TAS 529 ASK Scott #165 – Prep for Prime Day 2018 – Chinese Sellers – Adding Seller Accounts and Business Names

What is the status of your ecommerce business? Are you firing on all cylinders or do you need an extra push in the right direction to regain momentum? If that’s the case, 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 shares his thought of the week, tips for Amazon’s upcoming Prime Day, answers to questions from sellers like you, and much more! Grab pen and paper, you don’t want to miss a minute of this helpful episode!

Stick to the plan!

As an entrepreneur, you are used to your mind going a million miles a minute. In fact, you might really relate to that well-known fact about how sharks can’t stop swimming or they’ll die! As much as you love the idea of starting new things and jumping to that new shiny object, it’s vital to your success to slow down and stick to a well thought out plan. Fight back that urge to do this and that – zero in on what will make your business grow and get in the best position for long-term success. To hear more about his important topic, make sure to listen to this informative episode of The Amazing Seller!

Tips for making the most of Prime Day.

As an Amazon seller, you are likely gearing up for Prime Day. What steps are you taking to make sure your business is best prepared for that day? Are you getting anxious? Could you use some helpful tips that will get you headed in the right direction? Look no further! On this episode of The Amazing Seller, you’ll hear from Scott as he shares a few tips that can help sellers like you.

  • Check your inventory!
  • Look at your pricing – do you need to make adjustments?
  • Consider lightning deals.
  • Connect with your email list and offer them a discount to drive traffic.  

Hear from Scott as he expands on these tips and much more by listening to this episode!

Is it practical to compete with Chinese sellers?

As you head into Prime Day and continue to build up your ecommerce business, you may be wondering, “Is it worth it to compete with Chinese sellers?” On this episode of The Amazing Seller, you’ll hear from Scott as he shares his thoughts on competing with these sellers. While it might be frustrating to have a seller come in and start cutting into your business, you’ve got to think smarter! Scott encourages sellers like you to refrain from panicking and instead of lowering your price to compete, increase your PPC budget. If you’ve done as Scott has taught, more traffic to your listing will increase your sales over your competition. Make sure to listen to this episode as Scott goes deeper with this topic to help you succeed!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [3:20] Scott’s thought of the week; stick to the plan.
  • [6:20] Plant seeds today so you can harvest them tomorrow.
  • [8:20] Tips for preparing for Prime Day.
  • [14:50] Question #1: How do I compete with Chinese sellers?
  • [25:20] Question #2: Is it a good idea to create a second account and change my name on my account?
  • [33:30] Closing thoughts from Scott.

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TRANSCRIPT TAS 529

TAS 529: ASK Scott #165 – Prep for Prime Day 2018 – Chinese Sellers – Adding Seller Accounts and Business Names

[INTRODUCTION]

[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 529 and session number 165 of Ask Scott. This is where I answer your questions here on the podcast. I’m going to do it here again today and, yeah, I’m excited because…

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…we’re already in the middle of June. Can you imagine? Like the middle of June like we’re getting nice weather. We’re able to hang outside more. I don’t know about you, guys, but I generally get in a better mood when the sun’s out and when we’re able to do a little swim in the pool, take some more walks, all that stuff. Don’t get me wrong. Where I am right now in South Carolina the weather isn’t that bad even in the winter but this stuff here is awesome, but I know how fast the summer will go. So, guys, enjoy the summer that’s just about here upon us.

Now, with that all being said, there is a very special day that’s going to be coming for us all that are selling on Amazon primarily and that is Prime Day. And right now, I’m going to throw the date out there but again that date has been known to change in the past, so I just want to just throw it out there. It may change but I’m pretty sure if they’re posting it then it should be but I’m going to say it’s going to be July 10. That’s what I’m seeing, that’s what I’m hearing but let’s just say around that time. We need to be prepared for that so we’re going to talk about that today and really what that looks like and what we’re doing and what I think that you should be doing or anyone that is wanting to take advantage of this. Now, the other thing we’re going to be talking about is Chinese sellers. It’s been a big topic, a hot topic and a lot of sellers are scared by this and you know what, you probably should be a little bit. We’re going to talk about that. And then adding sellers accounts, different sellers accounts, and business names, how do we deal with all that, I’m going to talk about that right there.

