Are you fired up and ready to go? How are you progressing in building your ecommerce business? Could you use some helpful tips and insights to get your brand in a better position to compete? You’ve come to the right place! It's time for another session of Ask Scott here on The Amazing Seller. On this episode, you’ll hear from Scott as he reflects on his recent trip to Sellers Summit, explains the direction he’s headed with TAS, and answers to questions submitted by TAS followers like you! Don’t miss this great opportunity to get tap into Scott’s excitement and energy!
What decision will you make?
It may sound crazy but did you know that the difference between success and failure comes down to a decision that you choose to make? When you boil it all down, you really only have two options in life and business. Do something or do nothing. Which will you choose? On this episode of The Amazing Seller, you’ll hear from Scott as he explains how making the decision to take action and do something can lead you down the path toward growth and opportunity. Are you guaranteed success if you take action? No! But once you get the ball rolling and experience failure and setbacks, you can learn from them and move forward. You won’t get anywhere by standing still! Hear more from Scott as he expands on this topic by listening to this episode!
How to use product inserts properly.
How can you effectively connect with your customers and fans? Is there a way to communicate with them through your packaging? Yes, there is! You can include something called, “Product inserts” to give more information to your customer on how they can use the product they purchased more effectively. The key here is, Amazon doesn’t want sellers like you to drive their customers away from their platform. This can be a fine line to walk. Find out how to use product inserts as effectively as possible by listening to this episode of The Amazing Seller, you don’t want to miss it!
Can you get rich quick using Scott’s ecommerce approach?
Let’s face it, the drive in many ecommerce and entrepreneurial spaces today is to get rich quick. If you’ve been around the TAS community for very long, you know that’s not what Scott is all about. He wants to help sellers like you build a business and become successful but that’ll take hard work and determination. On this episode of The Amazing Seller, you’ll hear from Scott as he explains why he doesn’t endorse the get rich quick approach. You can tell that this is an important topic for Scott, he gets pretty passionate and fired up about it and for good reason! Learn more about Scott’s mindset and what it’ll take to build a thriving ecommerce business by listening to this helpful episode!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:03] Scott’s introduction to this episode of the podcast!
- [3:30] Scott shares some takeaways from Sellers Summit.
- [6:30] You have two decisions in life, which one will you choose?
- [17:00] YOU are The Amazing Seller!
- [21:00] Question #1: Do you have any updated thoughts on product inserts?
- [27:30] Question #2: I have a 6 figure job, should I leave it to start an ecommerce biz?
TRANSCRIPT TAS 517
TAS 517: Ask Scott #161 – Advanced SELLERS Digital Marketing – Product Inserts in 2018 – TRUTH about This Business
[00:00:02] Scott: Well, hey, hey, what’s up, everyone? Welcome back to another episode of The Amazing Seller Podcast. This is episode number 517 and session number 161 of Ask Scott. This is where I answer your questions here on the podcast and I’m going to do it again today and today I am really excited to be back on the mic because…
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…I just got back from Sellers Summit in Fort Lauderdale. Now, you may notice, you may not, I feel it, is my voice is still coming back and the reason is because I did a lot of talking. I spoke, yes, but I also had a meetup, TAS meetup that is and also just a lot of networking after the event. If you guys have not attended Sellers Summit, I definitely suggest that you do next year and it's Steve Chou's event. Great event. A lot of great people there and the one thing I noticed is there's a lot of TASers that joined us this year.
When I did my presentation, I actually asked the audience how many of you are podcast listeners and about half, a little more than half of the room said that they were podcast listeners which was pretty awesome. So, really cool and had a lot of you come up to me that said, “Hey, I’ve been a listener for a long time,” or maybe, “I just started listening and I really, really enjoy the content that you’re putting out there,” and I learned a ton from listening to you guys and really just really motivated me to come back on the mic but also just know that I am reaching people like you and hearing what you want to hear more of really does help me. And I also loved it that a lot of people gave me feedback like good and bad and I’m going to talk a little bit about the good and bad but, I mean, nothing crazy, nothing like bad, bad but just like what they want to hear more of and maybe less of and stuff like that. I’m always listening because I want to definitely make sure that I provide value for you guys, but I want you guys to come along the journey with me and I don’t want to hold anyone back.
