TAS 771 (Must Listen) My Prediction For Amazon and Online Business in 2020

What is it going to take to build and sustain a successful ecommerce business in 2020? Is there still any hope for budding leaders who are considering launching an ecommerce business in the New Year, or is it time to consider a different industry? On this episode of The Amazing Seller, you'll hear from Scott as he opens up about his ecommerce predictions for 2020, explains how to build a thriving ecommerce business, obstacles to watch out for, and more helpful insights. You'll want to have your pen and paper ready for this informative episode! 

Don't count on the old way! 

The old way of building and launching an ecommerce business around a popular item like fidget spinners are quickly disappearing. As more and more people flood the ecommerce industry, many are wondering what the best way to build an ecommerce business is as we enter 2020. While Scott has his approach, the truth is – building an ecommerce business is going to take time, patience, and dedication. Are you ready to give it all you have? Tune into this episode of The Amazing Seller to learn more about Scott's tried and tested approach, you don't want to miss it! 

Building a future-proof business in 2020

If you've been around the TAS community for very long, you know that Scott is passionate about helping sellers like you build out their brand and feature products on multiple channels. Why does it matter if your products are on multiple channels? Why do you need assets like email lists that are independent of Amazon? To secure a long term future for your brand! It isn't very smart to put all your eggs in the Amazon basket. Give your brand a chance to succeed and look for ways to plant seeds and build out alternative channels early in your brand, if possible. To get more info on how to future proof your brand, make sure to listen to this episode of The Amazing Seller.

Diagnostic questions to ask yourself

If you want to sell your product on Amazon in 2020, Scott has come up with several helpful questions you can ask yourself to see if you are ready. These questions are designed to help you think through your strategy and see if it is really up to par as you move into the new year. 

  1. How do you plan to sell your product? 
  2. How will you compete with other sellers with the same product? 
  3. How will you drive external traffic? 

Yes, Scott is giving you homework, but if you take the time to answer these questions, you'll see if you are on a strong foundation for your ecommerce business heading into 2020 or if you need to make adjustments. It's time to dig deep and plan ahead – but don't worry, you are not alone. The TAS community was designed for sellers like you who need people in their corner to keep going. Listen to this episode of The Amazing Seller as Scott expands on methods you can use to make 2020 a successful year for your ecommerce business!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [2:00] Changes in the ecommerce marketplace. 
  • [8:40] Why the old way of building an ecommerce business is DEAD. 
  • [11:50] What are you waiting for? Validate your niche market! 
  • [15:00] Amazon is going to make it harder for new sellers to succeed. 
  • [20:00] Watch out from gurus who encourage you to put all of your eggs in one basket! 
  • [24:00] Scott recaps his predictions for Amazon and ecommerce in 2020. 
  • [27:00] What does it take to succeed as an ecommerce business in 2020. 
  • [30:30] Key questions you need to ask yourself. 
  • [33:00] Why Scott is a bad teacher for people who don’t want to work or have patience. 
  • [39:00] Closing thoughts from Scott. 
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TRANSCRIPT TAS 771

TAS 771: (Must Listen) My Prediction For Amazon and Online Business in 2020

00:00 Over the years, it's become harder and harder and things have changed as far as launching and selling products on Amazon or on a single channel. What I'm going to share with you today is my predictions and also what you can do to win and grow and dominate your market in your business.

00:22 Well, Hey, Hey, what's up everyone? Welcome back to another episode of the amazing seller podcast. This is episode number seven 71 my name is Scott Voelker and I'm here to help you build a future proof business so you can create the ultimate freedom, but there's always a button you have to take what you learned from this podcast and take action and you can become the amazing seller of [inaudible]

00:43 your life. So if you're ready, I'm ready. Let's do this. All right. Well today what I decided to do, because we are fresh into this new year, welcome 2020 the time of this recording and this podcast airing is January 2nd, 2020 it's just kinda crazy to even say that. I am saying that number that year, it is just absolutely crazy. And the other thing that's crazy is while a lot's changed and a lot's happened since I started this podcast, which is approaching five years, which is just craziness and a over 15 million downloads and you know, thousands of listeners all over the world. So first and foremost I just want to say thank you. Thank you for being a listener, whether you've been listening for a month or five years. I just wanted to say thank you and I appreciate you and a man. It feels like we've been on a journey together for these past five years and it's also something that I want to highlight here because today I'm going to be talking all about my predictions for what's happening like now in moving forward and people that are selling on just Amazon or you know, people that are selling on just the eCommerce or online in general.