[00:02:01] Scott: Now, before we do jump into that stuff, I got a couple of things that I want to talk about. Number one, if you have a question that you want to ask here on an upcoming Ask Scott session, head over to TheAmazingSeller.com/Ask. You can do that. Now here’s what I want you to do. If you have any advanced marketing questions at all, not just Amazon, I want you to submit those questions too. And what I’m talking more about here is digital marketing. What does that mean? Well, we have traffic, outside traffic, paid and organic. We have list building. We have offers. We have content. We could have video marketing, all of that stuff, social media, different channels, funnels, all that stuff. If you have questions about that, please submit those as well, TheAmazingSeller.com/Ask. As you guys know, I am really focusing on building brands and helping you build brands, so we don’t have to necessarily worry too much about the Chinese sellers as much. We’ll talk about that a little bit more. So, that’s what I want you to do.

The other thing is the show notes of this episode can be found at TheAmazingSeller.com/529 so you can go grab all the notes over there. So, let’s talk about what’s kind of been going on in my mind a little bit lately. There’s a lot of stuff. And I don’t know about you, guys, but if you are an entrepreneur, your mind usually doesn’t stop and there’s really not a lot that we’re going to do to handle that. We can try. We can try different exercises or keep ourselves busy with something else, but your mind is still cranking away. It’s still thinking. It’s always wanting to create something new because it’s fun. Like, when you’re first thinking about starting something, you get all excited and then it lasts for a little bit and then it kind of fizzles because it’s not new anymore. But we need to stick to the plan.

[00:04:02] Scott: And I want to go back to what my good friend, Pat Flynn, has taught me and he said it for years now is just-in-time learning. So, if there’s something that is a shiny object, it could be the new Messenger bot or whatever, it could be the new thing, if it’s not something you should be working on right now, do not work on that thing right now. Slide it to the side. As tempting as it is and as fun as it’ll be because it’s something new that we have to figure out because between you and I, we love figuring out things even though we don’t like to admit it. We’re like, “No, we want everything to go great.” No, we really want to figure things out. We want to have challenges. We want to be able to grow as a person. So, yeah, just stay the course and understand that no matter what we’re doing here or what we’re trying to do to stay focused, we’re always going to be distracted. It’s just the way that it’s going to be and it’s even easier to get distracted because we have all these social media and everyone kind of throwing stuff at us and it’s normal. We’re going to have that stuff.

I mean, you probably should set some designated times to look at your social media. That would be one step, something I’m working on, and I only look at social media for a certain time maybe and that will help us stay less distracted. All right. But that wasn’t really even the message that I wanted to share with you guys today. So, let me just share one other one and this is something because it does go into what we’re going to talk about for prepping for Prime Day in 2018 or any Prime Day for that matter or any big day, any big holiday, whatever. We still have to kind of look at the same principles. Prime Day has been known to be really, really big, though it’s kind of like Black Friday in the summer and they do that because they know that the summer months are generally going to be less traffic. Now, if you don’t know that, you know it now. In the summer, depending on what you’re selling unless you’re selling beach accessories, is probably going to be your slowest month or months. So, just understand that. A lot of people are vacationing. They’re not really on the computer as much even though they have their phones, but Prime Day is a way to boost that so that’s really cool.