[00:02:04] Scott: All right. So, before we jump into all of that, I got to kind of do the routine stuff here. If you guys have a question that you want answered on an upcoming Ask Scott session, all you have to do is head over to TheAmazingSeller.com/Ask and you can do that, just leave your first name, where you’re tuning in from and a brief message and I’ll do my best to air it here on an upcoming show. Now let me also remind you, I did an episode not that long ago talking about switching gears a little bit, not leaving anyone behind like I said but definitely going in another direction as far as let’s talk about building a brand, let’s talk about digital marketing, let’s talk about digital products, let’s talk about building an audience, let’s talk about all of that stuff that goes into building a real business and that’s what we’re going to be doing.
So, if you have any questions on that, building a brand, maybe Facebook Lives, maybe how to be good on video, maybe how to start a podcast, whatever you have questions on, feel free to send them through that recorder, that voicemail recorder that I have there for you at TheAmazingSeller.com/Ask. I want to hear all of your questions. Now, the show notes to this episode can be found at TheAmazingSeller.com/517 so you can definitely grab those there.
All right. So, again, I’m reflecting a lot on what happened here at Sellers Summit. And I have to say like there’s two guys that really stood out to me and their brothers and they came up to me. I was talking and I’m doing a lot of talking like when I’m there and people are coming up to me and we’re shaking hands. We’re having a great time and I’ve seen a couple of guys just kind of standing off a little bit kind of waiting and then they finally got to come up and say, “Hey, I just want to shake your hand because you changed my life.” And then the other brother said, “Yeah, me too.” And I got chills. I mean, whenever I hear that it definitely makes me think differently when I'm here, when I'm behind the mic.
[00:04:01] Scott: I’m looking at those two guys like right now in my mind, I’m imagining the way that they looked, the excitement, the happiness and in what they’re doing and knowing that I had a small little part in that really, really does make this all worthwhile because let’s face it, guys. I’ve been behind the mic for over three-and-a-half years showing up every single week, Monday, Wednesday and Friday currently and have not missed a day and I do it because of that. I do it because I get to reach people every single day and, yes, I do talk about random stuff sometimes and a lot of you don’t mind it. You actually enjoy it. A lot of you told me, “Scott, I love it how I feel like I know you. I feel like where I am in life is where you were and where I want to go, and you can relate to me,” like that’s connection. That is exactly what I want. And you know what, you can take that and bring it right into your own business.
Why not make your customer base or your brand speak to people or help people? If you can do that, I’m telling you, if you can connect with people, you can really, really go far and your brand can go far. But those two guys really, really, I just want to give them a shout out and they know who they are. I don’t want to say their names without getting their permission. I may actually have one of them on and I believe he agreed to come on and kind of share his story because it’s pretty cool. He was in a little bit of a dark place and we kind of pulled them out of it and now he’s spending a lot of time with his kids and doing what he wants to do, and his other brother is living in Hawaii kind of living the entrepreneurial dream in a sense to where he gets to wake up and look at the ocean and go surfing and all of that stuff. But you got to get started before you can even have a chance. Like, I said, I was blown away at this success and a bunch of people came up.
[00:06:02] Scott: So, if you did come up to me, thank you for sharing that with me. It makes me feel good, but it also makes me get behind the mic and want to show up every single day, so I appreciate that. So, my takeaway is this and I got this from a lot of different people, people at all different levels, people that are just starting in this business, but came from another business or someone that’s been at this for a year-and-a-half or someone that’s built a multi-million-dollar business. It comes down to decisions. People make decisions. We all make decisions. We make hundreds if not thousands of decisions over the course of sometimes a month but there are two decisions in this case. One, do nothing. Two, do something. All right. It is that simple like you have the choice right now. Do I do this thing, or don’t I do this thing? And really, I don’t see that there’s anything in the middle because if you’re just kind of procrastinating, that means you’re doing nothing.
