My Email to a Frustrated Seller

I received an email from a fellow seller that is feeling a bit frustrated with his business. We’ve all been there so I thought that some of my comments to him might encourage others as well. 

Here they are:

 

Don’t give up.

There is so much inventory out there that it’s not worth dealing with the low profit, high competition items.  Here are some quick ideas I have.  If any of these aren’t a fit for you then just ignore them.  :)

- Continue what you’re doing but differentiate yourself.  If you have a high competition item that sells well then create your own multi-pack or bundle.  Let’s say you’re selling a popular health/beauty item.  Make it a 2 or 3 pack and own the listing for a while.  Or bundle it with something hard for other sellers to find like a special coffee mug with a bag of coffee or a gift bag with a set of lotions.

- Wholesale – I love buying wholesale because once I find a good selling item it is replenishable.  The same strategies with bundling and multi-packs can be applied here.

- Thrift store, garage sales – The profits from this type of inventory is remarkable.  Buying items for $2 and $3 and selling them for $20, $30, and $40 is not unheard of.

- Consignment – Find a friend or family member that will give you their items to sell and split the profits with them.  This means no out of pocket expense for you.

Also, if you’re in a position where you need to be at a certain profit amount per month quickly I would say there is nothing wrong with getting a part time job or doing something else to make ends meet while building this business.  This is not a get rich quick business and you definitely don’t want to put pressure on yourself to make it happen in a certain amount of time.  Obviously the more money you have to invest the faster it can build up, but I know many sellers that started with $500 and have 6 and 7 figure businesses now.

I don’t want to oversimplify this business, but it is pretty simple – Find inventory that is selling for more on Amazon, ship it in, repeat.

Most of all, don’t give up.  If it takes you longer to build it than someone else – who cares?  The fact that you started and took the leap is commendable.  Most people are content to work their 9-5 jobs and have no desire or drive to build a business.  You have done that.  And because you’re reaching out for help means you want to succeed.  I guarantee you that you can do this.  Just keep doing what you know and the other piece of advice I like to give other sellers is don’t build this business alone.

There are plenty of free communities on Facebook and elsewhere that you can network with other sellers and get questions answered.  My favorite Facebook group is https://www.facebook.com/groups/mysilentteam/

I hope I’ve helped you in some way or at least encouraged you.

Don’t Ever Give Up!

dontgiveup

I know there are times in your business when sales are slow or it seems like finding good inventory is difficult and you question whether you should continue. Those are the times when you have to remember why you’re doing this business. If you don’t have a “why” get a “why”.

There will be challenges, but you can and must push on and press on.

You can reach your goals and have your dreams!

The 2 pieces of practical advice I want to share (and you’ve heard these many many times before):

1. Write down your goals and break those goals down into daily to do lists.

2. Get in a community of like-minded individuals. Don’t do this business alone. I highly recommend the FREE Facebook group at https://www.facebook.com/groups/mysilentteam/

That’s all for today.  :)

Wholesale Help for International Sellers

I have been getting a lot of questions from sellers outside the US about how to purchase wholesale products and have them sent to Amazon.com. As you probably know, wholesalers require a sales tax permit and that can only be acquired if you have a business in the US. After some research, I found a [...]

Continue reading...

MM8 Conference Recap

“Awesome” “Next Level” “Life Changing” These are some of the words the attendees used to describe the MM8 Conference that me and my mastermind buddies hosted this past week in Dallas. We are truly deeply humbled to hear that kind of feedback. Two of them told us that they could have gone home after lunch [...]

Continue reading...

Multiple Streams Continued and Expanding Internationally

Have you ever just stared at your computer not really knowing what to do in regard to your internet marketing business? How do you know where to start? There seem to be so many opportunities that you can become paralyzed by analyzing every possible business model. I certainly have been in this position. In my [...]

Continue reading...

Multiple Streams of Income and An Online Sourcing Opportunity

I know you have heard the term “multiple streams of income”. In the internet marketing world some possible streams are: A physical product business such as selling on Amazon and eBay  Helping offline businesses get their business online  Coaching other online sellers  Writing and selling an e-book on a subject you’re knowledgeable about  Setting yourself [...]

Continue reading...

Do you prefer the Stairs or the Elevator?

(For a replay of our 16 minute Spreecast from New York City announcing our exciting news please click here – http://www.spreecast.com/events/live-from-new-york-city) I just returned late last night from New York City where I had the opportunity to attend the Coffee Fest Trade Show with 3 of my fellow mastermind members. I firmly believe that one [...]

Continue reading...

There Is Gold in your backyard and CES Conference Videos – Half off until tomorrow 2/24

There Is Gold in your backyard  I had the tremendous opportunity to speak at a small internet marketing conference in Denver this past week. My wife was able to come with me and we took some time to sightsee. We were doing some shopping and walked into a small shop that specializes in antique maps [...]

Continue reading...

Finding a Mentor, CES Videos, Lifetime Access to MySilentTeam.com, and Offline Biz

Webster’s dictionary defines a mentor as a “wise and faithful counselor.” In my personal life I look to my father as the man I want to be. In my business my mentor is Jim Cockrum, recently named one of the most trusted internet marketers. I have been following Jim since about 2004, but I had [...]

Continue reading...

Thank you and Top Questions from Readers

I am truly humbled by the response I have received to my book. Thank you to everyone who purchased it and I sincerely hope it’s a blessing to you and your business. Below are the top questions I have received from my readers along with my answers.

Continue reading...