[00:06:02] Scott: But here’s the thing. A lot of people don’t plan and they don’t think of these big days. These big days don’t necessarily have to be our big revenue like place. It’s not like we’re banking on these. I don’t want to ever bank on a certain holiday or a certain day, but we can take advantage of that. So, the message that I want to share with you is we need to plant seeds today, so we can harvest them tomorrow. Now, I didn’t make that up I don’t think. It just kind of came off my head here. It came out of my thoughts, but I’ve heard it somewhere before, something like that. I don’t know if it’s exactly that thing. So, if someone did come up with that, I wish I could give them credit, but I just remember hearing that. Like, the seeds that we plant today we can then harvest them tomorrow. That’s what we’re doing. We plant the seeds today, so we can harvest them tomorrow. A perfect example of this is we started a new brand before fourth quarter in 2017.

We did a lot of work up to that point, six months’ worth of work, and then, boom, we had a six-figure month in December, in only December. That’s not even fourth quarter. That’s not even the entire fourth quarter. So, we planted the seeds all the way back in April, so we could capitalize and have everything in place for fourth quarter. So, we planted the seeds and then we harvest. That’s what we have to – we have to think about it that way. It’s not like going in your convenience store and buying a Scratch-Off, scratching off and hoping you win. That’s not planting seeds. So, everything that we do we’re planting seeds. We’re creating assets. We’re creating things in our business that can then pay us tomorrow, not necessarily today. And if we get that straight in our head, we’re not going to be expecting things right out of the gate. So, just remember that. You might even want to write that one down. Plant seeds today for your harvest tomorrow, something like that. You get the idea. We plant the corn, so we can then harvest it in July.

[00:08:01] Scott: I think the saying was something along the lines. My father will be able to correct me on this like knee-high by Fourth of July is the harvest of corns, sweet corn, the plant. He was always planting corn on the farm. So, that’s it. Plant the seed so we can have the harvest tomorrow. So, really let that sink in. Understand the things we’re doing today will help us and we can grow for tomorrow. And again, Prime Day is a perfect example of this. Depending on when you’re listening to this, if you’re listening to this when this airs, you’ve got right around a month. Now, hopefully, you’ve already got inventory and we can kind of dig into this stuff because this wasn’t a question that someone submitted. We’re going to talk about the other couple of questions that were submitted. This here is really important, and I want you to have enough time to kind of plan for it. Now, you might not have enough time to go order a whole bunch more inventory or maybe you’ve got some more coming on the way, whatever, but you definitely want to check your inventory and if you can get an order if you needed, if you think you’re going to do well, then you’re going to want to make sure that you have it.

And also, if you’ve already been selling for a full year then you’ll kind of have that to look at as well. So, definitely check your inventory, see where you are. If you don’t know what it is maybe what you’ll do is then you’ll go to some of your competitors that are selling something similar and then go look at the history of those. Go to CamelCamelCamel.com, free resource. Go to Keepa.com, free resource, and look at the history, look at the BSR. See how the sales have spiked. Look at the pricing. Are you going to slightly raise your price or slightly lower your price? You have to think about these things. Plan it. Remember, we’re planting today so we can then harvest tomorrow. It’s the same idea. Lightning deals, you may or may not want to do these. I know in the past they’ve been very expensive on these days. You have to weigh out, is it worth the exposure? Is your product a lightning deal type product? Start looking into this. Start seeing if you qualify, if you’ve been invited, and then you have to start thinking about that, so you can be approved in time.

[00:10:07] Scott: So, lightning deals is another thing to think about. If you have an email list or a list of any kind, let them know seven days early before the big day. Prepare them. Let them know that you’re going to be having the sale or you’re going to be having this discount which by the way I think you should have a discount. I think everyone should have a few products that they have and discount them for those days. It doesn’t have to be a ton. It could be $3 off. It could be $5 off. It could be 10%, 15%, 20%, whatever it is, you want to have that be in place. The other thing you might want to do is do your cross promotions within your products. Make sure that those promotions are crossing back and forth with each other because the traffic that you get on one could then lead people over to your other. So, that’s why having multiple products is another good thing.