Because if you are just sitting there and kind of like thinking about what you want to do, that’s fine but you’re still not doing anything. We have to put something in motion in order to see what happens. Once we get it in motion then we can kind of react to it. We can go, “Oh wow, that just happened. What do I do now?” Then you ask the next question and every single person that I spoke to just about all said, “When I first started I was scared. I didn’t know if it was going to work,” and you know what, some of them said, “It didn’t work the first time, but I didn’t stop. I just looked at what I did, seen a couple of mistakes, tweaked it and moved on. Did it again or did something a little bit different.” But you’re doing something. I was facilitating a mastermind group and you probably heard that episode that Chris and I were kind of reflecting on that day but in that group just about everyone at the table said they failed their first go or maybe they got started and found out, “Oh, this isn’t the direction I really want to go. I want to pivot a little bit and I want to go over here,” and they took what they learned over here and brought it over here.
[00:08:12] Scott: But you have to get started. If you don’t, you can’t get started. You can’t get a result. And the other thing that I had seen is that all of us including myself including we had a panel discussion at the very end of the event. We had Greg Mercer of Jungle Scout who people would look at and go, “Wow. He’s got it all figured out,” and then you would look at Steve Chou got a great podcast and a blog and a great e-commerce business, great wife, great family. You think he has it all figured out. And you got Mike Jackness, and some of you that don’t know Mike, Mike’s a very successful e-commerce business and he’s got a podcast, EcomCrew. I’ll give him a little shout out there, a good friend of mine. We’re all sitting on there and we were talking about these struggles that entrepreneurs face including ourselves and it’s really lacking sometimes the focus because we feel overwhelmed of what we have to get done.
But after you figure out what you need to do, you have to focus and forget about everything else for a second and focus on where you want to go and where you need to apply the attention. So, understand that overwhelm is going to creep in. Whenever you leave an event, you’re going to leave overwhelmed. It’s just the way it works but it’s up to us to be able to shuffle it around, figure out the order that we need to apply it. There’s a lot of different things that I took away from the event that I could do but I’m not going to do right now. My good friend Pat Flynn always says, “Just in time learning.” Learn what you have to know now. You can write it down on the list. Yeah, I want to do the Messenger bot thing. I want to build the list on Messenger, so I can then push my product through Messenger along with email and then I want to set up a blog and then I want to like all of these different things. There are all these things you can do.
[00:10:06] Scott What thing is going to help your business right now? If you haven’t got started, you got to get started. If you haven’t launched on Amazon yet, you got to launch on Amazon then we move into phase 2 and that might be the digital market side of things. But that is something I see a lot of people struggle with is lacking the focus because they’re getting all of these different things thrown at them of what you could do and what you should do in other people’s opinions. Now, the other thing that I took away and this is really about TAS listeners in a sense because I was having a conversation with four different people that were listeners and they all were like just raving about the show, made me feel really good, got them started and all of them are up and running, they’re selling, and all that stuff and they say, “Scott, I still come back and I listen even though I’m up and running. And a lot of the stuff you talk about is newbie stuff, it’s for beginners and I still come back because of the energy because you’re there to kind of give me that lift to constantly be telling me to take action,” and that’s awesome. I’m glad to hear that.