02:01 I want to really address where I feel the market is going and where I'm going to be spending my time. And the reason why. All right. But when we first started this podcast, it was all about me figuring out this Amazon thing because it was new to me at the time. And you know, you guys know my story. Any, anyone that's been listening for any period of time knows that, you know, I started in construction and then from construction, went into photography business with my wife and we were self employed and we did that for years. And then we went into an online, uh, you know, a course training type business for photography. Uh, physical products were a part of that. We had a membership site and then we started dabbling in eCommerce and Amazon and eBay and the podcast and well, here we are, right?

02:49 All of those things along the way. But I've seen the market change. I've seen it changing. I mean, since probably two years ago, I've seen change coming and I've talked about it. And that's why a lot of what I really talk about and teach now is all around brand building because it's kind of like going back to basics because even though Amazon was a trend in a sense or a hot trend to launch a product and get some sales and try to build that out, like it was working and it was a lot easier than it is now. But like anything, you know, once everyone kind of jumps in, it becomes harder. You start getting a, you know, black hatters in there, even gray hatters and uh, you know, or the platform changes or algorithms change. Like I've seen this in so many different situations and it's happening again and it's been happening.

03:42 And that's why I talk a lot about building a brand. Cause I've done that for years and it's treated me well and no one can take away these assets that we're building moving forward. Right? So that's what I want to talk about here today is really like what I'm feeling and what I'm seeing in what we're doing. You a lot of you know that, uh, you know, I have an Academy called brand creators Academy, which was started after we did brand accelerator live, the live event because a lot of people said, Hey, I would love to have more of a monthly ongoing, uh, you know, coaching and mentoring and, and also connecting with other brand builders. And that's where this came from. And while the time of this recording, we aren't open, but we are opening on January six 2020 for the first time in 2020.

04:32 And we do only open this a few times a year because we want to dedicate all of our time to really helping all of our members in there. So if you are interested in joining us and you're listening to this before January six or on January six or in that, in that window of time, a GoTo brand creators.com and uh, if we are open, you'll see it there. If we're not open, there will be free resources there for you. There'll, there'll be the brand growth validation checklist, some video training that I've done that is there throughout the entire year. But when we open enrollment, that then will give you more information about the Academy. So again, if you're interested, would love to have you. But really what we're doing inside of brand creators Academy is building out a brand following these principles. And at the time of this recording, and I'm recording this right now, it's actually the time I'm recording it.

05:19 Little secret here is I'm recording it before January 2nd, but, uh, cause I want to batch record a little bit so I can enjoy the holidays as well. But I wanted you guys to still have that steady flow of content and, uh, and being able to show up for you. All right. So, uh, right now the time that I am recording this, we're building a, uh, a live case study inside a brand creators Academy. And just today it's been the third day that we've been building the list in this brand and we actually show the brand, we show, uh, the market, you know, the setup. Chris just went through and set up all the Facebook ads and all of that stuff and we're showing everything. It is crushing it right now. Like right now we are, our, our list is over 650 in about three days. It's costing us about 18 cents per email address and they're very, very highly targeted and very engaged.

06:08 The Facebook posts that we're, that we're using in the ad, a rate now currently has, uh, let's see here, 94 shares and it has 65 comments and it's been liked or uh, hearted or any of the other stuff that they do on Facebook 245 times in three days. So again, really exciting stuff, but that's really what we're doing here in 2020 and moving forward is really building out a brand with an email list and all the things that I've talked about. But again, if you have not gone through that training yet, go to brand creators.com. All right, so let's, let's just dig in. All right. I think we all agree that a lot has changed. If you are coming into the world of online selling, starting your brand from scratch, or if you have been led in by someone else as far as getting interested because you're hearing that people are able to find products and sell them on Amazon, I'm here to tell you that ship has sailed.

07:12 Okay? And that is my prediction as far as if you are going to go down that road. Okay. And what I mean by that is if you're going down the road of just finding a product that match up certain numbers that say it's selling 20 a day, um, it has a 75 reviews, um, I think I can do a better job with the product by tweaking it. I'll deal with S a sourcing agent and, and a supplier and we'll, we'll tweak the product and I'm gonna have a really good product and I'm going to launch this thing and I'm going to do really well because the numbers say it's selling 20 per day. I've done all my research. Uh, it's, it's got a steady trend throughout the year. Everything is great. There's not a lot of sellers right now. Awesome. I'm going to do great. Here's the reality.

