same price that everybody else is selling theirs for. Heck yeah, I'm going to buy this one. And so I buy mine with a $10 discount. and they're still getting it for 19. 95 but in their mind they just bought a better quality because of the the price is higher so they assume it's better quality so i do little tricks like that sometimes you have to test this it may not work for every product but it works it worked really well uh for that product so i do things like that in quarter four if you have your own list you wanna you wanna mail to them um so uh yeah there's lots of things you can do in q4 perfect uh sir kevin king you hosted many events what will be in the cell scale summit event that one is coming up in uh in las vegas in about two and a half three weeks that's an event that helium 10 is doing they're spending about three million dollars to put this event on so they're spending a lot of money to put this event on there's about a thousand amazon sellers that'll be there maybe a little bit more uh there's i don't know i think about 40 or 50 speakers So there's lots of different sessions on everything from PPC to picking products. I'll be speaking. I'll be speaking on how to build some audiences and communities using NFTs to tie that to your Amazon sales and have a major advantage selling on Amazon. I'll be talking about that, kind of some cutting-edge stuff. Gary Vee is going to be there talking. He's a headline speaker. They've got some musicians like Nelly. You know, some people might know him from a few years ago when he had a lot of big hits. Um, he's going to be performing so it should be, it should be a cool event. I don't, I don't i don't know if it's being streamed, I think you kind of have to be there um, but I think it should be good. It's in Las Vegas. When it comes to the events, the billion dollar summit one of the biggest events in the history like you are doing that event. What is the most, like you know that you brought so many people? Brandon Young is there and like you know other other experts are also there in this billion dollar summit. Do you have any plan to make it in Dubai like that uh, I don't have any plans, I don't have any plans right now to do it in Dubai um, the next one is I've done the last uh four of them in Austin, it's expensive, it's about six thousand five hundred dollars per ticket to come uh and plus your airfare plus your hotel so it's it's not a cheap event. But most of the people that come are selling seven or millions. Of dollars on Amazon so they can afford that. And that's what we want to come because these are the experienced sellers. They don't want to know the basics. They want to know some very specific strategies and some very high-level stuff. And they can come and spend that money. And then maybe one trick. They hear one little trick that, oh, my God, I can do that with my PPC. I had no idea. They go back and implement that in their business. They just made an extra hundred thousand dollars profit. So that's that's why it's worth it for them to come. Uh, and we do a hack contest the last day where we, everybody submits all these different ninja hacks and we, we, they, they present them and we vote. And it's just some amazing, amazing stuff that come from all the different sellers about little tricks and tips and how to, how to do things. So the next one, uh, is going to be next year in, uh, in Dubai. I'm sorry, not in Dubai, in, uh, Puerto Rico, in Puerto Rico and, uh, in June. But I also, I do people, some people can't travel. Or, it's too expensive, so I do a virtual one in February, so in February I think it's the 22nd and 23rd. Uh, it's online; it's only like $1,500, so it's not nearly as expensive, but we do a virtual one as well for the people that can't travel or maybe they can't afford to come to the more expensive one, and then we do a lot of fun stuff. At the expense at the the one in person, we do a lot of competitions among all the sellers, and uh, you know, we did like an amazing race type of thing this last time, uh, that they really liked; we a couple of guys were DJing-a couple of sellers or DJs in their past life they were DJing, and we do a lot of cool stuff. So it's it's a lot of fun, uh, and a lot of really good information, a lot of good networking, and there's a lot of business deals that come out of events like that, you know; maybe it's not what you learn sitting there watching the presentations, but having Lunch with somebody or going to a party with somebody and just you start talking to people and you're like oh, and you, you form relationships that maybe turn into business relationships or partnerships, or maybe it's just someone that, Hey, the next time you have a problem, you can call them and say, Hey, do you know how, you know, to get my listing? Who to contact about my listing? Because Amazon just did this to me and I go, yeah, you just do this, this, and this. So that's what you can, you can get out of those events. And that's the most valuable thing to me. It's not so much the information is great and you learn some things, but it's the connections you make by talking to other people who think like you because right now you know you go to your house and you try to talk to your your spouse or you talk to your brothers or sisters and they just look at you like 'what the hell are you talking about this Amazon PPC and ranking and uh-uh yeah I don't care about all that' they just look and they don't want to talk