But I also heard that they said, “You don’t really give us more advanced stuff, any more of the advanced tactics and strategies and all of this stuff.” I took that and I kind of processed that and it’s something that I’ve been thinking a lot about. That’s why I made that announcement on the podcast that I am going to be switching gears a little bit and I am going to be talking more about advanced stuff outside of just Amazon because here’s the deal. I am not going to be here to just say, “Hey, guys, here’s the next seven hacks for Amazon. You already know or I’ve already shared if you don’t know then just go to TheAmazingSeller.com/Workshop and there will be a workshop there that’ll show you exactly how you get started on Amazon and all of the things that you need to launch that product to get started but a lot of people think that there’s always going to be these hacks, there’s always going to be these shortcuts.
[00:12:01] Scott: Let’s get up and running. Let’s get selling, let’s do best practice stuff on Amazon. That’s our launchpad at this point but then we have to switch over and say, “Okay, now let’s start learning digital marketing.” I had a guy come up to me and say, “Scott, this is a great event. What other events are you attending?” And I said, “Well, here’s what I suggest,” and I didn’t give him any recommendations really for e-commerce because I think you can go to one, you can go to two, you can go to three, it doesn’t matter. You’re pretty much going to learn a lot of the same stuff. You just have to go out there and apply it. Where I would spend my time now is figuring out digital marketing and then he said, “Well, what does that mean?” I said, “Well, you want to learn how to drive traffic. You want to learn how to list build. You want to learn how to write emails and send emails. You want to learn about copywriting which is basically not copywriting like copywriting. Something like actually writing copy like good sales copy. That stuff. You want to learn social media. You want to learn how to craft great offers. You want to understand conversion metrics. You want to learn how to hire a team or at least a few VAs so that way there they can help you grow and build your business. That’s digital marketing.” Okay. All of those things. Nothing to do with Amazon at this point, guys.
And I’m going to be sharing a lot of that with you because, number one, I’ve been doing it now for the past 15 years online and a lot of you guys had known my story. I’ve been online now for a while, learned some things, been in brick-and-mortar then physical products, digital products, all that stuff, everything in between. And all is repeatable, it’s all stuff now that we have different tools, yes, meaning we have different platforms, social media platforms, we have email list building stuff. We have all that stuff, but we can then plug it into our business. So, I said, “I’d go to digital marketing event,” and I really don’t even care at this point what it is because they’re probably going to be talking about digital marketing.
[00:14:06] Scott: Like, there’s one coming up for ConvertKit. They have one. It’s great. It’s about building a platform. It’s about building – it’s about using traffic. It’s about building an email list. It’s about offers. It’s about all of that stuff. All of that stuff can be applied to your business. So, right now if you are an advanced seller and I mean an advanced seller. A lot of people think that they’re an advanced seller if they’ve already launched and they’ve got a steady run of sales. Let’s call that an advanced seller, that someone is actually gotten through phase 1 and now they need to move on to phase 2. So, if you’re an advanced seller, you need to learn digital marketing, period. You don’t have to learn how to hack the system or you don’t have to join an inner circle of people that are trading hacks. That’s not a business. You’re building something that is only working for 30 days and then you got to come up with a new one. I’m not a fan of that stuff.
It kind of irritates me to be quite honest with you because you’re just trying to find those shortcuts. Everyone wants the shortcuts. I mean, I like little shortcuts. A shortcut could be something that is just like, “Hey, don’t do that over there because if you do this over here, it’s going to be a better thing for your business. That’s fine. That’s a shortcut too. I helped you avoid that mistake.” Let’s call that a shortcut but not a shortcut that if you put in an extra keyword in the back end of your competitor and then you’re going to show like, no, we don’t need to do that stuff. If you build this stuff externally that you can then push sales when you want to, now you have the control, you also have the control of building a brand that is valued more by someone that would possibly invest in it in the future, building an audience, building social platforms, writing email, list building like all that stuff.