But again, if you have an email list which you should if you’ve been listening for any period of time I’ve been stressing that. You should definitely have an email list. Maybe you’re building a Facebook page still. You can still let those people know, not going to get a ton of reach. You might even want to start running some ads before and start doing a retargeting audience to those people on Prime Day or a few days before. Maybe you want to start building one now. You have a few. If you’re listening to this in the middle of June, you still have some time. You can build an email list. Do a giveaway. If you guys have not went through our list building training, free by the way, head over to TheAmazingSeller.com/BuildList. Go there, start building a list. Let those people know. Push some content out to those people. Things that we’ve already talked about. You got to do this stuff so again we can plan for the day or for the event. And then the other thing is a lot of people don’t understand this is you want to make sure that your sales are up right now, so you have the best chance of ranking when the big day is here.

[00:12:04] Scott: A lot of people think, “Well, I’ll advertise then.” Well, it’s going to be a lot more expensive to do it then. Pay-per-click costs are going to go up then and I’m not saying don’t do it but I’m saying you need to think about that. Why not drive sales now whether that’s your email list, whether that’s your Facebook ad, whether that is running heavy on the pay-per-click side right now? Again, you’re planting the seeds today for tomorrow to harvest that tomorrow and basically what we’re doing here is we’re getting sales in, so we rank higher. If we rank higher, we’ll get more eyeballs. We’ll get more eyeballs, greater chance that we’re going to sell some more stuff. Makes sense. So, those are the main things. Your inventory, make sure that you have enough. Lightning deals, see if that works for you or if you qualify even. I’m not saying that you should do those. Sometimes they’re anywhere between $300 to $500 in the past and you got to weigh that out. You might want to just take that money and put it in the pay-per-click and drive traffic yourself and get more sales in the process without spending $300 to $500. It’s up to you.

Build a list if you don’t already have one. If you do, let them know seven days early and then I like to also do a little three-day, I call it a three-day profit push, where we’re going to email them three days in a row. I would email them probably like two days before, the day before, and then on the day, and then probably one more. I’d even do one more in this case. I’d do one last one saying reminder. It’s almost over. Go get it. Or you can just do one a day before the one a day of or the day on and then from there you would do another one so that would be three if you don’t want to get too aggressive with your list. That’s what you want to do. Those are the things that we need to think about for Prime Day or any day. We’re just using Prime Day as an example. If you’re listening to this and Prime Day is long gone then look at a new day that’s coming up. Maybe you have a day that’s coming up, a holiday. Maybe it’s Mother’s Day, Father’s Day, whatever, Teacher’s Day, whatever it is, and you have products that pertain to that audience and that can sell more during that period of time, this is the stuff we need to be doing so take advantage of that stuff. And like I said, perfect example is we were planning to build up our sales and our product line for six months before we head into the fourth quarter and the reward was a $100,000 month. So, that’s what we’re doing. We’re planning now so this way here we can take advantage of that later. So, with all of that being said, I know that was a mouthful but it’s really important that you guys do this so definitely, definitely do that. So, here’s what we’re going to do. I’m going to go ahead and we’re going to go ahead and listen, all of us are going to listen to the question and then I’m going to go ahead and give you my answer. The first one will be on Chinese sellers. This is a big, big topic and I’ll give you my thoughts on it after we listen to this question. So, let’s do it. What do you say?

[Q&A]

[00:14:53] Male: Hey, Scott. I got a question about a product that I put on Amazon about two years ago. It was I think my first private label product. I’m an engineer, mechanical engineer by trade and this is a product I found on Amazon that I knew that I could design. I have factories in China that I work with who design all sorts of parts for me, so I knew this was something easy that I could make a slight change to it, try to improve it a little bit and have it basically custom-made for me. It’s not something that you would find – the product isn’t something that you would find on Alibaba or anything like that. So, let’s say I listed up like two years ago and it was selling pretty good. I think it was like maybe 300 a month and it’s Prime.

