TAS 778 How To Deal With FEELING Down After $300k Holiday Sales Spike? Ask Scott #242

Are you fired up and ready to keep pressing toward your goals for 2020 in your business and beyond? What are you doing to stay focused and on target? Do you need a little push in the right direction? If so, 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, gives an update on the progress of his audiobook, answers a question from a TAS follower like you, and so much more. Have pen and paper ready; you don’t want to miss a minute of this informative episode! 

What is your target? 

What good does it do you if you head out to the archery range, and you don’t have a target to shoot at? It sounds like a wasted trip! When business leaders fail to set targets for themselves and their business – it’s like showing up to the archery range without a target. Your chances of success increase significantly when you take the time to set clear and achievable targets for your business to hit. Learn more about the value of setting targets in your life and business by listening to this powerful episode of The Amazing Seller – you don’t want to miss it!

Don’t worry about what could have been!

Do you ever find yourself full of regret looking back at decisions you could have or should have made? Maybe for you, it was failing to have more products in stock during the holidays, or maybe it was having too many products in stock that you took a hit. Rather than focusing on what could have been, Scott encourages sellers like you to take stock of what you experienced and learn from it. If it was only a moderate success – that’s ok – you’ll learn to improve upon it next time around. Tune into this episode of The Amazing Seller to hear from Scott as he explains how sellers like you can push forward even when you don’t feel like it. 

Audiobook update

If you’ve been around the TAS community for very long, you know that Scott is passionate about getting his message to as many sellers like you as possible. Scott has seen the impact that continued learning and investing in your personal and professional growth can have on a business. While it has been a few months in the works, Scott is proud to announce that his audiobook is finished! You can find a link to the audiobook located in the resources section at the end of this post.

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [5:00] Scott’s thought of the week – what is your target? 
  • [10:50] Question: How do I deal with feeling down after $300k Holiday Sales Spike?
  • [19:20] Closing thoughts from Scott. 
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TRANSCRIPT TAS 778

TAS 778: How To Deal With FEELING Down After $300k Holiday Sales Spike? Ask Scott #242

Speaker 1: 00:02 What's up everyone. Welcome back to another episode of the amazing sellers podcast. This is episode number seven 78 session two 42 of Ascot. This is where I answer your questions here. I'm a podcast and I'm going to do it again here today and today is a very unique

Speaker 2: 00:21 question, one that you might say to yourself, man, I wish I had this problem, and that is, and I'm going to let William actually explain his problem, but the question is this, how do I deal with feeling down after the holiday sales spike? Now you might be saying, well, you know what kind of spike are we talking about here? Maybe an extra thousand dollars. We talking in an extra 10 we're talking $300,000 in sales and wants to know what happens when they go away and now I feel kind of down and I'm feeling like, I don't know, maybe I left a lot of money on the table while we're going to talk about that because it's actually more common than you think. We all want to get to a certain level and then we think when we get to that level, everything's going to be perfect, but it's not.

Speaker 2: 01:13 There's always something that you feel you could have done better and you start beating yourself up about it and it can be really negative towards your growth. So I want to dig into that and I want you to listen to him, explain what he's dealing with and hopefully you can learn from this no matter where you are in your business. So that's what we're going to be talking about here. Now before we do, you know I always have a few thoughts of my own, but I did want to remind you that if you want to ask your own question and have aired on upcoming Ascot session, all you have to do is head over to the amazing seller.com forward slash ask. And you can do it right there. Just leave your first name, where you're tuning in from your question. And uh, yeah, that way I can answer your question and I would love to hear from you.

Speaker 2: 02:00 So make sure that you do that. If you have a question, this is kind of like our time to hang out together, have a cup of coffee, cup of tea, whatever your favorite beverages and just hang out. All right. So the other thing I wanted to say is depending on when you're listening to this, we just wrapped up enrollment to brand creators Academy. If you're brand new, well you might not know what that is as of yet, but I do have a free resource for you. But I just wanted to say, man, it is great when you have people that are ready to step up to the plate and start building a brand. And that's what we did here when we opened is we welcomed that brand creators into our Academy, into our community, also known as our tribe. And uh, I just want to thank everyone that, uh, that really just wrote in and said how awesome that the Academy is, but also how this has motivated them, whether they've joined or not.