[00:16:01] Scott: So, that’s what I would say to advanced sellers. If you’re an advanced seller and you’re listening to this, I am going to be talking about that moving forward. I promise you that. I am going to be doing that. So, at this point, if you have a question, you advanced sellers that want to know something about that, digital marketing, use the ask feature here at TheAmazingSeller.com/Ask. All right. Just do that. Go ahead and ask that question. But again, forget the hacks. Okay. You do not need the hacks. What you need to do is understand digital marketing because what we’re going to be doing is we’re going to be focusing on brand building. That is what this podcast is going to be about. Now, let me also say this. Some people came up and go, “Oh, wow. I get to meet the amazing seller.” The amazing seller is not me. Okay. The amazing seller is you. I want you guys to build a skill set that you guys get to learn now and take with you forever.
Everything that you’re learning, everything that you are figuring out is making you stronger in the department of digital marketing because everything can be plugged into another business. Things that I did 10 years ago with email marketing, I’m still doing today. It’s the same principles. You got to learn how to get the attention. You have to learn how to get your message in front of the right people. You have to learn how to create a great offer, so people notice. It’s all basic stuff, just different platforms. So, I just really, really want you guys to understand that what we’re talking about here is skill sets that you’re building, and you will become the amazing seller. Okay. That’s what we’re after. So, I just want to clarify that. I’ll probably sprinkle that in throughout the next 100 episodes because I want that to be very clear. It’s not about me. It’s about you. You need to become the amazing seller.
[00:18:07] Scott: And selling is a dirty word to a lot of people. No, selling the idea to people that are your audience and that is your market and getting something that they need in their hands. I don’t care if it’s a garlic press or if it’s maybe, I don’t know, a patch kit for a tire. Whatever it is because you’re into, I don’t know, motocross or whatever, you’re still serving that market. It’s not selling necessarily. It’s selling the entire picture. It’s selling the entire experience. That’s what we mean by the amazing seller. I want you guys to develop that skill set. So, before we jump into, I’ve got two questions. That was one of them that I wanted to take some time to answer and I did here. I think I went on a little bit too long but that’s okay. A lot of you at Sellers Summit says, “Scott, I love it so keep it coming.” So, I am. But advanced sellers, you need to focus on digital marketing, period.
All right. Now, the other thing that I’m going to be talking about which kind of goes in with the digital marketing side of things is kind of like we can take people from our products and then lead them into some digital marketing is product inserts. I had a question about that that I want to address. Then the other thing that I wanted to talk about is this business in general and then like realistically like what to expect in six months, a year because sometimes people are out there thinking that they’re going to get rich overnight and that’s not what this is about. This is about building a real business, so I want to talk about that. I had something come up that I wanted to share because I think it’s important. So, before we do jump into the next couple of questions here, what I wanted to also say is if you guys are new, if you are brand-new, and you’re saying, “Scott, I’m at the beginning stages here. I’m not an advanced seller yet and I can’t get into this digital marketing thing yet,” then I would recommend checking out our new training called Product Discovery Bootcamp.
[00:20:05] Scott: And this really is the foundation of starting a real business because if you get this right, everything else is easier. We are going to eventually launch on Amazon, but we’re really figuring out what market we want to go into and also looking at the competition, looking at submarkets, all of that stuff, and that’s what we do inside of Product Discovery Bootcamp so here's going to be my little shameless plug. Definitely, go check it out if you guys are brand-new. This is a great foundation for you to get started on and it will give you the direction moving forward. So, head over to TheAmazingSeller.com/Bootcamp. I’ll give you that one more time, TheAmazingSeller.com/Bootcamp and I’ll also link that up in today’s show notes. All right. So, guys, I’m going to stop talking now so we can go ahead and listen to that first question and I’ll give you my answer. Let’s do it.
[00:20:57] Evan: Hey, Scott. My name is Evan. Like everyone always says, thanks for all that you do. Appreciate all the information that you share. My question today is about product inserts. I know you’ve talked on these a couple of times in the past. I’ve listened to those episodes but to my knowledge, the last time you talked about has been almost nine months ago, eight months ago. I’m not bad at math, right? But you talk a little bit about how do it at your own risk and what you thought was okay and what you thought wasn’t okay. I’m curious if your opinions/position has changed on this as I’m making a decision currently on what to include in my insert. So, any and all input here would be much appreciated. Thanks for your time.