And I actually introduced a new product that was a variation of that, that had an improved feature that I actually got from some of the feedback, so I have a different listing for that one and that one’s priced higher and that one is selling okay. But that original one, I still have it up there and I haven’t really paid much attention to it. It did. The sales on it have just been going down and down and down over the months. I figured, “Okay. Well, maybe more people are interested in my higher-priced one. It has a better feature, so they just want that instead and maybe just like not many people are interested in this product anymore.” That’s just what I thought because now it’s like selling like 30 a month and I dropped the price really low just to even get it to move. And I actually looked at it a little bit the other day and it seems like there are other sellers selling a very similar product and they all look to be Chinese sellers.

[00:16:52] Male: And their product listings are not that great. They don’t have great photos. Their bullet points are pretty weak. I’ve done some keyword research and pulled their keywords. I mean some of them are okay on some listings and other listings are just terrible. They have low reviews. I have the second highest number of reviews at 300, just over 300. The first guy who was the original guy who had this product just past 1,000 reviews and their prices are actually a little bit higher than mine. I just kept lowering and lowering my price hoping that it would do something but still, it seems like people with less reviews, not as good of a listing, higher-priced, and they’re showing up higher on the search results page and getting a lot more sales.

I would say these other listings are getting between 200 to 400 sales a month still whereas mine dropped to 30. I’m just kind of confused on what the heck, why would mine be dropping solo? I think I’ve got decent pictures, decent bullet points. So, it’d be great if you could reach out to me and we could look at it and maybe see what’s going on. It’s kind of a big question mark for me. All right. Thanks. Bye.

[00:18:21] Scott: Okay. So, great question. Lot of things we need to discuss here but I’m going to try to condense it down and didn’t leave your first name, so I can’t call you out by your first name. Please, guys, if you submit a question, just leave your first name. It’s all I ask and maybe where you’re tuning in from. That would be kind of cool as well. So, here’s the deal. Number one thing I want to say is you launched a product about two years ago. It was doing pretty good. You kind of stepped back from it. You launched another product that was better than that product and that product is doing better than the first product. Okay. So, that’s great. So, you’ve improved a product, you made it better, it’s higher-priced, it’s selling more. But now you’re like, “Well, wait a minute though. There are other people selling the lesser of my better product,” like you have. You have your own version but you kind of let it go. You didn’t do anything. They’re getting more sales. So, the thing you have to understand is if they’re getting more sales, they’re going to rank higher so you’re not going to be even seen if you’re on page 2, 3, or 4.

So, unless you’re on page 1 and they can see you then they can’t compare you. So, that’s number one. We have to understand that, yes, the Chinese sellers can come in and that’s the other thing. We’ll talk about that in a second or anyone for that matter. It doesn’t mean it has to be a Chinese seller. And what we mean by that, guys, is it’s people that are in China. They’re working with manufacturers or they work at a manufacturer and they start producing your product and then they go, “Wait a minute. We can just sell it ourselves. We’ll just compete with those guys and we’ll undercut them.” Let me just say something. It’s happening. It’s happening out there. It’s happened to us in the new brand and it’s going to continue to happen. It’s pretty scary and it kind of stinks because you put all that work into it and it happens but here’s the other thing.

[00:20:18] Scott: If we're out there building a brand like I said time and time again, there are so many other things that we’re going to be able to do that they’re not going to do. And just like this guy said here and, again, I wish I could call you by name, but you basically said they’re not doing as good a job on the images. They’re not doing as good a job on the product itself. They’re not doing a good job or they’re not advertising you don’t even think and if they are, it’s not that good. So, you’re really not up against a lot of competition because you could be doing all that other stuff. You have better pictures but if your pictures aren’t seen, how can someone make a decision? So, my first thing would be you got to drive sales. Lowering the price isn’t necessarily going to do that. What you need to do is lower the price and go crazy with pay-per-click IF, big word here, IF you want to sell that product still and if it makes sense, if the margins are right. If your higher-priced one is doing well then maybe you don’t want to sell the other one that’s competing with all of those other ones.