07:56 You're going to do that or someone will do that. Okay. Then again, I'm predicting this is still going to happen even though I'm saying in a lot of people that are, to me that are being real about this, they're going to say the same exact thing. Okay? Good friend of mine, Mike Jackness, uh, who he will, he'll tell you four years ago, a lot different than it is today and if he's starting over right now, it's not going to start. He's not gonna start over with just finding a product and launching it. You're going to do all of the other brand building stuff on the back end, because that stuff is really, really important. But if you follow that path, okay, I'm here to tell you, you may launch that product successfully four a few months. Okay, it might be great, but here's the reality. There's going to be other people coming in.

08:42 It could be a Chinese seller, which that is, I mean, that's happening right now and it's flooding the marketplace. Uh, the last time I checked, it's like 250,000 new sellers coming in. Like I'm Chinese sellers, we're talking, we're not even talking just like everyone in a whole, like, just that. And that's coming in even more. So that's what we have to, you know, to be aware of. Right? So what's going to happen here is you're gonna start getting some traction and then guess what, when someone uses a tool of whatever, you know, they want to use, a jungle scout is great. And again, I still, I still think that selling on Amazon, by the way, is still part of our, our monetization strategy. It's just not the entire strategy, right? So here's what's going to happen. I'm going to paint this picture for you. You launched the product, you get it up and running.

09:28 You're starting to sell 10 a day, 15 a day just by running PaperClick all right? And you've got an okay at paper click because not a lot of competition is there yet. And you're going to say, okay, this is great. I'm selling 10 a day, I'm selling 15 a day. My margins aren't perfect, but it's okay. And maybe you, you set your, your sights on, I'm going to sell this, I'm going to buy it for five and I'm going to sell it for 25 and you're like, the margins are great. Awesome. And then what's going to happen is those other people that are coming in, your product is going to come up on the radar, okay? Because you probably got the idea of a product from someone else that was selling it, right? And then now this person says, Oh, well they validated it for me.

10:07 So what I'm going to do is I'm going to come in and I'm going to do the exact same thing and then they're going to run into a similar situation as you because then they're going to go, okay, I'm getting some sales. They took a few of your sales, you've got your sales, okay, you're splitting up those sales and then all of a sudden they're going to say, or you're going to say, I need to lower my price a little bit so I can have the advantage. Then guess what? They're going to do the same and then you're going to do the same and then they're going to do the same. Before you know it, you're not making any money and now you're competing on the same playing field because you don't have anything else to drive traffic. You guys have been hearing, hearing me say lately, traffic to me is King.

10:42 If you have a content is King but traffic is King. If you have traffic, I don't care like where it's coming from. As long as it's targeted and you have some control over it, that is the power. The power is having your own traffic and then being able to guide that and direct that traffic to your products, to your affiliate, uh, recommendations, your referrals, maybe directing people over to a piece of content, whatever traffic is going to be the future for brands. All right? So you just need to wrap your head around that. Again, if you are thinking to yourself, you're starting with the product and you're going to launch the product and you're going to get it up and running and get to 15, 20 sales a day, I need to know what's the other part of it that you're going to be doing.

11:27 What other part of it is, is it going to be that you're going to be doing to drive external traffic? Okay? What is going to, what is that going to be for you? You need to answer those questions. And again, that's why I've said this over and over and over again. If you have not validated your market yet, you need to do that a SAP as soon as possible, okay? Because it is that important because if you validate your market and what I mean by your market, meaning validating your market can, can have these different growth opportunities. Okay. And what we go through in this brand growth validation checklist, which you can find that brand creators.com free. Now, if you go there, it'll identify if your market has traffic, it'll identify if you have the potential to build an email list, right? The reason why our email list is growing right now at a pretty rapid rate is because we validated the market and we knew that if we put something that they would want in front of them, that they would register, they wouldn't, they would raise their hand to enter and to be part of this and it's working because we validated the market.

12:29 We didn't miss that part, okay? If you just start with the product and then go, Oh, I'll fill all that stuff in later, you need to make sure that you can do all that stuff. Okay. Now who is going to win? Okay. With products on Amazon? To me it's brands. Okay. And they don't have to be massive brands. They just have to be a brand that has some external traffic that has ways to be able to get sales outside of their competition. So again, if you're thinking you launched the product, you're going to use pay-per-click. Everyone else is, you can get better at paper. Glad you choose the air quotes. You can get better than your competition, right? But there's always gonna be someone else that can be better, right? So you're using that same thing. Maybe you're going to run some coupon codes, right?