[00:21:43] Scott: Hey, Evan. Thank you so much for the question and, yeah, inserts, product inserts, let’s talk about them. I’m a fan of inserts or even if it’s not an insert, something on your packaging that leads people to a web property that you own and then this way here, you can give them more value and then from there, they’ll possibly do more business with you or a way for you to get their email address so this way here you can constantly follow-up with them, deliver value, and then also get a repeat customer. Now, here’s the deal. Technically, you cannot drive traffic off of Amazon technically. Like, you cannot send an email through Salesbacker or Feedback Genius and you can’t direct them over to your website to buy something. That is very, very clear but you can have them go over to your website or maybe even your YouTube channel to give them more useful content to help them with your product that they just bought.
Like, if I bought a fishing lure and I wanted to see how it was used, the best way to use it, then I could see someone selling a lure, giving me a resource whether that’s a PDF document, like an e-book or whether that’s a video. It’s totally fine to do that. So, nothing wrong with that. You just have to be very careful that you’re not directing people over to your Shopify store let’s say where they can buy it there and not buy it on Amazon. Now, if you want to give them a special coupon code, that’s fine. I would direct them back to Amazon. This way here Amazon really can’t get mad. We’re driving traffic back to the platform. So, that’s the only issue I see is when people are trying to lead them off so this way here they can buy more of what they just bought maybe but not buy it on Amazon. I could see that as being a problem.
[00:23:49] Scott: I don’t see Amazon ever having a problem with you registering to receive a code and then you get that code because now you’re on the VIP list and then from there, you’re going to direct them back to Amazon. I don’t know how they would ever have a problem with that. I also don’t think they’ll have a problem if you sent people over to your website where you have a video that’s embedded on a blog post or maybe on your YouTube channel. I don’t think they’ll have a problem with that because you’re just giving them value. You’re giving them more information about the product that they just bought. Amazon wants you to give them the best user experience. That’s what they want. So, I don’t necessarily think there’s ever going to be an issue if you go and use that as your content strategy moving forward in that insert card but just understand this too, whenever you have an insert card, your take rate on that meaning what you ask them to do, that percentage is going to be very low.
If you get 1% or 2% of people to do it, that would probably be about average. If you get something more than that, well, then you’re doing really well but from everyone that I’ve ever heard do this with insert cards, it’s really low on the uptake as far as that goes. Now, what I would say is I would still put it there, it doesn’t hurt, but you want to make it where it’s useful and maybe if you have something that’s really expensive then a warranty would definitely probably be a better or a bigger uptake on that because obviously, they want to make sure that it's registered and it’s warrantied. So, I think you got to use your head like I can’t say 100% that Amazon is going to be okay with yours, but I know myself I feel good about sending them over to get more content and whether I want to have an email address in exchange for that content, I don’t think that’s a problem either.
[00:25:39] Scott: You can almost use it as like a customer resource, so you can put it on a landing page that says, “Customer resource guide or customer resources, enter your name and email address.” This way here it’s as you’re letting the business, us, know that you’re a customer and then from there you are led into this special area like I don’t see a problem in that. But again, like I said before, I can’t say 100% certain that they would have a problem with that. I don’t think they would. I’m doing it. I don’t see a problem. Big companies are doing it, Sony, all of the big ones, right? If you ever get anything from them, they’re always driving them back over to their website. So, just again, you got to use your common sense on this one, but I wouldn’t worry about it myself. So, just be careful but also know that I wouldn’t base like or I wouldn’t focus all of my attention on an insert card.