Maybe what you’re going to do is you’re just going to push a whole bunch of sales and really focus and double down on that product and expand on that product. Maybe that’s what you’re going to do. So, if you had a brand, and maybe this product doesn’t even lend itself to having a brand or an email list. Like you said, it might be a part for something or whatever, maybe that doesn’t. I would say that there’s most, every product you could probably find some way of communicating with that audience or at least doing some type of outside traffic to push sales or a funnel or any of that stuff but again it would take a little bit of thought to really think about like how could you make it where that person that just bought this one thing who needs a part. So, it doesn’t always work but you definitely could ramp up your pay-per-click for sure. So, personally, I think it’s pretty obvious on what you need to do. Number one, you have to decide, is it worth you getting to front page? And if it is, then you have to say, “I got to ramp up my pay-per-click. I got to get really good with that and overspend maybe to get positioned.”

[00:22:26] Scott: And if you get positioned and then you start to get those sales, people are going to see you, they’re going to see your listing, they’re going to see your views, they’re going to see all that stuff and then the other players are not going to even try. It’s like they’re going to be like, “Well, alright, we’ll just launch another product,” because they have all these products at their disposal. So, that’s what I’d be doing. The more expensive product that’s doing 300 you said I think-ish something like that a month, then I would really focus on that as well. I would have that product and I would continue to sell that product and ramp that up. Again, if it lends itself to building an email list or building a brand around it, then I would be doing that for sure because then there’s no way that they’re really going to compete with that. They’re not going to want to go through the effort. You guys realize what it takes to build a brand? It takes work. And a lot of these not even just Chinese sellers, just anyone that’s in there just throwing up random products that doesn’t want to do all the other work, they’re not going to go through that because it’s work.

But if you put in the work and you figure out a way, like I’ve said before, figuring out how to get different traffic sources and how to build a funnel outside of Amazon, how to build an email list, how to do content marketing, how to do all of that stuff the digital marketing side and then it’s hard to compete with that. I mean just to figure out Facebook ads and then retargeting all of that stuff that goes into that, to figure that part out. So, if you’re willing to do the work, I believe you can beat the competition and it doesn't matter who it is. In this case, it’s Chinese seller. Okay. So, what? So, let’s just go out there and just do what we can do with what we have. Don’t just say, “Well, I put it up there and they’re getting more sales and now I’m not being seen.” Well, yeah, because they have more sales. So how are you going to get ranked? Get more sales. That’s what we’re going to do. So, it’s pretty obvious to me. That’s what I would do. Hopefully, this has been helpful. I don’t have all the details, but I have most of them and I think from what I’m hearing this is where I would move, and this is what I would do in this situation.

[00:24:28] Scott: So, hopefully, that was helpful to you or anyone else listening that’s dealing with this and, again, going back to any seller that’s coming in this competition, not just a Chinese seller. Chinese seller makes it a little bit harder because they can undercut you. That just means you have to do better marketing and you have to have a better product, period. That’s it. And better customer service. We all know they probably won’t have good customer service because, again, slamming up products, just slamming them up. So, I would just focus on those things and I think that will work. I don’t think that just trying to compete on price is going to do it because you can’t be seen. You have to look at the whole picture. All right. So, let’s go ahead and listen to the next question. Actually, it’s a couple of questions in one voicemail so that’s what we’re going to do. We’re going to listen to this one here. I’ll give you my answers and then we will wrap this baby up and you guys can get out there and crush it. All right. Let’s listen.

[00:25:20] Keith: Hi, Scott. My name is Keith. I’m calling in from New York. I love the podcast and all the content you put out there to help the Amazon community. I have two questions about updating your Amazon seller name and creating a second Amazon account. First, I’d like to change my seller name to better reflect the products that I’m selling. Do you know if changing your Amazon seller name has any impact on your ratings or performance history or anything that might have a negative effect on your account?