13:13 So maybe you have those things. Maybe you're gonna run a lightning deal and get a spike in sales and then maybe rank, but then they can do the same, right? But if you have that email list, well, we can stay front of mind. We can direct people to a piece of content that talks all about our product or other supporting products. Okay? Here's the cool thing. When you want to grow your business, if you have to grow your business by launching five more products, well, you have to launch five more products, right? That means five more sets of products that's going to take all that time to source them. It's going to cost money to get them here and you are taking a risk that those are all going to be home runs or even doubles, right? So a better solution to me, and this is where people are going to win is where you, yes, you have some of those products, but you're also going to have the traffic.

14:02 The traffic is then going to be driven to a blog or a website and then from there you can monetize that through a variety of different ways. Again, you can, you can start to open up what you promote as a brand, not even being your own product, being an affiliate for that product through Amazon associates or even a private affiliate network. All right? So that's, that to me is the ones that are going to win. Okay, so again, you, you just, I, I just really want this to be like, I'll wake up call if you're going down that road, just to be like timeout for a minute and just really consider this. All right. So that's number one. Okay. New sellers will continue to flood the market. All right? Now, number two, my predictions here are, or is Amazon will seller privileges. And what I mean by that is it's going to get even stricter, okay?

14:56 Yes. That means that it will also get rid of some of the, some of the scammers out there or some of the ones that are abusing the system. But it also means that they're still going to create different in terms of service that even if you're following the rules, they're still going to hurt you, okay? Because they're trying to protect the platform, but they're also not that great at like being like, Oh, you're a great seller so we're going to reward you. Like they're just not that way. Okay. And don't kid yourself thinking they are, they just want sales. Okay. And then you know, they're going to set up, you know, set these seller privileges to basically help you sell, but it's also going to tighten them up so you have to abide by them. And even though you do, it doesn't mean that it's going to be a home run for you or it's going to be a 100% success.

15:43 So Amazon will tighten the seller privileges even more and really crack down. And again, even on false claims, there's been people that have had false claims that are legit and Amazon doesn't care. So we just need to be aware of that. But that is something that I think is going to be even more and more in the coming months and years. Okay. Number three sellers, and this is a terrible one, but sellers will get stuck with product. People will lose money because they've went down this road and it might've worked for two or three months and then something happens. It could be a patent infringement. I just did an episode where I talked about, uh, one of our members inside a brand creators Academy. And one of the main reasons he's building a brand is because he was hit with a patent infringement and got stuck with $60,000 in inventory.

16:33 All right? If you miss that episode, you might want to go back to it, a little wake up call, but it also gives you some things to think about as you're developing a product. If that's what you're going to do. All right, and uh, you know, he, he was selling a thousand units, then he sold 3000 units and then he's like, I'm going all in on this. I'm going to buy five 15,000 units. Then all of a sudden patent infringement comes. It's legit. He, he overlooked it now he stuck with 60,000 units. Right? The other thing that's going to happen is they're still going to be review attacks. These are happening all the time. And when you have a product that starts doing really well, guess what? It gets the attention of other people that want to just launch products that are doing really well.

17:10 And then those businesses have a lot of money. They have deep pockets. I talked about that in another episode in the past where a lot of these businesses or brands that are doing $30 million a year, they're just, they are launching multiple widgets and they're just, they're taking 20 $30,000 thrown it out. A product going to try to, you know, really just kind of drive you out of the marketplace and hopefully get that product to stick. And if it doesn't, they just discard it and move on to the next because they have deep pockets. Okay. That's what we're up against. Do you have the ability to do that? What would happen to you if you had to take a $10,000 loss or what would happen to you if you had to take a 60,000 loss because the competition came in and undercut you, or a patent infringement was on union that you didn't, that you didn't see.

17:55 Okay. The other thing is a price war. Okay. Because again, if you have a price war, you start losing margin, then you're pretty soon you're down to no margin and now you're like, I'll take a loss just to get rid of it. Right? And that's what happens if you have nothing else to compete with, um, you know, with your, with your competition. All right? Uh, number four, big product only brands will dominate. And again, I just mentioned this, the ones that are going to, when on just building out like an Amazon only brand are the ones that have deep pockets. And I've heard some stories from a few of my friends that, you know, this is happening and there's actually investors that invest in a brand that all they do is, is launch just one off products in, in a variety of different markets. And they can do this because they have deep pockets.