I would give it to the people that are buying it more for the information that they need so this way here they can use it properly, they understand it, and then more resources like that’s it. Like, you’re just trying to make it a better customer service or a customer experience and you also when you give them more stuff like that, it makes them also feel like you're trying to help them which is always a good thing. So, hopefully, that answers your question. And the way that I always do it, guys, like I said, is take your insert card, have it say like one call to action, one thing that they can do and then drive them over to a webpage of some kind, a landing page and then grab the email address in exchange for what you’re promising them like that’s what I would do. I would always try to put it behind an email opt-in. All right. So, I don’t have another listener question. I do but I’m not going to air it here today because I wanted to address this last question.
[00:27:35] Scott: And the question is this, “Scott, I have a six-figure job right now or six-figure income job right now. I’m at six figures a year at my current job and I want to leave that job in six months. Should I start an Amazon FBA business or a private-label business, an e-commerce business, whatever you want to call it? Should I do that? And if I do, is that possible?” And my answer would be probably not. Number one, even if you launched and you got yourself to $100,000 profit in six months if you did, that would be rare but if you did do that, I would never leave a job that you’re depending on because you have success on Amazon only. It’s very risky because if Amazon decides to shut you down, you’re down. You have nothing else coming in, so I would never ever recommend that.
And the reason why I’m saying this, the question came up actually from one of my wife’s friends and she had kind of given my name out to someone that was in this situation and she goes, “Oh, you might want to check out this,” not knowing anything about me, not knowing anything about the podcast. And so, this person is coming into this with the mindset that if I follow what Scott and others are sharing, I could have a business up and running that replaces my six-figure income right now. Now, if I had that conversation with that person, I wouldn’t have said that. I wouldn’t have recommended that you start this thing with the expectations that you’re going to be able to leave your job of six figures in six months, never ever would I recommend that. Now, what I say that you could possibly get there in a year? Yeah. Possibly. I would say more like a year-and-a-half to two years for a six-figure replacement. That would be in my head.
[00:29:36] Scott: That would be also with the mindset that I’m going to go in there and focus for the first year on getting to that six-figure number and I actually talked about this at my presentation in Sellers Summit. And the way that it looks is like our focus for the first 12 months is to find three products that are related to each other in my market or in my submarket that would go well with each other and then get them to $100 profit per day so that would be $300 per day profit that would get me to the six-figure mark in profit. And again, that’s if everything goes well. So, that’s all that we would focus on. The second part of that, the second phase is now we’re going to start talking about digital marketing. Now, we’re going to start talking about all of the other stuff that would round out the brand. We’re going to talk about a sales funnel which we’re just starting now after the first 12 months. It’s phase 2 and that’s where we do maybe a free plus shipping offer.
So, now we take something that we know the audience or the market is into. We offer it free, but they have to pay shipping, maybe $4.99. We then get them to take that offer and then on the backend of that, we offer them something similar or maybe two or three more of the same and then we try to get that to turn into its own six-figure funnel. But that’s 12 months in. So, I would never say out-of-the-gate that you should have the mindset that you’re going to do this thing and then in six months you’re going to be able to leave your job. Anyone that is saying that shame on them and I hope that you don't take that seriously. If it happens, great, but I don’t believe it’s realistic especially this business model and I don’t believe that at any other business model out there that that’s going to happen. Everything would have to align perfectly. Everything would have to go right, and nothing could go wrong.
[00:31:35] Scott: I just don’t believe that it’s possible unless you have a huge amount of funding. You have a huge investor and you go really aggressive, but I still don’t think that you can build that out in a years’ time and sit back and feel comfortable about leaving a six-figure job. Now, if you have that six-figure job and you have some cushion in the bank and you’ve got a little bit of a runway then, yeah, maybe you could do that and then you know that you’ve got another six months or eight months to do that. But I’m not going to be here giving you the expectations that you’re going to go out there and create a six-figure profit business and leave your job in the next 12 months. I just don’t think it’s realistic. Some people might disagree. I wouldn’t feel comfortable sleeping at night if I had you believe that through my message. My message is, yes, this can work. Yes, it’s going to take work, but you have to do this in stages and in phases and any business works like that.