And the second question is I like to create a second Amazon account. I’ve been selling a wide variety of products and brands over the past year or two and one of my brands has been growing month over month and is far beyond the best products and brand that I’m selling. I’d like to separate this brand out into its own Amazon account, so I can be better positioned to try and sell my Amazon storefront down the road. Do you have any advice about opening up a second Amazon account for a situation like this? Should I use my current Amazon account for this brand, so I can leverage my feedback and history and move all my other products a new account? Or should I just start fresh with a new Amazon account for this brand of products? Thanks in advance for any advice you might have and thanks again. Bye.

[00:26:46] Scott: Hey, Keith. Thank you so much for the question and it’s a good one and I like this. Here’s the deal. You have a brand right now that you are selling, and I think you said a variety of products and then or, I’m sorry, you were selling a variety of products but now you’re kind of narrowing in on one market which is great. Now because of that, you want to change the name of your seller’s account so this way here it reflects what you’re selling in your brand. Okay. That's exactly what I would do. I wouldn't take those products now and move them or try to move them which would be a hassle and I'm not being quite sure how you would do that without like starting from scratch, but you already have momentum there. You already have history on the account and a lot of people don’t realize it when you have feedback and reviews and all of that stuff in that account and you have history, the account is seasoned is what we kind of call that. It has authority in a sense because you’ve been on and you’ve been proven of how you conduct business and that’s what Amazon looks at.

So, if that is your main thing like if that’s your main brand that you wanted then put some more muscle behind and really give it more attention then that’s what I would do. I have not heard, I can’t prove this, but I have not heard changing the name has any negative effect on your score or your reach as far as your ranking like any of that stuff because the listings themselves are all pretty much staying intact. There’s nothing changing there and really you got to look at your listings themselves are kind of independent but yet they’re tied to your account or your seller’s account and really then your feedback is all kind of housed underneath your brand or your main seller’s account. Now, if you’re doing an open brand type thing then that main brand would then encompass all of those other mini brands and then you can name those whatever you wanted to.

[00:28:45] Scott: But what I think that you need to do or what I would do personally is I keep that. Like, if that’s the thing that’s moving right now, that’s the thing that’s working and you want to start to shape that into its own brand and then maybe weed out those other products that you’ve been selling, maybe you have an account that you are doing RA in the beginning and now you’re going to stop doing the RA but you’re going to start focusing on one category that you kind of expose by doing RA then that’s what I would do. I wouldn’t not use that account because you’ve done RA in the past. I personally don’t think it matters. I think if anything, it gives your account a little bit more boost and a little bit more authority because you’ve already been selling. You’ve already got an account that’s seasoned. So, that’s what I would do. The other one-off products that you want to do, yes, I would set up a brand-new account. Here’s the deal. You have to contact them, and I’ve heard some people say that you don’t have to. I have found that if you just reach out to them, they will usually say, “No,” unless you have a really, really good answer or a reason, and sometimes it’s who you actually reach out to.

I found if you pick up the phone and you call someone, you’ll get a better answer and generally it is yes, but you have to explain yourself why are you doing it. Well, I’m creating a brand over here and it’s only going to be selling this type of stuff but over here this is going to be a variety of products. It’s going to be more of – it could be a different category or multiple categories or markets. So, you need to explain yourself or maybe you’re starting one because this happens quite a bit. You have a business that you started and then your wife’s going to start one but you’re under the same household. Then, yes, you want to call and you want to get that stuff approved so this way here you are on record that you’ve been approved. The other thing is definitely get that in writing, have them email you back saying that, “Yes, we agree.” You could have an account. Now, when you have a new account, you are going to need some things.

