April 5, 2020
How To Make Your First $10k/Mo With Amazon FBA

How To Make Your First $10k/Mo With Amazon FBA

– Hey everybody, I’m Ryan Daniel
Moran from Capitalism.com. We help entrepreneurs build businesses and invest the profit. – Come, profit with us. – So today, we’re talking about
your first $10,000 a month using Amazon FBA. Amazon FBA is how I really
made my first real money as an entrepreneur. I started as an entrepreneur back in 2006. Oh my goodness. I’m old in internet years. – Ha ha, you’re old! – If you follow a few
things, getting to $10,000 a month can happen really quickly. If you’re talking about sales. But in this video, we’re
talking about profit. – Show me the money! – Making $10,000 a month in profit. – Show the me the money! – Because many of you who are considering selling on Amazon are not
really interested in building a big, big old brand and business. You wanna make $10,000 a month so you can live life on your own terms. And if you’re gonna do that, the approach is very
different than someone who is coming in and building
a really big business. They’re two different approaches. Now a lot of my students are building up real brands that they’re going to scale and sell for millions of dollars. That’s a different approach
than using Amazon FBA as a place to make cash flow. They’re different approaches. So we’re gonna focus on
the profit side of things so that you have that
$10,000 a month profit as quickly as possible so you can be a full-time entrepreneur. – Show me the money! – So let’s go ahead and dive in. Number one, more is not better. If you wanna cross
$10,000 a month in profit, you’ve gotta go all in
on one product first. It is very hard to take
money off the table when you’ve got multiple products that you’ve got to fulfill inventory for. But if you’ve got one product that you are blitzing to high heaven, it’s going to have higher profit margins. So when you get to that
$10,000 a month a mark, then you can consider putting
more products in your line, but it’s going to cost more money upfront when you’ve got multiple
products going on. So this is my advice, don’t launch a second
product until you’re doing at least 25 sales per day. I say that you should have
three to five products each doing 25 sales a day. That’s about 100 sales a day. And at a price point of $25, that’s about a million dollar business. ♪ “DuckTales”, whoo hoo ♪ So you gotta get to that
25 sales a day first before you can move onto another product. And if you’re only interested in ever making $10,000 a month, then you might wanna just focus on getting that first product to 40 or 50 sales a day, and then just hanging out,
depending on what your goals are. Now my style would be
get it to 25 sales a day, release product number two, release product number three, release product number four. And guess what, I’ve got
a million dollar business that I can now scale or sell. But that’s up to you,
how big you wanna go. Just don’t move on until that first product is
doing at least 25 sales per day. Number two, if you wanna be
profitable outta the gate, you’ve gotta have a
rock-solid product launch. You’ve got to not just send it to Amazon and hope you make sales, you’ve gotta launch this thing. – [Flight Controller]
Liftoff, we have a liftoff! – The only way that you’re
gonna be able to do that is if you get your products
in front of an audience. I’ve got another video
that I will link below that is all about building
an audience that buys. You can do it in about 90 days. But in order for you to
really smash the landing– – [Announcer] And the Falcons have landed! – You have got to have
a successful launch. And that means you’ve gotta
be able to control eyeballs. You don’t need a lot of eyeballs. You don’t need to have millions
of people following you. You don’t even need hundreds of thousands of people following you. You need at least a few hundred people who are excited about your business so that they’re buying from
you at the very beginning, and hopefully will come
back and leave reviews. You can do this with Facebook groups. You can do this with email lists. You can do this with Instagram. You can do this with any
way that you are comfortable communicating with people. Another alternate way for you to do this is to just partner with a person who already has the audience. If you know somebody
with a Facebook group, if you know somebody with a blog, if you know somebody
with a YouTube channel, if you know somebody with an email list and you partner up together, they focus on the audience,
you focus on the product. That can be a real, real magic formula to get to $10,000 a month very quickly. – Did we just become best friends? – Yup! – Number three, in order for you to be able to take $10,000
a month off the table, you’ve gotta have a product
with high profit margins. The only way that you’re able to have a product with high
profit margins of 40% or more is for you to be a little bit
different than everybody else. ♪ I’m different ♪ ♪ That’s how it goes ♪ This doesn’t mean that
you need to come out and invent a new product. It just means that you’ve
gotta be able to justify a slightly higher price
than everybody else. The other option is to have a
really, really cheap product which is not something
that I would recommend. – It’s a common stereotype
self-perpetuated throughout history, rich people are cheap. – Instead, I’d recommend
that you make a little tweak to your product so you
can charge a higher price. Now on the extreme side, you have something like a microphone which is made from scratch. So that’s obviously going
to command a higher price. And on the extreme side
of just knocking off what everybody else does, a MacBook case is not something that you would wanna sell
because it’s really hard to differentiate that. You don’t wanna go on either
one of those extremes. You want to be in a big market and have the product be
just different enough for you to be able to charge
a slightly higher price. I also have a video about criteria for choosing your first products. So if you wanna know how to
differentiate your product regardless of what market you’re in, you’ll wanna watch that video too. So in order to get to $10,000 a month, more is not better. Focus on getting to 25 sales a day first. Smash a product launch. And you need a few hundred people to be following you in order
for you to be able to do that. And go after products
with high profit margins, 40% or better. If you do those three things, then you can go all in, laser focus– (laser zapping) On selling that product and
making that $10,000 a month which is going to allow
you to live the life that you want on your own terms. I have a training on this
called Million Dollar Brands which will help you choose
your first, original products, bring them to market, launch profitably. And that training is actually
free if you complete it. So you make a deposit and when
you complete the training, you get that back if you want it. So you can find more
about that in this video. If you found this helpful,
please subscribe to the channel. We do a ton of content
for new entrepreneurs who are building businesses
and investing the profits so that you create the
life and create the change that you want to see in this world. I believe the world is
run by entrepreneurs. And so it is my privilege
to help you overcome the obstacles that you
will face on this journey. So make sure you subscribe to the channel. I also run a podcast which is “Capitalism.com
with Ryan Daniel Moran”. Subscribe to that, you’ll really enjoy it. Thanks for watching. (bright music)

8 thoughts on “How To Make Your First $10k/Mo With Amazon FBA

  1. Always easy to EYEBALLS and always make Sense, Best Amazon Coach on YouTube, There are many with 10 HOURS COURSES but in reality you only want to follow this gut who will teach you all in minutes Thanks for saving our time.

  2. Its very hard to understand this way. Please learn people more of the real business. Stop talking the same in every video.

  3. Excellent video, thank you so much! My question to myself this week has been cash flow vs brand building, so this is right on point for me. I have personally gone through Million Dollar Brands, I can't recommend it highly enough. I learn something new each time I go through it. It's also really clear to follow and has print outs that help me to focus my ADHD brain and keep track of my progress. Thanks again for clarifying the cash flow vs brand building approaches. I'm even more excited moving forwards!

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