Speaker 2: 02:54 This whole focusing on building a brand has been a huge game changer for so many and you might not be ready to join the Academy and that's fine. And as of right now it's not even open so you can't join yet. Um, but I did want to give you the date that we are going to be opening up for enrollment depending on when you're listening to this. It's going to be a little while and that is April 6th, 2020. So April 6th, Mark the date. If you miss the last one or if you're just starting to tune in and you start hearing me talk a little bit about this brand creators thing, um, you're going to want to write down that date. We'll obviously be giving you more information as we get closer. But also we have free resources for anyone that is coming in new or maybe you haven't grabbed them yet.

Speaker 2: 03:38 And that is our brand growth validation checklist. We've had already thousands of people download it and so many people saying how much value they're getting from that. But it really does identify your market. It gets crystal clear on what your path is. And really if you can even drill down in this market and build out a brand or even take your existing products and build our brand around those, you're going to want to download this, go through this process and uh, and really just see for yourself. So like I said, if you want to grab that, you just have to head over to brand creators.com and you'll find that checklist there and you're going to see some additional training that I've created. And that's going to walk you through a few examples on how to use the checklist, how to validate a market, and really how to see these growth opportunities in your business.

Speaker 2: 04:27 Now the other thing I'm going to be doing is when you go over there and you do sign up for receiving that training, I'm also going to be creating some new training and you are going to be getting access to that. So make sure that you get on that list if you haven't done so already, brand creators.com is where you'll find all the information there. All right. So I got one other thing that I want to share here before we jump into the question. And that is my thought of the week. And that is it's very simple, but a lot of people over complicated and I have myself at times and we're into the new year. So we're all setting goals, right? We probably already thought about goals. What do we want to achieve in 2020 what do we want to achieve in the next three years, five years?

Speaker 2: 05:09 All of this goal planning. And I think it's great to dream and I think it's great to plan, but there's something that's even more important than a goal. And that is a target. Okay? And the reason why is because if we have the target, not just the goal, but the target. And what I mean by that is what are the action steps? What are the targets that we need to aim at in order to get to the goal? So we can have a big target, the thing that we're heading towards. But then there's going to be these small action steps that we're going to be building upon. And I can't stress it enough. There's so much noise out there about what is the right business model. Should I do, you know, uh, just Amazon FBA. Should I do, uh, you know, building out a brand, uh, should I do drop shipping?

Speaker 2: 05:53 Like whatever it is, you need to feel good about it. Okay. I'm not going to sit here and try to convince you that brand building is the way to go. I've just given you a lot of information around why it's pretty valuable and it's a great business model really. And all of the advantages. I'm going to continue to do that cause that's what we're currently doing. But whenever it is, you need to get crystal clear and you need to put the blinders on. And I mean, if you've ever seen a horse at a horse race, right at a flat track or harness a race, you're going to see that they have blinders on. And that's because they don't want the horse getting, you know, confused or getting sidetracked or, or having that come into their vision because then they might slow up or they might, uh, while they might get spooked or whatever, right?

Speaker 2: 06:39 We want to put blinders on and we want to put blinders on as far as shiny objects. There's an easier way. There's a shortcut. All right, we want to put the blinders on and we want to have targets and then go for those targets. Uh, I played darts. If you ever play darts, you know that it's all about targets, right? Not just the bullseye, but if you're playing baseball, you're shooting at the first inning and then the second ending in the third and in certain spots in that inning, right? So there's different things that we need to do in our business to shoot for a target. And when you shoot for a target, it doesn't have to be this complicated thing. It's just one target. We're going after tunnel vision on the target. Okay? So here's a little exercise for you. Write out what you want the target to be and then shoot for the small targets to get there.