18:45 So again, if you're only competing with other businesses that have deep pockets, can you compete on that level? Now if you have your own traffic and that traffic isn't just being driven through Amazon through search, now you have a chance right now, they're not going to have that same traffic that you do. Uh, the one example I love to share is Alex from travel fashion girl. Okay? She launched packing cubes in a really, really competitive market. Okay? She was able to do this because she has the traffic. She has over a million visitors to her website every single month. So she has that traffic that's going to pieces of content that she's created that educate people on travel, but also educate people on packing cubes. So all that traffic that's coming there, her competition doesn't have that. They don't have that traffic coming in. So those people that are coming in through her, uh, traffic, they don't know about the other competition.

19:50 They're going to come through her and they're going to go off of her recommendation and buy her product or her affiliate products that she promotes. Okay? That's the ones that are going to win. So it doesn't matter if I'm competing with a big massive brand that's dominating on Amazon. I've got my own set of traffic, my own email list, my own audience. Okay. Number five is gurus will still try and lead people to build an Amazon only business. And it's just the way it's going to be, right? Because there's always going to be someone out there that is going to say, yes, take that product and sell it on Amazon and then build a business on Amazon. Or here's another one. Take your product or products, launch them on eBay, build an eBay business. I would never ever suggest anyone build their business on a platform period.

20:44 Just wouldn't do it. Okay. If you want to do it as a little side hustle and you want to take a couple grand and play, you know, like the game and go for it. Like that's fine. I've got a friend of mine right now, I haven't talked about him much. Uh, but, uh, I might, I might actually, uh, dig in a little bit deeper and uh, and show an example here, but he has no, he has no co or Noah interest in building a full fledge business, but he does want to build a little side revenue. So he ended up not even going to Amazon. He went to eBay, he found, and I'm not going to give it away at this point, I actually got to talk to him a little bit about it. Um, but he took a product that went well with a really well known brand and then started selling this on eBay.

21:33 He bought, I think his first order was like 50 units. He bought them on Ali express, uh, and the ordered 50 units. They think they were nine bucks a piece. He's selling them on eBay for 25 to 30 bucks. And he started off just selling them on eBay. And the last that he informed me, and we're in the, or we're just past the holiday season, but during the holiday season, selling like 40 a day on eBay. [inaudible] crazy thing is, is he's still packing these things up and shipping them out, but he doesn't care because he's going to probably make an extra $4,500 maybe $5,000 from this little side hustle. Right. And that's fine. He's not leaving his job. He's not building this thing thinking he's going to have this eBay business only not doing it. Okay. But he's making a little bit of side money. If you want to do that.

22:21 I'm cool with that. Like that would be fine cause you're not building the business all on that one platform. So that's again, but the gurus out there are still going, there's going to be some, not all, but some are going to be still, you know, I, I couldn't do it in sleep at night. I couldn't be like, yeah, you know what, if you just find some products and then just launch them on Amazon, you know you're going to be successful. Now is there a chance you could do it and make it work? Probably. I don't think that it's a smart move because I think the risks outweigh the reward because again, I think about, you know, the guy that I talked about that has you know, $60,000 of inventory like, Oh, that would be terrible. Like I just would not, I would just not want to advise anyone to do that and I'm not going down that path myself.

23:10 Just not doing it. Okay. Now if like this new brand that we're building inside a brand creators Academy, we're not thinking about a physical product at this point. Right now we're thinking about traffic email list, we're thinking about affiliate offers, we're thinking about getting the traffic up so we can start turning on media vine and bringing it up to, you know, a certain number of traffic and dollars before we even introduce a physical product. Because what we can do is we can start to test different products as an affiliate. See which ones are doing well, ones that were driving traffic through those could be the ones that I could do a private label product from. But I'm starting there. See, I kind of reversed it. We can still do this and build up the platform and build up our own channel. And that's really what I want to do.

