TAS 002 How Scott Went From Zero To $47k In 90 Days Selling On Amazon

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149 comments
  • Hi Scott,
    Thanks for educating us ! Was wondering if I patent something and start selling it through amazon…would that prevent other sellers from selling it in amazon too? I mean normally it should right?

    • Hey Arezo, generally patenting something would stop people from selling it, period. Unless you give them the go ahead. Keep in mind that it’s an expensive and time consuming process, so if you’re not inventing a product from scratch, it’s usually best to just start selling.

  • Hey Scott,

    Can you explain a little more detail what you mean by a BSR 500? Trying to reverse engineer the definition and can’t get to your numbers.

    Thanks,
    Johnny

    • Hey Sanna,

      there isn’t a minimum amount, but sellers typically start with between 3 and 5k.

      There are sellers that start with significantly less, like Chris Gastin who started with just 500

  • Hey Scott.. I’ve been listening to RDM FFL Podcast since episode one and I was looking for someone that talked a little bit MORE about selling through FBA… I ended up finding out about you through Spencer at nichepursuits.com.

    I just took 2 pages of notes from this first podcast. REALLY great stuff. I do have ONE question.

    When you say 45 – 50% margin, do you mean before or after Amazon Fees?

    The reason I ask is this: My wife and I had a bunch of unopened gifts laying around. Originally, we were going to regift them for future weddings / housewarmings, but then I got to thinking. Let’s try to sell it on FBA to see what the process is like. So we used our iphone to scan the UPC codes, matched the lowest price, shipped the inventory to the nearest FBA DC and then waited. Some products sold for 5-10-20-25$$$. But we only got back like … 1, 2, 3, for each product. Small small amounts.

    Are you making 45-50% profit after fees? Or are you saying your COGS is 50%, which gives you another 50% to cover FBA / PPC / etc.

    I hope my question wasn’t confusing because of the long story in between. I guess if I bring it back to basics, my question is this. Is 50% your gross margin or your net margin?

    Thanks again for the great content. And looking forward to your answer!

  • Hi Scott,
    You are an AMAZING GUY! thank you so much for your podcasts! They are great!
    You mentioned in this podcast the SUPER URL link, i used it in my first product and it done a great job for me, but recently i heard from some sellers that they were punished by AMAZON for using the SUPER URL links. i wasn’t. So i was wondering what do you think about that? are you using a SUPER URL during your giveaways (through TOMASON or the FACEBOOK etc.)

    TNX, Maya

  • Hey Scott,
    First of all, as so many people have said, thanks for sharing. Most people want to sell this info. I understand you have to spend money to make money, but the courses are expensive, and, that cost makes me wonder, “If they’re making so much selling, why are they spending time selling a course and teaching a course, and charging so much?!” 🙂

    Anyway, my main question is what percentage are you spending on promotions?

    What, if you can say, was your initial outlay before you began to see any income?

    Like all of us, I’m wanting to increase my earning potential. I happen to be blind. Less than 25% of blind people are gainfully employed, and most of us have minimal income. Many of the rest rely on government assistance. I don’t want to be part of that statistic, and I’m glad I don’t rely on anybody financially.

    Ultimately, not having to pay for a course means I can save up more quickly to get started selling and earning!

    Thanks again!
    Rusty

    • Hey Rusty, it varies wildly from product to product. If you give a listen to a few of my income report episodes (BONUS episodes, as they are often marked) you’ll get a pretty good idea of how it breaks down.

  • Hey Scott, I’m a big fan of your podcasts and heave lately been asking a lot of questions and find that your advice is very helpful and I appreciate it a lot! i just have another question for you regarding Facebook Ads. I’m currently in the process of creating a facebook page on which I will post regularly and eventually introduce my product. I’m planning to do a giveaway for 30 people who like and share the post and will also run an ad which advertises the promotion. How can I send the people who I will chose, a link to a landing page which will allow them to use a coupon code to get the product for cheap? Where can I get this coupon code from? Will I be able to control how many people use the coupon code?

    Thanks for all your help,
    Mustafa Nauman

    • Hey Mustafa, if you’re doing it based on who likes or shares the post, you may want to use a promo software like shortstack to capture their email addresses, otherwise you’d need to notify them via facebook which can get tricky. The promo code would be the same one you generate from inside seller central.

  • Back on the transcript thing, if people are truly interested in getting the most out of the content, it would be worth their while downloading the podcast, playing it with VLC or something which can slow down, and do the transcription yourself. That way you get to understand the nuggets through three learning modes – audio, kinesthetic (writing) and visual (reading what you wrote) That’s what I’m going to do.

  • Scott, just joined your page and I want to say a BIG thank you for the information you share. As far as I know you are perhaps the only person sharing such valuable information without looking to ‘sell’ something!
    #respect

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