If you bought a franchise, you’re probably not going to make that six-figure profit on the first year. If you own a Dunkin’ Donuts and you buy that franchise with all the expenses and the employees and everything, you’re probably not going to come out on top the first year. You’re building. You’re reinvesting and that’s huge. Anyone that I’ve talked to, everyone that I’ve talked to for the most part all says the first six months, eight months, just reinvesting, reinvesting. I talked to a guy actually I Ubered over. He was a fan of the show too. He says he’s been listening since the beginning. He’s at about $3 million a year. He still got a full-time job. He’s at about $3 million a year. Still hasn’t pulled a profit and the reason is, is because his play is, “I’m just going to keep building this thing and building this thing and maybe in six months I might leave my job,” but right now he’s just building and just keeps reinvesting and building it bigger and hoping to get it to 5 million.
[00:33:35] Scott: Again, that’s revenue number, guys. So, get it to 5 million but getting it to 5 million is also going to take more resources to do this thing but I’m just giving you an example. Like, the right mindset is to really give yourself the right expectations and understand that this is a real business. There will be sticking points. There will be ups and downs throughout the journey. There will but you’re going to learn. If you start, you will learn. If you don’t start, you won’t learn. It’s that simple. It’s going back to what I talked about in the beginning. Decisions. We have to make decisions and your first decision is, “Yes, I’m going to go ahead and go forward with this. I’m going to stick to the plan. I’m going to give myself that 12 months. I’m going to start today and I’m going to look back in 12 months and see where I am.” The other thing that I heard a lot of people say at the event was this, “I was at this event last year.” This is them talking. “I was here last year, and I was totally brand-new, and I didn’t understand half of the languaging. Like, I didn’t understand FBA even. I didn’t understand what BSR was like I didn’t know what any of that stuff meant.”
All of the technical terms, didn’t know it. Now, it’s like, “Oh, I get it.” Never heard of an opt-in box. Never heard of a landing page or a squeeze page. Never heard of an autoresponder but now you’re at the conversation a year later and it all makes sense. It’s like throwing yourself into another country with another language, eventually, you’re going to start picking up on it. And that’s basically what we’re talking about here, but you got to get started in order to start to learn and just start to understand the process and the system and what I’m trying to do here, really, really hard on this podcast, is give you guys the building blocks of what it takes to start, launch, and then build a brand. That’s exactly what my mission is here is really to help you understand the entire process including digital marketing and then from there, be able to build these awesome brands that you can feel proud of but then also you can provide for your family and who knows, maybe even exit one day.
[00:35:49] Scott: All right. So that’s what I wanted to talk about here at the very end because I think it’s important and that kind of came up, so I wanted to give you the truth about this business and kind of really just get real with you for a minute. All right. So, guys, that is going to wrap it up. Kind of a little bit of a rant-y episode but I felt like it needed to be done. I did so I did it. I feel good. Hopefully, you feel good. Hopefully, you’re energized and hopefully, you’re looking forward to what’s to come because there are a lot of cool things that I plan, and I can’t wait to talk more about. So, guys, I’m going to remind you one more time, the show notes can be found at TheAmazingSeller.com/517 and then also if you are at the very beginning, definitely check out Product Discovery Bootcamp. You could find all the details at TheAmazingSeller.com/Bootcamp. All right. So, that’s it, guys. That’s going to wrap it up. Remember, as always, I’m here for you, I believe in you, and I’m rooting for you, but you have to, you have to, come on, say it with me, say it loud, say it proud, I’ve got so much energy after Sellers Summit, let's go, baby, take action! Have an awesome amazing day and I'll see you right back here on the next episode.
LINKS MENTIONED IN THIS EPISODE
- Sellers Summit
- Jungle Scout
- Greg Mercer
- Steve Chou
- Pat Flynn
- Mike Jackness
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