23:54 So again, let me just kind of go through those really quickly. Again. Number four. Yeah, there's actually five, but I'm gonna go to number one. New sellers will continue to flood the market. It's going to happen. There's no stopping it, okay? Cause everyone's going to still think, but I'm different. I can do it. Okay? Okay, good. That's fine. But there's going to be tons of people coming in the marketplace, okay? Number two, Amazon will tighten seller privileges even more. Number three sellers will get stuck with product. I hate saying that, but it is. It's true. It's going to happen. Okay? You're going to be patent infringements. There's gonna be review attacks. There's going to be price Wars, all of that stuff, okay? Uh, for a big product, only brands will dominate the Amazon space, okay? And the reason is, is because they have deep pockets and they don't care about losing 50 grand.

24:38 They'll just move on to the next, all right? And five gurus, we'll still try and lead people to building an Amazon only business. And I'm again, if, if there's a strategy out there that works for people, um, then you know, and, and you feel good about it, then go for it. Like, I'm not here to say that it can't work. I'm just saying like, to me that's too risky and I'm not going down that road. All right? So who will win or succeed? Well, to me, brands who use Amazon as a sales channel and not the starting point, they will win, okay? They have a much greater chance of building something that is diversified with traffic and with products and monetization strategies and ways that they can actually bring in revenue to the business. All right? Businesses with traffic will win because with that traffic, there's a whole bunch of things we can do.

25:29 Okay? Um, businesses with multiple revenue streams. Again, that comes from having ways that you can monetize. And that could be through, like I said before, affiliate offers, okay. That you're referring, maybe you are in the bass fishing, kayak, bass fishing market. You could sell a kayak, but you don't want to actually, you don't want to physically sell kayaks. You want to just promote them, right? That's what you're doing. You have ad networks. Once you get traffic, media, vine, ad thrive, uh, you also have maybe a digital product. Maybe you have a, there's someone in our, uh, Academy that has a digital product that they've added to their business. All right? Because it makes sense, uh, to be able to do that. You can have a ebook, you can have Kindle books. There's a whole variety of things you can do if you have the traffic and you validated your market that you can do this.

26:20 All right? Um, but here's the other thing. I want to say existing Amazon six and seven figure brands right now. Like they will win if, because they have a headstart, if they can validate that they can build out this brand, but then from there, build their own traffic. If they do that, they will have a much greater chance of succeeding even though they have most of their brand on Amazon at this current time. Well, there's still hope for them and they do have a headstart. But if they've built out this six or seven figure brand and they find out that they just did all these one off products, all these little widgets, what do you build the brand around? That's the hard part. And so really that's why you do need to go through that validation process. Okay? The brand growth validation checklist, brand creators.com, that's where you're going to want to go.

27:10 All right? Now, if you're new to online business and you're listening to this podcast for the first time, or maybe you've been listening for a little while, but you're new to this online business, my best advice is this fine. A market that has traffic and it also has products being sold to it. Okay? If it has traffic, but there's no products being sold or there was no way to monetize the traffic, doesn't matter how much traffic. Yeah. Right? So we need to find a market that has traffic, okay. And then products or ways that it's being monetized. Okay? And again, going through that validation checklist, you'll discover these, okay? Brands that create consistent content assets and create their own real estate. Let me say that again. Brands that create consistent content assets and create their own real estate, their own home base. Okay. I look at my real estate online, like a piece of real estate that I have that's physical.

28:08 Okay. I have this piece of property, it's mine. I own it. I control it. The beauty of being online though is if I had a, if I had a, a house, which I have an Airbnb property, which is on the Lake, so it's in a good location, but if that, if that area goes downhill, there's not much I can do other than take the house, move it, but if I move it, I got to move it to another spot on the Lake in order to have the same type of value. Right? The cool thing with an online business and online real estate is I just need to get the right traffic, so if I don't have the right traffic right now, I can start putting out more content and assets to bring in the right traffic. I can bring the right people over. So that's the advantage of having it as an online piece of real estate.

28:49 Little side note there for you. All right? Also brands that build their own email list and become front of mind in their market. So I talked about this actually a few different times once in my book, the take action effect, I've talked about it on Facebook lives that I've done, I probably even talked about it here on an on a past episode, but think about people that are coming to Amazon to buy products they're coming to buy, which is great. We love that there are buyers, but there's probably 5% of the people out there in your market that are going to Amazon to shop even though there's a lot of people on Amazon, right? So what about the 95% of people that aren't ready to buy right now but will in the next three months or five months or eight months? We need to stay front of mind.