Speaker 2: 07:28 So big target little targets, right? All leading to where you want to go. All right? So an example would be if you want to build out your brand and start with your home base, as I talk about a lot, well you have to pick a domain name, right? You have to register that domain name and then from there you have to buy hosting. And then from there you have to install a theme or WordPress, some type of platform that you can start posting. Those are targets and action steps to get to having your home base, right? Once you get to home base, now we have to talk about what's the next step. Well, we got to start creating some content assets so we can lead people back over to our brand and to our, you know, to our business. Okay, so you see what I'm doing here?

Speaker 2: 08:12 We need to get clear on what that is. Not just that big goal. Like I want to make $1 million. Well, that's great, but we need to also chunk that down. How are we going to get there? The other thing you might want to do is ask yourself why you want to get there. Why is that number important? Right? So we can go into a whole episode on that. We're not going to do that today, but I did want to give you something to think about. Goals versus targets. Okay. I'm a believer in goals. Don't get me wrong. My goal is to whatever reach, you know, 10 million people. I want to get this message out to so many people you know with my book to take action effect, which if you haven't grabbed a copy yet, make sure you do. Uh, and you can not, you can find that@atakeactioneffect.com and uh, Oh also, by the way, I haven't even made an official announcement yet, but I'm going to kind of give you guys a little bit of a behind the scenes here because a, well, you know, not everyone listens to a Friday episode.

Speaker 2: 09:04 Just a usually a, the people that are, you know what, I need a little dose of Scott today and that question might get me, um, but, uh, I want to share this with you guys and that is, uh, the audio book is released. It took a little while to get that finished and get it published because audible has their own, their own things. And uh, you know, my editor, uh, finally got it done and so everything is, is done right. And, uh, I didn't realize that until about a week ago and, uh, it was, uh, well cause I was tied up with everything else. I got a little sidetracked and I, uh, well I forgot that. Uh, well we wanted that to be released by January 1st a little bit late to the party, but then it's okay. So anyone that's been waiting for the audio book, it is now available.

Speaker 2: 09:47 And if you go to take action effect.com, you'll either see an option there or you can just click on that link. It'll take you to Amazon and you can go through and get it through audible. Now there is a way that you can get the book for free, the audible book version. Uh, you cannot, you can sign up for a audible account through my affiliate link and yes, you'll buy me a cup of coffee. So what you can do is just go to the amazing seller.com, forward slash audible. Okay. And that's the amazing seller.com, forward slash, audible. And then what you'll do is you'll get a free credit and that will buy you the book. All right, so totally up to you. You can try it for free. Uh, that's what they do over there at audibles. So again, if you want to use my affiliate link, you can get the book for free or the autumn audible book, a audio book for free. All right, so let's get into it. Let's go ahead and address this question. I'm going to go ahead and play this voicemail and then I will come back and we will answer this question. We'll get down to the bottom of it. What do you say? Let's do this.

Speaker 3: 10:54 Hey Scott, my name's William from Pennsylvania. My question's about dealing with feeling down after selling out at the peak of the holiday season. I'm really bummed out. Yes, I made more this month than I did all year at my desk job, but I left a lot on the table. Oh, and the season with close to 300 K and holiday sales and I sold out before I even got a chance to peek. I know this because one of my better selling products was already gone when I had my best day. Then. Now my competitors will have a chance to catch up while new inventory ships in. How do I deal with feeling defeated when most people would be happy to be in my shoes? Even my family keeps saying better to sell out. They'd be stuck with them and Tori, which of course is true, but it doesn't make me feel any better. Thanks for any advice and thanks for all you do. You've been inspirational to me since I started listening to your podcast and so and on Amazon about three years ago. Thanks. Take care.