about but these people want to talk about it so you're like, 'cool, you know, they um so it's it's nice to be around like-minded people. Definitely, we have to plan for Dubai. There are many sellers in Dubai. Some of them I know. They are selling from Dubai to USA. They are making listings in UAE and then they are converting these listings into USA. I'm sure if you make any plan, we can go with smaller and then we can jump into bigger. I know in Dubai, Kian is over there. I know Dan Ashburn, I think, is over there. And there's quite a few sellers that are in Dubai. Dubai is a great place to be based. Yeah, he's here, Dan Ashburn. He's in Dubai. Yeah, I know. I know he moved his family there. Yeah. So here we have a question. How we can get consultation from you? If somebody wants to get consultation or like, I don't do I don't do private um any private uh mentoring or private uh training uh. The Freedom Ticket course is free if you go, if you have a Helium 10 membership that's like 60 hours of free information so that's one way um and then just you know listen to the AM/PM podcast I have guests on there and I'll talk about some things there uh or uh you know come to to one of the events or something where I'm speaking but I i don't do any one-to-one or private consultation, gotcha! So in this billion-dollar summit basically this is one of the most successful events that you are doing and so many sellers like eight nine ten figure like bigger sellers they are coming and they are getting the tricks and Business as well, if somebody wants to join in the next year, they have to book the point, I mean, book the ticket in advance. Or once we'll uh announce after that, they can i mean yeah, the tickets aren't available right now. They'll be available next in the spring for next year's event it's at BillionDollarSellerSummit. Com, uh, but the one, the you know, for a lot of people listening, it may be too expensive to come or they can't, but you can look at the virtual one, which will be in February, and it's much cheaper, uh, it's a good event too, it's not um, it's not, it's it's live, so it's not pre-recorded like some of these other uh, you know, like conferences that that happen out there. It's all live. There's a breakout room, a chat room. We try to mimic. It's a pretty cool software that we use that nobody else uses in this space. And people like it. It's good information. And it's only two days, but that'll be in February. So that might be something people want to look at. But the announcement for that will be in January when you can start to buy tickets for that. Perfect, I will upload the same YouTube uh, same video on YouTube as well, so if somebody wants to contact they can simply uh, go to Billionsummit. com and buy their tickets billiondollarsellersummit . com yeah okay so here is that uh can you share a few reasons that why products fail on amazon how much time a successful seller should spend on product or research i mean unless you did not find product successful product you should find post you can add value Yeah, product research is something that you should never job out. Sometimes I see people, anybody got a good VA, I can do my product research. I would never do that. Product research should either be something you do yourself or you have one of your partners who's pretty high up in the company or a very experienced person does, but that's critical. So why do products fail on Amazon? There's a lot of reasons. The number one is quality. People just don't do, they don't do QC checks. They try to cut costs over in China, let's say. I don't want to spend $200 to have my product inspected. It's going to be fine. I saw the sample and then the product comes and it just starts falling apart and you get negative, bad reviews. That'll kill a product faster than anything. Another reason that they fail is people don't do their math right. Sometimes sellers are successful. They buy 500 of something. And they're like, holy cow, these are selling like 30 a day. And I'm doing well. I didn't expect to do this well, and then they run out of stock. And then they have to wait to get paid from Amazon because they don't have the money to call the factory to pay them the money. And they run out of stock for a month or two months or three months on Amazon. And you're basically starting over when you get back into stock. So that's another big issue that causes a lot of products to fail. Another one is competition. Um, you know you don't do your homework right, and you try to enter a market where the the reviews are too high, um, or you're targeting the wrong keywords. You're going after all the big keywords, people like looking for the keywords that have you know, like if you're selling a hand sanitizer for example, and you're you're trying to rank for hand sanitizer. You shouldn't be trying to rank for hand sanitizer; you should be trying to rank initially for smaller keywords like portable hand sanitizer party favors, that's a very long keyword it doesn't have nearly as many sales, it's just the word hand sanitizer, but you can rank on that one and sell five or ten a day and find five or ten products like that and and try to rank on those and then over time go after those bigger keywords. That's a mistake that a lot of people make, another one is they just they don't have The margins, you know a lot of people don't factor in all their costs. They think, well, the product costs $3. I'm going to sell it for $20. So I have a really good profit margin. $20 minus $3, $17. No, you don't have that. What about your landing cost? So to ship it over maybe costs you $2. Maybe the taxes and the warehouse fees and the Amazon labeling is another dollar or two. And then you have storage fees from Amazon. Then you have ACOS fees. You're going to have to spend a lot of money on your advertising, which might be another couple of dollars. And then you have Amazon fulfillment fees, and they keep going up. So at the end of the day, maybe it's $16 or $17 of your $20 is getting taken and all that's left is $3 or $4. And then somebody comes in and sells the product for cheaper. Some other seller comes and puts their product for $15. 