29:37 The best way to do this is email list is you want to email your list on a regular basis with content. And again, this is everything that we're going through inside a brand creators Academy. We're actually showing alive brand build a case study, and we're actually in the process right now building that list. So depending on when you're listening to this, um, that list is growing really fast in three, uh, three days, a little over three days right now, over 650 email addresses. Uh, the engagement is crazy. Um, our goal is to get 2,500 emails. We're on track to probably get about 3,500 to 4,500, um, at about 25 cents, 30 cents an email address, which is just crazy. Um, but it's so important and that's why we're focusing on that. All right? But listen to what I'm saying. Okay, super, super important here. If you are only selling a product on Amazon and starting from scratch, please, before you make that decision, ask yourself this.

30:40 How do you plan to sell your product? Okay, so ask yourself that. How do you plan to sell your product? Another question, how will you compete against other sellers with the same type of product or same product that they have? Okay, so ask yourself that. How will you compete against other sellers with the same product? Next question. How will you drive external traffic? All right, how will you drive external traffic? Okay, so I want you to take a minute now going into 2020 or whenever you're listening to this, I want you to ask yourself those questions. How do you plan to sell your product? How will you compete against other sellers with the same product and how will you drive external traffic? Write them down, fill in the blanks. I want you to do that. It's really, really important that you do. All right. Now, let me just say this, there will be way more failures than successes of people following the find a product and launch on Amazon model.

31:47 And I hate to say it, but it's sad, but it's true. Okay? And I'm, again, I'm doing this episode because I want you to see what I'm, what I'm seeing or what I'm feeling and what I'm, what I'm doing. But I want you to really consider what you're doing right? And if you're thinking to yourself, I'm going to find a product and launch it on Amazon, and that's the model that you're following. Ask yourself those other questions. How do you plan to sell your product planning on selling it on Amazon? Okay, what other ways are you planning to sell it other than just that one channel? And how will you compete against other sellers with the same product? How you drive external traffic. Those are the main ones you're going to need to ask yourself. So I want to share something with you before we wrap up here.

32:29 You know, I've been talking about building a brand, you know, for probably about two years now. I mean, heck, I did an event last year, which we have another one coming up this year again in September called brand accelerator live. Uh, so if you haven't checked that out, you might want to brand accelerator live.com. You'll find all the details there, but I put out an email to my listeners to a my list. And it's funny cause not everyone on my lists is a fan necessarily. And I'm going to, I'm going to give you an example here. Um, I was told that I am a bad mentor, a bad teacher, and here's why. Okay. This is what was told to me. Basically the advice that I'm giving about building out a brand and building out your traffic and building your email list. They said, you know, Scott, it's a lot harder to do that.

33:22 It's a lot harder to build a brand and then just, you know, to just launch products you might be right. Because all you got to do with a product is find the product, get it sourced, build a listing on Amazon, sign up for your account, turn out a little bit of paper, click and a life is good and you're sitting on the beach, right? Well, you and I both know it's BS. Okay. And what I mean by that is the chances of you succeeding by just doing that are a lot harder. Okay. And a lot riskier. What I'm talking about is going to take some time. There's ways to speed this up, right? So people right now that are thinking, Oh well if it's got, if I build this content, you know, like you, you talked about this 52 X, uh, you know, traffic momentum challenge in a past episode and that's about going out there and creating a new piece of content every single week for your brand.

34:10 And that'll lead people back over to, you know, your business. And that's gonna take time. And that might take a year to do, but here's the deal, if you have an email list, we can amplify that content a lot quicker. So I'm building a list right now in this other brand. I can then send those people, those 650 people, I can send them directly to a blog post or a website post about something in my market so I can instantly start driving traffic. So it doesn't have to take that long. But in order to get organic, Google and Bing and Yahoo and all that traffic, the SEO side of things, yes it will take a little bit of time, but well worth it and less risky by the way. And it gives you more opportunities to monetize that traffic. So is it harder? I don't say it's harder.

34:52 It takes more patience maybe. Right. Less risky, but it's also you're building an asset, right? That will be there forever. All right. Um, but I was told, uh, that I just don't know how to teach people how to sell on Amazon. Like literally that's what they said. Like, no, I know how to sell on Amazon. I'm not going to teach a black hat. Because there's ways that you can go out there and you can manipulate the search and you can do all that stuff. And that's short term. It's also a way to get your band and all that stuff. But honestly, it may be a little bit harder, like I said, to build traffic in your brand. But I fully believe what I'm saying and I've seen it firsthand and I've seen it before. I even got into the Amazon game. I've done it numerous times.