Speaker 2: 11:50 Well, Hey there, William. Let me first say on an amazing fourth quarter. That's amazing. You should be proud and yes, I can hear the tone of your voice. You're, you're defeated even in that message. So if you and I are sitting down at the coffee shop and we're having our cup of coffee, I'm going to reach over to you and go, dude, come on man. Look what you've done. You ought to be excited about that. Don't worry about what could happen or what you you missed out on. You know the other question you can ask yourself or you can say to yourself and put yourself in the, in the, Oh, but what if I never launched this product? I never would have had that. Right? You can always go back and say, what if? What if I should have? Could have? Right? All right. Get yourself out of the funk.

Speaker 2: 12:38 You got to feel good about that. Anyone else right now? If you're thinking to yourself, Oh man, I did this and I should have did better, but wait a minute, let's back up. Let's give yourself some credit for what you've done. I mean, come on. I mean, so many people, like you said, would be happy in your shoes. Now, can we learn from this? Can we grow from this 100% yes. And we're going to, and I'm going to talk about that, but right now I want to celebrate with you. I mean, Hey, let's, let's high five, let's have a drink, let's celebrate. Okay? And you need to feel really, really good about what you've done and you this should, this should actually be confidence for you. This should be a confidence builder for you. All right? So yes, if you want to feel bad for a second, go ahead.

Speaker 2: 13:25 Have your time, but get back in it man. Like you're in the game. And yes, there are going to be, you know, competitors coming in, but that doesn't matter if you had the best fourth quarter ever, there's still going to be some coming in. So that's why what I would say to do here in your shoes right now is, and I don't know your products, I don't know your brand if you even have one. I don't know if all you're doing is selling on Amazon, right? But what I will say is let's make 2020 the year that you build out your external channels. And in this way here, you're not just thinking, Oh I had that spike. I feel great. That was awesome. It's kinda like you went to the casino and you hit it big and then you're bummed out because the next time you go you might not hit it big.

Speaker 2: 14:12 Right? So I don't want to feel like that. I want to feel excited about the fourth quarter but not let down when it's over because I don't want to depend my whole business on that. So what I want you to do is get into the mindset that you're going to build this thing out for the long term. You're going to build it out so it's more stable and you're not going to be feeling down and let down because you know you ran out of inventory. Well, okay, let's, let's flip this around. Let's do the what if thing here. All right. Cause there's an example that I'll share with you here and that'll make you feel a little bit better about your situation. So let's say for example, you, you know, you sold everything that you did and that's, but let's just say that you actually bought an additional 10,000 units.

Speaker 2: 14:55 Well actually let's call it 15,000 units. Okay? You're like, you know what? I'm going to go all in on this fourth quarter. I'm going to buy 15,000 more than I usually do because last year I, uh, you know, I didn't sell or I sold out and I could have sold more. And you just, you roll the dice and you put all, you know, all the, all of your chips on that, right? And then let's say that this happens. What if, let's just say hypothetically, let's just say that you got a notification from Amazon the day that those 15,000 units were brought into Amazon and you got a notification saying, Hey William, I'm sorry, but we have a claim against your product, a patent infringement, and we're going to actually suppress your listing until you give us some answers and then we may deactivate your account. Okay? Oh, let's think about that for a minute.

Speaker 2: 15:45 How would that feel? And let's just say hypothetically that those 15,000 units cost you $60,000 hypothetically. Okay? And the reason why I'm saying this, and I'm kind of being a little bit smart about it, is because I did an episode not that long ago from a guy that is actually in brand creators Academy, and that's exactly what happened to him. Okay? He went and sold a thousand units, sold out, bought another 3000, sold out, bought another 5,000 sold out, said, heck, I'm going to go ahead and I'm going to bet on this went 15,000 units and a while he got that, he got that notification and come to find out it was a violation of a patent that he wasn't aware of. So now he's trying to figure out a way to liquidate that inventory for $60,000 okay. So again, you've heard this, the saying I'm sure are the same before.

