Also interested in being part of the next cohort
Me too! I wonder however if ecommerce and dropshipping can be done in my country, Greece
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Free registration at the forum removes this block.Also interested in being part of the next cohort
I am interested in this too, I also wonder how easy it would be to do it in Spain.
Also, if the methods learned work the same everywhere around the globe? USA is the biggest market so no idea how it would be in Europe
Man, this sucks. Especially since I had saved 10k to go through the program. Anyway, I did launch a product on Amazon in May in a small market using the criteria you use as stated in your threads and I'm glad to say I made a 2k profit after 1k in costs, after 6 months. Not much, but I proved to myself that it can be done. I'm hungry and want more and so I was planning on launching a few more products under your direct guidance.Sorry, this is not happening again. My coaching store is officially closed.
Sorry, this is not happening again. My coaching store is officially closed.
Hi @biophase
Are there any other coaches or training programs that you do recommend for Amazon FBA related ventures?
Amazon FBA seems a bit tricky with the new tariffs and regulations on imports.
I am just finishing up my real estate house hacking project and aim to launch a product in 2019.
Any testimonials or progress threads from anyone who took this course?
Amazon FBA seems a bit tricky with the new tariffs and regulations on imports.
Pretty much ditto to @maverick. When you know you're being led by someone who has been wildly successful, it removes a lot of doubt, fear, and risk. That is priceless.1- Amazon FBA process
@biophase walked us through the entire process of product selection down to actually launching/selling on amazon. This in itself was worth more than what we paid for.
damn, late to the party lolI was in Kenric's first groups so this is my second year. There's a detailed progress thread inside: https://www.thefastlaneforum.com/community/threads/ecom-progress-from-nothing-to-something.72411/, but I'll just quickly recap this here:
Started selling first product February 2017,
messed up the shipment first, had little margin left, but sold out pretty quick,
made second shipment, sold better, better margins,
tried second product, was a mistake,
found new products that went well at first but supplier messed up, quality issues,
had to start over for some products and dump a batch of bad quality products in trash,
found new suppliers, some of them on trade shows, others reached out to me,
made new products, all of them with good margins,
inventory issues because selling too quick,
clients sending messages asking when it will be back in stock,
too many ideas for new products...
Status November 30th 2018:
View attachment 22661
me too.Biophase, any chance for coaching going into 2020? I know that things have likely changed for you since the last post, and that your schedule for 2020 is booked up with bigger/more interesting projects. However, if you still hope to continue giving back in this fashion, I'd love to join the group for coaching.
Bump.
@biophase will this be available again? My brand is at a point where it will either be extremely successful or slowly start crumble...
I was in Kenric's first groups so this is my second year. There's a detailed progress thread inside: https://www.thefastlaneforum.com/community/threads/ecom-progress-from-nothing-to-something.72411/, but I'll just quickly recap this here:
Started selling first product February 2017,
messed up the shipment first, had little margin left, but sold out pretty quick,
made second shipment, sold better, better margins,
tried second product, was a mistake,
found new products that went well at first but supplier messed up, quality issues,
had to start over for some products and dump a batch of bad quality products in trash,
found new suppliers, some of them on trade shows, others reached out to me,
made new products, all of them with good margins,
inventory issues because selling too quick,
clients sending messages asking when it will be back in stock,
too many ideas for new products...
Status November 30th 2018:
View attachment 22661
Got notifications about this post, so I thought to post a small update.
As of today:
View attachment 29362
Profit: about 31% incl PPC.
That's sick. From 39k (2017) to 290k (2019). CongratsGot notifications about this post, so I thought to post a small update.
As of today:
View attachment 29362
Profit: about 31% incl PPC.
Got notified that somebody liked one of my old posts here so thought I would write an update. I'm a terrible writer so bare with me.
As noted in the previous posts, I setup an amazon account pushing 2 products. Both of them in the diamond sharpening stones business. I made a big list of suppliers (from Alibaba / made-in-china.com etc), put them all in Excel, and added all company details I could find for my due diligence. I whittled down the list to 10 potential suppliers and wrote to them asking them for samples. I did not mind paying for these samples and I did not try to get a discount or anything at this point.
Using the amazon FBA calculator (google it if you've never used it) I put together a first estimate of what my margins would look like. How much will I need to pay amazon to store/fulfill this item (based on a competitor ASIN), how much do I think the product will cost me (based on info I got from the suppliers) and how much money would I need to spend on amazon ads to get a sale.
Your job is to take this spreadsheet list of assumptions and start filling them in with concrete, real numbers. You start off with estimates (which is fine) but once you start going you need to fill this in. Rule number one: always know your margins.
Based on the 10 vendors that sent me samples, I selected a winner and placed my first order with them. As I went through the Amazon class of @biophase I had a freight forwarder lined up to ensure the freight would go from China => US smoothly.
The lessons so-far:
1- Know your margins
2- Don't be afraid to spend time up-front on selecting your vendor. Put together a due diligence process that works for you. Don't overanalyse but also don't just order from the first guy you find online.
3- A quality freight forwarder will save you a lot of headaches. Try to get a referral here. I'm assuming there will be a lot of low quality forwarders. It's easy when things go smoothly. It can be a real pain once it goes wrong (and it will go wrong ;-)
At this point in time I had already made 2 mistakes. If somebody is still reading this thread after all this time, let me know and I will write up part 2.
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