[00:30:41] Scott: You’re going to need another EIN number which basically is your business number in a sense from the IRS, so not a big deal. I mean it’s not hard to get one of those, pretty easy. You probably should set up another LLC and again you don’t have to. It’s what I would do and then you’re definitely going to need a checking account because that’s what they’re going to tie the account to. Those are the main things. I would probably also set up a website even if it was just two or three pages to kind of have something there with a logo so you could present that if they ask for it, but you don’t have to, but I probably would. And that’s really it. That’s really all that you need to set up that other account. So, not a ton. It’s going to take a little bit of work but not much but again, I would be totally upfront with them and I would definitely get it in writing or like I said in email so this way here you can keep that as a record that way just in case something happens. And then from there, I mean, you should be off and running. It shouldn’t be any problem at all.

I’ve had no problems. We’ve done it multiple times. People that I have worked with had done it multiple times and every time it’s exactly what I just said. So, as of right now that’s what it takes. Now, I can’t say that that’s not going to change in the future. Right now, trademark is a big deal. You don’t need a trademark today at least right now. You might in six months. I don’t know. But you don’t need a trademark right now, but you do need a trademark to get Brand Registry 2.0. But you don’t need it to set up your business necessarily. That’s really there to protect you and your brand. But who knows? They may make that another thing in the future that you have to have in order to have a seller’s account. Don’t know. Things are always changing. But it’s definitely a good thing to have. One little side note though. If you guys are out there and you’re creating a brand name and you are thinking to yourself like, “I want to call it something. I want it to be cool. I want it to represent the brand,” all of that stuff, definitely make sure that you check to make sure that the website address is available, that the domain is available.

[00:32:44] Scott: I see some people they’ll go out, they get a name, and they think it’s awesome and then they’ll find out that it’s already taken so the domain is a big thing. You also might even want to do a really simple trademark search to make sure that if you are going to trademark it in the future, you’re not going to have any problems. You can do a quick little search at I believe it’s the IRS.gov. I forget what the address is. You know what I’ll do? I’ll link it up in the show notes for you guys and you just go there and do a quick little search and it will search the trademarks that are registered there. This way here you get a little bit of a heads up. You might even want to contact an attorney or even legals that’s going to do maybe a light search on that if you’re at all concerned. But definitely when you’re thinking about that name, make sure that that domain is available. You can go over to GoDaddy.com and you can check it there and that’s usually where I go whenever I’m thinking of names. I always go there and punch it in and I see if it’s available or not. All right. So just a little side tip.

[CLOSING]

[00:33:37] Scott: All right. So, guys, that’s pretty much going to wrap it up. A lot of stuff. It’s crazy because I always like I said in the past I always kind of go into these things thinking I’m going to keep these short and they tend to go a little bit longer. But I’m still going to try to make them go shorter but if I got something to say, I’m going to say it. I want to definitely make sure that I’m covering everything to help you guys. Now, if you guys are brand-new and maybe you’re listening to this for the first time, you definitely can go over and check out all of the episodes that we published on the blog over at TheAmazingSeller.com. Right there, just go there. There’s a little search bar. You can search any topics there. If you guys are just starting and you want to figure out a market and products that you can sell to that market then I would recommend heading over to TheAmazingSeller.com/Bootcamp and that is our training where I walk you through a real example of myself and Chris Schaffer identifying a market and really building the foundation of what will become a brand and moving into the future of e-commerce.

This is really, really important and this will work for you on Amazon and off of Amazon, but we really need to make sure that that foundation is set and it’s solid and we have a really good plan moving forward. That training does exactly that. So, definitely check that out if you’re interested, TheAmazingSeller.com/Bootcamp. All right, guys. So, show notes can be found at TheAmazingSeller.com/529 and if you want to ask a question, head over to TheAmazingSeller.com/Ask and you can do that. Love to hear from you, just include that first name. All right. So, guys, that’s it. 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, take action! Have an awesome amazing day! And I’ll see you right back here on the next episode.

[END]

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