Speaker 2: 16:39 I'm sure there's always someone that's worse off than you, but you got to feel pretty good about what happened right now with you, with what happened to you in your fourth quarter. Right? You need to feel good about that, right? I mean, heck I would. Anyone would, okay, but don't beat yourself up about something that could have been in that, Oh, I might be losing ground. No. Now be proactive and either plan a little bit better next year. Okay. And then from there also build out those external assets. So this way here you have other sources of revenue. So it's not just dependent on those products, those couple of products that you're selling or three, I forget how many you have, right? So that would be my advice. And for anyone listening right now, like if you hit it out of the park for fourth quarter and you're just like, man, this is my first year and everything went great and everything I'm telling you, okay, most likely there's things that are going to happen that are going to go the other way and you're got to figure out how to get him to go back the other way.

Speaker 2: 17:38 But if you're building a brand, we're building out external assets that we'll bring in our own traffic. And then this way here, it also opens up opportunities to monetize different ways. Okay. So that's what I would be focusing on and that's what I would be working on. So I wouldn't be feeling like down and depressed about this great fourth quarter and then now you're feeling down cause it's over with. And sales kind of went down back to where they're normal and you feel like you left money on the table. Like let's not think about that. Let's think about what we can do to actually bring a result back or build an asset that can bring in, you know, some traffic or some money next year or in the next three months or the next six months. Let's forward think, let's not think backwards. Okay. So that would be my little pep talk for you, William and anyone else listening.

Speaker 2: 18:25 And, uh, again, I mean I think we all would say congratulations on an amazing fourth quarter and feel really good about that. And hopefully you've got a little bit more bouncing your step when it comes to, you know, just selling a physical product. You've got it right. You did it, you know, congratulations. You should feel really good about that. Feel proud about that. All right. And um, and just if you feel like you're getting into that, that little funk again, go back to this episode and listen to this part again. All right. Because I, I, I really do believe that you need to take this momentum and you need to roll with it. Okay. And uh, and just really feel good about what you've already accomplished cause it's pretty amazing. It's pretty awesome. All right, so hopefully that helps you and give me an update.

Speaker 2: 19:09 How are you doing and where are you in your brand build, you know, reach back out to me, William, and let me know. I'd really like to know. All right guys, so that is going to wrap up this episode. If you have any questions you want me to answer on an upcoming Ascot session, head over to the amazing seller.com forward slash ask. The other thing is, well, if you have not downloaded the brand growth validation checklist to really map out your brand and see all of the opportunities that you, that you can create in your brand or not because you know sometimes you go through that checklist and you're like, Hmm, I don't think that's going to work. It's there for that too. Plus the training videos in the new ones coming can all be found when you go@brandcreators.com and you can register there and you will get the free resources, the checklist and all of the training. And when we open up brand creators Academy again you'll be notified. You'll be one of the first to be notified because we do only open for a very short period of time and the next open for the Academy is April 6th, 2020 so Mark that date.

Speaker 1: 20:10 All right guys, so that's it. That's going to wrap it up. As always, remember I'm here for you. I believe in you. I am rooting for you. It's what you have to, you have to come say it with me. Say it loud. Say it proud. Take action. I have an awesome, amazing day. I'll see you right back here on the next episode.

Speaker 2: 20:33 Before you go, could you do me one quick favor? If you haven't done so already, can you head over to iTunes and can you leave me a review over there? I would really love to hear how this podcast has helped you in one way, shape or form and Oh by the, I read every single one of them and actually I'm going to read one right now and this one came in recently from Allen V and he said this is the best podcast that delivers not only free but most important, very well organized content to help you understand and know what you have to do in your brand and Amazon business. Scott is very energetic now, really and smart about organizing lots of information into little baby steps to help me take action. Thank you very much Scott, for being an inspiration and for delivering so, so much. There's a lot of owes there, so again, I read every single one of them. I appreciate all of you and I would really appreciate it if you would leave me one of your own reviews there as well, and if you haven't also subscribed yet to the podcast, if you can do that, that would be amazing. Talk to you later. Bye.

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1 comment
  • If you have a patent infringement against your product it doesn’t matter if you’re selling on Amazon or not. If Amazon is working for your go all in and forget the off-Amazon stuff because it will only take away from capitalizing on Amazon.

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