99 and yours just quit selling and you don't have any ability because if you lower yours to $15. 99, now you're negative on everything. So that's why people don't have enough margin. You need at least 3. 5 to 4x margin on a product, ideally 5 to 5 or more. So that means if you're going to sell something for $20, the landing cost needs to be $4 or less. Otherwise, it's going to be difficult to have enough room to actually weather any kind of pricing changes that Amazon will make or competition may make. So that's another big problem. Uh, that causes a lot of products to fail and another one is people just don't they don't they don't come with enough money. They have five thousand dollars in their life savings and they like to spend all the five thousand dollars buying their first product, that's a mistake. You want to you want to divide that but whatever the amount of money is, you have to invest. Divide it by two and a half, so if it's five thousand dollars, that's how much money you have to invest. Divide that by two and a half, that's about two thousand dollars. So your first inventory should cost you no more than $2,000. So that means you're like, well, I mean, you're doing your product research and you need to find a product where you can, you can compete successfully by spending only $2,000 to buy that, that inventory. So if you find a product that costs $3 in China, but you need to order a thousand of them to make sure you don't run out of stock, that's $3,000 plus your shipping that product, even though it might look good to sell it. You don't have the budget to sell it, you need to go find something else so you got to find something else that fits that budget then why do you only spend 2, 000 out of your 5, 000 that you have to invest because if you're successful you're going to need to immediately call the factory and say 'hey I need more of these I'm selling these like crazy' you need to have that money sitting there so you can make that deposit and you're going to need to have that money there so you can spend a little bit on advertising and you have some software tools and stuff so that's another big mistake that a lot of people make. I won't take your time. What is your best advice to be successful in this business for the bigger sellers and for sellers who are just coming into this business and just stepping in? Learn as much as you can. Listen to as many free podcasts that are current. Be careful with YouTube. There's a lot of old information on YouTube that doesn't apply anymore, but stay current. Participate in some of the Facebook groups. Try to get to at least one or two events a year to meet other sellers. That can make a huge difference in your business. A lot of times it's who you know, not what you know. So there's a lot of advantage to getting out. If you can't travel to Las Vegas, meet up in Dubai. I'm sure there's meetups where they meet up in a restaurant or they meet up somewhere. Go to those things, as many as you can. Those kinds of things will help you. And just understand that if you fail the first time, That doesn't mean you're a failure, that this business doesn't work. Just treat that as a learning experience. So it's kind of like if you're trying to ride a bike, you have training wheels at the beginning, and sometimes you fall off the bike when you're a child, but that doesn't mean you never get on the bike again. You just keep trying. So sometimes some of the most successful sellers out there, they're doing millions of dollars in sales or sold their business for a lot of money. You can ask them. A lot of times they've had some products that they lost their butts on, and they're just like, okay, that was a mistake. We learned from it, and now we're going to move on, including me. I've had products where I lost hundreds of thousands of dollars on the product. For me, I only have about a 70% or 80% success rate. So any products that I launch, about 20%, 30%, they just don't work. Even though you do all the homework, you think you know everything, you do all your testing, sometimes things just don't work. And you just have to say, all right, that one didn't work. I know it's my baby. I spent a lot of time on it. I just gotta let it go, uh, and that's where a lot of people, they don't, they can't let the go product go, they're like, 'this is my baby but I know it's better. I spent so much time making it better, I worked my ass off, this is not fair, uh, you just gotta let it go, move on to the next one, perfect. Uh, thank you so much for today, uh, joining us in the AMC PPC Solutions, and we really took your time, and again, thank you so much, appreciate it. Thank you guys for joining us, so now I'm ending this broadcast, thank you everybody, thank you, bye.