35:35 I have friends of mine that have done it. I have right now that are doing it all right. But me personally, I would not be able to sleep at night if I did not give you the good with the bad right or the bad would the good. Okay. I just wouldn't, that's, I mean I'm, I'm real, I'm being real here with you guys and I want you guys to know that if you're my friend, right? Which you are, if you're listening to this, I hope you are right. I'm going to be honest with you and if you're saying, I'm just going to go ahead and launch a product on Amazon, I'm going to be like to be careful. Like what else, what else are you going to do here? And then I would go and ask you those questions. How do you plan to sell your product?

36:12 How will you compete against other sellers with the same product? How will you drive external traffic? What are you going to do to build your brand? Like those would be the questions, right? But if you're just telling me that stuff, I'm going to be real with you, just like I am right here. So I would say this, if you're hearing [inaudible], you can go out there and find a product or a handful of products and build a seven figure business. Uh, that's going to be really, really hard and you're going to probably have a lot of losses before you have some gains. But I'm just telling you, be careful. Understand the risks. If you're okay with the risks, go for it, right? But again, the risks are real. Okay. And I've heard it time and time again, so I'm not doing that. Um, I don't recommend anyone just going down that road.

36:58 Um, but again, my predictions are that if you are building a brand, okay, and it doesn't have to be a massive brand, just a brand that has traffic, has an email list and you are able to drive that traffic to resources and assets that will help the market. Money will follow. Period, you know, done right? Like it's to me, it is that simple, but it is going to take work. All right? But you know, I talk a lot about becoming future-proof and building a future-proof business. But the way that you become totally 100% future-proof is you go through this process, you build a brand, and here's the big one, guys, pay attention to this. You learn the process of building a brand, okay? What I'm doing right now in brand creators Academy is the exact same thing that we did two and a half, almost three years ago in the brand that I talk about as the new brand.

37:49 Okay? And we're up over 175,000 unique visitors per month. We already crossed a in a year's time, over 2 million page views. AdThrive money is coming in, affiliate money is coming in, products on Amazon are selling, right? Uh, eBooks are selling. Like all of that stuff, everything I'm talking about is happening over there firsthand, okay? Um, I've done it in the photography business when my wife and I went from a brick and mortar to teaching a Photoshop and uh, uh, you know, selling templates and all that, that all, it follows the same framework guys. [inaudible] but I've learned all of this by every single venture. Okay? Every single project I've learned. And then you just plug and play. So the way that you can future proof your business is to really first future-proof you and is by doing this and learning it and understanding the process and really ultimately taking action.

38:41 All right, but this is what I'm doing moving forward. This is what you know, my members inside a brand creators Academy are dedicated to, like I said, we're doing a 50 to a a 52 week challenge, which is basically we're going to create a piece of content every single week and post it minimum. Um, and that's really the name of the game is creating these assets that will live on and they're evergreen as we call it. So if you are interested in joining us in brand creators Academy, depending on when you're listening to this episode, we are opening enrollment to brand creators Academy on January 6th, 2024 a week. Okay. And then what we do is we, we close enrollment and then we focus all our efforts and our energy inside of the Academy. So again, if you are interested, make sure that you go through the free training@brandcreators.com okay. And then from there you'll have more information when we do open to enroll in brand creators Academy. And I would love to have you there if you're dedicated to building out a brand and not just following the, you know, find a product and launch it on Amazon model. Okay? So again, if you're interested, go to brand creators.com and at the very least go through the brand growth validation checklist. This will open your eyes and show you39:56 exactly if there's holes in your brand for growth. All right, so guys, that's it. That's going to wrap it up. As always, remember I'm here for you, I believe in you and I am rooting for you, but you have to, you have to come up. Say it with me. Say it loud. Say it proud. Take action. Have an awesome, amazing day. I'll see you right back here on the next episode. Hey, before you go, can you do me a quick favor? I would love for you to let me know how this podcast has helped you. If you could head over to iTunes, leave me a review over there. That would be amazing. I read every single one of them. Yes, I even read the one stars. There are a few of them there. Hey, you can't make everyone happy, and I totally understand that, but I would really, really love it if you would do that. The other thing is while you're there, if you haven't subscribed yet to the podcast, make sure that you do that way. You never miss an upcoming episode, so can you do that for me? That'd be awesome. Thanks so much and remember, I'm rooting for you.

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